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Intraday price action trend trading

  • #2,001
  • Apr 28, 2010 3:46am Apr 28, 2010 3:46am
Quoting francis2
+18 eu sma 5 touch trade retrace
Nice one francis.
  • #2,002
  • Apr 28, 2010 3:50am Apr 28, 2010 3:50am
Im always a bit wary of trades near big round numbers and breaking new ground downside is good moves lost

gu 15160 looking like support
  • #2,003
  • Apr 28, 2010 3:55am Apr 28, 2010 3:55am
Quoting francis2
nice trades Dave was the gu same as mine break of inv hammer where arrow is

that green inside bar would have been nice
I sold on the close of that inv hammer francis. The official stop was too big for me but the setup looked too good to miss. In such situations I just enter with a fixed 15 pip stop and manage the trade closely. In this case I got spooked.
  • #2,004
  • Apr 28, 2010 4:00am Apr 28, 2010 4:00am
Quoting Sutts
I sold on the close of that inv hammer francis. The official stop was too big for me but the setup looked too good to miss. In such situations I just enter with a fixed 15 pip stop and manage the trade closely. In this case I got spooked.
Another tip is when that trade fails or is b/e I like to go to M1 (dont tell Sho) and draw a trendline across bottoms of price which on pic would also confirm break of inside bar gu to get back in

Purple ma is equiv of sma5 in M15
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  • #2,005
  • Apr 28, 2010 4:04am Apr 28, 2010 4:04am
missed this one bounce off r/n two highs faioled inv hammer gu
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  • #2,006
  • Apr 28, 2010 4:04am Apr 28, 2010 4:04am
Quoting francis2
Another tip is when that trade fails or is b/e I like to go to M1 (dont tell Sho) and draw a trendline across bottoms of price which on pic would also confirm break of inside bar gu to get back in

Purple ma is equiv of sma5 in M15
Thanks for the tip, I've never really looked at the really low TFs before.
  • #2,007
  • Apr 28, 2010 4:13am Apr 28, 2010 4:13am
Last Monday was our public Holiday. So, I spent all the day to practice trading with all bad trades described in the text book. Trade whatever it seems winning. Hold on a winning trade to see/hope if it can go further. As a result, most trades ended up with lost.

This thread has everything to be successful, but I simply can't follow it even though I knew I can be successful if I am really patient enough to wait for the setup coming to me, instead of tracing the setup.

Today, I decide to use a real account and only make one or two trades per day.

Because it is real money, I double check, triple check, wait, wait for the sign of weakness. Then, entered a market order to short EU. I move the stop loss immediately, after the price drop, to BE. I put the TP just above resistent level. It ends up with 23 pips or A$25 profit. My account has A$300 deposit on it.

No trade with real account today.

I think patient is what it needs the most for all of newbies, like me.
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  • #2,008
  • Apr 28, 2010 4:18am Apr 28, 2010 4:18am
Quoting Tang63
Last Monday was our public Holiday. So, I spent all the day to practice trading with all bad trades described in the text book. Trade whatever it seems winning. Hold on a winning trade to see/hope if it can go further. As a result, most trades ended up with lost.

This thread has everything to be successful, but I simply can't follow it even though I knew I can be successful if I am really patient enough to wait for the setup coming to me, instead of tracing the setup.

Today, I decide to use a real account and only make one or two trades per...
  • #2,009
  • Apr 28, 2010 4:19am Apr 28, 2010 4:19am
morning ladies and gents!!!!!!!!!!
some best setup was in the morning.just saw that and took one.
gu 15m.
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  • #2,010
  • Apr 28, 2010 4:21am Apr 28, 2010 4:21am
Quoting trade price
morning ladies and gents!!!!!!!!!!
some best setup was in the morning.just saw that and took one.
gu 15m.
Attachment
Morning Sho Was nice wasnt it
Sho do you actually enter at closing price or wait for open of next candle
  • #2,011
  • Apr 28, 2010 4:25am Apr 28, 2010 4:25am
Quoting trade price
morning ladies and gents!!!!!!!!!!
some best setup was in the morning.just saw that and took one.
gu 15m.
Attachment
I also took that one Sho.
Was your TP based on RR 2:1, 3:1, or different?

(I've set TP at 1.5145 based on 3:1) SL now at BE

Cheers
Rob
  • #2,012
  • Apr 28, 2010 4:27am Apr 28, 2010 4:27am
Quoting francis2
Morning Sho Was nice wasnt it
Sho do you actually enter at closing price or wait for open of next candle
yes it was nice.i will post only good setups.
all depend on price movement.but mostly close of bar if big wait for retrace or pass the trade.

to ROB.
i will explain about exit and RR when i can.i have got both of your pm.will answer in the main thread soon.if u have no problem with that.
  • #2,013
  • Apr 28, 2010 4:35am Apr 28, 2010 4:35am
hey Sho,

your threads have switched the light on for me, thank you.

thanks also to Francis for his guidance
  • #2,014
  • Apr 28, 2010 4:42am Apr 28, 2010 4:42am
gbp/chf nice setup
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  • #2,015
  • Apr 28, 2010 4:48am Apr 28, 2010 4:48am
Quoting trade price
morning ladies and gents!!!!!!!!!!
some best setup was in the morning.just saw that and took one.
gu 15m.
Attachment
Morning Sho! I'm ashamed to say I missed that one.

Still 30 up on the day though so can't complain.
  • #2,016
  • Apr 28, 2010 4:50am Apr 28, 2010 4:50am
Impulsive move on EJ might be worth keeping an eye on.
  • #2,017
  • Apr 28, 2010 4:57am Apr 28, 2010 4:57am
Quoting trade price
yes it was nice.i will post only good setups.
all depend on price movement.but mostly close of bar if big wait for retrace or pass the trade.

to ROB.
i will explain about exit and RR when i can.i have got both of your pm.will answer in the main thread soon.if u have no problem with that.
Great - please go ahead Sho.
  • #2,018
  • Apr 28, 2010 5:22am Apr 28, 2010 5:22am
Quoting priceaction
I also took that one Sho.
Was your TP based on RR 2:1, 3:1, or different?

(I've set TP at 1.5145 based on 3:1) SL now at BE

Cheers
Rob
I set TP (as above)
Had to leave PC
Came back to see price missed my TP by 1 pip and I was stopped out at BE

In hindsight, I can see that I made an error as the "trouble zone" marked on my chart started at 1.5150.
  • #2,019
  • Apr 28, 2010 5:36am Apr 28, 2010 5:36am
gu +23 entered on retrace of inv hammer
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  • #2,020
  • Apr 28, 2010 5:42am Apr 28, 2010 5:42am
Snap!
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