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Intraday price action trend trading

  • #2,041
  • Apr 28, 2010 7:32am Apr 28, 2010 7:32am
Quoting FOURX
gordon browns ,shot hisself in the foot
he didnt aim high enough then did he but I suppose he,s only got one eye
  • #2,042
  • Apr 28, 2010 8:00am Apr 28, 2010 8:00am
why i find it pays to watch candle rollover here 2 M1 candles dropped before resuming direction of long so the first two candles go down to touch snma5 then you pick the trade up on the way back through the close of the previous M15 otherwise youre stopped out or in drawdown straight away
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  • #2,043
  • Apr 28, 2010 8:09am Apr 28, 2010 8:09am
lovely sma5 retrace inside bar break uj M15 M1
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  • #2,044
  • Apr 28, 2010 8:13am Apr 28, 2010 8:13am
I got 91 pips today on trading EU. My accout(real account, not demo account) is going from A$300 into A$391. Couldn't believe it.

I have 11 houses in Sydney which has capital gain more than half million dollars every year.

Still, this A$91 gain in trading is more nervous and excited than those million dollars gain.

I didn't enter the trades very well, but I did something which might be good, which add contracts into positions.
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  • #2,045
  • Apr 28, 2010 8:15am Apr 28, 2010 8:15am
Quoting Tang63
I got 91 pips today on trading EU. My accout(real account, not demo account) is going from A$300 into A$391. Couldn't believe it.

I have 11 houses in Sydney which has capital gain more than half million dollars every year.

Still, this A$91 gain in trading is more nervous and excited than those million dollars gain.

I didn't enter the trades very well, but I did something which might be good, which add contracts into positions.
Well done Tang its as case of being patient on the bad days thats where I tend to go wrong
  • #2,046
  • Apr 28, 2010 8:29am Apr 28, 2010 8:29am
Quoting Tang63
I got 91 pips today on trading EU. My accout(real account, not demo account) is going from A$300 into A$391. Couldn't believe it.

I have 11 houses in Sydney which has capital gain more than half million dollars every year.

Still, this A$91 gain in trading is more nervous and excited than those million dollars gain.

I didn't enter the trades very well, but I did something which might be good, which add contracts into positions.
Post your trades if you like we can all learn and discuss
  • #2,047
  • Apr 28, 2010 8:31am Apr 28, 2010 8:31am
Quoting francis2
why i find it pays to watch candle rollover here 2 M1 candles dropped before resuming direction of long so the first two candles go down to touch snma5 then you pick the trade up on the way back through the close of the previous M15 otherwise youre stopped out or in drawdown straight away
francis,

sorry,a bit confused as to which 2 , 1min bars you are refering to....

i see that they bounce on your 65sma after 8 down bars
  • #2,048
  • Apr 28, 2010 8:40am Apr 28, 2010 8:40am
Quoting FOURX
francis,

sorry,a bit confused as to which 2 , 1min bars you are refering to....

i see that they bounce on your 65sma after 8 down bars
red line on chart the 30 and 31 minute candles drop below close of black retrace candle on M15
This new candle then goes on to form bullish hammer it just saves you a few pips cos the black candle retraced 38-50% so was valid as a set up bar normally you would have been stopped out but waiting those two minutes saves you and you get that retrace to sma5

hope it makes sense

thats why I prefer retraces that go back to the ma generally
  • #2,049
  • Apr 28, 2010 9:05am Apr 28, 2010 9:05am
nice setup us/cad
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  • #2,050
  • Apr 28, 2010 9:42am Apr 28, 2010 9:42am
Woh...... you guys have taken all pips from the market while I am still at work.

While Dave and MJ are now active again here, I may take a chance to do some individual practice (like Dave). Hope I can trade good pips like you guys.

Francis, you are pretty good player here and please keep posting your trades and those newbies around surely can learn a lot from you, of course including me.

Happy trading.

City
  • #2,051
  • Apr 28, 2010 9:55am Apr 28, 2010 9:55am
Quoting Buildcity
Woh...... you guys have taken all pips from the market while I am still at work.

While Dave and MJ are now active again here, I may take a chance to do some individual practice (like Dave). Hope I can trade good pips like you guys.

Francis, you are pretty good player here and please keep posting your trades and those newbies around surely can learn a lot from you, of course including me.

Happy trading.

City
thanks BC you dont do so badly yourself, I think we can all learn from each other,if we post trades and discuss, and suggest possibles maybe, and encourage patience (which is my problem) taking good trades and hopefully enjoy life as part of the 5% (allegedly)

Yes its not been a bad day overall makes up for the chop
  • #2,052
  • Apr 28, 2010 10:34am Apr 28, 2010 10:34am
Quoting francis2
thanks BC you dont do so badly yourself, I think we can all learn from each other,if we post trades and discuss, and suggest possibles maybe, and encourage patience (which is my problem) taking good trades and hopefully enjoy life as part of the 5% (allegedly)

Yes its not been a bad day overall makes up for the chop
Tks Francis,

Nice to know you guys here. You Know my die hard problem, no matter how many times Sho did kick my thick head!! So I really prepare to work out a more appropriate method to suit my personality.

BTW, just got a good trade from GU, its Sho's way.

Slide show, 1st in, 2nd out
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  • #2,053
  • Apr 28, 2010 10:52am Apr 28, 2010 10:52am
Quoting Buildcity
Tks Francis,

Nice to know you guys here. You Know my die hard problem, no matter how many times Sho did kick my thick head!! So I really prepare to work out a more appropriate method to suit my personality.

BTW, just got a good trade from GU, its Sho's way.

Slide show, 1st in, 2nd out
LOL M1 beckons
What did you class that as BC inside bar break? nice one
  • #2,054
  • Apr 28, 2010 11:29am Apr 28, 2010 11:29am
Quoting francis2
red line on chart the 30 and 31 minute candles drop below close of black retrace candle on M15
This new candle then goes on to form bullish hammer it just saves you a few pips cos the black candle retraced 38-50% so was valid as a set up bar normally you would have been stopped out but waiting those two minutes saves you and you get that retrace to sma5

hope it makes sense

thats why I prefer retraces that go back to the ma generally
thanks, i see what you mean, sorry for delay
  • #2,055
  • Apr 28, 2010 7:58pm Apr 28, 2010 7:58pm
hi guys, is this how sho would play the momentum bars?
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  • #2,056
  • Apr 28, 2010 10:23pm Apr 28, 2010 10:23pm
Quoting francis2
Post your trades if you like we can all learn and discuss
I am at work now and can't access the chart.

I have posted the first trade already.

For the second trade, actually, in one of your posts mentioned about going Long on EU and another person saying Long on EJ. I did on both trades on my demo account. At about 11pm Sydney time, I was about to sleep, but having a big up candle on EU. Usually, I can make money on this situation on my demo account. So, I switch on Real Account and enter when it retraced a little bit. When the price dropped a little bit, I add one more contract. When the price start to rise, I add another contract. So, it is 3 contracts on this trade. Those entries aren't very good.

I set the stoploss at 30 pips. If I don't set that big, I will get stopped out in a hitup. I think I need to improve the timing of entry and wait for price stable (inside bar) so that the stop loss won't be that big.

I only set 20 pips TP on each contract which is very conservative. I need to go to sleep anyway.

I used M15 to make decision, but M1 as my working timeframe for enter and exit.

Fracis, I learn a lot from you. I will trade in Demo account for the next few days. I don't really feel comfortable in Forex trading yet.

Another thing, I do a lot of rubbish trades in my Demo account. I really learn a lot from those rubbish trades.
  • #2,057
  • Edited 12:39am Apr 29, 2010 12:19am | Edited 12:39am
Not a good set up, and under pressure once open, so cut with small profit.

Shit: what it turn up finally!! (2nd chart)
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  • #2,058
  • Apr 29, 2010 12:34am Apr 29, 2010 12:34am
Hi Tang,

For sharing only.

May be you should consider to adjust the R/R to more than one, so that even you are 50/50 on winning ratio, then you can, at least a positive balance.

Cheers
City



Quoting Tang63
I am at work now and can't access the chart.

I have posted the first trade already.

For the second trade, actually, in one of your posts mentioned about going Long on EU and another person saying Long on EJ. I did on both trades on my demo account. At about 11pm Sydney time, I was about to sleep, but having a big up candle on EU. Usually, I can make money on this situation on my demo account. So, I switch on Real Account and enter when it retraced a little bit. When the price dropped a little bit, I add one more contract. When the price start...
  • #2,059
  • Apr 29, 2010 1:06am Apr 29, 2010 1:06am
A good set up initially, got +5 didn't take, manual cut coz divergence and EJ seems even worst at the moment
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  • #2,060
  • Apr 29, 2010 1:37am Apr 29, 2010 1:37am
eu +10
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