intraday trend trading with price action | Page 98 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MultiTimeFrame Trend Trading with Price Action 242 replies

Price Action at Major Support or Resistence (Horizontal) - For Intraday Traders 179 replies

Intraday price action trend trading 10,404 replies

Any Recommendations on Learning Intraday Price Action Trading 5 replies

Price Pattern Notifications/Trend Alert Price Action Scanner 7 replies

Attachments: intraday trend trading with price action
Exit Attachments

intraday trend trading with price action

  • #1,941
  • Apr 26, 2010 3:59am Apr 26, 2010 3:59am
Quoting jakdan
hi gents,
reading thread and finding very interesting, however only up to page 21 and i need to foind out how to set up the keltner bands, i have them on met 4 but they dont look like anyone elses
what settings do we use? time frames mas etc,
thanks in advance
jakdan, see Sho's post here

15 min timeframe.

All the best
Rob
  • #1,942
  • Apr 26, 2010 4:25am Apr 26, 2010 4:25am
rob,
thanks for the quick reply, but where does the 10 go?
i have mine in length?
0 on time frame
0 on MA type
0 shift
0 price
4 on times atr

still not looking the same channels are far too wide,

cheers
Stop killing our Oceans, Stop using single use plastics.
  • #1,943
  • Apr 26, 2010 4:35am Apr 26, 2010 4:35am
Quoting jakdan
rob,
thanks for the quick reply, but where does the 10 go?
i have mine in length?
0 on time frame
0 on MA type
0 shift
0 price
4 on times atr

still not looking the same channels are far too wide,

cheers
My set up is shown below.
The indicator is downloadable from here
Attached Image
  • #1,944
  • Apr 26, 2010 4:44am Apr 26, 2010 4:44am
rob

got it brilliant, and thanks again
Stop killing our Oceans, Stop using single use plastics.
  • #1,945
  • Apr 26, 2010 6:01am Apr 26, 2010 6:01am
Hey sho,

Dunno if you have time, but could you explain the Market Maker Trap setups that form on our charts and if possible, how to avoid them?
Nothing is true, Everything is permitted
  • #1,946
  • Apr 27, 2010 6:52pm Apr 27, 2010 6:52pm
The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range.
thats why its better than only moving avarage.
some one said in the very first of this thread that it doesnot provide support and resistant.i think he does not know that it contains moving avarage as well.
if moving avarage act as support and resistant why keltner channel would not.
keltner got both MA and ATR.
any way if u search the net u will find enough info about keltner channel.
Linda Raschke used the keltner channel in trading as well.she used diffrent settings .it is lot better than bollinger band or any single moving avarage(imho).it is more smooth.

u guys stick with what works for u.i posted this because lots of people did not know what keltner channel is. and why i use that.now i think u have better idea about that.if i can will post some trades chart tommorow.
again with the basic chart with kelthner channel.
been busy doing spread bet and normal trading.made few grands last two days.spread bet is tax free trading in the uk.i had to concentrate more because bigger stack with A+ setups.
i only do spread bet if i see any A+ set up in the london session .i play big money on each possition.10 point win or loss mean big amount of money.
keep helping each others and ask each others about the setup.if u discuss u will gain more knowledge from each others. from today i will keep a screen for u guys with auto refresh.so i will see what u guys are doing in both thread.more later
happy trading
sho
  • #1,947
  • Apr 27, 2010 8:54pm Apr 27, 2010 8:54pm
Hi Sho,

Tks for the clean explanation about my mis-understanding on KC & MA. Yes, I'm still struggling on which one would work better for me.

BTW, a series of stories will be come soon?

All the best and happy trading.
City

Quoting trade price
The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range.
thats why its better than only moving avarage.
some one said in the very first of this thread that it doesnot provide support and resistant.i think he does not know that it contains moving avarage as well.
if moving avarage act as support and resistant why keltner channel would not.
keltner got both MA and ATR.
any way if u search the net u will find enough info about keltner channel.
Linda Raschke...
  • #1,948
  • Apr 28, 2010 4:27am Apr 28, 2010 4:27am
Nice thread !
just read through it and did my first trade.
Are the marked lines(white) right ? And would these be valid trades ?
the last arrow shows the trade i did, unfotunately my stupid trade management EA closed it too early ~.~

thx !
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.JPG Size: 64 KB
Never whishing, always trading.
  • #1,949
  • Apr 28, 2010 10:28am Apr 28, 2010 10:28am
Sho, I have two questions:

First: you said spreads in UK are tax free, do you know where I can find wich spreads are tax free?

Second question: which are the advantages you see Keltner has over bollinger bands?

Many Thanks
Tow In
  • #1,950
  • Apr 28, 2010 12:05pm Apr 28, 2010 12:05pm
Quoting Hova
Nice thread !
just read through it and did my first trade.
Are the marked lines(white) right ? And would these be valid trades ?
the last arrow shows the trade i did, unfotunately my stupid trade management EA closed it too early ~.~

thx !
yes that was nice.u r doing great.

Quoting Tow In
Sho, I have two questions:

First: you said spreads in UK are tax free, do you know where I can find wich spreads are tax free?

Second question: which are the advantages you see Keltner has over bollinger bands?

Many Thanks
Tow In
spread and spread bet is two diffrent animal.i was talking about spread bet.profit is free from tax in the uk.uk law calls it gambling.thats why its tax free.
if u search the word spread bet u will find lots of info.

ur second question:
Keltner Channels helps to define a smoother range of price using ATR . Kelter Bands are similar to Bollinger Bands except that Keltner uses an ATR volatility method while Bollinger Bands use a standard deviation method.
it would not widen when stong trend in place.if u plot both indicator on the charts u will see the diffrence.and i have added a chart with both of them.
happy trading
sho

Attached Image (click to enlarge)
Click to Enlarge Name: diffrence.gif Size: 16 KB
  • #1,951
  • Apr 29, 2010 3:44am Apr 29, 2010 3:44am
sho
i also spread bet, normally just on the indices, dow, s and p, nasdaq, however the charts i use for the spread betting platform cannot produce the keltner channel,(which i now like) is there a platform like met 4 for indices which you, or anyone else knows of ?
just starting in forex but really enjoying your teaching, and i expect it will also help me in my indice trading lessons also,
thanks in advance ant
Stop killing our Oceans, Stop using single use plastics.
  • #1,952
  • Apr 29, 2010 10:36am Apr 29, 2010 10:36am
seting the profit target.
Rob(ptice action) asked me by pm thats why i am explaining.
first of all remember u have to change your trading plan day by day until ur fully confident .change your bad habits.train ur self to trade like a robot.
what does it mean?
it means everyday keep doing whats works for u and dont do what does not.
review your trades every night .while u u are trading mark them if u can .where u entered and where u exited and why.that will be very first step to become a successfull trader.
if u are biginner set stop to 3:1.what does it mean is that u can have more wrong trades and still make money. and if u still dont make money there is no need to worry.
after that if u think your profit target doesnot reach 3:1.
than reduce it to 2.5:1.and still if u think ,your trade does not reach your profit target.than reduce it to 2:1.
it doesnot mean u cant get out of the market if momentum changed.allways manage the trade actively
when u will find a R:R ratio that suits u .stick with that.
if u are experiance u can go for low R:R ratio.but u need higher hit rate.and u have to be very fast.
every person is diffrent and their risk tolarence as well.some people doesnot have gut to hold a possition too long.some loves to hold onto trades.
now i will tell u how i manage the trade in fx day trading.i manage difrent time frame diffrenly.i will call it its an Art.
what i have found is in fx day trading.most of the pairs will give u 2:1 then it will give u a pullback .thats why my basic profit target is 2:1.but if i see it was first or second impulsive move of the the current intraday trend than i will hold it as long as momentum stays strong.if its 5th or more than that than will close most of the trades for 1:1 .and i manage quick in and out.dont wait for bigger R:R.
specialy choppy day if i trade i manage to get quick in and out.u cant expect bigger move in the choppy market.
choppy days mean supply and demand (sellers and buyer) levels are equally respected by the market .
those days are tough to trade.if u can spot .stop trading as soon as u realise its a flat day.or if u trade,do that very carefully.
  • #1,953
  • Apr 29, 2010 10:53am Apr 29, 2010 10:53am
Quoting jakdan
sho
i also spread bet, normally just on the indices, dow, s and p, nasdaq, however the charts i use for the spread betting platform cannot produce the keltner channel,(which i now like) is there a platform like met 4 for indices which you, or anyone else knows of ?
just starting in forex but really enjoying your teaching, and i expect it will also help me in my indice trading lessons also,
thanks in advance ant
(please note i am not refering any broker or service,what i use that is presenting)only for spread bet trading i use them.
can u tell me which charting platform u use or which broker ?.i am with IG.they have deal through chart mean u can trade directly from chart.only plus account have that facility.i am with them from long time.i have account with cmc and barclays as well but so far IG is best.cmc and barclay did let me down few times.eventhough if its 5 or 10 bucks per point still they will reqoute u or u would not get filled.but with IG if its over 50 bucks per point still u will get faster fill.and most of my spread bet is bigger. few seconds will cost me a lot.in day trading late fill mean very bad.thats what i dont like.
  • #1,954
  • Apr 29, 2010 11:36am Apr 29, 2010 11:36am
Sho,

Before I make anything silly (coz my understanding in English is not like you guys), I just want to ensure the exact meaning of 3:1 or 2:1 in your post:

3:1 = Risk : reward ratio or the other way round?

Sorry Sho being so stupid.

(If I dont ask, I wont get it right)

City




Quoting trade price
seting the profit target.
Rob(ptice action) asked me by pm thats why i am explaining.
first of all remember u have to change your trading plan day by day until ur fully confident .change your bad habits.train ur self to trade like a robot.
what does it mean?
it means everyday keep doing whats works for u and dont do what does not.
review your trades every night .while u u are trading mark them if u can .where u entered and where u exited and why.that will be very first step to become a successfull trader.
if u are biginner set stop to 3:1.what...
  • #1,955
  • Apr 29, 2010 12:05pm Apr 29, 2010 12:05pm
Hi great code man, never see you been here
  • #1,956
  • Apr 29, 2010 1:17pm Apr 29, 2010 1:17pm
sho,
i use finspreads for my spread betting, i used to have an ig account about 10 year ago but they werent online and finspreads were the first i believe? so i just stuck with them, they also had very small limits per point. i still have the ig account but i have never used it for years so it will probably be closed,
i have only recently started to trade often as i have recently been made redundant, and i need the income, i used to only "play" the markets with penny's just for a hobby,and experience and did it longer term, now i can watch the markets i was also looking for a different angle. forex? there seems to be a lot more swings on a daily basis, only my opinion at the moment as i am still very new to it, read your thread and the dance up to now, both very enlightening, although yours seems to suit my idea of trading??? we will see. anyway keep up the good work and i apologise to all the other readers for distracting from the thread,
best of luck gentlemen,
cheers ant
P.S its amazing how clear the charts look after reading your thread
Stop killing our Oceans, Stop using single use plastics.
  • #1,957
  • Edited 6:39pm Apr 29, 2010 6:28pm | Edited 6:39pm
Quoting jakdan
sho,
i use finspreads for my spread betting, i used to have an ig account about 10 year ago but they werent online and finspreads were the first i believe? so i just stuck with them, they also had very small limits per point. i still have the ig account but i have never used it for years so it will probably be closed,
i have only recently started to trade often as i have recently been made redundant, and i need the income, i used to only "play" the markets with penny's just for a hobby,and experience and did it longer term, now i can watch the...
probably u dont know.barclays spread bet and finspresds both run by the city index.
and if u cant find kelthner use envelop seting 10 with deviation 0.10. and add 10 period simple moving avarage in 15min time frame. it will give u similer setup. u cant trade all the financial with them.they have limited security to trade.hope it helps.

Quoting Buildcity
Sho,

Before I make anything silly (coz my understanding in English is not like you guys), I just want to ensure the exact meaning of 3:1 or 2:1 in your post:

3:1 = Risk : reward ratio or the other way round?

Sorry Sho being so stupid.

(If I dont ask, I wont get it right)

City
bigger part is profit.
happy trading
sho
  • #1,958
  • Apr 30, 2010 1:22am Apr 30, 2010 1:22am
thanks sho, i will give it a go,
Stop killing our Oceans, Stop using single use plastics.
  • #1,959
  • Apr 30, 2010 3:20am Apr 30, 2010 3:20am
Hi all

Top thread this, been lurking for a while and reading. Sho very much enjoy your posts. Thanks for the contribution to FF.

Just had a quick question if you have any time.

Do you take account of daily ATR at all in your trades? like for example if ATR(100) is say 120 on EUR/USD, would you watch the current daily range and avoid trading against the outside of the range once it gets close to a full days move or do you just continue to hit the trend until it reverses.

For me I often see price slow down after a days move but you get the odd day where price will burst through and make an exponential move. Was just wondering your thoughts on this?

Cheers
Want what the market wants
  • #1,960
  • Apr 30, 2010 5:16am Apr 30, 2010 5:16am
Quoting DangerBoy
Hi all

Top thread this, been lurking for a while and reading. Sho very much enjoy your posts. Thanks for the contribution to FF.

Just had a quick question if you have any time.

Do you take account of daily ATR at all in your trades? like for example if ATR(100) is say 120 on EUR/USD, would you watch the current daily range and avoid trading against the outside of the range once it gets close to a full days move or do you just continue to hit the trend until it reverses.
momentum will tell us when price would not move any more.when trend is finish for the day
Quote
For me I often see price slow down after a days move but you get the odd day where price will burst through and make an exponential move. Was just wondering your thoughts on this?
Cheers
again if momentum is in the market we will trade.this is the reason i dont use avarage daily moves.odd days are great to make money.those days are strong trending market days and lots of volume in the market.i love odd days.most people are scared to take the possition after daily ATR moves.
but why market still moves after the daily ATR ? because big boys are in the market.
hope it make sence.
1 trader viewing now