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Intraday price action trend trading

  • #2,281
  • May 5, 2010 7:08am May 5, 2010 7:08am
Last few mins, now is moving.............
  • #2,282
  • May 5, 2010 7:32am May 5, 2010 7:32am
Sho,

Picture I posted was from demo account. I waited for retrace to .7194, which was in region of 50% pullback. Reduced SL by 6 pips.

This similar setup ocurred in EU and other pairs, but Keltners wern't indicating down trend as strongly as NU.

Is this a trade set up you would take.

Regards

Martin
  • #2,283
  • May 5, 2010 7:43am May 5, 2010 7:43am
Hi, all:

For three days, I only had one trade won with +13 pips with real account. keep losing.

I just switched to the demo account, I got +144.5 pips with few trades by shorting EU and GU.

I never played against the trend during last few days. Always short GU and EU, but got stopped out all the time.

I think the only different is that
1. both pairs moving fast now.
2. And I moved the stop loss 20 to 30 pips away while I am playing Demo account.
3. My timing for exit is just perfect while playing demo account.

So, for me:
When to trade/entry + where to place stop loss = Win or lost.
  • #2,284
  • May 5, 2010 7:50am May 5, 2010 7:50am
[quote=trade price;3697936]morning guys.
problem with my firefox.trying to post from last few minutes.

to DAVE(sutts).

if u read ROB'S post you will get the idea.why it did not worked.
eventhough resistant above i would have taken the first entry(aggresive play ).in the second one u can see insiude bar break from resistant level so thats a definately short.and u can see break out retested as well to validate .


Thanks for confirming Sho, I should have seen that inside bar.
  • #2,285
  • May 5, 2010 9:19am May 5, 2010 9:19am
Just a question to all seniors in here, would you recommend trading tomorrow ?

there are so much news going on the next two days...

thx
Never whishing, always trading.
  • #2,286
  • May 5, 2010 9:40am May 5, 2010 9:40am
Sho,

Try and retry, fix and remove the KC from time to time. I think I ready have question on this and would like your suggestion.

See GU M15 today, the pin bar just breaks the support zone (and double top) and the momentum is downward, but the price is far away from the KC even the outer band, should we still go for short by next bar?

I still struggling on whether to put the KC on, without it, I trust I would go for short coz after DB, we would set the TP about same width downward distance.

Your suggestion please.
City
Attached Image (click to enlarge)
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  • #2,287
  • May 5, 2010 10:02am May 5, 2010 10:02am
Take note of this current set up (1 min ago)
Remember - price can go either way but I'm short.
Rob
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 172 KB
  • #2,288
  • Edited 10:36am May 5, 2010 10:18am | Edited 10:36am
Quoting priceaction
Take note of this current set up (1 min ago)
Remember - price can go either way but I'm short.
Rob
Really hard Rob, the price just playing between the resistance and r/n.
Hope you well,

Cheers
City
  • #2,289
  • May 5, 2010 10:41am May 5, 2010 10:41am
Quoting priceaction
Take note of this current set up (1 min ago)
Remember - price can go either way but I'm short.
Rob
That's an 11 pip loss
Can't and won't ever win 'em all.
  • #2,290
  • May 5, 2010 10:46am May 5, 2010 10:46am
Quoting priceaction
That's an 11 pip loss
Can't and won't ever win 'em all.
honest, i even no idea on which direction.
  • #2,291
  • May 5, 2010 10:53am May 5, 2010 10:53am
a small 123 formation finish whole long order within same bar. and great support from r/n. (actually big drop about 500 in 2 days) really scare
Attached Image
  • #2,292
  • May 5, 2010 11:07am May 5, 2010 11:07am
Hi Tang,

For sharing,

You feel more comfort while trying the demo as there is no presure. But real money is a kind of emotional stuff.

BTW, we always have accept orders from demo but re-quote quite many times in real a/c. I think you should also take these into consideration.

Cheers mate
City



Quoting Tang63
Hi, all:

For three days, I only had one trade won with +13 pips with real account. keep losing.

I just switched to the demo account, I got +144.5 pips with few trades by shorting EU and GU.

I never played against the trend during last few days. Always short GU and EU, but got stopped out all the time.

I think the only different is that
1. both pairs moving fast now.
2. And I moved the stop loss 20 to 30 pips away while I am playing Demo account.
3. My timing for exit is just perfect while playing demo account.

So, for me:
When to trade/entry...
  • #2,293
  • May 5, 2010 11:10am May 5, 2010 11:10am
Quoting priceaction
That's an 11 pip loss
Can't and won't ever win 'em all.
it was a nice set up.could have been a BE.
u did not closed when 2nd bar(formed) did break?
Quoting Tang63
Hi, all:

For three days, I only had one trade won with +13 pips with real account. keep losing.

I just switched to the demo account, I got +144.5 pips with few trades by shorting EU and GU.

I never played against the trend during last few days. Always short GU and EU, but got stopped out all the time.

I think the only different is that
1. both pairs moving fast now.
2. And I moved the stop loss 20 to 30 pips away while I am playing Demo account.
3. My timing for exit is just perfect while playing demo account.

So, for me:
When to trade/entry...
yesterday was briliant for our methood(and every day)
  • #2,294
  • May 5, 2010 11:57am May 5, 2010 11:57am
Quoting trade price
it was a nice set up.could have been a BE.
u did not closed when 2nd bar(formed) did break?
Yes Sho, I was not focused enough to move to BE.
And that cost me 11 pips.
Still a lot of wok to do.
  • #2,295
  • May 5, 2010 6:36pm May 5, 2010 6:36pm
Quoting Buildcity
BTW, we always have accept orders from demo but re-quote quite many times in real a/c. I think you should also take these into consideration.
City
Buildcity:

A newbie question, what does "re-quote many time in real a/c" refers to?

Now, I decide to stop using Demo account unless trying new method or new platform. I will open an real account with Gomarket. Gomarket has micro account which is $0.1/pip. Hardly lose anything with this kind of account.
  • #2,296
  • May 5, 2010 7:45pm May 5, 2010 7:45pm
Quoting Tang63
Buildcity:

A newbie question, what does "re-quote many time in real a/c" refers to?
I have a chat with Go Market about this:

You are now chatting with 'Go Markets'
Go Markets: How may I help you today?
you: I would like to ask about L-plate account
you: Are they real account?
you: with the same real data feed with Regular lot?
Go Markets: yes, correct
you: Do you re-quote my order?
Go Markets: No, no requotes
you: Typically, how fast do you execute a market order?
Go Markets: within a second
you: If I make A$100, does it mean you will lose A$100?
Go Markets: No. We dont take the opposite side to your trades
you: Very good
you: Who is another side?
Go Markets: We simply pass your trades to a hedging partner. You are not trading directly against someone
you: What is typical spread for EU?
Go Markets: 1-pip is around the typical during the liquid times
you: Even with L-plate account?
Go Markets: yes
  • #2,297
  • May 6, 2010 12:00am May 6, 2010 12:00am
Quoting Tang63
Buildcity:

A newbie question, what does "re-quote many time in real a/c" refers to?

Now, I decide to stop using Demo account unless trying new method or new platform. I will open an real account with Gomarket. Gomarket has micro account which is $0.1/pip. Hardly lose anything with this kind of account.
A Requote is basically when the price of the underlying pair you want to trade is no longer the price when you submitted your trade ticket. Mostly occurs for market orders but can happen with limits and stops. Most systems allow you to specify a range (+/- couple of pips) which authorize execution of trade from original market order price.

In the context of forex brokers, more specifically brokers that are dealing desk/market makers, you are requoted as a means to slow down your trading which gives them a chance to offset your trade. When you trade thru these type of brokers, they take the other side of all your trades; they take an offsetting position in the interbank to cover that trade. Even with computers, sometimes this can take a few seconds, and in this market, that could mean thousands. If your broker feels your trading style does not give him the opportunity to offset, he will put you on requote as a means to slow you down and discourage your type of trading.
  • #2,298
  • Edited 12:26am May 6, 2010 12:15am | Edited 12:26am
Edit: Rob has given you the proper answer when I was typing out this one..... haha, tks Rob (Priceaction)

Hi Tang,

Sorry for my bad english.

My experience with real a/c is that:

- I used to place market order rather than pending order; whatever open and close;

- Especially when the price is moving quick, sometime I really cant get the desired price to sell / buy / close, the broker simply re-quote another nearby price to me (must be worst off compare to what you placed the order, otherwise the broker simply accepts your order); so all I can do is to accpet the re-quoted price or cancel the order and wait for another moment that I find the price is comfortable

- May be it is not the case for all the brokers, but my 2 (under MT4 platform) do the same thing to me. Sometime really annory

- One more thing on demo a/c, since it is for your practice only, no real money involved, so almost all your orders would be accepted coz the machine just assumpts there is another counter part would take your order / or the borker who also palys the role of counter part.

Hope you understand my explanation.

Cheers
City

Quoting Tang63
I have a chat with Go Market about this:

You are now chatting with 'Go Markets'
Go Markets: How may I help you today?
you: I would like to ask about L-plate account
you: Are they real account?
you: with the same real data feed with Regular lot?
Go Markets: yes, correct
you: Do you re-quote my order?
Go Markets: No, no requotes
you: Typically, how fast do you execute a market order?
Go Markets: within a second
you: If I make A$100, does it mean you will lose A$100?
Go Markets: No. We dont take the opposite side to your trades
you: Very good
you:...
  • #2,299
  • May 6, 2010 12:29am May 6, 2010 12:29am
morning ,
short this eu, sl trailed to B/E
I am not shure this is a Sho methode setup, what do you think?
for me it was an breakout from the bearish flag, hope it will last to the 2800 line
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  • #2,300
  • May 6, 2010 12:33am May 6, 2010 12:33am
Quoting MJurban
morning ,
short this eu, sl trailed to B/E
I am not shure this is a Sho methode setup, what do you think?
for me it was an breakout from the bearish flag, hope it will last to the 2800 line

better pic with the metatrader, i use mt4 chart for analyses but trading wth onóther broker. like RBS and O a nder
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-0216-01.gif Size: 20 KB
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