Update on asia EU trade second order got stopped at +15....Vantage this is great stuff when the rules are applied....I still have a little trouble with watching the hour and m15 but getting better with practice...
GU 1hr should we fall 4850 may cause a bounce with a target around the pivot around 4800, should we go up 125 pips up from low look for major area and that seems around 5035.
1st trade on the 1min shooting star after it had broke the wick of the hourly candle with the low of the bullish 15min having been broke -7pips got out when it couldn't break 4875 which is my weekly ms1. Do you think I could have exited this one sooner Vantage with 75 being a strong support?
and on days when there is news coming out do how long before it do you stop trading or do you even stop?
1st trade on the 1min shooting star after it had broke the wick of the hourly candle with the low of the bullish 15min having been broke -7pips got out when it couldn't break 4875 which is my weekly ms1. Do you think I could have exited this one sooner Vantage with 75 being a strong support?
and on days when there is news coming out do how long before it do you stop trading or do you even stop?
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Reflex to be honest I wouldn't have entered there for a 1 min entry its gone too far.
We waited for RN to come back and be tested which at around 25 pips retrace is typical of gu and around +10 moved to BE but at least we gave ourselves a chance of getting to BE.
Reflex to be honest I wouldn't have entered there for a 1 min entry its gone too far.
We waited for RN to come back and be tested which at around 25 pips retrace is typical of gu and around +10 moved to BE but at least we gave ourselves a chance of getting to BE.
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how do you decide when it has gone to far for you to do a 1min entry?
or is it just something you have a feel for?
how do you decide when it has gone to far for you to do a 1min entry?
or is it just something you have a feel for?
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We work on same principle as 5 min entry ie we'd like to be getting in on a retrace lh/hl so we have some confidence there has been an attempt to counter move thats failed. Also as mentioned before try 1 min entries where there has been a 5 min small counter trend candle (hammer/SS, doji, inside candle).
We missed a lovey hl system trade on eur but never mind.
Got this hl on gu 1 hr doji 15 min pos close. Out at +20 yes I know its too early but news was coming up and auto bank indi was going crackers!!
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I got in the same one. Personally, because the 5min candle closed below 4900, I was preferably looking for a 1min HL above 4900 or a quick break of the 5min candle 4 to the left (where it seems your entry may be). Just wondering if you took the trade based off the break of that 4904 candle high or if you went for the 4900 1min HL entry? I ask only because this is one of those setups that it if didn't pull back to 4900 may have taken off without me or I could have missed out on optimal entry. It's always a little tough when the big numbers are involved. Since it was a solid system trade it was likely to push through that round number, though.
I got in the same one. Personally, because the 5min candle closed below 4900, I was preferably looking for a 1min HL above 4900 or a quick break of the 5min candle 4 to the left (where it seems your entry may be). Just wondering if you took the trade based off the break of that 4904 candle high or if you went for the 4900 1min HL entry? I ask only because this is one of those setups that it if didn't pull back to 4900 may have taken off without me or I could have missed out on optimal entry. It's always a little tough when the big numbers are involved....
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We missed the system sell on 5 min about 8 candles prior as it closed right on RN. We said OK its system buy so (as much as we were worried abut RN) as soon as it went 1 pip over set up we entered.
got this one +16 pips 15min bearish 1hour bearish 5 min entry exited trade at daily S1 what do you think V?
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Thats a great trade 1hr was down, 15 min down nice 5 min lh.
Mrs V took the 5 min shooting star lower high about 6 candles earlier and exited at BE as the 1hr hadn't turned. She didn't go in on the one you did and I was not at computer.
Thats a great trade 1hr was down, 15 min down nice 5 min lh.
Mrs V took the 5 min shooting star lower high about 6 candles earlier and exited at BE as the 1hr hadn't turned. She didn't go in on the one you did and I was not at computer.
100% system trade.
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Cheers
I think I missed a long but I wasn't to sure about the hourly close so I left it. the 15min was bearish but the entry on the 5min would have been taking out the wick of the 15min bar I was about to do it but thought the hour looked to indecisive what do you think of this one? target would have been 14946-14950.
Cheers
I think I missed a long but I wasn't to sure about the hourly close so I left it. the 15min was bearish but the entry on the 5min would have been taking out the wick of the 15min bar I was about to do it but thought the hour looked to indecisive what do you think of this one? target would have been 14946-14950.
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Yes 1hr was a doji, 15 min wick taken out but we didn't take because of the last 2 1hr candles. It is prob a trade.
With the success others are having with eur we have put that up again. It was in the quietish time so neither of us were in front of computer but eur was 100% system trade and its gone up nicely. I'd rather take a 100% system trade than force something. If that gu buy failed you'd be kicking yourself for how long to get some discipline. Tradings hard enough as it is without messing your head with unnecessary pressure over dicey trades.
I took it out of signature here so I'll repeat what is part of our daily routine that we read (it includes our D target, our system trades the 4 set ups we'll trade and a few other things):
Discipline is the bridge between goals and accomplishments.
Poor self discipline is the quickest way to lose your money.
I've attached that eur move no question as to any of the system trades here.
Yes 1hr was a doji, 15 min wick taken out but we didn't take because of the last 2 1hr candles. It is prob a trade.
With the success others are having with eur we have put that up again. It was in the quietish time so neither of us were in front of computer but eur was 100% system trade and its gone up nicely. I'd rather take a 100% system trade than force something. If that gu buy failed you'd be kicking yourself for how long to get some discipline. Tradings hard enough as it is without messing your head with unnecessary pressure over dicey trades....
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Cheers V I agree I'm gald I didn't do it if I had would have been a loser!lol no need to take any risks with your method.
2B Reversal (a variation of the Trader Vic 1-2-3 reversal)
http://www.dacharts.com/images/2b.gif"In an uptrend, if prices penetrate the previous high but fail to carry through and immediately drop below the previous high, the trend is apt to reverse. The converse is true for downtrends." [Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master"] The 2B principle gets its power from the large number of stop-loss orders in the area of the X. Many traders who bought the breakout will have their stop-loss orders there, so if prices fall below the blue line those stops will be hit, driving prices back down with thrust. If you enter a short as the breakout traders are bailing out of their positions, the burst of selling can propel your trade into the green so quickly that, before you can enter your stop-loss order, prices have moved far enough in your favor to set your initial stop-loss at break even. The inverse is equally effective for 2B bottoms. Another name for the 2B is "spring." Imagine the blue line in the graphic as a rubber band. The bigger the poke above the blue line, the stronger the reversal potential if the breakout fails. This same principle works on failed triangle breakouts and failed trendline breakouts. If you were unfurtunate and bought the breakout, instead of putting just a stoploss at the X, consider making it a stop-and-reverse. This pattern occurs at the tops and bottoms of consolidations as well as at major reversals.
