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The IGROK files - Adventures of a rookie using the Igrok method

  • #101
  • Jul 3, 2010 4:52am Jul 3, 2010 4:52am
Quoting FxChi
I couldn't get the range indicator to work in Vhands, but if you do, by all means please let me know.

In the meantime, we can always review past charts and take notes of what signals A+ trades. I know I have my weekend planned.
Hi FXChi,

I've started playing around with the vTerminal simulator and managed to get the Range indicator, and weekday colour indicators to work. I just dragged and dropped them on the screen and they work fine.

I've attached the indicators I've been using incase you use a different version. Good luck.

Thanks for the simulator idea - my weekends will not be the same now!

Attached File(s)
File Type: mq4 # RANGE_TRADER_9.09 Labais53.mq4   20 KB | 384 downloads

Attached File(s)
File Type: mq4 MagnusColorBarForAWeekDay.mq4   3 KB | 331 downloads
  • #102
  • Jul 5, 2010 2:45am Jul 5, 2010 2:45am
Good morning all,

First trade of the day is a slightly risky 20.6 on USDJPY, risky because we are going against a longer term trend. However, today's main move is up for now. SL is set to 32 pips with reverse order in place, but this will be revised as trade progresses.

Attached Image (click to enlarge)
Click to Enlarge Name: 3 jul usdjpy 20.6.gif Size: 19 KB


Those who follow the Igrok Q&A thread will know the reasons I took this trade because it was Jupiter Peak who evaluated the situation for this pair, and his TA is sound to me.

Peace and good trading for the day peeps
  • #103
  • Jul 6, 2010 1:32am Jul 6, 2010 1:32am
Quoting niteshift02
Good morning all,

First trade of the day is a slightly risky 20.6 on USDJPY, risky because we are going against a longer term trend. However, today's main move is up for now. SL is set to 32 pips with reverse order in place, but this will be revised as trade progresses.

Attachment

Those who follow the Igrok Q&A thread will know the reasons I took this trade because it was Jupiter Peak who evaluated the situation for this pair, and his TA is sound to me.

Peace and good trading for the day peeps
PA on this trade didn't move as planned. Unfortunately SL was hit overnight and reverse order triggered, only for price to move against me again. So -32 pips down today, with price against me on reverse order trade.

Attached Image (click to enlarge)
Click to Enlarge Name: 3 jul usdjpy 20.6a.gif Size: 21 KB


Interesting but unpleasant situation to be in, what would be the best option: close the trade and accept another loss, wait and see if it will move in my direction again, set another reverse order?
I think I'll need to evaluate the pair to see what the next likely move is. But this is another reason not to leave trades unattented, unless you're already in profit.

Peace, may your trades be better than mine
  • #104
  • Jul 6, 2010 1:51am Jul 6, 2010 1:51am
Quoting niteshift02
Morning all,

Thought I'd go for an ADR template his morning, 18.1 on Cable. All moves and trends are up, entered trade as price went from low and now up past the previous session high.

Attachment

The only thing which I dislike about the 18.1 is the high SL which must be placed at the other side of the daily range. SL currently 57 pips with reverse order. But I'm aiming for the P2 or P3 target.

Peace and good trading y'all
This trade was opened on Friday, but price didn't move anywhere until yesterday. My SL was hit for -57 pips, but reverse order kicked in and started moving in my favour. Could've recovered all my losses overnight, but sleep was the only thing I was dealing with at 2am in the morning.

Attached Image (click to enlarge)
Click to Enlarge Name: 2nd jul gbpusd 18.1a.gif Size: 23 KB


Price is in a large ascending channel, although not entirely conforming neatly to the TLs. If channel is valid, we should see price move in a bearish direction mid term. This may not happen of course, but in the meantime I'm in possession of yet another losing trade.
  • #105
  • Jul 6, 2010 2:30am Jul 6, 2010 2:30am
Both reverse trades hit SLs for a combined loss of -84 pips. That'll teach me for not taking the oppurtunity to limit my losses yesterday. So basically these losses were caused by bad managment on my part.

Right, that's it, rest of the week will be different now, no more bad trades and poor excuses.
  • #106
  • Edited 6:54am Jul 6, 2010 6:38am | Edited 6:54am
USDCAD has formed a comb or similar formation on 5/15min chart. I've gone short and would consider this a low risk trade as it's in line with the strong main move of the day.

Attached Image (click to enlarge)
Click to Enlarge Name: 4th jul usdcad 20.2.gif Size: 24 KB


SL currently set at 30 pips. If the pair continues moving strongly, then a 1hr div target of 1.0465 could be a longer term target.
  • #107
  • Jul 6, 2010 7:07am Jul 6, 2010 7:07am
Quoting niteshift02
USDCAD has formed a comb or similar formation on 5/15min chart. I've gone short and would consider this a low risk trade as it's in line with the strong main move of the day.

Attachment

SL currently set at 30 pips. If the pair continues moving strongly, then a 1hr div target of 1.0465 could be a longer term target.
You sold straight into support when you could of applied #18.4 on the intra-week basis and bought on the pullback with tight sl below current weeks low. Just an example, niteshift02...
  • #108
  • Jul 6, 2010 7:20am Jul 6, 2010 7:20am
Quoting niteshift02
USDCAD has formed a comb or similar formation on 5/15min chart. I've gone short and would consider this a low risk trade as it's in line with the strong main move of the day.

Attachment

SL currently set at 30 pips. If the pair continues moving strongly, then a 1hr div target of 1.0465 could be a longer term target.

SL hit by spike, trade wiped out.
  • #109
  • Jul 6, 2010 7:29am Jul 6, 2010 7:29am
Quoting belekas
You sold straight into support when you could of applied #18.4 on the intra-week basis and bought on the pullback with tight sl below current weeks low. Just an example, niteshift02...
Thanks Belekas, I need all the help I can get right now. Do you see the pair moving bullishly for the long term?

I chose to go short because I saw a resistance line at the top of the day's range for the last few days, and today's move seemed strong enough to indicate a possible reversal:

Attached Image (click to enlarge)
Click to Enlarge Name: 4th jul usdcad.gif Size: 19 KB


My SL got wiped out anyway, but it's still going down at the moment creating a new low for the week.

Thanks
  • #110
  • Jul 6, 2010 7:39am Jul 6, 2010 7:39am
Quoting niteshift02
Thanks Belekas, I need all the help I can get right now. Do you see the pair moving bullishly for the long term?

I chose to go short because I saw a resistance line at the top of the day's range for the last few days, and today's move seemed strong enough to indicate a possible reversal:

Attachment

My SL got wiped out anyway, but it's still going down at the moment creating a new low for the week.

Thanks
Mid-term trend is bullish, you can clearly see that on 1hr tf. Today we have first day with mainmove beying down thus that doesnt give us a signal to go short yet. We will know more after todays close and perhaps then apply #18.4 tommorow on the pullback and go short in favour of todays main move. This is how we are stacking the odds in our favour. Next thing we have possibly made a top on the dailies with a huge potential diamond in formation. And to finish my quick post check 1hr tf and notice a nice ascending channel, nearly parallel that is in play now, so as I think you should understand by now is that your short entry was against the mid-term trend and was killed quicker then you thought it would. Always remember why I say Price Action is king...Hope I spark some sense...
  • #111
  • Jul 6, 2010 8:19am Jul 6, 2010 8:19am
Quoting belekas
Mid-term trend is bullish, you can clearly see that on 1hr tf. Today we have first day with mainmove beying down thus that doesnt give us a signal to go short yet. We will know more after todays close and perhaps then apply #18.4 tommorow on the pullback and go short in favour of todays main move. This is how we are stacking the odds in our favour. Next thing we have possibly made a top on the dailies with a huge potential diamond in formation. And to finish my quick post check 1hr tf and notice a nice ascending channel, nearly parallel that is...
Thanks belekas, I'm grateful for the insight you have provided me with. I noticed the channel on 1hr TF:

Attached Image (click to enlarge)
Click to Enlarge Name: 4th jul usdcad.0.gif Size: 20 KB


My hope was to at least stay in the trade long enough to hit the lower TL, and then take it from there (Looks like that lower TL is broken now). In any case, what you're saying is basically stack the odds in our favour before even considering entering a trade:

No shorts against mid term trend
One day where main move is against mid term trend is not a good enough signal to indicate trend reversal

I am trying to check everything now before entering any trade. I think if my SL was high enough today I would've profited, but this would've been by luck it seems.

Thanks for your help belekas, your help is always appreciated.
  • #112
  • Jul 6, 2010 8:26am Jul 6, 2010 8:26am
My hope was to at least stay in the trade long enough to hit the lower TL, and then take it from there (Looks like that lower TL is broken now). In any case, what you're saying is basically stack the odds in our favour before even considering entering a trade:

Sadly hope doesn't work in trading.

No shorts against mid term trend
One day where main move is against mid term trend is not a good enough signal to indicate trend reversal

Yes.

I am trying to check everything now before entering any trade. I think if my SL was high enough today I would've profited, but this would've been by luck it seems.

SL is predifined ingriedent before you enter a trade and theres abolutely no point discussing this issue any further.
  • #113
  • Jul 6, 2010 8:43am Jul 6, 2010 8:43am
Quote
Sadly hope doesn't work in trading.

At least I know one thing in Forex trading that is a constant unchangeable fact. I should use that quote in my sig

And let that be a lesson to you all!
  • #114
  • Jul 7, 2010 3:08am Jul 7, 2010 3:08am
Morning all,

Decided to go for an intraweek 18.4 long on cable. Tight stop of 15 pips was very tempting, along with long/mid term uptrend. Reverse order in place in case plan goes wrong.

Attached Image (click to enlarge)
Click to Enlarge Name: 5th jul gbpusd possible intraweek 18.4b.gif Size: 19 KB
  • #115
  • Jul 8, 2010 3:02am Jul 8, 2010 3:02am
Quoting niteshift02
Morning all,

Decided to go for an intraweek 18.4 long on cable. Tight stop of 15 pips was very tempting, along with long/mid term uptrend. Reverse order in place in case plan goes wrong.

Attachment
Update on my intraweek 18.4 trade. Trade was over +100 pips at one point, but bears are coming out to play. Looks like a possible broadening triangle is forming, let's see if a lovely diamond appears during today:

Attached Image (click to enlarge)
Click to Enlarge Name: 5th jul gbpusd possible intraweek 18.4b.0.gif Size: 24 KB


Moved my stop to +50 pips in case price moves against me. Not entirely sure how a intraweek 18.4 should be managed. Do I trail a stop, like I'm doing now, or leave stop at original place? My target is 90-100% of AWR, although there is the chance that current bullish mid term trend may suddenly turn around and the pair completes its' range below the current weekly low. Decisions, decisions
  • #116
  • Jul 8, 2010 4:20am Jul 8, 2010 4:20am
Quoting niteshift02
Update on my intraweek 18.4 trade. Trade was over +100 pips at one point, but bears are coming out to play. Looks like a possible broadening triangle is forming, let's see if a lovely diamond appears during today:

Attachment

Moved my stop to +50 pips in case price moves against me. Not entirely sure how a intraweek 18.4 should be managed. Do I trail a stop, like I'm doing now, or leave stop at original place? My target is 90-100% of AWR, although there is the chance that current bullish mid term trend may suddenly turn around and...
Trailing stop hit for +50 pips. Will I regret having a trailing stop to begin with? Possibly, but I need to learn from the experience. Ideally I'd of liked to have kept my original SL in place, and traded this like any other 18.4, but the fear of losing gains can be overwhelming. Maybe price is moving down again as part of a retrace, only time will, but sticking to a plan can be very difficult at times. Still, profit is profit, so won't complain.
  • #117
  • Jul 8, 2010 9:37am Jul 8, 2010 9:37am
TERRY TIBBS!!!!!!!!!!!!! ahahahahha

where u from in ldn mate?
  • #118
  • Jul 8, 2010 12:39pm Jul 8, 2010 12:39pm
Quoting Sim
TERRY TIBBS!!!!!!!!!!!!! ahahahahha

where u from in ldn mate?
Yes, I'm from London, 'Talk tah me'!

You're the first person here to recognize him Now if I had some monies I would give you a prize, so give me your bank account details and sort code sir, so I can arrange a transfer from the bank of Uganda
  • #119
  • Jul 8, 2010 4:56pm Jul 8, 2010 4:56pm
Quoting Sim
TERRY TIBBS!!!!!!!!!!!!! ahahahahha

where u from in ldn mate?
Neasden, NW Ldn
  • #120
  • Jul 9, 2010 3:36am Jul 9, 2010 3:36am
Good morning all,

First trade of the day was executed earlier and is an 18.1 on e/u. Although I could have had a better entry point, I entered on the break of the previous session high. Due to PA being in a larger channel which I discovered later (doh!), I maybe should have planned this trade better using a channel template such as a 19.6, but all trends and MMs are UP, so the probabilities should be in my favour. My target is an old 1hr div around 1.2744, so as long as price dosen't break my 30 pip SL at the session low, I expect it to continue moving north. There are no obvious resistance zones that I can see apart from the channel upper TL. I may consider entering another position should price touch the channel lower TL again and bounce off it.

Attached Image (click to enlarge)
Click to Enlarge Name: 7th jul eurusd 18.1.gif Size: 22 KB
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