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Intraday price action trend trading

  • #4,161
  • Jul 14, 2010 4:38pm Jul 14, 2010 4:38pm
City may i ask where do you enter on that first bar, thanks in advance
regards

http://cdn.forexfactory.com/attachme...1&d=1279130505
  • #4,162
  • Jul 14, 2010 8:47pm Jul 14, 2010 8:47pm
Hi Thenew,

This was how I played last night (my time), the daily top was approached again (see the far left, 4 times failed to test the top resistance), + exhustive up move (+100 run) though the daily range is for reference only, when the moment I entry, I felt the upward force was really slow down and could be another rejection from the same level, well, give it a try by short entry, tight SL right above the top resistance, if it break the s/r, let go, if it went down, at least I have a room to play short till r/n 113. RR is good (for me). Also see the clock I displayed, it was the moment of end of London market, usually the big boys would probably close their trades with profit at this moment, a reverse would usually be happen.
http://www.forexfactory.com/showpost...&postcount=325

You know I'm aggressive, that's my play. but remember what Sho told us, we have to know very well on trend riding method 1st (Sho's classic setup) and keep on making profit from this setup. Then the next / last stage is counter trend trade.

A little suggestion from other experience traders, learn the trend riding method only, trade this only one setup from demo, achieve at least +20p or +30p daily for 3 months, then you can start with min. a/c starting with the lowest lot size to practice the real money, if same result still achieve, then adjust the lot size so to increase your income. For sharing.

PS - I'm no expert still, just for discussion and sharing

City


Quoting Thenew
City may i ask where do you enter on that first bar, thanks in advance
regards
  • #4,163
  • Jul 15, 2010 3:19am Jul 15, 2010 3:19am
Started reading the first thread today. I have made 2 trades using the information and have got 2 winners. I am trading using the m15 like is talked about. I added the 200ema and I check for it's location on different time frames to see if there may be a place that stops the pa from moving. It got me out of one trade before it went against me and the other I exited to early.

As you can see I entered the EJ trade late and exited the AJ trade way to early. These things need to be worked on but I couldn't be happier with how easy this is to follow and the thread is so clear on how to do things.

Thank you sho for putting all the work into this and taking your time to share it.
Attached Images
  • #4,164
  • Jul 15, 2010 3:49am Jul 15, 2010 3:49am
picture talks for itself
Attached Image (click to enlarge)
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  • #4,165
  • Jul 15, 2010 4:13am Jul 15, 2010 4:13am
Quoting xeqter
picture talks for itself
Woooo..... really good long trade, you got the whole long? Thats nice

I missed that as still at work!!
  • #4,166
  • Jul 15, 2010 4:38am Jul 15, 2010 4:38am
Quoting Buildcity
Woooo..... really good long trade, you got the whole long? Thats nice

I missed that as still at work!!
thanks, mate

unfortunately I did not take it.. don't know why.. i spot these setups in advance and say " oh what a beauty.. that's the setup you want to see" i mark the entry and possible profit targets.. but just don't enter. . thats really annoying...
  • #4,167
  • Jul 15, 2010 5:10am Jul 15, 2010 5:10am
I say thats a SMART move. When you do transition to trading these setups your gonna thank yourself.

Quoting xeqter
thanks, mate

unfortunately I did not take it.. don't know why.. i spot these setups in advance and say " oh what a beauty.. that's the setup you want to see" i mark the entry and possible profit targets.. but just don't enter. . thats really annoying...
Annoying Precision
  • #4,168
  • Jul 15, 2010 5:50am Jul 15, 2010 5:50am
Quoting xeqter
thanks, mate

unfortunately I did not take it.. don't know why.. i spot these setups in advance and say " oh what a beauty.. that's the setup you want to see" i mark the entry and possible profit targets.. but just don't enter. . thats really annoying...
Hi xeqter,
You did't enter because what?fear?hm maybe you should do something with your money management.
Just my 2 pips.
FX
  • #4,169
  • Jul 15, 2010 6:00am Jul 15, 2010 6:00am
I was quick getting in but slow getting out of this trade.
Nevertheless, a healthy 24 pip profit.

It could well go further in which case, trailing the SL under the previous 15 min bar would be my typical approach which is great for catching the longer moves; but it's only my 2nd trade today so I wanted some easy pips in the bank.

Rob
Attached Image
  • #4,170
  • Jul 15, 2010 6:10am Jul 15, 2010 6:10am
Quoting priceaction
I was quick getting in but slow getting out of this trade.
Nevertheless, a healthy 24 pip profit.

It could well go further in which case, trailing the SL under the previous 15 min bar would be my typical approach which is great for catching the longer moves; but it's only my 2nd trade today so I wanted some easy pips in the bank.

Rob
Nice catch, and pretty good A++ set up Rob
I'm still struggling with my computer network. So no much trade

City
  • #4,171
  • Jul 15, 2010 6:20am Jul 15, 2010 6:20am
Quoting trade price
city
give your boss some pips and tell him to change it.
Sho
Cant let them know I'm trading

City
  • #4,172
  • Jul 15, 2010 6:30am Jul 15, 2010 6:30am
Sho,

Am I worry too much? I didn't take the nice long trade on M15 (as Rob did) cos the down trend line on daily chart below.
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  • #4,173
  • Jul 15, 2010 6:32am Jul 15, 2010 6:32am
Quoting priceaction
I was quick getting in but slow getting out of this trade.
Nevertheless, a healthy 24 pip profit.

It could well go further in which case, trailing the SL under the previous 15 min bar would be my typical approach which is great for catching the longer moves; but it's only my 2nd trade today so I wanted some easy pips in the bank.

Rob
We never know what will happen next but if we are looking to catch a longer move (if one presents itself) the chart below shows how I would have managed the trade, until I'm stopped out.

This particular move has now offered over 40 pips and it's not over yet. I'm happy with my 23, but this shows one way of managing one of these trades if you want to let it play out until you're stopped out.

Rob
Attached Images
  • #4,174
  • Jul 15, 2010 6:40am Jul 15, 2010 6:40am
Quoting trade price
my man you made my day with your lovely chart!!
Ha ha ...I knew it would
  • #4,175
  • Jul 15, 2010 6:44am Jul 15, 2010 6:44am
Quoting trade price
if setup is good give it a go.we are intraday trader mostly we care the intraday move with the momentum.

if momentum is with your intraday trend give it a shot.(you know what momentum does).if any level breaks with momentum that will be a very good trade.
and make sure you use small stop.
if it fails at any level,just cut it.
Sho,

I posted one way of managing a good move here. Is there an alternative way which you feel works better?

Rob
  • #4,176
  • Jul 15, 2010 6:48am Jul 15, 2010 6:48am
Quoting trade price
if setup is good give it a go.we are intraday trader mostly we care the intraday move with the momentum.

if momentum is with your intraday trend give it a shot.(you know what momentum does).if any level breaks with momentum that will be a very good trade.
and make sure you use small stop.
if it fails at any level,just cut it.
Got it, thks Sho!!

I better early leave today, really cant trade with the network on and off!!

See you guys
City
  • #4,177
  • Jul 15, 2010 6:49am Jul 15, 2010 6:49am
Quoting Buildcity
Got it, thks Sho!!

I better early leave today, really cant trade with the network on and off!!

See you guys
City
See you mate
  • #4,178
  • Jul 15, 2010 7:29am Jul 15, 2010 7:29am
Quoting priceaction
We never know what will happen next but if we are looking to catch a longer move (if one presents itself) the chart below shows how I would have managed the trade, until I'm stopped out.

This particular move has now offered over 40 pips and it's not over yet. I'm happy with my 23, but this shows one way of managing one of these trades if you want to let it play out until you're stopped out.

Rob
Hi Rob,

Thats a pretty solid way to manage positions Totally agree here.

Some people tend to use a "Two bar Trailing Stop". But in many cases its on higher Tf's (>1hr).

I think this is cool for trending scenarios and its something I always consider adding to my style. Some kind of "trailing stop".

Another option is scaling out at regular RR and leave the rest on till exited. Then again, it still needs some kind of trailing method lol.

just my 2 cents.

Omar
  • #4,179
  • Jul 15, 2010 8:33am Jul 15, 2010 8:33am
Quoting priceaction
We never know what will happen next but if we are looking to catch a longer move (if one presents itself) the chart below shows how I would have managed the trade, until I'm stopped out.

This particular move has now offered over 40 pips and it's not over yet. I'm happy with my 23, but this shows one way of managing one of these trades if you want to let it play out until you're stopped out.

Rob
very nice Rob,
even if know how to handle the SL, i have a very hard time in doing it.
Like the EU move i too want to hold this and talked to myself : "i hold this til it breaks thus the former M15 candle, thats my stop"
But then, price goes to 10 pips and stalls, then it fall back 5 pips and i close with 5 pips profit. Dont want a looser if it already had 10 pips

so my pips = +5 +7 +6 = 18
in the hindsight, if i would hold the trade from 45 to 72 that would have been 27 Pips
i think I have to work on this and build up more confidence , so your posting helps very much.
Attached Image
  • #4,180
  • Jul 15, 2010 8:41am Jul 15, 2010 8:41am
Gbp/Usd

Lovely trade with 1.5358 entry and 15 pip stop behind demand zone (1.5343).

Then again it was a Limit entry.

I think the focus here is to wait for price bar confirmation itself.

Do you guys enter with market / stop entries always or are there exceptions to this?

Reason I ask is as i read through Trade Price's info im sure he also uses limit entries.

Cheers and sorry for the "noobiness"

Omar


EDIT: Also with regards to candle/bar formations do you guys use certain brokers? Meaning gmt time? IMHO I understand that each broker will show different bar formations based on their own feed and time. How does this influence you guys trading decisions?

Thanks again!
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