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Intraday price action trend trading

  • #4,181
  • Jul 15, 2010 9:12am Jul 15, 2010 9:12am
Catch this break out, but now still dropping

Cos the US news, so late entry
Attached Image
  • #4,182
  • Jul 15, 2010 9:13am Jul 15, 2010 9:13am
Quoting trade price
my eu trade.(60+)
did not moved the stoped.nearly got stoped out.but its a nice trade.
if you follow the plan you will make a lots in this bussines.
Beautiful Sho
  • #4,183
  • Jul 15, 2010 9:20am Jul 15, 2010 9:20am
Catch another one on another break

Haha too quick, no time to take pic
Attached Image (click to enlarge)
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  • #4,184
  • Jul 15, 2010 9:36am Jul 15, 2010 9:36am
Smae place, same trade

Third times
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  • #4,185
  • Jul 15, 2010 9:45am Jul 15, 2010 9:45am
I just opened buy position,big supp on USDJYP and i risk about 60 pips and go for minimum 60 pips on my first target


What you think guys ?


Oh i am first time on this thread,wish you all good pips
Attached Image (click to enlarge)
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"Buy on fear, sell on greed !!!
  • #4,186
  • Jul 15, 2010 9:51am Jul 15, 2010 9:51am
Quoting trade price
My man
entry is allways not the same (sometime limit most of the time market orders).
sometime you wouldnot get enough time for limit order.
there is many way you can skin a cat.
what i teach is what i do.there is nothing fixed in trading.you have to dance with the market.you cant allways use limit or always market orders.it will depend on market and price action.this is the best thing about my methood ,no fixed rules.we change with the market.(only one hard rule-presurve your capital).

i tell my fellow traders,dont marry any abc...

Thanks for your input Sho,

If possible and time permits you could you give me an example of when you would (discretionately) apply limit/stop/market entries?

Thanks either way again!

Looking forward to learning and sharing here.

Great place to be for those commited

Cheers
  • #4,187
  • Jul 15, 2010 9:59am Jul 15, 2010 9:59am
Quoting Petar_Serbia
I just opened buy position,big supp on USDJYP and i risk about 60 pips and go for minimum 60 pips on my first target


What you think guys ?


Oh i am first time on this thread,wish you all good pips
Mine was also triggered at that price as well, Nice demand zone..
  • #4,188
  • Jul 15, 2010 10:00am Jul 15, 2010 10:00am
I also have 2 buy positions from yesteeday on EURUSD and Cable we will see current good plus on both about 140 pips from each,hope i will see TP


Hillo looks good and we will see ...





CHeers


Petar
Attached Image(s) (click to enlarge)
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"Buy on fear, sell on greed !!!
  • #4,189
  • Jul 15, 2010 10:22am Jul 15, 2010 10:22am
Hi
Had a Long trade on EU.
RR 2:1

My SL is about 15pips. I got my TP.
But I was wondering if the momentum is still on the long side.
Should I continue to let my profit run?
At the sametime, I had experience returning all the profit to BE
because I did not TP. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD_15 Mins.png Size: 20 KB
  • #4,190
  • Edited 12:06pm Jul 15, 2010 11:53am | Edited 12:06pm
Quoting Veritos
Hi
Had a Long trade on EU.
RR 2:1

My SL is about 15pips. I got my TP.
But I was wondering if the momentum is still on the long side.
Should I continue to let my profit run?
At the sametime, I had experience returning all the profit to BE
because I did not TP. Thanks.
Veritos,

Great trade. You took about all that the market offered on this occasion which is excellent.

If you managed the trade by moving the SL to the bottom of the previous bar, you would have still bagged about 30 pips.

If momentum continued (but it didn't), moving the SL up like this might have help you capture the extra pips.

RE: getting stopped out at BE ...
It all depends on how we trade. City is quick to bank profits and so he is in and out very fast which will result in being stopped out less. I tend to wait, sometimes too long and get stopped out more. Maybe City or Sho will tell you more about this.

Great work!
Rob
  • #4,191
  • Jul 15, 2010 12:05pm Jul 15, 2010 12:05pm
Hey sho,

attached is a screenshot on which I would like to hear your opinion... in your "manual" you are talking about outsidebar entries.. here we see not exactly an outsidebar, but a bullish engulfing pattern... do you see this pattern equal to an outsidebar or du you not suggest using it?


thanks in advance!
Attached Image
  • #4,192
  • Edited 1:16pm Jul 15, 2010 12:45pm | Edited 1:16pm
Quoting trade price
its a bullish flag pattern.
both bar is equal a bullish pin bar(higher TF)

ah ok i get it, thanks ... but let's assume it was not such a flag..you would take an enugulfing bar as it is ?
today in EU m15 0945 gmt we have a good example, too.. it is not an outsidebar, but an engulfing pattern ( m30 pin )...don't know if it can be labeled as a flag.. but I mean the two bar pattern only.. damn it's hard to explain with my english skills
  • #4,193
  • Jul 15, 2010 1:05pm Jul 15, 2010 1:05pm
Quoting priceaction
Veritos,

Great trade. You took about all that the market offered on this occasion which is excellent.

If you managed the trade by moving the SL to the bottom of the previous bar, you would have still bagged about 30 pips.

If momentum continued (but it didn't), moving the SL up like this might have help you capture the extra pips.

RE: getting stopped out at BE ...
It all depends on how we trade. City is quick to bank profits and so he is in and out very fast which will result in being stopped out less. I tend to wait, sometimes too long...
Thanks Rob ,
for your reply and advises. Moving the SL to previous bar low(high) would be better to wait till the price drop back to BE. At least, I get to count some pips out of it. Although BE also met the objective of "Preserving Capital". But of cos, prefer to do counting of pips!!!

THANK YOU!
Moo
  • #4,194
  • Jul 15, 2010 3:49pm Jul 15, 2010 3:49pm
Quote
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...
]

thanks for you explanation City, and stop being modest cause i have seen your posts you are pulling pips every day out of the market you are consistent with your gains an that is the goal of every one expert or not, wish one day i can replicate you my friend...
  • #4,195
  • Jul 15, 2010 8:35pm Jul 15, 2010 8:35pm
Quoting Fxfighter
Attachment
Hi FxFighther, Sho & Seniors

How do you clarify "outside" (bars)?
Are there also "inside" (bars)?
Or all are meant the same (as I read from Steve Nixon's candlesticks) as bullish or bearish engulfing bars?

Sorry my understanding/English, if I bother you (just want to be sure I got the terms correct)

Thank you for taking your time.

tpat
  • #4,196
  • Jul 15, 2010 11:26pm Jul 15, 2010 11:26pm
Quoting Thenew
]

thanks for you explanation City, and stop being modest cause i have seen your posts you are pulling pips every day out of the market you are consistent with your gains an that is the goal of every one expert or not, wish one day i can replicate you my friend...
Tks for the nice words Thenew.
We all here may have different approaches to trade, just pick those comfortable for you to learn. I have long way to Sho's professional (for me he's almost perfect), or Rob whose analysis is always valuable and he is patient enough to let his profit run. Also remember Francis whose trades were also brilliant, quick and profitable!!

Those guys above have their own edge, now we (including me) are developing our own depend on our personality, thats the thing really cant change.

Oh, I am acting as an old man and talk too much.

Nice to have all the old friends here.
City
  • #4,197
  • Jul 15, 2010 11:33pm Jul 15, 2010 11:33pm
Quoting tradpat
Hi FxFighther, Sho & Seniors

How do you clarify "outside" (bars)?
Are there also "inside" (bars)?
Or all are meant the same (as I read from Steve Nixon's candlesticks) as bullish or bearish engulfing bars?

Sorry my understanding/English, if I bother you (just want to be sure I got the terms correct)

Thank you for taking your time.

tpat
Hi mate,

Dont hesistate to ask, some days before I asked what was pin bar

those attachment here may help you to understand the basic of candlestick / bar formation.

http://www.forexfactory.com/showpost...postcount=1216

Hope this help
City
  • #4,198
  • Jul 16, 2010 2:20am Jul 16, 2010 2:20am
EURJPY just provided a good example of price reaching a previous demand zone and entering a trade off an OB with a small stop.

The move might even go further but 40+ pips was possible from that one big momentum bar - and many would be happy with that.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY 15 Min 16 July 2010.jpg Size: 80 KB
  • #4,199
  • Jul 16, 2010 2:28am Jul 16, 2010 2:28am
Quoting priceaction
EURJPY just provided a good example of price reaching a previous demand zone and entering a trade off an OB with a small stop.

The move might even go further but 40+ pips was possible from that one big momentum bar - and many would be happy with that.

Rob
Caught 20 only

PS - Honest, I could understand much better from your chart like this, keep this style
  • #4,200
  • Jul 16, 2010 2:30am Jul 16, 2010 2:30am
Possible
Attached Image (click to enlarge)
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Annoying Precision
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