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

  • #201
  • Aug 4, 2010 3:54am Aug 4, 2010 3:54am
Quoting belekas
No problem mate. I have drawn you a channel. Pay attention to the "inside move frequency". Do you see the difference?
Thanks very much for your input Bel. Yes, I see my mistake now. With my previous 'channel', the upper border was basically 2 points connected in space, so not really a valid channel TL, and the inside moves didn't really touch it either. Let me know if I'm missing anything else

The 20.6 looked promising, but would you agree with me and say the lack of acceleration is stacking the odds against a decent short trade?

Thanks again, your help is always appreciated
  • #202
  • Aug 4, 2010 4:01am Aug 4, 2010 4:01am
Quoting niteshift02
Thanks very much for your input Bel. Yes, I see my mistake now. With my previous 'channel', the upper border was basically 2 points connected in space, so not really a valid channel TL, and the inside moves didn't really touch it either. Let me know if I'm missing anything else

The 20.6 looked promising, but would you agree with me and say the lack of acceleration is stacking the odds against a decent short trade?

Thanks again, your help is always appreciated
Tbh with you, I see only 1 legit signal, the early #20.6 you see in my chart. I agree with the philosophy that when price breaks a significant level it will accelerate, but that doesn't mean one should freak out and close the trade. It's aither SL or TP. No thinking in between after you place your bets.
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  • #203
  • Aug 4, 2010 4:20am Aug 4, 2010 4:20am
Quoting belekas
Tbh with you, I see only 1 legit signal, the early #20.6 you see in my chart. I agree with the philosophy that when price breaks a significant level it will accelerate, but that doesn't mean one should freak out and close the trade. It's aither SL or TP. No thinking in between after you place your bets.
Yes, I'm still studying the psychology part of my game and trying to trust my decisions. But I think on this occasion there was enough to put me off continuing in this trade. Even more so after seeing your 20.6 TL, and your assessment of my signals. Thanks
  • #204
  • Aug 5, 2010 6:28am Aug 5, 2010 6:28am
Good day all,

Been watching cable and euro all morning, both bearish short term, and I was tempted to go short today, but main moves for both pairs are now up for the day. I'm also assuming the V formation gives us a clue as to future market intention. On cable all my TLs for the morning have been broken to the upside, so now a long 20.6 in play.

SL 30 pips/3% risk. Let's see how it plays out, hopefully the SL is big enough for now.

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  • #205
  • Aug 5, 2010 9:25am Aug 5, 2010 9:25am
Quoting niteshift02
Good day all,

Been watching cable and euro all morning, both bearish short term, and I was tempted to go short today, but main moves for both pairs are now up for the day. I'm also assuming the V formation gives us a clue as to future market intention. On cable all my TLs for the morning have been broken to the upside, so now a long 20.6 in play.

SL 30 pips/3% risk. Let's see how it plays out, hopefully the SL is big enough for now.

Attachment

Not a good trade, had enough opportunities to get out at BE, should've seen the double top forming and acted on it also. But never mind, lesson learned for next time. I will be trying to avoid V formations from now on, anything can happen after they're formed, so odds of a successful trade can decrease. SL hit for -30 pips/3% loss. Reverse order activated, NY session start managed to help me recover 10 pips/1% before trailing stop got hit. -2% down for today.

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Which way will price go? Could continue down for cable and e/u I'd imagine, USDX shows its making a move for a descending TL on 30min and above TFs, and the next touch should be the breakout. (Props to Mr.C who pointed out the USDX scenario originally)

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I'm out of the action for rest of the day now to enjoy the other things in life, so I wish all my fellow traders peace and good trades
  • #206
  • Aug 6, 2010 3:45am Aug 6, 2010 3:45am
Good day to you all,

My trade of today is a 20.2 on EU. At this point the market is still undecided about who is in control, but I'm placing my bets on the bears because of the comb/TL setup. Secondly the daily range is only 27 pips/22% complete at this point, so I'd expect a breakout of some kind. MY SL is 15 pips/3% risk, but because the range is so low I would expect any losses to be recovered easily through reverse orders if price decides to move up north.

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  • #207
  • Aug 6, 2010 6:43am Aug 6, 2010 6:43am
Quoting niteshift02
Good day to you all,

My trade of today is a 20.2 on EU. At this point the market is still undecided about who is in control, but I'm placing my bets on the bears because of the comb/TL setup. Secondly the daily range is only 27 pips/22% complete at this point, so I'd expect a breakout of some kind. MY SL is 15 pips/3% risk, but because the range is so low I would expect any losses to be recovered easily through reverse orders if price decides to move up north.

Attachment
Closed one lot for +20 pips/+2% gain so that covers my loss yesterday. Not sure which way the NFP news will affect the market at present, looks like news hasn't been released yet at this time as no major moves have unfolded yet. In any case, other lot SL set to BE.
  • #208
  • Aug 6, 2010 8:46am Aug 6, 2010 8:46am
Quoting niteshift02
Closed one lot for +20 pips/+2% gain so that covers my loss yesterday. Not sure which way the NFP news will affect the market at present, looks like news hasn't been released yet at this time as no major moves have unfolded yet. In any case, other lot SL set to BE.
Other lot stopped out at BE. Cancelled my reverse orders earlier as I was out and had no way to monitor them, but would've been nice if I was in the market. Smartphone with MT4 here I come

Looks like the bulls came out and killed the bears dead:

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  • #209
  • Aug 7, 2010 6:54am Aug 7, 2010 6:54am
Hi all,

I finally got the killer KO trade I was looking for at the start of the week. It was an early morning 18.4 that netted me +150 pips/+15% gain on initial account size. The rest of the week wasn't so great with a BE, a loss of -2%, then a win yesterday of +2% which covered my loss of the week.

Overall I'm extremely happy with my performance this week, and I believe this is the fourth week in a row where I've been in profit. This week has also seen my best ever win using the Igrok method.

Still much to learn, but as I've said before, the more time spent in the market and exposure to different situations, the more I believe we can grow as traders, and become more profitable. Again, thanks to Belekas for taking the time to help me out his week, much appreciated as usual.

To my surprise I've had over 10,000 views on this thread since it started over 6/7 weeks ago, so I'm hoping some of you have found this thread useful or helpful, I certainly feel as if I've grown and learned a heck of a lot in the short space of time since starting this, and I hope some of you out there have also.

With that, I wish you all an excellent weekend, and excellent trades for next week.

Peace
  • #210
  • Aug 8, 2010 3:10pm Aug 8, 2010 3:10pm
Hi niteshift02, I just want to congratulate you for your killer trade. Well done!
  • #211
  • Aug 8, 2010 5:44pm Aug 8, 2010 5:44pm
Quoting OGW
Hi niteshift02, I just want to congratulate you for your killer trade. Well done!
Thanks OGW. I hope we can all grab some more killer trades this coming week
  • #212
  • Aug 9, 2010 5:23am Aug 9, 2010 5:23am
Good day to you all,

Went for a counter trend 20.6. Thought there was going to be a triangle, but there was a flat surface before the TL break, and once it broke, it gave me more confidence to go short.

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SL is 25 pips/1.25% risk.
  • #213
  • Aug 10, 2010 1:51am Aug 10, 2010 1:51am
Quoting niteshift02
Good day to you all,

Went for a counter trend 20.6. Thought there was going to be a triangle, but there was a flat surface before the TL break, and once it broke, it gave me more confidence to go short.

Attachment

SL is 25 pips/1.25% risk.
Greetings to you all,

Still in the trade from yesterday, price has broken the channel during the asian session, and there is also a 4hr bearish div to aim for.

What a nice sight to wake up to. Over +100 pips floating profit at this time

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  • #214
  • Aug 10, 2010 3:49am Aug 10, 2010 3:49am
First trade of today, 19.10 on cable. Strong downtrend at the moment, so this triangle should break south. Had a little scare with a false break, otherwise this should go according to plan. SL was 15 pips/1.5 % risked, thankfully it was enough to keep me in the trade.

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  • #215
  • Aug 10, 2010 4:13am Aug 10, 2010 4:13am
Quoting niteshift02
First trade of today, 19.10 on cable. Strong downtrend at the moment, so this triangle should break south. Had a little scare with a false break, otherwise this should go according to plan. SL was 15 pips/1.5 % risked, thankfully it was enough to keep me in the trade.

Attachment
Well, dosen't look like a triangle anymore, inside sequence is funny. More like a comb now, let's see if it breaks. So far the lower TL has shown strong support.

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  • #216
  • Aug 10, 2010 9:35am Aug 10, 2010 9:35am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting niteshift02
Greetings to you all,

Still in the trade from yesterday, price has broken the channel during the asian session, and there is also a 4hr bearish div to aim for.

What a nice sight to wake up to. Over +100 pips floating profit at this time

Attachment

KO Trade...nice job.
"Wishful thinking dies hard." Igor T.
  • #217
  • Aug 10, 2010 10:32am Aug 10, 2010 10:32am
Quoting FxChi
KO Trade...nice job.
Cheers Chi Man

Still in the trade, don't know how long I can hold on for though, I think the buyers are starting to come out, and PA is approaching my trailing stop. Major fed news concerning the dollar coming out in about 2hrs, don't know if it will have the same impact as NFP news.

How you doin' bro? Haven't heard from you in a while. Hope your training is going well and you're making some dough.

Peace
  • #218
  • Aug 10, 2010 10:39am Aug 10, 2010 10:39am
Quoting niteshift02
Well, dosen't look like a triangle anymore, inside sequence is funny. More like a comb now, let's see if it breaks. So far the lower TL has shown strong support.

Attachment
Trailing stop hit and out at +60 pips/+6% gain. Some bullish divs on 5 and 15min charts, it's possible trend could reverse for the short term. Nice earner in any case

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  • #219
  • Aug 10, 2010 11:40am Aug 10, 2010 11:40am
Quoting niteshift02
Greetings to you all,

Still in the trade from yesterday, price has broken the channel during the asian session, and there is also a 4hr bearish div to aim for.

What a nice sight to wake up to. Over +100 pips floating profit at this time

Attachment
Trailing stop hit, out at +170 pips/+8.5% gain. That's definitely my killer KO trade of the week.

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Excellent day for trading, all together up +14.5% on intitial account size for this week. Let's see if I can get another KO trade before the week is done.

Peace
  • #220
  • Aug 10, 2010 4:52pm Aug 10, 2010 4:52pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting niteshift02
...How you doin' bro? Haven't heard from you in a while. Hope your training is going well and you're making some dough.

Peace
Excellent results for the week. Make sure not to give any of your gains back now.

I'm busy retrading in the Matrix. Quite a tedious process but definitely picking up quite a few things and all without the ADR indicator. In any case, hope you keep trading well....nice to see people making trading successfully.
"Wishful thinking dies hard." Igor T.
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