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Trading "The Constrictor"

  • #121
  • Aug 19, 2010 2:37am Aug 19, 2010 2:37am
Quoting Pirabuji
Hey Ghous,

Another question (sorry if i'm asking too many) with the ET5, after the EMA cross do you have a criteria for the number of bars that are allowed to pass before a trigger bar appears?
Not really P,

It's more of a visual thing. What we need is the Emas to cross and the 21 then the 21 dipping/rising again while price gives off a decent trigger bar.

And don't be worried about asking questions. I would well have done this entire thing on excel/word if I were allergic to questions and/or suggestions.

g.
I believe . . .
  • #122
  • Aug 19, 2010 2:42am Aug 19, 2010 2:42am
Quoting Pirabuji
Ghous thanks for your response.

What about the BEB previous to the IB isn't that a valid trigger point to go short?
A very weak entry signal IMHO. I did a post yesterday where I explained that ET3s are best taken on immediate rejections of the 21. I see it was more like a 3rd rejection off the same pull back.

The 28 july IB was a lot better. Do you see why? A nice down trend going and a nice pull back to allow the 21 to catch up. Notice the IB was the result of an immediate rejection off the 21.

g.
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I believe . . .
  • #123
  • Aug 19, 2010 2:59am Aug 19, 2010 2:59am
Quoting Pirabuji
Hey Ghous what do you mean by a nonthreatening pull back? can you show on a chart? - do you mean only take a trigger bar on its first pull back to the 21ema?
Yes. An ET3 off the first rejection "in some time" of the 21 EMA works well. Unless you have a really good trigger bar going with heaps of space you don't want to be messing with trigger bars that form because price is pulling back again and again within the same pull back.

A non threatening pull back refers to a pull back where the bars are small and don't pose any threat to the dominant party. So if you have a down trend going. Price stops at a BRN and you see a big bullish outside bar followed by a strong break and a bullish bar that touches the 21 EMA and you then have an IB for a trigger bar. shorting this IB would be a lot more risky than in a situation where price sort of "drags" along to the 21 ema with small bullish bars or neutral bars rather than those big threatening BUBs and BUOBs that are bouncing off BRNs/key locations. Get the point?

g.
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I believe . . .
  • #124
  • Aug 19, 2010 3:12am Aug 19, 2010 3:12am
Quoting ghous
Yes. An ET3 off the first rejection "in some time" of the 21 EMA works well. Unless you have a really good trigger bar going with heaps of space you don't want to be messing with trigger bars that form because price is pulling back again and again within the same pull back.

A non threatening pull back refers to a pull back where the bars are small and don't pose any threat to the dominant party. So if you have a down trend going. Price stops at a BRN and you see a big bullish outside bar followed by a strong break and a bullish bar that touches...
Here's another example of a threatening pull back and what it can do.

g.
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I believe . . .
  • #125
  • Aug 19, 2010 7:09am Aug 19, 2010 7:09am
Ghous love your responses and charts, keep them coming

what do you mean by a long tail shows up right where the pullback started?


Looking at the picture below, had the red pull back occured without the yellow one, i take it you would have taken the ET4 bar? But then without the yellow pull back the EMAs wouldn't have been as flat like that. Am i right in assuming for an ET4 play, we want price to pull back slowly and hover around or above the EMAs to flatten and then get a nice large ET4 trigger bar?


Quoting ghous
Here's another example of a threatening pull back and what it can do.

g.
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  • #126
  • Aug 19, 2010 9:28am Aug 19, 2010 9:28am
Quoting Pirabuji
Ghous love your responses and charts, keep them coming

what do you mean by a long tail shows up right where the pullback started?


Looking at the picture below, had the red pull back occured without the yellow one, i take it you would have taken the ET4 bar? But then without the yellow pull back the EMAs wouldn't have been as flat like that. Am i right in assuming for an ET4 play, we want price to pull back slowly and hover around or above the EMAs to flatten and then get a nice large ET4 trigger bar?
Yup yup, you got it!

g.
I believe . . .
  • #127
  • Aug 19, 2010 11:23am Aug 19, 2010 11:23am
Quoting ghous
A non threatening pull back refers to a pull back where the bars are small and don't pose any threat to the dominant party...
Lovely explanation mate! Totally agree ghous, am usually aware of this kind of price action but sometimes I have itchy fingers and I "forget" about it.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #128
  • Aug 19, 2010 7:46pm Aug 19, 2010 7:46pm
How about a little more cribbing on my missed setups?

This one was just about as good as an ET4 gets

I was thrilled to see Shep catch this, and it's actually funny he didn't even take it as a constrictor trade, as he wasn't aware of the system till then, either ways this was a sweet trade Shep!

g.
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I believe . . .
  • #129
  • Aug 19, 2010 7:47pm Aug 19, 2010 7:47pm
Quoting soso
Lovely explanation mate! Totally agree ghous, am usually aware of this kind of price action but sometimes I have itchy fingers and I "forget" about it.
Tell me about it man!

lol
I believe . . .
  • #130
  • Aug 19, 2010 7:49pm Aug 19, 2010 7:49pm
I am eagerly watching for an ET5 on this one.

g.
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I believe . . .
  • #131
  • Aug 19, 2010 7:56pm Aug 19, 2010 7:56pm
Like I had planned I let this one do it's thing, the pair looks heavily bearish over the long term and although we didn't have the greatest of ET2 trigger bars the overall setup had some serious merit going with it.

It tested those twin bar lows to the left earlier this week and the rest of the week was spent on the pull back/bounce off those twin lows.

Price is around those lows for the second time now and I won't allow it to bounce off once again and give that ugly "non-momentumish" close on the weekly bar while threatening to continue on with the pull back (and by then a potential reversal of the over all down trend)

stop to BE.

g.
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  • #132
  • Aug 23, 2010 3:50am Aug 23, 2010 3:50am
I have done a few basic videos explaining the 5 entry methods that I use to trade the system with,

As we go along I'll be doing more of them specially to archive my trade management strategies in real time.

I am not a pro when it comes to speaking in English (not my first language) or doing trading related videos so go easy on me please.

I've linked the videos' website address on the first page.

g.
I believe . . .
  • #133
  • Aug 23, 2010 4:34am Aug 23, 2010 4:34am
Quoting ghous
I have done a few basic videos explaining the 5 entry methods that I use to trade the system with,

As we go along I'll be doing more of them specially to archive my trade management strategies in real time.

I am not a pro when it comes to speaking in English (not my first language) or doing trading related videos so go easy on me please.

I've linked the videos' website address on the first page.

g.
Whoooaaa Mate.....

Where are you going with all this stuff.....

I have't saw that quality of (FREE) Technical educational stuff for a long time now. You made me jump out of my cave with those videos.

Well done Ghous.
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  • #134
  • Aug 23, 2010 4:36am Aug 23, 2010 4:36am
Quoting nasir.khan
Whoooaaa Mate.....

Where are you going with all this stuff.....

I have't saw that quality of (FREE) Technical educational stuff for a long time now. You made me jump out of my cave with those videos.

Well done Ghous.
.
Nasir!

Damnit! Where the hell were you man?!?! with all the stuff that's been going around the country you got me worried.

I believe . . .
  • #135
  • Aug 23, 2010 4:42am Aug 23, 2010 4:42am
Quoting ghous
Nasir!

Damnit! Where the hell were you man?!?! with all the stuff that's been going around the country you got me worried.

hew:
Ahhh yea things not pretty around our corner. But i dwell on hills and pretty much safe as of writing this post. But don't know what coming next these days.

Was around much here on FF cause of restrictions on FF in my office but i asked the IT guy to lift them for me cause it my last month in office, so just starting getting around. But don't think i missed something special by the looks of it.

Trading was horrible in July-Aug. As you know things are never very easy with touch trading and low liquidity add's problems.
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  • #136
  • Aug 23, 2010 4:45am Aug 23, 2010 4:45am
trading's been always horrible, lol!
Enter Signature
  • #137
  • Aug 23, 2010 4:53am Aug 23, 2010 4:53am
Quoting nasir.khan
Ahhh yea things not pretty around our corner. But i dwell on hills and pretty much safe as of writing this post. But don't know what coming next these days.

Was around much here on FF cause of restrictions on FF in my office but i asked the IT guy to lift them for me cause it my last month in office, so just starting getting around. But don't think i missed something special by the looks of it.

Trading was horrible in July-Aug. As you know things are never very easy with touch trading and low liquidity add's problems.
.
That's the view i get from my Doorstep.
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  • #138
  • Aug 23, 2010 7:11am Aug 23, 2010 7:11am
Quoting nasir.khan
That's the view i get from my Doorstep.
.
Nice!

looking forward to your posting more now that you have access to FF.

g.
I believe . . .
  • #139
  • Aug 24, 2010 3:28am Aug 24, 2010 3:28am
Hey Ghous,

Have you had any set ups / eyeing any potential set ups?
  • #140
  • Aug 24, 2010 5:15am Aug 24, 2010 5:15am
Quoting Pirabuji
Hey Ghous,

Have you had any set ups / eyeing any potential set ups?
On the lookout for any cherries P,

Will obviously put them up here as and when I find and hopefully take em'

g.
I believe . . .
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