Short entry here with 15 pip risk - against the 15 min upward move but with prevailing HTF downward channel.
Rob
Rob
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Intraday price action trend trading
- #5,602
- Sep 22, 2010 10:26am Sep 22, 2010 10:26am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Short entry here with 15 pip risk - against the 15 min upward move but with prevailing HTF downward channel.
Rob
- #5,603
- Sep 22, 2010 4:16pm Sep 22, 2010 4:16pm
It's been a very slow week for me, Only up +8 pips so far this week. I've had a few b/e trades and two -5 pip losses. 
. I'm not seeing setups that I like, I don't trade to just to trade , I give my self the best opportunity to be successful, I trade to make money. Sometimes I have a lot of trades some times I have a few trades. Remember this, it's better to have 5 trades a week and make money than to have 20 trades and lose money.
. I'm not seeing setups that I like, I don't trade to just to trade , I give my self the best opportunity to be successful, I trade to make money. Sometimes I have a lot of trades some times I have a few trades. Remember this, it's better to have 5 trades a week and make money than to have 20 trades and lose money.
- #5,604
- Sep 22, 2010 4:20pm Sep 22, 2010 4:20pm
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
Hero calls followed by margin calls...
- #5,605
- Sep 23, 2010 12:47am Sep 23, 2010 12:47am
It's been a very slow week for me, Only up +8 pips so far this week. I've had a few b/e trades and two -5 pip losses.
It's been a very slow week for me, Only up +8 pips so far this week. I've had a few b/e trades and two -5 pip losses.
We are here to make money.
Only trade the best odds
pip
- #5,607
- Sep 23, 2010 3:59am Sep 23, 2010 3:59am
Hi all!
Im well underway plowing through the thread, loving the addition of keltner channel so far in my trading, great for getting into a move when you dont catch the start
Here is a trade i just closed out on u/c. I missed the first entry after the impulsive move when the red bar closed above the first band, but got a second entry on the buob where i entered. Had a res line on .03439 where i exited.
Im well underway plowing through the thread, loving the addition of keltner channel so far in my trading, great for getting into a move when you dont catch the start
Here is a trade i just closed out on u/c. I missed the first entry after the impulsive move when the red bar closed above the first band, but got a second entry on the buob where i entered. Had a res line on .03439 where i exited.
- #5,608
- Sep 23, 2010 6:48am Sep 23, 2010 6:48am
Hi all!
Im well underway plowing through the thread, loving the addition of keltner channel so far in my trading, great for getting into a move when you dont catch the start
Here is a trade i just closed out on u/c. I missed the first entry after the impulsive move when the red bar closed above the first band, but got a second entry on the buob where i entered. Had a res line on .03439 where i exited.
Hi guys,
Hope all having a great weekend. Im off surfing in a bit wuuu!!!
Good surf swell here this weekend...
Anyways, im posting because i was asked to post these questions here by Mr Sho so that he could explain and help us all.
-----
PM # 1:
Hi Sho,
Hope all is well your end.
I wanted to ask you a quick question.
Im wanting to combine retracement trendlines into the mix with your intraday method.
But since you have years of experience and you probably have seen a lot i wanted to know what you think to it.
Ive attached the post for easier reference along with chart examples of what i mean.
http://www.forexfactory.com/showpost...postcount=5562
either way thank you for all the help you have provided.
Omar
-----
PM # 2:
Hi Sho,
2 quick questions if i may please:
1) when you say trade with the bigger trend.
Could yu define this please? Do you mean the trend on the NEXT higher timeframe/s or the trend of the chart i trade?
2) When you say enter on breakouts (of retracement flag) is there anyway i can reduce the amount of fakeouts?
Right now im focusing on 5 charts on 10 currencies.
I wait for momentum move, pullback, pa formation and enter.
However, ive noticed that retracements that form a nice flag formation are the best setups. A LOT better than 1 or even 2 bar pullbacks.
Im trading like you do (i think lol) but on the 5m charts. Only addition is the flags.
Thank you again Sho.
Would be nice to see you again around here.
Here is a picture to explain the thoughts:
http://www.forexfactory.com/attachme...2&d=1284984752
-----
with that being said, may you all enjoy your weekend!
pip
Hope all having a great weekend. Im off surfing in a bit wuuu!!!
Good surf swell here this weekend...
Anyways, im posting because i was asked to post these questions here by Mr Sho so that he could explain and help us all.
-----
PM # 1:
Hi Sho,
Hope all is well your end.
I wanted to ask you a quick question.
Im wanting to combine retracement trendlines into the mix with your intraday method.
But since you have years of experience and you probably have seen a lot i wanted to know what you think to it.
Ive attached the post for easier reference along with chart examples of what i mean.
http://www.forexfactory.com/showpost...postcount=5562
either way thank you for all the help you have provided.
Omar
-----
PM # 2:
Hi Sho,
2 quick questions if i may please:
1) when you say trade with the bigger trend.
Could yu define this please? Do you mean the trend on the NEXT higher timeframe/s or the trend of the chart i trade?
2) When you say enter on breakouts (of retracement flag) is there anyway i can reduce the amount of fakeouts?
Right now im focusing on 5 charts on 10 currencies.
I wait for momentum move, pullback, pa formation and enter.
However, ive noticed that retracements that form a nice flag formation are the best setups. A LOT better than 1 or even 2 bar pullbacks.
Im trading like you do (i think lol) but on the 5m charts. Only addition is the flags.
Thank you again Sho.
Would be nice to see you again around here.
Here is a picture to explain the thoughts:
http://www.forexfactory.com/attachme...2&d=1284984752
-----
with that being said, may you all enjoy your weekend!
pip
- #5,611
- Sep 27, 2010 5:54am Sep 27, 2010 5:54am
Hi guys
Been pretty choppy on most pairs this morning!
Hoping I could get some input on these two au trades from earlier.
The arrows are my trigger signal, opened on the next candle.
Now the first one, for me at least, is a pretty decent entry. Price broke out with some momentum from the wedge, came down to mid kc and formed my entry pin. The next candle broke long but didnt get high enough by a few pips to get it to break even so took a 10pip loss there.
The next one is the one im more uncertain about, its the same candle that took me out, it went down to the broken tl and shot back up and created another pin. Now I had just had a similiar trade like that on usd/chf a little earlier where the first pin got stopped out, the same candle went down but pushed up again and created a engulfing/ pin bar that i took, worked out well.
Now this pin however closed lower which did concern me as it could seem like the new impulsive wave was now corrective. Should it been a tip for holding down the long here? How would you guys approach it?
Any input much appreciated!
Been pretty choppy on most pairs this morning!
Hoping I could get some input on these two au trades from earlier.
The arrows are my trigger signal, opened on the next candle.
Now the first one, for me at least, is a pretty decent entry. Price broke out with some momentum from the wedge, came down to mid kc and formed my entry pin. The next candle broke long but didnt get high enough by a few pips to get it to break even so took a 10pip loss there.
The next one is the one im more uncertain about, its the same candle that took me out, it went down to the broken tl and shot back up and created another pin. Now I had just had a similiar trade like that on usd/chf a little earlier where the first pin got stopped out, the same candle went down but pushed up again and created a engulfing/ pin bar that i took, worked out well.
Now this pin however closed lower which did concern me as it could seem like the new impulsive wave was now corrective. Should it been a tip for holding down the long here? How would you guys approach it?
Any input much appreciated!
- #5,612
- Edited 7:52am Sep 27, 2010 7:34am | Edited 7:52am
Hi guys
Been pretty choppy on most pairs this morning!
Hoping I could get some input on these two au trades from earlier.
The arrows are my trigger signal, opened on the next candle.
Now the first one, for me at least, is a pretty decent entry. Price broke out with some momentum from the wedge, came down to mid kc and formed my entry pin. The next candle broke long but didnt get high enough by a few pips to get it to break even so took a 10pip loss there.
The next one is the one im more uncertain about, its the same candle that took me...
In my wiev if I can .You can see demand zone is lower so enter @ that pin bar with biger SL and if u see next bar is something like doji bar so try to get out with smaller lost and u can see price really bounced from demand zone.Second option,just wait for better opurtunity wich was that another pin bar.
Anyway that is only how I see things.
FX
- #5,613
- Sep 27, 2010 8:20am Sep 27, 2010 8:20am
Hey Storeball
In my wiev if I can .You can see demand zone is lower so enter @ that pin bar with biger SL and if u see next bar is something like doji bar so try to get out with smaller lost and u can see price really bounced from demand zone.Second option,just wait for better opurtunity wich was that another pin bar.
Anyway that is only how I see things.
FX
Thanks for you input, appreciate it!
I see your point about setting sl behind demand zone, downside is that it would doubble my sl. My profit target for the trade was the last high there which would give me 1 to 1 with sl behind my trigger. But perhaps in this case its best to go for the bigger sl and bigger gain. In hindsight it would've worked great
That next bar actually didnt take me out, kept me in by half a pip
, the next bar after that was an inside bar where i moved my stop behind, so cut my risk in half. That just broke long before it came crashing back and took me out by 2 pips or something before eventually going higher.
