Even i took that one but trailed too agressively and got measely 6 pipsNeed to do some hard thinking about trailing Sl. Initially i teghten it to BE +5/6 pips pretty fast.Often chokes out many good trades.
- #2,324
- Oct 27, 2010 1:24am Oct 27, 2010 1:24am
A signal is a signal, but I'm watching for a temporary reversal here and fear that the Dance signals aren't going to work well until that happens. Waiting and watching before Dancing.
http://i54.tinypic.com/2qjyj5x.png
Good point there. i took it and burnt 10 pips there. Should have seen your post earlier
Net -16 pips now. Next one will be last one for today so will wait for AAAAAAAA+ trade
Making money is easy- Just dont take losing trades
- #2,325
- Oct 27, 2010 2:54am Oct 27, 2010 2:54am
Note: This is NOT dance. Please ignore if you want to stick to pure dance.Its my way of catching those contra trade.
Couple of good contra trades there today. As per my earlier observation, it always pays to take these candles. Just took AU and recovered all losses and then some
Basically what i am looking for is a good move, turning of 10EMA,And finally a huge wick through 10EMA which shows failure to continue previous trend.Am finding these candles very consistent. Not time tested yet but when I see good contra trend setup with these candles I better take it or at least avoid trend trades.
First chart is GU 15M, Second AU 15M
Edit: Like other dance trades these work even in higher time frames. A short setup in EU yesterday was behind this huge crash from 1.3966 though i dont trade higher time frames.
Couple of good contra trades there today. As per my earlier observation, it always pays to take these candles. Just took AU and recovered all losses and then some
Basically what i am looking for is a good move, turning of 10EMA,And finally a huge wick through 10EMA which shows failure to continue previous trend.Am finding these candles very consistent. Not time tested yet but when I see good contra trend setup with these candles I better take it or at least avoid trend trades.
First chart is GU 15M, Second AU 15M
Edit: Like other dance trades these work even in higher time frames. A short setup in EU yesterday was behind this huge crash from 1.3966 though i dont trade higher time frames.
Making money is easy- Just dont take losing trades
- #2,326
- Oct 27, 2010 3:04am Oct 27, 2010 3:04am
Note: This is NOT dance. Please ignore if you want to stick to pure dance.Its my way of catching those contra trade.
Couple of good contra trades there today. As per my earlier observation, it always pays to take these candles. Just took AU and recovered all losses and then some
Basically what i am looking for is a good move, turning of 10EMA,And finally a huge wick through 10EMA which shows failure to continue previous trend.Am finding these candles very consistent. Not time tested yet but when I see good contra trend setup with these candles...
http://i52.tinypic.com/2dsnyxe.png
- #2,328
- Oct 27, 2010 3:36am Oct 27, 2010 3:36am
Nice trade. There was a similar setup on eu. The bar in question was also part of a 15m 10ema constrainment on the long side.
http://i52.tinypic.com/2dsnyxe.png
But as far as i have observed, one can safely take these trades without worrying about higher MAs. These trades either give you good money or give you enough opportunity to exit at small profit. Rarely they take away your SL straight away. In fact most of the times i have found them indicating major reversals.
Making money is easy- Just dont take losing trades
- #2,329
- Oct 27, 2010 8:38am Oct 27, 2010 8:38am
Posts like this are why so many people outright fail at trading, everyone wants something for nothing, everyone is looking for that system that is going to tell them when to trade that will make them rich. IT DOES NOT EXIST SO QUIT LOOKING. The only way to success is hundreds if not thousands of hours of practice and learning to become a successful trader. If you are not willing to put in this kind of effort and dedication do yourself and everyone on this forum a huge favor and quit now.
Only by learning one system and learning it well will anyone...
I was abroad for a bit more than a week with no way to check the forum.
Now back to read and keeping up to date as much as the "slave work"
allows I found some very interesting posts.I couldn't check the forum but I printed out the about 130 pages of "Trading the Zone" posted by Clay in his tools for the hours in the plane...
Did you read it ?
I suggest everybody who is seriously taking Trading Forex for his Life to read it.
Really.
Endroute is bringing here some of the "pearls" in there, so I wanted to underline his post again.
I think to be on the way of understanding (which is really not so easy) that Forex (or whatever else) Trading is NOT ONLY the System.
System is perhaps even the "smallest" part of it.
Our Mind is the way.
I am still only at page 50 and in my free time I will finish to read it even before to open again my MT4.
I think (my personal opinion) that some People here could seriously be on the way to "get there", so I suggest them all to have a serious look at that .PDF
The system surely works.
I just wish I could have more time to follow the charts, but living and working a full time job in Europe I have it hard to be "on line" on the same GU overlap time....
But I understood that beside A LOT of simulator in the evening it MUST be A LOT of Mind Training as well.
Sorry for the long post and hope to post soon again some charts like you all.
You are doing all great.
Keep doing, and let's forget that the market cares about us or our trading.
We and our minds are the only responsible for our results.
- #2,331
- Oct 27, 2010 1:09pm Oct 27, 2010 1:09pm
Basically what i am looking for is a good move, turning of 10EMA,And finally a huge wick through 10EMA which shows failure to continue previous trend.Am finding these candles very consistent. Not time tested yet but when I see good contra trend setup with these candles...
Hi Survivor,
very interesting observation.
And even more interesting to see that you "checked" that advanced rule of Clay yourself.
If I right understand your words, I think you understood one of the advanced rules mentioned in the M15 Dance Manual, I quote Clay's words here below:
*** quote ***
Scooped Away:
This is pretty simple, when the 10 EMA “turns” on one of the charts, the bar after it turns often retests the line. Sometimes the second one does like a “touch” trade in a normal setup. Either way, that retest often presents a fairly solid counter trend entry worth at least 20 pips. If you are usig the Scripts properly, you can take the first TP out really quick, move to Be and wait for the trade to run your way, or bounce at the higher lines and reverse back into the trend of the moment. Just watch the charts, you'll see what I mean.
***unquote***
So this could be an interesting way to "follow" and gain some pips from a revers back over the EMA10 to a possible bounch off an higher MA and than possibly jump on again on the previous trend if the higher MAs keep the price....
Well...imagining this really as a movement...if this is not dancing...what else ?
I'll keep this under check for a while too, even if before I want to feel stronger on the basic rules first.
Anyway, nice brick in our dance castle.
Thank you.
- #2,332
- Oct 27, 2010 9:44pm Oct 27, 2010 9:44pm
Hi Survivor,
very interesting observation.
And even more interesting to see that you "checked" that advanced rule of Clay yourself.
If I right understand your words, I think you understood one of the advanced rules mentioned in the M15 Dance Manual, I quote Clay's words here below:
*** quote ***
Scooped Away:
[font=Times New Roman][size=3]This is pretty simple, when the 10 EMA “turns” on one of the charts, the bar after it turns often retests the line. Sometimes the second one does...
Anyway, thanks for pointing out. now i can be even more confident taking these trades. And i need not put any desclaimer that it's not dance
Making money is easy- Just dont take losing trades
- #2,334
- Oct 27, 2010 11:11pm Oct 27, 2010 11:11pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Oops. You are right. Its not my obersvation. Its right there in manual. I have read the basics there well but havent bothered to try and understand advanced rules yet becuase i believe in learning slowly and properly without getting confused by information overload. I remeber reading this paragraph there but hadnt given much thought to it earlier.
Anyway, thanks for pointing out. now i can be even more confident taking these trades. And i need not put any desclaimer that it's not dance
- #2,337
- Oct 28, 2010 1:07am Oct 28, 2010 1:07am
Nice work Greenhill, i thought it will do some ping pong in the area on 1H but it had just broke it... I'm stopped at +1 so both have some piece of the pie right 
The 10 EMA on M5 gave very good entry point for the shorts here ...
The 10 EMA on M5 gave very good entry point for the shorts here ...
Better to lose opportunity, rather than capital !
- #2,339
- Oct 28, 2010 1:39am Oct 28, 2010 1:39am
I LOVE that green light below! 
Anybody else too ??
I took the confluence of:
* MA10 on M15
* MA50 on H1
* MA62 on H1
* Daily Pivot
but I did not wait for the TP to be achieved and closed at the Weekly pivot at +10.
Next
Anybody else too ??
I took the confluence of:
* MA10 on M15
* MA50 on H1
* MA62 on H1
* Daily Pivot
but I did not wait for the TP to be achieved and closed at the Weekly pivot at +10.
Next
- #2,340
- Oct 28, 2010 1:47am Oct 28, 2010 1:47am
I LOVE that green light below!
Anybody else too ??
I took the confluence of:
* MA10 on M15
* MA50 on H1
* MA62 on H1
* Daily Pivot
but I did not wait for the TP to be achieved and closed at the Weekly pivot at +10.
Next
Anyway Good work. Keep it up. I Like your "Next" - That attitude has helped me a lot
Making money is easy- Just dont take losing trades