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Intraday price action trend trading

  • #5,881
  • Nov 9, 2010 10:01pm Nov 9, 2010 10:01pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I have this trade to pacify me
Attached Image (click to enlarge)
Click to Enlarge Name: 2 NOV 5.png Size: 38 KB
Shake it off!Lick the Wound,Prey Again!
  • #5,882
  • Nov 9, 2010 10:09pm Nov 9, 2010 10:09pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
This is psychology attack. After many losing trades and eating my SL or breakeven me, before going to the original direction, each entry must rethink hard because all the trades involve real money.
Only real money can push me to learn faster and accurately.
Sho said we must trade like a robot. This is the hardest part: emotional control and as well as fingers control
Shake it off!Lick the Wound,Prey Again!
  • #5,883
  • Nov 9, 2010 10:40pm Nov 9, 2010 10:40pm
Quoting Megara
I have this trade to pacify me
I like this one, this was an aggressive entry (straight away from the wedge breakout). For conservative, short after the next green retrace......

BTW, what pair it is?

Nice trade
Eric
  • #5,884
  • Nov 9, 2010 10:52pm Nov 9, 2010 10:52pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Buildcity
I like this one, this was an aggressive entry (straight away from the wedge breakout). For conservative, short after the next green retrace......

BTW, what pair it is?

Nice trade
Eric
EURJPY.
How are you doing? I've posted a number of lost trades and that's for Nov 5.
Nov 8 will be coming soon.
Sho might fire me for hijacking his thread with losing trades
Shake it off!Lick the Wound,Prey Again!
  • #5,885
  • Nov 9, 2010 11:48pm Nov 9, 2010 11:48pm
Hi Megara!

You do your thing, but what will increase your percentage win is taking trades with the momentum. Your doing alot of very aggresive entrys against the winning force, if you wait for an impulsive move, then get the pullback and then enter with a candle pattern or a fib level with support or resistance. Thats the safe way to play it. You got to have a more situational reason to enter if that makes sence, you dont enter just because you saw divergence or you saw an ib. Take into account whats happening around you.

I also see your not using divergence correctly, you got two types of divergence, hidden and regular, one is actually a continuation signal where the other is signaling a reversal. Though we really dont use it for entries. Go to ww.babypips.com, go to the school and read up on it there, thats a great site.
  • #5,886
  • Edited 12:47am Nov 10, 2010 12:36am | Edited 12:47am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Storeball
Hi Megara!

You do your thing, but what will increase your percentage win is taking trades with the momentum. Your doing alot of very aggresive entrys against the winning force, if you wait for an impulsive move, then get the pullback and then enter with a candle pattern or a fib level with support or resistance. Thats the safe way to play it. You got to have a more situational reason to enter if that makes sence, you dont enter just because you saw divergence or you saw an ib. Take into account whats happening around you.

I also see your not...
If I don't post my losing trade, I won't be able to see my mistakessss. I thank you for pointing out and this is great.
I noted your comments and they are valuables.

This is my 1st time using divergence and all this while I trade using raw chart with horizontal support and resistance; demand and supply level; pivot point and important candlesticks formation, plus bits of fundamental, that's it.
I learnt these from great traders: FEB2865,JACKO,WMD,BILLYRAYVALENTINE,ACUMEN
Because my trading result aren't consistant therefore I'm hunger for little more knowledge from successful traders here.
What's caught my attention is the impulsive wave,momentum,tight stop loss, divergence for exit which all this while I don't know.
Ppl use ossicillator for entry and exit but Sho pointed it is for exit only, hence this is refreshing.

Thanks Storeball for being straight forward and hope to hear more of your comments
Shake it off!Lick the Wound,Prey Again!
  • #5,887
  • Nov 10, 2010 12:37am Nov 10, 2010 12:37am
Quoting Megara
I have this trade to pacify me
  • #5,888
  • Nov 10, 2010 1:29am Nov 10, 2010 1:29am
Quoting Aztrader2
Hi Gravi,
nice trades for you today...!
I'm new to this thread and just discovered the main thread of Sho. I've a question about your Long trade in E/U. I know it was a retrace from previous big move up, but the pin bar was toward the downside. So please, could explain me the reasons why you took this trade?

thanks!

Az
hi!
ok... that was with momentum..
as you mentioned the price retraced..
and that candle(shooting star or pin bar)
could not close below that bearish IB...
that was the reason.. and also it was small SL as well..
  • #5,889
  • Nov 10, 2010 2:01am Nov 10, 2010 2:01am
Quoting Megara
Trades were taken on Nov 5 on 4 hr TF.
The losing trades...
Hi Megara!! take a look at the screenshots i have attached..
Attached Images
  • #5,890
  • Nov 10, 2010 2:06am Nov 10, 2010 2:06am
...
Attached Image
  • #5,891
  • Nov 10, 2010 2:38am Nov 10, 2010 2:38am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Goodday Gravi,

Thanks you for comments. After rectifying,
EMOTIONAL & CHASING MARKET are my deadliest mistakes.
I've begun to see clearly. Appreciate your present here.
Attached Images
Shake it off!Lick the Wound,Prey Again!
  • #5,892
  • Nov 10, 2010 3:24am Nov 10, 2010 3:24am
...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud1.gif Size: 27 KB
Click to Enlarge Name: aud2.gif Size: 26 KB
  • #5,893
  • Nov 10, 2010 3:39am Nov 10, 2010 3:39am
Quoting Megara
Goodday Gravi,

Thanks you for comments. After rectifying,
EMOTIONAL & CHASING MARKET are my deadliest mistakes.
I've begun to see clearly. Appreciate your present here.
Screen No 3... SL should be just above the pin.. may be u didnt mention the spread size?

regarding the emotions and chaising.. yeah thats the common mistakes..
  • #5,894
  • Nov 10, 2010 5:46am Nov 10, 2010 5:46am
today's EU short play..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur3.gif Size: 27 KB
Click to Enlarge Name: eur4.gif Size: 26 KB
  • #5,895
  • Nov 10, 2010 9:41am Nov 10, 2010 9:41am
Hi Gravi,

You sold right above support. Notice that big green bar on left that area was solid support and once price was unable to break that support and came back up, very unlikely it will go down again.

I just wanted to share my view.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd15.gif Size: 15 KB
The purpose of knowledge is action, not knowledge
  • #5,896
  • Nov 10, 2010 12:19pm Nov 10, 2010 12:19pm
Quoting alifari
Hi Gravi,

You sold right above support. Notice that big green bar on left that area was solid support and once price was unable to break that support and came back up, very unlikely it will go down again.

I just wanted to share my view.

Thanks
Hello alifari...

i'm very pleased you commented my trade..
may be you're right i should consider that support zone and noticed that after that downside momentum price rejected from support...but i payed more attention how the price reacted to KC bands..

Thanks for your view..
  • #5,897
  • Nov 10, 2010 1:42pm Nov 10, 2010 1:42pm
Quoting Megara
USDCAD
LOSER TRADE
Hi Megara,
That you have markerked should be an Hidden Bearish divergence....isn't it?
So, why go long?
Or am I wrong..?

Az
  • #5,898
  • Nov 10, 2010 10:47pm Nov 10, 2010 10:47pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Aztrader2
Hi Megara,
That you have markerked should be an Hidden Bearish divergence....isn't it?
So, why go long?
Or am I wrong..?

Az
I am wrong. You are right. My mistake
Shake it off!Lick the Wound,Prey Again!
  • #5,899
  • Nov 10, 2010 10:53pm Nov 10, 2010 10:53pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I have entered some trade yesterday.
Momentum(impulsive), pullback( corrective) and entry are my focus.
Divergence will put on hold first.
Are these entry alright now?
The final chart not sure considered a setup though saw a pinbar?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 NOV 10.png Size: 53 KB
Click to Enlarge Name: 2 NOV 10.png Size: 47 KB
Click to Enlarge Name: 3 NOV 10.png Size: 36 KB
Click to Enlarge Name: 5 NOV 10.png Size: 38 KB
Click to Enlarge Name: 6 NOV 10.png Size: 43 KB
Shake it off!Lick the Wound,Prey Again!
  • #5,900
  • Nov 11, 2010 5:48am Nov 11, 2010 5:48am
here's the today's eu short trade... -9 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 23 KB
Click to Enlarge Name: eur2.gif Size: 21 KB
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