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Trading with Deadly Accuracy

  • #901
  • Dec 30, 2010 5:35pm Dec 30, 2010 5:35pm
Quoting wmd
Twas said that whilst Christopher Columbus was sitting in a drinking den, he was challenged and informed that like Columbus, 'any adventurer with the wit and resources such as men of Spain had could have discovered the New World as Columbus had done'.

In response, Columbus had an egg brought out, and bet his guests that they could not make the egg stand on its tip without assistance....
In short, I guess there's "more than one way to skin a cat".*

*from Legend of the Dead Cat

Happy Holidays !
  • #902
  • Dec 30, 2010 5:39pm Dec 30, 2010 5:39pm
The pattern is (B - C - B - Pull back)

 

  1. Wait for the pullback to reach area of last consolidation.
  2. Trade in the direction of the last boost

  • #903
  • Dec 30, 2010 5:56pm Dec 30, 2010 5:56pm
In the third instance price moves like this:
Attached Image
  • #904
  • Dec 30, 2010 6:09pm Dec 30, 2010 6:09pm
The pattern is (Boost - Con - Boost - Con - 3 options)


Red: Buy the rebound when price reaches first area of consolidation.

Green: Buy a break out from the last consolidation.

Purple: Leave it alone unless your already in a trade.
  • #905
  • Dec 30, 2010 6:18pm Dec 30, 2010 6:18pm
Break out's should demonstrate momentum. Use pips per hour as a gauge.

Consolidation is a low price range over a length of time.

In any case, only trade if it looks right.


(I've found the attached indi useful and added an alert. Its plagiarised so credit to the orignal coders.)
Attached File(s)
File Type: ex4 # wmd _ hourly atr with 20% alert.ex4   8 KB | 884 downloads
  • #906
  • Dec 30, 2010 6:19pm Dec 30, 2010 6:19pm
Take a picture, take a break. It's been a GREAT year. Believe it or not, there's more to life than MONEY. Happy Holidays.
Inserted Video
  • #907
  • Dec 30, 2010 6:20pm Dec 30, 2010 6:20pm
Time for coffee and and a healthy dose of nicotine. I'll be back in a while to post some chart samples. In the mean time all yours....
  • #908
  • Dec 30, 2010 6:53pm Dec 30, 2010 6:53pm
Good to hear from you and thanks for the posts, I like the explanations.


Quoting wmd
Time for coffee and and a healthy dose of nicotine. I'll be back in a while to post some chart samples. In the mean time all yours....
  • #909
  • Dec 30, 2010 7:10pm Dec 30, 2010 7:10pm
Quoting wmd
Time for coffee and and a healthy dose of nicotine. I'll be back in a while to post some chart samples. In the mean time all yours....
Sorry...... I didn't mean to drive you to smoking or massive caffeine intake. I'll bow out now and not bother you again.

remember though, there really IS more to life than money find some time to enjoy what you've accomplished

adios, TR
best to all in the New Year
  • #910
  • Dec 30, 2010 7:17pm Dec 30, 2010 7:17pm
Euro.cad system 2

before/after
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  • #911
  • Dec 30, 2010 7:26pm Dec 30, 2010 7:26pm
System 3 red arrows
Attached Image (click to enlarge)
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  • #912
  • Dec 30, 2010 8:13pm Dec 30, 2010 8:13pm
Keep q's to the thread for now.

False breaks: With Sam your not trading the first break out, but rather waiting for the move to complete. Consider the move to have completed when you see a break out followed by a period of consolidation. Thats when Sam set ups trigger. So we have no issues with fb.

Stops: You know your wrong when price breaches/breaks cosolidation area, so stops to suite.

Best set up: System 2 is most reliable.

Dam versus Sam: Sam is more suited to intra-day trades.
  • #913
  • Dec 31, 2010 9:11am Dec 31, 2010 9:11am
System 1 played out perfectly.

The chart is geppy m5.
Attached Image
  • #914
  • Dec 31, 2010 11:35am Dec 31, 2010 11:35am
type 2 on aud. got to wait how it plays out. now probably not the best time for it.
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bull in a china shop
  • #915
  • Jan 1, 2011 2:16pm Jan 1, 2011 2:16pm
spent time lookiing at this today.

looks good on the whole, but get some fails aswell.
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bull in a china shop
  • #916
  • Jan 1, 2011 2:34pm Jan 1, 2011 2:34pm
Quoting wmd
Keep q's to the thread for now.

False breaks: With Sam your not trading the first break out, but rather waiting for the move to complete. Consider the move to have completed when you see a break out followed by a period of consolidation. Thats when Sam set ups trigger. So we have no issues with fb.

Stops: You know your wrong when price breaches/breaks cosolidation area, so stops to suite.

Best set up: System 2 is most reliable.

Dam versus Sam: Sam is more suited to intra-day trades.
Appreciate the explanation. I read the first many pages, but is this one new rule? Still draw lines at untested points?
A successful trading depends on knowing what to analyze.
  • #917
  • Jan 2, 2011 3:40pm Jan 2, 2011 3:40pm
Quoting Pipdealer
Appreciate the explanation. I read the first many pages, but is this one new rule? Still draw lines at untested points?

Sam is there to add perspective. Follow any chart marking b/c areas and you'll quickly see what i mean. There are more pips in looking for continuation then there are in looking for a reversal. I've found it more suited to intra day trades on m5, m15 and some times the hourly's. Keep profit targets within reason and the pips soon add up. Careful not to ignore eveything else you know about tl's, bop, reversal patterns etc.
  • #918
  • Jan 2, 2011 3:58pm Jan 2, 2011 3:58pm
Quoting plasmapants
type 2 on aud. got to wait how it plays out. now probably not the best time for it.
Hi Plasma!

Looks like your broker closed early on Friday.

You had 2 bounces from the top of your box, 1st for 20 pips, 2nd for 15 pips. Bottom of your box just gave up 50 pips on a spike.

Nice call buddy. Keep em comin'
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  • #919
  • Jan 3, 2011 3:46am Jan 3, 2011 3:46am
thanks for the additional info wmd....
  • #920
  • Jan 3, 2011 7:05am Jan 3, 2011 7:05am
cad kicking it. starting to get the hang of this.
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bull in a china shop
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