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  • #3,401
  • Jan 10, 2011 4:37pm Jan 10, 2011 4:37pm
Quoting Survivor
Note: Kostas, to begin with this is in no way disrespect to anyone, including you- you have been my savour-Just wanted to clarify things before I began....
Survivor,
I can completely understand your frustration, but trust me Clay is doing just fine. I am glad that he is still following the thread and so your message will go through. If you want to create a voting thread to reinstate Clay's membership that would be fine too, but let's keep this discussion in that thread.

Kostas
  • #3,402
  • Edited 2:21am Jan 11, 2011 12:37am | Edited 2:21am
Anyone watching it? In GU HTF MAs look like confusion zone to me. So will be careful with trades there today.

However, USDCAD looking nicely constrained in 1H. Not a first class stuff but could be worth my daily target. Sl should be above RN and previous hour high at around 52. So would jump in if Will jump in if i get a decent entry with reasonable small SL.

EDIT: I did get in with 0.5 usual lot at 30. Plan was to sell another 0.5 lot near 50 so as to keep Sl 12-13 pips only on total. Looking nice to me.
Making money is easy- Just dont take losing trades
  • #3,403
  • Jan 11, 2011 1:36am Jan 11, 2011 1:36am
Quoting kostas1
Survivor,
I can completely understand your frustration, but trust me Clay is doing just fine. I am glad that he is still following the thread and so your message will go through. If you want to create a voting thread to reinstate Clay's membership that would be fine too, but let's keep this discussion in that thread.

Kostas
Hey all,

I won't dive the topic further as requested, just wanted to say I also read the entire initial thread, and on my way on this thread, and I wanted to add my thanks to Clay, Kostas and all the great helpers. This adds to the masses already there but which doesn't diminish my gratitude to you guys

I hope to be soon in a position to help as I am being helped and in the mean time I wish you all great trades and fun in life.

Cheers,
k-trdr
  • #3,404
  • Jan 11, 2011 2:24am Jan 11, 2011 2:24am
Quoting kostas1
My Weekly Pivot was at 1.5532 and my Daily at 1.5509.
In my experience my server time (GMT+2) combined with the pivot indicator I posted before and appears at the attachments (AutoPivotIndicator_ver5) gives very good reaction points (I assume because many traders follow this server time). So when price crossed both M15 35/50 and Weekly Pivot I entered after the first red M1 bar.
Thanks Kostas,

so it is surely due to the difference of time.
My broker is GMT time. Do you know if there is any parameter to may change in the indicator to "adapt" it to the same levels as with GMT+2 ?
  • #3,405
  • Jan 11, 2011 2:51am Jan 11, 2011 2:51am
Quoting Survivor
EDIT: I did get in with 0.5 usual lot at 30. Plan was to sell another 0.5 lot near 50 so as to keep Sl 12-13 pips only on total. Looking nice to me.
You might be able to let this run a lot... top choice here:

http://www.technicalanalysis.me/2011...oney-11th.html

Good luck
  • #3,406
  • Jan 11, 2011 3:06am Jan 11, 2011 3:06am
Quoting challenger78
You might be able to let this run a lot... top choice here:

http://www.technicalanalysis.me/2011...oney-11th.html

Good luck

Thanks challenger. Its amazing how different methods tell same thing. Thats what i like about dance. Its so solid that no matter what analysis you do you would mostly agree with what dance says.

I am not into running trade for long. Got out near RN. Was good for my daily target as expected. If only i could have got full lot at 40. Now only half my target done. Anyway, will wait for next one- prices cant keep moving they have to be constrained somewhere
Making money is easy- Just dont take losing trades
  • #3,407
  • Jan 11, 2011 4:39am Jan 11, 2011 4:39am
Quoting Survivor
But I really want clay back on this thread. After reading the entire thing my blood is boiling. What right FF has to ban people without hard evidence? Cant we protest or something? Is there a way to vote to get Twee banned? Cant we create a protest page? I don’t know the answers but I am sure the questions are right,
I received the following in my personal email, probably in response to Survivor's post (The following is the email as I have received it and it does not necessarily represent my opinions):

"Hi Kostas,

This is both for you personally, and for whoever you want to share it with, just be sure to share it "whole" and unedited if you do.

First let me start with a clarification. I read Survivor's post and I do not want to come back to FF. I learned through experience that the people who run it and the cronies like Slack (whose online name probably matches his I.Q. and mental abilities) and the rest of the neanderthals who worked to get me banned not only have no integrity, but no judgment capabilities. Twee, at the best is an overloaded, overworked, over empowered and mostly inept site admin. At worst, well, let's not go there, it's not worth the effort.

I offered to Twee in P.M. to talk to him or anyone of his choosing personally on the phone. I offered the same publicly to prove who I am and still they accused me of being "Keith" whoever the hell he was or is. Funny part is that I actually talked to Keith in email a while during the thread that got him banned and asked his opinion on a strategy I was working on at that time that used the 89 ema with "levels" applied to it both above and below it at (I think I remember it was) 20 pips. I have attached a template of that if anyone is interested. Pretty self explanatory strategy if you have learned The Dance, and it was based on some things Magnumfreak said in his trading journal. Have fun with it, but stick to The Dance.

I think Keith whoever gave me some valueable input on that effort and I began looking for something a bit easier to trade. But by no means did he ever have anything to do with The Dance at all. That was something that came about from working with Endroute and seeing the interaction of the 35/50 on a chart he sent me where he hadn't cleaned things off of it yet. It just jumped out at me and slapped me in the face yelling "trade me you idiot!"

So I began working on The Dance and the manual was born out of personal necessity. I shared it with Endroute and two personal friends before I began posting it and Endroute warned me about it saying I would regret it. Funny thing is I don't, even with what happened. Quite the contrary, I am very, very pleased that The Dance is still being taught and helping so many find success. That is reward in it's self.

It is also what some call "Karma" and what the Bible calls "sewing and reaping" and what I say is, "you get what you give." Which brings me to another interesting point. One of the "charges" was that I said "God bless" too much. Too bad, I'm not changing who and what I am for that idiot either. I hope God blesses him or her, because they really need it for being so stupid. Ignorance is curable, but stupid is for life! God bless him or her for it and have mercy on them.

Now, as for starting a thread to get me back don't waste your time. Not interested in any way. Kostas is doing a wonderful job and I have less stress just monitoring and answering from time to time and no one can accuse me of anything but generosity. And for those buffoons and babbling fountains of stupidity who think I have some need to be thanked, get over yourself and get a life, a real one outside of just watching charts. Try to interact with live people from time to time instead of yanking it in front of a computer screen all the time.

I enjoy helping and have since I was a child. Guess I'm maladjusted is all.

So Survivor, I appreciate the sentiments, but you're doing great just stick to it. The best revenge is best served cold and when they eat it by finding out about your success on their own and begin to realize how little they really mean in life! Trade well, be a success, rub their noses in it and enjoy life my friend. Don't waste your time on them.

By the way, I finally figured out why I REALLY got banned. If you noticed, it happened after I made this post below, and this post is exactly why I haven't done anything about it yet. Not worth the effort and FF gets lots of newbies and they find their way to Kostas' thread to be helped and that's enough for me. Here's the link to the post.

http://www.forexfactory.com/showpost...&postcount=989

I think the REAL reason I was banned was because I suggested leaving FF. In any event, who cares? It's a place where Kostas can teach a lot of newbies some really good stuff and I can enjoy seeing something I created be a blessing to a lot of people. Perhaps even change their lives.

The strategy (not a system to the idiots who think that way) is strong, has tons and tons of information on two pretty large threads for people to study and use to "make it theirs." It stands on it's own and is totally free and except for the nut job in the foreign country who tried to sell it on Ebay, it's free, always has been, and always will be in it's current form, free for all to use and learn.

With that said, my "writing style" as they accused me of, should piss them off enough as it is in this reply. Perhaps Kostas will have to start putting people on the "iggy" list too. You just never know.
Oh, by the way,
God bless,
Clay"



So let's just leave it at that. I don't want this thread to stray from its main purpose, i.e. help people trade with this strategy.

God Bless (OOPS, did I say that too?),
Kostas.
  • #3,408
  • Edited 10:18am Jan 11, 2011 8:29am | Edited 10:18am
Quoting kostas1
I received the following in my personal email, probably in response to Survivor's post (The following is the email as I have received it and it does not necessarily represent my opinions):
[i]
"Hi Kostas,

This is both for you personally, and for whoever you...
Ok. i have personally apologized to kostas. This was wrong place to post it. With your mail that settles things. What really pissed me off was the effort that you were putting into it- replying to EVERY single question by newbies in detail, posting charts with clear explanations etc. I have never seen such agood system and such a good teacher (except, maybe Kenneth Lee in another thread - though i cant comment on his system). Maybe FF is not suited for teachers like you.

Anyway, as i said this mail settles it for me and makes me even more determined to nail the system and teach it to others.

One more thing i have done is i have copied all of useful posts from dance thread and formatted it into a pdf so that dancers always have access to your excellent advice and can read everything at peace with less clutter. I am amazed to find many gems by you that i discovered myself working hard at it! I will be sharing the pdf soon. Uploading is a problem at my workplace.

EDIT: Next post reminds me of it. Clay can you please answer why i am failing so badly in touch trades? Are they inherently difficult to master? I just dont see perfect two bar pullbacks while kostas and others happily pip! When i take imperfect ones i lose - that's frustrating. Not that i havent got money out of them ( i have nailed some of them perfectly) , but they fail too often. i have to wait like and owl for constrainment while everyone is making money
Making money is easy- Just dont take losing trades
  • #3,409
  • Edited 11:23am Jan 11, 2011 9:57am | Edited 11:23am
I have been struggling with touch trades primarily because I just don’t find “perfect” as per rules setups. Those which I do find tend to fail too often by my taste. Am certainly doing something wrong. Will keep working on it on simulator till I perfect it. Any help will be appreciated. But I have been doing pretty well with constrainments. However, my worry was constant waiting- waiting for a containment to appear then waiting for price to shoot in my direction- often price will remain constained for hours altogether before breakout.

Therefore recently I have started milking containments themselves instead of waiting for a breakout. Maybe it will help someone.

 

  1. Find a nice constrainment. Watch out for them in HTF- 1H and even 4H in slow movers like AUD, CAD, JOY CHF etc. During slow hours don’t give up when you don’t find touch trades. There might be a constrainment forming somewhere.
  2. Look for nice parallel Mas, all pointing in same direction. One going up one going down doesn’t work very well.
  3. Then watch HTF for any obstruction. Say if you find 1H constrained check out 4H and 1D to see if there is any serious obstruction. Remember that only very serious obstructions will hold against a constrainment. Most often constrainment is a warning that HTF obstructions are going to be broken.
  4. Optimize your entry. For shorts - See what highs the constrained candles are making- it might be constraining MA or a RN or just 5-6 pips above the MA. Then enter double your normal lot at this identified high. You can enter double lot because of extremely small SL needed in constrainments – so the risk is same as touch trades. Generally candles would be making lower highs for short- enter right near the top with previous high plus 2 pips as SL. For longs do reverse.
  5. Now when your trades comes in +15 to 20 pips depending on previous candles size book half of your position. Let half (your normal lot) run.
  6. Price will go to constraining MA multiple times- enter another lot there. Book one lot again in +15-20. Keep repeating.
  7. Let one lot run for a big profit when breakout happens.


Advantage of this strategy is even if the constrainment fails you have already milked it enough. If constrainment works then you are the king of pips! Here are live examples attached.

About charts: Both are today’s charts. USDCAD 1H and USDCHF 4H. I traded CAD and was bored enough of milking it so called it a day before formation takes its natural course- SL or TP on last lot. I passed CHF because it was on 4H requiring larger SL and therefore smaller position. Also there was trouble in daily. However some fine tuning with 15M and it wasn’t tough to trade. I passed it only because I saw better opportunity in cad. If there was no other constrainment I wouldn’t have hesitated to milk CHF.


Note: Todays chart was not "perfect" constrainment but it worked for me. I will post as i see perfect setups. Also in past i have posted charts of what's perfect constrainment according to me.

EDIT: 15-20 pips is for 15M. In 1H 4H reward are much higher- usually 30-40 pips in slow movers and in EU or GBP it could be even more.

Edit: "10 Traders Viewing This Thread (1 member) " Wow!!!!! comon folks we ARE humans like you. Become a member. learn it and trade well

Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad.jpg Size: 82 KB
Click to Enlarge Name: chf.jpg Size: 86 KB
Making money is easy- Just dont take losing trades
  • #3,410
  • Jan 11, 2011 10:23am Jan 11, 2011 10:23am
Quoting Survivor
I have been struggling with touch trades primarily because I just don’t find “perfect” as per rules setups. Those which I do find tend to fail too often by my taste. Am certainly doing something wrong. Will keep working on it on simulator till I perfect it. Any help will be appreciated. But I have been doing pretty well with constrainments. However, my worry was constant waiting- waiting for a containment to appear then waiting for price to shoot in my direction- often price will remain constained for hours altogether before breakout....
Very nice examples of constrainment. Thanks Survivor!
  • #3,411
  • Jan 11, 2011 12:26pm Jan 11, 2011 12:26pm
Quoting Survivor
I have been struggling with touch trades primarily because I just don’t find “perfect” as per rules setups. Those which I do find tend to fail too often by my taste. Am certainly doing something wrong. Will keep working on it on simulator till I perfect it. Any help will be appreciated. But I have been doing pretty well with constrainments. However, my worry was constant waiting- waiting for a containment to appear then waiting for price to shoot in my direction- often price will remain constained for hours altogether before breakout....
This is great stuff. Thanks for posting it. There's another way to approach the positioning here that might give much more profit:

1) Start with two lots like you say. SL is say 7 pips.

2) At +15 you sell one lot just as you do.

3) Then when it comes back to restraining you buy one lot. So now you are at +1 on the two positions even if you get stopped out.

4) Round two at +15, you sell one lot. Again no difference. But at

5) Instead of buying one lot and booking the 8 pips profit, you now buy two lots and only book +1 profit. That means at this point you are carrying three lots, at no risk. If you get stopped out, you will book at least 2 pips (actually more since you can move the stop loss on the original trade with each bounce as the constraining MA moves in your favor.)

6) Now as price moves in your favor, you have two lots to run with the constrainment instead of one. Each time price comes back to the constraining MA, you get an opportunity to add another lot to run with the trade if it breaks.

Lets say that on a short, you got three returns to the constraining MA, and then a break that you would cash for 50 pips. In your method, you would net 95 pips. By adding lots, you would instead net 215 pips. Of course, you might just break even, where in your method, a break even would still have netted you 16 pips or so.

For me, this is all academic, since I have at least as much trouble finding constrainments as you have with touch trades. But I thought I would throw the idea out there. And of course, it doesn't have to be an all or nothing proposition. You could always book some profit, and pyramid your position with the rest of your unrealized gain.
  • #3,412
  • Jan 11, 2011 12:37pm Jan 11, 2011 12:37pm
Quoting Survivor
I have been struggling with touch trades primarily because I just don’t find “perfect” as per rules setups. Those which I do find tend to fail too often by my taste. Am certainly doing something wrong. Will keep working on it on simulator till I perfect it. Any help will be appreciated. But I have been doing pretty well with constrainments. However, my worry was constant waiting- waiting for a containment to appear then waiting for price to shoot in my direction- often price will remain constained for hours altogether before breakout.
fantastic post and a couple of nice charts on constrainment setups, NICE WORK . My 2 cents about touch trades are as follows.

1. you need a solid trend in place on the chart your trading, don't really care what the tf is
2. you need to watch out for areas that might cause it to stall, so if price stalled out earlier in the day at an area around where you are taking a touch trade be careful.
3. Look at the price action on the chart, if there was a perfect pinbar/hangman at the top of a run up don't try to trade a touch of the 10 ema.
4. once a touch trade is plus pips, DO NOT LET IT GO into - Pips, tight stops to in the event your trade does not go in the intended direction, 5pips or so on the other side of the ma.
5. I personally prefer touch trades of of the 5/10 first and will usually wait for a closed bar or lower tf confirmation for the higher mas, I think this is what Kostas does
  • #3,413
  • Edited Jan 12, 2011 1:28am Jan 11, 2011 4:44pm | Edited Jan 12, 2011 1:28am
Quoting Survivor
EDIT: Next post reminds me of it. Clay can you please answer why i am failing so badly in touch trades? Are they inherently difficult to master? I just dont see perfect two bar pullbacks while kostas and others happily pip! When i take imperfect ones i lose - that's frustrating. Not that i havent got money out of them ( i have nailed some of them perfectly) , but they fail too often. i have to wait like and owl for constrainment while everyone is making money
i'm not Clay but i couldnt resist to ask you this.
do you cash in early or do you wait for 20 pip+ moves?
most moves reverse if you wait, which is good and bad at the same time.
if you enter and the move goes against you, in most cases you can at least BE after a while. same thing goes the other way though, if the price moves in your favor and you win say 10 pips and you expect it to become 15 or 20 in order to get out, then in most of the cases it will reverse, even maybe hit your original 12pip SL. am i wrong?
Kostas takes his pips early in touches and bounces and i agree with that too.
only constrainments are good for more and those are the ones that can be "safely" milked by trailing SL.

by the way, thanks for the reply on my previous post on MAs list, Kostas also helped me in with that, so a big thank you to both. keep it up

edit: after i post i see endroute's post "4. once a touch trade is plus pips, DO NOT LET IT GO into - Pips, tight stops to in the event your trade does not go in the intended direction, 5pips or so on the other side of the ma."
heh, my thoughts exactly, with that system you need like 20 pips/day and you can very easily get 7pips x 3trades to get there. if it goes your way .. trail it, but dont let it reverse on you. if not, BE or cut loss as much as you can
  • #3,414
  • Jan 11, 2011 9:08pm Jan 11, 2011 9:08pm
i find 1M chart very usefull to see if the price will bounce out of the 15M MA's, as it is 15 times lower than 15M, there are often hidden double tops, or others figuresthat suggests bounce. I trade it when the figures confirms the MA's. Sometimes i use diagonal resistances, but only when they are important like the one GU had broken in the last hours.

Also often it shows when the MA will be breached without any hesitation, so put your MTF MA's for 15M on 1M chart and try it!

Survivor i find it very difficult do see constrainments, and the possible entries from them, so possibly there is something for everyone ?
Better to lose opportunity, rather than capital !
  • #3,415
  • Edited 11:23pm Jan 11, 2011 11:09pm | Edited 11:23pm
Quoting endroute
fantastic post and a couple of nice charts on constrainment setups, NICE WORK ....
Thanks endroute. Duffy , asos and metrilbg great work. Lots of good stuff in one place here. Will need some time to digest everything.
But primarily I think not taking quick profits is hurting me in touch trades because i am addicted to seeing large pips in constrainments. Yesterday also for example GU sell at first touch of 10EMA gave about 10 pips then broke through it. Next time i will try taking 10 pips from them - no more no matter what i think of movement. Lets see how it works.
Making money is easy- Just dont take losing trades
  • #3,416
  • Jan 12, 2011 12:21am Jan 12, 2011 12:21am
Quoting Survivor
Thanks endroute. Duffy , asos and metrilbg great work. Lots of good stuff in one place here. Will need some time to digest everything.
But primarily I think not taking quick profits is hurting me in touch trades because i am addicted to seeing large pips in constrainments. Yesterday also for example GU sell at first touch of 10EMA gave about 10 pips then broke through it. Next time i will try taking 10 pips from them - no more no matter what i think of movement. Lets see how it works.
Hi Survivor,

my memory of the manual is that for touch trades, you should take 2 positions, close 1 at +10pips, move SL to BE+1 for the other and use the previous bar low minus spread to trail.
That way, you can bank your 10 pips for all the touches that won't go further and still have 1 position for the others; all in all quite similar to what you do with constrainments.

Cheers,
k-trdr
  • #3,417
  • Jan 12, 2011 12:33am Jan 12, 2011 12:33am
Quoting Survivor

  1. Find a nice constrainment. Watch out for them in HTF- 1H and even 4H in slow movers like AUD, CAD, JOY CHF etc. During slow hours don’t give up when you don’t find touch trades. There might be a constrainment forming somewhere.

One more thing. I didnt post it earlier because i am still experimenting with it. I have found that spotting constrainments in CAD can help lots of EU and GU traders here. Often i have found that these constrainments will show direction to dollar long before actual move starts Yesterday, for example, with dollar constrained down against CAD i was expecting upsides in EU and GU. That worked out pretty well. Again, as i have warned am still experimenting with it but you can certainly have some fun.
Making money is easy- Just dont take losing trades
  • #3,418
  • Jan 12, 2011 12:40am Jan 12, 2011 12:40am
Guys, do you all only trade during overlap hours?And should the SLs for 15 min TFs be 15 pips or less? Sorry for the noob questions, but I see that some of you use a little deviation from the manual, and still achieved success with this system.
  • #3,419
  • Jan 12, 2011 12:47am Jan 12, 2011 12:47am
Quoting natnimrey
Guys, do you all only trade during overlap hours?And should the SLs for 15 min TFs be 15 pips or less? Sorry for the noob questions, but I see that some of you use a little deviation from the manual, and still achieved success with this system.
I dont know anyone sticking to only overlap hours. But many traders trade from london open to ny close. IMHO markets are reasonably liquid during these hours.

Be warned thats its against the manual but as far as i am concered here is my take on it- http://www.forexfactory.com/showpost...postcount=3375

EDIT: Kostas has a good point here. Stick to rules before you gain confidence . After that you can tweak things. For example i still stick to rule book in touch trades but take lots of liberties with constrainmnts.
Making money is easy- Just dont take losing trades
  • #3,420
  • Jan 12, 2011 12:48am Jan 12, 2011 12:48am
Quoting natnimrey
Guys, do you all only trade during overlap hours?And should the SLs for 15 min TFs be 15 pips or less? Sorry for the noob questions, but I see that some of you use a little deviation from the manual, and still achieved success with this system.
It is a good idea for newbies and to help reduce the number of trades to only the strong ones. But I personally trade from London open to first 2 hrs of NY open (GMT 8-15).
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