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Trading Major Lines

  • #41
  • Feb 20, 2011 12:45pm Feb 20, 2011 12:45pm
Quoting noer1962
hai nomask,
thanks for sharing your experience,
after i ask the question and look for your answer over and over and over again, i find your method is looking for some thing big and zoom it and looking for similar pattern and zoom it again to make an action.

weekly breakout >> zoom H4 for confirm >> zoom 5M again for action. am i missing something here?

its like think globally act locally idea.

i will try your trading strategy from now, hope you dont mind if i have some question about problem that i've with it. i'm greatly thanks for...
hi again noer...any questions are welcome..
i like the "think globally act locally idea"
and yes you want to get weekly and 4hr price actions aligned in the same direction and then proceed in 5min to risk small amount of pips for something huge compared to risked pips..
  • #42
  • Feb 20, 2011 1:11pm Feb 20, 2011 1:11pm
Quoting knucklehead
Cool thread. Here is a 4h I am in on.
thanks knucklehead.

I set my targets on my weekly chart and honestly my initial target for eurusd is 1.5000 unless it plays otherwise around 1.4000 level
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  • #43
  • Feb 20, 2011 1:37pm Feb 20, 2011 1:37pm
Quoting nomask
Hello everyone.
I have been meaning to open up a new thread for a while.Although Its not the best time for me as I’m still busy with my day job, forex and helping my wife with her newly established company, I’ve decided to at least lauch this thread as a respond to the p.m’s I’ve been getting lately from some members of forexfactory and improve it slowly by the time.
-------------------------------------------------------------
.

Hello Nomask,

It is nice to see you with your own thread. Please keep them coming..I will be very eager to learn from you. I have been reading your posts in other threads (As mentioned by you) and really like your explanations and the way you plan your trade.

Good luck again..
-happyTrading, maaj-
  • #44
  • Feb 20, 2011 1:45pm Feb 20, 2011 1:45pm
Quoting maaj
Hello Nomask,

It is nice to see you with your own thread. Please keep them coming..I will be very eager to learn from you. I have been reading your posts in other threads (As mentioned by you) and really like your explanations and the way you plan your trade.

Good luck again..
thanks maaj..always nice to see you around..
  • #45
  • Feb 20, 2011 6:32pm Feb 20, 2011 6:32pm
good method... tank you
  • #46
  • Feb 20, 2011 10:24pm Feb 20, 2011 10:24pm
Hi nomask,

Just to be clear, in your post 33, you put your fibs on this H4 candle because of the pin?

[IMG]http://s4.postimage.org/13uceugv8/nom.jpg[/IMG]

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I've never really watched weekly to get a bias for the day/week but now I see that weekly + PA + major lines = bias and target

I such a big fan of pipeasy's work, this consolidated thread by you of his ideas are really the biz! IF I can control myself, I think it will be soon when I get those 1000 pips moves Thank you very much!
  • #47
  • Feb 21, 2011 1:40am Feb 21, 2011 1:40am
Quoting zeCarvalho
good method... tank you
Quoting pippin4me
Hi nomask,

Just to be clear, in your post 33, you put your fibs on this H4 candle because of the pin?

[IMG]http://s4.postimage.org/13uceugv8/nom.jpg[/IMG]

-----------------------------------------------------------------------

I've never really watched weekly to get a bias for the day/week but now I see that weekly + PA + major lines = bias and target

I such a big fan of pipeasy's work, this consolidated thread by you of his ideas are really the biz! IF I can control...
Thank you all for your nice words...

answering the question:
Yes I put the fib on the candle you mentioned but also to the very next candle in order to cover different timezones in terms of candle setup..
The reason for this is to show you that sometimes price will make its action while you're asleep but then it makes another price action in the same direction (next bar was a bullish engulfing bar that engulfed the pinbar) you can still get in the trade because of the new setup that happened in your trading time.
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  • #48
  • Feb 21, 2011 2:14am Feb 21, 2011 2:14am
Update on eurusd..
This is what I thought when the last was ending..
http://www.forexfactory.com/showpost...9&postcount=15
nothing happened to change above ideas...
This is how i was going to keep my chart for this week
http://www.forexfactory.com/showpost...1&postcount=16
and the attached is how I see now..
--------------
I keep my money in my pocket and spend very small amount risking very tiny pips and targeting something huge..
It won't happen often I know but It's still worth that..

About risked capital each entry I make equals (my past data shows that) to % 0.2 (not %2) of my capital...
to make things easier to understand thats being 1 standard lot for a 50k account...Some may find it too conservative but I personally don't think so..
When I made my first 1000+ pips that put almost %20 of my initial capital on top...
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  • #49
  • Feb 21, 2011 4:00am Feb 21, 2011 4:00am
Hai every one,
This is Eur Aud Chart. I write my personal view on it, please share your opinion about this.

thank you

regards,
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SonY, Gold Is Every Where Gold, but Human Not Gold..
  • #50
  • Feb 21, 2011 4:19am Feb 21, 2011 4:19am
Quoting noer1962
Hai every one,
This is Eur Aud Chart. I write my personal view on it, please share your opinion about this.

thank you

regards,
Hello noer I'll check that pair and come back later but here is update of eu that I was just posting...
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  • #51
  • Feb 21, 2011 6:53am Feb 21, 2011 6:53am
hello nomask
i have one question about TP.....do you put it or just leave tread without TP, like greame do?
tnx
  • #52
  • Feb 21, 2011 7:23am Feb 21, 2011 7:23am
Hi nomask

Thanks for your sharing.

I am not sure if I get what you mean, in the weekly chart attached, do we start to look for entry after the candle closes?

Cheers,
Simon
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  • #53
  • Feb 21, 2011 7:28am Feb 21, 2011 7:28am
Quoting noer1962
Hai every one,
This is Eur Aud Chart. I write my personal view on it, please share your opinion about this.

thank you

regards,
Since I use very visual tight stops, I need to take spread rates into consideration as I'm willing to pay 5-15 pips per trade.So I don't like trading exotic pairs with larger than 2pip-spread.
But any pair still good to do some training about the method..
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  • #54
  • Feb 21, 2011 7:53am Feb 21, 2011 7:53am
Quoting tentoerun
Hi nomask

Thanks for your sharing.

I am not sure if I get what you mean, in the weekly chart attached, do we start to look for entry after the candle closes?

Cheers,
Simon
Everything we do is at the close of a candle....
A candle (weekly or 4hr) can not be considered as a signal candle unless its fully formed/completed..
again we make our entries at the close of the 5min candle..no need for pending orders

Attached chart should explain it better.
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  • #55
  • Feb 21, 2011 8:40am Feb 21, 2011 8:40am
Quoting nomask
Since I use very visual tight stops, I need to take spread rates into consideration as I'm willing to pay 5-15 pips per trade.So I don't like trading exotic pairs with larger than 2pip-spread.
But any pair still good to do some training about the method..
thanks nomask for detail analysis
for now i will look sample chart from your post, i'm still confusing drawing fibo, and when look at the entry @ 5M price crosing again and again from major line make me not knowing when to act. for now i will look closely with your trading strategy.

thanks for fast reply

regards,
SonY, Gold Is Every Where Gold, but Human Not Gold..
  • #56
  • Feb 21, 2011 8:56am Feb 21, 2011 8:56am
Quoting noer1962
thanks nomask for detail analysis
for now i will look sample chart from your post, i'm still confusing drawing fibo, and when look at the entry @ 5M price crosing again and again from major line make me not knowing when to act. for now i will look closely with your trading strategy.

thanks for fast reply

regards,
apply the fib on the setup candles only..
if you got the price action on weekly and you want to go in 4hr then put the fib on weekly setup candle then drop down to 4hr..when you get your signal on 4hr do the same but this time put it on 4hr candle and then drop down to 5 min..and enter on 5min upon a price action..
you just keep narrowing the timeframes by dropping down...
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  • #57
  • Feb 21, 2011 11:56am Feb 21, 2011 11:56am
excellent thread, precise and clear, hope to follow it more. As for the EU weekly chart i see your last trade idea (as shown on WKLY chart) and understand it bounced off a trendline and the rest 4H-5M entry. but as of now i see the EU is hitting a weekly upper trendline and has tried to break it 3-4 times and unable to, most bounces show that a trend reversal is on the way and the up trend should go back down (if not breaks this UTL), this is also on the 4H chart where it has bounced off the UTL very recently. I would therefore favour a down trend according to both weekly and 4H trends, can you explain how using ur method, esp using Fibs which am not too hot on and then the 5M timeframe i would look for either a BUY or SELL entry ie: criteria?? in my view if it breaks 1.3750 concisely is a BUY, if breaks 1.3625 is a SELL? many thanks in advance
Attached Image(s) (click to enlarge)
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  • #58
  • Feb 21, 2011 2:51pm Feb 21, 2011 2:51pm
Quoting gh0stjpy
excellent thread, precise and clear, hope to follow it more. As for the EU weekly chart i see your last trade idea (as shown on WKLY chart) and understand it bounced off a trendline and the rest 4H-5M entry. but as of now i see the EU is hitting a weekly upper trendline and has tried to break it 3-4 times and unable to, most bounces show that a trend reversal is on the way and the up trend should go back down (if not breaks this UTL), this is also on the 4H chart where it has bounced off the UTL very recently. I would therefore favour a down trend...
hi ghost..thank you for your input..
First of all I make hindsight only to be able to make some low risk entries..
I am not worried whether I'm right or wrong with my hindsight..
like now I have a long position on eurusd that I took last week (its up to over 100 pips and its at b.e now.So I have two possible scenario.
1. it dies at breakeven
2.it goes to 1.4000 or even 1.5000 level making me couple thousand pips
---------
I enter my position at my best and move it to break even after moving in my favor (preferably >30 pips).
This is all I'm trying to achieve and rest is just a tool to achieve this goal.
One can use trend lines while others use fibs or round numbers.
I try to use less relative tools such as round numbers,single candle actions,even fib levels are relative but only reason I use them is they are very popular and used by so many traders around the world..
But I still keep it as simple as it is by putting it on the latest swing keeping limited with only 38.2,50 and 61.8 fibs being most popular fib numbers..
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  • #59
  • Feb 21, 2011 3:02pm Feb 21, 2011 3:02pm
example of Fibonacci to spot a price action.
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  • #60
  • Feb 21, 2011 3:09pm Feb 21, 2011 3:09pm
Wrap up of the day..
See you guys later..
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