Attachments: Intraday price action trend trading

Intraday price action trend trading

#6,721
Jun 2, 2011 5:39am Jun 2, 2011 5:39am

MJurban
Joined Apr 2006 | Status: Trader | 953 Posts

Quoting trade price

Disliked

keep it simple for your eyes to spot the oportunity

Ignored

Thank you for those nice looking pictures
Today is Holiday in Germany, not much trading

#6,722
Jun 2, 2011 5:44am Jun 2, 2011 5:44am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Hoilidays in France too. I will not trade before monday, need few quiet days

.

Good trades

I hear and I forget. I see and I remember. I do and I understand.

#6,723
Jun 2, 2011 7:12am Jun 2, 2011 7:12am

MJurban
Joined Apr 2006 | Status: Trader | 953 Posts

Quoting boubafx

Disliked

..........., and avoid to be afraid
when i must pressed the trigger to take the trade.

It's my big default, even on demo i'm afraid to see the trade going in the wrong direction, and i don't arrived to master this emotion.

Ignored

i had absolutly the same problem and i still have it when i open trades with big money.

to train myself and practise with real money, i opened a very small account , 300,00 € with oanda.
U can trade very small positions, ( as small as 1 Unit) and on the other side you have the feelings that trading with real money gives to you.

time after time you can rise your positions , 1000 units = micro lot, 10.000 units = mini lot and then 1/3 to 1/2 lot and so on.

for me this worket better then trading demo cause with real money even if it is very small, you need more disziplin

#6,724
Jun 2, 2011 8:18am Jun 2, 2011 8:18am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting MJurban

Disliked

i had absolutly the same problem and i still have it when i open trades with big money.

to train myself and practise with real money, i opened a very small account , 300,00 € with oanda.
U can trade very small positions, ( as small as 1 Unit) and on the other side you have the feelings that trading with real money gives to you.

time after time you can rise your positions , 1000 units = micro lot, 10.000 units = mini lot and then 1/3 to 1/2 lot and so on.

for me this worket better then trading demo cause with real money even if it is very...

Ignored

hi MJ,

In my opinion anybody can go his own way - I mean demo or small live account, but it is not the best Idea to rise the position just nominaly.
If one decide to go not demo but small live way he should learn by the way the right money management.
It is possible even with very small account to size Your postion exactly to the chosen percentage of risk that one decides to take. There are some mt4 tools and also www sites like this one to do so.

The right money management is as much important as the good entrance and exit.
Using the right mm even with small win/lost ratio Your account can advance in plus

For me - I have learned it at J16 - the minimum requirement to go live is to be able to keep rising acc. for three months in a row at least.

Peter

Jesus Christ is my only Lord !

#6,725
Jun 2, 2011 11:12am Jun 2, 2011 11:12am

Gravi
| Joined Aug 2010 | Status: Pipaholic | 453 Posts

Quoting boubafx

Disliked

Sorry, but i don't see another setup to go short mmediatly after

And the momentum (big green bar) risk to have change, no? or I make a analisys mistake?

Ignored

my two cents...

As for me i wouldn't take that one.. the KC'slope was still downward and that trade would be CT play(countertrend).. that would be risky.. but that bullish bar was so solid (possible momentum change)and maybe someone wanted to trade it

look at the picture i attached..

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#6,726
Jun 2, 2011 11:31am Jun 2, 2011 11:31am

Zoomie
| Joined Feb 2011 | Status: Trader | 87 Posts

Quoting Gravi

Disliked

u're doing well! keep it on... find your personal way of playing just to feel it comfortable for you... pls post your trades here, we'll be watching

Ignored

Will do!! I get internet back tomorrow from my move, then back to trading.

#6,727
Edited 5:28pm Jun 2, 2011 5:05pm | Edited 5:28pm

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting Gravi

Disliked

my two cents...

As for me i wouldn't take that one.. the KC'slope was still downward and that trade would be CT play(countertrend).. that would be risky.. but that bullish bar was so solid (possible momentum change)and maybe someone wanted to trade it look at the picture i attached..

Ignored

Gravi, i like your analisys, because i have exactely the same. Buy was dangerous despite the big green bar, and no PA told us to short.

Two questions :

1) I know sho told us that IB become support/resistant after the breakout, but how long this IB support/resistant remains valid? How many bars? Just the bar or two bars after the break or more?

2) For momentum, would you look at the entire range(high-low)(so with the wick) of each bars, or only the body (close-open) (so without the wick) of each bars ? I think sho looks at the entire range, but i'm not sure.

Thanks for your help

I hear and I forget. I see and I remember. I do and I understand.

#6,728
Jun 2, 2011 5:54pm Jun 2, 2011 5:54pm

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Sho, i just see that you had vouched me, and i am very very very proud

. I hope that I deserve.

Since severals month, I have read, reread and rereread you pdf to assimilate the method and see the subtilities. You tell often that "trading is simple,but not easy", i answer you: for me "trading is simply difficult"

I see your entire two threads, slowly, analysis each charts, and all this took me a lot of time. These threads are gold.

I'm not an impatient person, but I am stubborn, and I want to be profitable with the knowledges i have learned from you, whatever time it takes

I want to learn again and again from you and the others on this thread, and i hope to be able to help the others from time to time (although I am only a poor little beginner

)

I hear and I forget. I see and I remember. I do and I understand.

#6,729
Jun 3, 2011 5:13am Jun 3, 2011 5:13am

Gravi
| Joined Aug 2010 | Status: Pipaholic | 453 Posts

Quoting boubafx

Disliked

Gravi, i like your analisys, because i have exactely the same. Buy was dangerous despite the big green bar, and no PA told us to short.

Two questions :

1) I know sho told us that IB become support/resistant after the breakout, but how long this IB support/resistant remains valid? How many bars? Just the bar or two bars after the break or more?

2) For momentum, would you look at the entire range(high-low)(so with the wick) of each bars, or only the body (close-open) (so without the wick) of each bars ? I think sho looks at the entire range,...

Ignored

1) u know that IB is the swing(hi or low) on smaller tf? actually it is, so if PA brokes the IB(swing) it becomes the minor support/resistance level... how many bars??? how many bars any given support/resistance level is valid?? who knows

2) i think sho considers all the range..

#6,730
Jun 3, 2011 10:27am Jun 3, 2011 10:27am

kodflakes
| Joined Feb 2007 | Status: Trader | 749 Posts

Hey all i have been a lurker on here for sometime tons of great info but I wanted to share something that I have been looking at for sometime. Now i took a loser here but it was a little after NFP and I was not looking for this setup at the time of that trade the setup showed afterwards I felt I needed to see what was gonna happen due to the news.

1. look for a hammer on the bottom of the keltner (this works really well when the hammer's wick is the only part of the candle hittiing the keltner) and an inverted hammer on the top for a bear run. the length of the wick is in my estimates about an 80%+ winner.

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#6,731
Jun 5, 2011 5:42pm Jun 5, 2011 5:42pm

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

I have a question about trade management. I used to trail my stop to BE as soon as profit = stop.

I have read sometimes sho told us to do like that, and sometimes he told us to move the stop to BE as soon as the next bar goes into profit.

How do you practice?

In your opinion and your experiment what is the best trade management way?

Thanks for your replies

I hear and I forget. I see and I remember. I do and I understand.

#6,732
Jun 5, 2011 6:15pm Jun 5, 2011 6:15pm

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

What % of working capital on any one trade are you used: 0,5%, 1%, 2%

What % of working capital on each day are you used?.

Personally i thought used 1% on each trade, and 3% on each day (that's means that after 3 losing trade in the row, i'm stopping trading for the day): what do you think of that?

Thanks

I hear and I forget. I see and I remember. I do and I understand.

#6,733
Jun 6, 2011 1:02am Jun 6, 2011 1:02am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting boubafx

Disliked

I have a question about trade management. I used to trail my stop to BE as soon as profit = stop.

I have read sometimes sho told us to do like that, and sometimes he told us to move the stop to BE as soon as the next bar goes into profit.

How do you practice?

In your opinion and your experiment what is the best trade management way?

Thanks for your replies

Ignored

Hi Bouba,
It is an interesting topic also for me. I have not been trading the exact method You do (tought by Sho) so it is difficult for me to comment on it.
I can only say how I deal with it.
What concernes mechanical methods I use the two bars stop loss - I trail my stop on the close of each bar over or below two full bars back, this method is tought by mbqb11 member.
During the strong move when I am in profit I trail my SL below or over the last closed bar in case the price reverses as quickly as it advances my way.

But my favourite sl trailing is not mechanical. I draw all the PPZ Price Pivot Zones and watch the price. When itcloses over or below one of them I move my stop to the opposite side of PPZ to secure my profits but far enough to secure the farther run - not being closed by any accidental move.

Peter

Jesus Christ is my only Lord !

#6,734
Jun 6, 2011 3:22am Jun 6, 2011 3:22am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Hi peter,

If i well understand you never used a take profit, you alwais wait the price touches your trailing stop, isn't it?

I prefer used a TP fixed when i'm taking the trade with R:R 2:1.

I find it's more confortable for me

I hear and I forget. I see and I remember. I do and I understand.

#6,735
Jun 6, 2011 3:55am Jun 6, 2011 3:55am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting boubafx

Disliked

Hi peter,

If i well understand you never used a take profit, you alwais wait the price touches your trailing stop, isn't it?

I prefer used a TP fixed when i'm taking the trade with R:R 2:1.

I find it's more confortable for me

Ignored

No, not exactly - I mostly use TP also, but in case I do not use it fixed - I trail my stop as I have described

Peter

Jesus Christ is my only Lord !

#6,736
Jun 6, 2011 4:06am Jun 6, 2011 4:06am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

It was a BE (because price bounces on the H1 support (80,16))

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I hear and I forget. I see and I remember. I do and I understand.

#6,737
Jun 6, 2011 4:32am Jun 6, 2011 4:32am

hipcio
| Joined Apr 2008 | Status: Trader | 1,171 Posts

Quoting boubafx

Disliked

What % of working capital on any one trade are you used: 0,5%, 1%, 2%

What % of working capital on each day are you used?.

Personally i thought used 1% on each trade, and 3% on each day (that's means that after 3 losing trade in the row, i'm stopping trading for the day): what do you think of that?

Thanks

Ignored