Igrok Method. Q's & A's. Comments, thoughts and ideas | Page 332 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Trading technical analysis system based on Igrok method 137 replies

Forex Ideas & Comments 18 replies

The IGROK files - Adventures of a rookie using the Igrok method 416 replies

Fibonacci thoughts & ideas.... 13 replies

Attachments: Igrok Method. Q's & A's. Comments, thoughts and ideas
Exit Attachments

Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #6,621
  • Jun 2, 2011 4:34pm Jun 2, 2011 4:34pm
just to be akward ..lol., i dont think cable will hit the lower border?? i think the 1.5300 is too strong and the doller too weak. Of course just guessing.

happy hunting buddy

jon
PATIENCE... DISCIPLINE
  • #6,622
  • Jun 2, 2011 4:53pm Jun 2, 2011 4:53pm
Quoting g_j_hook@yah
just to be akward ..lol., i dont think cable will hit the lower border?? i think the 1.5300 is too strong and the doller too weak. Of course just guessing.

happy hunting buddy

jon
1. The chart you sent me has a TL based on two touches coming from the north and a third touch coming from the south. Therefore, the line was broken at the third approach from the NORTH. Therefore, it is NOT a TL.

2. It's quite obvious that one cannot take a trade from an ascending resistance because this line 'opens' space for price to hit you S/L (which is a parallel line). Book page 86.

3. I usually try not to guess. Rather I wait for the swing of the market and follow the trend or just follow what the charts are telling me. This was not an obvious entry on cable. It required a lot of thinking, observation and creativity. But at the end, it fitted a template from Igroks book. Also the R:R was worth the shot: 1:55. Now I am sitting on quite good profit with no risk and looking for more as this pair will drop like a rock. That is what the charts are telling me right now. This was a trade for a positional trader which doesn't quite fit my profile. However, I took it and I am very glad I did.

If you think the dollar is weak, than don't you think that other people think it's a good time to buy? What happened to "buy on weakness, sell on strength???" Also, if you look at the dollar index charts, maybe you might want to reconsider your thoughts.

That's just my 2 cents worth.
  • #6,623
  • Edited 1:35am Jun 4, 2011 1:18am | Edited 1:35am
Quoting jupiter_peak
you will get the idea.
Jupiter, you've done it great anyway. At least because of small stop loss, not risked much. I drew old trend line cause I saw another zone of resistance . (additional resistance factor in a form of lower right border of a huge dimond in past). I meant, there were multiple reasons happened at the same place and at the same time.
And no metter was that traded pattern a H&S attached to a side trend or a rising chanell with multiple touches of upper border, that was broken on a fourth touch (as usually) but again standed for the fifth (it's a channel line not trend line)
  • #6,624
  • Jun 7, 2011 3:23am Jun 7, 2011 3:23am
bullish diamond on eu/us intraday..
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 29 KB
PATIENCE... DISCIPLINE
  • #6,625
  • Jun 7, 2011 11:34am Jun 7, 2011 11:34am
So quite in here these days (and theres a reason for that). I don't post too much but will drop a post or two when my time permits. Having said that todays USD/CHF #20.6 reached more then 1:1 R:R and I have moved my sl to b/e. A stress-free trade from here. Price ran into first trouble area (fta) for now. My targets are 1hr and 4hr divs in confluence with s/r levels or even awr. Will take profit and reverse to short position based on #18.4 intramonth, around months high, if all of the key ingredients for me will be present at the time being. So far it's just a projection and my plan. Reasonable or not - only time will tell.

Hope Igrok and the rest of the crew is doing fine. The Summer is kicking in and it's already too hot for me. Will have to get air conditioning system sooner then later.)

Regards and trade safe.

Cheers!
  • #6,626
  • Jun 7, 2011 12:45pm Jun 7, 2011 12:45pm
Quoting g_j_hook@yah
bullish diamond on eu/us intraday..
full position closed. lets see what tomorro brings??

jon
Attached Image (click to enlarge)
Click to Enlarge Name: chart 3.gif Size: 28 KB
PATIENCE... DISCIPLINE
  • #6,627
  • Jun 8, 2011 1:14am Jun 8, 2011 1:14am
Hi it's me again. Did ya miss me?:-) From last Friday I have a buylimit order on Aussy for #18.4 intramonth that comes inside a slightly ascending channel. Now price stopped where I thought it might and perhaps we have a higher low in place for a potential diamond scenario...My order stays and eyes on the price. Lets see how this one unfolds ;-)
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_h1_diamond_inside_channel.jpg Size: 114 KB
  • #6,628
  • Jun 8, 2011 2:40am Jun 8, 2011 2:40am
Quoting belekas
...todays USD/CHF #20.6 reached more then 1:1 R:R and I have moved my sl to b/e. A stress-free trade from here...
Trend 2 strong 4 me. Stopped out @ b/e. Next plz ;-)
  • #6,629
  • Jun 8, 2011 9:48am Jun 8, 2011 9:48am
Quoting belekas
Hi it's me again. Did ya miss me?:-) From last Friday I have a buylimit order on Aussy for #18.4 intramonth that comes inside a slightly ascending channel. Now price stopped where I thought it might and perhaps we have a higher low in place for a potential diamond scenario...My order stays and eyes on the price. Lets see how this one unfolds ;-)
Quoting belekas
Trend 2 strong 4 me. Stopped out @ b/e. Next plz ;-)
Finally filled long AUD/USD @ 1.0611 with original sl @ 1.0584 / After 1:1 R:R achieved sl moved to b/e. Lets see :-)
  • #6,630
  • Jun 8, 2011 10:17am Jun 8, 2011 10:17am
Quoting belekas
Finally filled long AUD/USD @ 1.0611 with original sl @ 1.0584 / After 1:1 R:R achieved sl moved to b/e. Lets see :-)
Stopped out @ b/e again. Next one plz :-)
  • #6,631
  • Jun 8, 2011 5:23pm Jun 8, 2011 5:23pm
Small comb on m15 chart targeting 1.46159 (MACD BULL).
  • #6,632
  • Jun 8, 2011 8:21pm Jun 8, 2011 8:21pm
Quoting jupiter_peak
Small comb on m15 chart targeting 1.46159 (MACD BULL).
Easy 40 pips and running.
  • #6,633
  • Jun 10, 2011 11:19am Jun 10, 2011 11:19am
Hello traders,
I was following this thread for a while, decided to make my first post there. I spoted an inclined channel on EUR/JPY, took a trade on a touch of a lower trendline expecting bounce of that trendline, keeping in mind that daily range is filled 110%. Will see how it goes
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy chanel.png Size: 11 KB
  • #6,634
  • Jun 13, 2011 12:55pm Jun 13, 2011 12:55pm
Quoting jokubka
Hello traders,
I was following this thread for a while, decided to make my first post there. I spoted an inclined channel on EUR/JPY, took a trade on a touch of a lower trendline expecting bounce of that trendline, keeping in mind that daily range is filled 110%. Will see how it goes
May work. Warning! One of the problems is that "everyone and his dog" can anticipate the same - it looks too obvious . So a bunch of stop orders will accumulate behind that line together with your order. That bunch can become a good target for stop hunters.

BTW it is interesting to hear opinion of other traders like g_j_hook@yah (http://www.forexfactory.com/member.php?u=61988), belekas (http://www.forexfactory.com/belekas) (any others) what they think about diagonals in that diamond. Do you think this pattern is single or double diagonaled? Which one of those two lines is right lower border? Personaly i believe that break normally occures in the direction opposite to the direction of the largest diagonal. Visually its main diagonal is up but break was also to the upside. In the case it has two diagonals then upside break could be foreseen and properly traded.
Attached Image (click to enlarge)
Click to Enlarge Name: DIAMOND.jpg Size: 86 KB
  • #6,635
  • Edited 2:05pm Jun 13, 2011 1:50pm | Edited 2:05pm
Quoting wolfraider
May work. Warning! One of the problems is that "everyone and his dog" can anticipate the same - it looks too obvious . So a bunch of stop orders will accumulate behind that line together with your order. That bunch can become a good target for stop hunters.

BTW it is interesting to hear opinion of other traders like g_j_hook@yah (http://www.forexfactory.com/member.php?u=61988), belekas (http://www.forexfactory.com/belekas) (any others) what they think about diagonals in that diamond. Do you think...
Simple question: how was it possible to trade properly its upside move, with two diagonals in it? Two means two possible sides or am i getting something wrong?
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #6,636
  • Jun 13, 2011 3:00pm Jun 13, 2011 3:00pm
Quoting wolfraider
May work. Warning! One of the problems is that "everyone and his dog" can anticipate the same - it looks too obvious . So a bunch of stop orders will accumulate behind that line together with your order. That bunch can become a good target for stop hunters.

BTW it is interesting to hear opinion of other traders like g_j_hook@yah (http://www.forexfactory.com/member.php?u=61988), belekas (http://www.forexfactory.com/belekas) (any others) what they think about diagonals in that diamond. Do you think...
Regardless of antecipating anything, if it's going to break up, or down, it's best if you take it in the direction of the main move. If you have a combination of the weekly main move + the days main move. Today, for example, I spotted a diamond on the 60 min charts. I really thought about taking the trade, but refrained from taking it just because the 'psychological' weekly main move is still not defined, (also we have holidays all over). If this had occured more towards the weekend (if MM of week was up + main move was also up), than I would have taken it. On the other hand, one could of taken this trade on other assumptions for instance, R:R. if you think that 'hiding' your SL below the low of the day is enough risk for your potential win, than go for it. If not, stay away.

So, you can choose to take a trade based on MM, but also R:R.

Look at Kiwi today. Perfect example of a trade with excellent R:R. One could easily book 90+ pips with a 30 pips risk. The same goes for UJ. Just that UJ doesn't quite move like kiwi... ;-)
  • #6,637
  • Jun 13, 2011 3:52pm Jun 13, 2011 3:52pm
Quoting jupiter_peak
Regardless of antecipating anything, if it's going to break up, or down, it's best if you take it in the direction of the main move. If you have a combination of the weekly main move + the days main move. Today, for example, I spotted a diamond on the 60 min charts. I really thought about taking the trade, but refrained from taking it just because the 'psychological' weekly main move is still not defined, (also we have holidays all over). If this had occured more towards the weekend (if MM of week was up + main move was also up), than I would have...
Totally agree with that trading in the current markets move will give overall edge in the long run, just like the casino has over his clients, the less counter trades the better chances is to survive in this game IMHO, also the less anticipating we have about next market movement the the more flexible we are adapting to it.
  • #6,638
  • Jun 14, 2011 2:03am Jun 14, 2011 2:03am
Quoting wolfraider
May work. Warning! One of the problems is that "everyone and his dog" can anticipate the same - it looks too obvious . So a bunch of stop orders will accumulate behind that line together with your order. That bunch can become a good target for stop hunters.
Thank you for advice, so if the setup looks to obvious it has less chance to workout? Would like to hear more about that, wanna make better decisions in future in situations like this. Btw still holding that position, moved my stop to break even this morning, floating 80 pips at the moment.
  • #6,639
  • Jun 14, 2011 9:42am Jun 14, 2011 9:42am
Quoting PutaMadre
Totally agree with that trading in the current markets move will give overall edge in the long run, just like the casino has over his clients, the less counter trades the better chances is to survive in this game IMHO, also the less anticipating we have about next market movement the the more flexible we are adapting to it.
A beautiful diamond observed on the hourly240. min charts. Could of have been played out as an 18.4 or on the break itself.

However the way, int the direction of the weeks move + the days move itself.

;-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd_cad_h4_diamond_13_06_2011.gif Size: 22 KB
Click to Enlarge Name: usd_cad_h4_diamond_14_06_2011.gif Size: 21 KB
  • #6,640
  • Jun 14, 2011 10:18am Jun 14, 2011 10:18am
Intraweek pullback setup on USDSEK pair, just by watching all 3 nordic pairs at once i chose to shoot for SEK as it still has some room left to extend IW range, lets see how i rolls on during the week...
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 48 KB
1 trader viewing now