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  • #2,141
  • Jul 5, 2011 8:45am Jul 5, 2011 8:45am
well it went down 20 pips so at least i have managed to set sl to break even

because it seems to be having problems (as so many of my trades do) holding the break of the mid-line

whatever happens now it is a "free" trade

Quoting docrock
We got about the same entry, I think we will be happy with this one
:nerd:
  • #2,142
  • Edited 9:16am Jul 5, 2011 9:04am | Edited 9:16am
Quoting jmw1970
no, not upset with anyone

maybe I explained it wrong (english is not my first language)

in an earlier post (post 2122) you mentioned that if you get enough replies you will explain how could give us one other tip on how to avoid bad entries

thats what I am waiting on.. the other tip

regards, john
oh my mistake then.. my apology..

sure i give it out..
but I also said if i see enough interest as i don't want people to think I am forcing anything or show boating etc.. you know how one can get attacked for no reasons in forums in general.. you come with the best intention and get slammed all of sudden.. lol
but i must warn its nothing super technical.. it's just something simple i use.


ok to everyone..

its called the 4th minute of the 5 minute candle..
for example..
when the RF signal goes off or you get a candle that is breaking back inside the band that your looking to get in the action off the OB or OS or mom.. instead of getting in right away on the first 3minutes of the candle or the beginning stage of it.. or waiting for the full candle to close and getting in on the next candle..
instead of both those scenarios... wait up to the arrival of the 4th minute of the candle... IF it has shaped into solid candle in your direction than you can enter within that 4th minute... whatever the candle shape is up to the 4th minute it will most times stay the same or better and not change most times to completely a different look on the last minute of it..
so if i choose to make a early entry it will be in this fashion.

I hope it's find useful.. it's just a tip from a brother..
  • #2,143
  • Jul 5, 2011 9:15am Jul 5, 2011 9:15am
Quoting jmw1970
well it went down 20 pips so at least i have managed to set sl to break even

because it seems to be having problems (as so many of my trades do) holding the break of the mid-line

whatever happens now it is a "free" trade
yeah same here , I set stop at be+10,

went for breakfast, didnt have the MOmentum so stopped out at +10

thats the way ...I like it
  • #2,144
  • Jul 5, 2011 9:17am Jul 5, 2011 9:17am
will have to pay closer attention to the charts and check this out

cheers

Quoting P.Dean
its called the 4th minute of the 5 minute candle..
  • #2,145
  • Jul 5, 2011 9:19am Jul 5, 2011 9:19am
EU, stopped out at BE, spiked up, took me out, then continued back down

maybe the us traders celebrated a bit too much yesterday and can't decide what they want to do today.

I am beginning to think, that maybe i should never move my initial sl as this has happened a few times

if at trade entry I am willing to lose x pips, maybe i should just accept that and always leave my stop as is
  • #2,146
  • Jul 5, 2011 9:46am Jul 5, 2011 9:46am
Quoting jmw1970
EU, stopped out at BE, spiked up, took me out, then continued back down

maybe the us traders celebrated a bit too much yesterday and can't decide what they want to do today.

I am beginning to think, that maybe i should never move my initial sl as this has happened a few times

if at trade entry I am willing to lose x pips, maybe i should just accept that and always leave my stop as is
I also find it best to not touch the initial stop if its within the comfort zone appitite for a loss.. my e/u trade was the same.. i decided to go for a no risk trade and i end up losing on a +20 profit..
it allows the PA to develop and show its true intention and it also saves us from extra trades as to less in's and out's..
maybe its better to lose one big one instead of two or three little one and miss possible profit potential on top of all..

your thought and comment folks??
  • #2,147
  • Jul 5, 2011 10:12am Jul 5, 2011 10:12am
i know what you mean

i got in again on the EU but at a price 15 pips lower than my earlier entry, so first I lost on spread / slippage on the first trade (3.2pips), and my second trade started out at effectively -15

come on people - this is a forum - share your thoughts/opinion on this subject

otherwise it's gonna get very lonely in here
  • #2,148
  • Edited 11:06am Jul 5, 2011 10:55am | Edited 11:06am
Quoting jmw1970
i know what you mean

i got in again on the EU but at a price 15 pips lower than my earlier entry, so first I lost on spread / slippage on the first trade (3.2pips), and my second trade started out at effectively -15

come on people - this is a forum - share your thoughts/opinion on this subject

otherwise it's gonna get very lonely in here

well John my friend.. what i have found is that people are full of comments, excitement and etc, when market is alive and kicking and other times not so much so.. when market is ranging and not alive most people lose money or not make as much so it's natural to either quit for the day or stay quiet, or worse go on tilt and not to come to talk about it.. lol
but on the same token, the fact of the matter is that a Trader becomes "A Trader" when he can bear with these days the same as the good days... if you all ask me for example, I have learned and find tuned things awful a lot more on bad range/chop days verses the good alive trending days.. one's true skill would get build stronger from handling the range and choppy days no matter what system you use at some point you will have to face it.. sometimes its easy to avoid the range days in total, but chop days are impossible bcz it keeps you on your toes and it makes you think that this is the one that can run or make profit on..
anyways, that's why i choose to stay more active even more on such days in forum bcz that's the time to help and get help and not to get bored mean time.. so its a win win situation.. and if everyone could do the same, i think only good could come out of it if trading is your goal and passion.

for example the first two weeks of this thread.. market was really hot.. there was runs and runners left and right overall it was alive market.. the last two weeks, not so glamorous.. but the questions is in which period we learned more and made the necessary adjustments up to now so we can successed on both period and more importantly to avoid vanishing our accounts.. i think everyone should know the answer..
i think John has been perfect example as to keep monitoring and coming up with different tools and etc, for better results.. but i don't think he would be as more active if he was making 50 100+ like the first week..
so John my hats off to you bud.

just some words from the guy next door everyone, don't take anything i say too serious.. lol
  • #2,149
  • Jul 5, 2011 11:11am Jul 5, 2011 11:11am
Quoting P.Dean
hen market is ranging and not alive most people lose money or not make as much
My morning ...all euro/dollar

Now breaktime

See you fellas later
Attached Image
  • #2,150
  • Jul 5, 2011 11:17am Jul 5, 2011 11:17am
sorry for not showing this from the beginning got busy with making the last post..
this pair has been super ranging all day.. but once it broke the lower band and quickly bouncing back inside the canal and the band.. i took it on the RF 4th mintue and will be exiting soon if it don't break the upper band.. my expactation out of this trade is to reach the upper canal daily range (blue line).. but i will not hesitate to settle for any less than 15 20+.. right now its flirting with the upper band..

i just wanted to show the 4th minute entry example on this one..


edit 1 : puts to rest for +16.. i was hoping to get more so i can finish the day with break even.. but now i might have to swallow some loss for the day.
Attached Image (click to enlarge)
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  • #2,151
  • Jul 5, 2011 11:20am Jul 5, 2011 11:20am
Quoting docrock
My morning ...all euro/dollar

Now breaktime

See you fellas later
nice job...
that's why your nickname finishes with ROCK.. lol
  • #2,152
  • Jul 5, 2011 11:36am Jul 5, 2011 11:36am
good going,

today i kept on hoping for breakout's that just never materialised

and from your trade statement it seems that scalp, scalp and scalp some more was definitely more profitable

i normally position trade, looks like there is whole lot of other nuances to short-term trading..

the good thing is, I've narrowed it down to my 2 biggest weaknesses and both are to do with exits (which is funny as most systems on threads deal with entries)

1) stop losses (not used to them as they really aren't applicable in position trading)
2) when to scalp and when to run profits (again not used in position trading)

regards, John

Quoting docrock
My morning ...all euro/dollar

Now breaktime

See you fellas later
  • #2,153
  • Edited 12:14pm Jul 5, 2011 11:57am | Edited 12:14pm
following up on john's post.. about one knowing his weakness/strength and exit..
my weakness is to take action on every valid opportunities.. not being present all the time..

but about exit... i just go with amusing the worse at first always.. IMHO its impossible to know , feel, assume or predict what kind of a market is in store for us starting our days out or even mid day or end of the day,, this damn thing can run or make sideways PA on a blink.. as soon as one decides to scalp for the day.. market will take one direction on one signal and runs to the moon and when decides go for runners, market will go sideways till you get sick to your stomach.. both can result in damages once market fuck with the mental..
so, when I enter a trade on top of the key (bands ob/os) my first intention/expectations out that trade is to exit at the other side of the band if its not presented with a clear strong break of the band.. so on other word i start as a scalp mentality and what i get beyond it would be a bonus .. even though i really gun for longer profit, a runner like.. it's only kept in back of my mind but with hawks eye on the band price action.. so I would not hesitate to take the profit on wishy-washy action at the band.. I actually grade myself on such exits.. other day i made terrible decision on banking with G/U while it was a clear strong break of the band.. i got +17 PA ran for 120.. me as a trader that little part is a make or break for me.. and it's superbly vital in this system to not exit prematurely on clean strong break when its visible easily..

now, this works with this system.. for two reasons.. 1) bcz we get plenty of opportunities even on rangy sluggish days, so a +5 +10 here and there will sum up to a good amount at end of the day like docrock results..2) this system skins the cat in two ways... ranging market and trending market.. so could be always in the action to get your chunk.
with these two luxury at hand.. it's ok to bank less than your risk.. our true risk in most setups is 20 25pips.. but with high hit ratio when banking +10's.. you can make pretty good bottom line at the end of the week or month even on most days..
that's my take on the exit issue.

again this is just me.. do what makes sense to you.. what fits your plan and goals and simply what seems right for you overall.
  • #2,154
  • Jul 5, 2011 2:37pm Jul 5, 2011 2:37pm
Oh its diffecult thise dayes

And if I just could deside which stoch I want to use

The old ones

or that NRP John made for us

Can we have a poll about it. LOL

Peter
  • #2,155
  • Jul 5, 2011 6:06pm Jul 5, 2011 6:06pm
Guys. Did I miss something? Kevinator's last post was on June 20. Is he on vacation or something? Just curious. Thanks
  • #2,156
  • Jul 5, 2011 6:20pm Jul 5, 2011 6:20pm
By now everybody should be able to trade and make pips with his system on your own.
  • #2,157
  • Jul 5, 2011 8:28pm Jul 5, 2011 8:28pm
Thanks a lot for sharing.
  • #2,158
  • Jul 5, 2011 9:32pm Jul 5, 2011 9:32pm
dearest Traders all over.

just sharing. kevinator, P Dean n the active gangs n all. firstly my millions thanks for being so active wt comments n charts. I dont know how to upload charts here n share wt all of us.

my 2 cts believe no matter what, we still hv to be aware of daily PA to basically n mentally to decide our daily game plan.

may all being bless n showered wt profits n brings cheers to all our beloved
Loving Life.............
  • #2,159
  • Jul 5, 2011 9:36pm Jul 5, 2011 9:36pm
hi see your charts indi for stoch has the 30m up n 4h up. how do put it there? thanks n stay cheerful coz cheerfulness brings abundance of health. love n wealth
Quoting P.Dean
sorry for not showing this from the beginning got busy with making the last post..
this pair has been super ranging all day.. but once it broke the lower band and quickly bouncing back inside the canal and the band.. i took it on the RF 4th mintue and will be exiting soon if it don't break the upper band.. my expactation out of this trade is to reach the upper canal daily range (blue line).. but i will not hesitate to settle for any less than 15 20+.. right now its flirting with the upper band..

i just wanted to show the 4th minute entry example...
Loving Life.............
  • #2,160
  • Jul 6, 2011 12:59am Jul 6, 2011 12:59am
Hi fellow traders,

I have been using this system for some time now and it works pretty well for retracement entries for a continuing trend. However, i am unclear on how to enter or spot trend reversals with this system.

Any thoughts?

Cheers
Vicky
Fall seven times, stand up Eight! #GGMU
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