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Close Price VS Median Price (or other price types) 33 replies

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  • #141
  • Aug 1, 2011 4:13am Aug 1, 2011 4:13am
Quoting jmw1970
Hi All

attached are some new indicators for you to use if you want:-

!Retrace Finder CCI - I noticed that the retracement finder Dean originally posted has a lot of the extra logic for the Kevinator system that is not required in this method.

!TMA True v2 - This is a improved version of the TMA True indicator, this one is faster on initial load and shows some extra information.

In this method the bands are given classifications (Neutral, Mildly Striking, Striking) and depending on the classification different trading options are available.

This...
Thank you John.. its beautiful and well accepted by me.. i will use it myself.
the only thing that i like to see live is the TMA value for the MS condition of 35 compatibility, which i think with your experience i think is the correct one john.

now to everyone,
I recommend for everyone to tag the two new indies and know the abbreviation.

once again around of applause to our man John.
  • #142
  • Aug 1, 2011 4:14am Aug 1, 2011 4:14am
here is another Neutral Band trade for +14 pips... and also I missed a down signal between two trades...

it's +35 pips for today just from E/U.
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  • #143
  • Aug 1, 2011 4:29am Aug 1, 2011 4:29am
Quoting Bary
I also have a question regarding exact entry. Dean, you said
we will wait for the close of that bar and quickly set a pending order 2-3 below/above the closing point.. this is a must and a hard rule..
So do we set an order above/below the close of the signal candle or the h/l of the candle?
Thanks Dean for sharing. I was a follower of the Kelvinator thread and looking forward to following your live trade analysis.
Thanks to John also.
Barry
Hi Bary welcome to the thread..

the H/L my friend.
  • #144
  • Aug 1, 2011 4:30am Aug 1, 2011 4:30am
Quoting isengoz
hi all,

thanks p.dean for sharing your method with us. I hope all goes well and we can make use of every market situation either while trending or consolidating.

this is my first demo trade with this method. I considered the band's situation as neutral and entered into trade when RF gave an up signal. it was good for +21 pips.

any comments are welcome...

green pips to all...
textbook neutral setup play buddy.. well done.

Important point...
I may add here... on the neutral band play and only on this setup you may ignore the RF when you see a first solid close candle back inside the OB/OS band and place your order from there... this is normally one candle/Bar prior to the RF signal..
this serves two benefits:
1) your in for lower risk if it reverses on you.. you'll lose less..
2) more importantly you may get to your +10/15 and possible more profit once it reaches other side of the band especially when dealt with narrower band than usual.
but again only on this play.. and if you got a larger band like a +30range one, i would still wait for the RF close.

this should answer you sebastiian...

overall as we go along a lot more little stuff on real time i will throw in and soon enough you all will be expert at this.. that's why live trading together and cohesiveness will help greatly.
  • #145
  • Aug 1, 2011 4:49am Aug 1, 2011 4:49am
Quoting ozpips
How does this one look Dean/John.
I didn't see it develop but now in hindsight it looks a trade from Asia 1.15 GMT on GU.
Analysis: Pink line shows the trigger inline with RF. Identified MILD MOM setup.
Price put in a double top. Look left and you also see previous resistance from Friday session.
Low of entry candle is 1.6464. Entry would be 2-3 pips under @ 1.6461. Take Profit would be the mid band as price stalled there around 1.6444. profit about 17 pips.
can you please let me know your opinions on trade setup, and whether my analysis is valid...

Ok OZ,
thanks for posing this..
my opinion on this one is to be rejected as it look still a bit aggressive for the reverse shot taking.. allthough it falls into most craiteria of our rules and guidelines.. but some craft should be considerd here so we wont look like a machine here.. so this should be rejected for reasons above..

1) there is a double top but the trigger point is still way above the band.. we like to see the combo of DB/DT to form and pa crossing inside the band line still with consideration a milder looking band.
I understand it requires some discretion and my not look solid and firm... but that's what trading is otherwise a EA would have made us all a millionaires.

I hope it makes sense.
  • #146
  • Aug 1, 2011 5:00am Aug 1, 2011 5:00am
Quoting Sebastiaan76
Hi all,
am currently in a live trade.

Rational is Mildly striking upper band, double top an RF indicator trigger. Going for 15 pips.

Dean, any critique welcome
so to answer sebastiaan and its a great follow up on my last post about MSBT DB/DT play...

this one by sebastiaan is more like it..
-the band is very much mild..
-the DT and trigger point has creep-ed back inside the band and it looks like a ideal MSBT DT play and it has worked for a easy +20 bank.... all because the up trend was weak and we will punished when it reveals his hands like this.
so between the two examples by dear OZ and sebas there is fine line and some extra eyeballing and being careful...
no worries practice will make prefect.. experience will gain you this knowledge.

well done sebastiian...
  • #147
  • Aug 1, 2011 5:03am Aug 1, 2011 5:03am
I think i answered everyone concerns and questions.. I'll show some charts of possible trade setup that we had this morning and i look to get a live trade in myself..
  • #148
  • Aug 1, 2011 5:20am Aug 1, 2011 5:20am
here are today's opportunities... all winners...
now even if you have made couple of mistakes here and there by misjudging or simply take false signals you wont be hurt still and maybe ahead...
but once its mastered... you rake in cash like crazy.. considering that today since the open of EU the PA range overall on all pairs is under 70..

so the concept is there... the market does what it does, range or trend or mild.. it up to you/us to be present, to get some practice under out belt, to eventually get comfortable with it to sooner or later tear it apart day in day out.
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  • #149
  • Edited 5:49am Aug 1, 2011 5:24am | Edited 5:49am
short on GU NT live..


edit 1: on this live trade if it runs to test the lower band... i want everyone watch my exit... as measure the strength of the break in order to keep it for more profit or if its quick bounce and going for the quick bank..
I measure it as.... SB (strong break).. WB (weak break)
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  • #150
  • Aug 1, 2011 6:02am Aug 1, 2011 6:02am
Quoting P.Dean
short on GU NT live..


edit 1: on this live trade if it runs to test the lower band... i want everyone watch my exit... as measure the strength of the break in order to keep it for more profit or if its quick bounce and going for the quick bank..
I measure it as.... SB (strong break).. WB (weak break)


what i look for at the band is a STRONG BREAK.. any less than that i take the money... and say next.. thats it..
outcome +16..


now listen carefully..

this may very well take off for short and run 10 million pips.... i can care or less... bcz it did not do it when i wanted or should have.. and that was the initial candle break of the band...
this is called YOU dictating the situation and not depending on the market or getting dictated.
your the master commander..

this is a major major piece that i want everyone to get... The Band play for exit or beyond..

wanna be a major playaaa, lol .. this is it, this little play..
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  • #151
  • Aug 1, 2011 6:03am Aug 1, 2011 6:03am
EURUSD - Short MSCT (123)
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  • #152
  • Aug 1, 2011 6:14am Aug 1, 2011 6:14am
Quoting jmw1970
EURUSD - Short MSCT (123)
nice play John..
mild band... DT.. trigger point inside the band.. lil 123 on top of it.. could be good for a nice quick scalp or the kicker.... and that is could go on a major run.. oh ya..


no to everyone..
this play is very advanced.. for newbies just take notes and after you fall comfortable with other stuff and got some wins under your belt than you can take up on this type of play so if you make mistake and lose on this ones you got your other wins to fall back on so mental you wont get hurt..
remember its all mental after some stage..

now for John on this trade he will be watch the PA mid band reaction with options:
- to hold a bit extra to see if he can get a break and the test of lower band..
- to be quick if its bouncing bank what he can..
- to not get burned at all if it bounce crazy getaway with a small loss or breakeven after such riskier shot taking..
  • #153
  • Aug 1, 2011 6:15am Aug 1, 2011 6:15am
John,
I'm in same trade. It's so logical! Price is above the bands ( i.e. it's Overbought).
It makes a high, then a second attempt - and fails. It's ripe for a short!

RF finder triggers, and away it goes

what are your thoughts about a possible MOM trade long from the mid line, or opposite band?
- Look to the left, Trade to the right - I am the system
  • #154
  • Aug 1, 2011 6:17am Aug 1, 2011 6:17am
Dean, thx for the live analysis. I was in the same trade (GU) and also took profit.
Question:
How many candles after the signal candle will you wait for an entry if it is not triggered on the next candle?
Thx, Barry
Barry
  • #155
  • Aug 1, 2011 6:17am Aug 1, 2011 6:17am
I play price action alot like you I use no indicators just supply and demand lines and also play triangle and range breakouts as well I outline the supply and demand areas with a rectangle on my charts as far as how I play them I will short at supply and go long at demand areas .

As far as the break out I wait for a price retracement back to the breakout area and then I hop on the direction of the breakout I use the range area or triangle distance as my take profit and I'm doing very well trading both those system not using any indicators just taking orders with market flow using price action on the 30 min 1 hr and 4 hr charts I do sometimes trade the daily but not to often.
  • #156
  • Aug 1, 2011 6:21am Aug 1, 2011 6:21am
hence the important notes that i drop during real time live plays of my own and others... it falls into trade managements which is more than half the battle of a trader...
a plan without such notification in the heat of action is nothing and it won't click for a trader...
these are the make or break for a trader to become good.
  • #157
  • Aug 1, 2011 6:23am Aug 1, 2011 6:23am
EURUSD - bailed for +4.6 pips

reasons:- didnt like the reaction to the mid-line and also was not so sure that my definition of mildly striking was correct, as when i looked closer at the chart the EU has only been moving upwards since the asian open
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  • #158
  • Aug 1, 2011 6:25am Aug 1, 2011 6:25am
Quoting jmw1970
EURUSD - Short MSCT (123)
I was in the same trade, too. I lost my connection for a couple of minutes. When I got connected again, price went down to middle band and was already rising. I got out at +3.

+38 for today up to now... not bad...
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  • #159
  • Aug 1, 2011 6:28am Aug 1, 2011 6:28am
Quoting Bary
Dean, thx for the live analysis. I was in the same trade (GU) and also took profit.
Question:
How many candles after the signal candle will you wait for an entry if it is not triggered on the next candle?
Thx, Barry
I normally keep the order until:
a) makes a new High or Low
b) stall too much and comes up with a new RF signal within same range..
  • #160
  • Aug 1, 2011 6:31am Aug 1, 2011 6:31am
Quoting jmw1970
EURUSD - bailed for +4.6 pips

reasons:- didnt like the reaction to the mid-line and also was not so sure that my definition of mildly striking was correct, as when i looked closer at the chart the EU has only been moving upwards since the asian open
spot on.. it was a bit aggressive but a valid one...
so when you know what your doing.. and after trigger it don't pan out exactly to what you want.. you go after quick bank or accept the minimal loss and go after next setup..
this is called full awareness and platinum trade management..

perfectly done by John here.. awesome job. ( same for ison)
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