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Price action momentum trading

  • #21
  • Aug 2, 2011 9:32pm Aug 2, 2011 9:32pm
Quoting kk007
Price action momentum trading
Warm welcome buddy. Hope you like it and it explains to you some of my trades in choros thread.
Making money is easy- Just dont take losing trades
  • #22
  • Edited 9:58pm Aug 2, 2011 9:41pm | Edited 9:58pm
Subscribed! Thanks, thanks and thanks!
Riding the order flow
  • #23
  • Aug 2, 2011 9:45pm Aug 2, 2011 9:45pm
Hi Survivor,

really a good thread. I have several question :

1. the big candle is that possible have wick ? or just a body candle without wick ?

2. the big candle you advise is need to engulfed the previous candle ? so its like engulfing candlestick pattern ?

3. do you have minimum pips for big candle ?



Thanks a lot
  • #24
  • Aug 2, 2011 9:54pm Aug 2, 2011 9:54pm
I like this method. Thanks a lot.
  • #25
  • Aug 2, 2011 9:58pm Aug 2, 2011 9:58pm
Quoting pipfirst
Hi Survivor,

really a good thread. I have several question :

1. the big candle is that possible have wick ? or just a body candle without wick ?

2. the big candle you advise is need to engulfed the previous candle ? so its like engulfing candlestick pattern ?

3. do you have minimum pips for big candle ?



Thanks a lot
Good questions
1. Body is the actual gain made by one side against another. So thats important. Again, always remeber war analogy. Wick shows how far an army went and then retreated to settle back. I avoid siding with armies that retreats too far back. That means i dont like to take trades against large wicks.

2. yes its very much like engulfing but not in classical sense. Technically even one pip close higher is engulfing but i would prefer really large candles.

3. no minimum and maximum pips. it should just look VERY LARGE compared to previous candles. Just have a look at example chart in first post. See how large these candles look. They are just inviting you to jump.
Making money is easy- Just dont take losing trades
  • #26
  • Aug 2, 2011 10:43pm Aug 2, 2011 10:43pm
Thank you for your time. Your concept of trading looks very intresting. I will keep an eye on your thread.
  • #27
  • Aug 2, 2011 10:53pm Aug 2, 2011 10:53pm
Do you pay more attention to Momentum candles at key levels? i.e. Pivots, round numbers, higher TF S/R?

Or do you wait until you see higher highs and higher lows for long etc?

I'm just confused about exactly where you would take an entry

Edit: i.e. this EU. if it breaks above the pivot, would be long?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.JPG Size: 54 KB
- Look to the left, Trade to the right - I am the system
  • #28
  • Aug 2, 2011 11:35pm Aug 2, 2011 11:35pm
simple and good approach.I would love to read more of your posts.
thanks
  • #29
  • Edited 1:13am Aug 3, 2011 1:01am | Edited 1:13am
Quoting Survivor
USDCHF 1H... please ask questions. Please note that it's only for learning. its not right liquid time to trade. Funny things happen in early asia. better avoided.

EDIT: oops i am too sleepy. i missed that large blue bar at bottom. That shows good buying strength. let me update my chart
Nice one Survivor, this looks interesting .
To get this straight, when you see a momentum bar, do you ALWAYS wait for a small losing bar and then enter one pip above ( or bellow ) the momentum bar ? Did I get this right ?

What happens if you've got a winning bar after a momentum bar then ?


Also in regards to TP, do you usually got for a ratio of 2 * SL ? or do you move your SL so it trails ?


thanks for sharing
  • #30
  • Aug 3, 2011 2:41am Aug 3, 2011 2:41am
Hie.

I didn't participate in the trade, but I was wondering if so far whats been posted I've understood correctly.

http://my.jetscreenshot.com/demo/20110803-bk1i-99kb.jpg

Thanks
  • #31
  • Edited 4:03am Aug 3, 2011 3:17am | Edited 4:03am
I just made 17 pips, was it by the rules?

Edit: I actually just reached my daily target (40 pips) with two more trades on GU and EU... woot
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 55 KB
  • #32
  • Aug 3, 2011 4:14am Aug 3, 2011 4:14am
Quoting messiahua
I just made 17 pips, was it by the rules?

Edit: I actually just reached my daily target (40 pips) with two more trades on GU and EU... woot

You got it!! I was right there. But i made a killing in USD/CHF too. just have a look at 15M chart of that currency for learning. enough for today. Greed is bad. Hope others are catching things too.
Making money is easy- Just dont take losing trades
  • #33
  • Aug 3, 2011 4:15am Aug 3, 2011 4:15am
Quoting Konata
Hie.

I didn't participate in the trade, but I was wondering if so far whats been posted I've understood correctly.

http://my.jetscreenshot.com/demo/20110803-bk1i-99kb.jpg

Thanks
You are getting it right. Just go through entry rules and keep posting.
Making money is easy- Just dont take losing trades
  • #34
  • Aug 3, 2011 4:23am Aug 3, 2011 4:23am
Quoting Survivor
You got it!!
So glad to read it

Quoting Survivor
But i made a killing in USD/CHF too. just have a look at 15M chart of that currency for learning.
I hope you took all 100 pips !
  • #35
  • Aug 3, 2011 4:53am Aug 3, 2011 4:53am
Quoting Survivor
You got it!! I was right there. But i made a killing in USD/CHF too. just have a look at 15M chart of that currency for learning. enough for today. Greed is bad. Hope others are catching things too.
Hi. Survivor,

Could you post a chart explaining your entry for USD/CHF 15M and your killing? Btw, do you always trade on the 15M or any other time frames?

Kelvin
  • #36
  • Aug 3, 2011 5:36am Aug 3, 2011 5:36am
Interesting approach!
What is your exit strategy?
Thanks
  • #37
  • Aug 3, 2011 6:09am Aug 3, 2011 6:09am
Good post! Waiting more chart explaining. Thanks
Dancing with Candlesticks
  • #38
  • Edited 10:54am Aug 3, 2011 10:28am | Edited 10:54am
Hoping I can contribute in the future

OK so no MA's, no MACD , divergence, Fibs Pivots , You use pure naked PA and you are successful (consistently) ?
Any TF ? but I would presume the higher the more reliable yes
Just to confirm
  • #39
  • Aug 3, 2011 1:26pm Aug 3, 2011 1:26pm
Hie.

Was hoping that I got this right as well.

Please correct me if I'm wrong.

Please and thanks

http://my.jetscreenshot.com/demo/201...ml8y-166kb.jpg
  • #40
  • Aug 3, 2011 2:12pm Aug 3, 2011 2:12pm
Survivor

It is kind of unbeliavable! I use exactlly the same strategy for my entries and along with Dance/Choros strategy I have been growing my live account like hell .

I actually use this approach (mostly at lower timeframes) when I realize that I have missed the best entry point according to choros/dance. I haven't posted any of these trades to the choros thread because it would be out of topic and it would conflict unexperienced people.

I repeat...this is a very accurate approach and for those who use Choros/Dance strategy, when you miss a good entry, use it to catch the train even though it is running really fast

Great work survivor

Regards
You are allowed to fall but you are imposed to get up!
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