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

House price data price action 1 reply

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  • #321
  • Aug 4, 2011 5:59am Aug 4, 2011 5:59am
jmw1970......thanks for the compliment on the visual. I will make the corrections and repost. I agree with you analysis on the EU.More pullback will give us decent profit potential to the bottom band rather than having to rely on testing the double bottom.
"Amat Victoria Curam" Victory Loves Preparation
  • #322
  • Aug 4, 2011 6:11am Aug 4, 2011 6:11am
Good job on the trade plan. I will print it out for quick reference once you revise it. Thx
Thanks to John also.
I didn't catch the GU trades but took the EU short earlier for +15 and watching the EU at the moment.
Barry
Barry
  • #323
  • Aug 4, 2011 6:29am Aug 4, 2011 6:29am
Quoting daytrade5
P.Dean,,,,,,,,,,I just wanted to let you know that I appreciate your efforts on trying to teach us a solid way to analyze the markets. This is my first week following the thread so I've been doing more watching than taking live trades in order to gain confidence. Below is a chart for the AU where I saw 2 setups and took one of them. I noticed that when there is a strong directional move, the bands tend to constrict. I passed on the 1st signal because it was less than 10pips to the lower band. (noticed the same thing in the Cad seeing no signal to...
hi daytrade5,
thanks for your apperciation and thanks a lot for the visual, its awesome.

now the answer to your question..
I would not take the chance bcz simply this market can not be trusted from one minute to other.. a trend can start on a blink and end on a blink.. so i just try to scan between the 5pairs and take as what fits to my plan, this way i have a discipline over my work actions.. plus, in this style of trading we get plenty of signals, enough to be satisfied to no look else where or force trades even if they look so good.

I hope you'll find my answer useful.
  • #324
  • Aug 4, 2011 6:34am Aug 4, 2011 6:34am
Makes perfect sense......thanks!!!
"Amat Victoria Curam" Victory Loves Preparation
  • #325
  • Aug 4, 2011 6:39am Aug 4, 2011 6:39am
visual explanation on the follow up of my last post... as for better and wiser signals to take up on for higher success ratio even if in some cases like the examples above are the same and gave out the good positive results.. but a experienced well tuned trader sees this in real time and make the best decision..
the first setup fails more than half the time and the second setup maybe not fails as much but if does, you'll still walk away with +10/+15 in the bag.. that's what its all about folks..

read my very short but superbly strongly effective signature at the bottom.. took me years to get two those two words...
you'll need to be backed by "Survive" factor first and for most, before "Preserving"
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  • #326
  • Aug 4, 2011 6:57am Aug 4, 2011 6:57am
EU neutral band setup double top short pending order:
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  • #327
  • Aug 4, 2011 7:01am Aug 4, 2011 7:01am
Seen the same trade. In it live
Barry
  • #328
  • Aug 4, 2011 7:02am Aug 4, 2011 7:02am
short of EU live..
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  • #329
  • Aug 4, 2011 7:08am Aug 4, 2011 7:08am
I'm sitting on the sidelines at the moment, with the ECB press conference and ADP unemployment both due in 30 mins (though knowing my luck this will kickstart both back down in the original trend)
  • #330
  • Aug 4, 2011 7:09am Aug 4, 2011 7:09am
OUT at +11 pips. Bed time in OZ....Cheers
  • #331
  • Aug 4, 2011 7:11am Aug 4, 2011 7:11am
Worried it wouldn't move very far with news pending.
Barry
  • #332
  • Aug 4, 2011 7:14am Aug 4, 2011 7:14am
Quoting P.Dean
short of EU live..
+17 in the bag.. did let it breath for the bank.
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  • #333
  • Aug 4, 2011 7:21am Aug 4, 2011 7:21am
nice job guys... I see people moving along nicely.. its awesome.

I started the with -20 when i made a bone head play on GU when there was not even a signal presented.. must had hit in the head with 2x4 in bed..
but bounced right back with force and now turned it to +15... not a big number but its big turn in psychy stuff.

tip..
when i get beaten down.. especially on mistakes.. i try to right away to get a few small wins under my belt for to very commonsense reason..
1) not to fall behind in bottom line and stay level in win/loss column
2) more importantly.. for mental reasons... bcz i know if i am all well in that department i can be damaging big time.

I leaned this from mine playing Tennis days.. when i was missing losing points lucky or unluck or just simply playing bad.. then i was told to just go back to basics and get some balls back inside middle of the court to get your momentum and grove back.. than start to attack again and be super-fly.
  • #334
  • Aug 4, 2011 7:40am Aug 4, 2011 7:40am
John.. u said it.. .. lol
crazy market..

now you all know what could have been funnier... if it was a bullish move we could have actually seen a 500pips one day range in EJ.. lol
  • #335
  • Aug 4, 2011 7:43am Aug 4, 2011 7:43am
I agree Dean. In the past if I lost I would try to make it back and more on the next trade. Then instead of making base hits I would strike out again. Then you start revenge trading which is when you blow your account.
Thanks again for all your help. So far I've been consistent to the positive side.
Bary
By the way how do I add the post I'm responding to in my reply like all you guys do?
Barry
  • #336
  • Aug 4, 2011 7:46am Aug 4, 2011 7:46am
find the post you want to reply to, then in the bottom right as you look at it you will see a button "quote"

Quoting Bary
I agree Dean. In the past if I lost I would try to make it back and more on the next trade. Then instead of making base hits I would strike out again. Then you start revenge trading which is when you blow your account.
Thanks again for all your help. So far I've been consistent to the positive side.
Bary
By the way how do I add the post I'm responding to in my reply like all you guys do?
  • #337
  • Aug 4, 2011 7:47am Aug 4, 2011 7:47am
Quoting Bary
I agree Dean. In the past if I lost I would try to make it back and more on the next trade. Then instead of making base hits I would strike out again. Then you start revenge trading which is when you blow your account.
Thanks again for all your help. So far I've been consistent to the positive side.
Bary
By the way how do I add the post I'm responding to in my reply like all you guys do?

just click on the "Quote" button, bottom right of the post
  • #338
  • Aug 4, 2011 7:52am Aug 4, 2011 7:52am
Quoting Arnold49
just click on the "Quote" button, bottom right of the post
I figured it was that easy, I just missed it. Thx all
Barry
  • #339
  • Aug 4, 2011 8:09am Aug 4, 2011 8:09am
Quoting Bary
I agree Dean. In the past if I lost I would try to make it back and more on the next trade. Then instead of making base hits I would strike out again. Then you start revenge trading which is when you blow your account.
Thanks again for all your help. So far I've been consistent to the positive side.
Bary
By the way how do I add the post I'm responding to in my reply like all you guys do?

your welcome.


guys..
about news time i am not sure if i have already mentioned it or not yet..
I only pay attention to majors such as rate changes NFP and speaches of imortants.. now news such as the one we have today or likes of trade balances or etc are sort of secondary to me, i just stay careful and try not to get in the mix of it 10 minutes prior to it and 30min to a hour after it, if it showed large reaction.. need the dust to settle before getting involved again.

tomorrow is the NFP.. i do not trade on NFP at all and use the off day to give my account a rest for financial issues likes of withdrawal, changing balance from accounts to accounts and etc..

everyone loses money on NFP days.. you on other hand try to win and withdraw your months winnings.. build that habit, its good.
  • #340
  • Aug 4, 2011 8:29am Aug 4, 2011 8:29am
OK.......as promised here is the updated flow chart that I use as a reference for trade identification. Hopefully some will find it useful.
Attached File(s)
File Type: pdf Price_Action_Trading.pdf   83 KB | 745 downloads
"Amat Victoria Curam" Victory Loves Preparation
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