Attachments: PRICE Accordingly

PRICE Accordingly

#381
Edited 4:19am Aug 9, 2011 3:25am | Edited 4:19am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting ozpips

Disliked

Hi P.Dean,

Looking at your chart it looks more like mild strike. MSBT. Small range and TMA value under 35. Please correct me if I'm wrong....

Do you trade a whole session or just a few hours?
I'm wanting to build a trading routine based around a 3hour block. Not ready yet but soon. the strike rate of success on Price Accordingly is wonderful. Even losing trades give you a pip or two profit before they turn.

Bigger losses are hard to take. How often would you let a hard stop be hit please say in every 10 losses?

Ignored

hi,
Mildly striking band play normally refers to a counter trade...
in this case here.. the band may look mildly striking but my entry is towards the direction of the band.. (don't get too fixated on the numbers.. try to see the true face of the price)..so it falls into a Momentum trade setup.

I try very hard to trade the whole European, but i do get lazy.. however in order to be fully successful its important to trade the whole session (10hr long).

hard sl for me gets hit very rarely.. for everyone this could be different since experience, many practiced trades, quickness and etc, plays a big part..
one major tip..
If one would be constantly scared of getting hit with hard SL.. would never become successful because it cripples ones ability and will to trade properly, and it start with second guessing which leads to fear of pulling the trigger, and, pulling the trigger in the wrong time.

I recommend for one to rather lose than do nothing or do it with fear and be wishy-washy!! .. stay on course with the plan and get many many real account practice trades under your belt, learn to lose and correct it the next time, and you will slowly see better and better results.. before you know it you are a real Trader.. a Force.. a Player.

#382
Edited 4:11am Aug 9, 2011 3:35am | Edited 4:11am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

well done John and sebastiian..

width of the band and previous drop is just too big.. so the signal is perfectly valid butttttttttttt, could be weak.. so if i take it I MUST be sharp and on slightest hesitation to settle for small win or small loss.

this kind of awareness comes only with mastering of your trading plan.. how that happens?.. trade after trade day in day out, wins and losses and eventually you will win over it and produce at will or consistently.

I am up +95 pips today... displayed only about 40 of it though.. the point of my live plays are for you to get it and not for me to show off.. I do my best to get out as many as live one as i can, it consumes time and affects concentration when too many signals at the same time.

gotta get some lunch be back in 1hr..

#383
Aug 9, 2011 4:13am Aug 9, 2011 4:13am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting Kherzfeldt

Disliked

I believe I am ready to posting my trades for review. Does the room prefer the black background for the charts? Thanks Kherzfeldt

Ignored

no rules on that.. do as you wish brother..

#384
Aug 9, 2011 5:07am Aug 9, 2011 5:07am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

watch the chart..

I personally passed on this signal.. as its obvious this market is imbalance in full at moment awaiting the later on today's rate announcement with NYS opening before hand..

so either do not trader for rest of the day or trade, but and choose your time extra carefully and look for the best..

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#385
Aug 9, 2011 5:19am Aug 9, 2011 5:19am

Barbossa
| Joined Aug 2011 | Status: Trader | 233 Posts

Just registered to say "thanks" for the nice and quick system you present here. Novice and learning, but this is probably the first system that doesn't confuse me at first glance. Simple and straightforward.

#386
Edited 7:42am Aug 9, 2011 7:21am | Edited 7:42am

jmw1970
Joined Sep 2010 | Status: Trader & MQL Coder | 776 Posts

WARNING:- The following is ONLY for people who have mastered the basic trading technique. This is an advanced strategy.

The standard methodology covers all trading scenarios, there are times however due to the entry guidelines that it is not possible to trade as appropriate signals do not come in time.

This advanced strategy CAN ONLY be trading when one of the following is true:-

Narrow TMA Range on 5m, price is bouncing between upper & lower lines
Wide TMA range on 5m, price is bouncing between mid-line and one of the outer lines

By narrow TMA range I mean between 25-30, by wide TMA range I mean above 50+

ie. In all cases the price will be ranging up & down by about 25 pips plus

AGAIN:- DO NOT TRADE THIS AS YOUR NORMAL ENTRY METHOD.

The standard methods of entry are employed in this advanced strategy, ie. good price action, bounce off a upper / lower line, and optionally a good RF signal

This is traded using the 1m charts, with reference to the 5m values

On your chart you will have the standard TMA True, however you will replace the Retracement finder indicator with !Retrace Finder 5m Candles and you will add a new indicator !5m TMA Candles

You may need to play around with the Chart Shift arrow to display everything correctly

In the end you will get a screen as shown below:-

The candles on the left are the standard 1m candles, the candles on the right are the 5m candles along with the TMA of 5m

Likewise on the Retracement finder indicator, the bars on the left are the standard 1m CCI, the bars on the right are the 5m CCI

You trade as you would a standard neutral band on 5m, ie. looking for bounces off the upper/lower band

How I use this, I trade as normal from the 5m chart, if one of the scenarios occurs when I can switch to this scalping method, I switch to the 1m chart with these indicators, once the 5m has switched back to a normal environment that can be traded, then I switch back to 5m

WHY? Days like today, when the bands have a range of 60 plus but the price is staying in the upper/lower quadrant of the TMA and bouncing between the mid-line and the outer line.

WARNING, WARNING, WARNING - Hopefully there are now enough warnings in this message, this is for advanced scalping ONLY, and should ONLY be attempted once you are comfortable with the standard 5m method

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Attached File(s)

!5m TMA Candles.mq4 5 KB | 431 downloads

!Retrace Finder 5m Candles.mq4 5 KB | 442 downloads

#387
Aug 9, 2011 8:26am Aug 9, 2011 8:26am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting jmw1970

Disliked

WARNING:- The following is ONLY for people who have mastered the basic trading technique. This is an advanced strategy.

The standard methodology covers all trading scenarios, there are times however due to the entry guidelines that it is not possible to trade as appropriate signals do not come in time.

This advanced strategy CAN ONLY be trading when one of the following is true:-

Narrow TMA Range on 5m, price is bouncing between upper & lower lines
Wide TMA range on 5m, price is bouncing between mid-line and...

Ignored

Hi John,

Has it occurred to maybe its the best time to sit on the hands!!
I put it in nutshell.

with respect.

#388
Aug 9, 2011 7:00pm Aug 9, 2011 7:00pm

Chips69
| Joined Feb 2011 | Status: Trader | 8 Posts

P.Dean - fair enough comment when the markets are quite volatile but
jmw1970 has put up an alternative trade, and viable trade at that. Many traders go to a 1M chart when times get volatile. Yes it's an advanced trade but for each trader to grow he needs to be aware of alternative tactics/views in trading. Both of you expressing your own ideas and thoughts makes this an interesting thread.

#389
Aug 9, 2011 9:07pm Aug 9, 2011 9:07pm

ozpips
| Joined Sep 2009 | Status: Jack of all Trades | 328 Posts

Quote

Disliked

I recommend for one to rather lose than do nothing or do it with fear and be wishy-washy!! .. stay on course with the plan and get many many real account practice trades under your belt, learn to lose and correct it the next time, and you will slowly see better and better results.. before you know it you are a real Trader.. a Force.. a Player.

Hi P.Dean, thanks for your words of wisdom. It's the wishy-washy part that gets the better of me. Even more than usual on these small TF's. Only trading this system on a micro account but i treat every trade like its a full lot. Difficult to relax at the best of times.
Lots of small wins are great for the psyche, but a hard stop loss hit would wipe out all my gains in the way I'm currently trading. I guess I need to work on this factor to go forward.

Quote

Disliked

WARNING:- The following is ONLY for people who have mastered the basic trading technique. This is an advanced strategy.

Very nice John. I can definitely see myself migrating to a 1m down the road. Not yet though....

#390
Aug 10, 2011 1:23am Aug 10, 2011 1:23am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting Chips69

Disliked

P.Dean - fair enough comment when the markets are quite volatile but
jmw1970 has put up an alternative trade, and viable trade at that. Many traders go to a 1M chart when times get volatile. Yes it's an advanced trade but for each trader to grow he needs to be aware of alternative tactics/views in trading. Both of you expressing your own ideas and thoughts makes this an interesting thread.

Ignored

Hi,
Volatile and imbalance are two different things.. a solid trader who is consistent must have a NO Trade Zone/Time or careful trade zone/time in his arsenal.. in this Trading Plan this is it.. The Imbalance market we sit on our hands.

anyhow.. everyone are open to trade anyway they want.. it's just my take on what i support and what i reject as a thread owner.. with all do respect to John I reject this immensely bcz i know the damages and agonies that it can bring to traders world.. I can go on all day and tell you all the many reasoning for the damages.. but for now i let you all trade the so advanced strategy and find out for yourselves.. sometimes that is the best way to learn and earn.

#391
Aug 10, 2011 1:42am Aug 10, 2011 1:42am

rohule
| Joined Jan 2010 | Status: trading 4x 4 life | 559 Posts

hi P.Dean
i wanna share my latest trade on ej

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passion and discipline

#392
Edited 2:40am Aug 10, 2011 2:01am | Edited 2:40am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

short on CAD live.. NBT

edit: closed for BE..

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#393
Aug 10, 2011 2:41am Aug 10, 2011 2:41am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting rohule

Disliked

hi P.Dean
i wanna share my latest trade on ej

Ignored

that's usd/jpy, lol .. I don't trade this pair at all.

also I think your chart got too much noise..

#394
Aug 10, 2011 2:43am Aug 10, 2011 2:43am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

also been involved in this trade... short on AU Live NBT..

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#395
Aug 10, 2011 3:24am Aug 10, 2011 3:24am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting P.Dean

Disliked

also been involved in this trade... short on AU Live NBT..

Ignored

out for +18 at the touch of the band and some hesitation..

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#396
Aug 10, 2011 3:29am Aug 10, 2011 3:29am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

i missed it while i had two other trades, but it's no excuse..

did anyone took this?

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#397
Aug 10, 2011 6:07am Aug 10, 2011 6:07am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

I have posted all my trades up to now mid London session.. maybe it helps you with selection and timing of seeing the setups and making appropriate plays for entry and exits..
4-1 good for +78..
this is the way i saw the setups and took advantage.. we had a pretty normal PA up to now for today..produced about 8-10 signals already which i got in action in about half (not the best percentage.. around 2/3 is what it should be).. i have also pointed out the ones i missed due to late reaction or not recoing quick enough or simply not being at my desk.. the misses sums for around extra +50.
the point is.. the opportunities are there to take.. it just needs extra hunting and ambushing for the right time to jump in and get your chunk to make your daily goal and above.. that's the hard part, at least for me.

I grade myself a B for today's performance due to misses.

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