DislikedThis week for me:
4 losing trades, lost 104 pips
13 winning trades, gained 1,382 pips
It averages 75 pips gained for each of all 17 trades.
Also, this week the last of my "experiment" trades were closed. Net pips gained there were 1,354.
Regards,
-tahIgnored
- #26,242
- Sep 9, 2011 11:32am Sep 9, 2011 11:32am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #26,245
- Sep 9, 2011 2:55pm Sep 9, 2011 2:55pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #26,246
- Sep 9, 2011 3:59pm Sep 9, 2011 3:59pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
"....plan a TP just below the DT." -
DT? ... Care to define it?
DB = Double Bottom, potential or confirmed.
Basically referring in this case to an prior significant high where one might expect sellers to overcome buyers once again, thus producing a potential double top.
- #26,247
- Sep 9, 2011 4:08pm Sep 9, 2011 4:08pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,248
- Sep 9, 2011 4:11pm Sep 9, 2011 4:11pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,249
- Sep 9, 2011 4:12pm Sep 9, 2011 4:12pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,250
- Sep 9, 2011 4:15pm Sep 9, 2011 4:15pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,251
- Sep 9, 2011 4:17pm Sep 9, 2011 4:17pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,253
- Sep 10, 2011 9:40am Sep 10, 2011 9:40am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,254
- Edited 10:25am Sep 10, 2011 10:08am | Edited 10:25am
[quote=phi1ipp;4941580]Hi guys!
Since I've finished a couple of good deals I've been loosing pips every day. The problem is I'm confused with S&R levels and how they affect the deal.
One thing that might be help full for you and others to know is when price leaves an area which we might want to call support or resistance - traders place orders there for when price in most cases returns to test that area - which is where I put my point C, in my point ABC trading.
Therefore you will see the biggest response up/down move the first time price returns to the same area.
Now if price returns to that same area 2 or 3 times you will find that the up/down move now will be much smaller as traders are no longer interested in using a level that has already been used.
After price hits the area 2 or 3 times you will often see that moves in the other direction are on the way - most of the time they have already created waves like we use in Sonic R.
Hope this helps.
Hans
Since I've finished a couple of good deals I've been loosing pips every day. The problem is I'm confused with S&R levels and how they affect the deal.
One thing that might be help full for you and others to know is when price leaves an area which we might want to call support or resistance - traders place orders there for when price in most cases returns to test that area - which is where I put my point C, in my point ABC trading.
Therefore you will see the biggest response up/down move the first time price returns to the same area.
Now if price returns to that same area 2 or 3 times you will find that the up/down move now will be much smaller as traders are no longer interested in using a level that has already been used.
After price hits the area 2 or 3 times you will often see that moves in the other direction are on the way - most of the time they have already created waves like we use in Sonic R.
Hope this helps.
Hans
"The future is already written in the past"
- #26,255
- Sep 10, 2011 10:48am Sep 10, 2011 10:48am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #26,256
- Sep 10, 2011 11:42am Sep 10, 2011 11:42am
Did you take trades based on these charts? You have so much going on in your pictures I really am not sure what you are asking. In the case of the GU, while I see the arket trying to establish a support level, it failed to hold support. It did not present a SonicR long entry, so there should be no distress on your part. In fact, if anything, I see a SonicR short.
After price had broken the level I thought "No, there'll be pullback to the level" 
My mistake was that I thought the price should do what I thought she had to do instead of trading the clear template. I've read about such a mistake, but never thought I'll do it. It's a goog lesson for me I think you should take those indicators and channels and pivots off of your chart, at least for posting purposes ...
Thank you for the detailed comment. I appreciate your help very much.
- #26,257
- Sep 10, 2011 11:46am Sep 10, 2011 11:46am
One thing that might be help full for you and others to know is when price leaves an area which we might want to call support or resistance - traders place orders there for when price in most cases returns to test that area - which is where I put my point C, in my point ABC trading.
Therefore you will see the biggest response up/down move the first time price returns to the same area.
Now if price returns to that same area 2 or 3 times you will find that the up/down move now will be much smaller as traders are no longer interested in using...
Everything genius is very simple
Regards
Philipp
- #26,258
- Sep 10, 2011 12:11pm Sep 10, 2011 12:11pm
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #26,259
- Edited 2:03pm Sep 10, 2011 1:08pm | Edited 2:03pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
[quote=hansma;4944123]
Hans, I sort of agree with ddaytrader on this, but not to the extent he does. You see, both you and ddaytrader intrinsically understand what most of us do not. So, the "words" convey meaning to you both, but can make no sense to some of us.
For example, consider the phase you used, "....as traders are no longer interested in using a level that has already been used."
That phrase makes absolutely no sense at all. Professional traders are not eccentric traders, simply avoiding a price area because it "has already been used". That notion is absurd! However, if you were to take the time to explain what is actually happening, that which you and ddaytrader understand is happening, but which your words do not convey, then.....then I would agree with ddaytrader, that the post would be excellent.
Please understand that when it comes to teaching, if you assume the student has a higher level of understanding than what actually exists, then the lesson will be a waste of time, because the words will be meaningless to the student. The words will sound like just a bunch of jibberish!
Now, if I understand correctly (and please do correct me if I am wrong about all of this), here is what is going on; information and explanation that your words did not convey.
At various price levels/areas there are stacked up orders to buy or sell. Let us use the example of phi1ipp's trade in proceeding. As price is moved down by sellers to such a level, they will encounter large buy orders. This will stop the drop. Buyers will add more buy orders, but at a higher price so they can be assured of getting them filled. And the price may move higher. Sellers add orders, and move the price back down a bit. Now we have a "war" between sellers and buyers. Buyers will add, but higher than before, to assure fill. Sellers will add, but lower than before, to assure fill. This is what causes the oscillation of price, swinging between ever lower highs and ever higher lows (in theory). No one knows which way the breakout will be. But that is what can happen, and why.
For Sonikers, the thing to do is wait for the breakout of whichever SonicR setup, long or short. There is the trade. And if pice suddenly reverses, moves back thru the Dragon, and breaks the opposite setup, the Soniker trader must reverse thinking, too; close the trade (if not already stopped out) and re-enter the other way (if there is a valid SonicR setup in that direction also).
In the case of phi1ipp's example, it was clearly SonicR short all the way. Even when the price moved back up to SR there was no well defined L-H-HL wave pattern in that move for a potential SonicR long setup. Yes, there was a series of higher HLs moving up to SR, but this PA did not constitute well formed waves; the up/downs were too close and too choppy. For SonicR, the PA waves need to be well defined, the better are less choppy and with spaced out starts of all three legs, both vertically and horizontally. Good waves appear as actual waves, not just a wide band of PA moving up or down with a sequence of HLs in it.
(.....and NOW Han's post is excellent!
)
Regards,
-tah
Hi guys!
Since I've finished a couple of good deals I've been loosing pips every day. The problem is I'm confused with S&R levels and how they affect the deal.
One thing that might be help full for you and others to know is when price leaves an area which we might want to call support or resistance - traders place orders there for when price in most cases returns to test that area - which is where I put my point C, in my point ABC trading.
Therefore you will see the biggest response up/down move the first time price returns to the same area....
For example, consider the phase you used, "....as traders are no longer interested in using a level that has already been used."
That phrase makes absolutely no sense at all. Professional traders are not eccentric traders, simply avoiding a price area because it "has already been used". That notion is absurd! However, if you were to take the time to explain what is actually happening, that which you and ddaytrader understand is happening, but which your words do not convey, then.....then I would agree with ddaytrader, that the post would be excellent.
Please understand that when it comes to teaching, if you assume the student has a higher level of understanding than what actually exists, then the lesson will be a waste of time, because the words will be meaningless to the student. The words will sound like just a bunch of jibberish!
Now, if I understand correctly (and please do correct me if I am wrong about all of this), here is what is going on; information and explanation that your words did not convey.
At various price levels/areas there are stacked up orders to buy or sell. Let us use the example of phi1ipp's trade in proceeding. As price is moved down by sellers to such a level, they will encounter large buy orders. This will stop the drop. Buyers will add more buy orders, but at a higher price so they can be assured of getting them filled. And the price may move higher. Sellers add orders, and move the price back down a bit. Now we have a "war" between sellers and buyers. Buyers will add, but higher than before, to assure fill. Sellers will add, but lower than before, to assure fill. This is what causes the oscillation of price, swinging between ever lower highs and ever higher lows (in theory). No one knows which way the breakout will be. But that is what can happen, and why.
For Sonikers, the thing to do is wait for the breakout of whichever SonicR setup, long or short. There is the trade. And if pice suddenly reverses, moves back thru the Dragon, and breaks the opposite setup, the Soniker trader must reverse thinking, too; close the trade (if not already stopped out) and re-enter the other way (if there is a valid SonicR setup in that direction also).
In the case of phi1ipp's example, it was clearly SonicR short all the way. Even when the price moved back up to SR there was no well defined L-H-HL wave pattern in that move for a potential SonicR long setup. Yes, there was a series of higher HLs moving up to SR, but this PA did not constitute well formed waves; the up/downs were too close and too choppy. For SonicR, the PA waves need to be well defined, the better are less choppy and with spaced out starts of all three legs, both vertically and horizontally. Good waves appear as actual waves, not just a wide band of PA moving up or down with a sequence of HLs in it.
(.....and NOW Han's post is excellent!
)Regards,
-tah
- #26,260
- Sep 10, 2011 4:19pm Sep 10, 2011 4:19pm
TAH, thank you very much. I find your explanation very informative. And personally I found the reply to my unasked question. I witnessed so many situations when I thought I should go long but then suddenly the situation reversed and I realized that I had to go short. That was because of waves and all this Lows and Higs.
I was confused of that and didn't know if it's OK to change the position after you entered the trade. Now I see that even masters do it
Anyway I'll continue monitoring of the market and trading on demo account. I've noticed by the way that true setup is very clean and beautiful
Thanks to all of you, gentlemen, for what you're doing for newbies. I thought before that real profies don't share their secrets I realize I was wrong!
I was confused of that and didn't know if it's OK to change the position after you entered the trade. Now I see that even masters do it
Anyway I'll continue monitoring of the market and trading on demo account. I've noticed by the way that true setup is very clean and beautiful
Thanks to all of you, gentlemen, for what you're doing for newbies. I thought before that real profies don't share their secrets
I realize I was wrong!