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Intraday price action trend trading

  • #8,181
  • Sep 14, 2011 9:11am Sep 14, 2011 9:11am
took +25 pips.
since i don't like PA too much its better if i scalp and take as many pips as i can instead of trying to catch a big move.
  • #8,182
  • Sep 14, 2011 9:15am Sep 14, 2011 9:15am
1 hr chart
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  • #8,183
  • Sep 14, 2011 9:25am Sep 14, 2011 9:25am
u must be kiddin me!!!!!!!!!!
a second after im out it tank 50-60 pips!!!...
oh well..im happy w what i got i guess ...
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  • #8,184
  • Sep 15, 2011 3:49am Sep 15, 2011 3:49am
Would either of these trades be legit after the close of the highlighted arrow bar? Just wondering if thats too agressive.
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  • #8,185
  • Sep 15, 2011 4:15am Sep 15, 2011 4:15am
Again not sure if this is legit getting long this PB after a shooting star. Looks like consolidation on both sides. I think sit back and wait for better set ups.
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  • #8,186
  • Sep 15, 2011 4:29am Sep 15, 2011 4:29am
I was thinking this was a better set up with the fib retrace. Got long and stopped out for a small loss. Maybe its a total miss read on my part and momentum has changed direction after the news out.
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  • #8,187
  • Sep 15, 2011 4:41am Sep 15, 2011 4:41am
Got long again after this bars close (middle arrow) on the open of this bar. Got my loss back and then some(target was mid kelt line). I still felt the overall trend was up but again it could have been a total mis read and I got lucky. I know I'm in demo mode but it sure feels real!!
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  • #8,188
  • Sep 15, 2011 4:49am Sep 15, 2011 4:49am
As I was fixated on EURGBP I missed this better setup. Have to train the eyes better.
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  • #8,189
  • Sep 15, 2011 5:09am Sep 15, 2011 5:09am
Inside PB with a lot of tops and wedge. Might break out to the upside. I'm thinking agressive buy on breakout or wait for breakout and buy the pullback?
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  • #8,190
  • Sep 15, 2011 8:52am Sep 15, 2011 8:52am
I am finally here... at least i think so
need some time for tuning up (reading your posts here e.t.c.)..
i had a long trip so i need some concentration for trading
  • #8,191
  • Sep 15, 2011 9:04am Sep 15, 2011 9:04am
welcome back Gravi!!!

looking forward to hear ur words of wisdom...

take care!!!
  • #8,192
  • Sep 16, 2011 4:37pm Sep 16, 2011 4:37pm
Close of 2nd week of "Shos' price action method" for me. Ended up a little on the week. Much better than last week ( lot of operator error -- ha ). So much still to learn and relearn. I think this method is excellent, just have to learn patience and wait for set ups, umm momentum, price action, S/D , R/N to name a few.

Many changes so far, I started out with 12 pairs watching 5M and 15M, 5 was too fast (which is amazing for me to say because I used to watch subminute tic charts) and 12 pairs was too much also. So I dropped down to 6 and I think that is even too much so I'm planning to whittle it down to 4. I want to try and have a trade matrix open --- I'm hoping that might help spot momentum easier.

Still in the beginning of the learning curve so thanks for bearing with me and thanks for all the help and advise these past 2 weeks. I'm very encouraged!!! I hope you all have a great weekend. Joe
  • #8,193
  • Sep 17, 2011 2:54pm Sep 17, 2011 2:54pm
Hi Jozone. For this method we mainly trade inside bar breakouts and pin bars which are expained in the thread. Google has lots of info too. Candle chart patterns may be worth reading about a little. Steve Nison's stuff is where it's at for that. Copys of his book are floating around online too.

I have recently started looking into supply and demand more and it has completely changed the way I trade this method. It really helps you pin point reversal points, so you can then trade shos trend following method between the two points. Check out http://www.forexfactory.com/showthread.php?t=230888 for a good S/D thread. Here is a nice summary of the thread. https://sites.google.com/site/rtp505...-vol-1/page-04
  • #8,194
  • Edited 5:45am Sep 18, 2011 4:29am | Edited 5:45am
Quoting Shyguy356
Hi Jozone. For this method we mainly trade inside bar breakouts and pin bars which are expained in the thread. Google has lots of info too. Candle chart patterns may be worth reading about a little. Steve Nison's stuff is where it's at for that. Copys of his book are floating around online too.

I have recently started looking into supply and demand more and it has completely changed the way I trade this method. It really helps you pin point reversal points, so you can then trade shos trend following method between the two points. Check out http://www.forexfactory.com/showthread.php?t=230888...
Thanks ShyGuy, you're right, I've read and studied a lot, problem is not much sinks in. But school is not out yet and I still have much to learn.
So back to the education thread for me ( and the sites you suggested).

Enjoy the rest of your weekend.
  • #8,195
  • Sep 18, 2011 1:02pm Sep 18, 2011 1:02pm
You have to write it down when your studying. Keep a binder full of notes so you can have them out when you trade. Or take notes on computer and print them.

A study done at the University of Texas found that people remember (Metcalf 1997)

10 percent of what they read;
20 percent of what they hear;
30 percent of what they see;
50 percent of what they see and hear;
70 percent of what they say;
90 percent of what they do and say
  • #8,196
  • Sep 19, 2011 3:44am Sep 19, 2011 3:44am
Operator error on my part. I just woke up and saw the 1st red PB and jumped in without studying the chart. I got stopped out for 10 pip. It retraced to the 50% fib of the current impulse and momentum came in so I jumped back in feeling that I was on the right side made the 10 pips back ( +1 ). But after further review (3rd chart) so close to supply and RN and the open gap level.
I should have looked at charts 1st and i probably wouldn't/shouldn't have taken that trade.

Anyone trading London or am I here too early?

Edit: the 2nd trade was good for 2:1 RR ( my goal is 1:1 this week for demo practice) but it hit the R/N and came close to supply and stopped on a dime.
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  • #8,197
  • Sep 19, 2011 4:18am Sep 19, 2011 4:18am
Quoting Shyguy356

I have recently started looking into supply and demand more and it has completely changed the way I trade this method. It really helps you pin point reversal points, so you can then trade shos trend following method between the two points. Check out http://www.forexfactory.com/showthread.php?t=230888 for a good S/D thread. Here is a nice summary of the thread. https://sites.google.com/site/rtp505...-vol-1/page-04
I think I should follow in your footsteps and start looking into supply and demand more( it is on the to do list -- really it is). Stop the forest from the trees so to speak. This is the follow up from EU the S/D trade was good for 60 pips and counting.
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  • #8,198
  • Sep 19, 2011 5:18am Sep 19, 2011 5:18am
i have just started to follow this trading method , my couple of days trading on this method was really amazing , but today is going my bad day , all my stops are being hit , i am trading on 5 mins chart , any body else trading on 5 mins ? and how effective it is today?

Quoting jozone1
I think I should follow in your footsteps and start looking into supply and demand more( it is on the to do list -- really it is). Stop the forest from the trees so to speak. This is the follow up from EU the S/D trade was good for 60 pips and counting.
Tough Times Never Last But Tough People Do
  • #8,199
  • Sep 19, 2011 8:20am Sep 19, 2011 8:20am
Quoting loog12us
i have just started to follow this trading method , my couple of days trading on this method was really amazing , but today is going my bad day , all my stops are being hit , i am trading on 5 mins chart , any body else trading on 5 mins ? and how effective it is today?
Welcome!! I wish you the best!! I am pretty new here so I am still trying to find my way and preferences. I have been using the 15 min and it is all explained on the education thread here. http://www.forexfactory.com/showthread.php?t=217281 I had tried the 5 min initially and it was too much for me to follow so I would get turned around and confused easily. Not to say thats it not a valid timeframe just diddn't work out for me (yet).


If you would be willing to post your trades there are wonderful generous people here that are willing to help. This way we all learn together. Joe
  • #8,200
  • Sep 19, 2011 11:04am Sep 19, 2011 11:04am
Hi mate,

I've been quite some months not in Sho's thread so I may not have updated info from Sho's posts.

But what I really trust is Sho's method is really work on M15 for intraday trading, that's what Sho specified quite many times. For M5 trading with KC, you would find yourself just busy round with MA10's up and down.

For Sho's videos recently, if I'm not wrong, he just wanted to demostrate how he read the price actions with faster charts, but not to tell us using the M5 chart for trading (Sho will kill me if I'm wrong).

Well, may be M5 with Sho's method just didnt work for me.

Hope you find your way

Trade safe.
City

Quoting loog12us
i have just started to follow this trading method , my couple of days trading on this method was really amazing , but today is going my bad day , all my stops are being hit , i am trading on 5 mins chart , any body else trading on 5 mins ? and how effective it is today?
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