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Price action momentum trading

  • #161
  • Sep 6, 2011 11:11am Sep 6, 2011 11:11am
I hope all had a good day for it was a very large range day and very unusual to see the eu move like that. I took a 120 pips out the market this morning and felt great about it! went to bed thinking that that was it for the day. But to my surprise price ended up shooting back down and I didn't get in for the ride, hope those that missed the up move caught the down move, caus eit was sweeeeeT! I am attaching a pic of my chart and where I got in this morning. Hope it helps those that are not seeing the momentum bars clearly. This has got to be the purest form of price action and its easy to see it, no complicated indicators and discretionary entries. when you see a small bar and then you see that 13 and above range candles you know either selling or buying is going to occur. Man its sweet. Thank you survivor, for you have shown me the way and I have seen the market entirely different, its clearer now. One not need to try and predict where price is heading by looking at pass movements but look at the now. Volume bars tells you pretty much whats going to happen and it works more times than not from what i see by just looking at the charts. Its amazing.
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  • #162
  • Sep 7, 2011 11:00am Sep 7, 2011 11:00am
Actually these are my first two such trades. I knew Survivor advises against G/U for newbies but since I've been dancing I focused on Cable only I didn't want to confuse myself (my charts only has the G/U pair). I didn't find anything worth dancing since NY open, so I tried a couple of trades using Survivor's method:

1) First M15 candle after NY open. I got stopped out (SL is 10 pips). Hinder sight says I should look at M5 where the last one third of the M15 was in indecision. Another thing is if I had looked at M5 for entry I would've entered a little early but I would've worried about the RN (1.6000) in that case.

2) Second trade: I only looked at M5 where a large red candle failed to break the RN 1.6000 but it broke the three dance MA's (10EMA, 35SMA & 50EMA). I guess this is against Survivor's rules since he doesn't look at MA's or RN's? Also it ain't a legitimate momentum candle although it's large. Pocketed 10 pips.

Any comment/criticism is welcome. Thank you.
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  • #163
  • Sep 7, 2011 11:05am Sep 7, 2011 11:05am
Quoting screenname
Actually these are my first two such trades. I knew Survivor advises against G/U for newbies but since I've been dancing I focused on Cable only I didn't want to confuse myself (my charts only has the G/U pair). I didn't find anything worth dancing since NY open, so I tried a couple of trades using Survivor's method:

1) First M15 candle after NY open. I got stopped out (SL is 10 pips). Hinder sight says I should look at M5 where the last one third of the M15 was in indecision. Another thing is if I had looked at M5 for entry I would've entered...

HEY THOSE 15 MINUTE CANDLE ENTRIES WERE GOOD, i TOOK THEM AS WELL AND YOU WOULD HAVE MADE MONEY. LOOK AT THE GB NOW. i ALWAYS SET 30 PIP STOPS. I made some money on those.
  • #164
  • Sep 7, 2011 12:17pm Sep 7, 2011 12:17pm
Quoting screenname
Actually these are my first two such trades. I knew Survivor advises against G/U for newbies but since I've been dancing I focused on Cable only I didn't want to confuse myself (my charts only has the G/U pair). I didn't find anything worth dancing since NY open, so I tried a couple of trades using Survivor's method:

1) First M15 candle after NY open. I got stopped out (SL is 10 pips). Hinder sight says I should look at M5 where the last one third of the M15 was in indecision. Another thing is if I had looked at M5 for entry I would've entered...

I lost money on them too. I dont put 30 pip sl like dappa but i should explore larger sl. Anyway, it was a rangy day. Hope things dont get worse from here.
Making money is easy- Just dont take losing trades
  • #165
  • Sep 8, 2011 5:45am Sep 8, 2011 5:45am
Possible correct entry after break of this low?
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  • #166
  • Sep 8, 2011 6:23am Sep 8, 2011 6:23am
Quoting messiahua
Possible correct entry after break of this low?
Messiahua, only my thought. Survivor will say you his point of view
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I hear and I forget. I see and I remember. I do and I understand.
  • #167
  • Edited 6:50am Sep 8, 2011 6:29am | Edited 6:50am
Quoting boubafx
Messiahua, only my thought. Survivor will say you his point of view
Yep, probably you're right. On my chart there are no green bars and I didn't know what would happen, anyways time will tell.
  • #168
  • Sep 19, 2011 8:57am Sep 19, 2011 8:57am
My first successful trade today:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 92 KB


I've entered manually a bit late (PO works best for this method), but anyways got 18 pips. Entered also on GU, but unfortunately my SL was hit because I keep it tight.
  • #169
  • Sep 19, 2011 12:24pm Sep 19, 2011 12:24pm
Quoting messiahua
My first successful trade today:
Attachment

I've entered manually a bit late (PO works best for this method), but anyways got 18 pips. Entered also on GU, but unfortunately my SL was hit because I keep it tight.
Thanks messiahua. I was losing interest here because it seems no one was interested about this method. Nice to see that you are getting it right. Check out todays 15M chart. there were perfect trades especially in usdcad.
Making money is easy- Just dont take losing trades
  • #170
  • Sep 19, 2011 2:35pm Sep 19, 2011 2:35pm
Please do not say you are loosing interest. Your method of explaining the trades has been an eye opener.

I have been watching so many trades everyday, simply based on your method of trading.

Just sometimes, I see a u-turn, but mostly your method of pointing a trade by simple price action is AWESOME !!


Quoting Survivor
Thanks messiahua. I was losing interest here because it seems no one was interested about this method. Nice to see that you are getting it right. Check out todays 15M chart. there were perfect trades especially in usdcad.
If you want your dreams to come true, you better wake up !!!
  • #171
  • Sep 19, 2011 3:28pm Sep 19, 2011 3:28pm
I follow this thread from the beginnning but cuz of my poor english, i dont understand the rules!

Too many metaphoric for my english skill sorry could you explain better????
  • #172
  • Sep 19, 2011 5:20pm Sep 19, 2011 5:20pm
Just a quick line... been lurking around FF for about 2 years but never joined.
I've been following your thread with great interest and indeed having very good results . As a result of your last posting I felt I had to join up to implore you to keep going with this thread as I ( and no doubt many other members ) have found your contributions invaluable and always look forward to your postings... I have no doubt that this thread will gather many more lurkers and will grow in time....KEEP GOING BRO.....( now I'll have to learn to post charts .lol)

T
  • #173
  • Sep 19, 2011 5:40pm Sep 19, 2011 5:40pm
HEy survivor, your teaching is awesome man. I have learned price action through this thread, most usefull information I have learned since i started studying forex about two years ago.
  • #174
  • Sep 19, 2011 6:13pm Sep 19, 2011 6:13pm
Quoting messiahua
My first successful trade today:
Attachment

I've entered manually a bit late (PO works best for this method), but anyways got 18 pips. Entered also on GU, but unfortunately my SL was hit because I keep it tight.


Hey what moving averages are you useing on th e15 minute chart
  • #175
  • Sep 19, 2011 9:22pm Sep 19, 2011 9:22pm
Quoting sashadeol
Please do not say you are loosing interest. Your method of explaining the trades has been an eye opener.

I have been watching so many trades everyday, simply based on your method of trading.

Just sometimes, I see a u-turn, but mostly your method of pointing a trade by simple price action is AWESOME !!
I second sashadeol. Please do not lose interest just because it has not become one of the hottest topics -- yet.

Doc, you know how I found your thread? I started reading the TOC file from CHOROS thread in late August when I kept seeing the names of you and a few other active Dancers. One day I wanted to know how you guys are doing now, so I clicked your name and arrived here. Now I have your thread and the two CHOROS threads in a bookmark folder in my firefox browser and every morning I open all three threads from that folder. I also tried your method based on very shallow understanding of mine and placed six trades in the beginning of September (I believe I posted a few here). The results were mixed.

Everybody has his own way of teaching, but maybe you can borrow some ideas from Clay. I've been reading his original dance thread since last weekend. He gave a lot of examples, either live or via simulator, and very detailed explanation. I'm sure if you do something similar people will get inspired and start asking a lot more questions and make this thread more active. I personally find your method very interesting but since I'm a complete newbie I don't think I understand your approach very well. I'm sure there are other people like me who need your guidance badly. So, please, more examples and more posts will be here.

Best luck,

scr
  • #176
  • Sep 20, 2011 3:25am Sep 20, 2011 3:25am
Quoting Survivor
Thanks messiahua. I was losing interest here because it seems no one was interested about this method. Nice to see that you are getting it right. Check out todays 15M chart. there were perfect trades especially in usdcad.
All thanks goes to you for creating this thread and sharing your trading method. Unfortunately I rarely post, not as often as I would like. Anyways I'm interested in this thread not less then in choros and I guess I'm not alone, because of all those posts above

Quoting dappa
Hey what moving averages are you using on th e15 minute chart
That's basic dance/choros: 10 EMA, 35 SMA, 50 EMA. Dotted are H1 analogues: 140 SMA, 200 EMA. But I use them only with choros, I try to trade both this methods. Choros gives early entries, Survivor's gives late entries
  • #177
  • Edited 4:35am Sep 20, 2011 4:21am | Edited 4:35am
Currently i'm in this one:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 109 KB


Hope I'm right, there is a probability that PPA will hold the price.

Edit: worked only for 8 pips and retraced, closed at -2 pips..
Edit2: so good rejection with pin bar, I should've entered long
  • #178
  • Sep 20, 2011 6:36pm Sep 20, 2011 6:36pm
Messiahua, I am not an expert on Survivor's method so I will only tell you what I see. You went short right on a support line - I added it to your pic. Price bounced right off that support TL and went up. I'm not saying I would have taken that trade long but some would.

I do this kind of thing way too much so don't feel bad. While I think I'm being safe and waiting for confirmation, I'm really missing the trade. By the time I get in it's just in time to start the retrace!

Hope that helps!
AF
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Luck occurs when preparation meets with opportunity.
  • #179
  • Sep 20, 2011 6:47pm Sep 20, 2011 6:47pm
Quoting Survivor
I was losing interest here because it seems no one was interested about this method....
Please don't get disinterested. I am really enjoying the thread. I don't post my charts because, as I point out before, I am using indi's to assist me so I'm not a PA purist.

You should be assured that your efforts are appreciated.

T
  • #180
  • Sep 21, 2011 1:54am Sep 21, 2011 1:54am
Quoting AlienFrog
Messiahua, I am not an expert on Survivor's method so I will only tell you what I see. You went short right on a support line - I added it to your pic. Price bounced right off that support TL and went up.
Yep, I agree, need to avoid such areas in future. Thanks for comment.
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