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Price Trap Eur/Usd 1 MIN

  • #81
  • Sep 23, 2011 12:00pm Sep 23, 2011 12:00pm
Well thought, well explained, well illustrated system and a very nice topic-starter too!

raz, you're the man! You've made my day! And my weekend too!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #82
  • Edited 12:03pm Sep 23, 2011 12:02pm | Edited 12:03pm
Quoting Favorite
Well thoght, well explained, well illustrated system and a very nice topic-starter too!

raz, you're the man! You've made my day! And my weekend too!

glad to here. I am here help.... as so many have helped before. I am a self taught trader through many trials and errors. However it looked real good last night and this morning. So it will be interesting to see how it goes next week. Take the good with the bad
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  • #83
  • Sep 23, 2011 12:03pm Sep 23, 2011 12:03pm
Quoting Sevenskies
Right now I am in my office, I got to go now but I will let you in details about me, I hope you will not mind. Anyway thanks for reply, take care,

sevenskies

I never will mind. So feel free to ask anytime
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  • #84
  • Sep 23, 2011 1:03pm Sep 23, 2011 1:03pm
Everybody loves the thread but so far I'm the only one who rated it. Come on, guys!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #85
  • Sep 23, 2011 6:55pm Sep 23, 2011 6:55pm
Thank you Raz, you made my days. I'm a new a "poster" on FF as you can see, but have been religiously reading every thread I could think of on FF to find a methodology that is as SIMPLE as possible. Am not a newbie on trading and got burnt alot of times. This is the first time I came across such a simple method. Am still trying it on demo and it has worked well. I understand there's no Holy Grail in fx, that's normal. I'm grateful that you post yr Excel calculator on this thread as I can't pm you.

One last question, anybody can tell me?... can I rate this thread, as I am still a new "poster"? If so, how do I go about it? If I can't, then Raz and Raz followers, know that I'd love to give it a 5 stars! You deserve it Raz! Thank you.
  • #86
  • Sep 23, 2011 9:16pm Sep 23, 2011 9:16pm
Quoting Favorite
Everybody loves the thread but so far I'm the only one who rated it. Come on, guys!

I got back from my work today. I thank you for your support. As time goes on this method will get easier to adapt too. I try to answer all post that I can. As for right now I would say that if I have not, please feel free to post or pm me and I will do my best to answer all.
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  • #87
  • Sep 24, 2011 6:21am Sep 24, 2011 6:21am
I'll start testing the system this Sunday night. Thank you, raz!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #88
  • Sep 24, 2011 7:19am Sep 24, 2011 7:19am
Hi Raz! Thx for this Great Job!!!

Can't wait until tomorrow night to start testing...

You state to wait the price to go back to the entry point and i think its the right way to enter... Are you:

1) Entering with a Limit Order when the price touches your entry line?, or

2) Do you wait the price to "re-enter" into the trap and then you enter the trade with a Stop order?

Thx Again!
  • #89
  • Sep 24, 2011 11:53am Sep 24, 2011 11:53am
Quoting UllenSentalu
One last question, anybody can tell me?... can I rate this thread, as I am still a new "poster"? If so, how do I go about it?
UllenSentalu, I don't know whether the junior members have the right to vote, you have to try.

When you look at the right upper corner of the page, right below the pages' numbers (1,2,3,4,5,6) you see the word "Rating" and 5 small yellow "stars". Click on it and you'll see the list of options (from 5 stars to one) - choose five stars and click on the button "Vote now"
Gentlemen always play by the rules. If they can't, they change the rules.
  • #90
  • Sep 24, 2011 2:36pm Sep 24, 2011 2:36pm
Quoting Favorite
UllenSentalu, I don't know whether the junior members have the right to vote, you have to try.

When you look at the right upper corner of the page, right below the pages' numbers (1,2,3,4,5,6) you see the word "Rating" and 5 small yellow "stars". Click on it and you'll see the list of options (from 5 stars to one) - choose five stars and click on the button "Vote now"
Thanks Fav. It doesn't work. Guess, I need more postings to be able to do so., I guess. Raz, know this... I'm very grateful for your efforts! Merci!
  • #91
  • Sep 24, 2011 9:49pm Sep 24, 2011 9:49pm
Quoting Enzo Damario
Hi Raz! Thx for this Great Job!!!

Can't wait until tomorrow night to start testing...

You state to wait the price to go back to the entry point and i think its the right way to enter... Are you:

1) Entering with a Limit Order when the price touches your entry line?, or

2) Do you wait the price to "re-enter" into the trap and then you enter the trade with a Stop order?

Thx Again!

You can chance the price to go further back behind the entry point, to gain extra pips. But however I enter manually when I see the price come back and touch the entry point line. I never chance it because sometimes it will take off and goto to take profit and miss out my chance to gain on the trade. You can set a limit order, but I just do it manually.

Think about this for example. I am always going to risk 2% per trade at the most. So if I was in an example like this

We are going long and price is coming back to entry point, and let's say
upper level is 1.3460
lower level is 1.3450

Therefore by my rules the entry point to go long is 1.3460 and

stop loss is 1.3450 -2%
take profit is 1.3483 +4.6%

If price shoots back and I enter in at 1.3456. Still my entries are as

Stop Loss 1.3450
Take Profit 1.3483

So in theory I am risking
stop loss risking -1.2%
take profit is +5.4%.

So yes getting behind the entry point is a bonus in two ways, less risk and more gain. Risky but if you feel price is going to goto center of trap then hit it up there.
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  • #92
  • Sep 25, 2011 5:42am Sep 25, 2011 5:42am
to raz, I thank on relative honesty give knowledge that is useful to all of us
BMW 7 series
  • #93
  • Sep 25, 2011 5:52am Sep 25, 2011 5:52am
This seems similar to bollinger break out?
  • #94
  • Sep 25, 2011 3:45pm Sep 25, 2011 3:45pm
In one and a half hour I made 38.7 pips.

Since it was the "slow" Australian session, I exited the first time manually, when I saw that the trend is over and got 18.7 pips. And the second time I set a small TP 20 pips and it got hit, and, of course, the price went much further, it would hit the right-according-to-the-author TP...

Of course during London/NY I will set the TP exactly like raz says.

EURUSD sell at 00:33 1.35107 closed at 01:12 1.34920 Profit +18.7 pips
EURUSD buy at 01:22 1.35042 closed at 01:35 1.35242 Profit +20.0 pips
Gentlemen always play by the rules. If they can't, they change the rules.
  • #95
  • Sep 25, 2011 5:33pm Sep 25, 2011 5:33pm
Hi Raz....Do you just use the body of the candles to form the perameters of the consolidation band?

T
  • #96
  • Edited 11:40pm Sep 25, 2011 6:34pm | Edited 11:40pm
Hey RAZ.

Please tell me if is this setup ok.

Edit: get long 3424, stop 3409, target 3457, trap 15 pips

Regards
PH
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  • #97
  • Sep 25, 2011 8:30pm Sep 25, 2011 8:30pm
Quoting Favorite
In one and a half hour I made 38.7 pips.

Since it was the "slow" Australian session, I exited the first time manually, when I saw that the trend is over and got 18.7 pips. And the second time I set a small TP 20 pips and it got hit, and, of course, the price went much further, it would hit the right-according-to-the-author TP...

Of course during London/NY I will set the TP exactly like raz says.

EURUSD sell at 00:33 1.35107 closed at 01:12 1.34920 Profit +18.7 pips
EURUSD buy at 01:22 1.35042 closed at 01:35 1.35242 Profit +20.0...
Maybe it was a very good evening, maybe just "beginner's luck" , but altogether I made 82 pips.I think I'd better stop and take a good breath because I got too excited!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #98
  • Sep 25, 2011 9:58pm Sep 25, 2011 9:58pm
Quoting oconnor365
Hi Raz....Do you just use the body of the candles to form the perameters of the consolidation band?

T

What I am looking for to set my upper and lower levels is price rejection, you need to see where price travels at it's further point whether it be a pin needle or even a full candle bar, and then it quickly rejects against it. If you read back into the earleir post I show picture demonstrations on price rejection, and giving that 'V' like move with in the trap
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  • #99
  • Sep 25, 2011 10:02pm Sep 25, 2011 10:02pm
Quoting phneutral
Hey RAZ.

Please tell me if is this setup ok.

Regards
PH

Hmm lil tough to say, but I see that price does settle well in the trap, however i can't tell how wide your trap is? It does reject well from the bottom level, but it does looks valid to me. Where did you enter long at?
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  • #100
  • Sep 25, 2011 10:03pm Sep 25, 2011 10:03pm
Quoting Favorite
Maybe it was a very good evening, maybe just "beginner's luck" , but altogether I made 82 pips.I think I'd better stop and take a good breath because I got too excited!

GJ, made some money during the asian session nice!
Trade Like a Robot make money Like a Bank
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