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Price Trap Eur/Usd 1 MIN

  • #141
  • Sep 26, 2011 7:48am Sep 26, 2011 7:48am
I thought in was a mini trap, but is it is actually a valid setup according to Raz' system. I would have taken it for small profit, but did not (my 1hr TF hasnt confirmed it...my system).

We need Raz' input on this one.

Quoting lefteye
Hi Raz & friends,
Pls commend if this is a valid setup?
The 'V' may not look ideal....
If the setup is valid, any concern being hovering above round no. 1.3500

TQ
Attached Image
  • #142
  • Sep 26, 2011 8:23am Sep 26, 2011 8:23am
Quoting lefteye
Hi Raz & friends,
Pls commend if this is a valid setup?
The 'V' may not look ideal....
If the setup is valid, any concern being hovering above round no. 1.3500

TQ

definetly, valid, and and a good close to go south.
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  • #143
  • Sep 26, 2011 8:24am Sep 26, 2011 8:24am
If would have hit our target
Quoting forexforex
I thought in was a mini trap, but is it is actually a valid setup according to Raz' system. I would have taken it for small profit, but did not (my 1hr TF hasnt confirmed it...my system).

We need Raz' input on this one.
  • #144
  • Sep 26, 2011 8:24am Sep 26, 2011 8:24am
Well typical Monday's, are a little slower then usual but it did hit my TP. So can't complain
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  • #145
  • Sep 26, 2011 8:27am Sep 26, 2011 8:27am
Quoting forexforex
If would have hit our target

Well according to the entries, yes I see price is sitting at 1.3470. So yes it would have hit take profit if you had shorted it. Sorry a little tired right now just woke back up.
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  • #146
  • Sep 26, 2011 8:27am Sep 26, 2011 8:27am
It would take my a while to fully gain confidence in your trap setup, Raz. It just that I have been incorporating the 1min with the 1Hr so many months, and my mind has been programmed to do so.

Quoting forexforex
If would have hit our target
  • #147
  • Sep 26, 2011 8:29am Sep 26, 2011 8:29am
Quoting Favorite
I took the same trade, and set the same TP, but got nervous and got out manually with 38 pips. I wish I could be that calm and cool as you, raz!

it's ok. It just takes a little time getting used to it. But gj
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  • #148
  • Sep 26, 2011 8:30am Sep 26, 2011 8:30am
Quoting phneutral
Great! pips taken although my poor entry at 3447

Regards
PH

Excellent, I know last night we were a little worried about where you got in, but happy to see it worked out for you!
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  • #149
  • Sep 26, 2011 8:31am Sep 26, 2011 8:31am
Quoting forexforex
It would take my a while to fully gain confidence in your trap setup, Raz. It just that I have been incorporating the 1min with the 1Hr so many months, and my mind has been programmed to do so.

fullly understand that
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  • #150
  • Sep 26, 2011 8:47am Sep 26, 2011 8:47am
Quoting forexforex
I thought in was a mini trap, but is it is actually a valid setup according to Raz' system. I would have taken it for small profit, but did not (my 1hr TF hasnt confirmed it...my system).

We need Raz' input on this one.
hey I like the look of your lots calc ,is tht on excel ,thanks
  • #151
  • Sep 26, 2011 8:52am Sep 26, 2011 8:52am
I just added that excel calc to my first post. So if you want it go ahead and dl from there.
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  • #152
  • Sep 26, 2011 9:16am Sep 26, 2011 9:16am
Contact Raz...he would email you the spreadsheet calc.

Quoting Spacetec
hey I like the look of your lots calc ,is tht on excel ,thanks
  • #153
  • Sep 26, 2011 9:21am Sep 26, 2011 9:21am
Hi Raz
Just a quick question if I may, lets say we are in a trade as a result of a breakout from a price trap, but before price hits our target another price trap occurs, do we ignore it or do we add another trade giving us 2 open positions.? Hope this makes sense.

Regards
Geoff
  • #154
  • Sep 26, 2011 9:27am Sep 26, 2011 9:27am
I usually add more and if it goes the other way from my first entry, I exit all. This is a good question for Raz.

Quoting GEOFFREY62
Hi Raz
Just a quick question if I may, lets say we are in a trade as a result of a breakout from a price trap, but before price hits our target another price trap occurs, do we ignore it or do we add another trade giving us 2 open positions.? Hope this makes sense.

Regards
Geoff
  • #155
  • Sep 26, 2011 10:13am Sep 26, 2011 10:13am
Currently trade I am in: Long
I call it mini trap (if you don't mind)
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  • #156
  • Sep 26, 2011 10:18am Sep 26, 2011 10:18am
Looking at the rule though: "Second thing to keep in mind is that the price levels, or what I call the price trap has to be a minimum of 9 pips to 23 pips wide."

Raz, If that is the case, then it should be a valid trap according to your system??



Quoting forexforex
Currently trade I am in: Long
I call it mini trap (if you don't mind)
  • #157
  • Sep 26, 2011 10:27am Sep 26, 2011 10:27am
My entry was 1.3489.
Target hit @ 1.3517 and out for 28 pips profit
My runner is still going.
  • #158
  • Sep 26, 2011 10:29am Sep 26, 2011 10:29am
Quoting forexforex
My entry was 1.3489.
Target hit @ 1.3517 and out for 28 pips profit
My runner is still going.

GJ! I am at my work comp, so I have no access to my charts. However good to see that you are making it work, and adapting what works best for you
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  • #159
  • Sep 26, 2011 10:37am Sep 26, 2011 10:37am
Quoting GEOFFREY62
Hi Raz
Just a quick question if I may, lets say we are in a trade as a result of a breakout from a price trap, but before price hits our target another price trap occurs, do we ignore it or do we add another trade giving us 2 open positions.? Hope this makes sense.

Regards
Geoff

I knew at one point someone would ask this. I have seen many times where I set a trap, and get a confirmed closed.

Two things will happen if another trap is created either it will be in the same direction of the current position, so what do I do then? Do I add more to my trade, and set my new SL and further out my new TP?

The Second thing that happens is that a new traps forms and actually closes against the direction of my current position. So do I close it out with a small profit/short loss and go for the opposite direction?

Well two answer both; I would have to say I have seen this many times in my backtest and forward testing, and I have learned that it is about 50/50. Sometimes it works, sometimes it costs. I personally don't like to take a ton trades in one night, 4 to 5 would be ever be the most. I like to keep it simple and grab what I originally targeted for. From my own experience is that daily swings aren't forever, so once you are in a trade then go for what you originally set out to do even if it closes against you.

I have toyed with it some many times that it a lot of cases my biggest causes of loss or giving up easy profit is because I am either hesistating my intial decision or I am trying to gain too much.

That is why I try to keep it short and sweet and grab my money fast.
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  • #160
  • Sep 26, 2011 10:38am Sep 26, 2011 10:38am
By the way Forexforex, is this a live account or demo?
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