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Intraday price action trend trading

  • #8,241
  • Sep 26, 2011 8:46am Sep 26, 2011 8:46am
Quoting jozone1
Welcome Simplicity, I wish you the best!!

So here goes, 1st I notice there are subtle differences in our charts the bars are different, like on your 3rd trade mine isn't an outside bar.
Thanks for your comment Joe. I think server time of each broker is different (different timing of open and close) -> different charts.

It's not a big problem. As long as you see the pattern in your chart, take it.

Happy trading!
  • #8,242
  • Sep 26, 2011 9:14am Sep 26, 2011 9:14am
see chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-09-26_2208.png Size: 63 KB
  • #8,243
  • Sep 26, 2011 9:15am Sep 26, 2011 9:15am
first one on cad.

i got in a lit late but already moved SL to +13...maybe it can still keep dropping...i will keep trailing my stop.
Attached Image (click to enlarge)
Click to Enlarge Name: cad26.jpg Size: 104 KB
  • #8,244
  • Sep 26, 2011 9:23am Sep 26, 2011 9:23am
builcity can u answer my 2 Q's:

1-do u ever take a trade in the middle of the bar or u always wait for a bar to close in order to get in the trade?

2-when do u use a trailing stop and when do u use a set profit target?
i often find myself using trailing stop instead of taking profit and sometimes i do ending up catching a nice bigger profit and sometimes i give some back to the market.
i guess what im trying to say is that im not sure if im being greedy by trailing my profits and if its better for the long term to just set a profit target.
i would love to hear ur opinion.


thank you very much for any comment.
  • #8,245
  • Sep 26, 2011 9:25am Sep 26, 2011 9:25am
wait a moment, EJ & GU are under close observation

Quoting elliotrader
builcity can u answer my 2 Q's:

1-do u ever take a trade in the middle of the bar or u always wait for a bar to close in order to get in the trade?

2-when do u use a trailing stop and when do u use a set profit target?
i often find myself using trailing stop instead of taking profit and sometimes i do ending up catching a nice bigger profit and sometimes i give some back to the market.
i guess what im trying to say is that im not sure if im being greedy by trailing my profits and if its better for the long term to just set a profit target.
i...
  • #8,246
  • Sep 26, 2011 9:28am Sep 26, 2011 9:28am
Quoting Buildcity
see chart
BIG green bar on EJ, be careful!!
  • #8,247
  • Sep 26, 2011 9:30am Sep 26, 2011 9:30am
Quoting Buildcity
wait a moment, EJ & GU are under close observation
no rush i will be here for the next 6 hours rofl:
  • #8,248
  • Sep 26, 2011 9:33am Sep 26, 2011 9:33am
my sl on the cad was hit .
result:+13.
  • #8,249
  • Sep 26, 2011 10:08am Sep 26, 2011 10:08am
1. I don't really wait for the bar closing for entry, cos my personality is much more on the aggressive side. But a bar closing entry is a more concrete play. Its a kind of give and take, whole sale price = aggressive play but small stop with bigger TP, vice versa.

2. Can't answer you this one, cos I have given up the trailing stop play for long long time. And always remind myself not too greedy, enough is enough (I mean up to my daily target), I can play more if A+++ setup presents to me, i.e. the more winning trades I have, the more conservative play should look for, don't go the other way round.

I really trust Sho's play could be fit in many personality. It all depends on yourself. While you play for longer time you should know what type of entry is the best for you!!

Hope this helps.

City

Quoting elliotrader
builcity can u answer my 2 Q's:

1-do u ever take a trade in the middle of the bar or u always wait for a bar to close in order to get in the trade?

2-when do u use a trailing stop and when do u use a set profit target?
i often find myself using trailing stop instead of taking profit and sometimes i do ending up catching a nice bigger profit and sometimes i give some back to the market.
i guess what im trying to say is that im not sure if im being greedy by trailing my profits and if its better for the long term to just set a profit target.
i...
  • #8,250
  • Sep 26, 2011 10:16am Sep 26, 2011 10:16am
Quoting Buildcity
BIG green bar on EJ, be careful!!
The upward force just didn't stop, could not fit in what's my expection, leave it, its late night for me now!! Only 2 small plays today

Bye
City
  • #8,251
  • Sep 26, 2011 10:26am Sep 26, 2011 10:26am
thank you city!!!appriciate ur time !
have a good one!!!hope to see u here w us tomorrow....

all the best!
  • #8,252
  • Edited 3:31am Sep 27, 2011 3:11am | Edited 3:31am
one lost, but 2nd one well pay off

1st trade while there was a green pin formed then entered in next bar, but immediate KO -18p

2nd trade, same position, entry again cos the big pin on 50r/n, H4 down trend and good on s/r, look for next down s/r (r/n). + 42P
ps- moved SL to +1 when there was 20p in hand, but look for more

Basically the consideration for 2 trades are the same.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ M15 20110927-1.jpg Size: 57 KB
Click to Enlarge Name: EJ - H4 20110927.jpg Size: 57 KB
  • #8,253
  • Sep 27, 2011 11:10am Sep 27, 2011 11:10am
3rd trade today, top down play after the end of Euro session.

Good night all
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-09-28_0003.png Size: 31 KB
  • #8,254
  • Edited Sep 28, 2011 2:37am Sep 27, 2011 3:29pm | Edited Sep 28, 2011 2:37am
Quoting Buildcity
wait a moment, EJ & GU are under close observation
Hi Eric!!
it's really nice to see you here again!!!
i hope we'll make it 1000 pages together
  • #8,255
  • Sep 27, 2011 8:16pm Sep 27, 2011 8:16pm
Keep going man, these days feel better so I can stay bit more with those charts. Still few trades a day only, mini gain = mini loss

Quoting Gravi
Hi Eric!!
it's really nice to see you here again!!!
i hope we'll made it 1000 pages together
  • #8,256
  • Sep 28, 2011 2:43am Sep 28, 2011 2:43am
good start for the day!!

EJ M15~ 1st and 2nd trade entered together as good starting point of upward trend. Closed 1st trade at immediate resistance level and tried to let the 2nd one goes further. SL moved to BE+, but a bar later seems the 1st upward force be slow down so quit without hesitation

Caught 37p altogether.

Edit ~ add H4 chart for better understanding
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20110928-1535.jpg Size: 62 KB
Click to Enlarge Name: 20110928-1545.jpg Size: 60 KB
  • #8,257
  • Sep 28, 2011 4:16am Sep 28, 2011 4:16am
No bother, caught the 2nd implusive move, sharp cut at last HH. Today is enough
Attached Image (click to enlarge)
Click to Enlarge Name: 20110928-1708.jpg Size: 59 KB
  • #8,258
  • Sep 28, 2011 8:01am Sep 28, 2011 8:01am
Hi all,

I'm newbie and just finished sho's first thread .Thank you sho, city and all for sharing their method, knowledge ,experience to us . I'm going to start a demo trade and will share result with you guys.
  • #8,259
  • Sep 28, 2011 8:21am Sep 28, 2011 8:21am
Quoting Buildcity
No bother, caught the 2nd implusive move, sharp cut at last HH. Today is enough
hi city!!!!

great job as always....
if u dont mind would u pls explain to me ur entry on this trade.
were u not scaired to place a long after this big red candle?i believe u entered at the next green bar and price went below it right after..were was ur SL?

thank you for any comment as im trying to get better and maybe one day become like u....

have a great one city!!!!!
  • #8,260
  • Sep 28, 2011 8:52am Sep 28, 2011 8:52am
Quoting Buildcity
No bother, caught the 2nd implusive move, sharp cut at last HH. Today is enough
I wonder where is your SL? If I had taken this trade, it would be a losing trade.

Regards,

http://img695.imageshack.us/img695/3...1109281708.jpg
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