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Price Trap Eur/Usd 1 MIN

  • #201
  • Sep 27, 2011 1:11am Sep 27, 2011 1:11am
setting up for reversal
  • #202
  • Sep 27, 2011 1:13am Sep 27, 2011 1:13am
Looks like it is making a rally, but I am going to hold my original position. Short at 1.3529


By the way I have made two rooms, since one of the rooms got really big fast. We now have

Price Trap Active Trading
Price Trap Open Discussion
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  • #203
  • Sep 27, 2011 1:17am Sep 27, 2011 1:17am
Quoting forexforex
I am not familiar with skype.

open up a free account, and add me when u can, and I will invite you in. We have close to about 30+ memembers in the rooms now, so it's growing fast
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  • #204
  • Sep 27, 2011 1:29am Sep 27, 2011 1:29am
Slow!
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  • #205
  • Sep 27, 2011 1:44am Sep 27, 2011 1:44am
Quoting pedross
I'm in too raz, same trap levels, but shorted at 1.3522

pete
I entered at 1.35220 too. But I made my take-profit only 30 pips, so it already got hit. As raz said earlier, we should learn from this method and make it fit what works best for us. For me TP 30 pips for majors and 35 pips for crosses works very good, I feel very comfortable with it, but if I set bigger TP, I don't feel comfortable and I usually get out manually (like I did yesterday) long before the TP get hit.

My daily goal is 60 pips, so if I get 30 pips with this method at London open, I can always get another 30+ pips even by scalping.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #206
  • Sep 27, 2011 1:48am Sep 27, 2011 1:48am
Quoting Favorite
I entered at 1.35220 too. But I made my take-profit only 30 pips, so it already got hit. As raz said earlier, we should learn from this method and make it fit what works best for us. For me TP 30 pips for majors and 35 pips for crosses works very good, I feel very comfortable. My daily goal is 60 pips, so if I get 30 pips with this method at London open, I can always get another 30+ pips even by scalping.

GJ Fellow trader
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  • #207
  • Sep 27, 2011 1:57am Sep 27, 2011 1:57am
I am out also with only 30 pips.
Raz, I am trying to figure out how you got in earlier @1.3529
  • #208
  • Sep 27, 2011 2:02am Sep 27, 2011 2:02am
Quoting forexforex
Raz, I am trying to figure out how you got in earlier @1.3529
Pending "sell stop" order or a very good reaction?
Gentlemen always play by the rules. If they can't, they change the rules.
  • #209
  • Sep 27, 2011 2:05am Sep 27, 2011 2:05am
Quoting forexforex
I am out also with only 30 pips.
Raz, I am trying to figure out how you got in earlier @1.3529


i just got in a little behind it, but I am off to bed. Very tired. So another night with just one setup. Most of this posting was done in skype, but I am still holding my short. Almost all the traders in skype made good pips. So anyhow see you guys next session. this probably will hit in a hour so

Looking to close at 1.3480(it did miss my close by 2 pips, but I am holding it)
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  • #210
  • Sep 27, 2011 2:06am Sep 27, 2011 2:06am
Quoting forexforex
I am out also with only 30 pips.
Raz, I am trying to figure out how you got in earlier @1.3529
the candle had closed @3519 and then the price pulled back and he entered the trade @3529
  • #211
  • Sep 27, 2011 2:07am Sep 27, 2011 2:07am
Thanks Raz
  • #212
  • Sep 27, 2011 2:18am Sep 27, 2011 2:18am
Hi raz, I'm a little curious as to why you did not take the trap just after the frankfurt open (it would have resulted in a loss anyway), were certain other conditions not met? How are we to recognize an invalid trap because both trap size and minute length were met.

Many thanks
pete (bagged some nice pips tonight tho)

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  • #213
  • Sep 27, 2011 4:02am Sep 27, 2011 4:02am
from what i experimented it's better to put your entry (short or long) 3 pips above or bellow the where you think is the trap... this help to avoidfalse signal
  • #214
  • Sep 27, 2011 4:33am Sep 27, 2011 4:33am
Quoting pedross
Hi raz, I'm a little curious as to why you did not take the trap just after the frankfurt open (it would have resulted in a loss anyway), were certain other conditions not met? How are we to recognize an invalid trap because both trap size and minute length were met.

Many thanks
pete (bagged some nice pips tonight tho)

Attachment
As any system, this system will fail, and that is a perfect example.

Now remember, fallowing Money Management, TP is always 2*stop + 3 pips, so if the system is right 50% of the time, u have about 75% accuracy on returns.

Looks like a great system to me.
Regards
PH
  • #215
  • Sep 27, 2011 4:36am Sep 27, 2011 4:36am
Quoting FiNaLWaR
from what i experimented it's better to put your entry (short or long) 3 pips above or bellow the where you think is the trap... this help to avoidfalse signal
I don't agree with that because RAZ always wait for a pullback for an entry. Sometimes u get about 3:1 ratio on your entry.

If u do that u are playing a breakout strategy and u wont get the best entry to the trade.

Just my 0.02€

Regards
PH
  • #216
  • Sep 27, 2011 5:00am Sep 27, 2011 5:00am
this is my 2nd trade today. i took this trap long and got me only 15 pips. i thought it was just a mini trap, but it shot up all the way.
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  • #217
  • Sep 27, 2011 5:08am Sep 27, 2011 5:08am
this time the resistance turned be the support. you will see it clearer in 1hrtf
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  • #218
  • Sep 27, 2011 5:14am Sep 27, 2011 5:14am
currently looking for possible setup
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  • #219
  • Sep 27, 2011 5:31am Sep 27, 2011 5:31am
i just closed my runner from yesterday = +104 pips profit
  • #220
  • Sep 27, 2011 5:36am Sep 27, 2011 5:36am
i got in short @ 1.3574 . I am not comfortable with this one, but just following what i see. I got some pips to spare
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