Price Trap Eur/Usd 1 MIN

Excellent, thanks for your speedy reply raz

Pete

I'm a huge fan of price action strategies. Just read through the first 16 pages before skipping to this page

Excited to give this strategy a try and add to my arsenal, definitely looks like a legitimate and logical one.

Though are you folks mainly on skype now or is there still some trade updates here?

Thanks Raz for starting this enlightening thread!

most of live trading is discussed on skype, however I try to post it here. But I still use this thread to help answer any questions for educational purposes.

Thanks Raz for sharing! I have read the entire thread and am very eager to start trading it. Hope to see you on Skype!

Regards, Nico

Maybe it was not a "classical" trap (1.33167/1.32954), but I entered at 1.33181. So far I'm 10 pips up.

no trap according to the rules, so not sure why you entered...

The price started ranging, exited with +13 pips. Better than nothing!

so you are actually not trading this system favorite !

Maybe it doesn't look so great right now, but at the moment it looked OK. The price had been rejected once on the top and twice at the bottom with a "V" form. I should "tighten" the trap, making the upper level 1.33103, but the price moved too quickly, so i didn't have the time to do it.

As to my exit - I said before and I'm saying again: I'm not going to follow bluntly the rule that the price must hit either TP or SL. I trade with real money, and if I see that the price going against me, I'd better exit with a small profit (and maybe enter again later) than lose money just in order to say proudly that I follow the rules.

no 'v' formation at bottom , difference (gap) in price at bottom. so not perfect 'v'. hence i didnt take trade..

and because its not a perfect 'v', as you can see the trade did not work out...

perfect v would have had a good degree of success.

Perfect "V" doesn't come in very often.

And by "gap" in price at bottom you mean a difference in 1.1 pip? Come on, it is not geometry, it is live trading!

You must be kidding...


Maybe in theory, but not in real life.

But that's OK, it is IMHO. You wait for a perfect "V", I prefer just to make money.

Well, it was fun, I have to return to my trading.

Good-bye, everybody!

well you are entitled to trade your way.....

well cant see any traps so far today. iam off to trade gu...

made a measley 20 pips shorting from 13311 to 13290. not a trap trade, but .....

until tomorrow london time folks...!

Some up front clarification for Raz and thread followers:

1) I am in Iraq, no longer have internet in a place where I can download data, and it will be another month before I'm home to do backtesting on this. I mention this because I would happily satisfy my own curiosity on my own (via backtesting), without having to ask a question below.

2) In no way can I argue with Raz's ~14% return, but I want to know if it can be better.

3) I have read the thread.


Ok, I know I'll need screen time. I understand the entry rules. I *really* appreciate the charts you guys (and gals) are adding. So, no questions there, perhaps until I actually get back home.

However, I would like to know about money/trade management.

Raz, I see your rules. And I see your results. GREAT stuff. No questions there... but I have a few questions.

With approximately 6 months of trading this system behind you and roughly 2 trades per day (obviously estimating), you have a lot of data to look back on. My math shows you may have about 250 trades on this, using those assumptions.

Have you analyzed some various money management ideas, like...

* perhaps moving SL to BE (+/-) once price reaches 1x, 1.5x, etc. (where x is height of the trap)

and/or...

* taking 1/2 off at 1x, 1.5x, or 2x, and letting the rest "run" to the next box (allowing it to continue if the box breaks in the proper direction)

and/or... any other infinite possibilities.

You've obviously traded a long time (from your explanation in post 1), seem pretty intelligent about all this, and you're kicking butt. So, I'm curious if you would be willing to elaborate on any analysis or simple observations you may have to offer regarding trade management.

Second question. Are you adding spread to your stop loss or take profit on the buy side? If the top of your trap is at 1.3545 and there is a 2 pip spread, are you waiting for it to come back to 1.3543 in order to go long at 1.3545... or are you primarily just getting in the first time it comes back to 1.3545, even though you've technically lost the spread?

Again... I only ask for your version. Believe me, I won't even touch this without back testing, but I'm curious what your personal philosphy is on this one.

Thanks for your time, strategy, and great thread. It is sincerely appreciated.

ph, just a comment from a noob, I do not see clear break for entry but it did work out well!

you're right m8.

I avoid one like this today! U saw it

Resume of the day:

trade 1: Leave without us