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How is a Bull trap formed? 3 replies

EUR/USD Scalp 1 min 886 replies

Helper EAs for Semi-auto trading and Manual trap setting 0 replies

15 min indicator on 5 min chart 3 replies

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Price Trap Eur/Usd 1 MIN

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Quoting phneutral
Favorite, I really agree with you on the "checking trend first" for maximizing success.

But, I think the 1 hour timeframe is way too far from the 1 minute. I think the 15m do the job quite well.
Good point, but I think it is kind of individual thing, depends on the trader's habits.
Gentlemen always play by the rules. If they can't, they change the rules.
Quoting phneutral
Favorite, I really agree with you on the "checking trend first" for maximizing success.

But, I think the 1 hour timeframe is way too far from the 1 minute. I think the 15m do the job quite well.

Regards
PH
yeah, 1 hour doesnt hold too much of an edge when using raz's method. could look at 15 min.

as regards to what i said above, try my rules and see for yourself. you will cut out a lot of losses. you can incorporate my rules along with your retrace rule and see how things go.
sure, u need to wait for a retrace, but if the price doesnt break the trap by at least 5-6 pips , then more than likely it is a false break. even a retrace may not work.

just trying to helpful and improve the system to be a winner..! after all, that is what threads are about..
Quoting whatfx
yeah, 1 hour doesnt hold too much of an edge when using raz's method. could look at 15 min.

as regards to what i said above, try my rules and see for yourself. you will cut out a lot of losses. you can incorporate my rules along with your retrace rule and see how things go.
sure, u need to wait for a retrace, but if the price doesnt break the trap by at least 5-6 pips , then more than likely it is a false break. even a retrace may not work.

just trying to helpful and improve the system to be a winner..! after all, that is what threads...
And I thank you for that.

From what I see until now 3 pips above or below the trap, will work on a breakout with a 1:1 ratio. Today there were 5 winners and 1 looser with it.

Last week worst day was friday with 5 wins and 3 losses.

U can check it on my charts. I will have now your 5-6 pips rule in consideration too.

My math in pips for the day: 43-11+31= 63 pips. Thank you RAZ.

Done for the day.
Regards
PH
Quoting whatfx
the success rate increases dramatically if you do this:

if the break of the trap is by 5-6 pips or more, then it is good to go. you may enter and it is more likely to profit.

if the break is by say only 1-4 pips, and then price retraces, the trade is highly likely to fail. do not enter.

even if the break is by 5-6 pips, it is best to enter with half your original position. if price retraces, then you can enter with other half at a better price.

bottom line: wait for a break of 5-6 pips, enter with half position, re-enter with other...
Whatfx, please, can you give an example of chart, with the break of the trap is by 5-6 pips or more and an example with the break is by say only 1-4 pips?

Thanks

vcary
Quoting waxs
Attachment 803656
Just see it now.

In my charts, that "trap" is 47 to 54, 7 pips wide, so... not a trap.

I voided it.

Join us at skype. Is away faster to answer.

PH
Quoting vcary
Whatfx, please, can you give an example of chart, with the break of the trap is by 5-6 pips or more and an example with the break is by say only 1-4 pips?

Thanks

vcary
Hi. I cant post charts from my laptop. Generally if the price breaks the trap by 5-6 pips and the candle closes above (buy) / below (sell) the trap line, then that trade is likely to go into profit, as opposed to a trade where the break was by only 1-4 pips.
You can manually check it on the charts yourself.
Quoting whatfx
i cant read anywhere this retrace rule...
whatfx, rule numbers 3 and 4 on page 1 are clear and are the retrace rules ie await a candle close above/below the trap level and enter AT the level (or better.) In order to do the latter, u must have a retrace
Quoting Ph22
whatfx, rule numbers 3 and 4 on page 1 are clear and are the retrace rules ie await a candle close above/below the trap level and enter AT the level (or better.) In order to do the latter, u must have a retrace

sure. if a retrace occurs, then you enter another half position.
otherwise you still have your original half position open, entered at price break of 5-6 pips from trap. you dont wait for a retrace to enter the original half position.. just a break of 5-6 pips...
Quoting whatfx
nope. cant see it anywhere. read the rules as per what raz has stated, no mention of retrace. perhaps you could point out where raz shows this ?

or is it something you have come up with yourself ?
My response was in regard to this post. With Raz rules there is no IF. With your own adaptation, u can of course do whatever floats your boat.
Raz, I want to thank you for sharing this with everyone so generously. I love the simplicity of how it works and quite reliable. I have always been very suspect of indicators, leading or lagging, and have been searching for something which more closely shadows the actual price movement as it does whatever it's going to do. I wish you much success.
Hopefully this week starts better off then last week. Although last week I netted positive gains, it was a rough start. However I am ready. If you have asked me while I was offline to be added to the room, don't hesistate to message me again in skype, and I will get you back into the room. Have fun this week
Trade Like a Robot make money Like a Bank
does anyone see any traps, i cant at the moment..?
Quoting whatfx
does anyone see any traps, i cant at the moment..?

We are in the middles of a trade that Phneutral actually called out for us. So I took his trap this time, and thus far we are doing well. It was

upper 1.3632
Lower 1.3615

So far holding long well, will look for more traps
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Trade Like a Robot make money Like a Bank
This was Phneutral's call on Trap. I chanced it with him, and he came through for us, gj my friend!
Trade Like a Robot make money Like a Bank
i grabbed a few pips. entered at 13652 closed 13672. not a trap, but i traded the breakout. +20 pips, ok start to the day.
Quoting raz
We are in the middles of a trade that Phneutral actually called out for us. So I took his trap this time, and thus far we are doing well. It was

upper 1.3632
Lower 1.3615

So far holding long well, will look for more traps

this was a very difficult one to spot. but valid nonetheless. well done ph..!
Quoting raz
We are in the middles of a trade that Phneutral actually called out for us. So I took his trap this time, and thus far we are doing well. It was

upper 1.3632
Lower 1.3615

So far holding long well, will look for more traps
I took this trade, but got out manually with only +18 pips (thought the price started reversing). Could get 30 pips easily. We live and we learn...
Gentlemen always play by the rules. If they can't, they change the rules.
Trap 1: Winner for +35
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Quoting phneutral
Trap 1: Winner for +35

gj Ph!
Trade Like a Robot make money Like a Bank
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