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  • #1,981
  • Oct 13, 2011 1:33pm Oct 13, 2011 1:33pm
Quoting Incanus
Hi P.Dean and everyone,

do you think that any of the setups that ocurred in the highlighted period where good for entering a short as a smbt?

the price where so chopy that signals many times but only took of on the last signal.

According to the strategy we are better to let the price shows if it will continue with the striking down trend and then wait for the next smbt if it happens?

what do you think?

best regards!
hi Incanus,

as long as the band is striking, it is ok to take a shot at smbt.. but remember that the first smbt signal is always supposed to be the strongest.. the ones that come next off the same move, its weaker especially if the first smbt signal was a fake out or did not break the LL/HH point..
now your highlighted areas are ranging time after the down move with band still striking.. so the signals are valid.. however i see that none of the signals with the correct pending gets trigger till the last one which turned out to be a winner...
but, now lets say that they do get you triggered during chop/range and does not run and stalls... now at this point if you keep making quick exits and re-entry, then one can get chopped around pretty severely and most likely after a few losses in the same area you will not be present for the one that it actually turns into a winner... so that is why it brings us to the exit strategy that i talked about yesterday when Luis asked me a question (which he never said thank you.. lol, its ok though).. I recommend to refer to that post one or two pages back.
meaning you make one trade instead of a few losing one and still be in the trade to not miss the run, with one risk of sl hit.. but saves you from many losses and gives the trade the development time for the Trend continuation or final reverse.

keep in mind, everything that i throw in during the days of trading are key stuff that must be taken note.


klaxton.. thank you for your explanations as well.
  • #1,982
  • Oct 14, 2011 6:54am Oct 14, 2011 6:54am
First trade of the day , smbt EURJPY long closed +7.5, it was not the best smbt setup i have seen because after going through the mid it take some times to get back to the trigger zone but it worth a try

hapipipin
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy long.gif Size: 24 KB
Respect and Honor !
  • #1,983
  • Oct 14, 2011 6:56am Oct 14, 2011 6:56am
Quoting P.Dean
hi Incanus,

as long as the band is striking, it is ok to take a shot at smbt.. but remember that the first smbt signal is always supposed to be the strongest.. the ones that come next off the same move, its weaker especially if the first smbt signal was a fake out or did not break the LL/HH point..
now your highlighted areas are ranging time after the down move with band still striking.. so the signals are valid.. however i see that none of the signals with the correct pending gets trigger till the last one which turned out to be a winner......
Hello P.Dean, thanks a lot for your explanation, as always the tips based on your experience and reading of PA are very usefull.

Best regards!
  • #1,984
  • Oct 14, 2011 7:21am Oct 14, 2011 7:21am
smbt EURUSD closed at +10.5 and AUDUSD +10.6

hapipipin !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd long.gif Size: 24 KB
Click to Enlarge Name: audusd long.gif Size: 24 KB
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  • #1,985
  • Oct 14, 2011 8:29am Oct 14, 2011 8:29am
I just wanted to show what i miss after going back from lunch after 3 succesful trades in a row, 2 more smbt setup show up today just before Dow open, someone got it ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy long.gif Size: 22 KB
Click to Enlarge Name: gbpusd long.gif Size: 22 KB
Respect and Honor !
  • #1,986
  • Oct 14, 2011 10:52am Oct 14, 2011 10:52am
Quoting P.Dean
hi Incanus,

as long as the band is striking, it is ok to take a shot at smbt.. but remember that the first smbt signal is always supposed to be the strongest.. the ones that come next off the same move, its weaker especially if the first smbt signal was a fake out or did not break the LL/HH point..
now your highlighted areas are ranging time after the down move with band still striking.. so the signals are valid.. however i see that none of the signals with the correct pending gets trigger till the last one which turned out to be a winner...
but,...

I really thank you Dean !!!
Still I have a lot to learn, today I saw 2 smbts on eurusd and they worked out well.
See ya all next week !
  • #1,987
  • Edited 7:23pm Oct 16, 2011 7:13pm | Edited 7:23pm
Hey PD. Hope you don't mind. I am using the 1hr for confirmation on this EU CT.....

Edit. Damn! my little stepstop EA knocked me out of the trade at BE ( forgot to change the settings ). Anywise, you can see 1hr is another option for those that don't have time to look at the screen all day....
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m.jpg Size: 91 KB
  • #1,988
  • Oct 17, 2011 4:30am Oct 17, 2011 4:30am
First trade of the day i just closed EURJPY 3rfct +12.2 , maybe too early but i expected a smbt at the mid so...

hapipipin
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy short.gif Size: 22 KB
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  • #1,989
  • Oct 17, 2011 4:38am Oct 17, 2011 4:38am
Quoting Klaxon
First trade of the day i just closed EURJPY 3rfct +12.2 , maybe too early but i expected a smbt at the mid so...

hapipipin
Nice job Klaxon. I saw that but passed thinking the initial close had to be back inside the bands. Watching a striking sell in the usdcad
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  • #1,990
  • Oct 17, 2011 4:44am Oct 17, 2011 4:44am
Quoting daytrade5
Nice job Klaxon. I saw that but passed thinking the initial close had to be back inside the bands. Watching a striking sell in the usdcad
Hey welcome back Daytrade, maybe you re right i m not sure about that, it s only my first 3rfct ever you know, i m more familiar with smbt
Respect and Honor !
  • #1,991
  • Oct 17, 2011 4:47am Oct 17, 2011 4:47am
Quoting Klaxon
First trade of the day i just closed EURJPY 3rfct +12.2 , maybe too early but i expected a smbt at the mid so...

hapipipin
Just wanted to show what happened few candle after i got out, i m still in training camp...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy short.gif Size: 22 KB
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  • #1,992
  • Oct 17, 2011 5:00am Oct 17, 2011 5:00am
Quoting Klaxon
First trade of the day i just closed EURJPY 3rfct +12.2 , maybe too early but i expected a smbt at the mid so...

hapipipin
Nice one you got here. but was wondering why you exit so early
  • #1,993
  • Oct 17, 2011 5:07am Oct 17, 2011 5:07am
Quoting kester
Nice one you got here. but was wondering why you exit so early
Pretty good question Sir Like i said i m still in training camp here with this beautifull strategy, but the counter trade are not the safest setup we could have with this strategy, so in the last trade when i got out the PA was at the mid so with the pretty good angle of the band i tough it could become a smbt setup soon so, it s probably why i got out too early
Respect and Honor !
  • #1,994
  • Oct 17, 2011 5:10am Oct 17, 2011 5:10am
Quoting Klaxon
Pretty good question Sir Like i said i m still in training camp here with this beautifull strategy, but the counter trade are not the safest setup we could have with this strategy, so in the last trade when i got out the PA was at the mid so with the pretty good angle of the band i tough it could become a smbt setup soon so, it s probably why i got out too early
Klaxon thanks for the answer as I too am still learning
  • #1,995
  • Oct 17, 2011 5:26am Oct 17, 2011 5:26am
Hi everyone..

just getting started for me here a bit late thou..

i see some discussion about counter 3rfct trade that Klaxon took..
the trade is a fine looking one but as one of the guys also mentioned its better to look for the rf candle close bar to come inside the band.. the reason for that is it indicates that lesser striking band and its sharpness has ease down.. for eg. the same play at the same time happened on eu and on that one the 3rd rf bar has clearly closed inside the band.. so its a bit more safer more reliable.
on exit.. we watch the reaction to each hurdles.. first one is always the mid band.. then lower band/upper band.. then the previous LL/HH of the recent past.
remember folks.. we got no set tp here.. we look for more and better profits as what market can give us with our skill put to work for the extended capitalization.
  • #1,996
  • Oct 17, 2011 5:41am Oct 17, 2011 5:41am
Quoting P.Dean
Hi everyone..

just getting started for me here a bit late thou..

i see some discussion about counter 3rfct trade that Klaxon took..
the trade is a fine looking one but as one of the guys also mentioned its better to look for the rf candle close bar to come inside the band.. the reason for that is it indicates that lesser striking band and its sharpness has ease down.. for eg. the same play at the same time happened on eu and on that one the 3rd rf bar has clearly closed inside the band.. so its a bit more safer more reliable.
on exit.. we...
Thank you brother for the clarification about 3rfct rules, you know i had 2 choices about 3rfct setup at the same time and i prefered to take eurjpy because eurusd has closed around the mid, what do you think PD about the 3rfct setup on the eurusd at the same time as i took the eurjpy ?
Respect and Honor !
  • #1,997
  • Oct 17, 2011 6:00am Oct 17, 2011 6:00am
Quoting Klaxon
Thank you brother for the clarification about 3rfct rules, you know i had 2 choices about 3rfct setup at the same time and i prefered to take eurjpy because eurusd has closed around the mid, what do you think PD about the 3rfct setup on the eurusd at the same time as i took the eurjpy ?
eu was the better one...
rf bar candle to close inside the band is much important.. it assures your not going reverse prematurely or against too sharp of a pa momentum trend.. it's much preferably timed.

as long as the close bar before the mid band its ok to trade it.. once it has passed it's no good.. don't worry that entry is too close or right at the mid band.. your aiming for the lower/upper band most times anyways.
  • #1,998
  • Oct 17, 2011 6:08am Oct 17, 2011 6:08am
Quoting P.Dean
eu was the better one...
rf bar candle to close inside the band is much important.. it assures your not going reverse prematurely or against too sharp of a pa momentum trend.. it's much preferably timed.

as long as the close bar before the mid band its ok to trade it.. once it has passed it's no good.. don't worry that entry is too close or right at the mid band.. your aiming for the lower/upper band most times anyways.
Thank you very much for your time brother, i need to prtactice more the 3rfct setup, it was my first 3rfct anyway
Respect and Honor !
  • #1,999
  • Oct 17, 2011 7:39am Oct 17, 2011 7:39am
ok... here is a example of a 3rfct signal to be rejected..

reason, no close inside the bar.

now look at the angle of the band... too damn striking..
so gotta wait for more softer band and evaluate it with each rf signals post the 3rd one.. see how it looks.
Attached Image (click to enlarge)
Click to Enlarge Name: 98.gif Size: 57 KB
  • #2,000
  • Edited 8:21am Oct 17, 2011 8:07am | Edited 8:21am
Entered short in the gbpusd

first trade of the day.....wife yelling at me. Took 10pips
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 25 KB
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