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Price Trap Eur/Usd 1 MIN

  • #721
  • Oct 19, 2011 7:40pm Oct 19, 2011 7:40pm
Quoting KumoDragon
I see in the #1 post, is says channels must be a minumum of 9-23 pips wide from top to bottom.

What is the maximum though?

Did you mean 23 pips is the maximum amount before a channel is too big?
Yes, 9 pips is the minimum and 23 pips is the maximum.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #722
  • Oct 19, 2011 7:58pm Oct 19, 2011 7:58pm
Quoting Robst3r
yes it was a winner +33 pips
The price rejection in that trap doesn't look steep enough to me. You might have just gotten lucky that time. Can someone else look at this and let me know if I'm wrong here? I don't want to discourage anybody, and I'm still kinda new to this system myself.
"The only way to win the game is not to play." - B. S. Miller
  • #723
  • Oct 19, 2011 8:05pm Oct 19, 2011 8:05pm
Since Raz came up with this system maybe he can advise. I had an idea that might clear up the subject of what is price rejection and what isn't. Some type of guideline formula. For instance:
Price must move up or down X number of pips within Y minutes. Any less is not price rejection according to this system.
"The only way to win the game is not to play." - B. S. Miller
  • #724
  • Oct 19, 2011 9:27pm Oct 19, 2011 9:27pm
With all the move that I have been dealing with I am sorry that I haven't been on the thread that much. However I hope to get things back to normal soon. I see that we still have some people that still posting here. I will try and clarify the details, and repost in post #1. I know overtime I have explained other things as things go on. Ihor did a good demonstration in picture perfect setup on how the setups work. The Risk to Reward is strictly upto you guys, but again I stick to how I trade it
Trade Like a Robot make money Like a Bank
  • #725
  • Oct 19, 2011 10:18pm Oct 19, 2011 10:18pm
Quoting CalistogaKid
Since Raz came up with this system maybe he can advise. I had an idea that might clear up the subject of what is price rejection and what isn't. Some type of guideline formula. For instance:
Price must move up or down X number of pips within Y minutes. Any less is not price rejection according to this system.


Rejection to me is when price quickly shoots in the opposite direction of a certain level, thus greating an upper or lower level. If price hits and area and sticks there for a few minutes, I usually dont count it to be price rejection.
Trade Like a Robot make money Like a Bank
  • #726
  • Oct 20, 2011 12:55am Oct 20, 2011 12:55am
i think it was a good trade, because it was rejected 3 times and the fourth time it went trough the bottom
  • #727
  • Oct 20, 2011 3:23am Oct 20, 2011 3:23am
does anyone have a collation of results so far as to how this system has performed since inception...
  • #728
  • Oct 20, 2011 3:47am Oct 20, 2011 3:47am
hi whatfx, I see you in so many threads, and posting a lot, mean you look for a good system, but never trade, here is your opportunity:
please focus your time and do this homework for us, trade the system for a month and give us the results.
thanks in advance

Quoting whatfx
does anyone have a collation of results so far as to how this system has performed since inception...
  • #729
  • Oct 20, 2011 4:26am Oct 20, 2011 4:26am
Here is a picture of a 23 pip wide 11 candle trap. Price has just retraced back to the bottom of it.

Is this not enough candles yet though? Too early to call it a strong trap?

Is there a minimum number of rejection you want to see?

I only saw one V rejection per side then it went through the bottom and is now retracing back to it.?
Attached Image (click to enlarge)
Click to Enlarge Name: eunotenough.gif Size: 13 KB
  • #730
  • Oct 20, 2011 6:31am Oct 20, 2011 6:31am
Quoting KumoDragon
Here is a picture of a 23 pip wide 11 candle trap. Price has just retraced back to the bottom of it.

Is this not enough candles yet though? Too early to call it a strong trap?

Is there a minimum number of rejection you want to see?

I only saw one V rejection per side then it went through the bottom and is now retracing back to it.?
Well wether my price trap was exemplary or not it worked out. Came within a hair of getting stopped and then went to my TP and I locked it in with postive SL, and got stopped at +41 pips.
  • #731
  • Oct 20, 2011 6:53am Oct 20, 2011 6:53am
Quoting whatfx
does anyone have a collation of results so far as to how this system has performed since inception...

Sorry, but most of us have migrated to the skype room, and I know everyone wants results, but that is purely on individual performance. Even Phneutral is now posting in skype, and modifying the method to his best use. Last night I took 3 trades, lost the first, and won the other 2. Netted 8.9% gain last night so a very good night for me. I will try and back post the live trades I took over the 3hours that I trade.
Trade Like a Robot make money Like a Bank
  • #732
  • Edited 7:17am Oct 20, 2011 6:55am | Edited 7:17am
Quoting KumoDragon
Well wether my price trap was exemplary or not it worked out. Came within a hair of getting stopped and then went to my TP and I locked it in with postive SL, and got stopped at +41 pips.

GJ, trap must have minium of 9 pips, and I post a pic of the last valid trap I took last night, and woke up to a winning trade. Count the candles starting where the first circle is.
Attached Image (click to enlarge)
Click to Enlarge Name: VALID LOOK.jpg Size: 138 KB
Trade Like a Robot make money Like a Bank
  • #733
  • Oct 20, 2011 7:01am Oct 20, 2011 7:01am
This was last trade last night taken, and I believe alot of us got in and took it and made some pips. I read back in the skype room and think some got a little scared and shortened r:r, but I was asleep so didnt matter to me.
Attached Image (click to enlarge)
Click to Enlarge Name: THIRD TRADE RECAP.jpg Size: 167 KB
Trade Like a Robot make money Like a Bank
  • #734
  • Oct 20, 2011 7:05am Oct 20, 2011 7:05am
Quoting raz
GJ, trap must have minium of 11 pips, and I post a pic of the last valid trap I took last night, and woke up to a winning trade. Count the candles starting where the first circle is.
What do you think about my trap above? I marked it's start with a vertical line, and the bottom and top with two horizantal.

In that pic price is just under or at the bottom.
  • #735
  • Oct 20, 2011 7:08am Oct 20, 2011 7:08am
While I've got the op here. I just want to re ask him the same question I aksed earlier.

23 pips is the max size for a price trap that you use/allow?
  • #736
  • Oct 20, 2011 7:17am Oct 20, 2011 7:17am
Quoting KumoDragon
While I've got the op here. I just want to re ask him the same question I aksed earlier.

23 pips is the max size for a price trap that you use/allow?

correct, but some others are trading traps in the realm of 35 pips, but that is strictly on them
Trade Like a Robot make money Like a Bank
  • #737
  • Oct 20, 2011 7:27am Oct 20, 2011 7:27am
Quoting raz
correct, but some others are trading traps in the realm of 35 pips, but that is strictly on them
Ok, now I dont feel bad about the 26 pip trap I just set.

What brought you to a 23 pip max trap?
  • #738
  • Edited 8:25am Oct 20, 2011 7:32am | Edited 8:25am
My second trap is working out so far. (26 pip) Dropped to +30 or so, locked in BE, because if it goes all the way back to entry, I think it will zoom up.

Entered inside the trap, so, if it goes to my TP I stand to make about 60 pips.

Well, I'm convinced. 2 trades two winners. Just locked in +61 pips on my last short after it made a good pass past 1.3700.

2:1 ratio and easy to understand set ups with no idicators. I also noticed that on the 1H the SL for traps ends up being behind the last 1H candle, which often has a wich in favor of the trap, bonus.

Thanks for showing me the light RAZ, now I can give up on my indicator based holy grail search and just trust price.

P.S. Nice to have the 2:1 ratio, makes me not afraid of losses, I think the ratio is key in this method to making it profitable.
Attached Image (click to enlarge)
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  • #739
  • Oct 20, 2011 7:43am Oct 20, 2011 7:43am
As I enter the room of the group?
  • #740
  • Oct 20, 2011 9:22am Oct 20, 2011 9:22am
Quoting whatfx
does anyone have a collation of results so far as to how this system has performed since inception...
Quoting punisher
hi whatfx, I see you in so many threads, and posting a lot, mean you look for a good system, but never trade, here is your opportunity:
please focus your time and do this homework for us, trade the system for a month and give us the results.
thanks in advance
whatfx, I'm not sure that anybody can give you what you want.

For example, I trade both this system and another system from the same account, the first week I tested this system with 0.01 lot, after that I started trading it with a full lot. Considering this and considering another system I can't tell you the account growth percentage. I'm too lazy to go through all the trades and count all the pips. I have my daily goal and that's what is important for me (and I try to get it with two different systems), I don't care about all other statistics.

All I can say is: in almost 4 weeks I have only three small losses, 11, 8 and 10 pips. But I trade only in the H-1 trend's direction and I exit with the small profit/small loss when price turns against me, I also trade both euro and pound. Everything else I do according to the raz's rules.
Gentlemen always play by the rules. If they can't, they change the rules.
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