PRICE Accordingly | Page 106 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Close Price VS Median Price (or other price types) 33 replies

House price data price action 1 reply

Why closing price is not the same as opening price? 1 reply

Price on charts vs. Bid and Ask price 1 reply

differences between chart price and trading price 2 replies

Attachments: PRICE Accordingly
Exit Attachments

PRICE Accordingly

  • #2,101
  • Oct 20, 2011 8:12am Oct 20, 2011 8:12am
You are correct sir. That was my error, and it cost me. I did take a loss on it. Thanks for the clarification. The good news is, I recognized the structure of resistance just to the left so I took the sell and reaped a harvest of 14.5 pips. Not from this method, just price structure.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #2,102
  • Oct 20, 2011 8:16am Oct 20, 2011 8:16am
Quoting Klaxon
Maybe i m wrong but i don t think it s a SBTcapstone, because the PA don t comes directly from the outside of the upper band it stop at the mid and went again to the upper band before going back to the lower band and the band is more neutral now, you could compare with the GBPUSD right now and you will see what i mean
Nice read Klax..definitely one to wait for the second RF signal given the bands had flattened, which didn't come, like earlier.
  • #2,103
  • Oct 20, 2011 8:55am Oct 20, 2011 8:55am
The saves...

opening his hand like a can opener about its true intentions..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 106.gif Size: 53 KB
Click to Enlarge Name: 107.gif Size: 53 KB
  • #2,104
  • Oct 20, 2011 9:30am Oct 20, 2011 9:30am
ok i am showing this for learning purposes as i know this is post news reaction..

what i want to point out is the importance of some of the rules that i have in this plan of trading...
the RF confirmation and buffer pending order..
look at the chart.. it looks to be a smbt signal at its peak..
its so easy to jump the gun on this when we see such hammer candle formation failure for the long move off the mid band reaction and in the following candle to pull the trigger for the definite short run and not to wait for the rf close with market execution.. so letting the candle formation to rule for you and lose control.. avoid that.
sticking to the plan and the rules will give discipline regardless of afterward result.. so don't get blinded even if this was running short to the moon, but so nicely it reversed and no care in world for that hammer formation.. lol

I thought it would be useful to point this out as its happening live.
Attached Image (click to enlarge)
Click to Enlarge Name: 107.gif Size: 53 KB
  • #2,105
  • Oct 20, 2011 9:48am Oct 20, 2011 9:48am
Here is when i went long on the blue line with the buffer use on Eu smbt !
And then it happened.
Dean what is wrong with that ?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eu smbt failure.gif Size: 25 KB
  • #2,106
  • Oct 20, 2011 10:03am Oct 20, 2011 10:03am
Quoting LuisPrinc
Here is when i went long on the blue line with the buffer use on Eu smbt !
And then it happened.
Dean what is wrong with that ?

Thanks
nothing wrong with that trade, its a perfectly valid smbt setup.

you want me tell you now whats really wrong thou??.. or have figured it out already what i am about to say.. or anyone else??
  • #2,107
  • Oct 20, 2011 10:13am Oct 20, 2011 10:13am
Quoting P.Dean
nothing wrong with that trade, its a perfectly valid smbt setup.

you want me tell you now whats really wrong thou??.. or have figured it out already what i am about to say.. or anyone else??
I put my 2 cents on there being a few too many extra lines on that chart for PD's liking!
  • #2,108
  • Oct 20, 2011 10:18am Oct 20, 2011 10:18am
Quoting occamsrazors
I put my 2 cents on there being a few too many extra lines on that chart for PD's liking!
thanks for giving it a try.. but no thats not it.. his chart is fine.
  • #2,109
  • Oct 20, 2011 10:20am Oct 20, 2011 10:20am
Quoting P.Dean
nothing wrong with that trade, its a perfectly valid smbt setup.

you want me tell you now whats really wrong thou??.. or have figured it out already what i am about to say.. or anyone else??
i think that there is only a trade that went wrong and falls into the 20% lossers we have to cover with a correct MM. We have to live with it and wait for the next setup, trusting in the consistency of the strategy...

best regards!
  • #2,110
  • Oct 20, 2011 10:32am Oct 20, 2011 10:32am
Quoting Incanus
i think that there is only a trade that went wrong and falls into the 20% lossers we have to cover with a correct MM. We have to live with it and wait for the next setup, trusting in the consistency of the strategy...

best regards!
bingo... well done brother.. its as simple as that.

now, stay tune for my answer to Luis and useful for everyone.
  • #2,111
  • Oct 20, 2011 10:46am Oct 20, 2011 10:46am
What’s wrong is the Mentality to avoid, in two vital areas..


1) You looking for the perfect system who produces a 100% positive outcome from every trade..

2) Discounting the necessary activity.. not being present for the other 7 winners… today we have had give and take about 8 smbt/sbt trend following setups and it has produced 7 clear winners and one loss.. that is a 80+% wining ratio.


Now I don’t know if this was your only trade or you took the other ones too or you did not trade at all and just pointing this out to find out..
However, as I said in one of my other post earlier today… this is the game of Probability and we are at best of best nothing more than a Speculator… we put our money at risk but a calculated one which has some odds in our favor, that’s it, thats just about it.. and there will be losers along the way.. a solid Trader must set a special place for losers in his agenda, bcz whether we like it or not, they will happen and we atta deal with it..
over time its easy to deal with it and not even care about it when you see your wining 70-80% of the times and lose 30-20%.
the only time that its hard to deal with losses is when one is not present in all if not at least 80% of his systems signals... if cherry picking and lack of activity creeps in that's when one ends up with most of the losses and less of the winners.. so trust in what one do and mass of activity is the prescription.


This post by no means has anything against you Luis, I like your presence and its not about anything but business and you and everyone's success, as i said i don't know how your trading went today.. I am just pointing out facts and making sure you and everyone else understand what are the necessary approach Attitude/Mental wise, to possess in order to last in this business and be a CONSISTENT earner for years to come.


I hope the above post makes sense to all.. nothing for nothing it is key to ones success in trading in general.


Cheers,
  • #2,112
  • Oct 20, 2011 10:47am Oct 20, 2011 10:47am
Quoting P.Dean
nothing wrong with that trade, its a perfectly valid smbt setup.

you want me tell you now whats really wrong thou??.. or have figured it out already what i am about to say.. or anyone else??

Yes I wanna hear what went wrong ?
  • #2,113
  • Edited 11:41am Oct 20, 2011 10:56am | Edited 11:41am
gu smbt live..


update.. ouch sl hit.. that's the way it goes
Attached Image (click to enlarge)
Click to Enlarge Name: 107.gif Size: 51 KB
  • #2,114
  • Oct 21, 2011 1:51am Oct 21, 2011 1:51am
First nice little trade of the day - NBT on the CAD with double bottom for 11 pips. Price stalled at the band and near previous high so closed trade
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-21_CAD_NBT_trade_1.png Size: 37 KB
  • #2,115
  • Oct 21, 2011 2:08am Oct 21, 2011 2:08am
Hi everyone,

New day, new opportunities, to finish the week strong... I will be here for NY session (tennis practice), when i get back i like to see mass of activity from you all with lots of trade displays, I like the cohesiveness amongst some of you its a great thing..
be Present for most if not all the setups especially sbt/smbt ones, they are must.. if you be PRESENT for enough times you will win more often than not and leads to being ahead at the end.
don't worry about the a few loss in between, invite them... with that mentality you tear away from fear and you will trade with confidence like a force.. look at my last trade yesterday, i got spanked for -28.. but still walked away with +18 for 3-1. the problem of my modest success is not the big sl hit i took late in the day but not being present for the a few other solid trades which all would have been winners and would had put me way above my daily avg.

take all or at least 3/4 of all VALID setups.

anyways enough said.. good luck to all, see you at Yankees time.


cheers,
  • #2,116
  • Oct 21, 2011 4:43am Oct 21, 2011 4:43am
No real good signals today, price moving away from the bands but having no pull back until price reverses and goes the other way.......oh well thats trading.

Patience is key.
What you do is a reflection of you....what I do is a reflection of me.
  • #2,117
  • Edited 5:14am Oct 21, 2011 5:01am | Edited 5:14am
Quoting Ezzy
No real good signals today, price moving away from the bands but having no pull back until price reverses and goes the other way.......oh well thats trading.

Patience is key.
Hey Ezzy, only one other setup possibly..an NBT short on the AUD earlier to bottom band, entry was below middle band but was more than 10 pips to bottom (just)...but yep not much so far
  • #2,118
  • Oct 21, 2011 5:25am Oct 21, 2011 5:25am
Quoting occamsrazors
Hey Ezzy, only one other setup possibly..an NBT short on the AUD earlier to bottom band, entry was below middle band but was more than 10 pips to bottom (just)...but yep not much so far

Hi Occa

You are right with AU trade.......I guess I am biased towards trending signals
What you do is a reflection of you....what I do is a reflection of me.
  • #2,119
  • Oct 21, 2011 5:31am Oct 21, 2011 5:31am
Quoting Ezzy
Hi Occa

You are right with AU trade.......I guess I am biased towards trending signals
I m biased too Sir, they are the safest setup, i love SMBT
Respect and Honor !
  • #2,120
  • Oct 21, 2011 5:47am Oct 21, 2011 5:47am
I just ambushed the EURUSD 3rfct short +10.9, i close it around the mid, maybe too early but it s my first trade today so...

hapipipin
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd short.gif Size: 22 KB
Respect and Honor !
0 traders viewing now