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Price Trap Eur/Usd 1 MIN

  • #741
  • Oct 20, 2011 11:30am Oct 20, 2011 11:30am
Quoting KumoDragon
Ok, now I dont feel bad about the 26 pip trap I just set.

What brought you to a 23 pip max trap?

I just like to make my money fast, since I risk 2% per trade regardless of trap size, I just feel that markets swing in the area of 20 to 50 pips before retracing, and therefore I wanted to stay with in that realm. Personally I like 12 to 14 pip trap sizes the best, of course the lower the trap the size the better for two reasons. Take profits usually hit much faster, and the bonus pips affect the acct more. Just how I have seen it
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  • #742
  • Oct 20, 2011 11:51am Oct 20, 2011 11:51am
Quoting KumoDragon
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...

remember this method has no regard to new sigs, fib points, trend lines, daily pivots. Not to say that any of things are not important, but give it time and you will see how price starts to move day after day.
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  • #743
  • Oct 20, 2011 11:52am Oct 20, 2011 11:52am
I have update post 1, and I suggest all who have been here since the beginning or is new, is to reread the updated area of post #1
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  • #744
  • Oct 20, 2011 11:52am Oct 20, 2011 11:52am
I have update post 1, and I suggest all who have been here since the beginning or is new, is to reread the updated area of post #1
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  • #745
  • Oct 20, 2011 11:53am Oct 20, 2011 11:53am
I have update post 1, and I suggest all who have been here since the beginning or is new, is to reread the updated area of post #1
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  • #746
  • Oct 20, 2011 12:24pm Oct 20, 2011 12:24pm
Good stuff, thanks.

What times are you and or others in the skype room?

I only trade the US session.
  • #747
  • Oct 20, 2011 12:37pm Oct 20, 2011 12:37pm
Hi Raz...can you include me into the Skype group please..( I promise to be very quiet lol)

cathal.oconnor1


Thanks Raz
  • #748
  • Oct 20, 2011 12:48pm Oct 20, 2011 12:48pm
Hi Raz...can you add me to your Skype contact group?..( I promise to be very quiet.... lol )

cathal.oconnor1

Thanks Raz
  • #749
  • Oct 20, 2011 1:01pm Oct 20, 2011 1:01pm
Quoting raz
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.
Hi Raz

Could you please take a look at the chart in post 733. I need some clarification.

The trap was 7 bars from first green circle to third green circle (11pips wide) – 14 bars to breakout of trap.

Looking at Ihor diagram – it states that the first and third circle should be at least 11bars apart – if this is the case, this setup should not have been taken, is this correct?
Or am I missing something???

Thank you.
  • #750
  • Oct 20, 2011 1:23pm Oct 20, 2011 1:23pm
Some charts for today:

Ragards and good traps all
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  • #751
  • Oct 20, 2011 1:24pm Oct 20, 2011 1:24pm
and last
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  • #752
  • Oct 20, 2011 6:32pm Oct 20, 2011 6:32pm
Quoting oconnor365
Hi Raz...can you include me into the Skype group please..( I promise to be very quiet lol)

cathal.oconnor1


Thanks Raz

when I get home I will add you, you dont have to be quiet by any means. But you will know when someone in there is asking stupid questions, or being stupid on purpose. I just wont tolerate it. I am very helpful once you get to know me, but when you come in and start posting things like.

Long 1.3768

And everyone is like... What? What trap? Where?

So you will be fine

RAZ
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  • #753
  • Oct 20, 2011 6:34pm Oct 20, 2011 6:34pm
Quoting laimonk
Hi Raz

Could you please take a look at the chart in post 733. I need some clarification.

The trap was 7 bars from first green circle to third green circle (11pips wide) – 14 bars to breakout of trap.

Looking at Ihor diagram – it states that the first and third circle should be at least 11bars apart – if this is the case, this setup should not have been taken, is this correct?
[FONT=Times...

Good question, the actual rejection has to occur. Once we have valid rejection points, then price must sit anywhere within trap for at least 11 candles which it does. You can have \/ like rejection or /\ rejection in 6 mins, but as long as price sits within in the price levels(or we call the trap) at least 11 mins long. Longer is always better, then we call it 'Valid"
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  • #754
  • Oct 20, 2011 6:37pm Oct 20, 2011 6:37pm
The rejection points is what dictates our upper and lower levels, and that is it. Probably the true challenge to this method. As long as price stays with in those rejection points and at least 11 mins or longer then this validates a 'trap'
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  • #755
  • Oct 20, 2011 6:40pm Oct 20, 2011 6:40pm
Quoting raz
The rejection points is what dictates our upper and lower levels, and that is it. Probably the true challenge to this method. As long as price stays with in those rejection points and at least 11 mins or longer then this validates a 'trap'
I know this has been asked before, but I didn't see an answer.

Is there anything you use to pick a long or short bias for a trap?

Or do you just take the trade, whichever side gets a close above/below the trap?
  • #756
  • Oct 20, 2011 9:16pm Oct 20, 2011 9:16pm
Quoting KumoDragon
I know this has been asked before, but I didn't see an answer.

Is there anything you use to pick a long or short bias for a trap?

Or do you just take the trade, whichever side gets a close above/below the trap?

ok if you read the thread, I will repeat. I never stated long or short bias for a trap. Once price rejection occurs, and we have established a 'valid' trap then we look for a clean close above the upper level, to signal a long position, or a clean close below the the lower level to signal a short position.
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  • #757
  • Oct 20, 2011 9:24pm Oct 20, 2011 9:24pm
Quoting raz
ok if you read the thread, I will repeat. I never stated long or short bias for a trap. Once price rejection occurs, and we have established a 'valid' trap then we look for a clean close above the upper level, to signal a long position, or a clean close below the the lower level to signal a short position.
Ok, just wanted to make sure I wasn't missing something.
  • #758
  • Oct 20, 2011 9:25pm Oct 20, 2011 9:25pm
I am not tolerating people coming into the price trap room with close to over 85 members watching and 49 actively chatting to see questions like "what is a trap?'

See you all later tonight
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  • #759
  • Oct 20, 2011 9:26pm Oct 20, 2011 9:26pm
Quoting KumoDragon
Ok, just wanted to make sure I wasn't missing something.

No problem, that is what this forum is for
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  • #760
  • Oct 21, 2011 8:45am Oct 21, 2011 8:45am
Hi Raz

good thread, i have made an add request for your skype,

this is something very similar i was experimenting with sometime back, very good approach

my skype id sami29uk

cheers

sami
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