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Attachments: On My Way To The Top
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On My Way To The Top

  • #761
  • Oct 19, 2011 2:02pm Oct 19, 2011 2:02pm
Today was interesting and a true test of my resolve as I could see the trends exhausting themselves and wanting to go in the reverse direction along with the fact of the pairs moving like the eur being at the top of their sideways range movement so also figured they had no place to go but down and so they did but not before retesting the highs and the opposite for the usd chf and usd cad of course....but I had to patiently wait and sit through basically the entire session and wait for an entry to present itself to me as opposed to just jumping in because I knew it wanted to go down...I don't do the guessing games and need a logical place to place a stop while maintaining a good risk reward...but it all pays off as I didn't sustain any losses today and still beat my daily percent goal....that's the importance of patience and discipline....

Paul
No man is free who is not a master of himself. -P.M.-
  • #762
  • Oct 19, 2011 2:13pm Oct 19, 2011 2:13pm
target met and closed out for about 6% and eu trade that I missed would have given about the same but as it goes...so total for today is 10% and I'm done for the day...
No man is free who is not a master of himself. -P.M.-
  • #763
  • Oct 19, 2011 2:17pm Oct 19, 2011 2:17pm
target met
Attached Image (click to enlarge)
Click to Enlarge Name: nzd goal.gif Size: 37 KB
No man is free who is not a master of himself. -P.M.-
  • #764
  • Oct 19, 2011 8:00pm Oct 19, 2011 8:00pm
k-kay here you go...the alerts from today for the ctt but of course we still have to filter out which ones are legitimate entries or not and such as you know...

I took out the bsb alert because it was going off way too much and very annoying since it goes off way too much...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 47 KB
Click to Enlarge Name: au.gif Size: 46 KB
Click to Enlarge Name: gu.gif Size: 46 KB
Click to Enlarge Name: nu.gif Size: 48 KB
Click to Enlarge Name: usdchf.gif Size: 46 KB
Click to Enlarge Name: usdcad.gif Size: 45 KB
No man is free who is not a master of himself. -P.M.-
  • #765
  • Oct 19, 2011 8:32pm Oct 19, 2011 8:32pm
The Counter Trend Trade

Here is a look inside the countertrend trade or what I look at for the ideal countertrend type of trade...a closer look at the multiple time frames...and their ropes which is the foundation of the countertrend trade to find out the trades with the most strength and momentum and highest probability of going in a given direction...the rope is excellent at showing these strengths and such momentum so when used on multiple time frames with price bouncing off a resistance or support level or breaking through a significant level than it is a beastly tool at finding those good strong entry points...so that sums up what I look for in a countertrend trade...


-Paul-
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5 minute.gif Size: 41 KB
Click to Enlarge Name: 5 minute (2).gif Size: 41 KB
Click to Enlarge Name: 15 minute.gif Size: 42 KB
Click to Enlarge Name: 30 minute.gif Size: 46 KB
Click to Enlarge Name: 60 minute.gif Size: 49 KB
No man is free who is not a master of himself. -P.M.-
  • #766
  • Oct 19, 2011 8:33pm Oct 19, 2011 8:33pm
the example being used for the countertrend trade is clearly the same trade I took earlier....
No man is free who is not a master of himself. -P.M.-
  • #767
  • Oct 20, 2011 5:10am Oct 20, 2011 5:10am
For the day and going to take a nap. Will be posting trades shortly pretty nice market today as I was expecting....Makes up for a whole week of a boring market that we have had...fortunate to end the day with 20%....typical entries...
No man is free who is not a master of himself. -P.M.-
  • #768
  • Oct 20, 2011 7:28am Oct 20, 2011 7:28am
trades today
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu entry.gif Size: 51 KB
Click to Enlarge Name: nz 15.gif Size: 50 KB
Click to Enlarge Name: nz 5.gif Size: 47 KB
Click to Enlarge Name: uchf 15.gif Size: 51 KB
Click to Enlarge Name: uchf 5.gif Size: 46 KB
Click to Enlarge Name: ucad entry.gif Size: 48 KB
Click to Enlarge Name: eg entry.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #769
  • Oct 20, 2011 8:14am Oct 20, 2011 8:14am
i lied...here are my last entries for the day currently free trades still running....nice bsb with lower high coming from fib pivot I couldn't resist...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 46 KB
Click to Enlarge Name: au.gif Size: 47 KB
Click to Enlarge Name: eg.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #770
  • Oct 20, 2011 10:03am Oct 20, 2011 10:03am
three last entries finally had the bottom fall out...and making a run for it...
No man is free who is not a master of himself. -P.M.-
  • #771
  • Oct 20, 2011 10:35am Oct 20, 2011 10:35am
just exited all positions as move seems to be a bit exhausted now...and can pick back up tomorrow
No man is free who is not a master of himself. -P.M.-
  • #772
  • Oct 20, 2011 10:39am Oct 20, 2011 10:39am
Had an epiphany this morning on a method to maximize gains even further that should possibly maybe perhaps work theoretically...so will be looking at that since I'm trading with the trend anyway but just an idea nothing solid....
No man is free who is not a master of himself. -P.M.-
  • #773
  • Oct 20, 2011 10:53am Oct 20, 2011 10:53am
EU closed for +4%
EURGBP closed for +3%
AUDUSD closed for +5%

so total for today is 32%...not bad for a day's work
No man is free who is not a master of himself. -P.M.-
  • #774
  • Oct 20, 2011 11:40am Oct 20, 2011 11:40am
Excellent trades you have made man. +30 per day is really impressive.

Been studying stochastics and your thread as well as Spuds lately as you know. Really good stuff here. Been trading among other things M1, but I found it a bit unreliable and also a bit too fast for me (couple of pips here and there). M5 seems to give plenty of signals on my main trading times from London close to NY close. Im trading mostly AU in those hours and doing pretty good.

Here is a trade I just closed +30 pips, about 3%. Would be nice to hear what do you think of this? MAs a bit far from the entry, but a clear rejection from pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: au181011.gif Size: 37 KB
  • #775
  • Edited 12:30pm Oct 20, 2011 12:18pm | Edited 12:30pm
Lol in reference to the m1...that's what I was telling you in the private message a few weeks ago...and that's why I don't bother....I wouldn't say its unreliable as it can be traded successfully as I've demonstrated on here before but its just a bit too much and a bit unnecessary to put yourself through the hassle of trading the m1 unless you have the time and are quick enough to handle it...but as far as that entry it is a clear rejection of the pivot but from what it seems to me...the five minute rope wasn't completely turned over and the most part of it was a bit low for my liking and not sure what the mtf stochastics colors are but it seems like the move might be showing a bit of exhaustion at the point of entry but again not sure which time frames are which on your mtf stochs to say for sure but seems a bit risky overall)

edit...Ok just looked on my charts at that entry and yes indeed that was a very risky entry as according to the mtf stochs the move down was pretty much exhausted for the moment so it could have went either way...and when we trade we want more of an edge on our side to have a higher probability of the entry going in our desired direction...

Paul
No man is free who is not a master of himself. -P.M.-
  • #776
  • Oct 20, 2011 12:31pm Oct 20, 2011 12:31pm
Went back to basics for the past two days and was just looking at trend trades and building up some screentime looking at ctt and other trades.. made two trades early this morning both on the 15m charts, eu and ej for 2% and 3% respectively. After that I didn't want to risk anymore and spent most of the day trying to pick out some decent trades that I might have taken. I must say you are a master at this way of trading as I would have struggled to pick out most of them

Looking for the trends to continue tomorrow for some more action and some more screentime for the ctt trades.

Here's my two for today
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu1.gif Size: 29 KB
  • #777
  • Oct 20, 2011 12:35pm Oct 20, 2011 12:35pm
Quoting pmullin86
Lol in reference to the m1...that's what I was telling you in the private message a few weeks ago...and that's why I don't bother....I wouldn't say its unreliable as it can be traded successfully as I've demonstrated on here before but its just a bit too much and a bit unnecessary to put yourself through the hassle of trading the m1 unless you have the time and are quick enough to handle it...but as far as that entry it is a clear rejection of the pivot but from what it seems to me...the five minute rope wasn't completely turned over and the most...
Thanks man. It was a bit risky yes. M15 & M30 stochs oversold, but still some room to go on H1 so I figured why not. I tend to keep a smaller TP for these.
  • #778
  • Oct 20, 2011 12:44pm Oct 20, 2011 12:44pm
Quoting Whistlepips
Thanks man. It was a bit risky yes. M15 & M30 stochs oversold, but still some room to go on H1 so I figured why not. I tend to keep a smaller TP for these.
Two confounding principles or ideas to keep in mind when trading with the stochastics or I guess when trading in general...it is important to follow the money which is the higher time frames or what the institutions and such that make up the higher time frames are doing...but at the same time it is also important to recognize that the smaller time frames build up the higher time frames...again these are two opposing thoughts but one must find a middle ground or so I see it through my eyes....as they both seem right...so with that said...yes the 1 hour was still heading down but with the 30 minute 15 minute both oversold and the 5 minute so low...its pretty much saying that price on the smaller time frames are going to start retracing or going sideways or whatever the case may be...but if you have a good grasp of that particular set up than that just proves that each trader is a bit different... and what works for one may or may not work for another and visa versa...
No man is free who is not a master of himself. -P.M.-
  • #779
  • Oct 20, 2011 12:58pm Oct 20, 2011 12:58pm
Quoting pmullin86
Two confounding principles or ideas to keep in mind when trading with the stochastics or I guess when trading in general...it is important to follow the money which is the higher time frames or what the institutions and such that make up the higher time frames are doing...but at the same time it is also important to recognize that the smaller time frames build up the higher time frames...again these are two opposing thoughts but one must find a middle ground or so I see it through my eyes....as they both seem right...so with that said...yes the...
Thanks for your thoughts .
  • #780
  • Oct 20, 2011 2:37pm Oct 20, 2011 2:37pm
Quoting pmullin86
template for mtf rope if anyone might be interested...
Thanks man. Looks interesting and may take some time to figure it out.
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