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  • #2,181
  • Oct 24, 2011 9:05am Oct 24, 2011 9:05am
Quoting Incanus
i was wondering about this aud smbt setup, the setup looks good, nice rejection of the mid band, but didnt have enough space to the last recent hh so decided to wait for the next setup...

best regards!
two matter wrong there for this signal to be valid..
one you already mentioned not enough space profit margin.. two, the basic, band is defiantly not striking enough and PA has not quiet firmly broken out of the band for a sharp initial move. so you did good, but also pay attention to the band and PA's mood.
  • #2,182
  • Oct 24, 2011 9:11am Oct 24, 2011 9:11am
Quoting P.Dean
nice banks occam..

i just want to point out about one thing for feature which could save you and others from false signal.

your ej trade sbt would be one that i would not take..
for simple fact that the prior signal smbt failed and then pa crushed the high of that and surged to the top... in such case i would buy myself some time and go off the 2rf confirmation and not right away from the 1st rf like a normal sbt.. even though it looks like a normal one, but in reality its not and that hiccup in the middle normally is a warning sign..
the normal...
That makes perfect sense PD, thanks for pointing that out. I was thinking about waiting for the 2nd RF signal on that one...

I also didn't take the GU due to that bull candle that went to the straight to the band. Glad you said you took it, I was watching the GU when I was in the EJ trade and thinking I've jumped on the wrong horse here. I will be ready for him next time...
  • #2,183
  • Edited 9:36am Oct 24, 2011 9:17am | Edited 9:36am
Quoting occamsrazors
That makes perfect sense PD, thanks for pointing that out. I was thinking about waiting for the 2nd RF signal on that one...

I also didn't take the GU due to that bull candle that went to the straight to the band. Glad you said you took it, I was watching the GU when I was in the EJ trade and thinking I've jumped on the wrong horse here. I will be ready for him next time...

your welcome.. i just try to point out the little important details as i see you guys process.

that is why one can get more help and more out of this when is more active and shows charts.. If i had not seen occams chart i would not had no idea to point that out to him, that all.


dt5 i am working on preparing that chart for you to understand in full.. be out in a minute.
  • #2,184
  • Oct 24, 2011 9:23am Oct 24, 2011 9:23am
Quoting P.Dean
two matter wrong there for this signal to be valid..
one you already mentioned not enough space profit margin.. two, the basic, band is defiantly not striking enough and PA has not quiet firmly broken out of the band for a sharp initial move. so you did good, but also pay attention to the band and PA's mood.
Yes i'm having a hard time to read PA today...

thanks!!!
  • #2,185
  • Oct 24, 2011 9:29am Oct 24, 2011 9:29am
Quoting daytrade5
P.Dean...I apologize but this little nugget is not sinking in. Is there any way that you can explain this with a chart whenever you get a chance??
ok here is the chart for it... while you read this constantly look at my chart..

it all looks pretty self explanatory about my #1 and #2 explanations on the post that you pointed out... firstly before considering a counter trade off the initial swing i want to see a reaction to the mid band with a pullback.. in some cases that does not happen, like today.. so now lets look into #2.. i want you to look at the circle shade area that i have marked on the chart.. you see that sharp move to the LL which it turned to crush the LL for a break out.. right there i have drawn a bounce shape.. this is what i look for if i consider going long for counter rfct trade.. i look for reaction to the most recent LL to show weakness then take the long on the following rf confirmation if i had not broken out.

i hope its clear now..
Attached Image (click to enlarge)
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  • #2,186
  • Oct 24, 2011 9:57am Oct 24, 2011 9:57am
Quoting P.Dean
ok here is the chart for it... while you read this constantly look at my chart..

it all looks pretty self explanatory about my #1 and #2 explanations on the post that you pointed out... firstly before considering a counter trade off the initial swing i want to see a reaction to the mid band with a pullback.. in some cases that does not happen, like today.. so now lets look into #2.. i want you to look at the circle shade area that i have marked on the chart.. you see that sharp move to the LL which it turned to crush the LL for a break out.. right...
crystal.....thanks PD!!!
"Amat Victoria Curam" Victory Loves Preparation
  • #2,187
  • Oct 24, 2011 10:08am Oct 24, 2011 10:08am
ok boys i am out, quiet tired...
i am proud of myself for actually sitting my ass down for a almost a full London session, lol.. its rare for me these days to do this anymore, but i enjoyed it with you all around and made some money as well..
i had only two trades as i think at best there were only a few available anyways and i took the two best ones.. i did poorly on the exit on both though.. I managed to completely screw up the ej trade and played poorly the gu one where i could have made better profitable exit.. it happens,
anyways 2-0 for +25..
however, the key for todays success was based on the filtering of the false signals (quite a bit of them today) which could have doomed the day pretty bad from the get go.. and i took care of that pretty clean and nicely.. I hope you all picked up key details about it as i tried to explain them live while my time was not occupied with normal trade managements.

ok we roll tomorrow.. cya.
  • #2,188
  • Oct 24, 2011 4:47pm Oct 24, 2011 4:47pm
When do you start conting the 3rftc from? Is it from a support or restance area. I see from the chart PD posted where hestarted to count. Is there another example..
Thanks
  • #2,189
  • Oct 24, 2011 6:04pm Oct 24, 2011 6:04pm
Quoting sandrail
When do you start conting the 3rftc from? Is it from a support or restance area. I see from the chart PD posted where hestarted to count. Is there another example..
Thanks
Hi Sandrail. You start counting from the last high in an uptrend or low in a downtrend. You want to get 3 RF signals in the countetrend direction without breaking the prior high or low. But as PD said today if PA is at the start of trend ie has just broken out from neutral bands you also want to see a bounce off the midband somewhere either before or during your count. And you want your last RF signal candle to close inside the bands.

In his example in post 2185 you got the 3 long signals before PA bounced off the midband which made a trade after the 3rd signal risky. PD was looking for the double bottom to form on that one and get another RF signal long to give a 3RFTC trade without PA breaking the low but it didn't.

Check out posts 1420 1425 1428 where they were first mentioned and 1483 1484 and 1759...hope that helps
  • #2,190
  • Oct 24, 2011 6:19pm Oct 24, 2011 6:19pm
Thx
  • #2,191
  • Oct 24, 2011 8:42pm Oct 24, 2011 8:42pm
test for posting a chart
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  • #2,192
  • Oct 25, 2011 12:11am Oct 25, 2011 12:11am
Good day,

New to this thread and many thanks to PD for sharing this simple PA method.

I'm not sure if the following chart shows a valid 3rfct trade setup.
Am i right to set stop loss at the low of the LL and TP at the top band?
Thanks for the advises in advance.

http://imageshack.us/photo/my-images/685/3rfcteu25102011.jpg/


http://imageshack.us/photo/my-images...u25102011.jpg/
  • #2,193
  • Oct 25, 2011 12:48am Oct 25, 2011 12:48am
Quoting atgmer
Good day,

New to this thread and many thanks to PD for sharing this simple PA method.

I'm not sure if the following chart shows a valid 3rfct trade setup.
Am i right to set stop loss at the low of the LL and TP at the top band?
Thanks for the advises in advance.

http://imageshack.us/photo/my-images/685/3rfcteu25102011.jpg/


http://imageshack.us/photo/my-images...u25102011.jpg/
Hi atgmer

I'm not sure exactly where you thought the 3RFCT trade was? You have labelled 3 RF signals there but you can see price has already gone to the top band inbetween those signals so no trade at your 3rd RF signal if thats what you mean. Check those posts by PD I listed a couple of posts ago to sandrail to get a better understanding of it...
  • #2,194
  • Oct 25, 2011 12:54am Oct 25, 2011 12:54am
Those post will really help you out. This is a thread where you have to dig into it to find the important parts. I came across this about a week ago and have been following along learning a little each day.. I think it will be worth the effort.
  • #2,195
  • Oct 25, 2011 1:19am Oct 25, 2011 1:19am
Morning everyone,

lets do it...

quick recap..
PA is flat but active inside the band with a slight bearish look on some majors, which don't mean a whole a lot..
I take my time to see some more in early eu session..

best of luck to everyone today.. lets work together


(especial thanks to occam and others for helping/guiding the newbies)
  • #2,196
  • Oct 25, 2011 1:35am Oct 25, 2011 1:35am
Quoting P.Dean
Morning everyone,

lets do it...

quick recap..
PA is flat but active inside the band with a slight bearish look on some majors, which don't mean a whole a lot..
I take my time to see some more in early eu session..

best of luck to everyone today.. lets work together


(especial thanks to occam and others for helping/guiding the newbies)
No probs at PD

Here is my first trade today. I considered it an NBT (not an ideal example it must be said). I had support at 94 where I had my previous low. PA tried to break support but gave a strong candle back up (not great M5 double bottom but it looked better on M15). The bands were still fairly flat. Only other thing that concerned me was entry was right at round number, but there was plenty of room back across the range, which it did. 16 pips...
Attached Image (click to enlarge)
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  • #2,197
  • Oct 25, 2011 1:40am Oct 25, 2011 1:40am
gu live smbt..
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  • #2,198
  • Oct 25, 2011 2:35am Oct 25, 2011 2:35am
Quoting P.Dean
gu live smbt..

out for BE... example of a poorly managed trade..

i guess I was expecting a less of constipated market.. lol
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  • #2,199
  • Oct 25, 2011 2:51am Oct 25, 2011 2:51am
I am an absolute newbie to FF and forex in general. Thanks to PD and also the rest of you who take your time to post and teach us newbies the do's and dont's.
I have one quick question before I 'jump back in class'

I get the bearish sound alert but not the bullish sound alert - What do I do to get the bullish sound alert? if I open the 'alerts' I cant see either one....

Since I am NOT a tech guy.....please help.

Again, thanks PD and also the rest of you.
  • #2,200
  • Edited 3:06am Oct 25, 2011 2:54am | Edited 3:06am
I often have Bloomberg tv or CNBC on in my office, mostly to keep up with world news and sudden stuff not by any means for recommendations or their analyses.. and one of the guys who is rather famous his name is something Santali some of you may know him he is known often to go a rage and its funny to watch like the Kramer guy, but overall he is a good annalist.. anyways, he said something really meaningful yesterday though..
bunch annalist were talking about some trend on a stock on a overall discussion and one of the guys was really hot about it.. this Santali guy turned to him and said:
Hey, Titanic was going great too, if it wasn't for the iceberg!!.. lol.

it severely relates to what we do as traders IMHO.. get the point!

I thought i share this since i was reminded by the market once again when i got stumped on my GU trade so badly as my expectations was not kept in check.


cheers.. no worries, lets roll
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