Intraday price action trend trading | Page 440 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MultiTimeFrame Trend Trading with Price Action 242 replies

Any Recommendations on Learning Intraday Price Action Trading 5 replies

Price Pattern Notifications/Trend Alert Price Action Scanner 7 replies

Trend following intraday breakout - my trading journal 11 replies

intraday trend trading with price action 2,063 replies

Attachments: Intraday price action trend trading
Exit Attachments

Intraday price action trend trading

  • #8,781
  • Nov 23, 2011 4:54pm Nov 23, 2011 4:54pm
Btw, at least i'll keep sl of 6 ticks.
  • #8,782
  • Nov 23, 2011 5:01pm Nov 23, 2011 5:01pm
Quoting PandaBBQ
Btw, at least i'll keep sl of 6 ticks.
u sure 6 pips good for u?


tight is good but istn that too tight? do u set sl based on market levels or only that majic 6 pips?
Have I got something on my face, SOLDIER?
  • #8,783
  • Nov 23, 2011 6:13pm Nov 23, 2011 6:13pm
Quoting bumapatria
u sure 6 pips good for u?


tight is good but istn that too tight? do u set sl based on market levels or only that majic 6 pips?
U know I mainly trade emini futures on 2min chart, sl is around 6-9 ticks, no more than 9 ticks. And im happy to re-enter if im stopped out at a right direction. It works for me.

FX is quite different coz the widen spread, i believe should not bigger than 12pips for scalping.

If u spend some time on PA trading, u'll see (I think u'v already found) there r several type of trading styles. For Supply&Demand method, like what Red does, his sl is quite bigger coz he targets a zone. For scalping, sl of 10pips is very common, escpecial for futures trading.

Sl is not the point, RR is more important then it. Find the one suit for u and stick to it!
  • #8,784
  • Nov 24, 2011 12:40am Nov 24, 2011 12:40am
Quoting Nanitoide
Hello!
My day trading:

Result: +605 pips.
Congratulation Nanitoide. However, you may forgot the correlation of 3 pairs. IMO, your winners base on the strong of USD. AUD is the weakest, then GBP and EUR. I don't want to annoy you but what would happen if USD became weaker? 3 losses. We don't want that situation, so try to minimize the risk first.

My advice: if you are in the trade of XXX/YYY pair, do not take the others trade relate to both of XXX or YYY until you are at least break even in the first trade.
  • #8,785
  • Nov 24, 2011 12:49am Nov 24, 2011 12:49am
Quoting Gravi
heh.. that's the big bear flag breakout .. and you played just inside the flag really nice channel play..
but you hold 2 long the trade while it was "loosing".. what about sho's "3 negative bars" rule?
I agree with Gravi. I sometimes make this mistake too . Intraday trading is fast and we need momentum. If price doesn't go in our direction, chance is it will go against us. The longer we are in the trade, the more stress, panic we are and the less disciplined we are.
  • #8,786
  • Nov 24, 2011 2:00am Nov 24, 2011 2:00am
Thank you guys!

Ok, i think i have to look a bit more for bars like boubafx showed in the grey areas. It is what Sho called Momentum, itsnīt it?

Would someone take the first PB i marked on boubafx chart? At this moment we dont know it would be a looser, or am i wrong? At the Entry3 hangman and entry4 PB is there bullish momentum? Is this a valid entry (3+4)?

Ok, PandaBBQ i will try to wait for a pullback or retest. Hope the market wont run away;-)
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 140 KB
  • #8,787
  • Nov 24, 2011 2:54am Nov 24, 2011 2:54am
Quoting simplicity
Congratulation Nanitoide. However, you may forgot the correlation of 3 pairs. IMO, your winners base on the strong of USD. AUD is the weakest, then GBP and EUR. I don't want to annoy you but what would happen if USD became weaker? 3 losses. We don't want that situation, so try to minimize the risk first.

My advice: if you are in the trade of XXX/YYY pair, do not take the others trade relate to both of XXX or YYY until you are at least break even in the first trade.
What you said is very very important .

I have exactly the same conservative approach
I hear and I forget. I see and I remember. I do and I understand.
  • #8,788
  • Nov 24, 2011 2:59am Nov 24, 2011 2:59am
Quoting simplicity
I agree with Gravi. I sometimes make this mistake too . Intraday trading is fast and we need momentum. If price doesn't go in our direction, chance is it will go against us. The longer we are in the trade, the more stress, panic we are and the less disciplined we are.
There is not only one truth with trading. The 3 bars Sho's rule suit for some traders, and others have better results when they not respect this rule.

The important is not to have the same rules as Sho, the most important is to have our own rules (which suit us) and alway respect them in each of our own trades.
I hear and I forget. I see and I remember. I do and I understand.
  • #8,789
  • Nov 24, 2011 3:11am Nov 24, 2011 3:11am
Quoting boubafx
There is not only one truth with trading. The 3 bars Sho's rule suit for some traders, and others have better results when they not respect this rule.

The important is not to have the same rules as Sho, the most important is to have our own rules (which suit us) and alway respect them in each of our own trades.
bouba is very correct on thsi one. its about knowing oneself, being oneself, but improving oneslef due to others' knowledge and being flexible and water-like as possible. trade almost without thinking, buy and sell all with no nervosity

great post bouba
Have I got something on my face, SOLDIER?
  • #8,790
  • Nov 24, 2011 3:47am Nov 24, 2011 3:47am
Quoting Clean Chart
Thank you guys!

Ok, i think i have to look a bit more for bars like boubafx showed in the grey areas. It is what Sho called Momentum, itsnīt it?

Would someone take the first PB i marked on boubafx chart? At this moment we dont know it would be a looser, or am i wrong? At the Entry3 hangman and entry4 PB is there bullish momentum? Is this a valid entry (3+4)?

Ok, PandaBBQ i will try to wait for a pullback or retest. Hope the market wont run away;-)
Look my charts. Hope it could help.

You can see on these chart that it is very important to have: Technical entry, technical stop and technical TP.

You must learn too when move your stop to BE, it's a very very important thing. Sho tell us al around the thread that a large part of success in trading is made by a good trade management.

At first i won't understandood very well this message, today i tell me he was so right to insist on this point.

I work a lot on trade management nowdays: when move the stop at BE, how scale out my position, how with PA decided to kill a trade.

It's a very difficult part of trading for me, bcs as everybody, i want to not be stopped, and i want to catch the best amount of pips for each trade. Difficult subject and also lots of work and screen time!!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej3.jpg Size: 146 KB
Click to Enlarge Name: ej4.jpg Size: 107 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #8,791
  • Nov 24, 2011 11:11am Nov 24, 2011 11:11am
Quoting simplicity
Congratulation Nanitoide. However, you may forgot the correlation of 3 pairs. IMO, your winners base on the strong of USD. AUD is the weakest, then GBP and EUR. I don't want to annoy you but what would happen if USD became weaker? 3 losses. We don't want that situation, so try to minimize the risk first.

My advice: if you are in the trade of XXX/YYY pair, do not take the others trade relate to both of XXX or YYY until you are at least break even in the first trade.
It is important for me. Thank you for your comment, simplicity!
"To become a pro you have to think like a pro". Sho
  • #8,792
  • Nov 25, 2011 8:28am Nov 25, 2011 8:28am

Hello all. I want to thank Sho for sharing his method, and all of other senior traders here who have provided suggestions and feedback about trading with this method. I've been following & studying from his 1'st thread silently and practice.

I'm currently on "real-demo" transition stage, after succesfully trade with demo account. I know, success on demo acc doesn't meant anything until proven on real acc. The psychology factor & the pressure really different from the demo .
I'll post some of my trade here. I hope we can discuss and share thought about trading.

Happy trading all
  • #8,793
  • Nov 25, 2011 10:28am Nov 25, 2011 10:28am
Quoting pipmunks

Hello all. I want to thank Sho for sharing his method, and all of other senior traders here who have provided suggestions and feedback about trading with this method. I've been following & studying from his 1'st thread silently and practice.




I'm currently on "real-demo" transition stage, after succesfully trade with demo account. I know, success on demo acc doesn't meant anything until proven on real acc. The psychology factor & the pressure really different from the demo .
I'll post some of my trade here. I hope we can discuss...
I think the best to go from demo to real is simply to begin with a 15$ account and grow it day after day with proper method and MM. The only risk is to loose few dollards, so no psychology factor at the beginning.

i know some traders on FF have been able (and severals time) to grow a 15$ account into a 5000$ in about 10 month (about 3% per day).

The power of compounding...........

So, you can learn to master your emotions bcs your position size grow just a little each day
I hear and I forget. I see and I remember. I do and I understand.
  • #8,794
  • Nov 25, 2011 11:03am Nov 25, 2011 11:03am
Quoting boubafx
I think the best to go from demo to real is simply to begin with a 15$ account and grow it day after day with proper method and MM. The only risk is to loose few dollards, so no psychology factor at the beginning.

i know some traders on FF have been able (and severals time) to grow a 15$ account into a 5000$ in about 10 month (about 3% per day).

The power of compounding...........

So, you can learn to master your emotions bcs your position size grow just a little each day
I'm already open live acc with small acc, and training my emotions with live trade. Position size really affect my decision on trade management, sometimes makes me really want to close profitable position too early. So I strictly stick with max 2% risk per trade rule, with target 4-6% daily.

Here's my recent trade (not really Sho's momentum method trading). USDCAD buy in support area.
Attached Image (click to enlarge)
Click to Enlarge Name: temp.gif Size: 28 KB
  • #8,795
  • Nov 25, 2011 12:16pm Nov 25, 2011 12:16pm
Happy Thanksgiving~
  • #8,796
  • Nov 28, 2011 8:34am Nov 28, 2011 8:34am
I take the time to post a today's trade; Many confluences.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 66 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #8,797
  • Nov 28, 2011 8:54am Nov 28, 2011 8:54am
hi bouba!!!!

i just thought to post my trade on the euro as contnuation to ur post above
it was just a scalp and i got out after the 3 lower wicks candles.

have a great day guys!!will pop in here again if i have any nice trades worth posting.
Attached Image (click to enlarge)
Click to Enlarge Name: eutrade.png Size: 336 KB
  • #8,798
  • Nov 28, 2011 9:14am Nov 28, 2011 9:14am
Quoting elliotrader
hi bouba!!!!

i just thought to post my trade on the euro as contnuation to ur post above
it was just a scalp and i got out after the 3 lower wicks candles.

have a great day guys!!will pop in here again if i have any nice trades worth posting.
Hi Elliot,

Your entry is just after my first out EU trade.

And my second entry is just after your out EU trade.

We follow us on this EU pair!!!!!

This one is a BE.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 80 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #8,799
  • Nov 28, 2011 9:23am Nov 28, 2011 9:23am
this last short trade u had on the euro was a great set up.u will notice the lower wicks right before the candle u had shorted.those wicks indicating compression,meanning demand is being consumed,therfor,price will have no problem to drop......as u can see ,price indeed had no prblems falling.
i was looking at this and try to short it myself but my internet kept getting disconnected and i missed this trade as well.
  • #8,800
  • Nov 28, 2011 9:29am Nov 28, 2011 9:29am
Retest of the broken TL.

2/3 position out with good profit in the bank.

i will try the runner and gap closed with 1.3245 TP for the last part.

Very vey big bet,i'm totally fool but lets see. This last position is now at BE so no risk.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 77 KB
I hear and I forget. I see and I remember. I do and I understand.
4 traders viewing now