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The System III (Oh no!)

  • #1,321
  • Nov 30, 2011 3:46pm Nov 30, 2011 3:46pm
Quoting sam5682
Hi ! Feb, I think you said somewhere that you look at intermarket analysis, right ? If so do you look at the big contracts like ES, ZN and ZB, CL, GC... ? Still following what you're saying here even if I'm more looking for fractals at daily charts. Have fun
Yes I do. That's something I teach.
Peace
  • #1,322
  • Edited 11:35pm Nov 30, 2011 10:46pm | Edited 11:35pm
My current short trade.


EDIT: out BE
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  • #1,323
  • Dec 1, 2011 12:27am Dec 1, 2011 12:27am
Morning all,
thanks for replies the other day feb and dim,
Just another quick question, how do you decide on your TP and SL, im guessing take profit would be slightly before the next level of support/resistance?
Any help appreciated
  • #1,324
  • Edited 12:57am Dec 1, 2011 12:42am | Edited 12:57am
Quoting robthorp
Morning all,
thanks for replies the other day feb and dim,
Just another quick question, how do you decide on your TP and SL, im guessing take profit would be slightly before the next level of support/resistance?
Any help appreciated
Hello!

I would try to help you.

see - SL and TP just have to be not at exactly levels area.

What I mean - imagine your trade is short, based on rejection off resistance level. So - you wait for the market show its hands (a little bounce off leve, or start of bounce off level) and go short. Your entery would be a little lower than level. And your SL would be a little higher than that level. I mean - you give some distance to it, some room (you could measuring it this way - the market shouldn't stop you if it makes just 2 or 5 pips move against you), the better choice would be not to make hard rule how much pips it shoould be.... just by looking at chart you will make decision to place it 8 pips above the levelfor example, or 15 pips if the swings are wider.

SL is about price level. Not about candles formations, dodjis etc.

About TP - you should place it not exactly at next level, but a little above it (remember we talk about short trade here, and your take profit would be at support level, above it).


Hope it helps.
  • #1,325
  • Edited 1:59am Dec 1, 2011 1:37am | Edited 1:59am
Look at these two pictures...

Do you remeber that move high (aka trend up) is higher highs + higher lows?
Do you remeber that move down (aka trend down) is lower lows + lower highs?

So... look at first chart (30 min.)

There you have res. level - 3468, and sup. level - 3421. Levels are pretty close to each other, so it is a little tough to identify the moves between these levels. White lines up and down shows directions of price between levels.


Now look at the second chart (5 min.)

The same res./sup. levels, but in a more "zoomed" mode. Here you see the price action more clear. Here you can see "flow", and go with the flow.
Again - do you see thoses higher highs + higher lows and lower lows + lower highs???????? They are pretty clear at 5 min chart. Yeah?

The white lines up and down are the same like at 30 min. chart. But here they have more sence, right?

At second chart (5 min.) I think it is more relaxed to see rhytm of those moves thorough up and dpwn candles, their bodies, wicks etc....


Hope it helps!
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  • #1,326
  • Dec 1, 2011 1:57am Dec 1, 2011 1:57am
Quoting dim4ik42
Look at these two pictures...

Do you remeber that move high (aka trend up) is higher highs + higher lows?
Do you remeber that move down (aka trend down) is lower lows + lower highs?

So... look at first chart (30 min.)

There you have res. level - 3468, and sup. level - 3421. Levels are pretty close to each other, so it is a little tough to identify the moves between these levels. White lines up and down shows directions of price between levels.


Now look at the second chart (5 min.)

The same res./sup. levels, but in a more "zoomed" mode. Here...

Now...

look at these two charts.

The blue areas at first chart (5 min.) are exactly areas of entry-exit. At first - they are in areas of Support-Resistance levels. At second, if you remember what higher highs + higher lows and lower lows + lower highs is - then you should easy to see (and to feel of corse) where the move "aka trend" begins to change its direction and starts to go other way.

So - you spot these pivotal points and take your trades off them.

At second chart (30 min.) you can see how these points looks like in the bigger picture.


Master. I hope I understand all this right in order to explain for newbies?
I could be wrong of course, but this is how I see and understand this for now.

Thank you!
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  • #1,327
  • Dec 1, 2011 2:33am Dec 1, 2011 2:33am
Quoting dim4ik42
Hello!

I would try to help you.
Yep thats exactly what i was looking for thankyou!
+ the charts helped also, i had a rough understanding of spotting the trends, but i always seem to spot them too late haha, your explanation has helped
  • #1,328
  • Dec 1, 2011 3:10am Dec 1, 2011 3:10am
here is my trade short...

Hope it will hit my target down...lol
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  • #1,329
  • Dec 1, 2011 3:59am Dec 1, 2011 3:59am
we're going to have a rocky ride this morning!
Peace
  • #1,330
  • Dec 1, 2011 4:14am Dec 1, 2011 4:14am
How much are you guys usually in the trade for? for example will you risk 1% of account per trade, or varies each time?
regards, rob
  • #1,331
  • Dec 1, 2011 4:19am Dec 1, 2011 4:19am
Quoting robthorp
How much are you guys usually in the trade for? for example will you risk 1% of account per trade, or varies each time?
regards, rob
All depends...1-2% average is a standard rule.

If I have a profitable day-week etc. and I see more opportunities for trading, I "normally" decrease my load. Always keep an eye on your bottom line.
Peace
  • #1,332
  • Dec 1, 2011 4:38am Dec 1, 2011 4:38am
Hi there,
first a big thankyou to Feb for this trading method. I am truly grateful for all your hard work. I'm a long time ff lurker but don't post too often as you can see but am hoping to share some charts with you guys going forward.
Please be gentle as I get used to this bt heres how I interpret things this am.

The 1st and 2nd arrows are my entry and exit of a trade I took this morning after reading this method over the past few days and I'm now out of the market. I'm thinking resistance/breakout at 1.3500 and new support at 1.3470?
Any thoughts?
Dave.
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  • #1,333
  • Edited 5:41am Dec 1, 2011 5:23am | Edited 5:41am
Heres my current demo trade,
sorry if my chart is a bit blured,
I appreciate since i decided to enter the demo trade the price has gone against me and through my stoploss, but i thought ide post the chart to see if i had made a fault for placing the trade?
The orange lines are my entry(mid line) stop loss and take profit, i have to mark this out manually as my demo broker is not linked to my data feed.
I thought the bar before my entry was a bounce of resistance

EDIT: i redeemed myself took a nice 20 pip gain, going short on the resistance level the bar which took out my previous stoploss hit, i guess there is more than 20 pip to take out of that move, but a win is a win!
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  • #1,334
  • Dec 1, 2011 5:42am Dec 1, 2011 5:42am
Quoting TradingDrunk
Hi there,
first a big thankyou to Feb for this trading method. I am truly grateful for all your hard work. I'm a long time ff lurker but don't post too often as you can see but am hoping to share some charts with you guys going forward.
Please be gentle as I get used to this bt heres how I interpret things this am.

The 1st and 2nd arrows are my entry and exit of a trade I took this morning after reading this method over the past few days and I'm now out of the market. I'm thinking resistance/breakout at 1.3500 and new support at 1.3470?
Any...
Dave.

I think 3460-65 looks better for support.

3500 has been crossed many times - I won't count on that level.

85 is holding - Report came out negative...
Peace
  • #1,335
  • Dec 1, 2011 5:46am Dec 1, 2011 5:46am
Guys

Be careful with reports/news etc. Especially when you have something at 8:30 and 10:00 like today.
Peace
  • #1,336
  • Dec 1, 2011 5:48am Dec 1, 2011 5:48am
Thanks for the feedback.
Currently short at 1.3511.
No doubt you can read this in an hour or so as I'm still a junior member and posts have to be moderated manually.
  • #1,337
  • Dec 1, 2011 6:06am Dec 1, 2011 6:06am
Quoting TradingDrunk
Thanks for the feedback.
Currently short at 1.3511.
No doubt you can read this in an hour or so as I'm still a junior member and posts have to be moderated manually.

It's ok - your assessment is good so far... 3511 short was a good trade definitely. They key is to become an expert spotting levels.

Keep and eye @80-85 area...I am sitting on my hands - ISM report is coming...
Peace
  • #1,338
  • Dec 1, 2011 6:18am Dec 1, 2011 6:18am
would be safe to trade after 10:30 AM. The big guns are in pause to see how the ISM comes out....
Peace
  • #1,339
  • Dec 1, 2011 6:43am Dec 1, 2011 6:43am
Let's see that level how is gonna play out.. Drawn off 15M chart
If I'll trade this.. I would put half load

all the best,
chriz
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  • #1,340
  • Dec 1, 2011 7:40am Dec 1, 2011 7:40am
I have my eyes on 60-65 level...
Peace
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