Intraday price action trend trading
- #9,022
- Dec 7, 2011 8:42am Dec 7, 2011 8:42am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Its late night for me now.
Trade safe all.
Trade safe all.
- #9,023
- Dec 7, 2011 8:48am Dec 7, 2011 8:48am
Like today, 4 trades only, 2 good setup in Gold did make my day. other 2 were bonus.
- Good setup you have more than 50% winning ratio;
- Keep out of any trade when news come;
- Demand and Supply / support and resistance as a reference, but let the momentum leads your trade.
Quite a few line can describe how I trade now. KISS
. I'll remember it when i see myself closing trade early. Add little by little into target 
- #9,024
- Dec 7, 2011 8:54am Dec 7, 2011 8:54am
- Joined Dec 2010 | Status: Never Stop Learning | 7,362 Posts
City, how you overcome the feeling if you closed your trade, but market goes your way for more? This kind of feeling makes me want to open a forced trade/chasing the market.
You have the patience.....for waiting the setup to occur. Not to holding on to the trade
You should check out the book "Trading in the Zone" by Mark Douglas. Its all about the psychology of trading and why your emotions react the way they do. It then goes threw how to conquer your emotions for trading.
The book has helped me alot and im not even done with it yet!
- #9,026
- Dec 7, 2011 9:44am Dec 7, 2011 9:44am
I try not to have a bias and just let the PA lead me the times I've got it in my head that the market should break one way or another and totally miss what's happening in front of me. If I'm not sure what's happening I just move on to another pair and keep a close eye on developments, I think that's going to be my plan of action for AU for the time being.
This helped me picking trades with bigger RR ratio. I'm not a long term trader, but i trying to align with bigger trend.
Like EU that me & bouba discuss a week ago. EU in higher TF show momentum shifting to upside. So i intepret down movement today is corrective move on higher TF.
- #9,027
- Dec 7, 2011 10:33am Dec 7, 2011 10:33am
- Joined Dec 2010 | Status: Never Stop Learning | 7,362 Posts
- #9,030
- Dec 7, 2011 7:17pm Dec 7, 2011 7:17pm
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Thank you very much but do I just leave everything in default? And how come people like buildcity and others are trading without any keltner charts or anything Its amazing
KC shows you the approx. visual trend, per Sho's default, just keep 10 (simple moving average) in M15 play.
When you have good enough screen time, you can read the trend by means of implusive / corrective price move. I removed the KC cos I would prefer a clean chart. Take your time.
By the way, you can find the most original KC indicator from Sho's thread post one, just download it. It all default setting, don't complicate your trading decision by messing around different indicators and setting. Sometimes later on you will surely notice the price is everything you need, like RED's style (haha, I enjor his trading style).
Hope this helps.
City
- #9,033
- Dec 8, 2011 3:02am Dec 8, 2011 3:02am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
- #9,034
- Dec 8, 2011 3:22am Dec 8, 2011 3:22am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
oh cool thank you very much buildcity
But because I couldn't find the indicator KC that's why i asked but where is it on sho's thread and which thread?
but whats screen time? and who's red?
http://www.forexfactory.com/showthre...02#post3395102
For "Red" ~ search a thread named "Price is Everything"
But don't mix up the trading style
- #9,035
- Dec 8, 2011 3:41am Dec 8, 2011 3:41am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
do you really want to risk your hard earning money in next 1 or so hours?
do you really want to risk your hard earning money in next 1 or so hours?
Software you can get from fxnewsalert.com
Oh build I found out you are from HK, so you are chinese? I was born in HK but now I live in Finland and Im vietnamese
- #9,037
- Dec 8, 2011 4:10am Dec 8, 2011 4:10am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
I know about news ;D I have a software + indi that shows news xDDD.
Software you can get from fxnewsalert.com
Oh build I found out you are from HK, so you are chinese? I was born in HK but now I live in Finland and Im vietnamese
- #9,038
- Dec 8, 2011 4:59am Dec 8, 2011 4:59am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Break out trade, a small trade anyway
Trade with momentum
, a small trade anywayTrade with momentum
- #9,040
- Dec 8, 2011 5:38am Dec 8, 2011 5:38am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
hi city!
hope u dont mind me asking but i would really wanna know how you are getting ready to trade with so many news releases that about to come out.
i usually stay away and i only get into trades(if pa offer opportunities) AFTER the markets calm down from the news.
i was wondering if u place some trades during the release?
1-do u mark ur supplydemand zones and if news bring price to either of the zone u take the trade immediately?
2-do u look for our sho set up to accour ?
im just trying to get better and no other way to do so than to ask...
If I go with market order, it usually after the news, for how long after the news? watch the price and how it reacts to the news, if nothing happen, then go with the original momentum, if big move on price, re-assess the whole picture and plan again your trade.
If I really confident on certain key levels (I mean major demand / supply levels), I would be happy to place pending order.
Yes, I marked my demand / supply levels in daily basic. Just 4 charts for me so it didn't take me too much time, within few minutes can mark up all 4.
Don't trade before those major news (for me around 15 mins before to stop trading and give up any active trade, if any), it won't help you to growth your capital, but to damage your mind set to look for luck (for me around 15 mins before).
Sho did told us know all the basic 1st, then combin all into his momentum trades.
Dont know whether I have make the pts clear, do forgive my english!!
Lastly, I won't claim myself as a good trader. I'm still learning like you all.
Ohssssss, seems that I missed the GU move when I'm typing
