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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #7,201
  • Dec 7, 2011 9:26am Dec 7, 2011 9:26am
Quoting jupiter_peak
although there was a bull wedge on H1...
I was aiming for another leg down, targeting the TP based on diamond BO but the market had other plans. The setup was good IMO but one could handle the floating profit more conservative.
Measure twice, cut once
  • #7,202
  • Dec 8, 2011 2:16am Dec 8, 2011 2:16am
Hi all, a very good day to you all. I have been following this thread for a while (the only tread I follow). Absolutely new and paper trading so far. I have a question to ask and hope you can help me out. I have this delimma after placing a trade. As per Igor's method, do you shift your stop loss as the price move or you stay put while waiting for the average range to play out? I know there is not one fixed answer but would like to hear how your seniors do it. Several times I could have pocketed 20 to 30 pips but it ended up hitting my SL. Thanks.
  • #7,203
  • Dec 8, 2011 4:29am Dec 8, 2011 4:29am
Quoting Ekys
Hi all, a very good day to you all. I have been following this thread for a while (the only tread I follow). Absolutely new and paper trading so far. I have a question to ask and hope you can help me out. I have this delimma after placing a trade. As per Igor's method, do you shift your stop loss as the price move or you stay put while waiting for the average range to play out? I know there is not one fixed answer but would like to hear how your seniors do it. Several times I could have pocketed 20 to 30 pips but it ended up hitting my SL. Thanks....
If the trade was taken considering low probability that your SL will be hit the same day, then moving it just deny the whole idea from the beginning ....

My 2 cents
  • #7,204
  • Edited 6:06am Dec 8, 2011 5:09am | Edited 6:06am
EURUSD has just changed the MM to down. Which means we can now look to use template 18.4.

By the way: GBPCHF already on the run.
  • #7,205
  • Dec 8, 2011 5:16am Dec 8, 2011 5:16am
Looks like a continuation diamond on EUR/GBP, if this will work then eur and gbp should go in different directions again i guess :nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-08_13-16_EURGBP.jpg Size: 73 KB
  • #7,206
  • Dec 8, 2011 5:23am Dec 8, 2011 5:23am
Quoting Ekys
Hi all, a very good day to you all. I have been following this thread for a while (the only tread I follow). Absolutely new and paper trading so far. I have a question to ask and hope you can help me out. I have this delimma after placing a trade. As per Igor's method, do you shift your stop loss as the price move or you stay put while waiting for the average range to play out? I know there is not one fixed answer but would like to hear how your seniors do it. Several times I could have pocketed 20 to 30 pips but it ended up hitting my SL. Thanks....
Welcome here. It all depends up on the initial plan. The RR (reward ratio) you are going for, the TP point and the money management you have. Moving SL is a possibility but only to one side - closer to the entry point or hiding it behind new swings to save some floating profit. As always it all depends on the given situation. But I wouldn't recommend to do the other way and making the SL bigger while in a learning stage. Hope that helps.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #7,207
  • Dec 8, 2011 8:15am Dec 8, 2011 8:15am
Just love the USDCHF market today! For me it visually reflects Igrok's view of "market in constant motion" in full .
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-08_16-18_USDCHF.jpg Size: 58 KB
  • #7,208
  • Dec 8, 2011 8:24am Dec 8, 2011 8:24am
Quoting PutaMadre
Just love the USDCHF market today! For me it visually reflects Igrok's view of "market in constant motion" in full .
Yeah trully amazing. Took only the ID short, the IW long was too late for it didn't even see it as I was focuesd on shorting this thing. Good I took profit, a quick 4.5R.

Btw, both setups were also supported by technicals, trendline break + tests, and clear S/D levels.

Am wondering how well we'd be doing if we'd be waiting only for setups that have all for them: technicals, timing, trend & good feel.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.png Size: 31 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,209
  • Dec 8, 2011 8:29am Dec 8, 2011 8:29am
Quoting soso
Yeah trully amazing. Took only the ID short, the IW long was too late for it didn't even see it as I was focuesd on shorting this thing. Good I took profit, a quick 4.5R.

Btw, both setups were also supported by technicals, trendline break + tests, and clear S/D levels.

Am wondering how well we'd be doing if we'd be waiting only for setups that have all for them: technicals, timing, trend & good feel.
Nice , btw EUR/USD IW setup was really cool also - 4.5R in an eye blink
  • #7,210
  • Dec 8, 2011 8:33am Dec 8, 2011 8:33am
Quoting PutaMadre
Nice , btw EUR/USD IW setup was really cool also - 4.5R in an eye blink
Yeah for sure, I'm a bit dissapointed I didn't see it eariler, but it's cool though, week is done.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,211
  • Edited 10:14am Dec 8, 2011 10:00am | Edited 10:14am
Well here they are just today:

AUDUSD IW
AUDCAD IW
EURUSD IW
USDCAD IW
EURGBP ID
CHFJPY ID
GBPCHF ID
  • #7,212
  • Dec 8, 2011 12:22pm Dec 8, 2011 12:22pm
Quoting jupiter_peak
Well here they are just today:

AUDUSD IW
AUDCAD IW
EURUSD IW
USDCAD IW
EURGBP ID
CHFJPY ID
GBPCHF ID
Just one comment: Not that one would take ALL of these especially since the the USD was/is gaining against the majors... so, the discretionary (common sense) aspect of Igroks templates should be in use.

;-)
  • #7,213
  • Dec 8, 2011 12:40pm Dec 8, 2011 12:40pm
E/A. IW is in progress too. 100% ADR supporting the idea.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #7,214
  • Dec 9, 2011 4:32am Dec 9, 2011 4:32am
For those of you who didn't jump into EURUSD IW short, the AWR seems small and an extension is very likely today.

Given the fact that price is closer to the low of the week and the weekly main move is down, I'd say that the odds are greater that we have further expansion south.
  • #7,215
  • Dec 9, 2011 4:53am Dec 9, 2011 4:53am
Hi,
Thanks for the responses. It sure helps.

I have entered 2 trades (both 18.4) today and would like your comments on whether I am doing correctly. Appreciate and thanks.

EurUsd
Sell 1.3343 (ID high, yesterday's high was too far away)
SL 1,3373 (30pips)
TP 1.32860 (ID low)

EurGbp
Sell 0.85215 (yesterday's high)
SL 0.85515 (30pips)
TP 0.84608 (lower TL)
Got stop out as I was typing.

Great if you can help me point out obvious flaws.
  • #7,216
  • Dec 9, 2011 5:11am Dec 9, 2011 5:11am
Quoting jupiter_peak
For those of you who didn't jump into EURUSD IW short, the AWR seems small and an extension is very likely today.

Given the fact that price is closer to the low of the week and the weekly main move is down, I'd say that the odds are greater that we have further expansion south.
I don't know if it will make sense to anyone, but after checking EURUSD weekly bar history it looks that 3 weekly inside bars in a row is very unusual thing for the pair, so extension seems very likely thing to happen today... Anyway it's just a simple stats
  • #7,217
  • Dec 9, 2011 5:15am Dec 9, 2011 5:15am
Quoting jupiter_peak
For those of you who didn't jump into EURUSD IW short, the AWR seems small and an extension is very likely today.

Given the fact that price is closer to the low of the week and the weekly main move is down, I'd say that the odds are greater that we have further expansion south.
The market can change its odds in he blink of an eye. ;-)
  • #7,218
  • Dec 9, 2011 5:38am Dec 9, 2011 5:38am
Quoting PutaMadre
I don't know if it will make sense to anyone, but after checking EURUSD weekly bar history it looks that 3 weekly inside bars in a row is very unusual thing for the pair, so extension seems very likely thing to happen today... Anyway it's just a simple stats
Choosing which way is the question right now...
  • #7,219
  • Dec 9, 2011 8:08am Dec 9, 2011 8:08am
Possible diamond in play on USDCHF daily, h4 frame...
  • #7,220
  • Dec 9, 2011 8:24am Dec 9, 2011 8:24am
Gold with an 18.4 golden opportunity.

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