Attachments: Intraday price action trend trading

Intraday price action trend trading

#9,081
Dec 12, 2011 5:58am Dec 12, 2011 5:58am

adianto
| Commercial User | Joined Dec 2007 | 139 Posts

Quoting Buildcity

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haham GB is rocket rise but Euro is struggling. So these pairs are not always twins.

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Yep... sometime it happen...

#9,082
Dec 12, 2011 6:12am Dec 12, 2011 6:12am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts

Quoting xcasper

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I am still trying to learn to use this method of trading, but I am really struggling with how to decide when to enter. I have gone through at least 30% of this post and I like the idea and ive had some minor success. But I chalk alot of that up to luck since I know that I do not fully understand this method.

Anyone have some general pointers so that I can wrap my head around this method?

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This is part of Sho's first post in his first thread:

This is advance type of scalping so if you are newbie it will be bit complicated for you.
so please learn the basic about the market and candlestick or bar chart formation.
learn the basic of all the pattern like triangle,double top,head and shoulder,flag.the basic of fibonachi,elliot wave,123 formation.search the google or ff for those information. or go to this link( education link )for free basic information about trading and come back here.
if you dont know the basic of those things it will be very hard for you to understand how my methood works.
so please do your home work and read this thread and apply in your trading.if you dont know the basic then this thread is bad for you. you can leave now.dont go any further.but if you are trully care about learning, learn the basic and use this thread.

biggest truth is less then 1%(near zero) scalpers are success full(talking about retail traders)
so if you still think its for u go ahead and use my methood.thats why i encourage new people not to scalp.please dont i am telling you again dont go live.allways demo until ur fully confident with my methood.

I don't know what your trading experience is but it's important to get to grips with the basics of trading before using this method.

#9,083
Dec 12, 2011 11:31am Dec 12, 2011 11:31am

xcasper
| Joined Dec 2011 | Status: Trader | 22 Posts

Quoting loog12us

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Read the first thread of the sho , he has described very well in full detail about the method

This method is not 100% winning , we have days some times when we dont make any thing but loose , but when we make , we make it for the whole week.

Few thing you have to stick with , always calculate your risk dont risk more than 2% of your equity , take all the trades that your system gives dont hesitate after a lossing trading , pull the trigger when ever you see the setup , dont take loss as a pain , if you will stick with these basic principles...

Ignored

Ya I have gone through both pretty thoroughly. For some reason I just dont understand the entries. I think it may be not understanding the price action formations and what each one "means." I am going to study up on that see if it helps.

#9,084
Dec 12, 2011 11:33am Dec 12, 2011 11:33am

xcasper
| Joined Dec 2011 | Status: Trader | 22 Posts

Quoting stevepatt

Disliked

This is part of Sho's first post in his first thread:

[color="Blue"]This is advance type of scalping so if you are newbie it will be bit complicated for you.
so please learn the basic about the market and candlestick or bar chart formation.
learn the basic of all the pattern like triangle,double top,head and shoulder,flag.the basic of fibonachi,elliot wave,123 formation.search the google or ff for those information. or go to this link( education link )for free basic information about trading and come back here.
if you dont know the basic...

Ignored

Thank you, i remember reading that but until now I had forgotten that was about this thread. I am going to review the two posts again and look up more information on PA formations

#9,085
Dec 12, 2011 11:58am Dec 12, 2011 11:58am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts

Quoting xcasper

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Thank you, i remember reading that but until now I had forgotten that was about this thread. I am going to review the two posts again and look up more information on PA formations

Ignored

The thing with PA is it's made up of many different elements and it's understanding those individual elements that leads to success in trading with it.
It just takes a willingness to learn, lots of determination and the patience to get it right without pulling your hair out.

Good luck with your search here's some things that might help.

http://transcripts.fxstreet.com/2007...-and-dema.html

Attached File(s)

Candlestick Part 2.pdf 2.3 MB | 849 downloads

Candlestick.pdf 2.0 MB | 1,431 downloads

#9,086
Dec 13, 2011 1:02am Dec 13, 2011 1:02am

simplicity
| Joined Sep 2011 | Status: Trader | 221 Posts

EUR/USD long

Entry:
http://img268.imageshack.us/img268/4...211eurusd1.gif

Stopped: -12p

Can you point out my amateur mistake? It will be your valuable lesson

#9,087
Edited Dec 14, 2011 7:43pm Dec 13, 2011 1:19am | Edited Dec 14, 2011 7:43pm

jozone1
| Joined Aug 2011 | Status: Trader | 177 Posts

Hi Simplicity, I was looking at the same trade but did not take it because of the long upper wicks on the 5 min and the 15 min. IMO 15 min also did not really look to be trending yet. Also On the 15 min 1 big red bar and 4 green bars was also telling me that there was less upside speed so I wasnt sure who was in control -- bulls or bears -- so I sat on the sidelines.

#9,088
Dec 13, 2011 1:37am Dec 13, 2011 1:37am

Buildcity
Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts

Too aggressive on this entry, should wait bit more after the green IB formed

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#9,089
Dec 13, 2011 1:51am Dec 13, 2011 1:51am

loog12us
| Joined Sep 2011 | Status: Trader | 91 Posts

checkout the attached chart

Quoting simplicity

Disliked

EUR/USD long

Entry:

Stopped: -12p

Can you point out my amateur mistake? It will be your valuable lesson

Ignored

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Tough Times Never Last But Tough People Do

#9,090
Dec 13, 2011 8:29am Dec 13, 2011 8:29am

stevepatt
Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts

First trade I hesitated on entry and it left me short of my target by a couple of pips. I had to go out to pick my son up from school and missed the break but entered on the break of the IB.

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#9,091
Dec 13, 2011 9:09am Dec 13, 2011 9:09am

loog12us
| Joined Sep 2011 | Status: Trader | 91 Posts

Nice mate ,

I was also hesitant to take that trade also so i left it , because market was not clear at that time and supply level was ahead , took the pin bar after break out and it was runner for 50 pips , tried 2 more entries just now both ended on B.E , market is in little consolidation so stopped trading for today.

Quoting stevepatt

Disliked

First trade I hesitated on entry and it left me short of my target by a couple of pips. I had to go out to pick my son up from school and missed the break but entered on the break of the IB.

Ignored

Tough Times Never Last But Tough People Do

#9,092
Dec 14, 2011 1:41am Dec 14, 2011 1:41am

simplicity
| Joined Sep 2011 | Status: Trader | 221 Posts

USD/CHF long and stopped: -6p
http://img401.imageshack.us/img401/7...211usdchf1.gif

#9,093
Dec 14, 2011 11:40pm Dec 14, 2011 11:40pm

Fxprince12
| Joined Nov 2010 | Status: Trader | 59 Posts

Hi all, I’m still learning about Sho method..
so far I have difficulties in identifying the corrective pattern.
Most of the time when the Price retrace back to MA 10/Kelter, I didn’t trade because I’m still struggling to differentiate whether corrective is still corrective, or corrective already change to impulsive .

Perhaps the Momentum trader expert here could give me the clue of candle pattern or warning signal that showing maybe the corrective is going to change to impulsive OR it is already changed to impulsive..

Many thanks in advance.

Apologize if i'm posting in the wrong thread..

#9,094
Dec 15, 2011 12:09am Dec 15, 2011 12:09am

loog12us
| Joined Sep 2011 | Status: Trader | 91 Posts

Read the sho's first thread , he has explained many times how to identify that with many charts.

You can not know in advance if its corrective or impulsive.

If the corrective wave breaks previous low/high with speed(momentum) you can classify it as new impulsive.

Only momentum can tell you if its corrective or impulsive or range bound market.

Quoting Fxprince12

Disliked

Hi all, I’m still learning about Sho method..
so far I have difficulties in identifying the corrective pattern.
Most of the time when the Price retrace back to MA 10/Kelter, I didn’t trade because I’m still struggling to differentiate whether corrective is still corrective, or corrective already change to impulsive .

Perhaps the Momentum trader expert here could give me the clue of candle pattern or warning signal that showing maybe the corrective is going to change to impulsive OR it is already changed...

Ignored