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Attachments: "Katana Trading Strategy"
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"Katana Trading Strategy"

  • #401
  • Jan 12, 2012 2:11am Jan 12, 2012 2:11am
Closed the trade at +34 pips... risk was -20 pips

Chance of a retracement from xx75 is high...
Attached Image (click to enlarge)
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  • #402
  • Jan 12, 2012 2:28am Jan 12, 2012 2:28am
Quoting orientos
M......... how can I validate your trade (or not) we I can't duplicate your chart. That's what really weird about this thread. As far as I know, nobody can match or use your indicators. Your retracement into a trend strategy is one I use every day in my own way, along with Vantage's HL/LH strategy. But I can't comment on your chart, because I havn't a clue what your MA's are or what the indicators below the chart mean.

I considered that short ,but there was no decent break of the xx50 level. That was my reason for staying out.

Great thread,...
The indicators at the bottom of the chart are various Stochastics, 2 are used for trend filter, one is for trend pull back identification and one is for trend continuation.

I don't want to post inputs here because this may give the impression that this is the "holy grail" but at the end of the day it's just to be used as a guide, and I encourage others to experiment with combinations and look at their own chart and identify areas on the chart where the market is going sideways and identify what will keep you out of the market and what will get you in the market when it is trending..

Trading for me should not be about just following blue or red bars on a histogram, but also looking at price levels, previous support and resistance levels, and also H/L and L/H patterns. Using the stochastic indicator to identify the pull backs is just one method, RSI can be used for similar things, and I'm sure there's many other different methods.

I have losses, I have winners, the key is to ensure that the winners are on average bigger than the losses. There's no mechanical method that I know of that will give good exits. Other than using price levels, 20 - 25 pips is a good number of pips to exit. as prices retrace once they reach the xx00 xx25 xx50 xx75 level, regularly.

I'm sharing a methodology here, one which is simple to follow.

1. Trend Identification (moving average, stochastic combo)
2. Trend Pull Back Identification (stochastic)
3. Trend Continuation Identification (stochastic)

I hope by looking at the charts that I'm posting will give you some idea on what to look for.
  • #403
  • Jan 12, 2012 3:27am Jan 12, 2012 3:27am
A pull back identified, but not a continuation as yet...
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 214.jpg Size: 245 KB
  • #404
  • Jan 12, 2012 3:32am Jan 12, 2012 3:32am
A possible short coming up here...
  • #405
  • Jan 12, 2012 3:35am Jan 12, 2012 3:35am
That was a nice exit. I entered a little before you but bailed at the xx00. Thanks for your detailed post above.......I do understand wher you are coming from. Cheers.
  • #406
  • Jan 12, 2012 3:38am Jan 12, 2012 3:38am
Shorted the pound stop loss at 1.53137 and take profits around the xx50 levels... nothing is certain only that there is no certainty...

Still waiting for a sell signal on EJ
Attached Image (click to enlarge)
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  • #407
  • Jan 12, 2012 3:44am Jan 12, 2012 3:44am
As you can see... losses do happen...
Attached Image (click to enlarge)
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  • #408
  • Jan 12, 2012 10:25am Jan 12, 2012 10:25am
Hi M, Could you give me your thoughts on this chart of yours below.

From your chart it seems that price retraced to the MA's and that the bar marked in red rectangle closes bearish with a brown and red signal on the bottom 2 indicators. Im assuming the brown indicates a valid retracement to the upside in a downtrend and the red indicates a valid continuation. Any reason you did not take this particular trade if it is a correct setup (assuming) ?

Attached Image (click to enlarge)
Click to Enlarge Name: katana%20chart%20209.jpg Size: 284 KB


Cheers
Dan
  • #409
  • Jan 12, 2012 12:44pm Jan 12, 2012 12:44pm
Quoting dan89
Hi M, Could you give me your thoughts on this chart of yours below.

From your chart it seems that price retraced to the MA's and that the bar marked in red rectangle closes bearish with a brown and red signal on the bottom 2 indicators. Im assuming the brown indicates a valid retracement to the upside in a downtrend and the red indicates a valid continuation. Any reason you did not take this particular trade if it is a correct setup (assuming) ?

Attachment

Cheers
Dan
I was not at the PC, also I would avoid most trades between NY close and European open. Why trade when you know it's likely that the market is not going to move too much. As I've said before, trading is not just about following blue and red bars on a histogram.
  • #410
  • Jan 12, 2012 12:51pm Jan 12, 2012 12:51pm
Enough room to make a profit on the EU chart after a valid retracement and continuation...
Attached Image (click to enlarge)
Click to Enlarge Name: katana chart 217.jpg Size: 151 KB
  • #411
  • Jan 12, 2012 12:54pm Jan 12, 2012 12:54pm
GU basically went sideways so not one chance to trade again on that pair..
Attached Image (click to enlarge)
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  • #412
  • Jan 12, 2012 9:34pm Jan 12, 2012 9:34pm
Quoting dan89
Hi M, Could you give me your thoughts on this chart of yours below.

From your chart it seems that price retraced to the MA's and that the bar marked in red rectangle closes bearish with a brown and red signal on the bottom 2 indicators. Im assuming the brown indicates a valid retracement to the upside in a downtrend and the red indicates a valid continuation. Any reason you did not take this particular trade if it is a correct setup (assuming) ?

Attachment

Cheers
Dan
Hey Musashi. question for you. What is the first indicator below the chart that is used as a filter to keep you out of trades and what settings.
Island hopping throughout the Caribbean
  • #413
  • Jan 13, 2012 12:05am Jan 13, 2012 12:05am
Just closed EU long trade after continuation signal presented after pull back identified...
Attached Image (click to enlarge)
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  • #414
  • Jan 13, 2012 5:13am Jan 13, 2012 5:13am
Quoting dumplin_eater
Hey Musashi. question for you. What is the first indicator below the chart that is used as a filter to keep you out of trades and what settings.
I believe the top 3 are trend filters and the bottom 2 are pullback & continuation filters.

As for the settings, M has mentioned numerous times in this thread that he wont be releasing this information.
  • #415
  • Jan 13, 2012 10:34am Jan 13, 2012 10:34am
Hi M
I was wondering what TF are u look at those pullback

thks
  • #416
  • Jan 13, 2012 1:44pm Jan 13, 2012 1:44pm
Quoting desiboy
Hi M
I was wondering what TF are u look at those pullback

thks
Its not a time framed based chart mate. Its a range bar chart. Each bar closes after a certain number of pips is completed. In other words every bar is the same number of pips and time is irrelevant

Dan
  • #417
  • Jan 18, 2012 1:15am Jan 18, 2012 1:15am
Long signal generated here.... let's see how it goes....
Attached Image (click to enlarge)
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  • #418
  • Jan 18, 2012 1:43am Jan 18, 2012 1:43am
Moved the TP levels up and added an auto trailing stop on this one... just in case...

Market seems to be somewhat bullish
Attached Image (click to enlarge)
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  • #419
  • Jan 20, 2012 6:55am Jan 20, 2012 6:55am
Anyone trading this method or following M's trades on twitter ? Hows it going for you ?

Dan
  • #420
  • Jan 20, 2012 7:19am Jan 20, 2012 7:19am
Quoting dan89
Anyone trading this method or following M's trades on twitter ? Hows it going for you ?

Dan
Im following this system and also twitter posts. Works perfekt. easy and clear way to make money
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