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Trading with Deadly Accuracy

  • #2,041
  • Edited 9:34am Feb 7, 2012 9:27am | Edited 9:34am
Two entries today. Trying not to overtrade. 1 or 2 a day is plenty so thats it for me. Entries techniques are as per wmd style. Methods work.

1. Euraud setup. (chart 1+3).

2. Eurgbp setup was based partly on 6am UK candle opening price. Often acts as s/r (chart 2+4).

Will not make this a trade log and clutter up thread, so that's it for a while. Qus welcome though.
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Click to Enlarge Name: eurgbp_MT.png Size: 32 KB
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  • #2,042
  • Feb 7, 2012 3:42pm Feb 7, 2012 3:42pm
GbpJpy
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  • #2,043
  • Feb 8, 2012 1:18am Feb 8, 2012 1:18am
EurUsd
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  • #2,044
  • Feb 8, 2012 2:00am Feb 8, 2012 2:00am
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  • #2,045
  • Feb 8, 2012 2:05am Feb 8, 2012 2:05am
Quoting Iron666
Attachment
very good :-)
  • #2,046
  • Feb 8, 2012 2:25am Feb 8, 2012 2:25am
Eurusd hook
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  • #2,047
  • Feb 10, 2012 4:37am Feb 10, 2012 4:37am
Quoting dazzdude
Eurusd hook
follow up
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  • #2,048
  • Feb 10, 2012 6:57am Feb 10, 2012 6:57am
Quoting dazzdude
follow up
the really clean ones work almost every time
Attached Image (click to enlarge)
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  • #2,049
  • Feb 16, 2012 12:54am Feb 16, 2012 12:54am
Attached Image (click to enlarge)
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  • #2,050
  • Feb 16, 2012 9:05pm Feb 16, 2012 9:05pm
i signup for the trial but totally not sure how to entry and exit.... gave up after 1 week.. i wish it could more newbie friendly...
  • #2,051
  • Feb 17, 2012 12:26am Feb 17, 2012 12:26am
EURJPY follow up from Iron666

Hooks resistance held as support so well.

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  • #2,052
  • Feb 17, 2012 12:47am Feb 17, 2012 12:47am
Quoting juzgood1978
i signup for the trial but totally not sure how to entry and exit.... gave up after 1 week.. i wish it could more newbie friendly...
Ive been in the room now for a couple months. I have to admit in my 1st few weeks I was struggling with the terminology and setups but now its looking much clearer. My understanding of price and how it moves has never been better and that is thanks to WMD and Dazzdude.
I have never come across someone who's accuracy is so high in trading. Of course others claim they can but when it comes to the crunch they were in winning hindsight trades and you never hear about their losers whereas with WMD he is very clear about what he's looking for and you know before it happens.
When you can get access to someone like that and see what he does it can only improve your trading in my opinion but you gotta stick with it.
Anyway all the best with your trading.
  • #2,053
  • Feb 17, 2012 1:56am Feb 17, 2012 1:56am
Found another boxes setup, easy to spot after the fact, now I need to start getting into the habit of drawing them as price develops.

Welcome any feedback.

Thomas
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 16_02_2012.jpg Size: 135 KB
  • #2,054
  • Feb 20, 2012 1:37am Feb 20, 2012 1:37am
Quoting Pip-Star
EURJPY follow up from Iron666

Hooks resistance held as support so well.

Attachment
Hi Pip-Star.... nice post :-)

As you are seeing, "price action" trading for most folk covers simplistic candle setups (pins, outside bar high close, etc). What we do is understand "price behaviour" and "price structure", whether that be over 1 bar or 100 bars.

The easiest place to start is understanding how price reacts to trend lines and support resistance levels and most importantly how to profit from that. Once that is grasped, and you can trade trend lines and support and resistance levels with deadly accuracy, patterns and structure can be introduced (not only to trade from, but to give a deeper insight into understanding how price moves).

It also explains why some traders can take 250 pips out of a 100 pip move.

I have added some squiggles to your chart.

d
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  • #2,055
  • Feb 20, 2012 2:11am Feb 20, 2012 2:11am
Quoting hometrading
Found another boxes setup, easy to spot after the fact, now I need to start getting into the habit of drawing them as price develops.

Welcome any feedback.

Thomas
Hi Thomas,

Awesome. That is spot on...

This is what I have seen....

Once Will sees something which may be a "repeatable" price pattern/structure, he draws then up on the chart as they happen, and saves a picture of each stage of pattern development. That could be two pictures, it could be 10 pictures. This can be done over and over again. Afterwards, you can then compare each sequence of pictures in the pattern to ensure its the same pattern, its reliable and tradable.

Once you build up a mental picture, you can examine all instances you can find on your charts to ensure it holds up.

At that point, you repeat the process marking up the pattern as it develops, but add to your chart what price will do this next, then next, then next, etc, as price unfolds. If you are right in your predictions, then you know you can trade the pattern live.

Over time, you can build up a catalog of price patterns you are comfortable trading from your observations which you know will play out with a high degree of accuracy.

That's an excellent way to learn, but it takes lots of time. Frankly, I do not know how many people can and enjoy watching price dance on a chart for anything up to 16 hours a day to achieve this. The alternative is to learn from someone who has :-)

d
  • #2,056
  • Feb 20, 2012 2:39am Feb 20, 2012 2:39am
Is this method WMD teaches online? If so I am clearer now and probably back to subscription...

Quoting dazzdude
Hi Pip-Star.... nice post :-)

As you are seeing, "price action" trading for most folk covers simplistic candle setups (pins, outside bar high close, etc). What we do is understand "price behaviour" and "price structure", whether that be over 1 bar or 100 bars.

The easiest place to start is understanding how price reacts to trend lines and support resistance levels and most importantly how to profit from that. Once that is grasped, and you can trade trend lines and support and resistance levels with deadly accuracy, patterns and...
  • #2,057
  • Edited 6:59am Feb 20, 2012 4:31am | Edited 6:59am
Quoting juzgood1978
Is this method WMD teaches online? If so I am clearer now and probably back to subscription...
Hi Jusgood1978,

I am not sure what your experience was, but remember its a mentoring service first and foremost.

Will does do a daily webinar where he covers his analysis of the market, the pairs on his watchlist, his bias on those pairs, the type of trade setups he is looking at that day, where & why, etc. He also participates in the chat room, calls the odd trade here and there, etc. Once you get the hang of it, that is all you really need.

However, he is there to mentor you. Everyone has his email address and skye handle and if you are not getting it, you contact him. All you need is a headset for a chat. My accountant charges me more for a 45-60min visit then his monthly service.

If you need a little extra help to get going, put up your hand and say "I do not understand that, please explain it again", or whatever you need to get going. That's the idea.

Also, understand that it's like learning to play the piano. If you think you can sign up for a 7 day trial and learn it in it week, it's just not gonna happen. If trading was that easy, everyone would be winner.

I suggest you give the trial/subscription another shot...

d
  • #2,058
  • Edited 2:33pm Feb 20, 2012 11:05am | Edited 2:33pm
Quoting dazzdude
Hi Pip-Star.... nice post :-)

As you are seeing, "price action" trading for most folk covers simplistic candle setups (pins, outside bar high close, etc). What we do is understand "price behaviour" and "price structure", whether that be over 1 bar or 100 bars.

The easiest place to start is understanding how price reacts to trend lines and support resistance levels and most importantly how to profit from that. Once that is grasped, and you can trade trend lines and support and resistance levels with deadly accuracy, patterns and...
Hi Fellows.
I wish to get your comments on this GU hook pattern:
Attached Image (click to enlarge)
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  • #2,059
  • Edited 4:03pm Feb 20, 2012 3:50pm | Edited 4:03pm
Quoting gilben
Hi Fellows.
I wish to get your comments on this GU hook pattern:
Hi Gilben,

Well spotted...

Will actually pointed that out last Friday as a potential long cable in his daily webinar. I have marked up your chart below to show. See chart 1.

If taken at the 6am UK open (that is where I might have looked for entry, but that is more my own touch), position would have gone against you only 3 pips and then rallied 75 pips in your favour. That's pretty good. See Chart 2. Note, I was away at the end of last week, so I was not trading Friday.

Remember though, that everything is contextual. That position was pointed out as on Friday Will had a long bias on cable and his overall market analysis supported that as a potential trade. A pattern may only be tradable if it occurs in line with existing bias, structure, etc. That is, it can be used as a technique/trick to gain entry at a time and place where you may already be looking for an entry.

d
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  • #2,060
  • Feb 21, 2012 1:02am Feb 21, 2012 1:02am
Is this hook still valid?

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