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

  • #7,281
  • Feb 7, 2012 10:02am Feb 7, 2012 10:02am
Quoting Baniu
Hello Guys,

I want to share with you my today's experience I have gained trading eurusd. Maybe it will be of use to someone.

LESSONS LEARNED:

1. USING RANGE TEMPLATES KEEP YOUR STOP UNDER DAILY LOW, IT'S A REALLY GOOD PLACE. DON'T DEFEND YOUR POSITION TOO EAGERLY.

2. TIMING IS REALLY IMPORTANT, ESPECIALLY USING 18.4 TEMPLATE. FOR SURE IGROK HAD A LOT OF REASONS TO WRITE IN HIS BOOK THAT IT SHOULD BE PLAYED IN VERY LATE EURO SESSION AND NY SESSION


DESCRIPTION OF TRADE MANAGEMENT:

From the very beginning of the day I planned...
Volatility cycles plays big role in intraday trading as Igrok written in his book sometimes they are obvious to spot, just it needs practice to do that. For example EUR'o last 3 days in a row started to kick in almost exactly @ 13.30 GMT and filled its ADR in few hours...

PS. i wrote a post to my blog how to spot these cycles with ATR if anyone is interested http://forexworksheet.com/timing-the-intraday-volatility-increasing-trading-perfomance/
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  • #7,282
  • Feb 7, 2012 3:32pm Feb 7, 2012 3:32pm
Quoting PutaMadre
Volatility cycles plays big role in intraday trading as Igrok written in his book sometimes they are obvious to spot, just it needs practice to do that. For example EUR'o last 3 days in a row started to kick in almost exactly @ 13.30 GMT and filled its ADR in few hours...

PS. i wrote a post to my blog how to spot these cycles with ATR if anyone is interested http://forexworksheet.com/timing-the-intraday-volatility-increasing-trading-perfomance/
Nice blog, haven't seen it until now!
Measure twice, cut once
  • #7,283
  • Feb 7, 2012 7:46pm Feb 7, 2012 7:46pm
Quoting aediaz1
Nice blog, haven't seen it until now!

very nice blog.
keep it up!
  • #7,284
  • Edited 11:45pm Feb 7, 2012 9:32pm | Edited 11:45pm
Quoting PutaMadre
Volatility cycles plays big role in intraday trading as Igrok written in his book sometimes they are obvious to spot, just it needs practice to do that. For example EUR'o last 3 days in a row started to kick in almost exactly @ 13.30 GMT and filled its ADR in few hours...

PS. i wrote a post to my blog how to spot these cycles with ATR if anyone is interested http://forexworksheet.com/timing-the-intraday-volatility-increasing-trading-perfomance/
I'd say that it's probably the greatest kept "secret" for trading these templates.

By trading between 13:00-17:00 GMT in most pairs, gave me an incredible result in January.

I might have to say that I had a good start for the month of February as well with the same timing. Made 1.70% in just one single day! Risking less than 1% on trades. Profit factor is incredible right now: 6.54 and a drawdown of 0.30%!

I could stop trading right now for this month and be considered a pretty good investment in Brazil with a 1.70% return! ;-)

PS:Todays EURUSD 18.4 was textbook quality.
  • #7,285
  • Feb 7, 2012 11:33pm Feb 7, 2012 11:33pm
Quoting marcb
Hi Mauro,
what is your opinion on the EURUSD for this week and the next one?
Thanks
Although I am not Nostradamus, here are my thoughts:

It seems like EURUSD has been travelling inside a descending channel observed in the daily chart. Notice that it is a very symmetrical pattern where we have two touches already there on both sides. From the looks of it, it seems like price could reach as much as the 1.35 level IF the secondary (recent/shorter term) bullish trend is fast enough.

RSI has clearly been making lower highs thus confirming the trend direction for now. I'd be worried if RSI takes out its 67.87 level on the daily chart.

I still see price falling below parity longer term (as written on my blog).

Best.
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  • #7,286
  • Feb 8, 2012 12:14am Feb 8, 2012 12:14am
Quoting aediaz1
Nice blog, haven't seen it until now!
Quoting ZeeJay
very nice blog.
keep it up!
Thanks I just started to write it. I Thought that writing a blog will be a good inspiration for further digging in to the markets, and making my range of vision a bit wider, though i could share my thoughts on web to
  • #7,287
  • Feb 8, 2012 1:59am Feb 8, 2012 1:59am
Quoting PutaMadre
Volatility cycles plays big role in intraday trading as Igrok written in his book sometimes they are obvious to spot, just it needs practice to do that. For example EUR'o last 3 days in a row started to kick in almost exactly @ 13.30 GMT and filled its ADR in few hours...

PS. i wrote a post to my blog how to spot these cycles with ATR if anyone is interested http://forexworksheet.com/timing-the-intraday-volatility-increasing-trading-perfomance/
Hi PutaMadre,

Really nice article and great blog, keep it up. I think sharing your knowledge with others always makes you a better trader. What goes around comes around.

Making some stats concerning movement of let's say of eurusd after spooz opens would be interesting. I will think about it.

And I will definitely keep an eye on your blog,

cheers,
Chris
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #7,288
  • Feb 8, 2012 2:15am Feb 8, 2012 2:15am
Quoting Baniu
LESSONS LEARNED:

1. USING RANGE TEMPLATES KEEP YOUR STOP UNDER DAILY LOW, IT'S A REALLY GOOD PLACE. DON'T DEFEND YOUR POSITION TOO EAGERLY.

2. TIMING IS REALLY IMPORTANT, ESPECIALLY USING 18.4 TEMPLATE. FOR SURE IGROK HAD A LOT OF REASONS TO WRITE IN HIS BOOK THAT IT SHOULD BE PLAYED IN VERY LATE EURO SESSION AND NY SESSION
Good stuff Chris, I like your thought process behind your trade management.

Regarding your second point, most of my winning 18.4s were taken EARLY in the european session . To me this confirms what PutaMadre found out regarding the intraday volatility cycles. Sometimes the best entries are early in the session and sometimes late.

There's 2 more probability enhancers that I use:
* Never trade against the longer term trend (I use the Daily chart to read the trend and spot the big levels (SR, TLs)
* Always have the Open price on my side. I noticed that the Open price is a very powerful level, if I look for bullish ID 18.4s then I take only the ones where Open is on the low side of the day. Kind of makes sens if you think about it - if the Open is on the low side then there was more buying than selling throughout the day.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,289
  • Feb 8, 2012 2:30pm Feb 8, 2012 2:30pm
Quoting soso
Good stuff Chris, I like your thought process behind your trade management.

Regarding your second point, most of my winning 18.4s were taken EARLY in the european session . To me this confirms what PutaMadre found out regarding the intraday volatility cycles. Sometimes the best entries are early in the session and sometimes late.
Thank you Soso ,

When it comes to second point, I will just try to be very cautious when making decision on 18.4 during early european session, taking into account that I may get some squeeze toward daily high/low before NY opens. Anyway, still a lot to learn for me about this pattern.

When it comes to enhancers, I think these are really valuable and I use them actually in my trading. Going with the trend increases our odds definitely. I like to have nice level/TL behind my back as well. Open price keeps surprising me lately, I haven't noticed its importance before.

Cheers
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #7,290
  • Feb 9, 2012 8:45am Feb 9, 2012 8:45am
GOLD already hit jackpot.
SILVER hopefully going for it as well.
  • #7,291
  • Feb 9, 2012 11:18am Feb 9, 2012 11:18am
Hello,
i have read igrok's book and am doing my best to follow the templates provided.The problem i am having is determing the previous days open and close for the range trading templates.I am in new york (est time) and i have found countless opinions on when the new york session ends and the asian begins.Can anyone here who follows the igrok method give me some guidance?
Thank you very much
  • #7,292
  • Feb 9, 2012 2:40pm Feb 9, 2012 2:40pm
Quoting tomr7x
Hello,
i have read igrok's book and am doing my best to follow the templates provided.The problem i am having is determing the previous days open and close for the range trading templates.I am in new york (est time) and i have found countless opinions on when the new york session ends and the asian begins.Can anyone here who follows the igrok method give me some guidance?
Thank you very much
Hi, it's 5PM NY.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,293
  • Feb 10, 2012 1:21am Feb 10, 2012 1:21am
Will div be payd ?
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  • #7,294
  • Feb 10, 2012 1:33am Feb 10, 2012 1:33am
Quoting Ridmantas
Will div be payd ?
Which?
  • #7,295
  • Feb 10, 2012 2:05am Feb 10, 2012 2:05am
Quoting belekas
Which?
First m30, +ADR
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  • #7,296
  • Feb 10, 2012 2:10am Feb 10, 2012 2:10am
Quoting Ridmantas
First m30, +ADR
Step by step. The chart speaks for itself.
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  • #7,297
  • Feb 10, 2012 2:14am Feb 10, 2012 2:14am
Quoting belekas
Step by step. The chart speaks for itself.
Thanks for chart, now i can expect more than div debt
  • #7,298
  • Feb 10, 2012 2:17am Feb 10, 2012 2:17am
Quoting Ridmantas
Thanks for chart, now i can expect more than div debt
No problem. Your welcome;-)
  • #7,299
  • Feb 10, 2012 6:33am Feb 10, 2012 6:33am
EURUSD ID #18.4 early in the European session.

Breakout of the bullish intra-week TL => weakness.
Open is near the high of the day => sellers are in control => weakness.

Price retraced near the Open then crashed. Returning near the Open happens A LOT.

Have a nice weekend all.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 27 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,300
  • Feb 10, 2012 12:44pm Feb 10, 2012 12:44pm
Quoting soso
EURUSD ID #18.4 early in the European session.

Breakout of the bullish intra-week TL => weakness.
Open is near the high of the day => sellers are in control => weakness.

Price retraced near the Open then crashed. Returning near the Open happens A LOT.

Have a nice weekend all.
Nice chart Soso. I wouldn't take it because I was bullish (MMOTW up), so bullish that haven't even noticed it and this in turn is not good

Have a nice weekend and good luck with milking markets using 18.4 next week.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
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