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  • #4,201
  • Feb 10, 2012 6:39am Feb 10, 2012 6:39am
I caught that long downward candle for +50, had already made +25 scalping, +75 for today, still somewhat of a slow week but i"ll take it = +238 for the week. -12 of my goal of +50 per/day but i'm happy, not going to take a chance of giving some back.
Have a great weekend, i'm done for the week.
  • #4,202
  • Feb 10, 2012 6:41am Feb 10, 2012 6:41am
Quoting hale-mary
whats wrong with this entry long on the opening of the second candle. First blue candle seemed perfect. Entered here and got stopped out for 50 pips due to that huge red candle. I realize I have not progressed far as I thought I have. Overall Loss for the week.
Hi hale mary

A toughie, have a look at SR level on D candle closes from about 23 Nov to end of Nov. That tells you that this area is indeed a potential SR area. If I had been a buyer there I would have been out at close of next candle and not waited for a 50 pip stop to get hit.

That candle has then signaled a lower high on 1hr and sure enough there were sell chances later.

So not really an issue on entry just the size of stop once that SR got hit.

PS pa stopped right on move up to todays open thats also something you could consider when that level got rejected.
  • #4,203
  • Feb 10, 2012 6:47am Feb 10, 2012 6:47am
Quoting X-Man
Im out for the week today im in no mood to look at charts. Im in weekend mode already.

I didnt get a good run from the E/U 1H method this week : pips won : 90 pips
pips lost : (20) pips
Total : 70 pips

Total trades : 5 trades
Won 3 trades lost 2 trades.

Pips from the 4H method :
[size=3][color=blue]Pips...

Well done X-Man. But can you share your 4H trades? I didnt see any signals on those pairs. Thought one had to wait for a break outside blue bands?

I took 2 trades on the 4h method (as I understand it) but they both went bad. Not sure what I am missing...
  • #4,204
  • Feb 10, 2012 6:54am Feb 10, 2012 6:54am
Quoting christiaandu
Well done X-Man. But can you share your 4H trades? I didnt see any signals on those pairs. Thought one had to wait for a break outside blue bands?

I took 2 trades on the 4h method (as I understand it) but they both went bad. Not sure what I am missing...
Post your chart. On my side I didn't see any set up this week on the 4h method.
  • #4,205
  • Feb 10, 2012 6:56am Feb 10, 2012 6:56am
X-Man, what indicator do you use to draw channel? Is it Sonic SHI Channel MTF? Because I got channel not likes yours.
  • #4,206
  • Feb 10, 2012 7:09am Feb 10, 2012 7:09am
Quoting hale-mary
whats wrong with this entry long on the opening of the second candle. First blue candle seemed perfect. Entered here and got stopped out for 50 pips due to that huge red candle. I realize I have not progressed far as I thought I have. Overall Loss for the week.
Hi HM,

if you know how to read the price bars/candles without even have to look at any S&R lines, that was a trap setup by dealing desks knowing thant many traders like you who will chase long price bars.

real tough situiations like these are very common.

Take a break!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,207
  • Feb 10, 2012 7:39am Feb 10, 2012 7:39am
I thought i was done for the week but i was determined to reach my goal. Entered Sell trade just as it was crossing the 200 on H1, saw it wasn't going to continue so i closed at +17. Reached my goal for week, now i am definitely done for the week.
I see it retraced some and hanging right at the 200.
  • #4,208
  • Feb 10, 2012 7:42am Feb 10, 2012 7:42am
Quoting hale-mary
whats wrong with this entry long on the opening of the second candle. First blue candle seemed perfect. Entered here and got stopped out for 50 pips due to that huge red candle. I realize I have not progressed far as I thought I have. Overall Loss for the week.
Hi HM,

If It helps, I set myself a target of 4% a month ( 1% a week on equity ! ).
I risk 1% on trades.....

If 4% is reached in say week 1-2, I take my foot of the pedal and only take
what I consider to be high percentage trades ( i'm fussy anyway ),
i will only take those trades at 0.5% as well to try and protect what i've
gained.

Hope this helps , keep plugging away and you might just find your path..

Ja.
Memories caught in time but never forgotten
  • #4,209
  • Feb 10, 2012 8:02am Feb 10, 2012 8:02am
Quoting emmanuel7788
that was a trap setup by dealing desks knowing thant many traders like you who will chase long price bars.
And what told YOU this was a trap setup?
  • #4,210
  • Feb 10, 2012 8:21am Feb 10, 2012 8:21am
Quoting IenDzi
X-Man, what indicator do you use to draw channel? Is it Sonic SHI Channel MTF? Because I got channel not likes yours.
yes it is...
  • #4,211
  • Feb 10, 2012 8:24am Feb 10, 2012 8:24am
Quoting wrenski
And what told YOU this was a trap setup?
Hi wrenski

I'm sure if you searched the site/google for understanding order flow/interbank order flow,
you might find what your looking for...

Ja.
Memories caught in time but never forgotten
  • #4,212
  • Feb 10, 2012 8:30am Feb 10, 2012 8:30am
Quoting j4d
Hi wrenski

I'm sure if you searched the site/google for understanding order flow/interbank order flow,
you might find what your looking for...

Ja.
I know the meaning of the term that was used. I was asking Emmanuel what told HIM this was a trap.
I thank you for your help, though.
  • #4,213
  • Feb 10, 2012 8:44am Feb 10, 2012 8:44am
I came across this indicator by Russ Horn that i been having on the shelf for sometime, it might help some distinguish the different candle formations. I dusted it and put it back on my charts for a while.
Hope it helps some of the newer traders.
Attached File(s)
File Type: zip Candles.zip   422 KB | 640 downloads
  • #4,214
  • Feb 10, 2012 8:44am Feb 10, 2012 8:44am
Quoting jasonnevis
Thanks for the insight into your trading routine.

Very interesting to know that setup an alarm each hour. Do you set it 10 to 15 min before the close of the hour, or right on the hour? This is something have been thinking of doing myself. Do you use a normal alarm clock or some specific trading alarm clock? Have been looking for a traders alarm, client either hardware, software (iphone app), can't see to find one specifically designed for traders.....

Can you please share the EA that you use to manage trades?

Thanks Phx!

PS, Did...
you may consider some kind of countdown alarm like the link below.
http://download.cnet.com/Cool-Timer/...-10062255.html
  • #4,215
  • Feb 10, 2012 8:53am Feb 10, 2012 8:53am
Quoting wrenski
I know the meaning of the term that was used. I was asking Emmanuel what told HIM this was a trap.
I thank you for your help, though.
Please except my appology's wrenski.........

If any one else is interested in learning about order flow, here is a nice
article i have found on FF.
You can forward your trading immensely by understanding this...

http://www.forexfactory.com/showthread.php?t=193795

Ja.
Memories caught in time but never forgotten
  • #4,216
  • Feb 10, 2012 8:54am Feb 10, 2012 8:54am
Quoting j4d
Hi HM,

If It helps, I set myself a target of 4% a month ( 1% a week on equity ! ).
I risk 1% on trades.....

If 4% is reached in say week 1-2, I take my foot of the pedal and only take
what I consider to be high percentage trades ( i'm fussy anyway ),
i will only take those trades at 0.5% as well to try and protect what i've
gained.

Hope this helps , keep plugging away and you might just find your path..

Ja.
Hey this is a very sensible advice. Though I personally would like to have a bit higher monthly target something like 10%.
  • #4,217
  • Feb 10, 2012 9:03am Feb 10, 2012 9:03am
Quoting j4d
Please except my appology's wrenski.........

If any one else is interested in learning about order flow, here is a nice
article i have found on FF.
You can forward your trading immensely by understanding this...

http://www.forexfactory.com/showthread.php?t=193795

Ja.
No apologies required Ja. I'll read this thread you've included too. Thanks!
  • #4,218
  • Feb 10, 2012 9:07am Feb 10, 2012 9:07am
15min chart: short on GBP/USD :
a spike occured and a spread of 5 to 6 pips (between long and short) from oanada trigger my Stop loss 15mins ago and cause me loss of $$.

Guess i have to place wider stop loss. This isnt the 1st time oanda had this type of spike.
  • #4,219
  • Feb 10, 2012 9:09am Feb 10, 2012 9:09am
Quoting wrenski
I know the meaning of the term that was used. I was asking Emmanuel what told HIM this was a trap.
I thank you for your help, though.
Hi wrenski

...a 'little bird' told me so.
my Big Picture is always my guide, when the market decides to make its move, it will not take me along....so I have to depend on this 'little bird'.
there are a lot of stuff written about what moves the market, and who moves the market, about brokers, ECN, MM, etc.

ultimately, I chose to take that RED pill
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,220
  • Feb 10, 2012 9:23am Feb 10, 2012 9:23am
Quoting hale-mary
whats wrong with this entry long on the opening of the second candle. First blue candle seemed perfect. Entered here and got stopped out for 50 pips due to that huge red candle. I realize I have not progressed far as I thought I have. Overall Loss for the week.
If you had your daily pivots on you would notice that PA crept through the daily pivot during the asian session. Then at the LO there was a clear bounce off the pivot and PA went down.
A lovely short trade couldve been taken for 50 to 70 pips.
X-man the legendary conqueror of markets
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