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True Trading Tactics

  • #841
  • Feb 24, 2012 5:17am Feb 24, 2012 5:17am
Quoting kinspk
Hi Guys, the system Kraven had shared looks good, and I had been subscribing and following, but those reversal candles doesnt occur as frequent as some had posted here in 15mins and H1 charts for my broker, Oanda.

I posted a chart here, can someone point to me if this is valid? Thanks alot.

EDIT: the reversal candle break down at 80.53, and according to this system, i suppose to sell. But i actually waited for the pull back and short it at 80.60 with tight SL at 80.67. I am not sure if this candle valid for shorting as basically it is counter...
Hi all,
@kINSPK,
Going by what Kraven explained on the first page of the thread,you are right.The spinning top make a new high when it was born but ended a bearish candle.It is valid.Kraven often place PO at the break of either the high or the low of the KR candle for his entry and prefer H1 chart.Maybe you should adopt this entry method.As concerned the trend,you are right too.It was up but do you know that can be the turning point and the beginning of something huge.All you have to do is to risk little for something huge.But do not forget setting your SL.Feb2865 said there is no trend on any a TF lower than Daily.Think about this.Just my 2cent.
Sincerely,
Adeshina.
  • #842
  • Feb 24, 2012 6:47am Feb 24, 2012 6:47am
Quoting Ifebaba94
Hi all,
@kINSPK,
Going by what Kraven explained on the first page of the thread,you are right.The spinning top make a new high when it was born but ended a bearish candle.It is valid.Kraven often place PO at the break of either the high or the low of the KR candle for his entry and prefer H1 chart.Maybe you should adopt this entry method.As concerned the trend,you are right too.It was up but do you know that can be the turning point and the beginning of something huge.All you have to do is to risk little for something huge.But do not forget setting...

Thanks Adeshina, your response is valuable to my learning phase.

I realised that if i am to refer to this situation on the reversal candle(1st candle) and to enter at the next breakout candle(2nd candle), i would had been wipe out by the pull back(3rd candle), thus making a loss. I was pretty lucky to enter on 3rd candle(pullback) escaping the triggering of my SL.

I had been following this thread for 2 weeks, and i find it simple and good. However, i hope i can fine tune it to my comfort zone in entry and exit, but whenever i see someone posted a chart with valid entries(reversal candles), my chart doesnt reflect the same. I missed opportunities. I wonder if anyone face similiar issue. I am using both Oanda MT4 and FXtrade.
The only winner is the one who survive the longest...
  • #843
  • Feb 24, 2012 7:07am Feb 24, 2012 7:07am
looks like very strong upward trend today huh...? quite a few signals that did not break out in right direction...
  • #844
  • Feb 24, 2012 8:38am Feb 24, 2012 8:38am
Quoting Omd
looks like very strong upward trend today huh...? quite a few signals that did not break out in right direction...
Yes you´re right it´s a very strong up trend today. We have to be patience and wait for ALL the signals.
  • #845
  • Feb 24, 2012 10:46am Feb 24, 2012 10:46am
just quickly popped on,

my EJ daily hit +280pips, it's been running straight up for a while now so i've taken most of my purse off, left some on to run

i took 1hr EU and GU earlier. GU just hit my TP of the previous weekly high. EU has just hit my modified sl of +30, i missed the actual reversal candle and used them as a trend continuation as the bars just shot up while i watched....
  • #846
  • Edited 2:15pm Feb 24, 2012 1:25pm | Edited 2:15pm
just got into EJ...been running high and a KRC.

* still in this with SL at 109.06
  • #847
  • Feb 24, 2012 2:06pm Feb 24, 2012 2:06pm
No doubt about it.
Very worthwhile and functional
information circulates here.....
  • #848
  • Feb 24, 2012 4:16pm Feb 24, 2012 4:16pm
got stop out of EJ as the euro keeps steaming up.
  • #849
  • Feb 24, 2012 11:40pm Feb 24, 2012 11:40pm
Quoting kraven
got stop out of EJ as the euro keeps steaming up.
kraven (or anyone else), can you take a look at this long signal i took on AU at 0700h on friday and tell me if it's a valid KRC? i just want to know if there's any reason i shouldn't have taken it as it turned false.

thanks!
Attached Image (click to enlarge)
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  • #850
  • Feb 25, 2012 1:17am Feb 25, 2012 1:17am
Quoting Omd
kraven (or anyone else), can you take a look at this long signal i took on AU at 0700h on friday and tell me if it's a valid KRC? i just want to know if there's any reason i shouldn't have taken it as it turned false.

thanks!
It was a valid signal.....but the only reason you should not have taken it because it was too close to news release.....
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #851
  • Feb 25, 2012 3:41pm Feb 25, 2012 3:41pm
Quoting Omd
kraven (or anyone else), can you take a look at this long signal i took on AU at 0700h on friday and tell me if it's a valid KRC? i just want to know if there's any reason i shouldn't have taken it as it turned false.

thanks!
hi there omd, id be dubious taking a trade on that pin bar as you are buying into a weekly resistance area showing a strong resistance shooting star on the previous break out. pick and choose like a sniper have your criteria met. in any style there will be good signals that dont work out thats the beauty of screen time anyhow if entering after that pin you can see the bull candles are weak indecision candles or rising in agony.
when in a position do not stick to a particular TP analyze each scenario as it unfolds. We do not know the future and no indicator can tell us better than what the Price action is narrating.
Green pips to you brother.
adz.
  • #852
  • Feb 25, 2012 4:10pm Feb 25, 2012 4:10pm
Quoting Chulmleigh
Hi Holy Pips
With the M15 method just take the 1:1 every time. Back test it for ages and you will see that it pays. Put the longer trend out of your head. You will see that this method sometimes allows for re-entry. Also, when following a longer move you have to suffer pull-backs, which can seriously eat into the equity - dealing with this has been a particular problem of mine. With this method there are times when you can profit on those pull-backs.

I have a list to hand next to me so I can quickly determine lot size according to stop and % of...
Chulmleigh thanks a lot for the reply was really helpful, and glad you let me know you use 1:1 R R.
  • #853
  • Feb 25, 2012 4:21pm Feb 25, 2012 4:21pm
Quoting kraven
just got into EJ...been running high and a KRC.

* still in this with SL at 109.06
hello Kraven, good info.....just to share with u. if u want to know better the trend of movement look also the US dollar index ( daily). it will show to u the daily gap at US dollar index. From there u can know trade more confident...thank.
  • #854
  • Edited 11:00pm Feb 25, 2012 5:33pm | Edited 11:00pm
Omd hope this helps, it's my take on your chart.
All in all i would have entered too. my main concern was that the price had failed several times to close above Y high line. and if RoelsM is right, then the news too.
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  • #855
  • Feb 26, 2012 8:32pm Feb 26, 2012 8:32pm
Thank for Kraven method!
I only trade in daily chart, so this is a price action method i'm looking for.
I have applied this for trade from Fri-24/2 for EURAUD with entry in 1.2509, now it's more than 80pip profit
After breakout from consolidation area with increase of volatility, my target for this trade at 261.8%. Anyone in this pair?
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  • #856
  • Feb 26, 2012 8:34pm Feb 26, 2012 8:34pm
Quoting kraven
Omd hope this helps, it's my take on your chart.
All in all i would have entered too. my main concern was that the price had failed several times to close above Y high line. and if RoelsM is right, then the news too.
thanks kraven, RM, adamegreen...

re news release, the KRC started at 0700h at which time there was news and news again at 0900h. i entered during the 0800h bar, is that too close to the 0900h news release? how much time do you usu give to avoid being affected by news?

thanks a lot guys, really helpful info. people in this thread are awesome! so much to learn...how long you guys been trading? are u full time traders?
  • #857
  • Feb 27, 2012 1:42am Feb 27, 2012 1:42am
Quoting Omd
thanks kraven, RM, adamegreen...

re news release, the KRC started at 0700h at which time there was news and news again at 0900h. i entered during the 0800h bar, is that too close to the 0900h news release? how much time do you usu give to avoid being affected by news?
15min prior news is a good place to backtest on your charts ( attached is a news indi ) i have this set on my chart to show only news for that pair it is very handy if you don't have a second window showing news. check back from news history you can get a indi that will plot all news on chart to save time anyhow usually 15min prior is pretty safe. low and medium impact news are not big issues, high impact news unless you have a time strategy i.e 120sec hedge trade both ways with balls of steal..... don't bother.
i dont want to take away from this thread in anyway as it is great to see a similar style to what i trade, there is a thread started by Niceguy who also showed a similar style with some great info on price action anyone who is interested can search for it on FF.

wow look at this great H1 pin off Resistance, green pips to ALL!!

Adz.
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 FFCal Headlines.ex4   36 KB | 356 downloads
  • #858
  • Feb 27, 2012 10:35am Feb 27, 2012 10:35am
Short entry here on usdchf 1 hour.
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  • #859
  • Feb 27, 2012 10:50am Feb 27, 2012 10:50am
send you a pm nbelchior....didnt want to interfere with the thread
  • #860
  • Feb 27, 2012 10:52am Feb 27, 2012 10:52am
Quoting bradu
send you a pm nbelchior....didnt want to interfere with the thread
OK i´m gonna look for the template/system ( darkonix )
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