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Intraday price action trend trading

  • #9,541
  • Mar 21, 2012 6:24am Mar 21, 2012 6:24am
Quoting simplicity
EUR/USD double top playing and stopped: -5p
Entered again and got 11p
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  • #9,542
  • Mar 21, 2012 6:31am Mar 21, 2012 6:31am
Quoting simplicity
Hi overseaz,

I do not trade 15M often, but I saw same set up and took a try. Stopped at BE too
Hey Simplicity,
I'm still trying to decide which TF would work better for me. I used to trade on 5M and now if I try 15M, I look at 5M as well. Forcing myself to stick to one TF:-)
Alec
Look for reasons not to take a trade.
  • #9,543
  • Mar 21, 2012 6:42am Mar 21, 2012 6:42am
Just took this one on 15M. DT> IB breakout.
Update: Stopped at BE
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Look for reasons not to take a trade.
  • #9,544
  • Mar 21, 2012 8:12am Mar 21, 2012 8:12am
Quoting pipmunks
We don't need to debate on things like this .
See the chart, same situation. IB break upside, forming PB, but different result. Every moment in trading is unique. Nothing 100% in trading (i think we all agree on this).
Good trading to all of you.
Attachment
the best thing is if we debate with open mind ,we all will learn many things from each other.thats the beauty of debateing.
friendly debate is very important for learning..

Quote
We only need to put odds in our favor, pick good setup, add good money management and let market do the rest.

this is the main thing we have to acccept to get money out of the Market everyday.. you are very inteligent person.

all the best to all of you..
Regards
sho
  • #9,545
  • Mar 21, 2012 8:58am Mar 21, 2012 8:58am
Quoting simplicity
EUR/USD double top playing and stopped: -5p
i guess you mean double bottom
Tough Times Never Last But Tough People Do
  • #9,546
  • Mar 21, 2012 9:36am Mar 21, 2012 9:36am
Quoting trade price
the best thing is if we debate with open mind ,we all will learn many things from each other.thats the beauty of debateing.
friendly debate is very important for learning..



this is the main thing we have to acccept to get money out of the Market everyday.. you are very inteligent person.

all the best to all of you..
Regards
sho
Hello Mr.Sho. I'm agree with you. Sharing is beautiful, so we can learn from the others. I'm learn a lot from you . But applying what we learn to everyday market situation is different story. That's how we get experience, learning by doing. In this process, "searching for holy grail mentality" won't help, it will ruin our trust if we face failed setup. Rather than trust the method, it creates doubt when we see another setup and fail to take the setup. This will lead to endless search for holy grail.
Keep it simple & accept the result is the best thing we can do.
Thank's for the V Mr.Sho.

Good trading to all of you.
  • #9,547
  • Mar 21, 2012 9:40am Mar 21, 2012 9:40am
GU M15

3 times short entry. 2 loss and one winner. But made a litte money

Thx Sho for not only teaching good setups but also teaching trademanagment!
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  • #9,548
  • Mar 21, 2012 10:08am Mar 21, 2012 10:08am
Quoting loog12us
i guess you mean double bottom
Sorry. You are right. It was double bottom
  • #9,549
  • Mar 22, 2012 4:19am Mar 22, 2012 4:19am
I was under impression that if I switch from 5M TF to 15M, trading would be more relaxing because of less opportunities to enter and of course 15 M takes longer to develop. Bigger stops, but targets would be bigger also. So, I would just easily find 2-3 entries a day with the Keltner in the direction of 15M trend and double my target from 20 pips a day to 40. Yesterday I was analyzing the charts at the end of the day, thinking that if I have to trade like a robot and enter every time I see the setup with no hesitation. That's how many entry points I found ! (London and first 3 hours NY) Please see the charts. If you guys see more entry points or would not enter at some point, please feel free to comment.
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Look for reasons not to take a trade.
  • #9,550
  • Mar 22, 2012 4:22am Mar 22, 2012 4:22am
2 more. I watch 4 pairs))
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Look for reasons not to take a trade.
  • #9,551
  • Mar 22, 2012 4:46am Mar 22, 2012 4:46am
GBP/USD short and stopped: -8p
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  • #9,552
  • Edited 5:02am Mar 22, 2012 5:01am | Edited 5:02am
Quoting overseaz
2 more. I watch 4 pairs))
Hi Alex,those are good entries.Unfortunately hindsight is always 50/50..To see the setups in real time would be a different story.There will be some trades that i might not have taken maybe due to a demand or supply level but would have work out pretty well.
  • #9,553
  • Mar 22, 2012 5:21am Mar 22, 2012 5:21am
Quoting khairul81
Hi Alex,those are good entries.Unfortunately hindsight is always 50/50..To see the setups in real time would be a different story.There will be some trades that i might not have taken maybe due to a demand or supply level but would have work out pretty well.
Hi Kai,
How did you choose 5M instead of 15M TF. The method rules started with 15M. Do you trade on 15M at all? I personally gave 5M a try because I traded before with 5M(different method). If we look at today's fast market move because of the news, than I'm thinking about different TF at different market conditions when day trading. As far as I remember, Sho's comment on switching time TF during one trading session would be something like: that's where disaster will come :-) Hmm...I would like to hear Sho's opinion on when he is using 15M and when 5M. May be he already answered that. I was not able to read all posts in this thread yet. May be he left it unanswered as a puzzle to all of us...?
Look for reasons not to take a trade.
  • #9,554
  • Mar 22, 2012 5:29am Mar 22, 2012 5:29am
Quoting overseaz
Hi Kai,
How did you choose 5M instead of 15M TF. The method rules started with 15M. Do you trade on 15M at all? I personally gave 5M a try because I traded before with 5M(different method). If we look at today's fast market move because of the news, than I'm thinking about different TF at different market conditions when day trading. As far as I remember, Sho's comment on switching time TF during one trading session would be something like: that's where disaster will come :-) Hmm...I would like to hear Sho's opinion on when he is using 15M and...
Well i choose 5 because my personality dont really like waiting.I prefer to be right or wrong very fast.Sho is a veteran trader and he watches a lot of market.I myself can only monitor 2 maybe 3.
  • #9,555
  • Mar 22, 2012 5:34am Mar 22, 2012 5:34am
Quoting simplicity
GBP/USD short and stopped: -8p
Hi Simplicity,
Did you enter at next OB setup? I know it's easy to say after the fact. I'm trying not to switch from 15M TF this week. So I missed all the big move today because of no entry point on 15M.
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Look for reasons not to take a trade.
  • #9,556
  • Mar 22, 2012 5:51am Mar 22, 2012 5:51am
Quoting overseaz
Hi Simplicity,
Did you enter at next OB setup? I know it's easy to say after the fact. I'm trying not to switch from 15M TF this week. So I missed all the big move today because of no entry point on 15M.
Hi Alec,

I did not and would not take that outside bar because price found some support at that level.
Don't worry if you miss some trades the market is still there. Do not force yourself to take the bad set up.
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  • #9,557
  • Mar 22, 2012 5:54am Mar 22, 2012 5:54am
EUR/USD short and stopped: -7p
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  • #9,558
  • Mar 22, 2012 5:55am Mar 22, 2012 5:55am
Quoting overseaz
Hi Kai,
How did you choose 5M instead of 15M TF. The method rules started with 15M. Do you trade on 15M at all? I personally gave 5M a try because I traded before with 5M(different method). If we look at today's fast market move because of the news, than I'm thinking about different TF at different market conditions when day trading. As far as I remember, Sho's comment on switching time TF during one trading session would be something like: that's where disaster will come :-) Hmm...I would like to hear Sho's opinion on when he is using 15M and...
time frame is personal choice..in forex higher time frame better..
in stock daytrading 5 mins better with time and sales( experience).
still diffrent people will say something diffrent...... its like choseing a car... but all depends how well you can drive! how fast can you handle..is the road is good enough for fast driving ?or is it not??
my advice is-
if you trade with lower time frame, you make sure you trade with higher time frame supply and demand level..i prefare 4 hour supply and demand level..its more stable ,..
yes i do trade tick data...but it all depends.if i trade 15 or five or 4 still i look at the tick data.. i will make a video soon trading tick data..

all you need is follow your rules ... with time and experience it all will come to you..
hope this helps..
  • #9,559
  • Mar 22, 2012 6:40am Mar 22, 2012 6:40am
Quoting trade price
time frame is personal choice..in forex higher time frame better..
in stock daytrading 5 mins better with time and sales( experience).
.....
Hello Mr.Sho, can't wait the video about trading with tick data. I've experimenting trading with tick data, but lately found that trading with tick data really dependant on good tick data feed. The problem is, many broker manipulated their tick price, so the price will move smoothly. Can't get the feeling of how price moving if the tick is manipulated. How's your thought about this Mr.Sho?
  • #9,560
  • Mar 22, 2012 7:14am Mar 22, 2012 7:14am
Quoting pipmunks
Hello Mr.Sho, can't wait the video about trading with tick data. I've experimenting trading with tick data, but lately found that trading with tick data really dependant on good tick data feed. The problem is, many broker manipulated their tick price, so the price will move smoothly. Can't get the feeling of how price moving if the tick is manipulated. How's your thought about this Mr.Sho?
you are right
its nearly impossible to make money for us (retail trader) just trading tick data.. coz we dont have real orders..
we just combine normal tick data with supply and demand level ,candle formation,also pattern formation to get better edge. and we trade..
nothing is 100%..we only trade probability.. dont forget their job(broker)is to make money as well
principle is same , we trade supply and demand levels. look for intraday trend for day trade..trade trend and counter trend (depends)..
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