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Intraday price action trend trading

  • #9,601
  • Edited 9:54am Mar 27, 2012 9:49am | Edited 9:54am
A lot of good confluence there..A good demand level,break of trendline,divergence..
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  • #9,602
  • Mar 28, 2012 3:48am Mar 28, 2012 3:48am
I haven't posted for a while been busy with other things.

i tend to look at the higher TFs to get an idea of trend direction and I like the 30m chart for PA particularly when the market is in a tight range like it was this morning at Frankfurt open, 23 pips over night, and then look at the 5m chart for entry.

At the end of the day it comes down to being lucky enough to catch the initial momentum of a move it's down to individual interpretation how we do this there is no one fits all approach. The important thing is to keep the SL small and taking the small loses until you get it right and then ride the momentum to a logical TP point.
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  • #9,603
  • Mar 28, 2012 7:21am Mar 28, 2012 7:21am
Quoting stevepatt
I haven't posted for a while been busy with other things.

i tend to look at the higher TFs to get an idea of trend direction and I like the 30m chart for PA particularly when the market is in a tight range like it was this morning at Frankfurt open, 23 pips over night, and then look at the 5m chart for entry.

At the end of the day it comes down to being lucky enough to catch the initial momentum of a move it's down to individual interpretation how we do this there is no one fits all approach. The important thing is to keep the SL small and...
Hi Steve,

Long time.. glad to see you're still kickin the great setups! Even though you're using some different lines on your charts, you are still nailing the same solid setups. Good job buddy.

-Joe
  • #9,604
  • Mar 28, 2012 10:14am Mar 28, 2012 10:14am
Quoting jsmanuse
Hi Steve,

Long time.. glad to see you're still kickin the great setups! Even though you're using some different lines on your charts, you are still nailing the same solid setups. Good job buddy.

-Joe
Hi Joe,

Glad to see your still around. The horizontal lines are still MML I've just highlighted the major ones they're very good for setting TP targets like this morning. I'm also using the keltner channel as intorduced on this thread by Sho.
  • #9,605
  • Mar 28, 2012 10:37am Mar 28, 2012 10:37am
Hope we all can learn something..I need to stop overtrading.Its causing me un neccessary small losses..
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  • #9,606
  • Mar 28, 2012 10:51am Mar 28, 2012 10:51am
Textbook entry...Where r u Sho? really anxious to see about tick data..
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  • #9,607
  • Mar 29, 2012 5:15am Mar 29, 2012 5:15am
its today.
eur/jpy and
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eur/usd
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  • #9,608
  • Mar 29, 2012 5:44am Mar 29, 2012 5:44am
Quoting khairul81
Hope we all can learn something..I need to stop overtrading.Its causing me un neccessary small losses..
Hi Kai,
Overtrading is a great topic to discuss.
Just trying to think here about this. Lets say we have a day target ?? pips. and also we need to cut our losers somehow...
It would be nice to hear everybody's opinion on this topic. What's the best way to avoid overtrading?
We need to protect our capital first.
If lost ?? pips in one day, stop trading for the day.
May be having only certain amount of trades a day would work better? Only ? trades a day, no matter wins or losers.
Any suggestions?
Look for reasons not to take a trade.
  • #9,609
  • Mar 29, 2012 5:47am Mar 29, 2012 5:47am
Thx Sho, it is good to know you are still watching!

Got a trade at EUR/JPY, but stoped out. But got another trade USD/JPY and closed at TP maybe just luck because this time i didnt set the stop to BE.
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  • #9,610
  • Mar 29, 2012 6:02am Mar 29, 2012 6:02am
Quoting Clean Chart
Thx Sho, it is good to know you are still watching!

Got a trade at EUR/JPY, but stoped out. But got another trade USD/JPY and closed at TP maybe just luck because this time i didnt set the stop to BE.
more rely on trend and impulsive move..
higher low is text book theory. trade with the momentum not higher low and lower low or lower high.dont give up your best setups for these..

if you get stoped out too quickly try to use lower time frames impulsive and corrective move with high low as stop level.
  • #9,611
  • Mar 29, 2012 6:03am Mar 29, 2012 6:03am
Quoting Clean Chart
Thx Sho, it is good to know you are still watching!

Got a trade at EUR/JPY, but stoped out. But got another trade USD/JPY and closed at TP maybe just luck because this time i didnt set the stop to BE.
Hi Clean Chart,
i am just thinking, you know with Sho's rules we hav 2 attemps to catch a trades and if it is an A+ even a third one.
So after you stopped out on the PIN there was a test of the breakoutline and so for me a very good setup to go short
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  • #9,612
  • Mar 29, 2012 6:17am Mar 29, 2012 6:17am
Chart
same rule as 15 mins
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  • #9,613
  • Mar 29, 2012 6:23am Mar 29, 2012 6:23am
Hi overseaz

For me a day target or just a certain amount of trades a day wouldn’t work. Why stop trading at a good trendy day? Just because you got what you want? I´m doing it the other way. Stop trading after a couple of loss. Then i´m going out for a run or a workout at the gym. I first start trading the next day, or if the loss happened at the Frankfurt session i try a new one at the NY open.


It is very hard to avoid the bad trades, because you dont know which one would be a winner and which one a looser. I hope a lot of screentime would help me get the good ones and avoid the bad.


Just my opinion
  • #9,614
  • Mar 29, 2012 6:25am Mar 29, 2012 6:25am
Quoting trade price
its today.
eur/jpy and
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eur/usd
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Hi Sho,
Thanks a lot for great chart lessons. It's so kind of you to stay here with us.
I wanted to ask you about overtrading and our capital protection. What would be your suggestion about managing the trading day? How did you manage to protect your capital back when your were learning to trade? How to protect our capital the best way? Have certain amount of trades a day may be, or stop trading after certain amount of losers?
Thanks again for your great help!
Alec
Look for reasons not to take a trade.
  • #9,615
  • Mar 29, 2012 6:28am Mar 29, 2012 6:28am
Quoting trade price
more rely on trend and impulsive move..
higher low is text book theory. trade with the momentum not higher low and lower low or lower high.dont give up your best setups for these..

Thank you Sho! That was very important for me!

Thank you MJurban you are completly right!
  • #9,616
  • Edited 6:55am Mar 29, 2012 6:43am | Edited 6:55am
Quoting Clean Chart
Hi overseaz

For me a day target or just a certain amount of trades a day wouldn’t work. Why stop trading at a good trendy day? Just because you got what you want? I´m doing it the other way. Stop trading after a couple of loss. Then i´m going out for a run or a workout at the gym. I first start trading the next day, or if the loss happened at the Frankfurt session i try a new one at the NY open.


It is very hard to avoid the bad trades, because you dont know which one would be a winner and which one a looser. I hope a lot of screentime...
So you just stop trading for the day after 2 losers and if you are winning, you keep trading. That's a nice approach. Thanks Clean Chart!
Look for reasons not to take a trade.
  • #9,617
  • Mar 29, 2012 7:37am Mar 29, 2012 7:37am
Quoting overseaz
So you just stop trading for the day after 2 losers and if you are winning, you keep trading. That's a nice approach. Thanks Clean Chart!
Alec, it is not exact 2 loosers. It is about 3-5 loosers, depends on the market and my condition on that day.

Do you know the days with no real setups and you are forcing yourselft to trade? At such a day i stop trading right after the first trade because it is always a looser


How are you today. I like the trades you posted the last days. Hope you got some pips!
  • #9,618
  • Mar 29, 2012 8:33am Mar 29, 2012 8:33am
Hi guys,took 2 trades..out with a little profit..
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  • #9,619
  • Mar 29, 2012 8:52am Mar 29, 2012 8:52am
Quoting Clean Chart
Alec, it is not exact 2 loosers. It is about 3-5 loosers, depends on the market and my condition on that day.

Do you know the days with no real setups and you are forcing yourselft to trade? At such a day i stop trading right after the first trade because it is always a looser


How are you today. I like the trades you posted the last days. Hope you got some pips!
I'm trying to keep out of those forces and focusing on "green light" when crossing the road
Practicing every day. Having a little issues today with going short for some reason. I took the same trade you did on EJ and didn't take the next one (IB) and missed IB Pin which I believe was A+. So many 15M opportunities today. Still lots of work should be done on my part. Will work on that.
Thanks for asking.
Alec
Look for reasons not to take a trade.
  • #9,620
  • Mar 29, 2012 9:20am Mar 29, 2012 9:20am
Hi guys,I think the problem for most people including me is following our rules and taking the best setups.I do make silly mistakes which just don't make sense sometimes.
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