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Intraday price action trend trading

  • #9,641
  • Apr 9, 2012 10:28am Apr 9, 2012 10:28am
Quoting xyzxyz
Sho,
today I got so many stop loss (@7-10pip) and till now didn't get some profit.
is it because bad day to trade or my analysis is wrongfull?

Please anyone help me..

regards,
xyzxyz
usually go with higher timeframe....low time frames too much nice and rather significant support and resistances will help
  • #9,642
  • Apr 9, 2012 10:55am Apr 9, 2012 10:55am
Quoting xyzxyz
Sho,
today I got so many stop loss (@7-10pip) and till now didn't get some profit.
is it because bad day to trade or my analysis is wrongfull?

Please anyone help me..

regards,
xyzxyz
Dont take a short there. Momentum is upward. Take a look at the two big white bars at 15:45

Take a look what Sho wrote about momentum and impulsiv / correctiv move.
  • #9,643
  • Apr 9, 2012 5:58pm Apr 9, 2012 5:58pm
Quoting Clean Chart
Hi xyzxz!

For me its a valid entry at #9638 . Nice downside momentum. Not the best setup because of the red pinbar befor your setupbar but a agressiv one.

Dont worry about the loss. We dont know which trade is a winner and wich one a looser, thats why we use small stop.

Just go one, train your eyes. And demo first.

Be a bit careful today. Its ester in europe lots of the big players arent on your side today. They are in holiday.
Thank's Clean Chart for the comment..
glad to know that this thread still live..
I will learn and practice more..
  • #9,644
  • Apr 9, 2012 6:05pm Apr 9, 2012 6:05pm
Quoting SnaveForex
usually go with higher timeframe....low time frames too much nice and rather significant support and resistances will help
Thanks SnaveForex..
high TF just to point the S/R right? we will open in TF 15m..

regards.
  • #9,645
  • Apr 9, 2012 6:28pm Apr 9, 2012 6:28pm
Quoting Clean Chart
Dont take a short there. Momentum is upward. Take a look at the two big white bars at 15:45

Take a look what Sho wrote about momentum and impulsiv / correctiv move.
Yes.. there are 2 strong bullish bars at the down trend.. but befor I thought trend still down.. these 2 bars are unusual bars.. IC..

regards..
  • #9,646
  • Apr 10, 2012 10:22am Apr 10, 2012 10:22am
Short afternoon session. Got 3 trades, 3 x tp

17:00 usdcad long 1,00260 sl 1,00162 tp 1,00372 (tp 19:18)
17:17 audusd short 1,02666 sl 1,02763 tp 1,02553 (tp 17:51)
17:51 usdjpy short 80,928 sl 80,998 tp 80,855 (tp 18:15)
Attached Image (click to enlarge)
Click to Enlarge Name: after.jpg Size: 37 KB
  • #9,647
  • Apr 11, 2012 12:30am Apr 11, 2012 12:30am
Quoting Clean Chart
Short afternoon session. Got 3 trades, 3 x tp

17:00 usdcad long 1,00260 sl 1,00162 tp 1,00372 (tp 19:18)
17:17 audusd short 1,02666 sl 1,02763 tp 1,02553 (tp 17:51)
17:51 usdjpy short 80,928 sl 80,998 tp 80,855 (tp 18:15)
Hi Clean Chart,
I can't see anything on these images. Can you zoom it a little, please.
Thanks
Alec
Look for reasons not to take a trade.
  • #9,648
  • Apr 11, 2012 1:55am Apr 11, 2012 1:55am
audusd yesterday and now
Attached Image (click to enlarge)
Click to Enlarge Name: alec.gif Size: 50 KB
  • #9,649
  • Edited 2:37am Apr 11, 2012 2:20am | Edited 2:37am
Quoting Clean Chart
audusd yesterday and now
Nice and clean)) Thank you.
What broker do you use to get this kind of good charts?
Looks like it's ranging today. Hope you closed AU at BE
Look for reasons not to take a trade.
  • #9,650
  • Apr 11, 2012 2:46am Apr 11, 2012 2:46am
Quoting Clean Chart
audusd yesterday and now
It was a loss for me.
Attached Image (click to enlarge)
Click to Enlarge Name: loss.gif Size: 42 KB
  • #9,651
  • Apr 11, 2012 3:19am Apr 11, 2012 3:19am
Its a real acc at CMC Markets. I used it a long time before with the old platform called “markets pro” trading stocks.

They now have a browserplatform and nice spreads. But there are a lot of bad reviews about CMC. But I still got some money there and want to try because of the spreads.

Using it for forex only this month. Price is almost like at active trades. Ive only had one little gap at EURUSD (0,7 pip) that my active trade account didn’t showed.

At SL I sometimes get a slippage (0,1-0,8 pip / bad for me) but got as well a slippage at TP (but only 0,1-0,4 pip / good for me)
Market entry is quick.

Maybe in a few month I can tell more.
  • #9,652
  • Apr 11, 2012 3:31am Apr 11, 2012 3:31am
1.break is entry signal.
2.not an entry signal,just pause of momentum.dont enter like this as it is at support.even though you got a winner.long run it would not work.
3.entry.
4.entry.
5.Entry and loss.
6.entry.
7.entry.
8.look what happened.trend line.
9.your first target should be recent support.as we are day trader

Attached Image (click to enlarge)
Click to Enlarge Name: loss.gif Size: 50 KB
  • #9,653
  • Apr 11, 2012 3:39am Apr 11, 2012 3:39am
Don't you guys love it when Sho comes in and kicks our butts!
  • #9,654
  • Apr 11, 2012 3:48am Apr 11, 2012 3:48am
Quoting Clean Chart
Its a real acc at CMC Markets. I used it a long time before with the old platform called “markets pro” trading stocks.

They now have a browserplatform and nice spreads. But there are a lot of bad reviews about CMC. But I still got some money there and want to try because of the spreads.

Using it for forex only this month. Price is almost like at active trades. Ive only had one little gap at EURUSD (0,7 pip) that my active trade account didn’t showed.

At SL I sometimes get a slippage (0,1-0,8 pip / bad for me) but got as well...
CMC is the worst one for slipage. as i had very bad expeience with them couple of years ago.this is why they can afford to offer smaller spread.
  • #9,655
  • Apr 11, 2012 4:40am Apr 11, 2012 4:40am
Quoting khairul81
Don't you guys love it when Sho comes in and kicks our butts!
You are right! Love it!

Thanks Sho for not beeing tired looking at us and giving us a look at the market with your eyes!

And thank you for your advise on cmc. I think you again saved me a lot of money! Hope i someday can give just a little back to you.
  • #9,656
  • Apr 11, 2012 6:31am Apr 11, 2012 6:31am
Quoting trade price
1.break is entry signal.
2.not an entry signal,just pause of momentum.dont enter like this as it is at support.even though you got a winner.long run it would not work.
3.entry.
4.entry.
5.Entry and loss.
6.entry.
7.entry.
8.look what happened.trend line.
9.your first target should be recent support.as we are day trader

Attachment
Sho, it took me a while to think about it. Im not completly clear about number 2 you wrote.

I found a chart where there is a momentum bar and then a pinbar. Is it no entry signal and just pause of momentum there? Or is this a valid entry?

Am i right if i say the chart GU 20.03 is a valid entry, and the chart AU from today is not a valid entry because of the support i marked?

Hope i got it right
Attached Image(s) (click to enlarge)
Click to Enlarge Name: no signal.gif Size: 25 KB
Click to Enlarge Name: support.gif Size: 39 KB
  • #9,657
  • Apr 11, 2012 7:53am Apr 11, 2012 7:53am
It's hard to find a reliable broker. I started today with Pepperstone. Good reviews, I tried demo for few months and liked it. Still thinking to try Alpari UK but read bad things about it and I heard that they use pro spreads on demo and bigger spreads on regular MT4 account. I still have my FXPro. They used to gave 0.8 pips spread on EU but since they launched ECN service the spread jumped to 1.8. Swiched to Pepperstone because of no connection at FXPro one month was every other day for 5-60 minutes. First day with Pepperstone real - no connection for about 40 minutes! Thanks god I closed my position just before it happened.
Look for reasons not to take a trade.
  • #9,658
  • Apr 11, 2012 9:20am Apr 11, 2012 9:20am
so glad, can learn from you Sho. I hope this will continuous.
thans..
  • #9,659
  • Apr 12, 2012 12:51am Apr 12, 2012 12:51am
Mr. Sho or anyone,

Is my entry at EU and UCH OK?
Please teach me..
Attached Image (click to enlarge)
Click to Enlarge Name: EU&UCH 12042012.png Size: 34 KB
  • #9,660
  • Apr 12, 2012 1:21am Apr 12, 2012 1:21am
Quoting xyzxyz
Mr. Sho or anyone,

Is my entry at EU and UCH OK?
Please teach me..
Learning myself, but I think there is no room to go up at that moment if you look at 4H chart.
Just my opinion.
Sho, please correct me if I'm wrong.
Alec
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 30 KB
Click to Enlarge Name: 2.gif Size: 25 KB
Look for reasons not to take a trade.
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