True Trading Tactics | Page 49 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Carpe diem: Intraday tactics for Dax and Dow 54,658 replies

What tactics will prevent getting hurt in enormous swings? 7 replies

NEWBIE Tactics! 18 replies

S/R Trading tactics 4 replies

True Range Trading 2 replies

Attachments: True Trading Tactics
Exit Attachments

True Trading Tactics

  • #961
  • Apr 9, 2012 10:51am Apr 9, 2012 10:51am
Quoting ali-en85
Hi, this is my firs post here.
I would like to say to kraven that his method of trading and this thread are great. I was trading similar to KRC system for a year, but now I modified it a little thanks to this thread and my profit is even better

keep the good work
Welcome to the forum

Could you please post, or PM your "similar to KRC system"?
I would like to take a look at it.
Many thanks,
Paul.
  • #962
  • Apr 10, 2012 2:19am Apr 10, 2012 2:19am
Quoting thachtucp
Hi Omd, your chart is same with me.
Cause of the time zone of broker (server time zone can be GMT+0).
I think you should use other broker's platform for analyse (ex: GTM+2, GTM+3).
thanks
  • #963
  • Apr 10, 2012 8:28pm Apr 10, 2012 8:28pm
hello all,

no entries today for me, However, I have just entered the 1hr GU. SL 13 TP 33.
  • #964
  • Apr 10, 2012 9:36pm Apr 10, 2012 9:36pm
Just My 2 cents.I am trading similar setup and with the help of other tools but in higher timeframes.This rejection candles give you a new trend 70% of the time.So,I started trading in Higher timeframes with the help of 200 ema and 5/10 ema crosses.The same setup i made 1500pips in one week still holding the positions.Just a questions y r u guys not trading higher time frames? my loss is 250 pips but it is small for what i have got.

Cheers
Prakash
I am a hunter...i kill both bulls and bears...
  • #965
  • Apr 11, 2012 2:18am Apr 11, 2012 2:18am
hi,

I had one entry on U/C yesterday, it turn out to be a small loss. nothing to worry about. As kraven said there was no clear signals yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 16 KB
  • #966
  • Apr 11, 2012 2:40am Apr 11, 2012 2:40am
May I know this EU setup valid?
Attached Image (click to enlarge)
Click to Enlarge Name: Setup.jpg Size: 117 KB
  • #967
  • Apr 11, 2012 5:02pm Apr 11, 2012 5:02pm
Quoting oathbreaker
Just My 2 cents.I am trading similar setup and with the help of other tools but in higher timeframes.This rejection candles give you a new trend 70% of the time.So,I started trading in Higher timeframes with the help of 200 ema and 5/10 ema crosses.The same setup i made 1500pips in one week still holding the positions.Just a questions y r u guys not trading higher time frames? my loss is 250 pips but it is small for what i have got.

Cheers
Prakash
i trade daily's too.
  • #968
  • Apr 11, 2012 5:06pm Apr 11, 2012 5:06pm
Quoting kraven
hello all,

no entries today for me, However, I have just entered the 1hr GU. SL 13 TP 33.
i was a sleep when my TP hit, it went up 65 before it turned
  • #969
  • Apr 12, 2012 6:54am Apr 12, 2012 6:54am
thanks Kraven for this nice method
eur/jpy daily need to break 106.67
Attached Image (click to enlarge)
Click to Enlarge Name: kraven 1.gif Size: 40 KB
  • #970
  • Apr 12, 2012 4:46pm Apr 12, 2012 4:46pm
alkenany I got in E/J at 106.80 (it's -19 at the moment) also got in on U/C at 1.0005 (+60 up) SL to BE now tp at .9905ish.
got a pending order in on U/J
  • #971
  • Apr 12, 2012 6:58pm Apr 12, 2012 6:58pm
Quoting kraven
alkenany I got in E/J at 106.80 (it's -19 at the moment) also got in on U/C at 1.0005 (+60 up) SL to BE now tp at .9905ish.
got a pending order in on U/J
I have changed the trend MA to be 20LWMA, better to see the trend on H4 chart when decide to take atrade.

Allso set target at fibo extention

we will be OK
Attached Image (click to enlarge)
Click to Enlarge Name: kraven3.gif Size: 44 KB
  • #972
  • Apr 13, 2012 6:37am Apr 13, 2012 6:37am
longed EU H1 chart 1.3165
Attached Image (click to enlarge)
Click to Enlarge Name: k4.gif Size: 44 KB
  • #973
  • Apr 13, 2012 8:49am Apr 13, 2012 8:49am
Using these reversal candles has been a key component to my trading for quite a while, though I trade them a bit differently.

1. I look for these reversal candles to be out of the way of previous price, I won't take a signal that is in the middle of consolidation or in the middle of any recent price. I will take signals at the tops or bottoms of these areas but not in the middle. This limits your trading opportunities but also significantly increases your win %.
2. My entries are 1 pip above below the signal candle high/low depending on direction
3. my stops are 2 + spread pips beyond the wick for a stop.
4. Fixed TP of 20 pips per trade on the 15 min changes
5. BE after 10 pips.
6. The trade either hits my tp, ends at be or hits my sl. I do not mess with a trade once I have taken it.
7. I don't use the reentry methods outlined in this thread, there is nothing wrong with them, its just not part of my trading method.
  • #974
  • Apr 13, 2012 10:06am Apr 13, 2012 10:06am
Quoting endroute
Using these reversal candles has been a key component to my trading for quite a while, though I trade them a bit differently.

1. I look for these reversal candles to be out of the way of previous price, I won't take a signal that is in the middle of consolidation or in the middle of any recent price. I will take signals at the tops or bottoms of these areas but not in the middle. This limits your trading opportunities but also significantly increases your win %.
2. My entries are 1 pip above below the signal candle high/low depending...

I agree with you about using set targets and allowing the trade to fail or succeed with no interference.

When you say about trading reversal candles which are out of the way of previous price - is it sufficient to look at candles which form at the current day's high/low or do you have further criteria?
  • #975
  • Apr 13, 2012 10:24am Apr 13, 2012 10:24am
daily highs and lows are good places. I added a chart marked up with entries from the past couple of days that should illustrate

A couple of other rules I have that I forgot to add, its hard to pay attention to charts and maintain a train of thought:

1. ignore entries where the preceding candle was very large in relation to the rest of the candles.
2. goal of 40 pips per day
3. stop trading @ -40 pips
4. trade from 6am - noon eastern standard time (you could trade from london open / NY London overlap) the idea is to trade when there is the most volatility.
5. if price begins to bunch up get out and look for a new entry, this is my only exception to the leave the trade alone idea.
Attached Image (click to enlarge)
Click to Enlarge Name: aj.jpg Size: 115 KB
  • #976
  • Apr 13, 2012 5:12pm Apr 13, 2012 5:12pm
Hi all,and Thank you Kraven! Now I just tell u only this word!

Last night(21:00-1:00GMT+9hours),I can get about 270pips in 4hours.I'm happy now^^

EURUSD,AUDUSD,AUDJPY,NZDUSD,USDCHF and USDCAD chart,I could find the entry sign.Then I got many pips(for me).



p.s
I'm sorry,if my english is bad.please don't angry.my 1st language is Japanese.In my daily life,I don't speak and write English...
  • #977
  • Apr 13, 2012 7:26pm Apr 13, 2012 7:26pm
I got 80pips.thank u Kraven!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 39 KB
  • #978
  • Apr 14, 2012 3:43am Apr 14, 2012 3:43am
Quoting Seneca pilot
These bars do work but if you just take every one that comes along you will loose. You have to find the right situations. If you only took three or four trades a week but had an impressive win rate and good r/r would you be happy? Think before you answer. Most people act in their trading as if they can't make money unless they are trading all the time. This leads to overtrading. I am going to include a couple of charts illustrating some good setups but you have to wait for them. Any one hour bar that makes a new high and finishes red could loose...
If you follow the above advice (and examples) you will stand a chance of making a profit. The first three pages, or so, of this thread describe a strategy which will destroy your account unless you already know how to trade off support and resistance areas. Another point to make is chase a good reward:risk ratio.
Gone to a better place
  • #979
  • Apr 14, 2012 4:05am Apr 14, 2012 4:05am
Here is an example of using divergence to give a better entry. Note, if you use the candle for your SL and TP size, the first example would give 1 : 1, the second goes to 6 : 1. Obviously we should move to break even as soon as possible (1 : 1) and hold as long as possible...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd120414h1paint.gif Size: 33 KB


Unfortunately, the second example would not make 6 : 1 if you moved your stop to break even at 1 : 1.
Gone to a better place
  • #980
  • Apr 14, 2012 4:17am Apr 14, 2012 4:17am
Here's what to look for if you want the best entries. It's worth waiting if you can.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd120414h1candlepowerpaint.gif Size: 30 KB



Notice how long it took to make 1 : 1 if you used the candle length as your guide. Lots of patience needed, to wait for the set up and to wait for the profit. Rookies would lose money on this.
Gone to a better place
0 traders viewing now