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Buy sell line trading

  • #1,341
  • May 22, 2012 7:53pm May 22, 2012 7:53pm
Quoting markd85
Hi Sijeeva
Nice trade you got there. What pair and TF? I took a H4 short in EU this morning for 80 pips. Very nice for my first trade with this stategy. Also, If I'm not mistaken, a daily EU short has just fired. What do you guys think? Sorry, I can't post charts right now.

Hey 60MM
Thanks for bringing this strategy public here on FF. I'm wondering, I've been watching all the primo webinars and I havn't come across the alternate entry you show in post 1. Is this a primo setup or not? It's a good clean setup either way. Thanks again.
Mark
au - h4

good trade on eu

daily eu bearish engulfing has fired but i need a nice pull back nearer to 50sma for perfect setups

any comments ?
  • #1,342
  • May 23, 2012 12:51am May 23, 2012 12:51am
Quoting sijeeva
60mm thank you

Here is my first trade of your method with clear setup taken in my live account wowwwwwww...

AUDUSD - H4

http://i641.photobucket.com/albums/u.../auchart-1.gif
really nice... clear downtrend, lovely deep retrace, great price action and momentum.... textbook buy sell line trading
tradewith60
  • #1,343
  • May 23, 2012 4:50am May 23, 2012 4:50am
Another trade for this week


http://i641.photobucket.com/albums/u...eva/usdcad.gif
  • #1,344
  • May 23, 2012 7:42am May 23, 2012 7:42am
Any Noobs out there looking for a solid trading method. This is the one of the best.

Read through the thread watch the videos or links.

This is the one to sink your teeth into and learn..

Simple and very effective.

Cheers
Bluesteele
Master your Mind,,,Master the Market
  • #1,345
  • May 23, 2012 10:07am May 23, 2012 10:07am
Quoting bluesteele
Any Noobs out there looking for a solid trading method. This is the one of the best.

Read through the thread watch the videos or links.

This is the one to sink your teeth into and learn..

Simple and very effective.

Cheers
Bluesteele
Couldn't agree more bluesteel, pure price action
  • #1,346
  • May 23, 2012 5:31pm May 23, 2012 5:31pm
Quoting sijeeva
60mm thank you

Here is my first trade of your method with clear setup taken in my live account wowwwwwww...

AUDUSD - H4

http://i641.photobucket.com/albums/u.../auchart-1.gif

Interesting how different brokers draw these candles differently... missed the entry by two pips on my broker. Nice trade for you though...
  • #1,347
  • May 24, 2012 7:43am May 24, 2012 7:43am
Hi, 60 Minuteman

Thank you for posting a great system. Nice and simple with no question about entries! I am busily reading through the thread and will try some trades on demo. I have had a quick look at gold and WTI(Nymex) and it is looking like a pip machine!

NT
  • #1,348
  • May 24, 2012 10:08am May 24, 2012 10:08am
Quoting nitetrader
Hi, 60 Minuteman

Thank you for posting a great system. Nice and simple with no question about entries! I am busily reading through the thread and will try some trades on demo. I have had a quick look at gold and WTI(Nymex) and it is looking like a pip machine!

NT
Not looked at it on Oil before nitetrader but I have now and you're right
  • #1,349
  • May 24, 2012 10:58am May 24, 2012 10:58am
Quoting rover99x
Not looked at it on Oil before nitetrader but I have now and you're right
just remember... best set ups are at the end of retraces, most risky are at the end of a move... sell high, buy low... etc etc blah blah blah...
tradewith60
  • #1,350
  • May 27, 2012 10:15pm May 27, 2012 10:15pm
Hows everyone going . This thread has certainly helped me to stop taking so many trades and to wait for better setups. Thanks to sixty, hope this thread continues and we can help each other to spot potential setups. I am in australia and note most of you are on here for the US session. Good trading to everyone.
  • #1,351
  • May 27, 2012 11:56pm May 27, 2012 11:56pm
Quoting 60minuteman
just remember... best set ups are at the end of retraces, most risky are at the end of a move... sell high, buy low... etc etc blah blah blah...
This is excellent advice,thanks

NT
  • #1,352
  • May 28, 2012 9:01am May 28, 2012 9:01am
Hi 60mm

Do you pay any attention to the higher time frames?

IE. if price is below the SMA on the 4 hour but above the SMA on the one hour?

I am undecided about that, part of me says....just decide what time frame you are trading and trade the candles on that time frame, but the other part of me thinks that if price is under (or over) on both time frames maybe the signal is stronger?

thx!

PGPB
  • #1,353
  • May 28, 2012 9:38am May 28, 2012 9:38am
Quoting pgpb
Hi 60mm

Do you pay any attention to the higher time frames?

IE. if price is below the SMA on the 4 hour but above the SMA on the one hour?

I am undecided about that, part of me says....just decide what time frame you are trading and trade the candles on that time frame, but the other part of me thinks that if price is under (or over) on both time frames maybe the signal is stronger?

thx!

PGPB
I know some of the members on the specialist trading course swear by this... but its not something I do.

But when there is a strong trend, like in the dollar crosses now I just wait for the trades with the dominant trend... for instance if h1 crossed the sma and gave a long on EU i wouldn't be interested, i'm only looking for short set ups.... for now.
tradewith60
  • #1,354
  • May 29, 2012 7:53am May 29, 2012 7:53am
Hi there 60mm

Do you find trades every day, or are there days you sit on the sidelines?

I know it makes sense to wait for the best set up, rather than trading for the sake of trading.

How many pairs do you scan through looking for a good looking set up?

I do hope that you continue to share some of your trades, I am quite certain that this method has made a huge difference to a lot of traders. I have only traded this sporadically due to demands of my job and I am up about 300 pips this month with about a 85% win ratio

thx!

PGPB
  • #1,355
  • May 29, 2012 8:23am May 29, 2012 8:23am
Quoting pgpb
Hi there 60mm

Do you find trades every day, or are there days you sit on the sidelines?

I know it makes sense to wait for the best set up, rather than trading for the sake of trading.

How many pairs do you scan through looking for a good looking set up?

I do hope that you continue to share some of your trades, I am quite certain that this method has made a huge difference to a lot of traders. I have only traded this sporadically due to demands of my job and I am up about 300 pips this month with about a 85% win ratio

thx!

PGPB
Hi Pg... I'm continually tweaking my way of trading these ideas, I keep lots of data on my trading and I'm always open to changing techniques based on the market conditions.

Right now with the strong trends I do this....

First I use the 50sma on daily to pick the trend,

Then I mark the daily s/r levels to look for retracements,

Then I wait for H1 to give me an engulf or a type 2 entry at those lines.

I am for the next daily s/r levels below for targets and try to let them run as long as possible.

I get a few trades every day doing this.

I took AJ AU and GU today....

The whole Idea with buy sell is that these concepts can be a solid template to build a strategy that suits your trading style and psychology, from short time frame scalping to long term swing trades.

As long as we have trend, retrace, price action and momentum....

Then its just a case of testing it well and building a risk model to maximize it...
tradewith60
  • #1,356
  • May 29, 2012 8:56am May 29, 2012 8:56am
Quoting 60minuteman
.....and try to let them run as long as possible.

.
thanks, I appreciate all that you wrote, especially the part about letting them run.

I gotta get better at that part.

Aiming for the next S & R or at least a better than 1 : 1 ration will help.

I really appreciate this thread.

PGPB
  • #1,357
  • May 29, 2012 9:25am May 29, 2012 9:25am
PG here is an example of my new slant on buy sell trading...

Daily is in a strong downtrend, lovely steep slope on 50sma..

Looking to sell h1 engulfs at the high of retraces to daily s/r lines

Again I must stress, there's hundreds of ways to trade this systems, nothing is set in stone, its the concepts of trend trading that matter the most... you don't need a high win rate, you just need consistency and a decent r/r...
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tradewith60
  • #1,358
  • May 29, 2012 7:41pm May 29, 2012 7:41pm
i am really in love with your system.Could you please carry me along on your live trade today just to see whether I am doing the right thing with you ?
With patience and discipline,you move beyond the sky
  • #1,359
  • May 30, 2012 1:01am May 30, 2012 1:01am
[quote=60minuteman;5706143]I know some of the members on the specialist trading course swear by this... but its not something I do.

Hi 60mm This is the first system i'm having some success on and I can't thank you enough

Can I ask you who the training course was with?

Was it on price action and do you think we would get something from it ?

I definitely think price action is the way to go, much more reliable than all those lagging indicators.

Martin
  • #1,360
  • May 30, 2012 2:02am May 30, 2012 2:02am
[quote=ukmartin;5711414]
Quoting 60minuteman
I know some of the members on the specialist trading course swear by this... but its not something I do.

Hi 60mm This is the first system i'm having some success on and I can't thank you enough

Can I ask you who the training course was with?

Was it on price action and do you think we would get something from it ?

I definitely think price action is the way to go, much more reliable than all those lagging indicators.

Martin
The training course is with specialist trading run by Steve Primo.

Would you get anything from it? that's a good question, and it really depends where you are at in your trading....

Trading strategies are actually fairly simple to work out once you understand how the market works...

The fact is that most traders that are failing are failing because of themselves, not the strategies they're using.

There are a few things you MUST do.... these are what changed me from breaking even to making money every week.

1. you have to write down your plan.
2. you have to then test the plan and write down the results.
3. you then have to build the risk model from those results.
4. Trade the plan everyday... and continue to keep the data.

(you need to know 100% in your head that what you're doing works... you have to believe it)

When I did this for my trading I discovered a few interesting things....

1. If I let all my trades run for bigger r/r when an instrument was trending my win rate dropped by quite a large amount.... but, the money I made went up by a large amount.

2. I knew from my data that it was quite possible to have 8 consecutive losers.... but I would win so much on my winners that it didn't make any difference to my profit.

So armed with the information it is now very easy for me to deal with the psychological side of trading...

I have no fear entering trades, Its just a systematic thing...

I have no worry about a winner coming back and stopping me out because i know the ones that don't will be big winners.

last point because im rambling.... DONT get caught in the trap of needing to win.... its all about big wins and small losses... 50% win rate is definately enough... just 5 out of 10 winners will be great... BUT, you have to have a way of winning 2/1, 3/1 or more on those winners.... suss that out and you're there!
tradewith60
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