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  • #621
  • Dec 6, 2012 1:12pm Dec 6, 2012 1:12pm
Quoting 9er
Actually it pierced 23.6 and touched 50 then returned the call to the gartley!
yes - well called
BTC Return This Year: na
  • #622
  • Dec 6, 2012 9:48pm Dec 6, 2012 9:48pm
Market is very quite at this time. Waiting for NFP, stay alerted
Dangdut is a music of my country
  • #623
  • Dec 6, 2012 9:49pm Dec 6, 2012 9:49pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
I based most of my trades from the 15M and 30M yesterday. The last one I took was surmised from the 1H. The news release came out, I was watching the 200 from the 15M and also the upper trend line from the 1H.

When I made the post that both TF's held, I went to the 1H (even though the candle hadn't finished) and dropped a sell stop at it's current low (this turned out to be the candle that went from the top TL to the bottom, and really not an example of a good trade, but rather an example of news working in my favor. Call it lucky

Before the ECB conference and the US news, it appeared that the bulls had the bears in a sleeper choke and were putting them to sleep. I was actually getting ready to go long

I even posted one long trade that was taken out at BE.

No worries if you hang around here you'll start to get the hang of it

Quoting vahn
this really need experience to do all your trade. a really good trade by you 9er. i still try to understand why you took every position you posted for today.
  • #624
  • Dec 6, 2012 9:55pm Dec 6, 2012 9:55pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
The 1H. Notice on the attached chart the ABCD pattern. Notice that C to D is shorter in "distance" than the A to B leg. I personally think the C to D leg is not finished yet.

Although it might be safe to assume that price will be sideways for most of the day.
Attached Image (click to enlarge)
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  • #625
  • Dec 6, 2012 10:46pm Dec 6, 2012 10:46pm
Quoting 9er
The 1H. Notice on the attached chart the ABCD pattern. Notice that C to D is shorter in "distance" than the A to B leg. I personally think the C to D leg is not finished yet.

Although it might be safe to assume that price will be sideways for most of the day.
the alligator has just ate a lot of food yesterday, so it's seems a bit full for now.
  • #626
  • Dec 6, 2012 10:58pm Dec 6, 2012 10:58pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Thank you. I do plan to be around so long as the contributions of everyone remain positive!

Quoting tinypip
9er - Thank you for sharing your trading style. This is a very interesting thread - and well managed I might say. I would like to contribute but need to read the thread, docs + books being referenced before doing so. Until then I will be visiting often. I hope you will stay active (running this thread) for a long time. Well done!
  • #627
  • Dec 6, 2012 11:00pm Dec 6, 2012 11:00pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Glad to help. Keep in mind though, this is not a system - it is a style and mindset! Appreciate the feedback!

Quoting zionsmilos
9er grateful.
still trying to understand the entries, but today and yesterday was great day with your system.

PS.: Sorry for the English.
  • #628
  • Dec 6, 2012 11:11pm Dec 6, 2012 11:11pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
I have been waiting for this to happen. I was pleased when I opened this thread today and saw some very nice contributions from different traders. If we can all keep the same mindset, and trade this "style" of trading, we will ALL benefit from this thread. Thank you for your contributions

Please keep the contributions coming! On Tuesday the 11th of Dec I am embarking on my Family Christmas Vacation. I will pop in every now and then, but for the most part I won't be around. I would like to ask the following traders to help me keep this thread alive during my absence.

Mr. Pip (might be a good time to introduce PRZ?)
iqyu5an
NuNix

And any other trader that feels they have the pulse of this style of trading and the mindset inside this thread! I will be in and out today, at least until the NFP later on.
  • #629
  • Dec 7, 2012 12:38am Dec 7, 2012 12:38am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Daily: Speculation is that we are still in an uptrend. In the aftermath of what was a series of devastating news releases for the EURO zone, price went to exactly the 38.2 Fib retrace (remember strong trending markets often retrace to the 38.2). Until NFP today, market will more than likely be very quiet and speculation on where this charts ends up is driven today, by the news. Trade cautiously

Bias: reserved, no speculation
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  • #630
  • Dec 7, 2012 12:50am Dec 7, 2012 12:50am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
4H: Using the last C to D leg, I drew fibo and determined that price dropped to just shy of the 78.6. Will there be a pullback? Of that I am sure, however what we are looking at now, I surmise to be the A to B leg. If this premise is true then the next move on this TF will be bullish to the 38.2 to 50.0 we have ALL time frames 5M,15M,30M & 1H below the 200.

If price on the 4H moves to a key Fibo area (completing B to C) we can then expect a move to 2840 area and anticipation of the 200 SMA break (believe iqyu5an predicted this a few days ago!)

Again - speculation based and surmised prior to NFP today! We may well see price move back the other way!
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  • #631
  • Dec 7, 2012 1:33am Dec 7, 2012 1:33am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Vahn - my trade management style is what works for me. My formula has kept me out of many bad trades. I am glad you picked up on this as I rarely enter a trade at "market"

When a key area is targeted, whether it be the 200, a pivot, a candle or even a fractal, my entry is based on price "breaking" those key areas.

Many times what you will see is price "piercing" a key area and going opposite of your trade premise. With that I will share my premise and expound on why I never trade any pair with a 4 pip or higher spread.

My formula for entry: 1 pip plus or minus the spread

trigger area Long: Example, the high of the target indicator let's say candle is 1.28421 (my broker is 5 digit). I set a buy stop at that candles high, plus the spread, plus 1 pip, so my Buy stop will be: 1.28421 + 1 pip + spread (2 pips) = 1.28451 (IBFX spread for EU is 1.5 pips, I just round it up)

For a short: Example, the LOW of the target indicator (candle) is 1.28421 MINUS the spread minus 1 pip: 1.28421 - 1 pip - spread (2 pips) = 1.28391

I like low spread pairs because using this formula keeps your stop order tighter to the trigger or target area. Plus when my trade triggers I am only down 2 pips to start, a much more managable risk.

Quoting vahn
what i learn from what 9er do today is he always put position (buy stop / sell stop) in certain distance below PA if PA try to test some resistance or above PA if PA try to test some support. The support can be MA 200, Pivot, Channel Trendline or Fibonachi Level.

Price already broke H1 MA 200. bearish is dominating. how low can it go?
  • #632
  • Dec 7, 2012 1:45am Dec 7, 2012 1:45am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Why do I only trade EU? I used to bounce ALL over the place. GBP, JPY, AUD and found myself losing pretty consistantly. My opinion is that "repetition" is the best teacher. If you look at only one pair over and over and over again for a few years, you slowly become accustomed to it's characteristics.

By trading one pair and sticking to ONE PAIR you WILL over time, become very fluid with it's characteristics. You will become an expert of that pair.

My recommendation to any trader (take if you want): choose a pair and trade only that pair for the rest of your trading life! You will get good at it, that much I can promise~
  • #633
  • Dec 7, 2012 1:51am Dec 7, 2012 1:51am
Quoting 9er
Sure we can not use it at times. However, as I said previously I need to see some progression through the 4H chart. An argument can be made for pullback or reversal. In my experience until all time frames line up and all drop below the 200 there is always speculation that this is simply a pullback, false break etc.

For me the RSI is critical though. The only TF's where I might ignore the RSI are on the 5M and 15M. The higher the TF the stronger the indicator - at least from my humble perspective anyway.
Thanks niner. Since I saw the RSI misused and made over complicated in so many other systems, I previously just threw it out. But now that you say its just about the first thing you look for I will use it as my compass and pass on trades where the RSI is not above 50. Simple enough! -)
  • #634
  • Dec 7, 2012 1:59am Dec 7, 2012 1:59am
i try to put the sell stop when the bearish gartley appear at M5 chart, the result is awesome.

i also add sell stop below the fractal outside alligator mouth at H1.
Attached Image (click to enlarge)
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  • #635
  • Dec 7, 2012 2:06am Dec 7, 2012 2:06am
Quoting 9er
Why do I only trade EU? I used to bounce ALL over the place. GBP, JPY, AUD and found myself losing pretty consistantly. My opinion is that "repetition" is the best teacher. If you look at only one pair over and over and over again for a few years, you slowly become accustomed to it's characteristics.

By trading one pair and sticking to ONE PAIR you WILL over time, become very fluid with it's characteristics. You will become an expert of that pair.

My recommendation to any trader (take if you want): choose a pair and trade only that pair for...
Agreed
Dangdut is a music of my country
  • #636
  • Dec 7, 2012 2:09am Dec 7, 2012 2:09am
My bias is still short. This is based on my experienced. Almost of the time i'm wrong about this simple analysis
Attached Image (click to enlarge)
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Dangdut is a music of my country
  • #637
  • Dec 7, 2012 2:13am Dec 7, 2012 2:13am
Quoting vahn
i try to put the sell stop when the bearish gartley appear at M5 chart, the result is awesome.

i also add sell stop below the fractal outside alligator mouth at H1.
I just wake up and open the chart.....wow you already start the move and catch a nice green pips
Dangdut is a music of my country
  • #638
  • Dec 7, 2012 2:20am Dec 7, 2012 2:20am
i am still learning, bro. just learned from what 9er did in his trade in this thread. i still confuse about exit strategy. my position got hit. only +15 and +1 profit

bias in H4 has changed into bearish. next support is MA 200
Attached Image (click to enlarge)
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  • #639
  • Dec 7, 2012 2:27am Dec 7, 2012 2:27am
using weekly.... the pa is heading ( seems like ) to 266x-2700 with first pit stop around 2850 +/- 10 pip . maybe not today but just 1 cent in my side
not euphoria follower
  • #640
  • Dec 7, 2012 2:42am Dec 7, 2012 2:42am
Quoting NuNix
The Progress : Price might be touch 1.292x or lower this week, then buying on deep looking for strength
Are you remember this?
Now price has touched 1.292x and 50 on rsi. I start looking for a little pullback from here or better wait till the NFP news
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Dangdut is a music of my country
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