My Iced Latte, Sandwich, Beer, and Midnight Randevous Trading Method

Hello:

It doesn't work to just enter reversal trades when price touches lines, and price could continue to go up and as such so would the trendline. If price gets near to or over one of the trendlines, this only means that it is time to start looking for a trade. This is when the other indicators come into play. Check out the timing indicatort and enter when it changes colors or if price crosses a counter trendline you would have drawn since price was so close to the lines.

Don't worry about the other timing indicator settings, just use the default of 7. But look for continuations with this indicator in conjunction with where price is around the channel lines and divergence as well.

You will figure it out, but 200 pips is nice and if you wanted to do that you could have, but you have to remember, that 200 pips is easy to to see after it happened, but harder to know when to enter and exit in real time. Thats what these indicators are helping with. When to enter and exit.

I have made a lot of modifications from what he does, but yes I do use some of the indicators that he does, BTW.. don't order thier signal service.. it is a joke and not based on thier trading system, but rather a breakout system.

Are you still here full of bs bss.. hahahahaha. Don't you ever go anywhere else except this place, Yous are still so transparent and predictable. I see after 10 vouchers you are still on everyone elses thread and not producing your own. What a success you are.

I am up 12 % at the moment, and closed one trade that I should not have. And I use 5 and 7 on my chart just to try and keep things in perspective. I will mostly use the 7 unless I have a hunch.

I also think that you get! Good job mate. I do not close the trade when it hits the yellow line. I really don't even go to break even and I don't eliminate partial positions. I am in all or nothing. You could close on the yellow line, but watch your countertrend lines and the timing indicator for continuatios and divergences.

Don't use the indicator to trade.

Crack open a Celebration Ale and enjoy it. Maybe even have another, but that is my limit

Just opened nzdchf short... follow along

BTW.. I am having my Iced Latte right now

Here we go.....

Price was nearer the upper red line than it is right now, but that has moved higher. However, price is very parallel still to the upper red line signifying that somewhere up here is the top of the range. I have convergence with a nice upper trendline that looks pretty good. Price looks like it want to go back to the lower green line as the lower part of the channel. Price has crossed my conuter trend line and safe setting for the timing indicator has turned colors in motion. Timing indicator has also given us a higher high. This means that price might not go all the way back down to the green line, but may just take a correction lower before heading higher, so I may be looking to enter long again once price corrects just a little bit. The key here is to try to stay in this trade all the way down to the bottom if it is going there and not exit on a pull back higher as it heads to the bottom of the range.

Risk reward is phenominal and I will adjust muy SL as I go lower based on a counter trend line. with a ratio like this, and if I lose, I sohould not have to martingale my trades for at 5 losing trades, if I even want to do it than.

Should be interesting. Lets see what happens.

Make sense to eveyone? How about you bs bss. Still don't get it!

Ask questions. I won't be around here, but will answer them wnen I get back

p.s. sorry for any spelling/punctuation errors. If that bothers you please don't let the door hit you on the way out. If you want to pay me I will be sure to make all corrections so there are no errors

What I have done is played the range here using a logical entry. I could very well be wrong. But, breakouts happen less then ranges, so at least that is in my favor.

Also notice that the channel lines are heading up. This is even more of an indication that I will be on the lookout for when and iff this thing turns around and heads back up.

Entered eurnzd Long

Going to go for it here. Price is near the lower green channel line and pair has been ranging for quite some time. We are also in parallel alignment with the lower green channel line. Agressive timing line has changed colors, but price has also gone above my counter trend line by just enough for me to enter the trade. A reasonable SL has been set. It seems lke there is a reasonable shot at success.

Please let me know if you have any questions. And always feel free to make observations or suggestions.

gbpusd short entered

gbpnzd long pending

Attached Image (click to enlarge)

Here is a few trades which anyone who wants to ananulyz and critique should feel free to do so.. I look forward to anyone's thoughts. Maybe see you again for the midnight randevous.

It seems the timing indicator can be used to indicate overbought /oversold levels.
Regarding the eurnzd trade , rsi was below 40.The small body candles indicate support at 1.5450. But i think yesterdays candle plays a key role . long lower wick Looks like lot of buyers accumulated by the end of the session or is it due to the profit taking from last swing??. a close above yesterdays candle would be interesting. the idea is not to enter after the reversal but enter while reversal is happening .nice
gbpusd hit major resistance.im more confident about ur EURNZD trade than GBPusd. Dont you think u entered too early on gbpusd. i think its worth waiting on gbpnzd.

here is a short setup that might develop on nzdusd. A close below yesterdays close is all i need to enter short.what say damon?? retesting of the previous support might happen if price wants to race up.

Don't Mock Billbss,

I think he's one of the guys that does get it on this forum.

ps, now lets see if i can get this re painting indicator to work on any time frame like you said ......hmmmm.

pps, Nah .......i'm off to the pub.

He didn't get it this time did he? I am only trying to help him get this time. The fact is that he came in and judged my book by its cover. So, if he quits being coy, I will quit mocking him. Fair?

Don't worry about the repainting indicator, focus more on what it revels to you in terms of locating positions in space, rather than using it to pinpoint a certain price (which no indicator will do for you). Good traders have to be able to see the forest, but by focusing on just the indicator you are only looking at a tree. Enjoy that beer!

No offense, but who cares about all that crap you just wrote about. Our race could cease to exist on Dec. 22nd as well. But, I am glad that you are seeing a lot of things on your chart, just don't get caught up in those details. Don't worry though man, I used to read a chart just like you.. I would see too many things that weren't important. I think with evaluations like that, that you are well on your way to be a great trader. But, you are evaluating too many things and it is keeping you from entering the market without fear. But, I think you will get over that fear. Just keep it up and don't mind me For know hopefully all you are seeing will help you from losing more money than you can afford to.

Your counter trend line on nzdusd is really nice. I hope you have also entered that trade. Now that I see where price is, I wish that I would have entered it. But, the facts for me are that there is no divergence on the chart, and the pair has recently broken out if a range to the upside, and from this point it will do nothing but hit support on the way down. However, that does not mean that it won't go lower. Because it might. .8350 -.8330 would be an area to watch for a swing back up.

Right now you are seeing wicks, but there are two kinds of wicks. One signally that price will reverse and one signally that price will not reverse. Which wick are you seeing?

Now that I relook at the nzdusd, I see that I missed that the channel indicator has idnetified that we were at upper level resistence. It only broke out of lower level resistence. So, your entry looks good. I would look just a little higher for support off the trend line that you drew in below current price.

If price comes back up a bit I think I will enter.

As for gbpusd. You might be right. I may have entered to early. NOw that I look at it I wonder what I saw that made me enter.. I don't remember, and I also no longer see it. Might have to evaluate that trade again quick.

Now onto my evaluations:

Charts 2012:14:12

The daily charts are really looking juicy for some major reversals coming up here. I just don't know when it will happen All the jpy crossover pairs are showing divergence as well as other pairs as well. I think as such I will be going to look at going to aggressive exits of my current open pairs and thinking about entering on the reversals. Not sure if I should enter the reversals aggressivel or consevatively though. It is Friday, and prices have gone a long way. Will we see major profit taking? hmmmmmmm

usdchf also shows divergence. The good news is that not of my aggressive signals have entered a reversal yet. It is scarier using aggresive signals before NY open, as we all know well enough that London's moves could have been just a pull back to the range when NY will take off again. This is more signal for me that it might be safe to use aggressive entries for the yen crossover divergence I am seeing.

usdcad long entry

Channel is showing that usdcad has hit support and that it is time for the pair to move higher. Trade entered, then drew a lower trend line to set a tight stop with in case it wants to go farther south.

I am not sure I understand what your question is.

Hi damonl!
I'll try your system, it seems very interesting to me. I add a few Supply/demand levels if you don't mind. UJ seems interesting too, please correct me if I'm wrong.
Thank you!

It looks great! What indicator is that you are using for identifying those other levels?

usdjpy is in divergence and I would certainly at this time go to the timing indicator for entry. Based on the fact that it is in divergence, I would go to the a more agressive setting on the timing indicator and when it swtiches colors, enter. Or place a counter trend line that you like and wait til price crosses it.

I don't trade usdjpy (I don't know why. Just don't like it for some reason), but if I was I would certainly be looking for a place to enter short.

I'm using the SupDem indicator that I get from this other thread: http://www.forexfactory.com/showthread.php?t=399684 ;post 26. I recomend read the thread to understand how it work.

Thank you. I will have to check out how it can add some assitance to what I am already using. I don't like a lot on my chart, but if it works, then fine and dandy. Maybe looking for the timing indicator to change off the bounce of one of these arrows or a cross of a counter trendline.