Hello Friends! Congratulations to all the past holidays! Let me ask one question on your system. Tell me please, can I trade with dimensions H4 and what should be setup? Thanks for the reply.
- #8,502
- Jan 8, 2013 3:40pm Jan 8, 2013 3:40pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hello Friends! Congratulations to all the past holidays! Let me ask one question on your system. Tell me please, can I trade with dimensions H4 and what should be setup? Thanks for the reply.
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,503
- Jan 8, 2013 3:53pm Jan 8, 2013 3:53pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
RJ how it is in your case? I mean at H1, H4. Are you drawing supports and resistances on H4, and trend lines on H1? Or is only a few seconds, like "O! Today is uptrend."?
love
K
Generally speaking I enter trades off the M5 chart and I flick between the M5 and M15 to get an idea of what has been/or what is, going on today. The M15 shows the short term trend and it's good to be trading in this direction.....however, I will take counter trend trades when all the indicators say so.....after all.....it can't go in one direction for ever! Mostly these counter trend trades are triggered by a historical support/resistance line or a an important round number etc. If you look back on some of my charts posted you will see where I use the H1, H4, Daily and even Weekly charts to spot strong area's of support and resistance which *might* be a turning point for the market. When I see these area's a plot them on my charts (and sometimes post them here) and keep them ready to see what happens when the PA approaches it. Here is a recent example post.
Doing what you like is Freedom. Liking what you do is Happiness.
Good Evening Folks!
Today I did take a look at EA Pair, between London Open and Close. 5 minutes before London open, we can see an arrow who indicate ourselves that this pair should be going going down, which it did. One issue we could see, was the 5M stoch wasn't on a perfect position, so I did question myself how could I have seen that trade coming. The answer was the M15 TF. When I did switch on M15, I did see short signal on Frankfurt Open. The 15M Stock was also coming down nicely.
Arrow + Genesis Signal + Below R1 + 15M stoch!
Another important thing. Right after that I saw the 15M stoch, I did come back on the M5, and I did realize something that RJ said a lot of time to us all. If we are looking at M5 stoch :
My first though was : The stoch didn't came from OB so this is a no-go...
My second though, right after seeing that 15M stoch : The 5M stoch tried, but wasn't able to go in OB...
STOCH IS NOT A SIMPLE OB/OS INDICATOR!
If we add all those factors, I think this could have been a HPT. Please don't hesitate to comment or correct me if i'm wrong! I appreciate everyone inputs Thanks!
Malouin
P-S The entry i'm talking about are between FF and London Open, so no red line was draw!
Today I did take a look at EA Pair, between London Open and Close. 5 minutes before London open, we can see an arrow who indicate ourselves that this pair should be going going down, which it did. One issue we could see, was the 5M stoch wasn't on a perfect position, so I did question myself how could I have seen that trade coming. The answer was the M15 TF. When I did switch on M15, I did see short signal on Frankfurt Open. The 15M Stock was also coming down nicely.
Arrow + Genesis Signal + Below R1 + 15M stoch!
Another important thing. Right after that I saw the 15M stoch, I did come back on the M5, and I did realize something that RJ said a lot of time to us all. If we are looking at M5 stoch :
My first though was : The stoch didn't came from OB so this is a no-go...
My second though, right after seeing that 15M stoch : The 5M stoch tried, but wasn't able to go in OB...
STOCH IS NOT A SIMPLE OB/OS INDICATOR!
If we add all those factors, I think this could have been a HPT. Please don't hesitate to comment or correct me if i'm wrong! I appreciate everyone inputs
Thanks!Malouin
P-S The entry i'm talking about are between FF and London Open, so no red line was draw!
Slowly, but surely...
- #8,506
- Jan 9, 2013 1:58am Jan 9, 2013 1:58am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,508
- Jan 9, 2013 2:25am Jan 9, 2013 2:25am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
yes, took some of those but why did I muck about with the GBP? Can't it just make up it's mind and go one way please?
Doing what you like is Freedom. Liking what you do is Happiness.
- #8,512
- Jan 10, 2013 1:30am Jan 10, 2013 1:30am
Nice call Wiz, PA did reach S1! I really should make my own "Rule Sheet", with about 10 criteria, where I would be able to "rate" the trade I would take. Then, only take those who get 7/10 or 8/10.
Malouin
it is important to have a trading plan and a game plan if you want to succeed in this business .... but please keep it simple! Don't overcomplicate what it is simple (I am not saying easy). You just need buy when price goes up and sell viceversa when it goes down.
If you read this thread you can find some simple "rule" to have high probabilities to be on the right side. Besides the first post give you the Genesis simple entry rules.
Anyway enclosed what I used before understanding the basic rule some times ago, it is in italian but it could be an helpfull exercise to translate it ;-)
ciao
wiz
You control how you trade; the market controls how and when you'll get paid
- #8,514
- Jan 10, 2013 4:10am Jan 10, 2013 4:10am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
Here was I thinking this was going to be a quiet pre-BOE/ECB morning.
Fantastic volatility on EJ and GU
Fantastic volatility on EJ and GU
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #8,515
- Edited 6:54am Jan 10, 2013 6:03am | Edited 6:54am
Hi Genesis followers,
follow up of my two days ago trade and today trade. This time I tried to write my thoughts during this trade.
follow up of my two days ago trade and today trade. This time I tried to write my thoughts during this trade.
- I was short on EU since 2 days ago (see my post #8501). I didn't like PA in these last days because trend wasn't strong and price couldn't reach my TP1.
- Yesterday after testing 3 times DP as I said (post # 8514) PA went short again BO the trendline but without great excitment.
- Between yesterday and this morning (asian session) PA tested 3 times 3040 level without any BO. This was an interesting key level in the recent past (not only yesterday DS1) and today it looks like to keep.... well this is enough for me to close the short and wait what will happen.
- This morning before FF open there was a very good Genesis signal after the third test and bounce but I didn't take it for two reasons: (a) I don't like to take trades before FF open particularly when the market conditions aren't clear in my mind (2) the RR was not good enough ... I had DP and Yesterday close just on my way. ==> My plan was to wait for a retest of the broken TL and DP in order to go long or short.
- Well ... PA looks like to want going up, my only concern is stoch which is overextended, let me think. OK if I put a SL 15p below the previus swing my first obstacle could be 3087 DR1 and yesterday swing, this means a RR=1 ... here is where many hours in front of the screen make the difference and my gut feeling said GO.
- I was waiting with my finger on the mouse the stoch confirmation .... and it crossed up.
OK and now ... always the same story.
TACTICS and MM
- TACTICS & MM
- SL = 15pips
- TP1 = 3100 - 3035 area if DR1 BO ==> 30-60 pips
- TP2 = 3157 - 3170 area or more ==> >100 pips
- RR > 2 - 6
- Moved SL to BE +1 after 30 pips to protect my trade and have a free trade. Let us see what will happen and ready to add new units tomorrow eventually.
Final thought : In this business it is important to be flexible and read what the PA is telling. Never stick to your trade but only to your trading plan. I have no ego and I can change my idea in a flash if I need ... at least most of the time, I am a human being anyway
ciao
wiz
You control how you trade; the market controls how and when you'll get paid
- #8,516
- Jan 10, 2013 8:01am Jan 10, 2013 8:01am
Hi Genesis followers,
Final thought : In this business it is important to be flexible and read what the PA is telling. Never stick to your trade but only to your trading plan. I have no ego and I can change my idea in a flash if I need ... at least most of the time, I am a human being anyway
ciao
wiz
.... and days like this one pay you back.
You control how you trade; the market controls how and when you'll get paid
- #8,518
- Jan 10, 2013 9:30am Jan 10, 2013 9:30am
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The EUR/USD soared on ECB's Draghi remarks at the monetary policy press conference. After the announcement of an unchanged refi rate at 0.75%, President Mario Draghi hinted that inflation should decline below 2% during 2013.
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Thank you my dear Italian friend
The EUR/USD soared on ECB's Draghi remarks at the monetary policy press conference. After the announcement of an unchanged refi rate at 0.75%, President Mario Draghi hinted that inflation should decline below 2% during 2013.
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Thank you my dear Italian friend
You control how you trade; the market controls how and when you'll get paid
