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  • #2,981
  • Feb 14, 2013 6:21am Feb 14, 2013 6:21am
EJ sell
Attached Image (click to enlarge)
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  • #2,982
  • Feb 14, 2013 6:25am Feb 14, 2013 6:25am
Quoting kester
EJ sell
nice midband play well over +30 atm..
great job
  • #2,983
  • Feb 14, 2013 6:55am Feb 14, 2013 6:55am
Quoting P.Dean
nice midband play well over +30 atm..
great job

Thanks

After seeing 40 pips, i had to close with 15 pip.
I'm through for today. and look forward for a pipsful tomorrow
  • #2,984
  • Feb 14, 2013 7:24am Feb 14, 2013 7:24am
Quoting kester
Thanks

After seeing 40 pips, i had to close with 15 pip.
I'm through for today. and look forward for a pipsful tomorrow
good job.

I got very unlucky on that damn cj trade.. held it forever but as soon as it hit my sl at BE by 1 sticking pip then it charged down for 40+... eeeeeeamazing.
me done too after that for today.

Trade well everyone.
  • #2,985
  • Edited 9:14am Feb 16, 2013 8:51am | Edited 9:14am
Hi folks,

Some of the trades on the explorer are on longer tf (1hr and 4hr).. same strategy as 5m tf with some adjustments due to longer frame sake. I trade them at lower lot size bcz of larger trade duration to avoid too much capitol hung up.
The same philosophy and ground work are involved in all my trading as i have been doing the something for a long time now bcz it simply has worked and its the way to go. anyways i don't want you to feel left out and be confused on whats happening.

An successful trader must be able to trade or at least know the mechanics of all phases of trading.. short term, long term and even scalp. Knowing whats happening on longer frame will help your short frame and vise versa.. you atta be a all around player.

If you all find interest I would lay out the detail plan for longer term trading so you could follow along. Ok make yourself visible and express your interest, if I see a lot or enough of you, then I would make the effort.

By the way.. if you wonder why I am so transparent and sharing, like it can't be true. I gotta tell you that i can care or less if you know every bit of my trading.. simply because this damn pie is so big and so vast that it would not make any difference to my ends meat.. you would not make the market move for me or against me.. or stop me from profitability.. to me it's absurd to think so. anyways just wanted to clear that up.

Have a nice weekend.
  • #2,986
  • Feb 16, 2013 11:14am Feb 16, 2013 11:14am
Interested, tma true and retrace finder have both been wonderful additions to an indicator world where 99% of it is crap. would 1-4h be mom trades with fib support off the previous days candle or something of that nature?
  • #2,987
  • Feb 17, 2013 11:31pm Feb 17, 2013 11:31pm
Good day
P.Dean I am very much interested in learning the little modification you have made to the system.

Have a nice trading week
  • #2,988
  • Feb 18, 2013 1:25am Feb 18, 2013 1:25am
Hi everyone,

First day of the week to look ahead for the rest of it.. exited and ready to go.

Chart update (5m)..
No real move on most majors with exception of GU.. overall inside 40pips range i look to see more of range real breakout of the bands as alert to even pay attention to the chart.

GU has made a move as I mentioned and still a lot remains to be seen but once i see a decent move i Plot the Fib and keep things under my radar.

ok lets roll..


ps) about the 1hr interest.. not enough interests out there obviously, as the interest gains I will put the time into it. Sorry for the inconvenience to the already interests and i appreciate it.
  • #2,989
  • Feb 18, 2013 1:56am Feb 18, 2013 1:56am
ok folks i give some insight about this GU setup in the making or NOT..
somethings to consider for better decision making when setup is presented with different shape and forms and a little insight about my use of fib..
look a the chart..
the swing out is about 63pips as fib start to end plotted.. now look at the band relation to MA 100.. it has barely drawn outside of the band which tells me the move is not as strong with necessary momo.. and all that is as a result of a short lived swing and a quick PB..
now this signal is rejected simply bcz of the way PB has shaped and zipped through the sell zone (38%-61%) and took out the 76% mark.
but let say if it had not taken the 76% and bounced off the 61% i would take the trade but considering it as a weak signal and be extra careful by keeping my expectations in check.

so once the move is smaller than usual with less momo like this example.. my really expectations is for the continuation move to not continue now and even bounce up... so better setup would be further move down and a new PB.

I hope it serves well.
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  • #2,990
  • Feb 18, 2013 5:40am Feb 18, 2013 5:40am
As i explained earlier in the above post and the result was a solid detecting of a trap on weak momo setup.

A) Weak swing out.. (size and ma relation to band)
B) Quick and larg PB.. (take out of 76%)
C) NO momentum remaining for continuation breakout.. (result of A & B combo)
D) Bounce the other way.


of course it will not bounce every time and could make a weak continuation but it happens enough to make you stay away from and stick to more better setup to plant higher probability setup and Win % percentage.

this example today was a very easy one to detect.. sometimes the damn thing is well hidden, buttttt.. with pre-planing and awareness and enough trades under your belt it becomes simpler to catch most if not all.

I hope it helps you all.
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  • #2,991
  • Feb 18, 2013 7:23pm Feb 18, 2013 7:23pm
thanks, P.Dean. Your trading explorer is in fact the only one that I see on FF that shows convincing performance. it in some way changes my view of trading. Please keep this going, as I'm religiously follow your teaching and sharing.

one question i have is that could your methodology be applied to daily/weekly timeframe? it will significantly reduce trading cost(spread), if so.

Quoting P.Dean
As i explained earlier in the above post and the result was a solid detecting of a trap on weak momo setup.

I hope it helps you all.
  • #2,992
  • Feb 18, 2013 11:57pm Feb 18, 2013 11:57pm
Monring all,

Chart update..

we close to an hour inside eu open and on the edge of London open.. I see only the JPY pairs making some move outside the band rest are pretty much ranging. I got my fib plotted on ej, cj for now, the moves are as strong but still is swinging out so remains to be seen.

I'll give updates and post live trades and would like to hear yours as well.


Trade well.
  • #2,993
  • Feb 19, 2013 12:30am Feb 19, 2013 12:30am
Hi all
I am a day trader also and would like to contribute to this thread with some info and hopefully help few traders out as well.
I also trade maily day trading and I actually use thinkorswim platform. I trade futures, aud/jpy and many options with fantastic or rather extremely good results on daily basis. I am willing to share some of the trades and why I think they were relevant.

I use price action, watching how it moves, does it break certain price levels, does it go up, fade out, kick out or simply go flat for a period of time.
I can share some trades with people and we can help each other with our daily trading goals. I am successful in 8 or 9 trades out of 10 most of the time and trade 1 minute and sometimes daily chart also. I attach a chart of a trade i would have made. Its aud/jpy selling at the price on the charts, exiting at 96.30. Thanks
Attached File(s)
File Type: docx aud jpy trade.docx   167 KB | 429 downloads
  • #2,994
  • Edited 1:15am Feb 19, 2013 12:33am | Edited 1:15am
Quoting charvo
thanks, P.Dean. Your trading explorer is in fact the only one that I see on FF that shows convincing performance. it in some way changes my view of trading. Please keep this going, as I'm religiously follow your teaching and sharing.

one question i have is that could your methodology be applied to daily/weekly timeframe? it will significantly reduce trading cost(spread), if so.
Thanks for your kind words and props brother.. all I hope is to serve good to the community.

Ok to answer your question.. I am sure it could with some tweaking, because the trading philosophy is solid all around but i have not gone higher than 4hr.
I give you some stats so you could figure out if its worth it to go for much higher TF or not.
on 1hr tf.. you get about 50 trades a year for each major pair which is about 4 trades a month.. and on 4hr about 10-12 trades a year which is 1 a month.. so surly it will get slower as you go higher but with solid adjustment to RR and will need to bring in the combination of technical and fundamental, Microeconomics stuff, bcz now your depending on bigger move to make RR fit well.
so as a technical trader more so than other stuff..
I have chosen for my long term trading to go with no higher than 1hr or some 4hr with about 1:2 RR ratio (+80-50) and not depending so much on big moves and screen time suits me as i need to watch the chart every a few hours as it gives me a balance to know enough of whats going.


I hope my answer is good enough.
  • #2,995
  • Feb 19, 2013 12:38am Feb 19, 2013 12:38am
Quoting whet412
Hi all
I am a day trader also and would like to contribute to this thread with some info and hopefully help few traders out as well.
I also trade maily day trading and I actually use thinkorswim platform. I trade futures, aud/jpy and many options with fantastic or rather extremely good results on daily basis. I am willing to share some of the trades and why I think they were relevant.

I use price action, watching how it moves, does it break certain price levels, does it go up, fade out, kick out or simply go flat for a period of time.
I can...
welcome to the thread friend.. it would be a pleasure to have a trader such your caliber active in here.. the floor is yours.
one small request if you don't mind.. is it possible to post your chart with gif or something visible apparently i can not open this one. thanks a lot.

Trade well.
  • #2,996
  • Edited 9:15pm Feb 19, 2013 7:15am | Edited 9:15pm
very good, and thank you Dean. I did find that from 1H and up to daily TF will generate much fewer trades, as you described. Some tweaking is indeed needed here (if i trade it on higher TF).

Quoting P.Dean
I hope my answer is good enough.
  • #2,997
  • Edited 12:53am Feb 20, 2013 12:42am | Edited 12:53am
hello,

Chart update,
Not much happening all across.. eu has made some bullish move but atm it lacks momentum.. the moves on uj nz uc are decent and may worth a shot at.. remains to be seen how the PB shapes.

It's been a slow week as no real momentum in the market and the good thing about what we do here is that it keeps us sitting on our hands, so No or less losses during momo less times. I have had only one 1hr trade and one reversal trade so total two trades.

ok.. ambush time..
  • #2,998
  • Feb 20, 2013 1:41am Feb 20, 2013 1:41am
short on uj.. is not the best setup as i feel it lacks strenght.. but worth a show with low risk.
lets see what happens..
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  • #2,999
  • Feb 20, 2013 2:38am Feb 20, 2013 2:38am
just took a short sbpt trade on eu hourly tf.. aiming for 80 with 30 risk.
  • #3,000
  • Feb 20, 2013 2:50am Feb 20, 2013 2:50am
Quoting P.Dean
short on uj.. is not the best setup as i feel it lacks strenght.. but worth a show with low risk.
lets see what happens..
-16.. I was expecting that.
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