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  • #16,261
  • Mar 19, 2013 1:55am Mar 19, 2013 1:55am
Quoting Winner1245
i just read your post in X-man thread . I have read your earlier posts about R multiples.
Did u mean that , since the range of asian session is 25-30 pips today . My R would be the 25,so i have to look for how many R's i can get??
Im thinking 4R since its BO play and the R is low 25.
when you are trading 4H, you are trading the weekly swing.
What is the average traded range of GU on weekly basis?
You initial risk R is determined by volatility of the market which you want to survive after entry. Use technical stop like the most recent swing high / swing low or caculate ATR(10) and 2 times that and place your initial SL below the most recent consolidation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,262
  • Mar 19, 2013 1:55am Mar 19, 2013 1:55am
Quoting emmanuel7788
If a H1 entry shows up, I take that trade first as a intraday trade. Then when the trend runs, convert that to a swing trade and add-in more positions with your profit. The initial risk R for that trade remaions the same. In this way, you can end up with profits in terms of several R's when you first entered the market.

Use the TOK_5H high low for the trade grid size. Today is about 29pips.

Look forward to you discuss and share your 4H trading here in this thread. It will help more people.

Regards,
We got hell of a timing . lol
As i calulate now, the R is 28 .Thanks.
from now on, I will post my 4H trades here also.
I got one more question.
I have read in Phx posts also, that there will head-fake during london opening. How do traders avoid that??
  • #16,263
  • Mar 19, 2013 2:03am Mar 19, 2013 2:03am
Quoting emmanuel7788
when you are trading 4H, you are trading the weekly swing.
What is the average traded range of GU on weekly basis?
You initial risk R is detenrime by volatility of the market which you want to sruvive after entry. Use technical stop like the most recent swing high / swoing low or caculate ATR(10) and 2 tiomes that and place your initial SL below the most recent consolidation.
On 4hour chart, I use swing low/previous bar low most of the times. I will try to use ATR stops method.
  • #16,264
  • Mar 19, 2013 2:06am Mar 19, 2013 2:06am
Quoting Winner1245
We got hell of a timing . lol
As i calulate now, the R is 28 .Thanks.
from now on, I will post my 4H trades here also.
I got one more question.
I have read in Phx posts also, that there will head-fake during london opening. How do traders avoid that??
How do avoid head-fake? Good question.
I trust my most recent support and resistance and price action when I make my entry.
I always believe that I am right in every trade decision until the market proves me wrong. WEhen that happens, i have my stops in place to preserve my capital.

Read the 2 pdf compilation of Phx62. Identify the 5 distinct ways of his trade entries for EU. The way he trades EU is what I call TRADING MASTERY. That is when one achieved the stage of Unconscious Competence. That is also intuitive trading.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,265
  • Mar 19, 2013 2:10am Mar 19, 2013 2:10am
Quoting Winner1245
On 4hour chart, I use swing low/previous bar low most of the times. I will try to use ATR stops method.

Our post keep crossing each other while we type. LOL.
And we are now both in Singapore, maybe we should speak on the phone and that would be quicker in realtime mode. LOL.

Note: when market consolidate and there are obvious breakout, thousands of traders will see them easily. The last swing high/low may not be the best logical SL. Volatility will play out better. This is where the smart money will come into play. Be quick, Be nimble. Be smarter than the smart money, can we?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,266
  • Mar 19, 2013 2:22am Mar 19, 2013 2:22am
Quoting emmanuel7788
How do avoid head-fake? Good question.
I trust my most recent support and resistance and price action when I make my entry.
I always believe that I am right in every trade decision until the market proves me wrong. WEhen that happens, i have my stops in place to preserve my capital.

Read the 2 pdf compilation of Phx62. Identify the 5 distinct ways of his trade entries for EU. The way he trades EU is what I call TRADING MASTERY. That is when one achieved the stage of Unconscious Competence. That is also intuitive trading.

Regards,...
Great. Thanks for the reply. I think it is the 5th stage(unconscious competence) of traders.
Most of the entries he took are based on his trade plan combined with TDI, but what surprised me is the way he avoids "range market" even before it happened on a 1 hour chart.I can spot a range/thin market after i get whipsawed for 2-3 days straight but not "before it happened". Backtesting and keeping an eye on daily ADR/support /resistance .. as you said , is the key i guess. Since im concentrating on 4Hour method , I will backtest the 1 hour method on G/J and see.
  • #16,267
  • Mar 19, 2013 2:35am Mar 19, 2013 2:35am
Quoting emmanuel7788
Our post keep crossing each other while we type. LOL.
And we are now both in Singapore, maybe we should speak on the phone and that would be quicker in realtime mode. LOL.

Note: when market consolidate and there are obvious breakout, thousands of traders will see them easily. The last swing high/low may not be the best logical SL. Volatility will play out better. This is where the smart money will come into play. Be quick, Be nimble. Be smarter than the smart money, can we?
No, im not actually from singapore . From a neighbouring country .
I will consider ATR for BO's .
as i see my chart now, 28minutes to go.
Now If i want to avoid head fake , i have to add some buffer to the asian range combining with supp/resistances.??
If there is a downside BO play , i will look for price to breach the support 1.5068.
Howz my idea ??
  • #16,268
  • Mar 19, 2013 3:06am Mar 19, 2013 3:06am
Hello!
Monday was a lousy day for me. Couldn't come across any trades I liked and could afford. Today on the other hand I took this H4 AUD/USD:

http://img22.imageshack.us/img22/2217/auh420131903.jpg

I went short at the beginning of the most recet red candle at 6:00 GMT. That was the opening time of that candle. My stop loss is above 61.8, but I will pay attention to TDI. If it levels out, I'll also get out. So far that worked for me pretty well.


+ Fib is drawn from daily upswing. Exacty 61.8 retracement. The most recentlower high seemd to test same level, though I'd prefer it to be slightly higher.
+ Nice steep cross on TDI
+/- cannot decide wheter we are on daily uptrend or downtrend.

I did not get any really solid reasons supporting my entry, but there are no "against" reasons not to trade it? Can you please share your opinion of this trade? Thanks.


Have a good trading day!
Cheers,
M.
Remember I'm a newbie!
  • #16,269
  • Mar 19, 2013 4:12am Mar 19, 2013 4:12am
Set Ups I see tonight (Sorry no pics but it would take forever lol)

4HR candles starting at 9am GMT.

GBP/USD: Short, Bounce Signal
EUR/USD: Short, Cross Signal
AUD/JPY: Short, Cross Signal
USD/CAD: Long, Cross Signal
GBP/JPY: Short, Cross Signal

In progress, AUD/USD, short trade from last 4HR candle.

Thoughts on these set ups? I'm trying to get as much experience as possible in seeing the crosses and identifying them.
  • #16,270
  • Mar 19, 2013 4:28am Mar 19, 2013 4:28am
Dansk Daily updates
Attached File(s)
File Type: pdf DanskeTechnicalUpdate.pdf   62 KB | 334 downloads
File Type: pdf DanskeDaily.pdf   259 KB | 304 downloads
Cut your Losers short and let your Winners run.
  • #16,271
  • Mar 19, 2013 4:31am Mar 19, 2013 4:31am
it look good on 1 hour and 4hours so am in .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 40 KB
Click to Enlarge Name: audusdh4.png Size: 36 KB
  • #16,272
  • Mar 19, 2013 4:46am Mar 19, 2013 4:46am
Hello there, Congrats for the unique thread. I'm certain which usually it may help many people avoid being bewildered.. Thanks for many that you just get for that discussion board and well being.
  • #16,273
  • Mar 19, 2013 4:59am Mar 19, 2013 4:59am
Quoting redfan
it look good on 1 hour and 4hours so am in .
thinking of jumping in for a quick scalp but one hour has just turned, maybe wait for the new 4 hour candle.
  • #16,274
  • Mar 19, 2013 5:42am Mar 19, 2013 5:42am
Quoting adamjhdavis
thinking of jumping in for a quick scalp but one hour has just turned, maybe wait for the new 4 hour candle.
Be patient. It is better to wait for another good entry, though I cannot find anything interesting for now. This AUD/USD bear move seems to be dying to me. Let's see.

Cheers,
M.
Remember I'm a newbie!
  • #16,275
  • Mar 19, 2013 6:38am Mar 19, 2013 6:38am
Maybe I should have waited untill the candle close, but this one looks (or I just want it to look) like it is not going to dig any deeper. Closed the trade at some point manually at BE. Inside pullback candle, TDI leveling out. Lack of bearish momentum.

AUD USD H4

http://img835.imageshack.us/img835/8...420131903e.jpg

Will have an eye on USD/CHF H4.


Cheers,
M.


EDIT:
By the way, has any of you tested putting SL just above previous candle (setup candle) (Synergy bar candle) high/low as SL? Any remarks?
Remember I'm a newbie!
  • #16,276
  • Mar 19, 2013 7:43am Mar 19, 2013 7:43am
i am looking 20 pips long on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 42 KB
  • #16,277
  • Mar 19, 2013 7:50am Mar 19, 2013 7:50am
Quoting redfan
i am looking 20 pips long on this one.
Not a good idea. PA in consolidation. Wait till it breaks 1.5150
  • #16,278
  • Mar 19, 2013 12:54pm Mar 19, 2013 12:54pm
Quoting Winner1245
Not a good idea. PA in consolidation. Wait till it breaks 1.5150
Anybody going for any potential trades on the next 4 hour window?
  • #16,279
  • Mar 19, 2013 12:55pm Mar 19, 2013 12:55pm
Anybody going for any potential trades on the next 4 hour window?

sorry pressed wrong button
  • #16,280
  • Mar 19, 2013 8:28pm Mar 19, 2013 8:28pm
Quoting adamjhdavis
Anybody going for any potential trades on the next 4 hour window?

sorry pressed wrong button
this comes very late...

but with all EURxxx pairs in the downflow
and GBPxxx pairs going sideway
take a look at EURGBP .... each pip is worth 1.5xtimes that of what you get for the same pip in EU and GU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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