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Attachments: Frog's method
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Frog's method

  • #21
  • Quote
  • May 1, 2013 8:54am May 1, 2013 8:54am
Do you use a SL Zeb?
  • #22
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  • May 1, 2013 11:16am May 1, 2013 11:16am
The above happen to be a typical fake break up, better to wait for a pull back to 128.4 and monitor the market reaction there.
  • #23
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  • May 1, 2013 5:49pm May 1, 2013 5:49pm
@ joebanana : Yes i use a stop loss of course. i use a large stop loss.
Maybe it is due to my experience, but with forex market, you will see that tight SL are often reached.
I considerer my actual position is valid untill the price goes opposite at the half between next support and resistance = 127.62
  • #24
  • Quote
  • May 1, 2013 5:57pm May 1, 2013 5:57pm
Quoting Pipkeep
The above happen to be a typical fake break up, better to wait for a pull back to 128.4 and monitor the market reaction there.
I don't agree with you : often the price will test again the resistance line. Here it is 128; I will not be amazed if the price test 128 again.
That is why my SL is under this level. Because the price could oscillate again around the 128 level. So my SL is under that level at 127.62
  • #25
  • Quote
  • May 1, 2013 6:08pm May 1, 2013 6:08pm
Il est surprenant de constater que le prix est attiré par les supports et résistances comme un aimant. Mais une fois atteind, le prix est comme libéré de sa charge et peut ensuite être attiré vers d'autres niveaux.

It is surprising to see that price is attracted by the supports and resistances as a magnet. But when it is reached, the price is free from his weight and can be attracted by new levels.
  • #26
  • Quote
  • May 2, 2013 1:19am May 2, 2013 1:19am
Quoting zebulon
{quote} I don't agree with you : often the price will test again the resistance line. Here it is 128; I will not be amazed if the price test 128 again. That is why my SL is under this level. Because the price could oscillate again around the 128 level. So my SL is under that level at 127.62
Very well, but if placing SL under 128 and TP at 129.3 this set up represent 3:1 RR i.e Risk 3 to gain 1......mmm....and if the odds are for price to test gain 128, well the trade is way too risky.
  • #27
  • Quote
  • May 2, 2013 7:42am May 2, 2013 7:42am
Quoting Pipkeep
{quote} Very well, but if placing SL under 128 and TP at 129.3 this set up represent 3:1 RR i.e Risk 3 to gain 1......mmm....and if the odds are for price to test gain 128, well the trade is way too risky.
3:1 RR is not a problem for me if i win 9 trades on 10
  • #28
  • Quote
  • May 2, 2013 8:47am May 2, 2013 8:47am
I agree, R:R is not a scared cow. the other side of the equation is odds/probabilities. but it just that playing breakouts, more often than not tend to fail.
  • #29
  • Quote
  • May 2, 2013 9:28am May 2, 2013 9:28am
Test en direct de la méthode, +42 pips à l'aller et + 42 pips au retour !

testing live the method, +42 pips on the way up and + 42 pips on the way down !
Attached Image (click to enlarge)
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  • #30
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  • May 2, 2013 2:17pm May 2, 2013 2:17pm
Hi Zebulon
Are the blue lines pivot lines or S&R?
  • #31
  • Quote
  • May 3, 2013 1:51am May 3, 2013 1:51am
Quoting CowLee
Hi Zebulon Are the blue lines pivot lines or S&R?
The blue lines are S&R
  • #32
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  • Last Post: May 5, 2013 1:27pm May 5, 2013 1:27pm
Zebulon,

I have to raise a glass to you. This is all that trading is! Simple support and resistance. Either a price level breaks or price is rejected.

A lot of people understand that but just don't have a simple method to trade it! I hope they gain that from your post.

Please keep them coming.

NineKaye
NineKaye
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