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  • #5,381
  • May 8, 2013 11:57pm May 8, 2013 11:57pm
Quoting msetai
{quote} interesting, i have much to learn...

Feel free to ask and, I will reply if I am able to.
  • #5,382
  • May 8, 2013 11:59pm May 8, 2013 11:59pm
Quoting Pinbar
{quote} Feel free to ask and, I will reply if I am able to.
thanks
  • #5,383
  • May 9, 2013 6:41am May 9, 2013 6:41am
hey guys, iam not quite shure if it has been discussed already in this thread, but can anyone explain to me where tom places his stoploss when he is trading a sfp?
  • #5,384
  • May 9, 2013 7:35am May 9, 2013 7:35am
Quoting daveone
hey guys, iam not quite shure if it has been discussed already in this thread, but can anyone explain to me where tom places his stoploss when he is trading a sfp?
H1 24 period ATR past high / low of SFP entry bar
  • #5,385
  • May 9, 2013 12:48pm May 9, 2013 12:48pm
Possible SFP forming in USD/CHF.
  • #5,386
  • May 9, 2013 3:00pm May 9, 2013 3:00pm
Hi,

Pinbar I think you're right in that the terminology has maybe caused this confusion. I got the SFP wrong at the start too until somebody pointed out my mistake.

I'm snowed under with stuff at the moment so I'll have to make it brief.

The RR of a level is a touch trade at that level, we don't wait for a price action signal like an SFP candle.

In a RR trade you're looking for the level to flip from S to R or R to S, in a SFP trade you're looking for R to remain R and S to remain S but we wait for the H1 candle to close first as an SFP before entering, a price action signal.

You can trade the flip of 1 major swing but this method requires 3 or more to effectively realise the high probability stats. Lets keep the thread focused on what Tom does as we can easily get distracted and go off course.

Hope I haven't confused you more.
  • #5,387
  • May 9, 2013 3:04pm May 9, 2013 3:04pm
Anyone take the Aussie trade?, nasty little push up there before the drop.
  • #5,388
  • May 9, 2013 4:14pm May 9, 2013 4:14pm
Quoting Quidsey
Hi, Pinbar I think you're right in that the terminology has maybe caused this confusion. I got the SFP wrong at the start too until somebody pointed out my mistake. I'm snowed under with stuff at the moment so I'll have to make it brief. The RR of a level is a touch trade at that level, we don't wait for a price action signal like an SFP candle. In a RR trade you're looking for the level to flip from S to R or R to S, in a SFP trade you're looking for R to remain R and S to remain S but we wait for the H1 candle to close first as an SFP before entering,...

Appreciate the time taken to explain this which, once more clears everything else, I was not sure about up.
Attached Image(s) (click to enlarge)
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  • #5,389
  • May 9, 2013 4:15pm May 9, 2013 4:15pm
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
Quoting Quidsey
Anyone take the Aussie trade?, nasty little push up there before the drop.
I took it but exited with 2R profit before that afternoon move down. I didn't want to risk at that level. Now we have another great level to sell, wait and see.
  • #5,390
  • May 9, 2013 4:47pm May 9, 2013 4:47pm
Demoing this EU SFP after the Daily bar closed above the level, using the H4 candle close for the entry.
Attached Image (click to enlarge)
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  • #5,391
  • May 9, 2013 5:22pm May 9, 2013 5:22pm
Quoting Pinbar
Demoing this EU SFP after the Daily bar closed above the level, using the H4 candle close for the entry. {image}
and you are using 1.29905 as sl and something like 3080 as tp or keeping it open?
  • #5,392
  • May 9, 2013 11:55pm May 9, 2013 11:55pm
Quoting msetai
{quote} and you are using 1.29905 as sl and something like 3080 as tp or keeping it open?
The H4 close below this level should have taken me out but, I was not home to close it out.
I just closed it for BE+ spread

I did not like the sluggish movement at the FTA.
I want to see them take off quickly.

See chart
Attached Image (click to enlarge)
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  • #5,393
  • May 10, 2013 1:33am May 10, 2013 1:33am
Quoting Pinbar
{quote} Appreciate the time taken to explain this which, once more clears everything else, I was not sure about up. {image} {image}
Yes you can wait for a candle to close below the RR level but you risk getting in at a worse price. Sometimes they close way down. All this info will come out of your trading journal though and that takes time to build up to a significant amount that you can draw any conclusions from.

The same is true of the SFP which is an hourly or daily signal, tried and tested over time to produce stats which give us an edge. If you start using 4hr candles then you're really testing a new theory and you may find the results it gives disappointing.

Anyway great to see you guys trying this stuff out, Tom's an old J'16er too.
  • #5,394
  • May 10, 2013 1:39am May 10, 2013 1:39am
Quoting Hummar
{quote} I took it but exited with 2R profit before that afternoon move down. I didn't want to risk at that level. Now we have another great level to sell, wait and see.
Nice one.

Yes big daily level, I got a small position on that I'm going to try and hold.
  • #5,395
  • May 10, 2013 2:20am May 10, 2013 2:20am
Quoting Quidsey
{quote} Yes you can wait for a candle to close below the RR level but you risk getting in at a worse price. Sometimes they close way down. All this info will come out of your trading journal though and that takes time to build up to a significant amount that you can draw any conclusions from. The same is true of the SFP which is an hourly or daily signal, tried and tested over time to produce stats which give us an edge. If you start using 4hr candles then you're really testing a new theory and you may find the results it gives disappointing. Anyway...
Yes, I am trying to get the feel for it and was looking at H4 just out of coincidence.

Totally agree it needs to be demoed comprehensibly to get a feel for it.
Any particular reason it does not work on H4, or perhaps it is just that the entry may become later?
  • #5,396
  • May 10, 2013 2:20am May 10, 2013 2:20am
Quoting Quidsey
Anyone take the Aussie trade?, nasty little push up there before the drop.
Hi Quidsey

I took that trade, your right there was a nasty squeeze, my initial SL was 1.0258 (above the previous high) so I "just" survived. I exited at 1.0179, previous consolidation level, but just before price really tanked (could have make 4Rs but I'm happy to settle for the 1.08 R) .
  • #5,397
  • Edited 3:03am May 10, 2013 2:34am | Edited 3:03am
Anyone know if the B SP is valid or not as, the A swing Point is still untested?
Thinking of giving the hourly a shot, mainly because of the space.
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  • #5,398
  • May 10, 2013 2:44am May 10, 2013 2:44am
A possible buying opportunity @ 130.35
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  • #5,399
  • May 10, 2013 2:50am May 10, 2013 2:50am
Quoting Pinbar
Anyone know if the B SP is valid or not as, the A swing Point is still untested? Thinking of giving the hourly a shot, mainly because of the space. {image} {image}
Hi Pinbar, I'm still working out the SFP for myself, but my immediate thoughts are the swing between A & B on your chart looks quite a minor one, my testing thus far has shown that when there are 2 levels so close like this, the higher probability set ups occur when both levels are taken out by the sfp. But you may well find a good entry on the lower tf.

cheers Rich
  • #5,400
  • May 10, 2013 3:03am May 10, 2013 3:03am
EDIT: Damn hourly close ate up half the space, will wait for a RT to see if I can get in at a better price.

Not sure if this is cool with this system or not.
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