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  • #1,421
  • May 28, 2013 8:11am May 28, 2013 8:11am
This is the latest half-a-batman that I can find. GU a couple of weeks ago. But would you trade it? Wouldn't you also consider the possibility of a second leg or even a reset?
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  • #1,422
  • Edited 10:31am May 28, 2013 9:14am | Edited 10:31am
See what I meant by dealers keep resetting? USD/CHF, USD/JPY, and virtually all other JPY pairs have gotten 2-3 pushes, forming a nice M, and are supposed to go down, but the news seem to extend all of them. Had I traded any of them, and I would if I still have the money that is, I would've lost all trades. On the other hand, if I put in the opposite order, against SM entry teaching, you'll get 100% profitable trades for all of them.

AUD/USD seems to be good for a short. Nice M after 3 pushes.

Moloy, what you got today?

* Now that the event has unfolded, prices seem to go to the original prediction. Nevertheless my stops would've been hit. So there goes my dilemma. You can still lose even if you're right.
  • #1,423
  • Edited 9:39pm May 28, 2013 12:53pm | Edited 9:39pm
Quoting Duffgen
Sorry DJM, your half a batman is nothing like what it ought to be. You need a strong move in one direction, followed by a quick retrace to a level of consolidation. Then look out for an entry in the opposite direction to the original move. Maybe this screenshot will help somebody. You will NOT see this pattern every week. {image}

Look man DG, On 27.05.13 it was a bank holiday for GBP and USD and the time i entered the trade was the 2nd half of the NY session so taking these facts under consideration you cannot expect a perfect A+ half a bat man that you are showing, for me the price action was convincing enough to go short and one other thing i have watched all the courses from chris capre(though i don't follow his strategy) but i follow one article of him very much.
here is the link --> http://2ndskiesforex.com/strategies-...ashion-contest

Trading is not a fashion contest man.

For me as The Boss vic noble says" FX is like a sea where 2 tides(trades) will never be the same"
$$ Buy @ Lod & Sell @ Hod $$
  • #1,424
  • Edited May 29, 2013 3:54am May 28, 2013 12:54pm | Edited May 29, 2013 3:54am
Quoting Ishtana
See what I meant by dealers keep resetting? USD/CHF, USD/JPY, and virtually all other JPY pairs have gotten 2-3 pushes, forming a nice M, and are supposed to go down, but the news seem to extend all of them. Had I traded any of them, and I would if I still have the money that is, I would've lost all trades. On the other hand, if I put in the opposite order, against SM entry teaching, you'll get 100% profitable trades for all of them. AUD/USD seems to be good for a short. Nice M after 3 pushes. Moloy, what you got today? * Now that the event has...

My today's trade... some of you got tricked on the second push thinking as it is a 3rd push. While i was looking at my 2nd push i was not looking to sell because the adr was not reached, it was <100% . I don't take that trade untill it is more then 100% and 125% or more is very comfortable.It is the same sh!t as i took on 23rd may.If you scored a loss on first trade then you don't you go for the 2nd trade,price can't go up for ever,you have to take 2nd chances.Hactor has a video where he talks about second chances for almost an hour.
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$$ Buy @ Lod & Sell @ Hod $$
  • #1,425
  • May 28, 2013 1:20pm May 28, 2013 1:20pm
Tp hit guys
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$$ Buy @ Lod & Sell @ Hod $$
  • #1,426
  • May 29, 2013 12:45pm May 29, 2013 12:45pm
Live W trade on UJ..........
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$$ Buy @ Lod & Sell @ Hod $$
  • #1,427
  • May 29, 2013 7:45pm May 29, 2013 7:45pm
Quoting djmoloy71
Live W trade on UJ.......... {image}
How'd this go DJ? I took that same in demo of course in a little late at 100.025 never hit TP order, and then all expired and ate it, but its demo. In hindsight I don't really like this trade as its against the PFH on this chart. If this PFH is to hold I think a nice SH High should be expected in London next. Thoughts?

the short was also warranted as we were near potential mid week reversal so the strong push down away from the peak should also be indicating possible continued downward runs into Friday.
  • #1,428
  • May 30, 2013 2:55am May 30, 2013 2:55am
Quoting FX-Trader
{quote} How'd this go DJ? I took that same in demo of course in a little late at 100.025 never hit TP order, and then all expired and ate it, but its demo. In hindsight I don't really like this trade as its against the PFH on this chart. If this PFH is to hold I think a nice SH High should be expected in London next. Thoughts? the short was also warranted as we were near potential mid week reversal so the strong push down away from the peak should also be indicating possible continued downward runs into Friday.

I was using a 25 pips trailing stop so price went up 36 and 30 for me and hit my sl at +11 and +05. a scratch trade.I like this trade because my job is to catch the HOD and the LOD (If a get a signal). Yes the price is moving in our direction.
$$ Buy @ Lod & Sell @ Hod $$
  • #1,429
  • May 30, 2013 3:06am May 30, 2013 3:06am
A nice M Trade setup on UJ today....
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$$ Buy @ Lod & Sell @ Hod $$
  • #1,430
  • May 30, 2013 4:50am May 30, 2013 4:50am
There you go, the levels are extended again in EU & GU. Perfect M. Brink Trades even. But ended up badly. This is so frustrating.
  • #1,431
  • Edited 10:50am May 30, 2013 10:18am | Edited 10:50am
Quoting mmaker
{quote}There's no "Perfect M" except after-the-fact double-top formation. Please show a picture. Did you lose on a live account? If this method has never worked for you on Demo, why keep trading the live account and lose real money?? If you keep doing something that didn't work, no matter how hard you keep trying, you will still get the same results. How else would you expect a DIFFERENT result if you did the same thing as before? {quote}
Pictures attached. EU and GU, same story.

I did demo and I did live account. I've lost a lot of real money already. The trouble with me is, I don't want to give up. Looking at people here, I know this method works. I just haven't found the missing link that these guys seem to have.

I'm doing different things everyday. I keep learning with every new tick on the chart.
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  • #1,432
  • May 30, 2013 10:44am May 30, 2013 10:44am
Quoting mmaker
Those are not "perfect M" patterns. They are not even M patterns that you can short. Have you heard Steve talk about 3 swipes to the High, or 3 pushes to the High, or 3 something to the High? From your Asian Box to where you drew the M pattern, there were no "3 swipes" or "3 pushes" after the Asian Box end (1amET). It is just regular zig zag that can happen anywhere on the chart. Both the red candles you entered were at 4:30-4:45amET, while Brinks Trade is at 3:45amET or 45mins after London Open (3:00amET). I warned people that Steve's method...
I've been following that, but doing my homework, I found the swipes, or 3 spikes to the direction of the hunt, is very rare. I mostly found M&W + vector candles. You mentioned 3 swipes/3 pushes. They are not the same are they? 3 pushes are the vector candles, and 3 swipes are the retest candles.

And shouldn't brink trade happen prior to London Opening? Isn't it the gap time? When London has opened there is no more gap. It's already on.
  • #1,433
  • May 30, 2013 11:57am May 30, 2013 11:57am
Quoting Ishtana
{quote} Pictures attached. EU and GU, same story. I did demo and I did live account. I've lost a lot of real money already. The trouble with me is, I don't want to give up. Looking at people here, I know this method works. I just haven't found the missing link that these guys seem to have. I'm doing different things everyday. I keep learning with every new tick on the chart. {image} {image}

" I know this method works " woow thats nice to here from you!!! i hope this will help you to solve the GU problem.
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$$ Buy @ Lod & Sell @ Hod $$
  • #1,434
  • May 30, 2013 12:22pm May 30, 2013 12:22pm
Thanks M and Moloy.

Well, it's tough not being smart. Every day, I dedicate at least 3 hours on and off doing my homework and demoing. With my trades sometimes I get it right, sometimes I get it wrong. If I got mostly wrong, then I would've given up. It's 1:12 am my time, I'm still following the price chart and studying.

I love trading. I love the market. I love the joy of being disciplined to my trading plan, be it a winning or a losing trade. I find it satisfying to follow my system to the letter.

I thought I have SM teaching on my subconscious by now. Guess I was wrong.

My trouble with PF is identifying it. In the pic above, I can see that the PFL has formed, but I also noticed 3 level of pushes before Asian range today. So I was expecting a stop hunt high drop to at least the mayo. But I was wrong. Well, if I can stomach the DD, I was right.

And another trouble is that PF is often get violated. A massive M or W or H&S on 1H chart often get reviolated.

Yes Moloy I know this method works, you are one of the few living testimony.
  • #1,435
  • May 30, 2013 3:26pm May 30, 2013 3:26pm
Ish step back to your 1hr weekly and see if you can identify the cycle

Sunday into Monday - Consolidation, false move out of the box, Stop hunt reverse and trend run the other way for 2 to 3 days then reverse back in to the range by Friday.

If you looked at the chart this way your E/U and G/U trades would have suggested only take stop hunt low's as DJ illustrated in the chart above cord of wood/pins at the 200/mayo.

Focus on one point and keep it in sights don't change your bias midstream. Again look at sunday onwards.... most people don't trade this method Sun and Mon because they want to see how the week opens as well as how did it close friday. I did some research on both pairs a few weeks back and the daily pattern we seek is there on the 1hr if you look at it for a Sun to Fri view. Also pay attention to TDI on the 1 hr it tends to go from oversold to oversold zones look at it in whole.
  • #1,436
  • Edited 10:18pm May 30, 2013 9:36pm | Edited 10:18pm
Yes FX-Trader, I've followed your suggestion since the first time you told me to and I thank you for your help. I only look at 1H chart until I can see a clear setup before zooming in into the 15M chart. But identifying PFs is by no means an easy task.

I guess, it's not that I don't understand SM teaching. Throughout these months, I found his pattern to be rare, and when it does happen, it doesn't always work out. So now I've filtered the system and only use things that is apparent on the chart. It's my effort not to give up. Because I've given up on SM exclusive teaching.

Maybe you guys should put your losing trades here too. I'm the only one who put my losing trades here hoping everyone can learn from it. This is not directed at anyone, but putting 5 winning trades while hiding 10 losing trades is not doing anyone a favor. The winning traders wouldn't believe it. The losing traders would have a false confidence.
  • #1,437
  • May 30, 2013 10:28pm May 30, 2013 10:28pm
FX-Trader, or anyone else, can you please verify my PF identifying? This is EU for the whole month. I appreciate any help.
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  • #1,438
  • May 30, 2013 10:54pm May 30, 2013 10:54pm
Quoting Ishtana
FX-Trader, or anyone else, can you please verify my PF identifying? This is EU for the whole month. I appreciate any help. {image}
It would appear you are focusing too much on a concrete 123 peak 123 peak, when in reality identify your trend runs and mark each end as a peak, the. Work backwards and fill in the consolidation and false move spots. The answer is right here in front of you. Almost all your PF failures are right in the middle of a 3 day trend move, also know as the levels. Do you see that?
  • #1,439
  • May 30, 2013 11:04pm May 30, 2013 11:04pm
Quoting FX-Trader
{quote} It would appear you are focusing too much on a concrete 123 peak 123 peak, when in reality identify your trend runs and mark each end as a peak, the. Work backwards and fill in the consolidation and false move spots. The answer is right here in front of you. Almost all your PF failures are right in the middle of a 3 day trend move, also know as the levels. Do you see that?
Thank you. But which did I get it right and wrong?

Trouble is SM doesn't really talk about PF recognition. He only says "There's PF, Safety trade is next."

My PF leans more toward candlestick pattern. Variations of M&W & H&S.

How would you mark the chart yourself?
  • #1,440
  • May 30, 2013 11:43pm May 30, 2013 11:43pm
Quoting Ishtana
{quote} How would you mark the chart yourself?
I've been marking them a week at a time instead of all together flowing 1 to the next.
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