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Mastering the Art of Trading

  • #61
  • Edited Aug 28, 2013 12:04am Aug 27, 2013 11:38pm | Edited Aug 28, 2013 12:04am
Get well soon Ghous.
Wasn't some funky Rasmalai, was it.

I believe MASALA CHAI is good for FP, with lots of cloves in it.
Always works for me but then again, I am a strange fish.
  • #62
  • Aug 28, 2013 1:59am Aug 28, 2013 1:59am
Thanks Ghous for the clear dexplanations!

Have you guys noticed this one?
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  • #63
  • Aug 28, 2013 2:32am Aug 28, 2013 2:32am
Interesting approach, only price action, big players .... Suscribed.
My first trade.

What about TP?
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  • #64
  • Edited 4:00am Aug 28, 2013 3:07am | Edited 4:00am
Quoting cfdtaleong
Thanks for the thread. Great to read something that specializes in sideways market. I just don't quite get the definition of a "trouble area". Is it an area of many dojis that kind of stuff?
The first trouble area is the first minor/major flip of support and resistance that a potential trade may find trouble at.

here's an example:

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The FTA is important information that helps a trader develop a logical trade plan that eradicates all ambiguity and lines the trader up to be warned and also take advantage of realistic expectations from the market.

Here are a few examples of designing the trade plan around your FTA:

1) Take full profit at FTA (if the FTA is extremely major such as with the GBP/NZD trade I shared)

2) Take partial profit at FTA

3) Move the stop i.e reduce exposure on the trade as price hits the FTA

4) Do nothing and simply watch like a hawk how price is reacting at the FTA (recommended only when the FTA is extremely minor)

What we always discuss about at the james16 group as well, is that there is absolutely no point in taking a full loss once price makes it to the FTA. So you see the FTA is by far the most important aspect of a trade in the initial stages, which needless to say is obviously the make or break times for the trade.

Part of a trade plan should always consist of clearly marking out the FTA and all subsequent trouble areas if you do plan to hold a trade beyond the FTA.

g.
I believe . . .
  • #65
  • Aug 28, 2013 3:11am Aug 28, 2013 3:11am
Quoting Fleischmann
Hey Ghous, what a great thread. But I was wondering where did I see your name and then I remembered that I saw your video on a blog (I’m not sure if I may post the link here, but I hope you know what I’m talking about). In that video you said that you wait for price to close above/below SP and then to strongly reject, that was the trigger. And if price doesn’t close above/below SP, but only leaves a small wick, you don’t take such trade. Which is completely opposite to the stuff in this thread. So I’m wondering why did you change your rules? Did...
On a blog? You mean my blog? I never posted any video on my blog. Also since I don't remember doing any such videos, I think you'll need to refer me to it. Maybe you could just PM me the link so I can have a look and get back to you?

g.
I believe . . .
  • #66
  • Aug 28, 2013 3:12am Aug 28, 2013 3:12am
Quoting focusonmoney
Ghous, let me get this correct.. We are entering right after the bar closes or wait until the bar close and enter at the low/high of the bar?
We are entering on the fake out bar close, when the close is in proximity to the HHR/LLS levels. Otherwise we wait with a pending order just above/below the HHR/LLS for price to pull back to the level.

Either ways just remember that your entries need to be very near the HHR/LLS levels.

g.
I believe . . .
  • #67
  • Aug 28, 2013 3:27am Aug 28, 2013 3:27am
Quoting antoniomago
Interesting approach, only price action, big players .... Suscribed. My first trade. What about TP? {image}

Looks like it already hit the FTA and bounced.
I would not hold on to this.
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  • #68
  • Aug 28, 2013 3:31am Aug 28, 2013 3:31am
Quoting Pinbar
Even though, I do not like the fact that price did not spend much time away from this area, before returning to it, the close of yesterdays bar interests me. Let's see what the rt of the HHR can do. {image} {image}
hey Steve,

Its always best for price to rapidly approach the HHR/LLS and get rejected off of it on the first attempt. Here for example a bounce just before the HHR is not a very strong sign for a fake out setup. First it shows a misalignment of bearish order flow. I mean if we're really playing the fake out game, what the hell were sellers doing just underneath the HHR to allow price to drop 4000 pips only to see fresh buying coming in?

Although the fake out bar here has ended up closing within the more recent minor newer HHR it still strips the setup of quality considerably IMO.

Some more food for thought on the chart:

As a prologue, why would true selling want to occur in chunks when price could have bought its way into the HHR and take on all the selling pressure?

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PS I hope this doesn't confuse the newbies too much. If it does, just simply ignore it. I am yet to get into explaining some of the major market dynamics around which I build my bigger story for the trades. You just saw an example above, and if it makes sense even a tiny bit you need to be patting yourself on the back or err.. get someone to do it for you!

g.
I believe . . .
  • #69
  • Aug 28, 2013 3:32am Aug 28, 2013 3:32am
Quoting cuchuflito
Thanks Ghous for the clear dexplanations! Have you guys noticed this one? {image}
I am sure he has not noticed it as, the SP is too small and price is just moving sideways.
  • #70
  • Aug 28, 2013 3:35am Aug 28, 2013 3:35am
Quoting PurePrice
Check out USDJPY on H4 and H1 .. nice long setup in the making around 96.90
Brilliant!

I want to be using this example to launch an idea about trading this method on the lower time frames that might just replicate the reliability you get with this method on the higher time frames. Again based on just pure common sense! However its still very much in the laboratory for me, with the potential to be a spin off method on its own designed particularly for the lower time frames.

g.
I believe . . .
  • #71
  • Aug 28, 2013 3:39am Aug 28, 2013 3:39am
Quoting ghous
{quote} hey Steve, Its always best for price to rapidly approach the HHR/LLS and get rejected off of it on the first attempt. Here for example a bounce just before the HHR is not a very strong sign for a fake out setup. First it shows a misalignment of bearish order flow. I mean if we're really playing the fake out game, what the hell were sellers doing just underneath the HHR to allow price to drop 4000 pips only to see fresh buying coming in? Although the fake out bar here has ended up closing within the more recent minor newer HHR it still strips...

Thanks Ghous

Yes, what you wrote makes sense in that, they do not yet look serious about dumping this, yet.

I will hold on to it till we get a close above, as a learning experience.

There are probably a lot of people looking at this divergence.
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  • #72
  • Aug 28, 2013 3:42am Aug 28, 2013 3:42am
Great thread.. subbed!
  • #73
  • Aug 28, 2013 3:45am Aug 28, 2013 3:45am
Quoting realclick
Hello Master Ghous , since we are mastering the art of trading, I hope you wouldn't mind me calling you Master. This is the first thread I have ever subscribed to or commented here on FF, because it is not only the most profitable way to trade but actually the coolest trying to follow the big banks or london killer whales. I have been privy to forex trading for more than two years now, blew a few demo account gambling not actually trading and finally took the decision to do the hard work required to be a successful trader, I looked at many systems...
Hey Real Click,

This made me smile

The day you realize you can't measure your learning with a stop watch you're leaps ahead of the myriad number of people still obsessed with the illusion that consistency is a function of secret formula as opposed to thousands of hours of chart time and loads of practice and trial and error - to which there exist no substitutes

Posting a chart is really very simple.

Right click on your mt4 chart and click "save as picture". Save it to your desktop. On the relevant post where you wish to attach the chart look under the text window and you should see this:

Attached Image


Click on "upload from computer" and just select the file from your desktop and click "open". You can then just hit "post new reply" to have the attachment/chart sitting at the bottom of your post. If you want it somewhere in the middle of your post then simply bring the typing cursor to where you want it and hit "insert" from the window below:

Attached Image


That's really it.

And your English rocks!

g.
I believe . . .
  • #74
  • Aug 28, 2013 3:47am Aug 28, 2013 3:47am
Quoting cesar8
Hello Ghous. Congratulations on this new thread. For all will be of great help to have it in front, as moderator. Success. I wanted to know your opinion of this pair. Price back and breaks the TL, up to the first bracket. Sere very ambitious if I run the price expected to continue tumbling, or should close the operation? {image}
umm...You think you took a fake out trade or you're simply referring to a pin bar trade? Its important for me to know before I can proceed with my analysis on this trade.

g.
I believe . . .
  • #75
  • Aug 28, 2013 3:49am Aug 28, 2013 3:49am
Quoting Pinbar
Get well soon Ghous. Wasn't some funky Rasmalai, was it. I believe MASALA CHAI is good for FP, with lots of cloves in it. Always works for me but then again, I am a strange fish.
lol

no. We get this every year post rainy season. The water lines get mixed up with..well..forget it. Some of the perks of being in a developing country .

Anyways, I am on antibiotics and feeling a little bit better.



g.
I believe . . .
  • #76
  • Aug 28, 2013 3:51am Aug 28, 2013 3:51am
Quoting cuchuflito
Thanks Ghous for the clear dexplanations! Have you guys noticed this one? {image}
I am looking at it now. What do you want me to see?

g.
I believe . . .
  • #77
  • Aug 28, 2013 3:55am Aug 28, 2013 3:55am
Quoting antoniomago
Interesting approach, only price action, big players .... Suscribed. My first trade. What about TP? {image}
I have a simple question for you.

What do you think is the single most striking difference between setup A and setup B?

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Don't stress yourself too much. It has to come to you straight away. If it doesn't you let me know.

g.
I believe . . .
  • #78
  • Aug 28, 2013 3:56am Aug 28, 2013 3:56am
Quoting ghous
{quote} hey Steve, Its always best for price to rapidly approach the HHR/LLS and get rejected off of it on the first attempt. Here for example a bounce just before the HHR is not a very strong sign for a fake out setup. First it shows a misalignment of bearish order flow. I mean if we're really playing the fake out game, what the hell were sellers doing just underneath the HHR to allow price to drop 4000 pips only to see fresh buying coming in? Although the fake out bar here has ended up closing within the more recent minor newer HHR it still strips...

Making out the sense is the easier part. The harder one is figuring it out on your own in real time. That's what the chart time is needed for - to train your brain thinking in these schemes.
  • #79
  • Aug 28, 2013 3:56am Aug 28, 2013 3:56am
Quoting Takisd
Great thread.. subbed!
That coming from you is a big for me. Thanks a tonne Takisd

g.
I believe . . .
  • #80
  • Aug 28, 2013 4:06am Aug 28, 2013 4:06am
Quoting Barbossa
{quote} Making out the sense is the easier part. The harder one is figuring it out on your own in real time. That's what the chart time is needed for - to train your brain thinking in these schemes.
Very true. I hope to do my part in helping people see the bigger picture. I think its the holy grail. Seriously. Such a huge advantage regardless of the method you personally use.

g.
I believe . . .
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