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Mastering the Art of Trading

  • #181
  • Aug 30, 2013 10:21am Aug 30, 2013 10:21am
Quoting str8
Here is a setup from silver I liked a lot but I wanted to trade with a sell limit order and the trade wasn't triggered. I think this was better than the gold setup. Ghous what do you think about correlation? I sometimes use correlation to decide if I enter a trade or not. For instance if I see a fake out on silver I usually prefer to see a fake out on gold and I think this gives strength to the trade. And I see many times they go in the same direction. A few days ago I posted a setup in Pinbar's thread about EUR NZD and you said you prefer GBP NZD...
Hey Str8, had a pending order on Silver at 24.80, but price never made it.. it has already reached FTA.

Oh well..next time
Trade Smart
  • #182
  • Aug 30, 2013 10:25am Aug 30, 2013 10:25am
Quoting loog12us
this one is also approaching near , would like to see some action in the circled area? {image}
Similar problem again, in that a fake out off that LLS would have been heading straight into a lot of traffic.

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Sometimes these work and price will push through brick walls like a hot knife through butter, but mostly they don't. Point is, that the times they don't, you just can't complain because it isn't "erratic" behavior and you weren't ( or shouldn't be) caught by surprise.

I for one don't see any merit in taking a hit because the market did something that it already should have, except that you were hoping for something else.

The markets don't care what you think or want.

g.
I believe . . .
  • #183
  • Edited 2:53pm Aug 30, 2013 2:39pm | Edited 2:53pm
The support lines.
Ha ha! The trade will start when the market close. (According to my broker's time)
Hope You Enjoy the next week!
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Price Is The Best Indicator Itself.
  • #184
  • Aug 31, 2013 12:24am Aug 31, 2013 12:24am
Hey Ghous

Great thread my friend.

Love the simple charts, and the simple idea of your entries.

Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #185
  • Aug 31, 2013 12:57am Aug 31, 2013 12:57am
Quoting asim.iqbal
The support lines. Ha ha! The trade will start when the market close. (According to my broker's time) Hope You Enjoy the next week! {image}

I just post my two cent reviw on this set up. Seniors may reply actual situation. I am just trying to grab this method.
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80% effort, 20% luck
  • #186
  • Aug 31, 2013 1:14am Aug 31, 2013 1:14am
Quoting ghous
{quote} For one there is something very wrong about shorting straight into a RN like 1.700 This is so because round numbers tend to be order flow magnets. Round numbers is the currency for all the big games in the market. Options trading for instance revolves majorly around round numbers. If you're looking to short near a round number make sure its at least a few pips below it and for longs a few pips above it. Anyways, for this particular trade the 1.7 and the swing low at it, marks your really critical first trouble area and price is just about...
Thank You very much for explanation,

I got the point of breathing space and round numbers. I add my charts to a Grid which shows me the RNs (x.x000 only) I have one question for the moment.
Any way trade was taken out at BE.

This is a very interesting method to me. Only con is set ups are rare but you will be need only 3 or 4 set ups in daily chart to make whole month.

Kos
80% effort, 20% luck
  • #187
  • Aug 31, 2013 5:49am Aug 31, 2013 5:49am
This is a very interesting method to me. Only con is set ups are rare but you will be need only 3 or 4 set ups in daily chart to make whole month. Kos[/quote]

Talking about System, Set-ups (opportunities)..etc.

Is anybody making Money with this?

How about we compare results as to:
R : positive or negative.
Amount of trades a week/month.
Percentage winners...etc.

Like that we can find out if it´s worth the effort of even reading the posts,we can see how many people are successfull (and how much)..
We can talk in terms of R...so nobody needs to disclose how much Money they have...or Show their accounts.

R as defined by the Initial risk per trade.
Eg.
I risk exacly 1% per trade, as per stop value (Oanda, no lots).
So far 2 trades this week.
1 winner, one looser.
R positive : 0,16
Obviously it´s a useless sample, after ten, better 30, and better 100 trades I will be able to draw usefull conclusions.

Comparing each others results would help us all to improve, and learn from the best perfrormers..

My 2 Cents worth..
enjoy life
  • #188
  • Aug 31, 2013 5:53am Aug 31, 2013 5:53am
Quoting asim.iqbal
The support lines. Ha ha! The trade will start when the market close. (According to my broker's time) Hope You Enjoy the next week! {image}

Just my two cents, do we also incorporate fundamentals in this systems or its 100% technical, right now with US probably going to Bomb Syria any time soon( matter of days) a tendency to strengthen USD as a safe haven ,do you ignore that which is likely to determine how price may move within the short term.
10 pips a day keeps poverty away
  • #189
  • Aug 31, 2013 1:57pm Aug 31, 2013 1:57pm
Quoting ghous
{quote} 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.
http://www.screencast.com/users/Ghou...8-d4392f58473a

I came across this several months ago, and I also thought that this is u speaking
  • #190
  • Edited 3:19pm Aug 31, 2013 2:39pm | Edited 3:19pm
Quoting realclick
{quote} Just my two cents, do we also incorporate fundamentals in this systems or its 100% technical, right now with US probably going to Bomb Syria any time soon( matter of days) a tendency to strengthen USD as a safe haven ,do you ignore that which is likely to determine how price may move within the short term.
Hello! Realclick and Kos-Fx,
Its nice to hear from you about the setup. It is sure we are here for technicals. You say "The US probably going to Bomb", but not sure 100%.
Look! According to Price Action the last bar was an inside bullish bar before closing the market (The 1st point to be note). The price is touching its support there and closed above 1.3200 (The 2nd point to be note).

I am posting here another chart with another brokerage firm (With my trade taken Short). The FTA was not so far at that time. It depends on you how you understand. Here in this chart you can see a visible pinbar below.
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Price Is The Best Indicator Itself.
  • #191
  • Aug 31, 2013 4:27pm Aug 31, 2013 4:27pm
Hi guys and Ghous.

First off I'd like to say you've done a great job on your explanation at the start of this thread Ghous it's obvious you've put a lot of time into that, thanks.

As you may or may not know I'm a student of the "Fail better" thread where we use this type of strategy on the H1, the wizard whose thread it is was also a student of J16.

I don't want to clog up your thread with old charts as everybody will now want to be looking forward and looking for new opportunities in the markets and posting current price charts which is completely normal, but I have six D1 charts of the EURUSD that I'd be happy if you and other members could have a look at and give me your opinion on.

The six trades are all from this year.

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  • #192
  • Aug 31, 2013 4:29pm Aug 31, 2013 4:29pm
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  • #193
  • Aug 31, 2013 4:30pm Aug 31, 2013 4:30pm
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  • #194
  • Aug 31, 2013 6:49pm Aug 31, 2013 6:49pm
EU 4H & Daily
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  • #195
  • Edited 10:18pm Aug 31, 2013 10:05pm | Edited 10:18pm
Quoting asim.iqbal
{quote} Hello! Realclick and Kos-Fx, Its nice to hear from you about the setup. It is sure we are here for technicals. You say "The US probably going to Bomb", but not sure 100%. Look! According to Price Action the last bar was an inside bullish bar before closing the market (The 1st point to be note). The price is touching its support there and closed above 1.3200 (The 2nd point to be note). I am posting here another chart with another brokerage firm (With my trade taken Short). The FTA was not so far at that time. It depends on you how you understand....

Dear Iqbal,

It seems to be your entry was little bit aggressive.. If my thinking is correct you didn't wait that fake out bar to be closed. and even there are several pull back from FTA to HHR. How you determine your SL (Did you reduced it from intial value??????).

Even this example also shows that FTA and breathing space is to be considered (for high probability trade) when you enter a trade...

"Sometimes these work and price will push through brick walls like a hot knife through butter, but mostly they don't. Point is, that the times they don't, you just can't complain because it isn't "erratic" behavior and you weren't ( or shouldn't be) caught by surprise." - Ghous

Thanks
Kos
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80% effort, 20% luck
  • #196
  • Sep 1, 2013 1:33am Sep 1, 2013 1:33am
Quoting asim.iqbal
The support lines. Ha ha! The trade will start when the market close. (According to my broker's time) Hope You Enjoy the next week! {image}
I would be on the lookout of a further confirmation when the markets open. But overall I like this setup.

g.
I believe . . .
  • #197
  • Edited 2:08am Sep 1, 2013 1:41am | Edited 2:08am
Quoting KOS-fx
{quote} Thank You very much for explanation, I got the point of breathing space and round numbers. I add my charts to a Grid which shows me the RNs (x.x000 only) I have one question for the moment. Any way trade was taken out at BE. This is a very interesting method to me. Only con is set ups are rare but you will be need only 3 or 4 set ups in daily chart to make whole month. Kos
Well its not really a con, I could go on and on with the the perks of making money with just 3-4 trades a month, but for people who like the excitement of more trades then that, the lower time frames aren't ruled out for this method. Heck fake outs work on the 1 minute and the monthly. Remember that we haven't combined some flashy indicators that are all pointing up for a potential entry signal. The back bone of this method goes straight down to the anatomy of the markets and price action. Lower time frames can be tricky and much more advanced but for the trader who likes it, and more importantly has come to understand, over time, that the fast paced action is what brings out the best in him there are absolutely no leashes stopping him from venturing down the time frame ladder.

g.
I believe . . .
  • #198
  • Edited 2:09am Sep 1, 2013 1:57am | Edited 2:09am
Quoting realclick
{quote} Just my two cents, do we also incorporate fundamentals in this systems or its 100% technical, right now with US probably going to Bomb Syria any time soon( matter of days) a tendency to strengthen USD as a safe haven ,do you ignore that which is likely to determine how price may move within the short term.
I think she has already decided to. Either ways fundamentals don't play a part for me. Price has a way of factoring in the fundamentals, at least on the more general front. So if the USD must weaken, the technicals will conform to it. For instance if the Euro shoots off on Monday, I am happy because being a technical trader I see a fake out setup working out and the guys who follow fundamentals think price shot off because the USD is weakening as the US military decides to wage yet another war. Perhaps in some other part of the world, someone's jumping around because he got a perfect MACD+RSI+EGIJKIE crossover that got him a killer 10R trade.

The technical vs the fundamental debate is as long as the markets themselves. My personal view is, that the markets offer scope for either extremes and many other approaches that lye in between, provided that the edge is proven and is consistently executable.

I for one occupy the technical extreme of the spectrum and don't find myself handicapped.

g.
I believe . . .
  • #199
  • Sep 1, 2013 2:02am Sep 1, 2013 2:02am
Quoting giggles
{quote} http://www.screencast.com/users/Ghou...8-d4392f58473a I came across this several months ago, and I also thought that this is u speaking
I see.

yes this was back when I was using the HCR/LCS levels for my main trigger as opposed to the HHR/LLS. These were early days in my research with the concept.

I think I'll have to delete this video so it doesn't confuse anyone.

Thanks a lot for putting this up.

g.
I believe . . .
  • #200
  • Sep 1, 2013 2:05am Sep 1, 2013 2:05am
Quoting Quidsey
{image} {image} {image}
Fabulous charts Quidsey!

How many of these did you take?

g.
I believe . . .
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