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Mastering the Art of Trading

  • #341
  • Sep 4, 2013 4:35am Sep 4, 2013 4:35am
Awesome video Ghous, for now though, I am going to stick with the dailies

Of course even the dailies don't give a 100% guarantee with these set ups, but with some common sense and money management, I think are much easier to trade than lower time frames.

Happy trading
What you do is a reflection of you....what I do is a reflection of me.
  • #342
  • Sep 4, 2013 4:39am Sep 4, 2013 4:39am
Quoting Ezzy
Awesome video Ghous, for now though, I am going to stick with the dailies Of course even the dailies don't give a 100% guarantee with these set ups, but with some common sense and money management, I think are much easier to trade than lower time frames. Happy trading
Hats off Sir!

That shows soo much maturity I am almost jealous lol. Because I can remember every time I got hooked to a new system I wanted every basic/advanced trick to go down my thick skull straight awayl

I started off with the dailies as just an excuse to get good at trading so I could later move to trading the lower time frames big time. And today I am trading full time and still majorly trade the higher time frames. I don't think the lower time frames come anywhere near the peace that the higher time frames deliver.

Refreshing post.

g.
I believe . . .
  • #343
  • Sep 4, 2013 5:53am Sep 4, 2013 5:53am
Quoting MisterSpread
{quote} Hey Ghous, Well because I saw that it was a retracement from the 1.34800 level, the HHR on that TF and as you can see from my chart I waited for the retracement bar to close under the Resistance. Now I'm going to lay out several reasons for my entry at that point and you,Pinbar or anyone who can dectect a mistake on my chart + analysis is free to tell me because I want to learn: 1. The 1.34800 it's 100 Fibo level on weekly and was not breached. 2. I'm watching EURUSD for quite a while and I see that everytime when it tried to touch or breach...
I tried deciphering what you're saying but really couldn't in the end. Quite possible that its due to the fact that the entry you took was more because of your other method than the fake out method.

So there isn't much I can comment on except that you got a nice trade there.

g.
I believe . . .
  • #344
  • Sep 4, 2013 5:54am Sep 4, 2013 5:54am
Quoting max pain
Great info Ghous... read all from your first post.. added the info to the forex repository in my brain and accumulated all the info at one place for the new users.. {image}
Good stuff! This is going to post 1

g.
I believe . . .
  • #345
  • Sep 4, 2013 6:02am Sep 4, 2013 6:02am
Quoting Pinbar
{quote} Thanks Ghous I should really be out of this trade now, especially as we have H4 bars closing above the 1.46000. Perhaps the SL is too big? That said, I now realize the dilemma of having to wait for a daily close above the fake out bar. {image} {image}
Agreed.

There is no harm in cutting the trade out before it hits the SL if there is strong evidence that the trade isn't working out the way you want it to. I do it all the time, so much so that its not common for me to take a full bar loss.

I took a half bar loss on Eu that I shared here, and another half bar loss that GJ gave me. I actually recorded that trade and was going to put up on the vimeo channel when I noticed it won't play in HD.

g.
I believe . . .
  • #346
  • Edited 7:18am Sep 4, 2013 6:11am | Edited 7:18am
Quoting ghous
{quote} Agreed. There is no harm in cutting the trade out before it hits the SL if there is strong evidence that the trade isn't working out the way you want it to. I do it all the time, so much so that its not common for me to take a full bar loss. I took a half bar loss on Eu that I shared here, and another half bar loss that GJ gave me. I actually recorded that trade and was going to put up on the vimeo channel when I noticed it won't play in HD. g.

I will let it play out as the SL rule is a close above the FOB.
This is a demo trade so, I will watch the mechanism of the SL working or not.
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  • #347
  • Sep 4, 2013 10:08am Sep 4, 2013 10:08am
Another 4hr/Daily method similar to Jaroo...I'll play along. Here is a 4hr chart of GBP/NZD making some Southern Exposures off of the strong resistance.
Attached Image (click to enlarge)
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Best,

Eric.
" Be always employed in something useful." - Benjamin Franklin
  • #348
  • Sep 4, 2013 10:12am Sep 4, 2013 10:12am
Quoting cougar73
Another 4hr/Daily method similar to Jaroo...I'll play along. Here is a 4hr chart of GBP/NZD making some Southern Exposures off of the strong resistance. {image} Best, Eric.
Hey Eric,

Its good to see you here.

g.
I believe . . .
  • #349
  • Sep 4, 2013 10:20am Sep 4, 2013 10:20am
Your posts have been scarce on the PF...I went looking for where you went...and found you over here. I can hang out here too.

I'll help out where I can. HHR and LLS look like HCR and LCS, so my charts will have similar sounding terms on them. Daily/4hr/1hr is my cup of tea.

Glad to be here,

Eric.
" Be always employed in something useful." - Benjamin Franklin
  • #350
  • Sep 4, 2013 11:02am Sep 4, 2013 11:02am
Quoting cougar73
Your posts have been scarce on the PF...I went looking for where you went...and found you over here. I can hang out here too. I'll help out where I can. HHR and LLS look like HCR and LCS, so my charts will have similar sounding terms on them. Daily/4hr/1hr is my cup of tea. Glad to be here, Eric.
I still drop by the PF every few days. Love reading the stuff there. Just don't post around much but I am still there.

g.
I believe . . .
  • #351
  • Sep 4, 2013 11:11am Sep 4, 2013 11:11am
chart.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 29 KB


g.
I believe . . .
  • #352
  • Edited 3:39pm Sep 4, 2013 3:13pm | Edited 3:39pm
Quoting ghous
chart. {image} g.
Very Nice Look. It looks cool. I will look for PA in lower time frame.
First traget 1.3250, second 1.3300 or it can be 1.3400.
Price Is The Best Indicator Itself.
  • #353
  • Sep 4, 2013 5:54pm Sep 4, 2013 5:54pm
Is this a setup:

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  • #354
  • Sep 4, 2013 7:01pm Sep 4, 2013 7:01pm
Quoting ghous
chart. {image} g.
Is this EMA rejection trade ???????
80% effort, 20% luck
  • #355
  • Sep 4, 2013 8:31pm Sep 4, 2013 8:31pm
This was a nice setup, apart from the close being too far from the level. Too bad I was in the middle of moving house at the time.
Attached Image (click to enlarge)
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  • #356
  • Edited Sep 5, 2013 4:08am Sep 4, 2013 9:41pm | Edited Sep 5, 2013 4:08am
Quoting Oakwoodinc
Is this a setup: {image}
Yes, but not one that needs more than a few seconds to pass on.

See reasons on chart.

Hope this helps

Edit; Oops wrong chart.
Attached Image (click to enlarge)
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  • #357
  • Sep 4, 2013 9:43pm Sep 4, 2013 9:43pm
Good Morning all,


To Ghous thank you for all your time, Video is beaut I hope we get some more. Pinbar also thanks for your inputs and advice, all well recieved.

As you see form my trade on post #321 I got stopped yesterday. I figure I was one of the smart money traders bait.


This is my trade today once again I am left with exactly the same questions as post #321 (should I enter immediately on the close of the FO bar ie: early evening US)


Also further to this as in my trade yesterday the 150 EMA is not really and influencing factor (ie: its quite a distance form the FOB or HHR/LLS) but i see in some of Ghous set ups in early posts #2 it was not a factor either.


Any comments and critique would be greatly appreciated.
Kind Regards

Anthm
Attached Image (click to enlarge)
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When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #358
  • Sep 4, 2013 10:22pm Sep 4, 2013 10:22pm
I am going in, put my Stop loss at the end of bar.
Attached Image (click to enlarge)
Click to Enlarge Name: EuroDaily.PNG Size: 46 KB
Price Is The Best Indicator Itself.
  • #359
  • Sep 5, 2013 12:18am Sep 5, 2013 12:18am
Quoting asim.iqbal
I am going in, put my Stop loss at the end of bar. {image}
I would be careful with such "off the system" trades. They might turn out to be good, and then these give you some kind of positive feedback, that "yes, it was good that I made this trade, since I made profit"
Also note that we just broke out of the PPZ and what you see and trade might be nothing more but a pullback or a retest.

2) I know we dont talk about news that much but also note that NFP is coming out this Friday which will have the final word on the EU...

I hope it makes some sense

Cheers,
Stephen
It's all psychology...
  • #360
  • Sep 5, 2013 12:37am Sep 5, 2013 12:37am
Quoting LamerTrader
{quote} I would be careful with such "off the system" trades. They might turn out to be good, and then these give you some kind of positive feedback, that "yes, it was good that I made this trade, since I made profit" Also note that we just broke out of the PPZ and what you see and trade might be nothing more but a pullback or a retest. 2) I know we dont talk about news that much but also note that NFP is coming out this Friday which will have the final word on the EU... I hope it makes some sense Cheers, Stephen
Hey LT,

I am in a confuse. This is not a fake out trade and what I see is 150 EMA act as a resistance.

You mean 150 EMA rejection trades are not include in original method aren't it???????

Pl clarify..

Thanks

KOS
80% effort, 20% luck
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