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Mastering the Art of Trading

  • #661
  • Edited 4:52am Sep 16, 2013 2:32am | Edited 4:52am
Quoting ghous
{quote} Hey KOS, Where your FTA is too close to allow for sound trade management, its always a good idea to defer the entry till you get a move through the FTA. {image} g.
Quoting Pinbar
Yeah, I have had my eye on it. Let's see how it closes. Edit: If it closes near the FTA where it is right now, I take it you will look for a pullback to the level, on the Daily TF?? No, H4 or H1 triggers to watch for? {image}
I think this post also answers my question about NZD/SGD
  • #662
  • Sep 16, 2013 6:06am Sep 16, 2013 6:06am
Quoting ghous
{quote} Hey KOS, Where your FTA is too close to allow for sound trade management, its always a good idea to defer the entry till you get a move through the FTA. {image} g.
Congrats for your 5000th Post!

KOS-fx!

Sometimes it's just so easy to look back in time, see the 1k pip profit and say "omg that could have been such a good trade" - while you are looking at your current chart you dont see the setups as appealing.
It's all psychology...
  • #663
  • Sep 16, 2013 9:44am Sep 16, 2013 9:44am
Hi Ghous ,

This pinbar on friday..Is this is a good setup on NZDCHF?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 15 KB
  • #664
  • Sep 16, 2013 11:06am Sep 16, 2013 11:06am
If you defer the entry till you get a move through the FTA you won't enter anymore near the HHR/LLS. Where it's good to put the stop loss if we enter after the FTA (under the FTA or under LLS)?
  • #665
  • Sep 16, 2013 1:03pm Sep 16, 2013 1:03pm
Quoting LamerTrader
{quote} Congrats for your 5000th Post! KOS-fx! Sometimes it's just so easy to look back in time, see the 1k pip profit and say "omg that could have been such a good trade" - while you are looking at your current chart you dont see the setups as appealing.
lol.

I didn't even notice.

g.
I believe . . .
  • #666
  • Sep 16, 2013 1:07pm Sep 16, 2013 1:07pm
Quoting alchemist86
Hi Ghous , This pinbar on friday..Is this is a good setup on NZDCHF? {image}
Hey there,

Notice the thick PPZ just underneath the HHR. Makes it tricky to go short straight away.

Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf.png Size: 31 KB


g.
I believe . . .
  • #667
  • Sep 16, 2013 1:09pm Sep 16, 2013 1:09pm
Quoting str8
If you defer the entry till you get a move through the FTA you won't enter anymore near the HHR/LLS. Where it's good to put the stop loss if we enter after the FTA (under the FTA or under LLS)?
Hey str8,

I prefer to use the other end (high/low) of the bar that pushes through and closes beyond the trouble area. So essentially that push through bar becomes your trigger bar. Its still a fake out trade (as in the trade extracts its merits from the fake out scenario) but your trigger bar isn't the actual fake out bar itself.

g.
I believe . . .
  • #668
  • Sep 16, 2013 1:28pm Sep 16, 2013 1:28pm
Ghous, if you look at intraday charts do you look for daily swing points or intraday swing points? Especially on 1hr chart I find the major 1hr swing points are really minor daily swing points.
  • #669
  • Sep 16, 2013 1:34pm Sep 16, 2013 1:34pm
Quoting str8
Ghous, if you look at intraday charts do you look for daily swing points or intraday swing points? Especially on 1hr chart I find the major 1hr swing points are really minor daily swing points.
Yeah that's because every time frame has its own order flow. Occasionally you'll see a lower time frame setup developing and translating into a higher time frame setup but its always best to treat your time frames differently and independently. So if trading on the 1H, I'd be more focused on the depth of the swing point as is on the 1H and focus on the action that I get off of it.

g.
I believe . . .
  • #670
  • Sep 16, 2013 5:07pm Sep 16, 2013 5:07pm
Quoting ghous
{quote} hey pipslearner, You drew the LLS wrong. Refer to the chart below. Also buying straight off of the region you pointed out, is a risky proposition because of all the trouble up above. More thoughts on the chart. {image} g.
Ohk Ghous, I understand now, am happy U replied me... Much thanks and God Bless...
  • #671
  • Sep 16, 2013 5:37pm Sep 16, 2013 5:37pm
This is AUDUSD Daily.
Kind of weird situation.
Price did not accelerate to HHR but "gapped" through it and made a double fakeoff pinbar.
Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily_1609.png Size: 35 KB
  • #672
  • Sep 16, 2013 8:04pm Sep 16, 2013 8:04pm
Dear Ghous,

Can you kindly comment on the possible fakeout scenario that I have identified.

Thanks,

Neytiri
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 160 KB
  • #673
  • Sep 16, 2013 10:05pm Sep 16, 2013 10:05pm
Quoting ghous
The video on Implicit Divergence is up! http://www.youtube.com/watch?v=FPBMX...=TLNwKr1OzuULA Enjoy! g.
pls i want to download this video, cos internet is expenive in my country. pls show me the download link
  • #674
  • Sep 16, 2013 10:26pm Sep 16, 2013 10:26pm
Quoting Neytiri
Dear Ghous, Can you kindly comment on the possible fakeout scenario that I have identified. Thanks, Neytiri {image}

just my comments
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 168 KB
80% effort, 20% luck
  • #675
  • Sep 16, 2013 11:53pm Sep 16, 2013 11:53pm
Quoting Pinbar
{quote} Yes, it is a demo to see how this level works out &, I shall be watching the FTA very closely tomorrow morning when the next bar opens. {image}

I am out at BE.
I do not have confidence in this pushing through the FTA anymore, after stalling for so long.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzddaily.png Size: 56 KB
  • #676
  • Sep 17, 2013 12:28am Sep 17, 2013 12:28am
Quoting Dr_Zulu
This is AUDUSD Daily. Kind of weird situation. Price did not accelerate to HHR but "gapped" through it and made a double fakeoff pinbar. Any thoughts? {image}
Hey there,

Gaps come in with a story of their own, but whats more important here for me would be the fact that there's more to the region around the HHR than just the HHR price level itself.

Refer to the chart below:

Attached Image (click to enlarge)
Click to Enlarge Name: au.png Size: 30 KB


I would have preferred a move through this whole PPZ prior to getting excited.

g.
I believe . . .
  • #677
  • Sep 17, 2013 12:41am Sep 17, 2013 12:41am
Quoting Neytiri
Dear Ghous, Can you kindly comment on the possible fakeout scenario that I have identified. Thanks, Neytiri {image}
Careful there,

I am looking at price currently sitting at a very critical area.

We have a PPZ, a trend line and the point where the gap filled up all lining up together.

Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 32 KB


I am normally willing to allow the market to fill in the gaps initially before I start to actively look for setups. This is because gaps revolve around a story of their own. So for instance we saw how price opened way above the daily HHR on NZD/CAD and spent the whole day filling it in. This can blur and override the fake out story because now we're not sure if the selling came in simply to fill in the gap (and find more buyers sitting at the HHR only to take price higher) or it was actually an attempt to sell into retail buying.

A little caveat here: If price has opened up with a gap to the upside on Monday, how many will be willing to buy knowing that gaps have a tendency to get filled in? And if the answer is not "many" then who are the pros selling to?

Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad.png Size: 27 KB


g.
I believe . . .
  • #678
  • Sep 17, 2013 12:43am Sep 17, 2013 12:43am
Quoting wash
{quote} pls i want to download this video, cos internet is expenive in my country. pls show me the download link
You tube doesn't allow you to directly download videos, but there are several free software around the web that you can use (simply Google) to download You tube videos.

g.
I believe . . .
  • #679
  • Sep 17, 2013 1:15am Sep 17, 2013 1:15am
Quoting KOS-fx
{quote} g. I would like if you can discuss kind psychological part of this method... Because I see most of the traders post set up some time there is very hard to relate this method and sometimes no setup... I think this is because most of the time impatience. Traders who used to take 5 - 10 trades per day will definitely suffer on no of setup on this method ( me tooooo ). So if you want success in this method all new traders have to practice patience like PIN and g. For me it is very much surprised to see experience pro traders let go a...
Hey Kos,

I was reviewing your question and decided to do a general video for the basic section as the issue you raise is extremely important and basic in nature.

Why is it important to be picky with your trades:

Inserted Video


Why is it so difficult to be picky for traders:

Inserted Video


g.
I believe . . .
  • #680
  • Sep 17, 2013 6:38am Sep 17, 2013 6:38am
Great cometary Ghous.
A video about the visual process you go through when scanning and how you determine an A class setup, would be great.
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