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Trading from an Experienced and Successful FULL TIME Trader

  • #61
  • Nov 10, 2013 11:32am Nov 10, 2013 11:32am
GOLD NUGGET #3

Here is a LIVE example about nugget #3. Like I have said in the last post, if an area is respected on BOTH sides, meaning acting as support and resistance in the past PLEASE remember when it comes into that level the likelyhood of a reaction is VERY high. Especially when you are trading WITH the trend. Having said that I have posted a daily chart of AUDUSD because we are coming into a very strong area on the charts. I am hesitant to post this because I dont want to see someone jumping in just because of this. You MUST have proper confirmation on the lower time frames to take a trade based off this area!!! This is just an area to watch that will VERY likely cause a reaction (bounce) in the market! Why is this level so powerful? Well take a look at where I have all the checkmarks on your chart. This area has been hit over and over and over and price reacted, SO WHEN PRICE COMES INTO THIS LEVEL IT WILL LIKELY CAUSE A REACTION. I have in dotted lines the "area" to watch and the checkmarks that are below price resulted in a bouce and checkmarks above price resulted in a sell off. Can you see the trading opportunity that looks to be the BEST on this chart? It would be the LAST checkmark. Price at that point was WITH THE TREND, making the odds of a BOUNCE off that area much better. You might say, well price was with the trend on the second check mark too. Well, this is true....however at that point there had only been one reaction off of price so thats why you would not take it....and the 2nd, 3rd, and 4th arrows were acting like a jackhammer hitting concrete...they were trying to blast through...usually the FIRST hit after a breakout is best....the second does work many times also..but that is another gold nugget which I will explain in the future. For that reason, because the hit we are coming into will be the 2ND in a row hitting this level from above it is less likely to react like the first one did. Still, a very probably area for a bounce. Happy Trading
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  • #62
  • Nov 10, 2013 11:33am Nov 10, 2013 11:33am
Quoting jurn_e
Hello DC, Thanks for sharing. Seeing some really good setups in visual backtest. Added my own flavour and will test run it next tomorrow. Cheers.

Great! I've only begun to scratch the surface. Please do demo trading until you get the hang of it!
  • #63
  • Nov 10, 2013 11:50am Nov 10, 2013 11:50am
One More LIVE example for the day! This is an example of the current CHFJPY daily. Take note of the dotted white lines. That is your support/resistance area because price hammered that area MANY MANY times (noted by the check marks) before finally breaking above it. Like I teach, the best time to get in is on the FIRST test of a significant area such as that after MULTIPLE hits and WITH the trend. You can clearly see here the trend was up so that ARROW would have been a great time to get in if you have the proper confirmation. The likely hood of a bounce off of that area as price comes back into it is EXTREMELY high because not only is it the first test of support, BUT you are also trading with the trend. On top of that, you were at the moving average, which also acts as support! You can see the 300 pip move that followed. Now, take note where the market is right NOW. Would you take a trade here? I would not and I'll explain why. This is the SECOND HIT of the support area and we have closed BELOW the moving average (support) two candles in a row so this MAY be the start of a breakdown. Secondly, take a look at the red trendline I have drawn. That trendline has operated as SUPPORT since June and price has closed below that as well. Definately NOT a great or even good set up for a long trade. Keep in mind, we are at MAJOR SUPPORT so a bounce is quite possible here, but again there are things that are sending DANGER flags so I am not willing to take the trade. The risk is simply not worth the reward here. If I find even one thing wrong with my charts I do not take the trade (except in very unusual circumstances - always an exception to the rule!). Clearly, we are seeing some issues here. That is why I put an X there. Not a good trade set up for a long position, in spite of the fact its hitting MAJOR support. But again, remember, THE FIRST HIT IS ALWAYS THE BEST TIME TO GET IN ALTHOUGH MANY TIMES THE SECOND HIT WILL WORK. Happy Trading!
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  • #64
  • Nov 10, 2013 11:54am Nov 10, 2013 11:54am
Quoting doriotcapita
{quote} Im so glad you see this! Unfortunately there will still be those who cant see this and therefore will move on to the next great thing that comes along and will stumble around in trading darkness forever LOL.
As you've seen there are other people here who are able to recognize the potential of what you're sharing without seeing 'proof'. Your method seems based on sound principles. That alone is reason enough to give it a fair chance by devoting some time to learn and test it.

I'm very glad, you're still here willing to share your insights with us Thank you.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #65
  • Nov 10, 2013 12:13pm Nov 10, 2013 12:13pm
Okay I lied, I have one more LOL. I want to show you how this works on ALL time frames (except lower are much less reliable). Again, please dont use support and resistance on anything under 15 minute charts! This is a AUDJPY MONTHLY chart. The first three arrows are pointing out areas of support the market is respecting. Then notice the MAJOR BREAKDOWN in Late 2008. When price comes back up into that area, SURELY it will react. Notice when it came back up into that region, marked by the dotted white lines (April/May 2012) the market sold off 1500 pips. Market respected that area because it had been hit so many times before! Not only that but you are clearly trading with the trend as the moving average is sloping down and RED. The first checkmark would have been a perfect trade set up! (as far as support and resistance and trend are concerned) Then notice price hit this area three more times because it was a powerful area, noted by the last three down arrows. Finally, price broke out above it in January 2013 and on the FIRST retest is the best time to get in. This area is noted by the second and last checkmark. Also notice the moving average at this point is moving up and green, so you are trading with the trend once again. POWERFUL SET UPS. Happy Trading!
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  • #66
  • Nov 10, 2013 12:14pm Nov 10, 2013 12:14pm
Quoting vox dei
{quote} As you've seen there are other people here who are able to recognize the potential of what you're sharing without seeing 'proof'. Your method seems based on sound principles. That alone is reason enough to give it a fair chance by devoting some time to learn and test it. I'm very glad, you're still here willing to share your insights with us Thank you.
Thanks, it is MY PLEASURE. I think the lights will come on with great brilliance and your jaw will drop as you continue to see what Im about to show you LOL.
  • #67
  • Nov 10, 2013 12:20pm Nov 10, 2013 12:20pm
Quoting eqshack
{quote} mine is up on mql5 etc..whatever i do doesnt play role here cuz i didnt make thread so i dont need to prove myself 2 you..I just want to see if system works out for him
Wasn't talking at you but @ Doriotcapita... The man says he is ''quite successful'' and I would like to see just how much success does he have in his short term trading.
  • #68
  • Nov 10, 2013 12:51pm Nov 10, 2013 12:51pm
Quoting Cobra
{quote} This thread is on page three and already assholes like you are getting demanding about "proof of success" This guy came here and he is willing to share something which is profitable to him. It is up to those who are interested in the method to make it work for them. If I were him I will simply stop posting here and just move on. The majority of members here are just members and not traders at all. Real traders will appreciate the contents of this thread without demanding statements to be posted. There is enough info given here already to...
I've seen too many posts like this on similar threads and forums throughout the past that it's not even funny anymore. Like a good joke repeated twenty times over.
''Only those who can persevere and know how to control their emotions will make a success.'' Good one. You could start by controlling the language in your posts because I was neither being an asshole to you nor to OP.
  • #69
  • Nov 10, 2013 1:04pm Nov 10, 2013 1:04pm
Quoting mmaker
{quote} Isn't it appropriate for praises to be given by your audience, instead of self-praise so early in your thread? "gold nuggets" and "great brilliance" and "jaw dropping" will come to you when your followers test it out on Demo. I support the call for TradeExplorer or Myfxbook, but only because of your self-praises.
Im not praising myself at all. I am just trying to use colorful words to ILLUSTRATE powerful points so you guys see it. If you think im begin haughty well Im sorry but I think I mentioned at the beginning that is one thing I desire NOT to be. Support all you want, but my objective is to help others not to prove to people how good I am and how successful I am. Posting those things would be self praising. End of story.
  • #70
  • Nov 10, 2013 1:08pm Nov 10, 2013 1:08pm
Quoting doriotcapita
Resistance or support is much easier broken when price is moving fast.
I think this blanket statement needs some clarification, before the noobs take it as gospel.

This depends a lot on how significant the level is and if there are other confluence factors. You definitely do not want price slowly creeping in the direction of your levels as this could signify accumulation and lead to a breakout through the level. If you are confident in your level's strength, you should not fear semi fast moving price at all (see seneca's thread)
  • #71
  • Nov 10, 2013 1:11pm Nov 10, 2013 1:11pm
Quoting mmaker
{quote} Isn't it appropriate for praises to be given by your audience, instead of self-praise so early in your thread? "gold nuggets" and "great brilliance" and "jaw dropping" will come to you when your followers test it out on Demo. I support the call for TradeExplorer or Myfxbook, but only because of your self-praises.
Those area actually not self praises at all mmaker. Gold nuggets are things that I have been shown or discovered from my amazing mentors that I feel will help those reading out ALOT. I am very grateful that I have the opportunity to help others out and also very grateful for the mentors that I have gotten to work with. It is truly a humbling experience and the last thing I want to do is come off haughty or arrogant. My goal is to show others what I already know about the markets. Also, what Im showing is clearly not something that can be "tested out on demo" as this is not a black box 'system'. This is REAL market analysis and not a 1+2=3 system. As you see the examples I put up in the future I think this will become much more clear.
  • #72
  • Nov 10, 2013 1:12pm Nov 10, 2013 1:12pm
Instead of asking you to show 'proof'...i will put it to test myself straight away and see how it works...
You have outlined the rules clearly and it does make sounds...thanks for sharing it!!
Hope to see more 'gold nugget' from you...I'm following this thread closely...
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  • #73
  • Nov 10, 2013 1:18pm Nov 10, 2013 1:18pm
Quoting fxterrapin
{quote} I think this blanket statement needs some clarification, before the noobs take it as gospel. This depends a lot on how significant the level is and if there are other confluence factors. You definitely do not want price slowly creeping in the direction of your levels as this could signify accumulation and lead to a breakout through the level. If you are confident in your level's strength, you should not fear semi fast moving price at all (see seneca's thread)

I agree terrapin. Like I said in my other posts... HIGHER TIME FRAMES yield stronger areas and areas that have been respected many times in the past are much more likely to hold up. Nonetheless, if price is SLAMMING into the area I MUST see overwhelming evidence that its going to reverse or I will absolutely not get into the trade. I just wanted to state that the likelihood of price continuing is much greater if price is moving fast.
  • #74
  • Nov 10, 2013 1:23pm Nov 10, 2013 1:23pm
Quoting doriotcapita
The higher the time frame, the more significant the area of support and resistance AND the more times an area has been hit in the past the more likely price will bounce there.
Just to add my 2c since I can't seem to shut up...

Yeah, this is pretty much BRV stuff (no brainer trades thread). BUT I have noticed that long-term resistance (weekly esp.) does have the huge downside of being drawn inaccurately. The range of these levels is very great as there tends to be more ambivalence as to exactly where to place the lines among traders (which means larger stops and less size). This negates the originally advantage of the strength of long-term levels. If I had to chose between weeklies and a bunch of confluence factors (MAs, S/R, pivots) on the 1H, I would definatly chose the latter. But yes, forget 5M /15M stuff, the turn-over is too fast for the limit/stops orders to accumulate around these levels.

Also, what is meant by saying that long-term levels are "stronger" is really saying, the moves from these tends to bring more pips. Over the long-term the daily, weekly levels break just as easily, it just takes longer to track all the times they fail (as they are long-term levels, duh!) This is an important by subtle difference. That's why the short-term levels are for scalping

Personally, I have seen 1H levels hold much more significance than weeklies. There seems to be a sweet-spot (distribution rage) around the 1H/4H area.
  • #75
  • Nov 10, 2013 1:28pm Nov 10, 2013 1:28pm
I see they moved this to the trading discussion forum. I guess its not a system afterall LOL
  • #76
  • Nov 10, 2013 1:29pm Nov 10, 2013 1:29pm
Im still going to be posting trades and such and why Im getting in so hopefully people still pay attention here
  • #77
  • Nov 10, 2013 1:31pm Nov 10, 2013 1:31pm
Quoting fxterrapin
{quote} Just to add my 2c since I can't seem to shut up... Yeah, this is pretty much BRV stuff (no brainer trades thread). BUT I have noticed that long-term resistance (weekly esp.) does have the huge downside of being drawn inaccurately. The range of these levels is very great as there tends to be more ambivalence as to exactly where to place the lines among traders (which means larger stops and less size). This negates the originally advantage of the strength of long-term levels. If I had to chose between weeklies and a bunch of confluence factors...
yes they do definately bring in more pips. I will say that 1 hour and above levels hold up the market and cause market reactions MUCH BETTER than the 1 and 5 and 15. There is a reason why i look strongly to the 1h 4h and daily to determine possible bounce areas
  • #78
  • Nov 10, 2013 2:01pm Nov 10, 2013 2:01pm
Quoting doriotcapita
{quote} yes they do definately bring in more pips. I will say that 1 hour and above levels hold up the market and cause market reactions MUCH BETTER than the 1 and 5 and 15. There is a reason why i look strongly to the 1h 4h and daily to determine possible bounce areas

Do I see a trade explorer coming our way? Let's unprivate that baby!
  • #79
  • Nov 10, 2013 2:10pm Nov 10, 2013 2:10pm
Quoting fxterrapin
{quote} Do I see a trade explorer coming our way? Let's unprivate that baby!
LOL! Yes it's up but I'm debating on who I want to see it. I'm still undecided.
  • #80
  • Nov 10, 2013 2:12pm Nov 10, 2013 2:12pm
"I have been trading for about 10 years and I started off trading penny stocks; I then moved to larger cap stocks and options. Several years ago I met a very successful forex trader and I started trading forex, as there were many pros (vs cons) that the other markets did not offer. I have received teaching from some of the BEST traders in the stock and forex markets; many of whom worked years on the trading floor of the NYSE and other major markets. Some of my mentors were actual market makers, and have taught me the tricks of MM's and how exactly the market works"


Im just curious, and that is because i never met real succesful traders in real life ( here on ff.com everyone is succesful) ....those mentors, succesful traders, market makers from which you received great teaching....what have they teach you ?
im asking because you started with that nice story...then moved to trade you version of Cobra`s THV..

im not saying you are not succesfull or anything else ( it will be a first on ff.com hystory)....but i find it hard to belive that those mentors, big players, market makers...etc are trading THV

thanks in advance
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