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Trading from an Experienced and Successful FULL TIME Trader

  • #221
  • Nov 12, 2013 5:31am Nov 12, 2013 5:31am
hello DC pls what do you think about this pair its a 4hr gbchf can this be a valid SR zone Pls comment welcome
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  • #222
  • Nov 12, 2013 6:52am Nov 12, 2013 6:52am
very good thread, thank you .
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #223
  • Nov 12, 2013 7:16am Nov 12, 2013 7:16am
usually . i do not trade with indicators, but if i will, i will use the Trix indi with stoc 5-3-3 close-close. it is giving me for h1 chart in most of pairs good signal for fast trades, hit and run, 5 to 8 pips within 1 to 4 hours.

good thread.

again thank you

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GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #224
  • Edited 9:23am Nov 12, 2013 7:33am | Edited 9:23am
Quoting gulayetty
hello DC pls what do you think about this pair its a 4hr gbchf can this be a valid SR zone Pls comment welcome {image}
I think this could of been a vaild S/R zone, but you need to look further and see what your smaller timeframes are saying. We know as of now price went past this one, but before you pull the trigger you need confirmation that this would be a valid trade, or it's a no go. Just my opinion.
Faith ends where worry begins, and worry ends where faith begins.
  • #225
  • Edited 7:51am Nov 12, 2013 7:38am | Edited 7:51am
Quoting Redddz
{quote} Hey dc, im new to this thread and i want to clarify this as i can see a good setup on GC on 5m as you mentioned earlier by you. {image}
As DC mentioned if your new to the system maybe stay away from the 5M charts, and use the 15M, 30M and 1H charts for confirmation before entering a trade. 5M is for more advanced users, and I would wait till I felt comfortable with the system first. Just a suggestion. As far as the chart goes, the only thing that would hold me back from taking the trade would of been the trix arrow was up at the time where you pointed the trade. I am not sure how the other TF's looked.
Faith ends where worry begins, and worry ends where faith begins.
  • #226
  • Nov 12, 2013 8:39am Nov 12, 2013 8:39am
wait for buy position in eurcad
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  • #227
  • Nov 12, 2013 9:11am Nov 12, 2013 9:11am
POTENTIAL TRADE IDEA!!!

Okay, I'm getting on a plane to head down to the Islands for the next 7 days but before I do I want to leave this trade idea up! Earlier in the week I posted a chart about the AUD possibly reversing at a certain level. We have ARRIVED THERE. Also, NZD is having the same looking charts. This is a major potential reversal area! Im going to post the charts so you can see what is going on exactly here (on Nzd). First of all, in picture 1, notice the two white lines. This is your SUPPORT ZONE. There is a pretty good probability we will get some sort of bounce here and because this is a 4 hour chart it could be a pretty decent one. Notice the blue arrows. Those are showing you all the times that the market is respecting this area. For this reason, I am carefully watching this just like i was watching EURNZD earlier in the week. (which has since gone 200+ pips from our signal) The checkmark is where we are now and what I am watching. You should be able to see why this is such a good area from the charts. One thing to note is we keep hitting this area from the SAME SIDE of the markets so with each hit the likelyhood of a breakdown becomes greater. Also to note, if a breakdown does occur in the coming days...it will be HUGE. First of all, this is a head and shoulders top on the H4 and secondly this is a very extended consolidation. We are talking hundreds of pips potential if it breaks down. Anyways, look at chart 2. Notice how, just like with the EURNZD the price is being constrained by the moving average. Each blue arrow shows this. Also notice we are getting alot of arrows and POSITIVE DIVERGENCE NOTED BY THE SOLID GREEN LINES on both 30m and 1 hour charts and we are at MAJOR SUPPORT. This is clearly telling us something as well! So how to enter this trade? Well, I will be watching for a clean break above the moving average and once this turns green and price pulls back into the moving average and a good support area I will certainly be looking for a long trade! This could take another day or two to pan out depending on whether the market wants to put in a bottom yet. This is just a trade IDEA SO PLEASE WATCH THE CHARTS AND MAKE SURE THE MARKET IS DOING WHAT ITS SUPPOSE TO BEFORE ENTERING!
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  • #228
  • Nov 12, 2013 9:14am Nov 12, 2013 9:14am
Quoting davidtrader
wait for buy position in eurcad {image}
This is a very interesting area David! Take a look at the daily chart. We are at the moving average and if you look at THV in relation to the last swing low it is much much lower, indicating hidden divergence...or as I put it "overdone". Possibly a substantial move up here. The last time we were this low on THV we rallied 800 pips. Trade with care!
  • #229
  • Nov 12, 2013 9:15am Nov 12, 2013 9:15am
Quoting Samer1970
very good thread, thank you .
You are very welcome!
  • #230
  • Nov 12, 2013 9:20am Nov 12, 2013 9:20am
Quoting gulayetty
hello DC pls what do you think about this pair its a 4hr gbchf can this be a valid SR zone Pls comment welcome {image}

Hello! You are in fact coming into a support zone here, however the 15 30 and 60m timeframes are all heading south in a pretty strong way. Before you could take any entry on this you MUST see price begin to turn up on those and begin to establish some upward momentum. You are catching on tho. It is in fact a GREAT idea to go up to higher time frames and mark off areas where there could be potential reversals because if they do play out the moves are often quite dramatic. Having said that, you definately want to make sure everything is lining up on lower time frames and enter based off of those. I only use higher time frames for potential reversal areas. One final thing to note on this is....this is clearly not a pullback but rather a trend reversal going on...the trendline from Nov 1 til now has clearly been broken and we are falling with alot of force off of those DAILY highs. Please check your dailiy chart. Please trade carefully, especially on this one!
  • #231
  • Nov 12, 2013 9:21am Nov 12, 2013 9:21am
Quoting Samer1970
usually . i do not trade with indicators, but if i will, i will use the Trix indi with stoc 5-3-3 close-close. it is giving me for h1 chart in most of pairs good signal for fast trades, hit and run, 5 to 8 pips within 1 to 4 hours. good thread. again thank you {image}
Hey Samer! good luck reading that chart ...just remember PRICE IS YOUR BEST INDICATOR and you MUST get use to reading that first and foremost BEFORE any indicator. Cheers!
  • #232
  • Nov 12, 2013 9:36am Nov 12, 2013 9:36am
Quoting davidtrader
{quote} thanks, some times we have great support or resistance area that broken, for example euraud in pic and we waite price pull back to broken area but price have strong move and dont pull back enough to broken area, in dis condition if every things be ok (such as coral colour and thv trix ) but price away from area can we enter for trade? or price must be bunce off broken area. cheers {image}
GREAT QUESTION! I'm glad u brought this up. Here's the deal on this one. If you look carefully this looks like some sort of head and shoulders hybrid (I just made that word up LOL)....so naturally this could be a MAJOR REVERSAL as it has been. You are very correct on your entry. I was watching the 1.4250 level as it was hit from below 3 times before breaking out. Also note the market tested this from above on Nov 1. For this reason this is what I would define as a MAJOR AREA. Price is respecting it from both sides of the market!!! Furthermore, pan out to the 4 hour. place a line at 1.4250 and u will notice this area has been respected MANY MANY TIMES. This is a MAGNIFICENT AREA!!!!!!!!! Now, having said that a pullback into this level would have been great, which we did not get. You did get a buy up there....and here's how I will sometimes look at this situation. In this case price looks VERY strong and when this happens you may not always get a pullback to your SUPPORT area. For this reason if I get a buy like that I will sometimes put on half a position, with anticipation that price will come back to that support level. IF I GET ANOTHER BUY AT THE SUPPORT I will double the trade with at that point much less pips risked on the trade. In this case, your stop would have been at 1.4220, just below the last swing low. IF YOU GOT ANOTHER BUY SIGNAL at 1.4260 for example you could have placed another order (double trade here because you are at a much better price) with the SAME stop loss. Now heres where money management comes in. Say you get in at 1.4335 with a stop of 1.4220 and u do 1 minilot. You are risking 135$. On the second order you enter at 1.4260 for example and your stop is at 1.4220 with 2 minilots. your risk therefore on the trade is $80 for a total risk on the trade of $215. Your target therefore must be $215 as a minimum! The price for this would be, once you had the full position on....about 1.4355-1.4360, which the market has obviously far exceeded. 1.4420 would have been a great target in all honestly looking at the charts. Take a look at the 1 hour and draw a line. I think you will see why I target that area. Remember, make sure you use sound money management! dont let your losers be bigger than your winners. good luck!
  • #233
  • Nov 12, 2013 9:41am Nov 12, 2013 9:41am
Quoting gulayetty
hello everyone i love this thread thanks a lot doriotcapita for this lovely thread i appreciate pls am learning to pick my support and resistant zone.see the arrow on my chart indicating the SR zone i have marked am i correct pls any one can comment i appreciate {image}
Fantastic Job my friend!!!! I was actually watching this very same trade yesterday. Additionally, my lines were at 1.0460 and 1.0470...now pan out to the h4 and zoom out on your charts a little bit....and you will see something very significant!!! The market used this area as a bounce area in late august, making this a price point from BOTH SIDES OF THE MARKET which means this area is AMAZING!! Hence, we got that bounce last night Please note the 30 minute time frame...we had 4 BUYS SIGNALS NEAR SUPPORT on this pair yesterday!! That is highly indicitive of a move up!!! which we did get. And of course targets were the last swing high with stops below the last swing low. You also got two entries popping up on the 1 hour and the 1 hour was a DIVERGENCE WITH THE TREND....JUST AS PRICE WAS TAKING OFF. Super powerful set up!!! Keep up the good work and remember to keep support and resistance #1!
  • #234
  • Nov 12, 2013 9:44am Nov 12, 2013 9:44am
Hi Fellow Floridian (Boynton Beach for me),
Nice thread!
Enjoy the trip.
  • #235
  • Nov 12, 2013 9:46am Nov 12, 2013 9:46am
Quoting fighterdude
{quote} Hi davidtrader, I am sure you are addressing this question to doriot, but I just wanted to chime in a bit here regarding this situation and others like it. (I hope that is OK doriot... plz let me know if not) The main reason we are waiting for price to retest a prior level before taking any trades is so that we have confirmation of price finding support/resistance at a level that it has used before. If it does so prior to a trade setup showing up on the indicators, then we will have a much higher probability of it working out since price...
Very well said fighter! I totally agree. There are some times when I see crazy set ups like the one he pointed out where Im willing to take on a two part position, when I think there is a likelyhood of a very significant move and also realize there may not be a pullback all the way to that support level....thats a bit advanced so not sure I should have shared that with the noobs. They might think Im approving of the martingale or grid strategy which I AM 100% AGAINST. I only go in partial trades in rare circumstances with CORRECT MONEY MANAGEMENT.
  • #236
  • Nov 12, 2013 9:47am Nov 12, 2013 9:47am
Quoting srt
Hi Fellow Floridian (Boynton Beach for me), Nice thread! Enjoy the trip.
Oh well shoot! Ill be at FLL tonight! maybe ill come by and visit before i head to the keys! LOL
  • #237
  • Nov 12, 2013 9:49am Nov 12, 2013 9:49am
Quoting Redddz
{quote} Hey dc, im new to this thread and i want to clarify this as i can see a good setup on GC on 5m as you mentioned earlier by you. {image}
Yep great trade! Again, if you are new I would be careful trading the 5 as it is a little more tricky and difficult.
  • #238
  • Nov 12, 2013 9:50am Nov 12, 2013 9:50am
Quoting jinchu
Hi DC, Great Trading Strategy, very simple yet comprehensive, will be following this thread .... Thank you for sharing.....
All my pleasure! I hope you can take away some things that will help your trading, unless you are already at 100% win rate LOL
  • #239
  • Nov 12, 2013 10:11am Nov 12, 2013 10:11am
Selling coming into Silver RIGHT NOW. 2 sell arrows with the trend AT THE MOVING AVERAGE on the 30 minute. Not to mention at a LARGE SHELF of resistance! This is what dreams are made of.
  • #240
  • Nov 12, 2013 10:17am Nov 12, 2013 10:17am
Quoting doriotcapita
Selling coming into Silver RIGHT NOW. 2 sell arrows with the trend AT THE MOVING AVERAGE on the 30 minute. Not to mention at a LARGE SHELF of resistance! This is what dreams are made of.
When you refer to moving average, what moving average are you using? do you use coral as a moving average?
Faith ends where worry begins, and worry ends where faith begins.
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