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The Dance Continues

  • #1
  • First Post: Dec 1, 2013 5:28am Dec 1, 2013 5:28am
This thread is dedicated to the original concept of trading ' the dance ' strategy by clay & the reason behind starting this thread is pretty clear - abuse of additional indicators & strategies being implemented on the original concept & that is against the rules.

what is against the rules . . is against the rules . . no matter who you are & what you achieved using this strategy .

we need to enforce the rules of dance on ourselves & others who trade using this method till date, specifically on this thread. I do not care if i happen to be the only one posting in this thread for the next few years.


i pledge to play by the rules & gain an edge using the original tools of ' the dance '.

.Hawk.



RULES OF THIS THREAD (Clay)

  1. GROW UP! This is supposed to be a safe place for people to grow and learn. Learn to behave like adults, do some work on your own and read THE FREAKING MANUAL first! THEN follow the rules of the thread, THEN ask questions.
  2. Stick to THIS strategy or you're history and go on the ignore list so you can't post anymore and waste other people's time.
  3. BE NICE! If you start trashing someone else, or the strategy you're history and go on the ignore list so you can't post anymore and waste other people's time.
  4. NO VULGARITY, it's senseless, adds nothing and only weak minds need it to express themselves forcibly. Use it and you're history and go on the ignore list so you can't post anymore and waste other people's time.
  5. NO ARGUMENTS period. Disagreements and civil discussion is wonderful, get pissy and you're history and go on the ignore list so you can't post anymore and waste other people's time.
  6. ALL POSTS MUST INCLUDE IMAGES OF BOTH the point of entry WHEN IT WAS TAKEN, not several bars later AND the exit WHEN IT WAS TAKEN. This is about “seeing it live,” not trading from history. Practice the screen capture process before posting to make sure you know how to do it. If you violate this too many times, you'll end up on the ignore list. In the next “Rule” I give you links to some good Screen Capture software and even include a free one in the Zip file below with the Tools in it.
  7. ALL images must be in either .jpg, .jpeg, .gif, or .png format AND be sized so they don't mess with the page width making it hard for others to read and use the thread. There are several really good free ones on the 'Net such asFastStone Capture (www.faststone.org/FSCaptureDetail.htm), SnapShot (nicekit.com/screen-capture/best-free-snapshot.htm), HyperSnap (www.hyperionics.com/), and many others, just search (http://www.google.com/search?q=free+...capture+softwa re&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1). Then learn to post the images on FF. You get one or two chances before you go on the ignore list so you can't post anymore and waste other people's time.
  8. READ THE MANUAL, do some work on your own. It's all been laid out for you, even how to practice the strategy. If you ask too many questions already answered, you might just end up on the ignore list.
  9. NO talk of ANY EA, except possibly one to trail the Stop Loss "BY THE RULES" and NO others or you go on the ignore list.
  10. NO OSCILLATORS OF ANY KIND! They lie way to often waste valuable screen space and for the most part are useless adding only complexity, distraction and nothing of real value. I have used and tried several hundred of the almost 2000 I have downloaded. Most are pretty useless.
  11. NO FIBS, NO TREND LINES, NO PITCHFORKS, NO GARTLEYS, WOLF WAVES, GANN lines or any other such stuff that would only confuse those trying to learn this strategy. No talk of long term support and resistance levels (we only use them from the past few days as explained in the manual), no talk of “traditional” chart patterns such as Head and Shoulders, triangles, pennants, etc, etc, ad nauseum. Yes they work but they would only confuse those trying to learn this strategy. You risk going on the ignore list and not being able to post if you do much of it.
  12. PSYCHOLOGY! Don't waste anyone's time arguing about it. THIS strategy takes the point of view that FEAR IS THE ONLY enemy, that even greed can be a good thing if you learn to manage it properly. Learning to be persistent, believing in yourself and the skills you work to develop is CORE to this strategy. There are a good many books on this issue. Think and Grow Rich by Napoleon Hill (included in the Tools Zip file), The Greatest Salesman In The World (http://www.amazon.com/Greatest-Sales.../dp/055327757X)by Og Mandino is awesome and only costs about $7.00 at Amazon. This one book started my life down a very, very good road. I firmly believe that “if you can hold it in your mind, you can hold it in your hand!” Benjamin Franklin once said, “If a man will empty his purse into his mind, his purse will never be empty.” The only ones who are ever defeated are the ones who give up. If you don't believe it first, you'll never have it. Patience and Discipline are next in line. Read the manual for it. 'Nuff said about Psychology.
  13. This is a 15 minute strategy that can also be used on several other time frames. Try to stick to the 15 minute version for continuity's sake. If you get too far into talking about another time frame version of this, take it to another thread so you don't confuse people on this one. Too many violations, you get a warning, then you go on the ignore list. Be kind to those who have less experience and don't confuse them, trading can be hard enough without any help.
  14. I only comment on images posted, or post myself AFTER TRADING is finished for me for the day.
  15. I won't hesitate to ask for a cleanup on posts that confuse the purpose of this thread or were made by someone who ended up on the ignore list.
  16. Lastly, GROW A PAIR and take responsibility for your trading! Neither the market nor the borkers (yes I spelled it the way I meant it) even care about you and your account. Some borkers do hunt stops, but they have to hunt ALL stops, not just yours or fraud would be easy to prove against them. NO WHINING about it! If you got stopped out, you did not get taken advantage of, YOU made the decisions to trade, where to put your SL and until you grow a pair and start admitting your responsibility, you will not succeed. If you start whining, you go on the ignore list so you can't post anymore and waste other people's time.

I hate to be so draconian with the rules, but I have seen too many good threads destroyed by the pettiness of mental midgets who think they have a right to throw their puke all over everyone else or think they have the only valid solution to the FOREX puzzle, when in fact there are hundreds of good ones. This is just one more, but perhaps a simpler one to actually “see” while you trade live.

I have no personal “Axe” to grind, I wish no one anything but great success, but I have no patience or tolerance for bullies, educated idiots or arrogant boneheads, Trolls and Troglodytes. Get over it and grow up!

God bless, and good trading to you all
Clay"

  • #2
  • Edited 2:14pm Dec 1, 2013 5:53am | Edited 2:14pm
This is ALL one needs to be consistently profitable.

Except this, it is only :-


YOU AGAINST YOURSELF ! ! !

_________________________
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Attached File(s)
File Type: pdf The Dance Manual.pdf   4.8 MB | 2,930 downloads
File Type: pdf The M15 Dance Manual.pdf   4.4 MB | 2,412 downloads
File Type: pdf Thee Main Trades of The Dance A.pdf   4.3 MB | 1,829 downloads
File Type: pdf Three Trades Live Examples.pdf   2.9 MB | 2,547 downloads
File Type: pdf The Simple Dance Part One.pdf   1.3 MB | 1,661 downloads
File Type: pdf The Simple Dance Part Two.pdf   1.7 MB | 4,326 downloads
File Type: pdf Learning to Dance - My Journey.pdf   107 KB | 1,328 downloads
File Type: zip The Dance Tools.zip   2.8 MB | 1,778 downloads
File Type: pdf Two Bar Rule Explanation.pdf   206 KB | 1,618 downloads
  • #3
  • Edited 4:51pm Dec 1, 2013 6:40am | Edited 4:51pm
Two Bar Touch Trade (TTTT) - AAA entry

__________________________________________________________________________________
Quoting eclayf
10 EMA TOUCH TRADE ENTRIES ON M 15 (PIC 1 - close to perfect ***)


TWO BAR RULE for 10 EMA touch trade is simply a " retrace " trade. it takes NO MORE THAN TWO LARGE BARS to touch the 10 EMA and the EMA is at a very " steep angle " of about 45 degrees or more and the retrace should be almost vertical or you should pass on the trade and wait for P/A to reveal where Price is really going.

*** Often the bar will "blow through" a pip or two at the "touch" and on those I wait a moment or two to see if it's continuing. If it hesitates there a bit, and pulls back after "blowing through" I take the trade but I keep a very, very tight SL on the trade

_____________________________


35 SMA / 50 EMA TOUCH TRADE ENTRIES ON M 15 (PIC 2)

TWO BAR RULE for 35 SMA / 50 EMA touch trade is simply a " retrace " trade where it can take ONE -TWO or even FEW more bars to touch the 35 / 50 MA's. The FEWER the better.

Normally the EMA's are at a very " steep angle " of about 20 degrees / more OR both are on TOP OF EACH OTHER . . . If both conditions meet then it is a very strong signal.


Remember that the BEST "touch" trades are "two bar" trades. There are some where three bars work. What you need to be looking for is progressively smaller bars. THOSE are the real problem, but for simplicity's sake, stick to the Two Bar rule as it is very, very accurate.
The closer the 35/50 lines are the stronger the trade will be. The farther apart they are the more likely you will find a lot of little bars before price actually touches the 35 / 50 MA's.
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Attached Images
  • #4
  • Edited 4:55pm Dec 1, 2013 6:41am | Edited 4:55pm
____________________________________________________________________________________________
Quoting eclayf
First, it's not a flashy system, just built on the core basics of simple things that work. Most think that trading is somehow a complex issue and hard to grasp. The fact is that it's pretty simple and that "WE" are the only thing complex about it and "WE" make it harder, much much harder than it needs to be or is.

Second, the "rules of the thread", I don't intend to scare off anyone, but I also don't intend to let this become another arguement forum with lots of unrelated garbage in it. Might also be that there are so many already on my ignore list. Doesn't matter "who" is on it, only that the reason they are on it is for being "pissy" toward another trader, or trying to tell everyone "their way" is the "only way" it can be done. I have tried to make it as complete as possible, including all the tools to post in the thread, understand the process of "getting there" to have a strategy of one's own, how to "make it a business" not a gamble and all the things I heard so much about while learning, but never really ever got a solid answer about "how" to do that. Simple example of that is "Let the market show you it's 'hand' before entering a trade." That one alone used to really mess with me. If I waited and was patient, the market simply ran past me, if I entered too quickly it crushed me. Never failed and every one who tried to explain it made it some complicated thing. The truth of that one little thing is that every strategy is built on what the creator perceived as how the market reacts to "their" strategy and that simply following the "rules" DID SHOW you the market's "hand" so to speak. The issue is that the market, can simply move the other way after it's done that. So the "real" issue wasn't seeing the market's "hand" but learning to deal with the fact that after it has "shown it's hand" it can simply change it's mind.
We do our best "by the rules" that we can, we set a proper stop loss to act as both a disaster stop and to mitigate risk "by the rules" then we learn to live with my favorite trading quote from Endroute,,,"Some do, some don't, SO WHAT, next!" We have to learn to take our trades dispasisonately, not get "hurt" or upset when the market lies to us according to "our" strategy, whatever strategy that may be. It's never personal and no one "out there" in the market, not the traders, not the borkers, not the banks, no one even cares about our tiny little trade, even if its a ten million dollar trade. Clay
____________________________________________________________________________________________
____________________________________________________________________________________________
Quoting eclayf
The "Touch Trade" is taken at the "Touch" NOT at COB (Close of Bar). The SL needs to be moved as soon as possible to a minimal distance on a touch trade of no more than -11 or so as seen in the images below. Then the SL is "trailed" up at the bar extremes as seen. When price approaches a S/R level from prior P/A or a Round Number, you need to watch it very closely. These trades quite often net out from 20 to 50 pips and many times as much as 90 or so.


The main issue in trading, as I see it is to take as near to perfect entries "by the rules" as possible, then let the rules protect you and give you the confidence to take the trades. Without that confidence, trading becomes a real struggle. The NEXT main issue is to learn to manage the trades the best way possible and never worry about taking your pips "too early." It is PERFECTLY acceptable to get out at +10 pips if that's all you can stomach at the moment, you will gain confidence from spending more time on the Simulator, and on live charts in demo. IT WILL become easier to see these and take them immediately without hesitation and that is the key to success in any strategy, not just this one.


The images posted below (1,2,3) show what I am talking about. One could have managed this trade two ways, one is to exit when it hesitated at S/R on the second bar, then wait for another setup. Or, you could have allowed the trade to retrace almost totally against you and set the Sl just below the 50 EMA to allow for some variance in the next bar, expecting the 50 to act as Support, which is very often does. Then begin trailing the Stop until you get to the next S/R level and decide again to stay in or exit. That approach would have netted you around 70 pips or so. To exit at S/R and re-enter at the 50 would have netted more, but requires more experience. And, yes, you could just take another position instead of exiting at the first S/R level and re-entering. The strategy is flexible enough for you to find ways to really, make it you own as I talk of in the manual. NOW,,,, THIS IS THE FORMAT I want the images posted in, NOT several bars later. That becomes confusing to many who just want to watch and read, as I did for over a year here. YOU MUST include the Top above the chart so we see the currency being traded and the part below so we see the time frame as in these images. This is a fifteen minute chart strategy and it takes less than 30 seconds to take a screen shot and save it at the entry and the exit. NO EXCUSES guys, learn to do this or I'll have to be harsher about it. Keep in mind these are off the Simulator and do not have the currency at the top left of the chart like normal.
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  • #5
  • Edited 12:23pm Dec 1, 2013 6:41am | Edited 12:23pm
____________________________________________________________________________________________
Quoting eclayf
In the first picture, I have posted the chart of Gbp/Usd and noted 20 spots where there "seem" to be signals and below I describe why each is, or is NOT a signal.


Point 1: This is not a signal because it violates the "two bar rule" AND the lines are completely horizontal here. There is also a very close Round Number that has been extremely strong support for a while.


Point X: I added this after I had already marked the whole image and forgot to mark the best entry on the whole chart. PERFECT entry,,, ONE bar "race back" to the 35 AND it "dead ends" INTO the 35. Price has moved fairly significantly prior to the "race back" to the 35, over 20 pips at least in just the last two bars and over 40 pips overall in the "up" move from the Round Number.


Point 2: This, though it looks good is NOT an entry signal "by the rules" BUT with experience could be taken. MOSTLY it is a "stay in" signal IF you have held on to the COB here. One would simply trail the SL up to just a pip or two below the wick of the bar.


Point 3: This is not a strong signal "by the rules" as there is no actual "touch" of the 10 EMA, but with experience you might take it. I would NOT take it and in fact did not take it in the live session, but did take #2.


Point 4: This is not a signal either. It's close, but no cigar here. It violates the "two bar rule" and there is no touch of the 10 EMA. With that said, experience with "shave top" and shave bottom" bars this close to what would have been a good signal might be acceptable IF you have already mastered the strategy's BASIC THREE entries FIRST. But, for an indicator, NOT a signal.

Point Y: I added this after looking at all the areas I marked as well. It's NOT a trade "by the rules" EXCEPT that on H1, it WAS a "touch trade" on the 50 EMA. It could have been taken either at the "Touch" on H1, and then you would have had to wait through three more bars on M15, or it could have been taken at the COB of the last bar to attempt to go below the M15 50 EMA. IT IS a signal, but not sure how you would program it into an indicator.


Point 5: This IS a signal, the angle of the 10 is pretty steep, it keeps with the "two bar rule," Price has just moved up almost 50 pips and then in two bars it raced back almost 20 pips to the 10 EMA.


Point 6: IS a signal because of the way the bar closed AT the 35 SMA. It is an "iffy" "Touch" trade but a strong COB 35 resistance trade "by the rules."


Point 7: IS NOT a signal. Price has not moved up far enough to create a "touch" trade from a "race back" but it is a "stay in" signal. So no arrow here.


Point 8: The circled area IS NOT a signal, but IS an area of continuing support and constrainment to STAY IN, but not to enter. So there should not be any arrows here at all.


Point 9: IS NOT a signal. Violates the "two bar rule" and though price did move up far enough to be able to create a signal, the three bars are all pretty small. there is no "race back" at all, just a slow driveling retrace.


Point 10: IS NOT a signal. This area is interesting. With a bit of experience one might take this as a short, but "by the rules" we do NOT take shorts while price AND the 10 are above the 35/50 lines.


Point 11: This circled area also DOES NOT have any signals in it. The 35/50 lines are definitely sideways here and too close together for any solid signals really. The "trend" is still definitely up, and the ONLY point here that might even be considered as a "by the rules" signal is


point 12: Point 12: This IS a signal, but just barely. It follows the "two bar rule" it does "touch" the 50 EMA, which indicates a re-entry back into the trend of the moment. BUT it's "iffy" and you can see the very next bar would have taken you out.


Point 13: IS a signal, BECAUSE ON H1, it is a "Touch Trade" that is perfect AND at the confluence of the 35/50 lines. GREAT signal and I missed it.


Point 14: IS NOT a "touch trade" but IT IS a P/A S/R trade bouncing off the Round Number WITH the trend of the moment. Looking at the last four bars you can see clearly that the RN is an S/R level being respected.


Point 15: IS NOT a strong signal. It does NOT "touch" the 10 EMA, but if you look left you can see that there is an area of slight P/A S/R here. I probably would not have taken this trade, and did not take it live. BUT with experience, one might catch this.


Point 16: IS NOT a signal "by the rules, BUT with experience, it could be taken as it is also at a level of prior P/A S/R. It violates the "two bar rule" for really strong 10 EMA "touch" trades, but the S/R level strengthens the this as an entry at the "touch" of the 10 EMA.


Point 17: NO SIGNALS here, at least not "by the rules" and not until point 18.


Point 18: THIS IS a GREAT Signal. It is at an area of prior P/A S/R and on H1, it IS a "touch" trade off the H1 10 EMA.

Point 19: IS NOT a signal. The prior P/A is indicating a potential reversal here and it violates the "two bar rule" as well.


Point 20: Nothing in this area creates any kind of signal. Price Action has no momentum in any direction. The Moving Averages appear to be reversing, the 10 is between both the 35 and the 50.
____________________________________________________________________________________________

Quoting eclayf


Refer to second picture.


There is no real "filter" I know of in areas where price is slowing, other than the fact that the 35/50 lines are starting to separate. The more they separate, the less I look for trades that "continue" the original trend and the more careful I get about "perfect" entries to mitigate risk.

One of the things that makes for a really strong Touch trade for example is a very long bar that races back to "touch" the 35 or the 50. The longer that bar is (except at news times) the more likely it will be to bounce off and race back the opposite direction creating a very powerful "touch trade" with the SL extremely low in the trade's start.

The shorter that last bar is, the more likely it is to "blow through" the line and go to the next one.

I have taken a bit of time to mark up again your previous image with the numbers on it so this makes a bit more sense.

Points 1,2 and 5 all had short bars that "wicked through" or "blew through" the 35 even though they did result in decent trades. On each of them I would have hesitated a bit and waited a few moments at least to get a better "feel" for how price is going to move.

Point 6 is pretty much the same thing and I would have stayed away for a few reasons. Price has already shown it's sideways movement, and the fact that there is a strong resistance level not too far above. The fact that the last two bullish bars above it and between 5 and 6 also tell me that price is at least trying to reverse a bit here, so then the "washed out" nature of the 35 would have kept me out and made me wait even more.

I would actually be thinking of a short in this area, but "by the rules" I do NOT take shorts ever while the 10 is above the 35, at least almost never unless it is a "re-test" entry indicating that the "short" or "long" from previous S/R is going to continue.

Then there is point 7, which has a perfect bar setup. Two bars, long last bar, has almost NO wick on it. Not really a touch trade, but very close and then there were two bars indicating further downward pressure and I actually took that trade when the second bearish bar couldn't break the 40 and I waited after it "wicked through" it for it to retrace back up THE SAME bar to near the 50 and entered there with about a 7 pip SL. I was considering it more of a constrainment trade than a touch trade.

I WILL NOT chase a trade, it never works out well for me.
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  • #6
  • Dec 1, 2013 7:22am Dec 1, 2013 7:22am
Alright.... the Dance stay relevent all the time, so let's see... we could make some money with it. Posting trades and charts will enhance the learning for all of us here...! r we not supposed to make improvements or suggestions? which may ease the process.. or make more pips???
  • #7
  • Edited Dec 2, 2013 6:41am Dec 1, 2013 9:35am | Edited Dec 2, 2013 6:41am
Hi vinforex7

when i first saw the dance method couple of years ago, i could not trade it consistently to the 'C'.

stage 1 : you begin learning about trading a market, technical analysis catches your attention & you are in finding a 'suitable ' TA strategy for yourself doing endless hours of research.


stage 2 : after failing in EVERY strategy for a couple of years, you start blaming smart money (big institutions, banks etc), brokers, news, technical anaylisis. you may or may not move to fundamental analysis. some more time is wasted.

stage 3 : you have lost all faith in trading & trades go against you the moment you enter them & it appears brokers are taking opposite trades to make you loose even if its an ECN (only exception is a market maker whose primary job is to take opposite trades to make a market when it goes slow, you can stick with a good ECN)

stage 4 : if you have the strength to continue, you read about every strategy & indicator known to man & you are not willing to give up as other few have been minting money using TA though you're aware there are only FEW.

stage 5 : you witness the most important realization . . all this time it was YOU, YOU & ONLY YOU !!!
it means YOU were not able to stick with ONE profitable strategy & YOU failed to realize that the win:loose percentage will vary because of YOUR PSYCHOLOGY towards trading & YOUR strategy & the market YOU are trading. YOU failed to realize that markets trade in cycles of not only up & down but sideways as well still you never stayed flat (out of a position) & YOU didn't know WHEN TO TRADE because all this time you were just looking at red & blue arrows going up & down. for the first time, you start watching the biggest indicator of all known as price.

stage 6 : your charts are clean & simple & you have decided to stick with one strategy for the rest of your life with VERY FEW INDICATORS, if at all (you can also trade naked charts) . you start watching price very closely for hours without initiating a trade. you stick with the rules & you start seeing green pips almost immediately after entering trades. you realize, how important was PSYCHOLOGY all this while but you never mastered it & other areas of trading as you were busy in previous stages involving just one area of trading known as TA.

i consider following to be the appropriate order :-

a) PSYCHOLOGY
b) DISCIPLINE
c) MONEY MANAGEMENT & RISK MANAGEMENT
d) TECHNICAL ANALYSIS

stage 7 : you are consistent with the TA approach - you gained discipline. there are absolutely no doubts about entries & exits - you understood what role PSYCHOLOGY plays before, during and after entering & exiting trades.

you are about to quit demo after further few months of success on paper trading & you open a LIVE account.

stage 8 : you are back to paper trading as you violated many parameters which you kept in mind in DEMO & it didn't mattered much as you were trading with fake $$$.

real account, realtime is the real test of emotions (psychology) & other things & hopefully you repeat stage 7 in your real LIVE account trading.

what do you say now after reading this & which stage are you in, think for a while !

.Hawk.

P.S :- sorry about the long speech, this thread was opened because of someone trying to incorporate something new on dance charts. although it may work for them personally, but it is very confusing for MANY & it breaks the discipline on trading something consistently.

Quoting vinforex7
r we not supposed to make improvements or suggestions? which may ease the process.. or make more pips???
  • #8
  • Dec 1, 2013 10:09am Dec 1, 2013 10:09am
btw this thread as same as http://www.forexfactory.com/showthread.php?t=236210
why do you create another one?
  • #9
  • Dec 1, 2013 11:18am Dec 1, 2013 11:18am
if you . r e a d. the end of last post and the other thread you would understand.

no off topic posts, please !

Quoting edoho
btw this thread as same as http://www.forexfactory.com/showthread.php?t=236210 why do you create another one?
  • #10
  • Dec 2, 2013 1:40am Dec 2, 2013 1:40am
Hi Hawk

Thanks for restarting the dance.
When all conditions are met - Enter trade - sit back and FRET !!!
  • #11
  • Dec 2, 2013 2:21am Dec 2, 2013 2:21am
I like this approach. I wil follow closely.

  • #12
  • Edited 7:30am Dec 2, 2013 6:25am | Edited 7:30am
two bar touch trade off 10 EMA on M15

eurusd
sell 0.1 @ 1.35457
sl - tp - 9 pips

trade was initiated in the first pic where second retrace candle had just touched 10 EMA.

update : in the middle of trade, pic 2 . seems like a 'close to perfect ' entry (perfect two bar touches of 10 are rare), second retrace candle pierced through the 10 EMA by 2 pips and closed. price seems to be hesitant in going up.
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  • #13
  • Dec 2, 2013 6:32am Dec 2, 2013 6:32am
Hawk... thanks for the detailed reply. Will try to contribute to the thread.. and will try to stick to the rules...!


let's rock buddy....!
  • #14
  • Dec 2, 2013 6:39am Dec 2, 2013 6:39am


Quoting vinforex7
Hawk... thanks for the detailed reply. Will try to contribute to the thread.. and will try to stick to the rules...! let's rock buddy....!
  • #15
  • Edited 7:26am Dec 2, 2013 6:54am | Edited 7:26am
BE done

price taking more time than i expected to hit my TP, new york open on next candle, hence BE done to be on safer side.

trade running at + 2 pips since sometime now

Quoting .Hawk.
two bar touch trade off 10 EMA on M15

eurusd sell 0.1 @ 1.35457
sl - tp - 9 pips

seems like a 'close to perfect ' entry (perfect two bar touches of 10 are rare), second retrace candle pierced through the 10 EMA by 2 pips and closed. price seems to be hesitant in going up.
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  • #16
  • Dec 2, 2013 7:10am Dec 2, 2013 7:10am
TP of 9 pips moved ahead by ANOTHER 5 pips at new york open candle while BE remains

i intend to stick with a stoploss, take profit of 9 pips as it WORKS & it helps when you are starting to master a specific style of the dance.

for this particular trade, i wanted to fetch more pips as the current candle of new york open is showing some love... let's see whether the love is pure or will ditch me at BE.

Quoting .Hawk.
BE done.

price taking more time than i expected to hit my TP.

new york open on next candle, hence BE done to be on safer side. trade running at + 2 pips since sometime now
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  • #17
  • Dec 2, 2013 7:15am Dec 2, 2013 7:15am
+ 14 pips
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  • #18
  • Dec 2, 2013 8:10am Dec 2, 2013 8:10am
Have just read your pdf, need to read it a few times over to fully grasp it but am very excited about trying it out...Attached is a GBP/USD trade, would you have classed this as a signal ( I know it worked out, but just wanted to know how you rated it as a signal)

Many thanks,

Am really enjoying your thread

Gareth
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  • #19
  • Dec 2, 2013 11:39am Dec 2, 2013 11:39am
hi gareth

i would like to clarify that the concept of ' the dance ' & the pdf belongs to Clay (user name : eclayf).

he is no longer active on this forum (officially atleast) but his teachings are being followed by many & this method WORKS. if you devote yourself wholeheartedly, you will reap consistent results, sooner or later.

i am mastering touch trades & trading bounces off MA's for the next 2-3 months & i trade just one pair EURUSD.
similarly you can pick one approach - constrainment or touch trades & master it on ONE pair for couple of MONTHS.

i have gone through the constrainment concept in general but i will become proficient in it once i start taking constrainment trades regularly.

IMHO, constrainment trades taken off 10 EMA are generally weak & the ones taken against 35 are much stronger....... your signal is fine as 3-4 small bars formed against 10 EMA restraining price to go any higher & 10 EMA was below 35 & 50 MA's at that time.
35 / 50 were almost on top of each other depicting a strong trend in place or one about to arrive anytime soon.

not bad !!
kindly pick one concept in the manual & study it thoroughly, practice it on demo for a week & post your queries.

regards

.Hawk.

Quoting Gareth22
Have just read your pdf, need to read it a few times over to fully grasp it but am very excited about trying it out...Attached is a GBP/USD trade, would you have classed this as a signal ( I know it worked out, but just wanted to know how you rated it as a signal) Many thanks, Am really enjoying your thread Gareth
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  • #20
  • Dec 2, 2013 12:34pm Dec 2, 2013 12:34pm
hi jackub

1. i like your name as one of my close friend's name is jacob
2. kindly refrain from posting articles

thank you.

Quoting Jackub
found on FF some years ago....
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