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Trading from an Experienced and Successful FULL TIME Trader

  • #361
  • Dec 13, 2013 11:25pm Dec 13, 2013 11:25pm
Quoting gp00053
{quote} I use to have the same problem when I first started. A friend of mine told me to first download this indicator. " ZZ_Orlovaa " You can find it with a google search. Nex start on the daily time frame and draw the high and low support and resistance lines, also any other lines you think are major. Do the same on the 4 hour change the color of the lines. Lastly same thing on 1 hour. When you are done, go back to the daily and drag and drop the indicator and then draw horizontal lines across all the tops (resistance) and bottoms (support). Do...

Thank you, I will try this method.
  • #362
  • Dec 14, 2013 2:41am Dec 14, 2013 2:41am
Quoting doriotcapita
Going to post one more trade today and explain it. Stop : 30 pips Reward: 100+ This is yesterdays USDJPY, you may see it more clearly setting up on the 30 minute but I use the 15 minute because this is where our signal is confirmed. First of all, notice the up arrows on the chart. This area is acting like support OVER AND OVER making this a VERY powerful area to watch in the future. Finally price broke down and then you see price retesting it 3 times noted by the 3 down arrows. Now Remember, we are TRADING WITH THE TREND. So, we want to make sure...

Nice It looks so easy and powerful, when you show and describe the trade.
  • #363
  • Dec 14, 2013 8:38am Dec 14, 2013 8:38am
Quoting IenDzi
{quote} Nice It looks so easy and powerful, when you show and describe the trade.
its very easy...the hard part is recognizing the trade set up when it comes...but that comes with practice!
  • #364
  • Dec 14, 2013 8:39am Dec 14, 2013 8:39am
Quoting IenDzi
{quote} Thank you, I will try this method.
Dont just try it, master it! Trying different approaches will never make anyone successful!
  • #365
  • Dec 14, 2013 9:04am Dec 14, 2013 9:04am
Here's a near perfect trade set up for the EURUSD on Tuesday. I want to draw your attention to the first blue thumbs up. This is the BEST trading set up and ill explain why....notice the two horizontal lines I have drawn in...this is prior support from the shelf that you will notice just to the left...remember, shelves are VERY POWERFUL support so this is definately an area to watch if price comes back into it!!!! Next, you have price approaching the green moving average...more support! Upon seeing that arrow thats a great spot to get in and you will see theres another shelf just below the shelf with the white lines...just below the top of that shelf would be very good for a stop loss...price should definately not come down to that area because you are MAKING HIGHER HIGHS. If it does, you will likely go lower and should be out of the trade. The stop is about 20 pips...as you can see that initial move up was 60 pips...great reward to risk here!!! the first target would have been the recent top...about 15-20 pips and remember you are in an uptrend so the likelyhood of a move higher than the last high is very likely so you should definately be saving part of your trade for a move higher. Also notice price stopped at the purple line dotted line...this is a 200 period bollinger...I sometimes use this when watching for major market reversals...a GREAT area to get out...these levels are especially effective when you have not tested them in a significant period of time (not the case here)...and when the market is at good support and resistance. I may show examples of this later....but anyways next I want you to notice the first blue arrow and checkmark...this was a DYNAMITE area to get into as well...however price came crashing into it and therefore I would not have taken it...nonetheless a great trade if you would have recongnized it...had this been a normal move down to this level i would have loved to get in and let me explain why. First you have that solid level of support because the market has now successfully tested and bounced off of it as support and resistance...not only that but the 50 period band is there at the same level...remember bollinger bands act like rubber bands in the market. Also, the thing I want to really draw your attention to is this....notice how the market has been trendingup....now normally the market would stop at the trendline and then continue up...however in this case....the market did not...it kept going....and when this happens normally the market will stop at the first major support and resistance line and then take off again....and that level in this case is the solid double white lines...this strategy works VERY WELL in most cases and many times you will see the markets resume the trend making the reward HUGE. I will try to get more examples of this in the future because it is so powerful. Its one of the things that I really watch for when im trading....Markets normally dont go straight up or down....so usually they will bounce in these areas....ESPECIALLY if there is a bollinger there or some other kind of support. Notice the bounce here was 70 pips, another great potential trade. Even at the second blue arrow the market bounced because this support level was so powerful...would I take it? absolutely not...the market was making lower highs and lower lows and the moving average was red. (still i want to point it out so you can see how powerful these areas of support can be!) hope this helps someone. let me know if you need clarity on any of it.
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  • #366
  • Dec 14, 2013 9:23am Dec 14, 2013 9:23am
Here is an example of what I was talking about in the last post. Probably as perfect as you can get I might add! This is a eurusd 4 hour chart....take special notice of the double blue up arrows. This is the area to watch! I want you to first of all notice the down arrow and purple line. Again, this is the 200 period band and remember what I said...it is often a major reversal area especially when price has not hit it in a great deal of time. This was in fact the case here and it resulted in a 200 + pip fall. Now, take a look at the support area that I have in double white horizontal lines. Notice that up until this the market was trending up very strong...and market fell a couple hundred pips to this area....now in all reality you would think the market would have bounced before this right? After all it was in an up trend!!! For this reason...when it came down to this MAJOR AREA OF SUPPORT the market was extremely overdone!!!! And like I mentioned in the last post...when you have a security trending upward...and it blows through the trendline it will normally stop at the first major area of support...this area was major because it was the last major swing low (so important!) and not only that it was respected as resistance earlier on the chart noted by the blue down arrow...now if you go back even further there was another MAJOR SWING at this level so this level was AMAZING! So for that reason alone...because the market had come straight down beyond its trendline and into this area....of major support...it should stop here...not only that but you have the 50 period band here. HOW AMAZINGLY COINCIDENTAL!!!! (not really). So, this was a crazy awesome area to get into the market...and I am almost positive you had several up arrows and divergences at this level telling you to get in on the lower time frames. Just how the market works. As you can see the move up was some 400 pips...stops could have easily been placed 50 pips below this area because that should have definately held up...and if it didnt it was going to go down down down. And remember what I said...when you have these types of set ups it is very common for the upmove to continue as it did here! Happy Trading!
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  • #367
  • Dec 14, 2013 9:35am Dec 14, 2013 9:35am
I want to show a current chart of the EURUSD so you guys can hopefully put some of this together and see why the market has reacted like it has this last week. I am by no means saying i would take a trade as that would be counter trend but you will see the power of this, especially on dual time frames. First of all, look at the daily picture here. Notice the level we are at...we are at a double top...after a pretty significant move down and then move back to this area. If this was a shallow move down in October I wouldnt have thought too much of it but because this was such a strong move down it really begs for some attention here...(thats a nugget!)....for this reason the chances of a failure are much stronger. Also notice you have the 50 and 200 bollinger bands on the daily at this same level! Those are some great confluences. Now check out the 4 hour chart...you will see the top before the reversal just happened to be the first test in a really long time of the 200 bollinger band! And boom the market started to react off of this level...so you can see you have multiple confirmations on MULTIPLE time frames...this is how you put all this together....remember, the more confirmations the better...and when you have them on multiple time frames the results are AMAZING!!!! If you can just make one good trade a day like this and win 80% with a simple reward to risk of 1:1 and risk 2% a trade you are on your way to 25%+ a month. $1000 @ 25% per month is 3 million in 3 years. DONT GET GREEDY...this is one of the keys to consistancy and LONG TERM profitability. yes, its tempting to make 50-100% a month but in the long run it likely wont work....trade small and trade happy
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  • #368
  • Dec 14, 2013 9:38am Dec 14, 2013 9:38am
I did some homework and found one trade which was two days ago. It's EURGBP. There was not divergence arrow in lower timeframes, but it was on H1 TF.
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Now I add some pairs, I was looking for major supports and resistance levels and it would be great to know your comments about it, if it is good levels and with this trading rules,we could expect the winning trades.
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  • #369
  • Dec 14, 2013 10:32am Dec 14, 2013 10:32am
Guys - I want to post some levels to watch for the upcoming week...these are areas of potential major reversals and could be highly profitable REWARD TO RISK! As always follow the rules and get in after confirmation!

AUDUSD .8850-.8900 (long)
EURUSD 1.3800-1.3850 (short)
EURUSD 1.3600-1.3650 (long)
EURUSD 1.3400-1.3500 (long)
GBPUSD 1.6200-1.6250 LONG
GBPUSD 1.6450-1.6500 SHORT
USDCAD 1.0550 LONG
USDCAD 1.0425 LONG
AUDCAD .9600 SHORT (POWERFUL AREA!)
AUDCHF .8075-.8100 SHORT
AUDJPY NOW! This is forming what looks like head and shoulders bottom and a breakout of this restraining moving average and retest could prove to be VERY POWERFUL. LONG
AUDNZD 1.1050 and 1.1200 SHORT
CHFJPY 1.1350-1.1400 LONG
EURAUD 1.5100 (MAJOR AREA) SHORT
EURCAD 1.4650 SHORT
EURCHF 1.200 (MAJOR AREA) LONG
EURGBP .8550 SHORT AND .8475
EURJPY 1.3950-1.4000 LONG
EURNZD 1.6450-1.6500 LONG
GBPAUD 1.7900 LONG
GBPCAD 1.7500 SHORT
GBPCHF 1.4400 LONG
NZDCAD .8550-.8600 LONG (MAJOR AREA)
GBPNZD 1.9500 LONG (LOOKS TO BE SETTING UP FOR A GREAT TRADE! POTENTIAL MOVING AVERAGE AND TRENDLINE CONFLUENCE!)
NZDCHF .7150-.7200 AND .7650-.7700 (BOTH MAJOR AREAS)
NZDUSD .8400 SHORT
DOW FUTURES 16050 SHORT AND 15650-15700 (MAJOR AREA!!!!!!!!)
SP500 FUTURES 1740 LONG
WTI (OIL) 95.50 LONG AND 9250 LONG

These are the MAJOR areas im watching and remember do not just take a trade because you see these areas being hit (altho they will likely bounce from these areas!) Make sure you have the proper confirmation and you are trading with the trend at that time!!!! AND PLEASE if you are struggling with support and resistance go to your 4 hour and daily charts and plot these lines so you can see why i have assigned these as major reversal areas....this is the only way you will get good at it! There have been weeks where I have seen major bounces off of 90%+ of the areas i have plotted in advance. You will see it works amazingly!!!!
  • #370
  • Dec 14, 2013 10:33am Dec 14, 2013 10:33am
Quoting IenDzi
I did some homework and found one trade which was two days ago. It's EURGBP. There was not divergence arrow in lower timeframes, but it was on H1 TF. {image} Now I add some pairs, I was looking for major supports and resistance levels and it would be great to know your comments about it, if it is good levels and with this trading rules,we could expect the winning trades. {image} {image} {image} {image} {image} {image} {image} {image}
Hey there! check out the numbers I posted just now...how ironic i started doing that before you posted this LOL
  • #371
  • Dec 14, 2013 10:35am Dec 14, 2013 10:35am
Quoting IenDzi
I did some homework and found one trade which was two days ago. It's EURGBP. There was not divergence arrow in lower timeframes, but it was on H1 TF. {image} Now I add some pairs, I was looking for major supports and resistance levels and it would be great to know your comments about it, if it is good levels and with this trading rules,we could expect the winning trades. {image} {image} {image} {image} {image} {image} {image} {image}
Okay I can see from your 1 hour charts TRULY you are a master at this already!!!! Great job!!!!! The levels i posted were from 4 hour and daily...again terrific...you have really posted some great pics with some potential huge wins!!!
  • #372
  • Dec 14, 2013 10:42am Dec 14, 2013 10:42am
Quoting IenDzi
I did some homework and found one trade which was two days ago. It's EURGBP. There was not divergence arrow in lower timeframes, but it was on H1 TF. {image} Now I add some pairs, I was looking for major supports and resistance levels and it would be great to know your comments about it, if it is good levels and with this trading rules,we could expect the winning trades. {image} {image} {image} {image} {image} {image} {image} {image}
Take a very special look at this audjpy on the hourly!!! see how we are trying to hit this moving average over and over....its like its being magnatized to it! notice the last swing low was higher...we could very well be looking at a major reversal here ESPECIALLY since we are at a major support level on the 4 hour chart! I want to see a break up and a move to at least .9300 (hopefully higher) and then a retest of support...do you see the head and shoulders bottom? if you rotate your screen a bit i think you would clearly see it...the neckline would be the last three swing highs on this chart....the right shoulder is the last low...head is the ultimate low and left shoulder is the low prior to that....the same set up appeared a few weeks ago and we saw it race up 200+ pips VERY quickly after the retest. Keep your eyes on this!!!!
  • #373
  • Dec 14, 2013 11:04am Dec 14, 2013 11:04am
Quoting doriotcapita
{quote} Okay I can see from your 1 hour charts TRULY you are a master at this already!!!! Great job!!!!! The levels i posted were from 4 hour and daily...again terrific...you have really posted some great pics with some potential huge wins!!!

Thanks, good to know this. I will watch the levels you wrote, it's really interesting.
  • #374
  • Dec 14, 2013 11:17am Dec 14, 2013 11:17am
Quoting doriotcapita
{quote} Take a very special look at this audjpy on the hourly!!! see how we are trying to hit this moving average over and over....its like its being magnatized to it! notice the last swing low was higher...we could very well be looking at a major reversal here ESPECIALLY since we are at a major support level on the 4 hour chart! I want to see a break up and a move to at least .9300 (hopefully higher) and then a retest of support...do you see the head and shoulders bottom? if you rotate your screen a bit i think you would clearly see it...the neckline...

Yes, I see this.
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In the head and shoulders pattern TP level usually is a length from neckline to the head.
I will watch this, thanks for observation.
  • #375
  • Dec 14, 2013 3:44pm Dec 14, 2013 3:44pm
Quoting doriotcapita
Here is an example of what I was talking about in the last post.....
Great work here
MT4/MT5 EAs/Indicators/Alerts coder
  • #376
  • Edited 8:51pm Dec 14, 2013 8:48pm | Edited 8:51pm
Quoting doriotcapita
{quote} Yes patience is finding the best entry. But there are times where you have to wait on the market to move after your entry. This sort of thing happens all the time and it seems if I find myself growing impatient and getting out of the trade it almost always goes to my target. Again, the reason why price didnt move initially was timing (Late NY/Early Asia). If you dont like to wait for it to move in your direction, london hours are definately when you should be trading.

Thats true although I trade the candles alone and base my entries on how they interact. Heinkin Ashi is not something I am skilled at reading so I wouldn't know what to look for.

But as regards the general point that movement can take a while after entry, one often sees the market fighting its way in one or other direction, happens all the time. But always from a level of strength (not clear often enough unless you know what you're looking for.)
The road to pipland is arduous and fraught with challenge.
  • #377
  • Dec 15, 2013 10:24am Dec 15, 2013 10:24am
Quoting IenDzi
{quote} Yes, I see this. {image} In the head and shoulders pattern TP level usually is a length from neckline to the head. I will watch this, thanks for observation.
Thanks for the chart~ You are much more skilled than I am at making these charts! Can I ask what program you are using to place your lines and those big circles?
  • #378
  • Dec 15, 2013 11:36am Dec 15, 2013 11:36am
TRADE ALERT! I am watching this NZDCHF very carefully for the week and I wanted to let you guys know about it. Here's the situation. If you look at the THVTRIX you can see as price has moved down the last 10 days or so the fast moving THV has remained GREEN and today it is trying to cross up the slow thv trix. THIS IS INCREDIBLY BULLISH. Rarely do I ever see this happen and see lack of follow through. Also wanted to point out we are on the 4 hour having a downward channel where the top has been hit 5 times! And remember, most of the time down channels break up and up channels break down. ALSO, I'm seeing divergences starting to form on the 4 hour time frame as well! Also I will note that the last swing low on Friday did not break the previous low! This too is bullish. What I want to see here is a break to the UPSIDE of this downward trendline and also the moving average which is restraining price. Once this is accomplished, I will be looking for a move back to support with a confirming arrow! This is a higher time frame move so I will not be looking for an arrow on the 15, but rather the 30 or 1 hour charts. Also, because its a higher time frame set up the potential for big pips is definately here! The last 3 times we have had a THV crossover on the daily the markets have rallied to 7700-7800 so that is a very real possibility here. Also interesting to note here is as you know many times the AUD and NZD have a bearing on each others price movement and AUD is coming into a massive bottoming area on the daily charts so if this starts to bounce soon like I expect it, it could possibly drive up both the AUD and NZD. Again, this is something im definately monitoring and remember to get in with the trend! Please keep watch and Ill try to keep you guys updated
  • #379
  • Dec 16, 2013 12:08am Dec 16, 2013 12:08am
Quoting doriotcapita
{quote} Thanks for the chart~ You are much more skilled than I am at making these charts! Can I ask what program you are using to place your lines and those big circles?
I am using MT4 platform. To draw circles I am using ellipse, you can find it: Insert-Shapes-Ellipse.
And to draw lines I am using trendlines, you can find it: Insert-Lines-Trendline. In trendline properties untick ray function, and lines will be like mine with start point and end point, if your trendline will be with ray function, it will has start point, but has no end point. Try it and will be clear. I hope it helps.
  • #380
  • Dec 16, 2013 8:39am Dec 16, 2013 8:39am
Were trading opportunities on the market today?
I found today GBPCAD.
Support and resistance on H1:
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Higher TF-H4, coral red, so the trade would go with the trend.
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And signal TF- M30:
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When we got signal arrow on M30, the price was gone a half way from support, so to have risk:reward=1:1 SL must be above the high. Will you take this trade?
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