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Trading from an Experienced and Successful FULL TIME Trader

  • #401
  • Dec 19, 2013 1:53am Dec 19, 2013 1:53am
Please be specific i want to understand clearly when u mention Rules and Position
  • #402
  • Dec 19, 2013 5:34am Dec 19, 2013 5:34am
Rules lack to get out of the position condition, what time to get out of the position, which is the key to the problem
  • #403
  • Dec 19, 2013 9:48am Dec 19, 2013 9:48am
you and Watchtradefx both miss the point.

this thread is NOT about the system. it is about how to READ the market

about "WHY the market moves like that", not about X pips tp or sl. and the latter is extremly unimportant, imo.

Quoting ww998866
Rules lack to get out of the position condition, what time to get out of the position, which is the key to the problem
  • #404
  • Dec 19, 2013 4:30pm Dec 19, 2013 4:30pm
doriot,

here is another setup I was looking at yesterday. What do you think?

Cheers.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-15m.png Size: 81 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-30m.png Size: 79 KB
  • #405
  • Dec 19, 2013 5:13pm Dec 19, 2013 5:13pm
Quoting johnnyboom
doriot, here is another setup I was looking at yesterday. What do you think? Cheers. {image} {image}

I took that same set up for my first trade with this method. It got about a 2:1 return if you sold near the previous high.

This is a great thread. I'm looking forward to getting myself involved.
  • #406
  • Dec 20, 2013 1:16am Dec 20, 2013 1:16am
Watching CAD/JPY M-15
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpym15.png Size: 71 KB
  • #407
  • Dec 22, 2013 2:39am Dec 22, 2013 2:39am
Hello, I want to ask about Fridays trade.
It's USDCAD.
In H1 Time Frame I found support and resistance. Trend is up and coral is green. There is no Bollinger Bands confirmation. Here is a chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 60 KB

The next higher Time Frame is H4. Coral is green also. There is no Bollinger Bands confirmation. Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh4.png Size: 57 KB

The signal Time Frame is M30. Coral is RED- against the trend. There is a 50 period Bollinger Bands confirmation. There were lots of time to enter in this trade. From the chart we see that price was going sideways until US session open and the high impact news for CAD. So news influenced this big move. So what do you think about this trade, is this trade is high probability or just a luck? Also, in this example signal TF showed that coral is red and it is against trend, is coral always must be in trend direction on the signal TF or it is not so important? In TF where we find support and resistance and higher TF the coral and trend must agree with each other. So what about lower TF? Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm30.png Size: 53 KB

On holidays I am going to back test this strategy and get more confidence. So if something don't be clear I will ask here.
Thanks, and happy Christmas and holiday time.
  • #408
  • Dec 22, 2013 2:04pm Dec 22, 2013 2:04pm
Quoting ww998866
Very good article, simple method, strong operability, and my system somewhat similar. It is especially pointed out the callback when the end of the problem. One thing did not understand the rules, you did not say out under what circumstances positions. Please advice. Thank you.
i will normally scale out at various areas of resistance. if the area is a very strong area i will likey bail on the entire position, especially if the market is struggling or I have reached at least 1:1 risk to reward...ill try to address more of this in the future
  • #409
  • Dec 22, 2013 2:05pm Dec 22, 2013 2:05pm
Quoting charvo
you and Watchtradefx both miss the point. this thread is NOT about the system. it is about how to READ the market about "WHY the market moves like that", not about X pips tp or sl. and the latter is extremly unimportant, imo. {quote}
well said charvo! FF moved this thread from systems because they realized it is not exactly a system, but rather how to actually read the market, PROFITABLY.
  • #410
  • Dec 22, 2013 2:06pm Dec 22, 2013 2:06pm
Quoting Alonedevils
{quote} Great Strategies ... How This Strategies When News Coming ??
i do recommend NOT trading around major news releases such as FOMC, when draghi speaks, and NFP. Unemployment rates in other nations than AMerica often rocks their currency pairs too so be cautious of that. if im in a position i will place a breakeven stop if I am ITM
  • #411
  • Dec 22, 2013 2:08pm Dec 22, 2013 2:08pm
Quoting IenDzi
Hello, Doriot. Today I want to ask about this trade, what are your opinion, what is wrong, or what is good about it. It's GBPUSD. On M15 there are a lot of tests, so it's important support/ resistance. Coral red, so our trade goes with trend. {image} Higher TF M30. Here coral is just change a color in red. {image} And signal TF M5. Coral acts like support too. {image} Thanks.
the first trade off of that major s/r at the top is best...the trade at the bottom i would not have taken only because you are looking at support on a 5m ...remember the best support is mulitple hits off of a higher tf such as the one hour...of course if u want to trade support off 15m you may but there is def additional risk involved
  • #412
  • Dec 22, 2013 2:09pm Dec 22, 2013 2:09pm
Quoting jeetvirk
Hi Doriot thanks for the wonderful Strategies, i am still reading the tread what ever knowledge i got from the tread so far and i applied it on the USD/CHF pair last nite i was watching it (Chart attach) market did the same what u were telling us in your strategies.. thanks again.. {image}
good work!
  • #413
  • Dec 22, 2013 2:14pm Dec 22, 2013 2:14pm
Quoting johnnyboom
doriot, here is another setup I was looking at yesterday. What do you think? Cheers. {image} {image}
Excellent!~ I really like those because you are trading with the trend and that is a VERY good support area (multiple hits)...but thats not the only reason why I like it...the big reason is you are also hitting the trendline for a third time (these are very powerful set ups...horizontal support + trendline hit!)...i will say that the market bounced off of that area once already so there is a little additional risk but with all other factors being weighed in...it looked like a really good trade set up.
  • #414
  • Dec 22, 2013 2:15pm Dec 22, 2013 2:15pm
Quoting BenHux
{quote} I took that same set up for my first trade with this method. It got about a 2:1 return if you sold near the previous high. This is a great thread. I'm looking forward to getting myself involved.
fantastic!! that makes me super happy!!!
  • #415
  • Dec 22, 2013 2:16pm Dec 22, 2013 2:16pm
Quoting jeetvirk
Watching CAD/JPY M-15 {image}
This was actually AMAZING support and we did get an intial bounce of about 20 pips here but you would NOT HAVE TAKEN THE TRADE....there was red tag news and this area got slammed into...remember slow moves to support are best and NEVER initiate a trade into major news...unless you are ready to assume the risk and get whipped out only to see your trade go in your direction many times...lol
  • #416
  • Dec 22, 2013 2:19pm Dec 22, 2013 2:19pm
Quoting IenDzi
Hello, I want to ask about Fridays trade. It's USDCAD. In H1 Time Frame I found support and resistance. Trend is up and coral is green. There is no Bollinger Bands confirmation. Here is a chart: {image} The next higher Time Frame is H4. Coral is green also. There is no Bollinger Bands confirmation. Chart: {image} The signal Time Frame is M30. Coral is RED- against the trend. There is a 50 period Bollinger Bands confirmation. There were lots of time to enter in this trade. From the chart we see that price was going sideways until US session open...
I actually took this trade....and got in a few pips from the bottom and watched it rally up during frankfort open...place a breakeven stop...watched it hit my stop and then take off just before CAD news at the NY open...GREAT GREAT TRADE SET UP and pretty good support and many many arrows...even some divergence with the trend arrows...i was anticipating a move to the highs..which we saw...but again i got stopped out as i placed a breakeven stop in and went to bed I did this because i already had some other cad trades open which did go to target and i may place those on here when i get time!
  • #417
  • Dec 23, 2013 3:26am Dec 23, 2013 3:26am
Very good thread, thank you doriot !! I like this method because it's clear and simple. I have two questions :
1. It's clear to decide when to enter but how i decide when to get out ?
2. Can I use it on 5min chart because I don't keep orders overnight (I want to sleep nicely) .

Thanks again for teaching us .
  • #418
  • Dec 23, 2013 7:18am Dec 23, 2013 7:18am
Hi All, i am looking for Short entry at M-15 , Corol Red on M30, 1H, 1st Test of S/R, Corol is also acting as support @15M.
  • #419
  • Dec 23, 2013 7:22am Dec 23, 2013 7:22am
Quoting jeetvirk
Hi All, i am looking for Short entry at M-15 , Corol Red on M30, 1H, 1st Test of S/R, Corol is also acting as support @15M.
sorry forget to attach chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadh1.png Size: 81 KB
  • #420
  • Dec 23, 2013 1:40pm Dec 23, 2013 1:40pm
I know its nearly Christmas but there is a great set up happening right now on the GBPAUD 4 hour chart. Price is at great support AND the moving average. I've gotten some entry signals on the 30 minute yet although no 1 hour yet. The THV is starting to turn green on the 4 hour so def something to watch here. THV is in way oversold territory as well so should be interesting if the lack of trading volume doesnt get in the way.
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