Trading from an Experienced and Successful FULL TIME Trader

Looks as tho we had one hit on the 15 minute and then a sell off to the lows and then a higher high happened this morning as well. I would be quite concerned about all that as that could mean a new trend might be developing. Also keep in mind its Christmas week so i would probably not venture into any new trades especially on the lower time frames as follow through will likely be an issue...and extreme choppiness/volatility could pop up here too. Safe Trading!

Thanks Doriot for your inputs, this not a A+ kind of trade coral on Daily still Green on H4 it is just turning Red not down trend.
Did you watch CAD/JPY on H1 i missed it..

I want to know how keep any eye on all pairs. any special formula..

thanks.

LOL. nope cant catch them all! Just gotta go through your charts periodically and see whats setting up doesnt hurt to type up a note on your computer so you know what ones to watch...generally there are only a few good set ups a day IF that. Here's the thing...you are catching some...more than what most are able to do so you are on your way!

Just dropping in to say we did get a 4 hour signal on the GBPAUD....+40 pips so far. im not sure how much movement we can expect going into the holiday but stops at this point should be to breakeven if you took it. I do think its quite possible that we go to the highs as we are still making higher highs and higher lows

GBP/CHF 4H ON RADAR list..

Support and resistance is good for trade. Isn't important that H1 coral would be green too?

Hi IenDzi,

I am looking for entry based on 4H so on next time frame i.e. Daily Coral is green. If i am not wrong Rule also says this..

thanks..

Yes, I understand this. Your Timeframe, where you find supports and resistance is H4, the next time frame is 1D. And the signal timeframe will be H1 or M30.
Doriot posted this in 1 post: "You determine the trend by looking at the color of the coral. The coral should be green if you are going long and red if you are going short. The next higher time frame should match also! Otherwise you are not in a valid trend."
So, Coral must be green in H4 and D1 timeframes in this example.

Hi,
I really enjoyed all the posts of yours in which you described the use of THV System. though I haven't been able to clearly understand it so I need some guidance regarding where to download this indicator and to use in MT4 and a manual which illustrates the use of such an indicator.

all the necessary downloads are on page 1

Wanted to briefly go over this gbpaud trade since i have a little time on this cold Christmas eve morning! First of all I pointed this out yesterday and I took two separate trades and I want to show you why. Check out the first chart. Here we have some awesome support on the 1 hour...and if you actually zoom to the 4 hour you will see it even more clearly. I believe i posted that chart yesterday. Amazing shelf of support! Anyways, there was a trade set up on the 4 hour time frame with the arrow (although i got in a little before this) with a stop below the last swing low of about 150 pips. I did see a rally of about 50-60 pips in my favor on this swing before i placed a breakeven stop and then got stopped out by 1 pip before the market reversed again. That was the 4 hour trade. There was also a GREAT trade setup on the 15 minute which I show in picture 2. Same exact support area so we have established great support. Secondly, at this same area where the entry was (white up arrow) you will notice the 50 period bollinger band. This was FIRM SUPPORT. Also notice the white trendlines. I drew these in so you could see the market was starting to make slightly higher highs and slightly higher lows. THIS GENERALLY IS A BULLISH SIGN!!! For that reason I was willing to go long EVEN THO my coral was still red. This is a bit advanced but I want to share it so everyone does not get so stuck on "rules" and so narrow minded that they cant see the big picture. The reason for the coral is to give you an idea of trend...however, in this case the market was already proving itself before this lagging indicator was able to turn, so i took the trade! Remember, we are looking to see what the market is saying, not just sticking to a strict set of guidelines. This is reading true price action not a "system or rules" per say. If you are a newbie you may want to ignore this post as it may be a bit over your head. Anyways, Im looking for the market to prove its going up so because the lows and highs were moving up i was willing to take the trade at FIRM SUPPORT. Notice where the arrow was we had two thv arrows! This is a great sign! The entry was at 1.8285 and a stop of 20 pips is more than sufficient. I did exit my position at 1.8340 and 1.8350 so that is a gain of 55 and 65 pips on 20 pips of risk! GREAT REWARD TO RISK! Now I do wish to be totally transparent and say I caught this trade late because I was sleeping and got in at 1.8300 so i had about 35 pips of risk and 40/50 or reward. i did get out at 8340 because that was the last swing high and therefore resistance! I then exited the remaining at 50 because the market was struggling to go higher and I thought this may be a fake break of prior resistance...ane in fact it was...and then it headed down pretty fast into the London open. My reward to risk was Not nearly as good as what it could have been, but still a very profitable trade. As I type this we are trying to break new highs...I still believe a retest of the highs of very possible...meaning 1.8550. too bad I was stopped out on the remaining Anyways if you have questions about this please ask as always

very very nice eye on the support and resistance here...because we dont have a recent MAJOR level of support please make sure you have SOLID confirmation...such as arrows and positive divergences before you enter...I personally would not take this trade because i like to see retests of shelves and double or triple tops with the trend of course

Hey doriot, I'm a long time lurker at FF but I felt I would sign up to give props for this great thread!
I find your posts useful for broadening my scope as I trade, giving me more points of interest on my radar so to speak.
I do find your posts somewhat difficult to read because of the formatting. Maybe using paragraphs would be helpful...
But hey, it's your thread feel free to ignore.

yeah interesting thread and very concise, Anybody that is willing to share their set-up charts and comments on it deserves a benefit of the doubt.

Hi Doriot,
Great thread.
Because of old habits, lifestyle etc I prefer to trade longer timeframes.
Do you think your Moving Averages, Indicators et al work just as well looking at week day and 4 hr charts?
Thanks.

Love the input Torrent! I will definately keep that in mind. This thread is to help you guys so keep the suggestions coming! I will def work on that so its easier to understand

Thank you. I'll try to keep some of the suggestions and nice set ups coming so people can see how well this works. Happy holidays.

Hello there Andy. Price action actually works better on higher time frames; normally the problem lies in with people allowing their trades to run. Most new traders have a hard time letting winners run therefore their risk:reward is off and they have issues being profitable. Since support and resistance are more effective on higher time frames, so will this strategy be. Just remember, please get in at good prices on lower time frames..for example a 4 hour chart you should look at the 1 hour and daily look at the 4 hour...Always look to higher for set ups and lower for entries Good luck!

Hi Doriot...this is one of the very good thread I came across....BTW what are your favorite pairs or what are the most recommended pairs to trade during London times from your past experience...thks

Hi Doriot
Thank you for your time and effort in this very valuable thread. Could you explain more of your style of risk/money management? Is $10 per pip for $10,000 equity normal or is it too much, or stick to the usual 2% risk management?
Thanks again.