Trading from an Experienced and Successful FULL TIME Trader | Page 23 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a full Time Trader Or Part Time? 32 replies

Full-time student, Part time trader 7 replies

from retail trader to full-time trader 17 replies

Experienced Coder/Trader Needed to Develop Trading Strategy 0 replies

Attachments: Trading from an Experienced and Successful FULL TIME Trader
Exit Attachments

Trading from an Experienced and Successful FULL TIME Trader

  • #441
  • Dec 27, 2013 6:07am Dec 27, 2013 6:07am
Quoting doriotcapita
{quote} 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...
Thanks for the input.
I have spent the day getting my head around around your "system".
I am impressed and will implement it trading on day charts which probably means being pretty patient waiting for setps - paticularly with the S and R, the break of the level and a retest.
It brings together a lot of elements I have gleaned from others over a year or so and I look forward to giving it a good shot.
  • #442
  • Dec 27, 2013 8:13am Dec 27, 2013 8:13am
Quoting Intrepidpips
I'm having fun here, this is like babypips.com on crack LOL As I'm still studying this system for now i took a trade in CABLE and seems the HTF approach is starting to kick in, getting some bang for my bucks heh heh. I looked up the EURNZD Sset-up DC talked about here's how I saw it did not need to go higher than H1 to spot the support but some others may have their own twist to the play. {image}
Hi,
I have Download your Template Zip file and install in MT4, but the Time Display is not working.
How to I fix it to reflex the correct time?
THKS
All Happy
  • #443
  • Dec 27, 2013 5:48pm Dec 27, 2013 5:48pm
Quoting allhappy
{quote} Hi, I have Download your Template Zip file and install in MT4, but the Time Display is not working. How to I fix it to reflex the correct time? THKS All Happy
Those are labels from an unrelated indicator he used. Just go to Charts>Objects and delete them. Save the template again. If you need a session indicator, search the forum. It is readily available.
  • #444
  • Edited Dec 28, 2013 3:16pm Dec 27, 2013 7:24pm | Edited Dec 28, 2013 3:16pm
Attached Image (click to enlarge)
Click to Enlarge Name: THV gbpusd trade_H4.jpg Size: 120 KB

H1, H4, D1 are still in green Coral. Support found in H4.
A potential buy entry in M30
Attached Image (click to enlarge)
Click to Enlarge Name: THV gbpusd trade.jpg Size: 92 KB

Am I seeing it right?
By the way, this is the nicest system I have read in the whole forum.
  • #445
  • Dec 27, 2013 10:23pm Dec 27, 2013 10:23pm
HI Doriotcapita,
I hereby attached picture of my long entry. I follow your method. Is this the correct Entry for Long?
I notice that The Price has bounce off from the Support (daily) and Double Bottom has been formed.

By the way, I just bump into this tread a few days ago. I've been learning and trading
for almost 4 yrs and getting no where. I really appreciate what you are sharing with
us.
Thanks
AllHappy
( English is my second language, Forgive me ,if my writing not perfect).
Attached Image (click to enlarge)
Click to Enlarge Name: xagusddaily.png Size: 36 KB
  • #446
  • Edited Dec 28, 2013 5:34pm Dec 27, 2013 11:18pm | Edited Dec 28, 2013 5:34pm
Quoting allhappy
HI Doriotcapita, I hereby attached picture of my long entry. I follow your method. Is this the correct Entry for Long? I notice that The Price has bounce off from the Support (daily) and Double Bottom has been formed. By the way, I just bump into this tread a few days ago. I've been learning and trading for almost 4 yrs and getting no where. I really appreciate what you are sharing with us. Thanks AllHappy ( English is my second language, Forgive me ,if my writing not perfect). {image}
Your trade is against the trend. You need other signs of uptrend or strong support. Many times counter trend trades do work. Post $431 for GBPSUD was a good exception to the rules.
  • #447
  • Dec 29, 2013 11:08am Dec 29, 2013 11:08am
Hi DC,
I am an experienced trader of 7 yrs. Been lurking around FF all these yrs without even registering but is drawn by ur system and lucid explanations. My own system was developed from the WMD thread here at FF. Both systems are basically d same. Your vivid explanations and illustrations makes u more understandable. you are simply dishing out pure gold that is why they want to shut u up. Mark my words d harassment has not ended. But ignore them for i know your work will put food on many tables.
  • #448
  • Dec 30, 2013 11:02pm Dec 30, 2013 11:02pm
Quoting FXAction
Hi DC, I am an experienced trader of 7 yrs. Been lurking around FF all these yrs without even registering but is drawn by ur system and lucid explanations. My own system was developed from the WMD thread here at FF. Both systems are basically d same. Your vivid explanations and illustrations makes u more understandable. you are simply dishing out pure gold that is why they want to shut u up. Mark my words d harassment has not ended. But ignore them for i know your work will put food on many tables.
Very well said
  • #449
  • Dec 30, 2013 11:50pm Dec 30, 2013 11:50pm
Hello guys im a new to this tread and I am looking forward from learning from this thread. Cant agree more than what FXAction mentioned, thank you DC for your kindness sharing this system and not forgetting the lucrative explanations.

Happy trading and Happy New Year everyone.
  • #450
  • Dec 31, 2013 5:31am Dec 31, 2013 5:31am
Quoting Inthebox
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.
Hello - Great Question! As far as money management is concerned, it depends on your risk appetite. I would say 1-2% is quite sufficient, however if you are trading a smaller account and want to trade 3% I wouldnt fault you for it. I would certainly NOT be placing 1 standard per $10,000 as a rule of thumb. Remember, 1-2% should be your aim. If you are a more conservative trader you might even go with less. I have a larger account I place trades on and my risk is well under 1% and I have a small account that I created that runs 2-5% per trade (high leverage, high risk). You should always have your risk determined before entering any trade and yes, 2% IMO is sufficient, as long as your trading is profitable
  • #451
  • Dec 31, 2013 5:32am Dec 31, 2013 5:32am
Quoting andygrope
{quote} Thanks for the input. I have spent the day getting my head around around your "system". I am impressed and will implement it trading on day charts which probably means being pretty patient waiting for setps - paticularly with the S and R, the break of the level and a retest. It brings together a lot of elements I have gleaned from others over a year or so and I look forward to giving it a good shot.
Glad I can be of assistance! let me know if i can be of further help welcome to the thread.
  • #452
  • Dec 31, 2013 5:36am Dec 31, 2013 5:36am
Quoting swordfish-
{image} H1, H4, D1 are still in green Coral. Support found in H4. A potential buy entry in M30 {image} Am I seeing it right? By the way, this is the nicest system I have read in the whole forum.
Thank you for the kind words. yes, you see correctly!!! Great eye! Those are exactly the kinds of set ups you want to see. A break above resistance (after 2 or 3 hits or even more!) and then the retest and an arrow at that level. Looks like up to 60 pips from your entry were available on that. Hope you caught some
  • #453
  • Dec 31, 2013 5:42am Dec 31, 2013 5:42am
Quoting allhappy
HI Doriotcapita, I hereby attached picture of my long entry. I follow your method. Is this the correct Entry for Long? I notice that The Price has bounce off from the Support (daily) and Double Bottom has been formed. By the way, I just bump into this tread a few days ago. I've been learning and trading for almost 4 yrs and getting no where. I really appreciate what you are sharing with us. Thanks AllHappy ( English is my second language, Forgive me ,if my writing not perfect). {image}
Hello Happy! Please take note of the red coral. This indicates the trend is down and therefore you would be wanting to go short; I would therefore not take this trade. A better entry would have been IF price would have went up to about the 21.20 level (prior double bottom which broke down and now will be strong resistance.) AT that price you could have placed a short if you had an arrow because you are at significant resistance in a downtrend. Let me know if you do not understand and ill try to make it clear for you. Keep at it you will get it. I know the concept is challenging at first because new traders are use to trying to catch tops and bottoms.
  • #454
  • Dec 31, 2013 5:45am Dec 31, 2013 5:45am
Quoting FXAction
Hi DC, I am an experienced trader of 7 yrs. Been lurking around FF all these yrs without even registering but is drawn by ur system and lucid explanations. My own system was developed from the WMD thread here at FF. Both systems are basically d same. Your vivid explanations and illustrations makes u more understandable. you are simply dishing out pure gold that is why they want to shut u up. Mark my words d harassment has not ended. But ignore them for i know your work will put food on many tables.
Thanks! thats what Im here for...if they want to harrass i have my finger on the ignore button LOL. As always, thanks for the kind words. I hope i can help you become the successful trader that we all aspire to be!
  • #455
  • Dec 31, 2013 6:04am Dec 31, 2013 6:04am
If Anyone is watching the charts during the holidays theres really only one major area that Im watching that will likely cause a significant reaction so let me point it out and place a chart here. Please take special note of the chart with all the arrows. Notice we broke past the level that I have lines on which was hit as resistance twice. As we come down into this area it will act as dynamic support! Further, notice in the recent past this area also acted as support. In other words, the market has respected this level as support and resistance. for this reason, this area is a MAJOR area to watch. I will enter if I can get a 4 hour arrow at support or a couple very convincing arrows on the 1 hour chart at this support area. There was a trade that reminds me of this one last week that bounced HUNDREDS of pips and is still rising. Areas such as this (areas hit many times on both sides of the market) on the higher time frames usually create a huge reaction so if you trade this watch it! Will it come down to this area? Im not sure but its on my radar. A great potential trade and great example of the kinds of support areas you should be looking for!

Note: I also put a 4 hour chart here so you can see the massive area of support on a lower time frame. I think you will see how significant it is!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sgd4hr.jpg Size: 250 KB
Click to Enlarge Name: sgddaily.jpg Size: 257 KB
  • #456
  • Dec 31, 2013 6:34am Dec 31, 2013 6:34am
With it being a holiday week the markets have been very slow but there was one good set up on the eurnzd that I was able to catch so i want to go over this trade set up as it is a PERFECT example of what you should be looking for! Here is a couple charts and the explanation. Let me know if you need further clarity.

First of all, check out the 1 hour chart (bottom) that I have posted. I want you to see the white dotted lines and notice what a HUGE AREA OF RESISTANCE THIS WAS. I did place four circles on the chart so you can see each time the market hit this area of 1.6750. FOUR TIMES. This area has become very significant resistance and so you know when the market finally breaks through, the retest will VERY LIKELY hold up. So, upon seeing this breakout you should begin to watch for a retest and an arrow on a lower time frame (15 or 30 minute) so you can get in. On the other chart, you will see where i placed a white up arrow and THIS WAS YOUR ENTRY. (30 minute entry) Also notice the green coral was at this same level! not only that but the coral was green on the 15 and 60m. All time frames agree the market is bullish and you will be looking to go long. Notice the last swing low was around 1.6775 so that would have been an adequate stop loss. The market did move 200 pips north on this trade so you had excellent reward/risk. As always, I take profits once I reach my assigned risk (100 pips) and then take the rest off at significant support or resistance. Remember good money management!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzd30m.jpg Size: 230 KB
Click to Enlarge Name: eurnzdh1.jpg Size: 215 KB
  • #457
  • Dec 31, 2013 6:59am Dec 31, 2013 6:59am
Hello dc... I use the similar concept: using S/R and open the trade according to the trend. Just exactly like you, i want simple strategy (that suit with my style) that can use in any pairs and session.
I use GannHillo and THV trix to identiify trend, but i use Sonic's dragon wave to get the S/R. Sometimes i loose, that's trading is about. But this strategy work for me most of time.
  • #458
  • Dec 31, 2013 7:05am Dec 31, 2013 7:05am
Quoting tecnotycoon
Hello dc... I use the similar concept: using S/R and open the trade according to the trend. Just exactly like you, i want simple strategy (that suit with my style) that can use in any pairs and session. I use GannHillo and THV trix to identiify trend, but i use Sonic's dragon wave to get the S/R. Sometimes i loose, that's trading is about. But this strategy work for me most of time.
Great! keep it simple and keep your losers smaller than your winners and you will do great!
  • #459
  • Dec 31, 2013 7:54am Dec 31, 2013 7:54am
Hello DC, thank you very much for your share. Already 23 pages. I am following you from the beginning but sometimes, I am a little confused. At this point, I would be very interested to have a summary of all your guidelines given in this thread. Could you do it for us ? In any case, Happy New Year.
  • #460
  • Dec 31, 2013 7:55am Dec 31, 2013 7:55am
Quoting doriotcapita
If Anyone is watching the charts during the holidays theres really only one major area that Im watching that will likely cause a significant reaction so let me point it out and place a chart here. Please take special note of the chart with all the arrows. Notice we broke past the level that I have lines on which was hit as resistance twice. As we come down into this area it will act as dynamic support! Further, notice in the recent past this area also acted as support. In other words, the market has respected this level as support and resistance....

Hi DC, which pair are you referring to in this post?
1 trader viewing now