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Learn and Share your Trades using Charts and S/D Levels

  • #41
  • Jan 7, 2014 11:16am Jan 7, 2014 11:16am
Totally agree! If the technicals goes well this could be a runner!

Extensive divergences are crossing up now and bullish!

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  • #42
  • Jan 7, 2014 11:30am Jan 7, 2014 11:30am
duke789-

Your chart is going to look different becuase I am missing data from 12/27-01/01.

But I was able to map out that zone.

Currently we do have a long term uptrend.

Price did move back far enough for a good reward and there is minimal risk.

Remember to watch 1.3675 area, you want a close above that to confirm for an uptrend in the short term.

I would monitor on your intermediate time frame if you use one.(4hr or 1hr looks like what you would use since you found the zone on the 4hr.)

What kind of exit strategy are you using if you got in this trade?

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  • #43
  • Jan 7, 2014 11:49am Jan 7, 2014 11:49am
reckon67-

Thanks for the feedback.

Your sharing will be benefical to everyone, because you have a different approach than I do.

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  • #44
  • Jan 7, 2014 12:00pm Jan 7, 2014 12:00pm
Quoting Gilamonster
reckon67- Thanks for the feedback. Your sharing will be benefical to everyone, because you have a different approach than I do. {image}
Market is still range bound and on a good support, possible wed or thursday with good volume it will go up, but that is only speculation.
  • #45
  • Jan 7, 2014 12:39pm Jan 7, 2014 12:39pm
reckon67-

Nothing wrong with being bold and decisive.

I know that as long as I trade according to my plan and revise my strategies as needed I achieve my goals.

I am comfortable with all my decisions and know that I perform to the best of my ability.(winning or losing.)

And I am fine with that.
  • #46
  • Jan 7, 2014 8:45pm Jan 7, 2014 8:45pm
Hi shifu
I want to enter trade by M5 pin bar and set RRR 3:1 to take half profit
And the rest I let it run.
  • #47
  • Jan 7, 2014 9:48pm Jan 7, 2014 9:48pm
duke789-

Which pair were you looking at on the 5 min chart? You didn't load a chart up, so nobody can see the "pin bar".

Sounds like a very strong exit strategy with a 3:1.

How will you move your stop after you take 1/2 profit?
  • #48
  • Jan 7, 2014 11:06pm Jan 7, 2014 11:06pm
Quoting duke789
Hi shifu I want to enter trade by M5 pin bar and set RRR 3:1 to take half profit And the rest I let it run.
pin bars are good to enter, but I think in M5 it appears in regular interval, specially in a range bound market, so not sure if in M5 chart 3:1 RR is possible. Interested to see the outcome
  • #49
  • Jan 8, 2014 11:21am Jan 8, 2014 11:21am
Attention Everyone-

Closed out my Aud/Usd long position.

I was not satisfied with price movement so I used a Ballistic stop on a 5 min chart to close it out with profit.

Usually I will use this when I am high on the curve because price action is lagging conviction

This is how I use it:

- You will already be in a trade.
- You will usually be high or low on the curve using a intermediate time frame(ITF).
- Switch to your short time frame(STF)
- Using the STF you will need to first see a explosive or long candle.
- After that candle closes put your stop below/above by 1 pip.
- After each candle, move your stop after it closes to 1 pip below or above.
- Your stop will be your exit.

The slides for this trade are 13,14 and15

Attached File(s)
File Type: pptx Trade Examples.pptx   641 KB | 435 downloads
  • #50
  • Jan 10, 2014 9:42am Jan 10, 2014 9:42am
Hi. EURUSD zone of yours works really well
  • #51
  • Jan 10, 2014 11:19am Jan 10, 2014 11:19am
duke789-

Thank you.

Yes I see on E/U the DZ that held strong.

It looks like you could have caught it in a couple spots.

Interesting, because when price bounces on a zone like that it will eventually break thorough.

Now if your in the trade hold it.

There is still potential.

When you start getting to the extreme Demand Zones be present, and don't forget your alerts before hand.

Long term trend is up. So count on that before you close you trade out and move that stop up properly to lock in your profits.

Be patent and disciplined.
  • #52
  • Jan 10, 2014 11:24am Jan 10, 2014 11:24am
Attention-

I have been in this trade for over 24 hours now.

I will hold AUD/USD over the weekend for a couple of reasons:\

- Short term trend has changed to up trend.
- Already in the money on it.
- Stop is at break even now.(So I won't lose anything for holding it)
- We have a very nice rally today that has created a good demand zone.

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  • #53
  • Jan 10, 2014 11:48am Jan 10, 2014 11:48am
That's very good trade AUDUSD. Thanks for your sharing.

My trade for GBPUSD H1,

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  • #54
  • Jan 10, 2014 9:31pm Jan 10, 2014 9:31pm
Quoting Gilamonster
duke789- Thank you. Yes I see on E/U the DZ that held strong. It looks like you could have caught it in a couple spots. Interesting, because when price bounces on a zone like that it will eventually break thorough. Now if your in the trade hold it. There is still potential. When you start getting to the extreme Demand Zones be present, and don't forget your alerts before hand. Long term trend is up. So count on that before you close you trade out and move that stop up properly to lock in your profits. Be patent and disciplined.
Hi Gilamonster.
I take half of profit at 1:3 RRR
And let the rest run
Thank you so much for sharing.
  • #55
  • Jan 11, 2014 4:36am Jan 11, 2014 4:36am
Hi Gilamonster, I am reading your slides
Would you mind explaining to me what is three way scale?
  • #56
  • Jan 11, 2014 6:16pm Jan 11, 2014 6:16pm
duke789-

Great to hear you are practicing and doing well.

Keep it going!

Now to explain the Three Way Scale In Entry:

- Remember I use Daily, 1hr and 5min charts most of the time(so for my scalping trades I use 30min, 5-15min and 1min charts)
- Always set alerts for a zone that you are going to use this entry type for.
- Have your Entry for your Limit and Confirmation entries set and ready(zone entry will happen as you are actively waiting for price)
- Have your Exit strategy in place, and the stop ready
- Your stop for all three entries will be the same for all using this entry strategy.
- Remamber there is a possibility that your zone entry won't get triggered because you won't have any new closes in the zone.( This is explained in more detail on the chart)

Good luck

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  • #57
  • Jan 12, 2014 2:14pm Jan 12, 2014 2:14pm
Attention everyone-

Anyone have any new setups for the week?

I am here and ready to help if needed.
  • #58
  • Jan 12, 2014 4:20pm Jan 12, 2014 4:20pm
Quoting Gilamonster
I am going to share a good majority of my trades here by posting my Before and Final chart images...
Hi Gilamonster,

Is good to meet you again on FF Really like how you trade!
I've just run into your posts today regarding some other thread, and just wanted to salute you.

Wish you a happy and successful New Year! And good luck with your thread!


Best regards,
Dragos
  • #59
  • Jan 12, 2014 5:00pm Jan 12, 2014 5:00pm
dragos-

Thank you for the salute.

I wish the same for you.

Have a very successful new year.
  • #60
  • Jan 12, 2014 9:09pm Jan 12, 2014 9:09pm
Attention everyone-

I just had a new order triggered on USD/JPY.

I thought I was not going to be present for the entry so I had a predetermined plan for an entry.

I had a D-zone on top of D-zone.

If I knew I was going to be present I would have entered using the three way scale in.

I will be adding one more thing to my trading plan.

It will say: I need to CONFIRM all of my open orders when I first open my plaform after doing my premarket routine.

Confirm means: I will make sure I am comfortable with up coming entries for their specific set perrameters for entries, stops and exit strategies.

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