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Mastering the Art of Trading

  • #1,181
  • Edited 8:31am Feb 12, 2014 6:35am | Edited 8:31am
Quoting francis3388
{quote} Mr Weiss, may I know the light green color MA/EMA line, in your EUR/NZD DAILY chart, what is the setting like, parameter , H, L CLS, thank you. Its a nice Chart... happy trading, thank you in advance. I trust there are traders who would like to know the settings as well.. Bye
Hello Francis

This lime green line, i call it the simple 7 (SMA 7 median price HL/2). But this line comes form my personal trading style . Please ignore it. I don't will bring in here other stuff, garbadge, wonder systems and magic SMA lines The rules for this thread are set by Ghous. And they are very powerfull, If you understand market strukture and Support & Resistance you need no additional lines, indicators or what else.
  • #1,182
  • Feb 12, 2014 10:43am Feb 12, 2014 10:43am
Pytam o zdanie [attach] 1367887 [/ attach] [attach] 1367888 [/ attach]
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDSGD.png Size: 43 KB
Click to Enlarge Name: NZDCAD.png Size: 33 KB
my dream Australia.....
  • #1,183
  • Feb 12, 2014 9:21pm Feb 12, 2014 9:21pm
Quoting smash85
hi together, through some trading research, I found this thread. I was a member in James16 private group and will post some of my trades/backtests in this thread. I hope, we will exchange a lot of knowledge and become better and very successful traders - anyone in this thread. Thanks in advance to ghous for this simple, yet effective trading approach! I attached an image with a demo trade. Are my considerations true? {image}
Hey Smash,

Welcome here,

Yes that looks like a good way to be breaking down a trade plan. Since you've had an exposure of the James16 material you should enjoy this.

g.
I believe . . .
  • #1,184
  • Feb 12, 2014 9:47pm Feb 12, 2014 9:47pm
Quoting MrWeiss
Hello Trades. Yesterday i remember one of my trades in Oktober 2013. I've testing my strategy under market conditions on a demo acount after backtesting. My strategy was based on PA S&R and TDI indicator. I will not bring in here other stuff and garbadge systems - BUT independent on the system it is in the end a view from a other angle on the same thing. I trade more konservative and entred a reversal at the 2 or 3th Candle in daily charts. My stops was therefore 100 Pips or more away. And here is the point where "Mastering the Art of Trading" jumps...
Hey W,

There is no secret to the reliability of pin bars at crucial support and resistance areas. That's what the J16 material pivots at so yeah reading the J16 thread will surely assist you big time in taking your beliefs further.

Regarding the chart you posted, the green line you drew is close to the LLS that we use. and the last touch is actually not a fake out but a delayed pull back to the established LLS, which BTW is also tradable.

Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.png Size: 45 KB


Regarding your trade, given that you were'nt into fake outs (I assume) back when you took this trade, I am not really sure what to say except that only you would know whether you got lucky or not. The answer would lye in your recalling of the reasons why you entered the trade in the first place. You seemed to have identified a support area which is good but was the trigger the most ideal given the method you were trading back then? Only you are qualified to answer that of course.

Also, if you read through the J16 thread, you'll see how instead of blindly placing long term take profits we "prefer" to manage our trades through the immediate trouble areas and at least take a very good note of how price reacts at them. In many ways the outcome of a trade is unknown until price moves and unfolds in the areas we expect it to initially reach. So for example in this case, instead of eyeing at a 500 pip runner here, if I was in this, my eyes would only be drawn to the consolidation box above and how price was going to react as it made it into the box. As is blew through, the expectation would be for price to head for the next major level and provide a break of it too (to enable me to stay in), it pretty much held at the second trouble area, and that would marked an exit for me somewhere during the pull back. It does look like you gave up some serious bit of profit there possible in an attempt to hold the trade long term so it could make it to the 500 pip mark. PA equips you with the knowledge to decode the market at various nodes and you should use that to manage your trades more effectively instead pf playing the hoping game. My two cents of course

Attached Image (click to enlarge)
Click to Enlarge Name: chart 2.png Size: 58 KB


g.
I believe . . .
  • #1,185
  • Feb 12, 2014 10:01pm Feb 12, 2014 10:01pm
Quoting darko40
Hello, my first post in the topic, at the beginning of congratulations that you so much want to know is shared, read, read and ask for your assessment of the potential sell-play, BRN HHR 140.0, 61.8 Fibo.Fake, and that if the candle closes the FTA or the area we have a signal to sell? sorry for my English, which is translated by Google.{image}And now I play something like{image}
EJ would be a toughy for me because the HHR itself is pretty minor. It lines up (sort of) with the 140 BRN so that would certainly lend some strength to it, but still wasn't going to pass through my filters. Also headed into a PPZ I'd like to be weary off.

Point being, I am normally not looking at trades where the HHR isn't very prominent.

Attached Image (click to enlarge)
Click to Enlarge Name: ej.png Size: 48 KB


And that second trade was a blast! Nice one

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.png Size: 52 KB


g.
I believe . . .
  • #1,186
  • Feb 12, 2014 10:03pm Feb 12, 2014 10:03pm
Quoting francis3388
{quote} Mr ghous, may I know the MA line you used in the EUR ___ H4 chart, what is the ma /ema setting, thank you.
Hey F,

I use the 150 EMA and have recently added the 365 EMA too. They are no big deal really. I use them for confluence.

g.
I believe . . .
  • #1,187
  • Feb 12, 2014 10:14pm Feb 12, 2014 10:14pm
Quoting darko40
Pytam o zdanie [attach] 1367887 [/ attach] [attach] 1367888 [/ attach] {image} {image}
USD/SGD is very tight for me. I am cringing at the sight of those former bar closes lining up that close.

NZD/CAD too, I wouldn't rule out the PPZ underneath just yet. Probably a delayed entry till we at least close past this PPZ sounds better to me.

Attached Image (click to enlarge)
Click to Enlarge Name: usdsgd.png Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad.png Size: 36 KB


g.
I believe . . .
  • #1,188
  • Edited 1:35am Feb 13, 2014 1:13am | Edited 1:35am
Ghous-Thank you very much for your reply, much explains and confirms me in the direction taken is ok
Attached Image (click to enlarge)
Click to Enlarge Name: ws.png Size: 40 KB

Looking for this indicator, RN
my dream Australia.....
  • #1,189
  • Feb 13, 2014 6:30am Feb 13, 2014 6:30am
Quoting MrWeiss
{quote} Hello Francis This lime green line, i call it the simple 7 (SMA 7 median price HL/2). But this line comes form my personal trading style . Please ignore it. I don't will bring in here other stuff, garbadge, wonder systems and magic SMA lines The rules for this thread are set by Ghous. And they are very powerfull, If you understand market strukture and Support & Resistance you need no additional lines, indicators or what else.

Hello, Mr Weiss, your reply duly noted. Thanks for your speedy response & appreciate your honest contribution & sharing. Thank you again... Happy trading & wish you success in forex trading. Bye...
  • #1,190
  • Feb 13, 2014 9:26am Feb 13, 2014 9:26am
Quoting ghous
{quote} Hey W, There is no secret to the reliability of pin bars at crucial support and resistance areas. That's what the J16 material pivots at so yeah reading the J16 thread will surely assist you big time in taking your beliefs further. Regarding the chart you posted, the green line you drew is close to the LLS that we use. and the last touch is actually not a fake out but a delayed pull back to the established LLS, which BTW is also tradable. {image} Regarding your trade, given that you were'nt into fake outs (I assume) back when you took this...

Thx 4 your effort Ghous.

I guess traders like you, who had to go through the same learning process, know how valuable this response is for me.

Thanx a lot.
  • #1,191
  • Feb 16, 2014 2:18pm Feb 16, 2014 2:18pm
Hi Ghous,
Is this similar to what you are doing and may, therefore, add to your discussion?

http://www.trading-naked.com/2b-reversal.htm
every Saint has a past. Every Sinner has a Future
  • #1,192
  • Feb 17, 2014 9:01am Feb 17, 2014 9:01am
Ghous,

i'm new to the thread but i really dig the simplicity of your approach. Let me go through your youtube resources and then i'll start demoing your approach!

Great info!

Cheers!
  • #1,193
  • Feb 18, 2014 10:20am Feb 18, 2014 10:20am
Beautiful Fakeout scenario
Attached Image (click to enlarge)
Click to Enlarge Name: Fakeout_Scenario.png Size: 24 KB
You trade what you believe..
  • #1,194
  • Feb 18, 2014 9:25pm Feb 18, 2014 9:25pm
Quoting turnip15
Hi Ghous, Is this similar to what you are doing and may, therefore, add to your discussion? http://www.trading-naked.com/2b-reversal.htm
Hey T,

In general yes, I think the idea is the same, but he has systematized it slightly differently . . .

g.
I believe . . .
  • #1,195
  • Edited Feb 23, 2014 1:08am Feb 22, 2014 11:49pm | Edited Feb 23, 2014 1:08am
Aud/Cad daily chart looks like a fake out setup and rejected from HHR and also BRN but price didn't close below the FTA. So Ghous how will you play with it?
Attached Image (click to enlarge)
Click to Enlarge Name: audcaddaily.png Size: 42 KB
  • #1,196
  • Edited 9:11am Feb 23, 2014 9:00am | Edited 9:11am
Quoting zohaib
Aud/Cad daily chart looks like a fake out setup and rejected from HHR and also BRN but price didn't close below the FTA. So Ghous how will you play with it? {image}
I won't.

Price is boxing here and the pin bar (fake out bar) is headed straight back into a box. Not the kind of situation that would attract me. I do like the location though, just that the space here isn't too appetizing for me.

Attached Image (click to enlarge)
Click to Enlarge Name: audcaddaily.png Size: 47 KB


g.
I believe . . .
  • #1,197
  • Edited 12:38pm Feb 23, 2014 12:07pm | Edited 12:38pm
Quoting ghous
{quote} I won't. Price is boxing here and the pin bar (fake out bar) is headed straight back into a box. Not the kind of situation that would attract me. I do like the location though, just that the space here isn't too appetizing for me. {image} g.
Hey G,
i agree with your views.
what are your thoughts on GBPCAD Daily fakeout-PB setup,the setup looks attractive,just that G/CAD is in a strong uptrend mode.FTA,which is sitting right at its nose can be a spoiler too.Me thinks,if it breaks the FTA,it can be tradeable setup.Currently i am in wait & watch mode and would like to see more PA to develop.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_Daily_Pin.png Size: 25 KB
You trade what you believe..
  • #1,198
  • Edited 12:31pm Feb 23, 2014 12:14pm | Edited 12:31pm
Fakeout setup i took last week.It was a planned short term trade and booked profits as per the Daily TF trouble area.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD-H4-19-04-2014.png Size: 32 KB
You trade what you believe..
  • #1,199
  • Feb 24, 2014 1:07am Feb 24, 2014 1:07am
Quoting Slecent
{quote} Hey G, i agree with your views. what are your thoughts on GBPCAD Daily fakeout-PB setup,the setup looks attractive,just that G/CAD is in a strong uptrend mode.FTA,which is sitting right at its nose can be a spoiler too.Me thinks,if it breaks the FTA,it can be tradeable setup.Currently i am in wait & watch mode and would like to see more PA to develop. {image}
Totally agree A,

I am not to happy about that minor flip sitting just underneath that low of the pin bar / fake out bar.

g.
I believe . . .
  • #1,200
  • Feb 24, 2014 1:10am Feb 24, 2014 1:10am
Quoting Slecent
Fakeout setup i took last week.It was a planned short term trade and booked profits as per the Daily TF trouble area. {image}
Brilliant!

Notice how the swing low you used as your LLS, lines up as a bigger PPZ. That's confluence baby and that makes a dolly. Nicely done

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD-H4-19-04-2014.png Size: 34 KB


g.
I believe . . .
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