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Trading from an Experienced and Successful FULL TIME Trader

  • #861
  • Edited 8:54am Apr 4, 2014 8:39am | Edited 8:54am
Quoting kagbe
JPY was really fun to watch (not to trade!) during and after NFP. Changed direction like 5 times in 30 minutes
bull and bear struggling for dominance. currently looking at AUDNZD but cautious of the news coming ahead.
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  • #862
  • Apr 4, 2014 12:06pm Apr 4, 2014 12:06pm
Follow up on the NZDUSD. As I mentioned I didn't take this trade because I don't trade right before the NFP. However, I did want to follow this just to see how well the system works. I will continue testing before going live, but it looks promising.

If you took the trade at the entry candle, there were 3 possible targets that I see. The first was using the same number of pips as your SL which is the last swing low. I marked that with the blue line and that would have been hit. The second target would be the first real resistance where it came close but pulled back. The 3rd target is the major resistance if you felt this had some real legs. Since the coral turned red I likely would have taken the first tp but hindsight is 20/20.

Overall I think if you are patient and cherry pick the best set ups, this system shows some real promise.
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  • #863
  • Apr 6, 2014 9:55pm Apr 6, 2014 9:55pm
Here is one to keep an eye on to see if it generates a signal. One of the nice things about trading H4 charts is you can just wait for the signal to come to you without feeling rushed. If it doesn't you just wait for another
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  • #864
  • Apr 7, 2014 3:02am Apr 7, 2014 3:02am
Is there a way to disable regular divergence and only have the hidden divergence? Or another indicator that has that?
  • #865
  • Apr 7, 2014 10:10am Apr 7, 2014 10:10am
No signal for the GBPUSD, but I am wondering if the TRIX cross is a valid entry signal for this strategy. I know it is used by others. As you can see it would have been a nice trade. We did have the bounce off of support in the direction of the trend. The entry would have been the candle with the white dotted line.

Any thoughts on using TRIX cross as an alternative? I don't have experience with that.
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  • #866
  • Apr 7, 2014 10:52am Apr 7, 2014 10:52am
Quoting Dewey McG
No signal for the GBPUSD, but I am wondering if the TRIX cross is a valid entry signal for this strategy. I know it is used by others. As you can see it would have been a nice trade. We did have the bounce off of support in the direction of the trend. The entry would have been the candle with the white dotted line. Any thoughts on using TRIX cross as an alternative? I don't have experience with that. {image}
You should have got the green arrow on M5 10 to 15 minutes ago. One of the rules of the system is when the setup up good on higher TF, look for the arrow confirmation on lower TFs. It's however true that in your case going from H4 to M5 is a bit far but from what I am seeing on the chart, the arrow appeared when price came back to test and fail 1.66014, previously a resistance which has been breached. This entry is later than wished but it's the cost of waiting for the coral to become green otherwise there were green arrows right where you wanted to enter (H1, M30 and M15) but the coral was red.

Entry based on TRIX cross can be tricky as you will have a lot of "noisy" crosses.
  • #867
  • Apr 7, 2014 11:02am Apr 7, 2014 11:02am
Quoting kagbe
{quote} You should have got the green arrow on M5 10 to 15 minutes ago. One of the rules of the system is when the setup up good on higher TF, look for the arrow confirmation on lower TFs. It's however true that in your case going from H4 to M5 is a bit far but from what I am seeing on the chart, the arrow appeared when price came back to test and fail 1.66014, previously a resistance which has been breached. This entry is later than wished but it's the cost of waiting for the coral to become green otherwise there were green arrows right where you...
Thanks. Interesting as I only looked at the H1 chart and saw coral was red. I didn't think of going lower than that, but I still might balk at a 5 min chart. Now the question is whether it's OK to use an entry signal on a lower time frame when trading the higher one if the lower time frame's coral doesn't match. In this case it would have worked out, but I will look at other's going forward to see how well that works.

Currently I am trading 2 other systems which are working quite well, but this would be a nice addition if it proves to be legitimate. I will continue testing for a while before adding it to my live trading
  • #868
  • Edited 9:48pm Apr 7, 2014 11:18am | Edited 9:48pm
Quoting Dewey McG
{quote} Thanks. Interesting as I only looked at the H1 chart and saw coral was red. I didn't think of going lower than that, but I still might balk at a 5 min chart. Now the question is whether it's OK to use an entry signal on a lower time frame when trading the higher one if the lower time frame's coral doesn't match. In this case it would have worked out, but I will look at other's going forward to see how well that works. Currently I am trading 2 other systems which are working quite well, but this would be a nice addition if it proves to be...
Generally, I consider the coral on a higher TF to overrule the coral on a lower TF. My reasoning is that, if on H4 the coral is telling me we have a bull tend, there is a high probability that the red coral on H1 is a noise. This is not always true and can actually be very dangerous because in case of trend reversal, the lower TF coral will change color before the higher TF's. So there is judgement call here.

On this particular trade, this is what could have been done when the coral turned green, both TRIX green, fast TRIX crossed slow TRIX but no green arrow on H4, H1 and M30: enter with half your normal volume but with a rather tight sl because that support line is very strong and if breached, there is a chance of 50 pips down before price look back. R/R would have been great. I am not sure I would have taken that trade had I noticed the PA earlier though.

If you don't mind me asking and if they are not proprietary, what other systems do you use?
  • #869
  • Apr 7, 2014 2:19pm Apr 7, 2014 2:19pm
Head and shoulder pattern forming on the NZDUSD 15mins TF,(doriot best set-up). let's wait and see afterwards.
  • #870
  • Apr 7, 2014 2:30pm Apr 7, 2014 2:30pm
Going long on GU @ 1.66019 TP 1.66223 SL 1.65928
  • #871
  • Apr 7, 2014 9:08pm Apr 7, 2014 9:08pm
Quoting willylink
Head and shoulder pattern forming on the NZDUSD 15mins TF,(doriot best set-up). let's wait and see afterwards.
Hope you got in after it broke the shoulder line at 0.86115 and sits on it (M5) for like 25 minutes
  • #872
  • Apr 7, 2014 10:19pm Apr 7, 2014 10:19pm
Here is one I am watching. Everything is in place on the USDJPY--we just need an entry candle.
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  • #873
  • Apr 7, 2014 10:25pm Apr 7, 2014 10:25pm
Quoting Dewey McG
Here is one I am watching. Everything is in place on the USDJPY--we just need an entry candle. {image}
BoJ monetary policy statement sometime soon followed by press conference later. Probably will send the pair higher but you never know especially with Ukraine crisis coming back in play.
  • #874
  • Apr 7, 2014 10:41pm Apr 7, 2014 10:41pm
Quoting kagbe
{quote} BoJ monetary policy statement sometime soon followed by press conference later. Probably will send the pair higher but you never know especially with Ukraine crisis coming back in play.
My bad. Statement was out half an hour ago.
  • #875
  • Apr 8, 2014 1:46am Apr 8, 2014 1:46am
My GU trade in Green moving my SL to BE. ooh, i missed the entry on NZDUSD.
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  • #876
  • Apr 8, 2014 2:03am Apr 8, 2014 2:03am
Quoting willylink
My GU trade in Green moving my SL to BE. ooh, i missed the entry on NZDUSD. {image}
Wow. Nice call on GBPUSD. Take some profit man
  • #877
  • Apr 8, 2014 2:31am Apr 8, 2014 2:31am
Quoting kagbe
{quote} Wow. Nice call on GBPUSD. Take some profit man
Thanks , hope u are in the trade as well. wait a minute where is doriot ?
  • #878
  • Apr 8, 2014 2:36am Apr 8, 2014 2:36am
Quoting willylink
{quote} Thanks , hope u are in the trade as well. wait a minute where is doriot ?
Unfortunately, didn't take the GBPUSD trade. Was waiting for a better price and price never looked back.
Doriot hasn't posted for some time. Don't know where the guy is.
  • #879
  • Apr 8, 2014 2:43am Apr 8, 2014 2:43am
in the meantime let's keep an eye on the AUDUSD (1 hr) pair , it's broken the 2weeks old resistant (0.92922). waiting for a retest and the green arrow.
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  • #880
  • Apr 8, 2014 2:47am Apr 8, 2014 2:47am
Three hits before the breakout is telling us to note that region. eagle-eyed.
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