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Trading from an Experienced and Successful FULL TIME Trader

  • #921
  • Apr 11, 2014 7:44am Apr 11, 2014 7:44am
Quoting doriotcapita
.....Now the entry rules: 1. You must be on the 15m, 30m, or 1 hour time frame. I tend to watch the 1 hour for support and resistance although the 15 minute is fine as well. The BEST entries are off of the 15m or 30m. I will also at times go down to the 5m and look for MULTIPLE ENTRIES. ....
In his first post doriotcapita mentioned that he also looks at the M5 TF for multiples entries. I have just noticed that there was a double signal on M5 for AUDCAD where there was none on M15 or M30 which I was watching.
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  • #922
  • Apr 11, 2014 7:53am Apr 11, 2014 7:53am
Quoting willylink
AUDUSD was a loss of -43 (its part of the business) you need to accept losing and winning the same. the 1 hr and 30mins pix. attached. i had to close the GBUSD manually as the Coral is red ( my opinion) {image} {image}
yeah the uptrend was a little exhausted, should be coming down for a bit
  • #923
  • Apr 11, 2014 8:03am Apr 11, 2014 8:03am
Quoting vicki1911
{quote} OK. AUDCAD resistance around 1.0293. Right? Which S/R line do you have in mind for AUDUSD? I'm in EURAUD. S/R line around 1.4732. There was no signal on Trix, but it was such a nice reaction to the S/R line so I enter it. It is having a bit of the hard time around the previous two highs at 1.4782. I have set TP higher than that at 1.48.
Don't understand your entry in EURAUD, no arrow generated so no trade. secondly, no clear support and resistant so no trade on the AUDCAD.
  • #924
  • Apr 11, 2014 8:11am Apr 11, 2014 8:11am
AUDUSD (15mins.) may be warming up for ....... waiting....... for the green arrow. no green arrow, no trade.
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  • #925
  • Apr 11, 2014 8:15am Apr 11, 2014 8:15am
Watch out for the Consumer Sentiment coming up soon. and note the Coral on the 30mins TF.
  • #926
  • Apr 11, 2014 8:27am Apr 11, 2014 8:27am
Quoting willylink
{quote} Don't understand your entry in EURAUD, no arrow generated so no trade. secondly, no clear support and resistant so no trade on the AUDCAD.
I agree about EURAUD. This was really not a trade that belongs to this post.

About AUDCAD. It had two previous attempts to break through 1.0293 and then it succeeded the third time. Quite a good resistance line IMO. In the end drawing S/R lines is the subjective part of this trading strategy unlike the corral and the Trix part.
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  • #927
  • Apr 11, 2014 8:28am Apr 11, 2014 8:28am
Quoting vicki1911
{quote} In his first post doriotcapita mentioned that he also looks at the M5 TF for multiples entries. I have just noticed that there was a double signal on M5 for AUDCAD where there was none on M15 or M30 which I was watching. {image}
You are right failed to check the 5mins for entries. but i don't actually go down to 5mins for entries because i regard it as noise (my opinion). good job on the trade.
  • #928
  • Apr 11, 2014 8:39am Apr 11, 2014 8:39am
Quoting willylink
{quote} You are right failed to check the 5mins for entries. but i don't actually go down to 5mins for entries because i regard it as noise (my opinion). good job on the trade.
she's just eager to trade . The reason he probably said that Vicki, is because if you look at 5m and even 15m to an extent (well really any time frame), can lead to early entries (such as in the case of the trade you posted, price hardly went up in pips much before coming back down and breaking the previous support of the 5m time frame and then producing another entry).
  • #929
  • Apr 11, 2014 8:44am Apr 11, 2014 8:44am
The challenge a trader may face in fully grasping this system is drawing S&R correctly which could be achieved by looking at price clusters on the higher TF. S&R on the higher TF proves to be more reliable on the higher than on the lower TF. for instance if i am trading on the 15mins TF i will look at where price stops and reverse on the 1hr, 4hr and even 1 day not once but twice and even more. then when i spot a valid breakout not spikes. then wait for retest and hold as a further confirmation.
  • #930
  • Apr 11, 2014 8:54am Apr 11, 2014 8:54am
S&R is not an exact point on the chart but price clusters, 3 traders may draw 3 different S&R levels on the same tf, chart space and instrument.
  • #931
  • Apr 11, 2014 9:05am Apr 11, 2014 9:05am
Check price clusters on the USDJPY 4hr TF (region marked with a light gray Eclipse) then draw an horizontal line across the middle. tell me if not a a good S&R level to be watched for the coming week
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  • #932
  • Apr 11, 2014 9:46am Apr 11, 2014 9:46am
Quoting willylink
Check price clusters on the USDJPY 4hr TF (region marked with a light gray Eclipse) then draw an horizontal line across the middle. tell me if not a a good S&R level to be watched for the coming week {image}
I think that is a great S&R level.

Hey willylink, I don't want to be argumentative. I just liked how it broke that level on AUDCAD on the third go. There are different opinions there among the traders. Some say the more the S&R level is hit the stronger it is and other say it becomes weaker. There is one who says that third time is lucky i.e. it usually gets broken on the third attempt. I believe everyone should do according to their conviction and preferences. I am still finding my way and experimenting. I will post what I think is in the spirit of this thread's strategy and if it is not I will state that as I did in the post about EURAUD where I said that there was no signal on Trix.
  • #933
  • Apr 11, 2014 12:23pm Apr 11, 2014 12:23pm
Hi All,

This thread caught my attention. Very interesting!

Thanks for sharing.
  • #934
  • Apr 11, 2014 1:18pm Apr 11, 2014 1:18pm
Quoting vicki1911
{quote} I think that is a great S&R level. Hey willylink, I don't want to be argumentative. I just liked how it broke that level on AUDCAD on the third go. There are different opinions there among the traders. Some say the more the S&R level is hit the stronger it is and other say it becomes weaker. There is one who says that third time is lucky i.e. it usually gets broken on the third attempt. I believe everyone should do according to their conviction and preferences. I am still finding my way and experimenting. I will post what I think is in the...
OK, but just be careful and follow the rules of the system as taught by Doriot. Happy trading
  • #935
  • Apr 11, 2014 2:25pm Apr 11, 2014 2:25pm
I downloaded indicators and put them into my MT4 expert/indicators folder but they are not there in the list of my indicators when I open my mt4 . How to get them show up? is there anything that I missed? pls assist.
Appreciation is the key to wealth and happiness
  • #936
  • Apr 11, 2014 7:26pm Apr 11, 2014 7:26pm
Quoting likica
I downloaded indicators and put them into my MT4 expert/indicators folder but they are not there in the list of my indicators when I open my mt4 . How to get them show up? is there anything that I missed? pls assist.
In the new versions of the Metatrader they have changed the location of the Indicators and template directories. You will find them in File/Open Data Folder. You also may need to exit and restart the Metatrader to see the indicators. Try that and see if that solves the problem.
  • #937
  • Apr 12, 2014 2:07am Apr 12, 2014 2:07am
problems solved. thanks Vicki1911. I should've asked for help earlier. tech made me stressed not trading :-)
Appreciation is the key to wealth and happiness
  • #938
  • Apr 13, 2014 1:42pm Apr 13, 2014 1:42pm
Hi All,

Hope you had a great weekend and are rearing to make bucket loads of pips this week. That said, thanks to vicki1911 and willylink for your assistance with the indicators and template. I was finally able to instal the two and I guess I am now ready to go. Thanks a lot guys. I appreciate it.

Happy Trading.
  • #939
  • Edited 4:01am Apr 16, 2014 3:37am | Edited 4:01am
GU and EU may be warming up for a long trend-up having broken its resistant. let's see a retest of our broken resistant for further analysis.
  • #940
  • Apr 16, 2014 6:00am Apr 16, 2014 6:00am
Hi All,

Quick question; is this system exclusively based around S/R levels? I cannot seem to wrap my head around it.

Happy Trading.
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