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  • #7,161
  • May 21, 2014 8:35am May 21, 2014 8:35am
Quoting 919gilead
Hi Icerock, This is an example of an EG short trade setting up for a possible Frankfurt/London entry but remember we have important GBP reports coming up 90 minutes after London open {image}
And this is the result of the EG example - about 45 pips. And did you notice the H4 engulfing candle

This is what we are all looking for, so why stress ourselves. Identify one trade, just one, wait for the setup, set alarm and when price hit the alarm, double check that the setup & entry conditions are met and enter a low risk trade without any stress.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EG Trade Setup - 5202014.gif Size: 78 KB
Click to Enlarge Name: EG Trade Setup - 5212014.gif Size: 56 KB
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  • #7,162
  • May 21, 2014 8:37am May 21, 2014 8:37am
Quoting icerock
919gilead, good morning and many thanks for illustrative examples and detailed explanations, I appreciate a lot. Whats the use of m5 and m15 stochs in your system? (I suppose its m5 and m15 stochs painted grey on your template).
Good morning Icerock. If I am selling I want to ensure they are turning or have just turned from extreme OB and going in the direction of the HTF.
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  • #7,163
  • May 21, 2014 8:47am May 21, 2014 8:47am
Quoting 919gilead
Hi Icerock, Another live example for you There was a possible trade where I drew the circle but I don't trade during that time and wasn't here. I usually want to see the 1st 2 - 3 hours of the Asian session play out before considering any trade; See the 2nd pullback to retest the high of the Asian session Price seem to be resuming the downtrend Will you take a short trade? The H1 Stox does not support a short trade at this time, and H1 candle will close in another few minutes and H1 Stox will be locked and cannot repaint. So no trade...

And this is the result for the AJ trade too - another 30 pips.

Someone once said, "trading requires the patience of a saint and the discipline of a soldier."
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AJ3 Trade Setup - 5202014.gif Size: 63 KB
Click to Enlarge Name: AJ Trade Setup - 5212014.gif Size: 64 KB
Low Risk Low Stress High Reward High Probability Trades
  • #7,164
  • May 21, 2014 9:35am May 21, 2014 9:35am
Quoting 919gilead
{quote} And this is the result for the AJ trade too - another 30 pips. Someone once said, "trading requires the patience of a saint and the discipline of a soldier." {image} {image}
well, I like your way, first of all, because it's less stressful than looking on 1-minute chart
I must say that I did not take EG trade, as I was still thinking over your posts.
But after NY open I tried to practice a bit, not sure if it was a right entry, but I took 10 pips and exited on support_1 line.

Screenshot taken few seconds after entry

P.S. You did great trades today
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5.png Size: 43 KB
  • #7,165
  • May 21, 2014 9:47am May 21, 2014 9:47am
Quoting 919gilead
{quote} And this is the result for the AJ trade too - another 30 pips. Someone once said, "trading requires the patience of a saint and the discipline of a soldier." {image} {image}

Hi 919gilead

Do forgive me for the delay in thanking you for your detailed response. My original post was just light-hearted of course! Naturally it would be wonderful to have an early warning system for every potential winning set up. BTW your analysis for EURGBP early today was spot on! I really believe that the period between 6.00am - 9.00am GMT is very often a good trading period.

I think the biggest problem for most who like to trade all the pairs - its a killer when your concentrating on one trading pair and the best action on the day is on a totally different pair. For instance yesterday GA was hot - today GZ was great as well as EUR shorts of course.

I am using the 1 min chart now to enter and exit all trades. The TDL indi is quite useful for identifying minor pullbacks and oversold/overbought levels. I do like your multi-time frame template which really helps to identify general trend direction. But I have and use a great signal indi which I find works extremely well on the 1 min chart Happy to share it with those who would like to use it - but must give me their feedback of every trade opened using the indi. Picked up 80 pips on GZ today with it but could have had many more with EG etc.

Kind Regards

JM
  • #7,166
  • May 21, 2014 9:52am May 21, 2014 9:52am
Quoting icerock
{quote} well, I like your way, first of all, because it's less stressful than looking on 1-minute chart I must say that I did not take EG trade, as I was still thinking over your posts. But after NY open I tried to practice a bit, not sure if it was a right entry, but I took 10 pips and exited on support_1 line. Screenshot taken few seconds after entry P.S. You did great trades today {image}
Of course it was a good trade. We just have to practice and practice more to get more confidence.
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  • #7,167
  • May 21, 2014 10:21am May 21, 2014 10:21am
Quoting jmtini
{quote} Hi 919gilead Do forgive me for the delay in thanking you for your detailed response. My original post was just light-hearted of course! Naturally it would be wonderful to have an early warning system for every potential winning set up. BTW your analysis for EURGBP early today was spot on! I really believe that the period between 6.00am - 9.00am GMT is very often a good trading period. I think the biggest problem for most who like to trade all the pairs - its a killer when your concentrating on one trading pair and the best action on the...
Hi JM,

You are very right - concentrating on one pair and seeing best price action on another can be very frustrating. And this is why I review all the 28 major/minor pairs and note the ones with good structure, set alarm and wait. I then go through the 28 charts again every 30 - 60 minutes to ensure the setups are still intact and for new ones developing.

You can share the signal indicator you mentioned if you feel like, and will test it and let you know.

And great job on your GN (GZ) trade.

I'm off now for my appointment, and see you nice folks later.

Shalom

George
Low Risk Low Stress High Reward High Probability Trades
  • #7,168
  • Edited 11:54am May 21, 2014 11:44am | Edited 11:54am
Quoting jmtini
{quote} I think the biggest problem for most who like to trade all the pairs - its a killer when your concentrating on one trading pair and the best action on the day is on a totally different pair.
I was just thinking of what you said above, and thought I would post this again as it will surely help but we need a coder that can put an alert on the indicator with a variable percentage change. I will put the default rate @ 0.2% or 20% depending on how the code is written. Original indicator here but I have tampered with it in my own crude way by trial and error, to add the minor pairs and also reduce the space.

I boxed the pairs that moved and an alert could have helped identify them when the percentage change exceeded maybe 0.2% or more. We will have to play with this to know the best change rate. I hope someone will be interested as I have been making this request for over 2 years now.

And funny enough if you look at the charts, you will discover that these pairs moved at different times, with some just before London open, some after London open and some during the US open. So you can imagine the potential

I'm off now.
Attached Image (click to enlarge)
Click to Enlarge Name: ay Percent Change Indicator.gif Size: 51 KB
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  • #7,169
  • May 21, 2014 12:14pm May 21, 2014 12:14pm
Hi guys,

Can someone tell me in which page can i find Fav's Babon template and indicators?
  • #7,170
  • May 21, 2014 12:31pm May 21, 2014 12:31pm
Quoting antonis1681
Hi guys, Can someone tell me in which page can i find Fav's Babon template and indicators?
On the first page?..
  • #7,171
  • May 21, 2014 9:25pm May 21, 2014 9:25pm
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  • #7,172
  • May 21, 2014 9:31pm May 21, 2014 9:31pm
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  • #7,173
  • May 21, 2014 9:37pm May 21, 2014 9:37pm
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  • #7,174
  • May 21, 2014 9:44pm May 21, 2014 9:44pm
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  • #7,175
  • May 22, 2014 1:50am May 22, 2014 1:50am
Quoting dnabrasil
how many money do you need to live well? every month? well, i go for it and dont trade till next month! i know is difficult to understand: i played with it many years before understand what is so simple.. i do not need to demonstrate to the market that i'm the best, that my system is the best, simply i need to catch some money... years ago i was looking for a system with all the cards right... but can't found it..
Very True. Trade to reach your goal. Hard to understand when there's a good opportunity that does not come anytime any day.
Can be maneuvered only if not addicted to and love trading, by turning off the trading platforms on your PC, laptop, mobile, ipad for a month, that is very hard for many many traders to do because the temptation is more powerful.
  • #7,176
  • May 22, 2014 2:37am May 22, 2014 2:37am
Good morning all.
No trade for me yesterday and when i see the market this morning it could happen the same today.
My name is Martin... Martin Gale
  • #7,177
  • May 22, 2014 3:05am May 22, 2014 3:05am
Quoting condor666
Good morning all. No trade for me yesterday and when i see the market this morning it could happen the same today.
learn lesson from last losses. time to stop gambling before your account go to hell
  • #7,178
  • May 22, 2014 3:19am May 22, 2014 3:19am
919gilead,

from my obvservations on your system, i see that break of previous H4 candle + when H1 and M30 stochs agreed = often can be a strong signal itself... Don't you think so?
  • #7,179
  • Edited 5:09am May 22, 2014 4:46am | Edited 5:09am
Good morning all

Hard getting up this morning . It is difficult being 8 hours behind London and trying to trade this session but let's see what we've got here.

 

  1. I was looking @ Silver long trade but H1 Stox prevented me from entering, and will be watching.
  2. Most Euro pairs are a sell but in retracement right now - will watch for trigger during the US session.
  3. I love the AUD pairs too but H1 Stox is hinting of reversal and using AU as example but no short entry yet as this may be a pullback with PA above some important support levels - yH, DOL, yDOL & DPV.
  4. The GU may be setting up for a good short after the initial break - I don't take the first break and will always wait for retest. Ribbon is now bearish and price is pulling back to the DPV - will keep an eye on this too.
  5. The Yen pairs look like a buy but the H1 Stox is saying no for now except on the CHJ and I have an alert @ the HOD

Good trading to all and do your personal research


Shalom

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  • #7,180
  • May 22, 2014 4:48am May 22, 2014 4:48am
Quoting icerock
919gilead, from my obvservations on your system, i see that break of previous H4 candle + when H1 and M30 stochs agreed = often can be a strong signal itself... Don't you think so?
Yes Icerock - it can be. Trading is a game of probability and we have to anticipate the anticipation of others and be ahead of the crowd
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