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The similarity system

  • #8,581
  • Sep 19, 2014 5:38am Sep 19, 2014 5:38am
Price just hit my second target, see pic.

I knew it would, but being Friday and I just got up, no need to be greedy!
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  • #8,582
  • Sep 19, 2014 6:03am Sep 19, 2014 6:03am
Quoting elen21168
{quote} Here we go .... there is a strong zone around 2913-2917. My other zone is higher (some of them are overlapping). So, i think 2912-2917 is a good choice for TP.
My SL was hit ... have a sell 2960, minus some pips at the moment. Seems it will go down again
  • #8,583
  • Sep 19, 2014 6:07am Sep 19, 2014 6:07am
i think this is bear trap
  • #8,584
  • Sep 19, 2014 6:10am Sep 19, 2014 6:10am
Quoting Baillie
Price just hit my second target, see pic. I knew it would, but being Friday and I just got up, no need to be greedy! {image}
Morning! LOL

I like your picture. Reminds me of this one!
Attachment
A pip is only worth it if you know how much you risked to earn it
  • #8,585
  • Sep 19, 2014 6:12am Sep 19, 2014 6:12am
Quoting ephisi
i think this is bear trap
Thanks Ephisi. SL moved to 5 pips, will see .... if it does not break last low, then i will close it (now have some pips profit, BE is ok too )
Edit:
have closed it, enough for today. Good night every body, see you on Monday ....
  • #8,586
  • Sep 19, 2014 6:15am Sep 19, 2014 6:15am
Quoting vlady1974
{quote} Morning! LOL I like your picture. Reminds me of this one! {image}
Hi Vlad,
Wow wow wow, your image is similar to Baillie's. So, price really has finger print, it will repeat again some time in the future
  • #8,587
  • Sep 19, 2014 6:22am Sep 19, 2014 6:22am
Quoting ephisi
@vlady youre busy watching and scalping transient zones. lol. how is it going mate.? scalping needs so much focus. thats why i was away for some time. the scalpers are usually silent for long periods
Tricky day of scalping for me buddy. Win some, Lose some, Get interrupted, Lose Some, Win Some, Get Interrupted.... aaaaargggh!

Constant Scalping, I don't think is for me.... or perhaps i am rusty. But psychologically I think I've changed from years ago when I used to to do 10-20 pips in an hour but I'd be a crazy dog and be stressed out. Can't do that anymore.

Overall, the rejection of the 4H into the 1H was actually difficult for me to absorb as the 15M / 5M just wasn't giving me the signals to say it was in sync. Dunno. Perhaps I'm hung over from the night before.

We should be retesting the 2830 level... or at least, I'd like it to. Both 4H and 1H tell me it wants to. On the 1H, h is proving to be 2-3 ATM.... so it may not get there today. Which means overall we are still within a range set yesterday.... which really doesn't mean anything as far as direction.
A pip is only worth it if you know how much you risked to earn it
  • #8,588
  • Sep 19, 2014 6:25am Sep 19, 2014 6:25am
will reply my msgs soon. closesly watching this and taking notes. if we close above 60 then we should rally.

i learnt something new. Neio i agree with you. we are heading foir 1.2930 gradually today or monday
  • #8,589
  • Sep 19, 2014 6:28am Sep 19, 2014 6:28am
Quoting elen21168
{quote} Hi Vlad, Wow wow wow, your image is similar to Baillie's. So, price really has finger print, it will repeat again some time in the future
TZ is essentially how you would draw a support/resistence line in its basic form. But what you are looking for are the spaces. The absence of price bars to the left or right of the most extreme price. Most people think that is Top/Bottom.....giving Resistence/Support.

But here's another magic nugget: both a Top and a Bottom always has space to the left.

I got this from a trading book I can't recall the title to, but I read this last couple of years and that was gold. I remembered it instantly as Eurusdd gave us his Transient Price Theory. The h bars.... is really a definition of that space.

A support line, assumes that h is infinity. The line is there and it will always be support UNTIL it changes to resistence.
But in our case, the LEFT side can mean that in the past it was recurrent but after this price bar.... is completely transient.
That's what that picture is saying. It's not a Top/Bottom but it has the opposite of the definition I gave above. And, to me, it is recurrent after a period of time (h).
A pip is only worth it if you know how much you risked to earn it
  • #8,590
  • Sep 19, 2014 6:28am Sep 19, 2014 6:28am
Quoting ephisi
will reply my msgs soon. closesly watching this and taking notes. if we close above 60 then we should rally. i learnt something new. Neio i agree with you. we are heading foir 1.2930 gradually today or monday
65/68 next next target/. will read and reply posts later. im seriously multitaksing
  • #8,591
  • Sep 19, 2014 6:29am Sep 19, 2014 6:29am
Quoting ephisi
will reply my msgs soon. closesly watching this and taking notes. if we close above 60 then we should rally. i learnt something new. Neio i agree with you. we are heading foir 1.2930 gradually today or monday
Yes. This I agree with. 60 has been a BITCH!
A pip is only worth it if you know how much you risked to earn it
  • #8,592
  • Edited 2:15pm Sep 19, 2014 6:38am | Edited 2:15pm
I shouldn't do this, but, I do not use any of the indicators for identifying TZ Zones, I stay on the 4hr, 1hr, 30 min charts zoomed out a bit; to get a better picture.

Look to your left for "clusters of prices" 2-3 bars or more, pick a price closest to 00 or 05 within those "clusters" draw a horizontal line to your right. You now have a very good target.

The good ones are those where price pulls away, up or down cleanly, without too much hesitation.

Let price move away with "probability" in mind.

Example: (1) prices at cluster, (2) prices move up, (3) prices cluster, (4) prices continue up, (5) prices cluster.

(1) accumulation, (2) mark up, (3) consolidation, (4) mark up (5) consolidation, distribution

Now use your "rare event" thinking. This is not all to my strategy but this gets me started in the right direction.

Which looks better?

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OR this ?

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  • #8,593
  • Sep 19, 2014 6:42am Sep 19, 2014 6:42am
Quoting vlady1974
{quote} Morning! LOL I like your picture. Reminds me of this one! {image}
HMMM, maybe, Im waiting for you to post something good so I have a trade? LOL

Good evening or afternoon to you too.
  • #8,594
  • Sep 19, 2014 6:47am Sep 19, 2014 6:47am
Quoting vlady1974
{quote} TZ is essentially how you would draw a support/resistence line in its basic form. But what you are looking for are the spaces. The absence of price bars to the left or right of the most extreme price. Most people think that is Top/Bottom.....giving Resistence/Support. But here's another magic nugget: both a Top and a Bottom always has space to the left. I got this from a trading book I can't recall the title to, but I read this last couple of years and that was gold. I remembered it instantly as Eurusdd gave us his Transient Price Theory....
youre a good teacher. eurusdd taught and you learned very well
  • #8,595
  • Sep 19, 2014 7:10am Sep 19, 2014 7:10am
below 30 we would spike down alot. then the trend becomes officially bearish again
  • #8,596
  • Sep 19, 2014 7:29am Sep 19, 2014 7:29am
Just wanted to post my daily trades till now (don't want to change the norm for you guys )

Edit: I decided to hide the TP & SL from the statement in order not to give out too much and keep you guys thinking
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  • #8,597
  • Sep 19, 2014 7:42am Sep 19, 2014 7:42am
As crazy as this may sound, I am still long eur/usd despite the current price action
I don't like to throw out hundreds of numbers out there and take credit whether the price goes up or down just because wherever it goes, I have a post to quote & say I told you so.

I've been as transparent as humanly possible, I'm showing you all my daily trades right from my platform, I even went as far as giving you a screenshot of my actual orders that are open in the market with their TP & SL.

I would be the 1st one to post this system's first losing trade, and I will be more than happy to discuss with you guys what went wrong and how could we get the sure next bet.

The only reason I am here exclusively on this thread is because I feel that I have to give back at least part of what I have learned from here; without the ideas presented here, my system wouldn't exist now!

Thanks
  • #8,598
  • Sep 19, 2014 7:53am Sep 19, 2014 7:53am
Quoting FX-Jay
As crazy as this may sound, I am still long eur/usd despite the current price action I don't like to throw out hundreds of numbers out there and take credit whether the price goes up or down just because wherever it goes, I have a post to quote & say I told you so. I've been as transparent as humanly possible, I'm showing you all my daily trades right from my platform, I even went as far as giving you a screenshot of my actual orders that are open in the market with their TP & SL. I would be the 1st one to post this system's first losing trade,...
yea longs have hope. but if we break 1.2830. expect to see 1.2730/50
  • #8,599
  • Sep 19, 2014 7:55am Sep 19, 2014 7:55am
Quoting FX-Jay
As crazy as this may sound, I am still long eur/usd despite the current price action I don't like to throw out hundreds of numbers out there and take credit whether the price goes up or down just because wherever it goes, I have a post to quote & say I told you so. I've been as transparent as humanly possible, I'm showing you all my daily trades right from my platform, I even went as far as giving you a screenshot of my actual orders that are open in the market with their TP & SL. I would be the 1st one to post this system's first losing trade,...
Hey Jay,

Just wanted to give you a shout-out re your efforts, results, the knowledge you've shared back.... oh and your PM to me!
I actually don't think your bias makes any difference. Some who are seeking intra-day guidance may get confused but that's by-the-by.

To me, the TZ or whatever still leave room for the art of interpretation and that's where the true magic is. We may have the ability to project probability but in the end anything can happen no matter what the probability. So in saying that, I don't think it's wild at all for you to be bullish.... I'm bearish until 1.25 but I can drop it like a fart in an elevator if I see signs that the bull is back. I believe Pro Traders are like that. So, keep em coming!

In terms of mechanics and technique... I was wondering whether you are projecting future price with the Eurusdd method(s) or combining this with other pearls of wisdom?
A pip is only worth it if you know how much you risked to earn it
  • #8,600
  • Sep 19, 2014 7:56am Sep 19, 2014 7:56am
I will post the trades I currently have in bold for everyone to see, and I'll be open to criticism if those trades end up in loss by the time I have given:

(keep in mind that so for from the beginning of the testing on Monday I have 84/84 winners - the statement posted shows 1 loss & that's bcz of negative swaps - the actual trade was closed at break even)

Also remember that I don't take any trade that has a probability of success below 90%
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