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  • #4,621
  • Oct 1, 2014 1:37am Oct 1, 2014 1:37am
Quoting stevepatt
USD/JPY D1 This trade has just hit it's TP 4R (260 pips) {image}

Great, true P.A, but some people really believe that they need indis to trade this kind of markets they think that without indicators you have to pay a lot of attention to charts and have to analize a lot, of course I dont agree with this statement.

Congratulations, PA and simplicity a killer combination.
Indicators always obey Price, not the other way.
  • #4,622
  • Oct 1, 2014 2:02am Oct 1, 2014 2:02am
Quoting maxtrader
{quote} Great, true P.A, but some people really believe that they need indis to trade this kind of markets they think that without indicators you have to pay a lot of attention to charts and have to analize a lot, of course I dont agree with this statement. Congratulations, PA and simplicity a killer combination.
Yes, I really believe into what I do and what I speak about as trading has made my living for some years already. So, no reason to have any doubts.
There are just different approaches. I know quite much about trading purely PA. It can be done with almost naked charts like I did using only fractals. By now I have chosen trading with indicators in an absolutely mechanical way. Result is same like with naked charts - stable month after month. But time spent has reduced very much. I need 45 minutes per day to trade H4 charts. Daily is a bit too slow for me. And maybe also SL is too big for big lots. Trading small lots is waste of time when trading is your only or main income.
But I like very much what Stevepatt is doing. Never argued against his style.
  • #4,623
  • Oct 1, 2014 2:13am Oct 1, 2014 2:13am
Quoting Indrek
{quote} Yes, I really believe into what I do and what I speak about as trading has made my living for some years already. So, no reason to have any doubts. There are just different approaches. I know quite much about trading purely PA. It can be done with almost naked charts like I did using only fractals. By now I have chosen trading with indicators in an absolutely mechanical way. Result is same like with naked charts - stable month after month. But time spent has reduced very much. I need 45 minutes per day to trade H4 charts. Daily is a bit...

Great you have found your aproach, congratulations.
Indicators always obey Price, not the other way.
  • #4,624
  • Oct 1, 2014 2:19am Oct 1, 2014 2:19am
Quoting maxtrader
{quote} Great you have found your aproach, congratulations.
Main idea is that every approach works equally well if you know what you do. When two traders start trading exactly same setup, the result is probably very much different. Because finally it is up to trader not indicators nor PA nor anything else.
  • #4,625
  • Oct 1, 2014 2:22am Oct 1, 2014 2:22am
Quoting Indrek
{quote} Main idea is that every approach works equally well if you know what you do. When two traders start trading exactly same setup, the result is probably very much different. Because finally it is up to trader not indicators nor PA nor anything else.

As I said to you last page "there is no universal true in trading, people should use what is profitable for them"

If you find your profitable style then you should use that. So I wish you many pips in your trading.
Indicators always obey Price, not the other way.
  • #4,626
  • Oct 1, 2014 6:01am Oct 1, 2014 6:01am
Quoting FerruFx
{quote} Nice one
It will be if it can break that support area, follow the EUR and GBP be nice
It takes a lot for me to IGNORE you, but you can try.
  • #4,627
  • Oct 1, 2014 6:13am Oct 1, 2014 6:13am
Quoting Erebus
{quote} It will be if it can break that support area, follow the EUR and GBP be nice

Hi Erebus,

That's a resistance/supply level going back to August 2008, looked a good place to TP for me.
  • #4,628
  • Oct 1, 2014 9:09am Oct 1, 2014 9:09am
hi folks!

what do u think about this config?

Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla de 2014-10-01 16:03:07.png Size: 50 KB


im playing with it since some days ago and im having very good entries.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #4,629
  • Oct 1, 2014 9:44am Oct 1, 2014 9:44am
Quoting tnavi
hi folks! what do u think about this config? {image} im playing with it since some days ago and im having very good entries.
Can you explain a bit how you would use this chart setup to take trades and set TP and SL please?
  • #4,630
  • Oct 1, 2014 10:34am Oct 1, 2014 10:34am
Quoting stevepatt
USD/JPY D1 This trade has just hit it's TP 4R (260 pips) {image}
hi stevepatt
if the nilihist holy grail 2moro still green , then i should make a long trade for this ?
Attached Image (click to enlarge)
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  • #4,631
  • Oct 1, 2014 10:40am Oct 1, 2014 10:40am
Quoting cavenlee92
{quote} hi stevepatt if the nilihist holy grail 2moro still green , then i should make a long trade for this ? {image}
Be careful with USDJPY, there is a strong SR area right ahead on both daily and weekly chart.
  • #4,632
  • Oct 1, 2014 1:14pm Oct 1, 2014 1:14pm
Quoting maxtrader
{quote} Sorry but the last 11 days at least on daily charts and 4 h charts GBPJPY gave me a lot of good opportunities, the last 4 days the pair has been choppy by just looking at a naked 4h chart so no trading this pair the last 4-5 days. Wish you lot of pips.
Nice but my felleng was better like thos Indi

Im waiting for short 11 days now I got my 60,70,an 90 pips on G/J btw the indi show up
  • #4,633
  • Oct 1, 2014 1:19pm Oct 1, 2014 1:19pm
Quoting mara1
{quote} Nice but my felleng was better like thos Indi Im waiting for short 11 days now I got my 60,70,an 90 pips on G/J btw the indi show up

After a very strong up since 11 days ago (almost 700 pips) , It is pretty obvious that at some point It will have to retrace, so long positions will take their gains, I hope you catch a very nice retracement.
Indicators always obey Price, not the other way.
  • #4,634
  • Edited 1:41pm Oct 1, 2014 1:22pm | Edited 1:41pm
Quoting maxtrader
{quote} After a very strong up since 11 days ago (almost 700 pips) , It is pretty obvious that at some point It will have a retracement, I hope you catch it.
it was for mee ranging G/J I do no where u see strong up?
matrader it is so easy to talk, and explain all strategys and comment after the tradind day are closed

sure I can predict to last 2 days it is easy I want to hear for the next 2 days
and now Im sure on price 175.00 G/J
and Im sure u didnt catch 700
Attached Image (click to enlarge)
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  • #4,635
  • Oct 1, 2014 1:51pm Oct 1, 2014 1:51pm
Quoting cavenlee92
{quote} hi stevepatt if the nilihist holy grail 2moro still green , then i should make a long trade for this ? {image}
Hi cavenlee92,

Indrek is correct about strong Resistance/Supply ahead, going back to Aug. 2008.

Also, todays candle looks like closing as a Bearish Engulfing Candle.

I always enter a trade with a Buy/Sell Stop Order, by doing this I usually avoid getting on the wrong side of the market.
Attached Image (click to enlarge)
Click to Enlarge Name: 1st Sept 14 USD:JPY D1 Chart.png Size: 137 KB
  • #4,636
  • Edited 7:37pm Oct 1, 2014 2:17pm | Edited 7:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 65 KB

Quoting mara1
{quote} it was for mee ranging G/J I do no where u see strong up? matrader it is so easy to talk, and explain all strategys and comment after the tradind day are closed sure I can predict to last 2 days it is easy I want to hear for the next 2 days and now Im sure on price 175.00 G/J and Im sure u didnt catch 700 {image}

You said 11 days ago (If we are talking about trading It is obvious that we are talking about 11 trading days ago) 11 trading days ago was exactly september 16th, from september 16th to september 19th there were almost 700 pips in an uptrend.
I am not arguing anything with you these are simple facts, if your trading platform dont show you this uptrend beetween red lines I strongly sugest you change your Broker, and I caught some pips I never said that I got 700 pips, and I wasnt trading past charts, if you see the small arrows on the screen on sep 17th, you will know that I took a buy trade that gave me like 200 pips. I dont predict, predictions are more for financial analists or Economists than traders, I pull the trigger when I see action, this is why I trade using P.A
Indicators always obey Price, not the other way.
  • #4,637
  • Oct 1, 2014 2:55pm Oct 1, 2014 2:55pm
GBP/JPY W1/D1

Looking at GBP/JPY, this is what I'm seeing.

Market broke out of a ranging market on the week beginning 15th Sept. 2014 and hit heavy Resistance/Supply dating back to Oct. 2008.

The market has now hit a level of selling, for me my trading bias is up, by looking at the weekly chart I can confirm this.

So if my bias is long where is a logical place for buyers to be lying in wait?

Once I find where I think this level is I wait for PA, at this point, before deciding what to do.

There are no certainties, only the market can decide where it wants to go fuelled by market emotion.

We can only try to read what is happening and apply our trading edge.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st Oct 14 GBP:JPY W1 Chart.png Size: 130 KB
Click to Enlarge Name: 1st Oct 14 GBP:JPY D1 Chart.png Size: 132 KB
  • #4,638
  • Edited 3:37pm Oct 1, 2014 3:19pm | Edited 3:37pm
Quoting stevepatt
GBP/JPY W1/D1 Looking at GBP/JPY, this is what I'm seeing. Market broke out of a ranging market on the week beginning 15th Sept. 2014 and hit heavy Resistance/Supply dating back to Oct. 2008. The market has now hit a level of selling, for me my trading bias is up, by looking at the weekly chart I can confirm this. So if my bias is long where is a logical place for buyers to be lying in wait? Once I find where I think this level is I wait for PA, at this point, before deciding what to do. There are no certainties, only the market can decide where...


I agree with you for me It is a trading bias up on the long term, I will also look something like you, a strong suport zone accompany by a hammer or an engulfing candle or a long wick, but this is just me, as I said before there are different styles, all valid if you master your own. Obviously there is no harm if some traders want to use some of Nihilist indis to verify if these indicators give them extra confidence.
Regards
Indicators always obey Price, not the other way.
  • #4,639
  • Oct 1, 2014 4:12pm Oct 1, 2014 4:12pm
I'm in this GJ short with 80 pips and i would like to leave trade running for the night.
Do I move my stop loss to break even now or wait for the next candle to open and place my stop loss above it?
Do I go down to the 1HTF and place stop loss there, above the last candle?

I'd appreciate some input by the experienced traders as to how they adjust their stop loss so that the trade can run for a longer period.
I normally manually close off my trades.
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.PNG Size: 38 KB
  • #4,640
  • Oct 1, 2014 11:43pm Oct 1, 2014 11:43pm
Quoting stevepatt
{quote} Hi cavenlee92, Indrek is correct about strong Resistance/Supply ahead, going back to Aug. 2008. Also, todays candle looks like closing as a Bearish Engulfing Candle. I always enter a trade with a Buy/Sell Stop Order, by doing this I usually avoid getting on the wrong side of the market. {image}
hi stevepatt
it is ok to put a sell stop in this situation for the E-U ?
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