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my system of 20 pips

  • #741
  • Oct 9, 2014 2:39am Oct 9, 2014 2:39am
Quoting FXAction
Late entries. Correct entries should have been at the close of the daily candle, but I was carried away by sleep after the day's hardwork. These setups I am posting are the last I would post, so study them and make use of them. More GreenPips To Your Elbow. {image}
I found 4 possible safer targets for your order, but I see you have hope for round number 0.9.
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  • #742
  • Oct 9, 2014 2:40am Oct 9, 2014 2:40am
Sorry I did not noticed your last reply.
  • #743
  • Oct 9, 2014 2:40am Oct 9, 2014 2:40am
Quoting FXAction
{quote} Dennis stop trading mechanically, always have a valid reason based on on our mentor's teachings. Observe your EJ 1h chart, you will notice that you were trying to trade against a parabola going down seeking for support. at that sweetspot level at which you bought, did you notice any reaction? What you needed to see at that level are reactions forming yikes, then a bull candle without yike will stand signalling the end of correction. Up till now, the hook is still being formed.. Moreover Dennis, if you had taken the EU bull trade which I...


EU TP 1.28 like this?
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  • #744
  • Oct 9, 2014 2:41am Oct 9, 2014 2:41am
Quoting FXAction
{quote} Yes Emmy, at 137.400. so lets wait and see if it will hold for bullish continuation. Dennis, take note. This is what our mentor teaches. More GreenPips To Your Elbow.
If price close below the 400 level does that mean we can set a sell order from the 400 level as it will become resistance?
  • #745
  • Oct 9, 2014 2:43am Oct 9, 2014 2:43am
Quoting fxaction
{quote} yes emmy, at 137.400. So lets wait and see if it will hold for bullish continuation. Dennis, take note. This is what our mentor teaches. More greenpips to your elbow.
if it holds thats parabolic failed hope am ryt...?
  • #746
  • Oct 9, 2014 2:56am Oct 9, 2014 2:56am
Quoting whydak
{quote} I found 4 possible safer targets for your order, but I see you have hope for round number 0.9. {image}
Ok, i see. You use tom demark, good. But i prefer psych levels, they mark our SR levels clinically. I want to see price to break .8900 level before I consider heading to .9000 level.
  • #747
  • Oct 9, 2014 2:57am Oct 9, 2014 2:57am
Quoting emmymilton
{quote} if it holds thats parabolic failed hope am ryt...?
It held Emmy Did you get long from 400?
  • #748
  • Oct 9, 2014 3:09am Oct 9, 2014 3:09am
Quoting haircut
{quote} If price close below the 400 level does that mean we can set a sell order from the 400 level as it will become resistance?
It has unfinished business upside.
  • #749
  • Oct 9, 2014 3:16am Oct 9, 2014 3:16am
Quoting verjanso
{quote} EU TP 1.28 like this?{image}
Take it step by step. More Green Pips To Your Elbow.
  • #750
  • Oct 9, 2014 3:32am Oct 9, 2014 3:32am
Quoting catextract89
what if the trade go to SL? then manage it. this, only one person in this thread has figured it out.
I'm still curious what you mean by "manage it". I've stared at the picture of post #27 now so long my eyes are starting to cross, but I don't get it. Do you have a hint for the slow learners on this thread?
  • #751
  • Oct 9, 2014 3:38am Oct 9, 2014 3:38am
Quoting haircut
{quote} it held emmy did you get long from 400?
yes.... Nw we ave untested resistance down.... Fx ac hope am coiming up
  • #752
  • Oct 9, 2014 4:01am Oct 9, 2014 4:01am
NIKE SWOOSH EU 1HR
  • #753
  • Oct 9, 2014 4:05am Oct 9, 2014 4:05am
Hi,
Yesterday I took 2 successful trades with Cat's approach. Now, since I've just finished reading the thread and I have not digested it all I will post a chart with highlighted trading zone as I understand it and I would ask the experienced traders if I am correct.
In a nutshell, Cat avoids congestion areas, demand and supply zone where the movement is choppy. His loopholes are Tranzit zones so to speak, or sort of gaps, where price moves unobstructed. OK, here is the chart, zones to avoid are in light red
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  • #754
  • Oct 9, 2014 4:07am Oct 9, 2014 4:07am
Quoting ponchofx
Hi, Yesterday I took 2 successful trades with Cat's approach. Now, since I've just finished reading the thread and I have not digested it all I will post a chart with highlighted trading zone as I understand it and I would ask the experienced traders if I am correct. In a nutshell, Cat avoids congestion areas, demand and supply zone where the movement is choppy. His loopholes are Tranzit zones so to speak, or sort of gaps, where price moves unobstructed. OK, here is the chart, zones to avoid are in light red {image}
A pip is only worth it if you know how much you risked to earn it
  • #755
  • Oct 9, 2014 4:22am Oct 9, 2014 4:22am
Quoting ponchofx
Hi, Yesterday I took 2 successful trades with Cat's approach. Now, since I've just finished reading the thread and I have not digested it all I will post a chart with highlighted trading zone as I understand it and I would ask the experienced traders if I am correct. In a nutshell, Cat avoids congestion areas, demand and supply zone where the movement is choppy. His loopholes are Tranzit zones so to speak, or sort of gaps, where price moves unobstructed. OK, here is the chart, zones to avoid are in light red {image}
i think exactly the same , but who knows...
Money is made by sitting, not trading. Jesse L. Livermore
  • #756
  • Oct 9, 2014 4:25am Oct 9, 2014 4:25am
Quoting vlady1974
{quote}
I have understood the zones and levels but I am still unsure how he enters? if you wait for an 1hr bar to close above the pivot often it shoots off into the next pivot without being able to enter. If you place your order before a confirmation that its broke support/resistance and held then you risk the losing trade. I am confused as to his entry still grrrrr I have read and re read the thread and understand it all other than how he enters.
  • #757
  • Oct 9, 2014 4:31am Oct 9, 2014 4:31am
FXAction, can I ask how far you usually place your SL is from your entries?
Many thanks
A pip is only worth it if you know how much you risked to earn it
  • #758
  • Oct 9, 2014 4:36am Oct 9, 2014 4:36am
Hi,

Yes ponchofx I noticed that too: I called it Safe Trading Zone :-) . But there is still many questions.

For example chart from post 38. We can safely open SELL orders after candle 1 and 5, because:
- 1 and 5 are momentum candles.
- After these candles price find resistance and go back
- We can safely open SELL orders between blue arrows, after candle 1 and 5 has closed
The same situation with candle 2 and 6 I can safely open BUY orders between purple arrows.

But catextract89 order is completely different. She opened BUY order exactly at point resistance (candle 3). Anything can happened there price could reject this level again. This could be different situation if she would wait for candle 3 close above resistance and open BUY order after candle 3 close.

Next chart from FxActions post 65 he played something different. There was strong support around 139.700 and it was broken by momentum candles. Price found support around 139.300 and goes back. This is opportunity to open BUY order till 139.700 . And what he did ? He decided to wait and open SELL order at resistance 139.700.

I am confuse, because in uploaded chart from post 38 catextract89 played broken of resistance and FxAction in post 65 decided to play rejecting of resistance.
I can imagine trading of breaking the resistance can be profit, but it can be safe only when you put your pending orders few pips below/above the resistance (or wicks of candles). And sometimes catextract89 trading areas where price is first time since long time (look at post 27).

So I do not know:
1. When price break the resistance and when it be rejected.
2. How long safe trading zone is valid ? Only ONE price return in the safe trading zone ? Or maybe until price find resistance/support in safe trading zone.
3. How to use this system in trending market. When prices goes every day in the completely new territory. For example: like USDJPY from 2014.07.25 till 2014.10.01 or like GBPUSD
4. On which timeframe I should draw resistance/support, because FXaction puts charts from M15, M30, H1, D1 timeframe ?
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  • #759
  • Oct 9, 2014 4:45am Oct 9, 2014 4:45am
Quoting haircut
{quote} I have understood the zones and levels but I am still unsure how he enters? if you wait for an 1hr bar to close above the pivot often it shoots off into the next pivot without being able to enter. If you place your order before a confirmation that its broke support/resistance and held then you risk the losing trade. I am confused as to his entry still grrrrr I have read and re read the thread and understand it all other than how he enters.
I think firstly, if you get the idea or principle - then you are able to adapt it to your personal biases.
Often, we mimicry is the best way to learn for mechanical things where repetition eventually gives understanding.
So as children growing to adults, we learn how to tie shoelaces, we do arithmetic, we learn to drive cars, we learn how to work iPhones.

But when we ask more esoteric questions, "How Does One Become Successful" the answer from successful people is harder to implement.
This is because instructions do not reveal all the biases that the person being modeled on possesses.

I replied to another person before that one of the insights to this system has nothing to do with the mechanics of it.
Catextract said she came up with this system whilst staring at a screen during an off-day from work. She was relaxed, not looking for a trade.
She saw a pattern. She saw a familiar pattern and came up with an idea.

That idea has blossomed from further testing and further deviation where she has taken the idea and fitted it to her. She has a busy job, she has limited time.
So her criteria is biased for her requirements.

I don't believe FXAction and Catextract have the same mechanicals in their trades..... but I do believe they share common points so that they are entering at the same times. Hence it's better to not that this is the principle to go for.

You are you. If you don't like the fact that the 1H goes through a Pivot Level that you are watching... that tells me:
a) you are watching for a setup on the 1H...... b) you are watching Pivot Levels.

..... had you considered lower timeframes? Are the pivots based on the Indicator provided or Daily PP? Had you considered that the +20 moves or levels placed on a chart could just act as S/R levels and you can then do a breakout entry/exit? Do you trade when you get out of bed? Do you trade only at London Open? Are you impatient to get in? Do you have enough capital to fund a drawdown? etc etc etc.... there are so many factors to YOU that will alter the mechanics of this thread's approach that you have to disect it all and not try and understand WHY SHE/ENTERES but why YOU should enter.

Sorry for being cryptic. I'm actually being exact - the thoughts you give to these points will make a big difference to how you decipher this method and make it yours.
A pip is only worth it if you know how much you risked to earn it
  • #760
  • Oct 9, 2014 4:48am Oct 9, 2014 4:48am
I have a Long EU triggered at 2761
I have an Long order for AU at 8883

I have open Longs for EU and EJ at 2780 (this was a mistake but I kept it open) and 137.70
These are underwater, but I am expecting more upside at 3X the drawdown risk.
A pip is only worth it if you know how much you risked to earn it
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