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Counter-trend trading

  • #541
  • Oct 23, 2014 8:49am Oct 23, 2014 8:49am
Quoting tashkent
{quote} Thank you my friend. I am not sure if I have anything much to offer and I am not here against Ullen. I have seen his trades, they are very similar to mine. except Ullen's results are much better than mine. I am just trying to show people that in this business you need to have the right mindset, because some ideas here may develop really bad habits. All I am saying is just respect the market. then it will open you it's secrets.
Although the thread's name is "Trend is your enemy", I think we are all here to give insights, hints for a better trading.
Having this in mind, there're no conflict of interests, so your view/way of trading would be much appreciated Tashkent
Hope Ullen does not mind as well
Mind is the King
  • #542
  • Oct 23, 2014 8:55am Oct 23, 2014 8:55am
Quoting joelmusicman
{quote} Of course, if it were that easy I'd be richer than Bill Gates. No, I think what happens is I look at the longer term charts and make my opinion on the longer term direction, then when I drill down to the M5 to make my entry, I think I'm gonna miss out on a real breakout when it's actually a false one.
Test it.

Look at a chart. Determine your entry and do the opposite.
Not about how much you win, but how much you loose
  • #543
  • Oct 23, 2014 8:59am Oct 23, 2014 8:59am
Quoting MikiMax
{quote} Although the thread's name is "Trend is your enemy", I think we are all here to give insights, hints for a better trading. Having this in mind, there're no conflict of interests, so your view/way of trading would be much appreciated Tashkent Hope Ullen does not mind as well
I hope too that the OP will not mind my posts

OK, so here is update on UJ: closed the trade at 107.93. Now probably it entered a range zone. here i will think twice before buying. price may need some time before deciding will it go up or drop.
As Above, So Below
  • #544
  • Oct 23, 2014 9:04am Oct 23, 2014 9:04am
Just found the thread,

Maybe you're right Ullen, trend nowadays are rather weak,
and by the time we spot the trend forming with series of highs and lows, the trend is near its end
but still I haven't found any way to do countertrend trade, would be nice if you drop some hint
In the end its just a stupid numbers game
  • #545
  • Oct 23, 2014 9:27am Oct 23, 2014 9:27am
Quoting tashkent
{quote} I hope too that the OP will not mind my posts OK, so here is update on UJ: closed the trade at 107.93. Now probably it entered a range zone. here i will think twice before buying. price may need some time before deciding will it go up or drop.
Tashkent, you're very humble. My sentiment is same as MikiMax and I'd love your views. Whether they agree or disagree with anyone else is not an issue to me. Cheers.
When in doubt, HEDGE
  • #546
  • Oct 23, 2014 9:35am Oct 23, 2014 9:35am
Quoting AdelPC
{quote} Tashkent, you're very humble. My sentiment is same as MikiMax and I'd love your views. Whether they agree or disagree with anyone else is not an issue to me. Cheers.

thank you!
I am watching EURCAD. price is at 1.4215. I have long biased view on this pair. SL can be pretty small and TP much bigger. just giving an idea.
As Above, So Below
  • #547
  • Oct 23, 2014 9:50am Oct 23, 2014 9:50am
Quoting tashkent
{quote} thank you! I am watching EURCAD. price is at 1.4215. I have long biased view on this pair. SL can be pretty small and TP much bigger. just giving an idea.
Thank you for that. I have short positions on EURCAD and will now consider closing with a small loss, or BE if lucky.
When in doubt, HEDGE
  • #548
  • Oct 23, 2014 10:02am Oct 23, 2014 10:02am
Quoting tashkent
{quote} thank you! I am watching EURCAD. price is at 1.4215. I have long biased view on this pair. SL can be pretty small and TP much bigger. just giving an idea.
The chart seems to indicate EURCAD is trending down, but you think not. I understand you analyse price actions. This is actually quite confusing. Care to explain why based on PA, or whatever? Much appreciated.
When in doubt, HEDGE
  • #549
  • Oct 23, 2014 10:06am Oct 23, 2014 10:06am
Quoting AdelPC
{quote} Thank you for that. I have short positions on EURCAD and will now consider closing with a small loss, or BE if lucky.
thank you for your trust but one of the reasons i do not like calling game is that when you make a call it will affect other people's opinion. i would advise you not to follow anybody without your own proper analysis. this is how you develop your trading skills.
As Above, So Below
  • #550
  • Oct 23, 2014 10:26am Oct 23, 2014 10:26am
Quoting tashkent
{quote} thank you for your trust but one of the reasons i do not like calling game is that when you make a call it will affect other people's opinion. i would advise you not to follow anybody without your own proper analysis. this is how you develop your trading skills.
Very true
Where price is now, it has been before, and will be again.
  • #551
  • Oct 23, 2014 10:49am Oct 23, 2014 10:49am
Quoting tashkent
{quote} thank you for your trust but one of the reasons i do not like calling game is that when you make a call it will affect other people's opinion. i would advise you not to follow anybody without your own proper analysis. this is how you develop your trading skills.
Points taken.
But I do like to know why someone else sees a picture differently and what I missed.
When in doubt, HEDGE
  • #552
  • Oct 23, 2014 11:40am Oct 23, 2014 11:40am
Quoting tashkent
{quote} thank you for your trust but one of the reasons i do not like calling game is that when you make a call it will affect other people's opinion. i would advise you not to follow anybody without your own proper analysis. this is how you develop your trading skills.
Very true. This is how I started improving. I'd take a call and try to figure out why it was made. And this really is what is important. I still have no freaking idea how Ullen gets his targets but even if he just told me straight, there will still be ways to screw up the trade. Trust me on this one
I want more brain power!
  • #553
  • Oct 23, 2014 12:13pm Oct 23, 2014 12:13pm
Quoting cfdtaleong
{quote} Very true. This is how I started improving. I'd take a call and try to figure out why it was made. And this really is what is important. I still have no freaking idea how Ullen gets his targets but even if he just told me straight, there will still be ways to screw up the trade. Trust me on this one
yes. one can get the most profitable system and still screw up the trades. i would advise everybody to build their own systems. the SYSTEM is YOU.
As Above, So Below
  • #554
  • Oct 23, 2014 2:53pm Oct 23, 2014 2:53pm
Ullen I suggest now you can short usdjpy, its good for a bout 40 or so pips... not sure it will return to the level you suggested earlier until next week... but tomorrow a good retracement is what I see...tp and sl is set to your own personal threshold
Peace & Pips
  • #555
  • Oct 23, 2014 7:23pm Oct 23, 2014 7:23pm
Hi Tashkent,

Ur call on Eur/Usd was spot on...care to share how u dissected that trade...all I could see was resistance(which whenever I draw hardly seems to hold) and a bearish candle..not sure what time frame was used..was it something to do with TZ zone..i have put TZ indicator on my chart but not really sure how to actually trade off them..would be good to get some tips on how trades are placed using those zones/indicator and how to utilize the space u talk about.

regards
Attached Image
  • #556
  • Oct 23, 2014 7:53pm Oct 23, 2014 7:53pm
Quoting YardiFX
Ullen I suggest now you can short usdjpy, its good for a bout 40 or so pips... not sure it will return to the level you suggested earlier until next week... but tomorrow a good retracement is what I see...tp and sl is set to your own personal threshold
Nice one. But sorry I missed that opportunity.
Can't help thinking... if good traders keep contributing to making successful trade calls, this forum will beat the market.
When in doubt, HEDGE
  • #557
  • Oct 23, 2014 8:27pm Oct 23, 2014 8:27pm
Quoting dennis4u15
Hi Tashkent, Ur call on Eur/Usd was spot on...care to share how u dissected that trade...all I could see was resistance(which whenever I draw hardly seems to hold) and a bearish candle..not sure what time frame was used..was it something to do with TZ zone..i have put TZ indicator on my chart but not really sure how to actually trade off them..would be good to get some tips on how trades are placed using those zones/indicator and how to utilize the space u talk about. regards
Hi,
that chart actually gives the best illustration of my entry and exit. i will attempt to give you little more clues from other TFs and I really hope these will not confuse you. there is more i can tell about the whole price action story but you would need to figure out the rest for yourself. I also used TZ concept which i do not want to discuss, but i will give you clue - it is mostly about the wicks

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As Above, So Below
  • #558
  • Oct 23, 2014 8:39pm Oct 23, 2014 8:39pm
Thanks for the reply Tashkent,

Yes the candle with that huge wick was calling for short...I have seen more setups but maybe due to different sessions it does not work...do u take sessions into consideration...I mean Asia session stays quiet most of the time so maybe good setups wont yield profits,, am I right? Also we have look at the size of the wicks, candles and so on right?? As for TZ yes I have heard traders in the other thread talking about wicks...just a question do u use the TZ and the Recurrence indicator or u look for these wicks without them.

Regards
  • #559
  • Oct 23, 2014 8:50pm Oct 23, 2014 8:50pm
Quoting dennis4u15
Thanks for the reply Tashkent, Yes the candle with that huge wick was calling for short...I have seen more setups but maybe due to different sessions it does not work...do u take sessions into consideration...I mean Asia session stays quiet most of the time so maybe good setups wont yield profits,, am I right? Also we have look at the size of the wicks, candles and so on right?? As for TZ yes I have heard traders in the other thread talking about wicks...just a question do u use the TZ and the Recurrence indicator or u look for these wicks without...
the wick itself is not sufficient. you need to look inside of that candle and see the price action. higher TF candle does not tell you anything if you can't read what is going on inside of it. i would advise you to mark any 4 H candle and zoom in to 5 M or 1 M. analyze a few 4H candles. you will clearly see the reasons why price continued or reversed after that candle. draw horizontal lines at the body - open/close and the wicks - high/low. you will see what you are looking for
the price behaves almost same during all sessions. just some are slow, others fast. you do not have to count the wicks, you can just change the TF to bring it to minimum for more precision.
As Above, So Below
  • #560
  • Oct 23, 2014 9:23pm Oct 23, 2014 9:23pm
Quoting tashkent
{quote} Hi, that chart actually gives the best illustration of my entry and exit. i will attempt to give you little more clues from other TFs and I really hope these will not confuse you. there is more i can tell about the whole price action story but you would need to figure out the rest for yourself. I also used TZ concept which i do not want to discuss, but i will give you clue - it is mostly about the wicks {image} {image} {image}
The most precise & detailed explanation on PA I have ever come across in my entire life .....
When in doubt, HEDGE
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