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  • #5,301
  • Nov 13, 2014 12:46am Nov 13, 2014 12:46am
Base on cog/nihilist ultrav2 and nihilist holy grail i'm long on uj
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 27 KB
  • #5,302
  • Nov 13, 2014 1:07am Nov 13, 2014 1:07am
USD/JPY W1/D1

I've got a Buy Stop 5 Pips above yesterdays Inside Candle and PB this Trade Setup formed at Weekly Support/Resistance

The bottom, Weekly, chart shows the 115 Round Number acting as Support/Resistance in the past.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 13th Nov 14 USD:JPY W1:D1 Chart.png Size: 150 KB
Click to Enlarge Name: 13th Nov 14 USD:JPY W1 Chart.png Size: 104 KB
  • #5,303
  • Nov 13, 2014 1:36am Nov 13, 2014 1:36am
Quoting olisavictor
Base on cog/nihilist ultrav2 and nihilist holy grail i'm long on uj {image}

Hi olisavictor,

When you have the Primary Trend and your Trade Direction are in line and you know where the Weekly/Daily Swing Points are you can look to take entries early on your Trigger TF.

I hope you don't mind me pointing this out it is, of course, up to you how you want to take trades.

It's just something worth thinking about.

A Lagging Indicator on a Higher TF can lead when Trading from Lower TFs
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Nov 14 USD:JPY H1 Chart.png Size: 127 KB
  • #5,304
  • Nov 13, 2014 5:19am Nov 13, 2014 5:19am
Quoting stevepatt
{quote} Hi olisavictor, When you have the Primary Trend and your Trade Direction are in line and you know where the Weekly/Daily Swing Points are you can look to take entries early on your Trigger TF. I hope you don't mind me pointing this out it is, of course, up to you how you want to take trades. It's just something worth thinking about. A Lagging Indicator on a Higher TF can lead when Trading from Lower TFs {image}
Hi stevepatt,

Thank you for your time, charts and explanations. We are grateful for all the efforts you put in here.

Do you manually draw your S&R lines from the weekly chart?
Sent you a PM regarding the videos, thank you for sharing this with us.

Take care
  • #5,305
  • Nov 13, 2014 6:44am Nov 13, 2014 6:44am
Quoting forexday
{quote} Hi stevepatt, Thank you for your time, charts and explanations. We are grateful for all the efforts you put in here. Do you manually draw your S&R lines from the weekly chart? Sent you a PM regarding the videos, thank you for sharing this with us. Take care
Hi forexday,

Yes, I draw the levels in manually.

I look for the most obvious Swing Points on a Weekly or Daily chart and look for the nearest Round Number or Big Round Number to that Swing Point.

BIG MONEY hangs out at RNs and BRNS and the Swing Points are the results of this.

When these levels are plotted there is, quite often, regular Rhythm to the levels.

This will also work by using Indicators to take trades; just make sure you are only taking trades in line with the Primary Trend and pay particular attention to the Swing Points for everything to come together.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 13th Nov GBP:USD W1 Chart.png Size: 134 KB
Click to Enlarge Name: 13th Nov 14 GBP:USD D1 Chart.png Size: 179 KB
  • #5,306
  • Nov 13, 2014 9:12am Nov 13, 2014 9:12am
Quoting stevepatt
{quote} Hi forexday, Yes, I draw the levels in manually. I look for the most obvious Swing Points on a Weekly or Daily chart and look for the nearest Round Number or Big Round Number to that Swing Point. BIG MONEY hangs out at RNs and BRNS and the Swing Points are the results of this. When these levels are plotted there is, quite often, regular Rhythm to the levels. This will also work by using Indicators to take trades; just make sure you are only taking trades in line with the Primary Trend and pay particular attention to the Swing Points for...
Thank you steve.
Thanks for vids will watch it tonight.

Take care
  • #5,307
  • Nov 13, 2014 5:39pm Nov 13, 2014 5:39pm
Hello Nihilist,

Thank you for a wonderful system. After all in addition to the system I am using 3 MA indicators. Could you advise me on how to write MA indicator that will show colored squares as shown by (Your) Nihilist Trend filter 1 or Nihilist ultra trend v2.

Thank you very much.
  • #5,308
  • Edited 7:56pm Nov 13, 2014 7:28pm | Edited 7:56pm
Quoting stevepatt
{quote} Hi forexday, Yes, I draw the levels in manually. I look for the most obvious Swing Points on a Weekly or Daily chart and look for the nearest Round Number or Big Round Number to that Swing Point. BIG MONEY hangs out at RNs and BRNS and the Swing Points are the results of this. When these levels are plotted there is, quite often, regular Rhythm to the levels. This will also work by using Indicators to take trades; just make sure you are only taking trades in line with the Primary Trend and pay particular attention to the Swing Points for...

Hi Steve,
Do you screen all pairs looking for your guide lines to be met or do you stick to particular pairs,also with your Big numbers is there a reason that you dont use 0000 and only use 000 numbers,sorry if question sounds silly but would like to know the mechanics behind your thinking,
Cheers,GW
IMPROVISE ADAPT OVERCOME
  • #5,309
  • Nov 13, 2014 8:18pm Nov 13, 2014 8:18pm
Quoting ghost walker
{quote} Do you screen all pairs looking for your guide lines to be met or do you stick to particular pairs
I have the same question too
Is this your routine..something like your homework as a trader?


Quoting ghost walker
{quote} sorry if question sounds silly
no it's doesn't sound silly at all
i worshipped... Momentum
  • #5,310
  • Nov 14, 2014 1:05am Nov 14, 2014 1:05am
Quoting ghost walker
{quote} Hi Steve, Do you screen all pairs looking for your guide lines to be met or do you stick to particular pairs,also with your Big numbers is there a reason that you dont use 0000 and only use 000 numbers,sorry if question sounds silly but would like to know the mechanics behind your thinking, Cheers,GW

Hi ghost walker, RockRobb,

I tend to stick to the major pairs.

The most important Swing Points are, always, the ones closes to the Market Price, it's the nearest BRN - RN to these points that dictates the number used.

I tend to only plot the nearest Swing Points because I don't like too many lines on my chart.

The GBP/USD chart was an exercise to show how regularly some pairs breath other pairs breathing can be quite erratic.
  • #5,311
  • Nov 14, 2014 1:34am Nov 14, 2014 1:34am
Quoting stevepatt
{quote} Hi ghost walker, RockRobb, I tend to stick to the major pairs. The most important Swing Points are, always, the ones closes to the Market Price, it's the nearest BRN - RN to these points that dictates the number used. I tend to only plot the nearest Swing Points because I don't like too many lines on my chart. The GBP/USD chart was an exercise to show how regularly some pairs breath other pairs breathing can be quite erratic.
Thanks Steve,
That clears it up,
GW
IMPROVISE ADAPT OVERCOME
  • #5,312
  • Nov 14, 2014 1:44am Nov 14, 2014 1:44am
Quoting stevepatt
USD/JPY W1/D1 I've got a Buy Stop 5 Pips above yesterdays Inside Candle and PB this Trade Setup formed at Weekly Support/Resistance The bottom, Weekly, chart shows the 115 Round Number acting as Support/Resistance in the past. {image} {image}
Hi Steve, I am shadowing your Usd Jpy trade on demo, if you don't mind me asking you, will you be monitoring the price action on say 4h time frame and adding to the position assuming price goes your way
  • #5,313
  • Nov 14, 2014 4:08am Nov 14, 2014 4:08am
Quoting Piprader
{quote} Hi Steve, I am shadowing your Usd Jpy trade on demo, if you don't mind me asking you, will you be monitoring the price action on say 4h time frame and adding to the position assuming price goes your way

Hi Piprader,

It is certainly an option to monitor a trade in a lower TF, to look for possible reversals, but this can also lead to exiting a trade too early.

Once we get into Trade Management we get into the most important subject in trading.

Getting into a trade is relatively easy it's how that trade is Managed, once a trade has been taken, that makes us a good trader or not

It's the subject, of Trade Management, where I have most difficulties because there are so many options to take.

Do I set and forget? - Do I move my SL to BE after the Market has moved 1R? - Do I take some profit at 1R move my SL to BE, or not, and let the rest run? - Do I set a Trailing Stop, and if so to what perimeters? - Do I exit a Trade if it starts to reverse on me, and if so how much does it have to reverse before I exit?

And I still have no idea which method will work best with my trading style, if anyone has any suggestion I'd love to hear them.

Back to this trade and I won't be adding to this trade because, as I explain in the image below, USD/JPY has had a long run on the Weekly TF with no Correction in the Market.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Nov 14 GBP:JPY W1:D1 Chart.png Size: 210 KB
  • #5,314
  • Nov 14, 2014 4:51am Nov 14, 2014 4:51am
Quoting stevepatt
{quote} Hi Piprader, It is certainly an option to monitor a trade in a lower TF, to look for possible reversals, but this can also lead to exiting a trade too early. Once we get into Trade Management we get into the most important subject in trading. Getting into a trade is relatively easy it's how that trade is Managed, once a trade has been taken, that makes us a good trader or not It's the subject, of Trade Management, where I have most difficulties because there are so many options to take. Do I set and forget? - Do I move my SL to BE after...
Thank you Steve, I really appreciate your time and input here,you hit on all my Demons L.O.L.and I am with you for sure that if anyone has suggestions they are most welcome. Green pips to you Steve. .
  • #5,315
  • Nov 14, 2014 5:05am Nov 14, 2014 5:05am
Quoting stevepatt
AUD/USD D1 Hi Nihilist, Thank you for the indicators, I think I'm going to try using just the Holygrail and Ultra Trend Indicators for confirmation of my trade decisions. I've amended my trading template, for anyone interested I've added the new indicators and template to the zip file below. {image} {image} {file}

The above Trade is an example of terrible Trade Management on my part. See image below

Post 5,108

I exited the USD/CHF D1 trade at BE the EUR/USD trade is still running, again this is not good Trade Management I should have got something out of both these trades by now.

When Trading you have to be totally honest, with others, but most importantly with yourself. If you aren't then you will never learn and progress with your trading.

I am, more than, aware of my limitations when it comes to Trading but I know my weak points and can work on them to make me a better Trader.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Nov 14 AUD:USD W1:D1 Chart.png Size: 156 KB
  • #5,316
  • Nov 14, 2014 5:22am Nov 14, 2014 5:22am
Quoting stevepatt
{quote} hi piprader, it is certainly an option to monitor a trade in a lower tf, to look for possible reversals, but this can also lead to exiting a trade too early. Once we get into trade management we get into the most important subject in trading. Getting into a trade is relatively easy it's how that trade is managed, once a trade has been taken, that makes us a good trader or not it's the subject, of trade management, where i have most difficulties because there are so many options to take. Do i set and forget? - do i move my sl to be after...
Do I take some profit at 1R move my SL to BE, or not, and let the rest run....
I prefer doing that way
Per aspera ad astra
  • #5,317
  • Nov 14, 2014 6:23am Nov 14, 2014 6:23am
Im still keep GBP/JPY from 183,81 for short
  • #5,318
  • Nov 14, 2014 7:03am Nov 14, 2014 7:03am
Quoting mara1
Im still keep GBP/JPY from 183,81 for short

You might well be correct and this is the start of a Bearish move on GBP/JPY.

But we have to take what we can see into account, Wednesday's Bearish move was Red News led, there is a Daily Most Recent Active Low (MRAL) below us and the 180 BRN which has acted as strong Support/Resistance in the past.

Before I would consider this pair Bearish I would want to see that 180 BRN Broken and Tested before considering any Bearish Trades.

If you look at all the other Major JPY pairs there is no sign of Bearish movement, yet, so why should GBP/JPY be any different.

If I where in your shoes, which of course I'm not, I'd be thinking, I'd got lucky, by having Red News go with my Trade decision and seeing no signs of Bearish movement in other JPY pairs, it's time to TP in what was a Counter Trend Trade.

But that's just me.
Attached Image (click to enlarge)
Click to Enlarge Name: 14th Nov 14 GBP:JPY W1:D1 Chart 2.png Size: 175 KB
  • #5,319
  • Nov 14, 2014 7:10am Nov 14, 2014 7:10am
Quoting stevepatt
{quote} You might well be correct and this is the start of a Bearish move on GBP/JPY. But we have to take what we can see into account, Wednesday's Bearish move was Red News led, there is a Daily Most Recent Active Low (MRAL) below us and the 180 BRN which has acted as strong Support/Resistance in the past. Before I would consider this pair Bearish I would want to see that 180 BRN Broken and Tested before considering any Bearish Trades. If you look at all the other Major JPY pairs there is no sign of Bearish movement, yet, so why should GBP/JPY...
I playing too dangerous sometime

anyway forex is a marathon

be ready for USD/JPY it will be much think happened today
Attached Image (click to enlarge)
Click to Enlarge Name: news.png Size: 170 KB
  • #5,320
  • Nov 14, 2014 7:25am Nov 14, 2014 7:25am
Quoting jpadvisor
{quote} Do I take some profit at 1R move my SL to BE, or not, and let the rest run.... I prefer doing that way
green pips to you jpadvisor.
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