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The Buy Low and Sell High System, the best way to make money

  • #121
  • Nov 26, 2014 1:09pm Nov 26, 2014 1:09pm
wow eagle

thanks for those....but i really dont need them...i got rid of indicators 4y ago.
i just tought you manage to put tunera`s concept into a more practichal form...that is all.
i really like it...i somehow trade a form of it, but i just cant figure out an entry way that can catch the moves and pass the fake ones....im not a fan of entering right because previous low/high was broken..

thanks again...and keep up the good work

bradu
  • #122
  • Nov 26, 2014 4:01pm Nov 26, 2014 4:01pm
Hi Tunera,

Nice threath you have here, i´m a silent follower of yours, even thougth i´m tryng to learn
the markets in a slightly different way, i love the fact that you bring simplicity to all of this
trading naked charts, this is my way too... I try to follow the direction of higher tf with entries
from smaller tf, and this threath can be another eye opener to better time my entries...

So basically when you know wich way to trade, for example you have a long bias long, you then look left
and watch price around 5 min 15 min 1h 4h lows to look for longs around market opens, what i´m finding
a bit dificult is recognizing momentum dryng up and then confirmation of trade. I know you talked about this
already so more screen time for me i guess, to see if it cliks on me...

Would like to see you continue further and i´m sure many other like me have the same wish...

Thank you sir...
  • #123
  • Nov 26, 2014 9:28pm Nov 26, 2014 9:28pm
This is one of the better trading methodology which I have came across in this forum and any experienced or seasoned traders would easily have acknowledged and recognised the merits in this method as such.

However the inherent weakness here is the lack of a definitive break and hold levels which need to be incorporated into this method in order to make it a comprehensive and completely robust methodology to let one trade with complete confidence and absolute conviction.

Excuse me for my forthrightness in sharing my trading views and most times most here in this forum are not too receptive of my veracity and I would gladly leave if so is the case here too.

Good luck and happy trading.

GS
  • #124
  • Nov 26, 2014 11:48pm Nov 26, 2014 11:48pm
Quoting genghistar
definitive break and hold levels
Hi, fascinating..
care to explain a little bit?
  • #125
  • Nov 27, 2014 12:06am Nov 27, 2014 12:06am
Quoting tunera
{quote} Hi, fascinating.. care to explain a little bit?
In every pairs there is a break and hold level by which if the level is breached then the holding level must hold before it can move on to the next fractal. If it does not, then its ranging until one if those fractals are breached and held {either up or down).

Hope to help.

GS
  • #126
  • Nov 27, 2014 12:10am Nov 27, 2014 12:10am
Quoting genghistar
{quote} In every pairs there is a break and hold level by which if the level is breached then the holding level must hold before it can move on to the next fractal. If it does not, then its ranging until one if those fractals are breached and held {either up or down). Hope to help. GS
So, you mean not 1 but 2 levels, one that is broken, and the other one that must not be broken otherwise it would signal a bigger move coming.

Did i understood rightly?

Another question (the last one, i don't want to bother you too much), when you say "move on to the next fractal", by fractal you don't mean the "bill williams fractals", do you?

Thanks
  • #127
  • Nov 27, 2014 12:20am Nov 27, 2014 12:20am
Quoting tunera
{quote} So, you mean not 1 but 2 levels, one that is broken, and the other one that must not be broken otherwise it would signal a bigger move coming. Did i understood rightly? Another question (the last one, i don't want to bother you too much), when you say "move on to the next fractal", by fractal you don't mean the "bill williams fractals", do you? Thanks
No, there is only one level but yours have two.
Fractal is a price range like what you have on your chart.
The next fractal is the corresponding one either above or below.
Bill Williams is not my type of trader but he is a great teacher.

Enuf said the rest is up to you.....

Good luck.

GS
  • #128
  • Nov 27, 2014 1:25am Nov 27, 2014 1:25am
Usdjpy, flirting with friday lows.

An eye on that
Attached Image (click to enlarge)
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  • #129
  • Nov 27, 2014 2:36am Nov 27, 2014 2:36am
GbpUsd

So.. after the huge move of yesterday (move that i sold without wait for a valid signal, sadly it was a loss), today the market is showing us what looks like the signal we look for.

Some comment on the image:
1) Price went straight up, yesterday
2) Momentum dried up as NY closed (price have stopped going up)
3) At london open the market went straight up, making what can be an exhaustion move, and what can be considered a double top.

The signal looks legit, ideally we will put the stop at +1 as soon as price break today lows, however after the incredible sign of strength of yesterday buyers, i do look suspiciously at any sell signal today on gu, so i just put now the stop at +1, for the sake of distrust (??).

Let's see if it will be a good one.

*Usdjpy is still on my radar, no signals yet, but we may attempt a "who care about signals?" buy anyway..
Still thinking about it

Quoting tunera
GbpUsd So.. after the huge move of yesterday (move that i sold without wait for a valid signal, sadly it was a loss), today the market is showing us what looks like the signal we look for. Some comment on the image: 1) Price went straight up, yesterday 2) Momentum dried up as NY closed (price have stopped going up) 3) At london open the market went straight up, making what can be an exhaustion move, and what can be considered a double top. The signal looks legit, ideally we will put the stop at +1 as soon as price break today lows, however after...
Just took the profits below today lows, 35pips are ok, i'm still too much suspicious.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 25 KB
  • #130
  • Nov 27, 2014 3:21am Nov 27, 2014 3:21am
This is an excellent thread tunera, just seen it after being away for 2 weeks. I am currently trying to wriggle out of loads of losing positions created by cutting winners quick, letting losers run (yeah its stupid, but so easy to do), and especially by taking positions at the highs/lows based on listening to so called gurus, engulfing candles, false breakouts etc. So I am left with loosing positions and 2 choice - either close them down and pack forex in, loathe to do this - or try and improve the present losing positions by buying/selling TINY slices of the overall positions. I have two oanda fxtrade platforms, one for buys, one for sells, and I flick between the two. This morning, I took off a tiny portion of the gu at the "high" of 1.5820, and a similar tiny slice at the low just now of 1.5756 - both at a loss of course, but a better positions than simply closing all at once. I don't watch it 24/7 now, I place orders for slices above or below the current price in a morning, I adjust the sizes so I place orders for bigger slices. So if gu drops further, I take a larger slice at a lower level. This may sound crazy, but over the last few weeks while I have been doing this, the position has improved considerably. And also if a small position moves into profit, I take all or most of it off, and set an order for the same size either 50/100 pips higher.

I am writing this partly to reinforce my new rules
1. Don't sit watching and chasing it.
2. Don't listen to what the "experts" say - follow my own rules.
3. Keep looking at the daily charts for the overall picture.
4. Get on with earning money elsewhere until I master the forex.

And it doesn't matter if everybody here thinks I'm a nut, if it works for me then its ok. Thanks Tunera for the thread.
  • #131
  • Edited 3:55am Nov 27, 2014 3:40am | Edited 3:55am
Just a way to look at it, might not necessarily be the correct one though.
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  • #132
  • Nov 27, 2014 4:42am Nov 27, 2014 4:42am
Thanks Tunera for this nice thread and inputs.
Good to focus on what many forget through all the indicators: Price
Keep up with the good work and with sharing your trade ideas so we can get a good grip on the way you are trading.

Cheers!

C
  • #133
  • Nov 27, 2014 7:13am Nov 27, 2014 7:13am
Thanks heldav and Carlton, some days ago i seen a movie where somebody said that the basic purpose of life is to pass-on/share the informations we got, that gave me the idea to open this thread and share this way of trading (nothing new of course!).

And more or less everybody in this forum share information, that's the purpose of FF lol

Anyway i have to admit that the secret purpose of this thread is in fact build (within the thread) a small community where everybody share potential trade ideas (that follow the system) and signals, so if for example there is a great opportunity on a pair that i or other didn't watched, by sharing it here we all can see it and trade it.

Then of course every trade idea is always a game of probabilities, so nobody have responsibility of how what other people do with trade ideas shared here, in other words don't by shy, if you see a great opportunity share it and don't care if it don't work out as planned.

Me too sometime have bad trades (look the yesterday gbpusd sells! what a fail), but i still share them from time to time for the sake of sharing.

As for this eur, i don't know if somebody have bought it around the lows of today (we had some kind of signal, a little bit ugly but still a signal), it seems to be doing something good for now.. Still soon to call it a success though.

So.. you all know the system, it's very easy, i repeat here briefly:

1) wait price to break a previous high or low
2) wait momentum to slow down (stop going in the breakout direction)
***at this point we can already share it
3) wait for a retest of the top or bottom (double top or double bottom)
4) enter the trade

Easy isn't it?
  • #134
  • Nov 27, 2014 7:34am Nov 27, 2014 7:34am
Quoting tunera
As for this eur, i don't know if somebody have bought it around the lows of today (we had some kind of signal, a little bit ugly but still a signal)..
I did by the way, we can see there was some sort of signal (momentum slowed down, then a double bottom with a tiny exhaustion move), but really really an ugly one!

Still not sure if this trade have any potential, however here's the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 27 KB
  • #135
  • Edited 9:33am Nov 27, 2014 9:05am | Edited 9:33am
Moment of truth, stops at +1 already, it can go up to today highs and above, or get back down.


Update:
out at +10, such a waste of time
Attached Image (click to enlarge)
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  • #136
  • Nov 27, 2014 9:28am Nov 27, 2014 9:28am
Quoting tunera
{quote} I did by the way, we can see there was some sort of signal (momentum slowed down, then a double bottom with a tiny exhaustion move), but really really an ugly one! Still not sure if this trade have any potential, however here's the chart. {image}
The double bottom / pattern was right on yesterday's London open (minus 3pips).
  • #137
  • Edited 10:03am Nov 27, 2014 9:37am | Edited 10:03am
Quoting Carlton
{quote} The double bottom / pattern was right on yesterday's London open (minus 3pips).
Yep, how about this.

Kind of weird

Not really sure what's going on..


Update:
Bullshit is going on
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 23 KB
  • #138
  • Edited 11:03am Nov 27, 2014 10:05am | Edited 11:03am
Quoting tunera
{quote} Yep, how about this. Kind of weird Not really sure what's going on.. {image}
Entered around 14.00 gmt on M1, you could have taken profit when price went back to New York open. This is quite an important level.

On M1, it looked like a sell according to your methode around 15.00gmt right at New York open level. I guess you would still be in.

Maybe it was a bit risky to pick a bottom for a buy so close under NY open level after rejection. But that's where the question of scaling in and loss order management comes into play when we pick tops and bottoms.

How do you manage that?
  • #139
  • Nov 27, 2014 10:15am Nov 27, 2014 10:15am
Now what... it's still going down.. and did I get your strategy right ?

It should pop again, right? And when it does... where to take profits?
Attached Image (click to enlarge)
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  • #140
  • Nov 27, 2014 10:20am Nov 27, 2014 10:20am
Quoting Carlton
{quote} Entered around 14.00 gmt on M1, you could have taken profit when price went back to New York open. This is quite an important level. On M1, it looked like a sell according to your methode around 15.00gmt right at New York open level. I guess you would still be in. Maybe it was a bit risky to pick a bottom for a buy so close under NY open level. But that's where the question of scaling in and loss order management comes into play when we pick tops and bottoms. How do you manage that?
Mmmm.. i'm afraid you should bring a chart because i'm not sure to get exactly your various points.

As for the risky to pick a bottom (or a top) it always is, especially with trending pairs like gbpusd that don't always respect the various "rules"...
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