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MultiTimeFrame Trend Trading with Price Action

  • #121
  • Jan 25, 2015 4:27am Jan 25, 2015 4:27am
Quoting RockRobb
{quote} from last week entered on H1 {image}

Hi RockRobb;

I'm sure you are aware that the Trade you took wasn't ideal with the amount of DD you had to endure.

See if the chart below will help with picking the best areas to be looking for PA to take Trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 25th Jan 15 NZD:USD H1 Chart.png Size: 153 KB
  • #122
  • Jan 25, 2015 3:14pm Jan 25, 2015 3:14pm
Quoting stevepatt
{quote} Hi RockRobb; I'm sure you are aware that the Trade you took wasn't ideal with the amount of DD you had to endure. See if the chart below will help with picking the best areas to be looking for PA to take Trades. {image}
Nice chart, good descriptions.
I like the NZD/USD chart.
  • #123
  • Jan 25, 2015 4:46pm Jan 25, 2015 4:46pm
Quoting nelutzu
{quote} Hy Stevepatt, In the post 110 you closed one trade for same currency (AUD-USD); why? Expected a range trend?

Hi nelutzu;

The 0.8066 level is a Swing Point going back to June 2010, the Red horizontal line on my chart, with hindsight I would have let it run but I set my Take Profit to the low of the 7th Jan.

Now the Market has broken through this Swing Point with Momentum I'm looking for a Test of this level and Bearish Price Action to take another Short Trade.
  • #124
  • Jan 25, 2015 6:51pm Jan 25, 2015 6:51pm
Quoting stevepatt
{quote} Hi RockRobb; I'm sure you are aware that the Trade you took wasn't ideal with the amount of DD you had to endure. See if the chart below will help with picking the best areas to be looking for PA to take Trades. {image}
thank you for your input,Steve..
i worshipped... Momentum
  • #125
  • Jan 26, 2015 2:19am Jan 26, 2015 2:19am
Quoting stevepatt
{quote} Hi nelutzu; The 0.8066 level is a Swing Point going back to June 2010, the Red horizontal line on my chart, with hindsight I would have let it run but I set my Take Profit to the low of the 7th Jan. Now the Market has broken through this Swing Point with Momentum I'm looking for a Test of this level and Bearish Price Action to take another Short Trade.
Thank you for detail.
  • #126
  • Jan 30, 2015 10:31am Jan 30, 2015 10:31am
Quoting stevepatt
GBP/JPY D1 Short Trade {image} {image}
GBP/JPY D1 Short

Got taken out of this Trade by 14 pips. Why didn't I get out of this Trade after such a Bullish Candle on the 26th Jan.?

When I entered this Trade, or any Trade I enter, I'm prepared to take the loss my last three Trades have all been full losing Trades.

I'm prepared for that, as long as I get my Trade Management correct and don't move my SL in a negative way I can sustain a losing streak, in fact I expect to have a losing run. Preparation is everything.

GBP/JPY D1 Short
GBP/USD D1 Short
EUR/USD D1 Short

Re-entered Short on GBP/JPY following Bearish Price Action.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th Jan 15 GBP:JPY D1 Chart.png Size: 169 KB
Click to Enlarge Name: 30th Jan 15 GBP:USD D1 Chart.png Size: 130 KB
Click to Enlarge Name: 30th Jan 15 EUR:USD D1 Chart.png Size: 121 KB
  • #127
  • Jan 31, 2015 4:53am Jan 31, 2015 4:53am
Quoting stevepatt
The two charts attached show something well worth watching out for. I hope the charts explain what I am looking for clear if not let me know. {image} {image}

The following charts demonstrate a good procedure to follow when Trading.

This is something I need to concentrate on so I have a consistency in my Trading.

The end of the Month is always a good time to review the charts to mark new levels.

This should give you a Trading Bias, for the pair you are looking at, I then look for areas where I would like to see Trade Setups (Price Action) to take Trades in line with Trend Bias.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31st Jan 15 AUD:USD MN Chart.png Size: 115 KB
Click to Enlarge Name: 31st Jan 15 AUD:USD W1 Chart.png Size: 121 KB
Click to Enlarge Name: 31st Jan 15 AUD:USD D1 Chart.png Size: 155 KB
  • #128
  • Jan 31, 2015 8:19am Jan 31, 2015 8:19am
USD/JPY View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31st Jan 15 USD:JPY MN Chart.png Size: 154 KB
Click to Enlarge Name: 31st Jan 15 USD:JPY W1 Chart.png Size: 114 KB
Click to Enlarge Name: 31st Jan 15 USD:JPY D1 Chart.png Size: 104 KB
  • #129
  • Jan 31, 2015 9:20am Jan 31, 2015 9:20am
EUR/USD View

See how Bearish January closes
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31st Jan 15 EUR:USD MN Chart.png Size: 85 KB
Click to Enlarge Name: 31st Jan 15 EUR:USD D1 Chart.png Size: 116 KB
  • #130
  • Jan 31, 2015 9:22am Jan 31, 2015 9:22am
GBP/JPY View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31st Jan 15 GBP:JPY MN Chart.png Size: 104 KB
Click to Enlarge Name: 31st Jan 15 GBP:JPY W1 Chart.png Size: 245 KB
Click to Enlarge Name: 31st Jan 15 GBP:JPY D1 Chart.png Size: 138 KB
  • #131
  • Jan 31, 2015 10:04am Jan 31, 2015 10:04am
GBP/USD View

If you don't get what I'm trying to do here look for a combination of things that make sense to you.

I only started to really grasp what the Market was saying when I stopped trying to listen to it through what someone else was saying.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 31st Jan 15 GBP:USD MN Chart.png Size: 132 KB
Click to Enlarge Name: 31st Jan 15 GBP:USD W1 Chart.png Size: 122 KB
Click to Enlarge Name: 31st Jan 15 GBP:USD D1 Chart.png Size: 132 KB
  • #132
  • Feb 1, 2015 6:09am Feb 1, 2015 6:09am
EUR/JPY View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st Feb 15 EUR:JPY MN Chart.png Size: 112 KB
Click to Enlarge Name: 1st Feb 15 EUR:JPY W1 Chart.png Size: 104 KB
Click to Enlarge Name: 1st Feb 15 EUR:JPY D1 Chart.png Size: 114 KB
  • #133
  • Feb 1, 2015 6:10am Feb 1, 2015 6:10am
USD/CAD View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st Feb 15 USD:CAD MN Chart.png Size: 126 KB
Click to Enlarge Name: 1st Feb 15 USD:CAD W1 Chart.png Size: 110 KB
Click to Enlarge Name: 1st Feb 15 USD:CAD D1 Chart.png Size: 121 KB
  • #134
  • Feb 1, 2015 6:11am Feb 1, 2015 6:11am
NZD/USD View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st Feb 15 NZD:USD MN Chart.png Size: 107 KB
Click to Enlarge Name: 1st feb 15 NZD:USD W1 Chart.png Size: 112 KB
Click to Enlarge Name: 1st Feb 15 NZD:USD D1 Chart.png Size: 111 KB
  • #135
  • Feb 1, 2015 6:12am Feb 1, 2015 6:12am
AUD/JPY View
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1st Feb 15 AUD:JPY MN Chart.png Size: 103 KB
Click to Enlarge Name: 1st Feb 15 AUD:JPY W1 Chart.png Size: 127 KB
Click to Enlarge Name: 1st Feb 15 AUD:JPY D1 Chart.png Size: 112 KB
  • #136
  • Feb 1, 2015 9:56pm Feb 1, 2015 9:56pm
Good luck with your trading! You seem to have the same concept as I do. I look forward to seeing some profitable trades.
Direction is more important than speed. Alot of people go nowhere real fast
  • #137
  • Feb 2, 2015 5:28am Feb 2, 2015 5:28am
Quoting traderjess87
Good luck with your trading! You seem to have the same concept as I do. I look forward to seeing some profitable trades.

Hi traderjess;

Thanks for the good wishes, time will tell if I'm making the correct Trade decisions.

Good luck with your Trading also.
  • #138
  • Feb 3, 2015 8:16am Feb 3, 2015 8:16am
Quoting stevepatt
{quote} GBP/JPY D1 Short Got taken out of this Trade by 14 pips. Why didn't I get out of this Trade after such a Bullish Candle on the 26th Jan.? When I entered this Trade, or any Trade I enter, I'm prepared to take the loss my last three Trades have all been full losing Trades. I'm prepared for that, as long as I get my Trade Management correct and don't move my SL in a negative way I can sustain a losing streak, in fact I expect to have a losing run. Preparation is everything. GBP/JPY D1 Short GBP/USD D1 Short EUR/USD D1 Short Re-entered Short...

GBP/JPY D1 Short = Break Even
GBP/USD D1 Short = Break Even
EUR/USD D1 Short = Loss
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3rd Feb 15 GBP:JPY D1 Chart.png Size: 113 KB
Click to Enlarge Name: 3rd Feb 15 GBP:USD D1 Chart.png Size: 105 KB
Click to Enlarge Name: 3rd Feb 15 EUR:USD D1 Chart.png Size: 106 KB
  • #139
  • Feb 3, 2015 8:46am Feb 3, 2015 8:46am
Quoting stevepatt
This is from the Spreadsheet I use to record my Trades. I started this Spreadsheet in late August 2014. As Spreadsheets go it isn't very sophisticated but it lets me know how I'm doing. I'd be posting it wether it was profitable or losing it's important for everyone to keep an account of their Trading. {image}
Here's an update of my results Spreadsheet.

How quickly things can change when Trading.

I haven't got a problem with my entry method, very few of my Trades never go into profit.

The only issue I have is the way I'm managing my Trades.

It looks like recently I've been setting my TPs too far away but on the other hand there's nothing more annoying than seeing the market keep going after I've exited see this Trade from Dec. 30th Post 69

Still have a lot of work to do.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd Feb 15 Results Excel.png Size: 67 KB
  • #140
  • Feb 3, 2015 9:09am Feb 3, 2015 9:09am
AUD/USD D1 Short.

Entered this Trade got lucky with the Red News coming out in Australia overnight for me in the UK.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd Feb 15 AUD:USD D1 Chart.png Size: 116 KB
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