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The sacred edge 2.0

  • #321
  • Apr 22, 2016 8:05am Apr 22, 2016 8:05am
I was short earlier today but i exited too early. now i missed the days move. Thats trading for you.
  • #322
  • Apr 22, 2016 8:32am Apr 22, 2016 8:32am
Quoting ephisi
A US based friend of mine has offered to take my free signals on a live account. Only problem is that he can only take one trade at a time and minimum lot size of 0.1 on a 700USD account due to US 1:50 maximum leverage . I do not recommend trading my strategy with 0.1 lots on a 700USD account but he has decided to carry on with the restrictions due to broker rules. We were trading 0.01 lot size but the broker refused to allow him close his trades and informed him he can only trade a minimum of 0.1 lots or leave. i trade this strategy with 0.01 lot...
I feel foolish> Unfortunately i was unaware of US trading rules before now. It turned out i was mis-informed. I could actually trade 0.01 lotsize. The reason the trades could not be closed was due to FIFO( first in first out) rules. An earlier trade on same pair must be closed before a trade opened later on same pair. So now i will be applying sound money management on this account from current balance levels.

I have done some tweaking to my strategy. i am no more trading blindly based on TZ principles. But trading price action after london open looking to catch the major move of the day but TZ principles will help me with analysis, entries and exits. Limit of One losing trade of 20pips daily. I am basically trading with common sense now coupled wiith extreme discipline on money management. its been a long journey and I've come to realise we don't need analysis paralysis. keep it simple
  • #323
  • Apr 22, 2016 9:00am Apr 22, 2016 9:00am
Starting Monday i will start Sharing tradeplan and full charts and analysis before london open. I am going to be giving back. But i won't give out 100% of my secrets. i will hold back one or two things as my business secret.
  • #324
  • Apr 22, 2016 9:02am Apr 22, 2016 9:02am
Quoting ephisi
Starting Monday i will start Sharing tradeplan and full charts and analysis before london open. I am going to be giving back. But i won't give out 100% of my secrets. i will hold back one or two things as my business secret.
So lets get this project started
  • #325
  • Apr 22, 2016 9:03am Apr 22, 2016 9:03am
I exited todays short at 91 ish on the spike up. so painful. i have missed the move for today. no point chasing the market. except we will have a surprise reversal before london close
  • #326
  • Apr 22, 2016 9:11am Apr 22, 2016 9:11am
There is a mis-priciing on 5 minutes chart. Price has to go up before it can go down. if price continues going down then i will be expecting a surprise move before london close of on monday markets. Into Monday i am bearish biased with close eye on sharp reversals . For now mis-pricing on 30minutes is still active and we need to clear 1.1220. so were are tied between 1.1263 target on 5mis and 1.1220 target on 30minutes. so we watch and let a few hours pass
Attached Image (click to enlarge)
Click to Enlarge Name: Mispricing on 5 mins chart.png Size: 38 KB
  • #327
  • Apr 22, 2016 9:12am Apr 22, 2016 9:12am
Common sense, watching the 30mins and 1hr candles as they develop will give me a feel of what dealers are trying to do
  • #328
  • Edited 9:18am Apr 22, 2016 9:17am | Edited 9:18am
Note i am not blindly trading based on TZS. it is just a tool. i will show other things i am looking at as time passes >

Chart below shows misplacing on 30mins that hasn't been filled for weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: 30mins mispricing zoomed out on 1hr charts.png Size: 81 KB
  • #329
  • Apr 22, 2016 9:21am Apr 22, 2016 9:21am
Quoting ephisi
There is a mis-priciing on 5 minutes chart. Price has to go up before it can go down. if price continues going down then i will be expecting a surprise move before london close of on monday markets. Into Monday i am bearish biased with close eye on sharp reversals . For now mis-pricing on 30minutes is still active and we need to clear 1.1220. so were are tied between 1.1263 target on 5mis and 1.1220 target on 30minutes. so we watch and let a few hours pass {image}
5mins mis pricing has been resolved. misplacing told me not to go short at those levels. cos there may be a reversal
Attached Image (click to enlarge)
Click to Enlarge Name: 5mins mispricing resolved.png Size: 67 KB
  • #330
  • Apr 22, 2016 9:26am Apr 22, 2016 9:26am
Here is the experiment Vlady1974 talked about few posts back. its an idea i shared with him. i didn't know he took it serious. i am also applying it now. a close above Yesterdays daily low @ 1.1269 will get me longing retracements. I will share the trick about pivots as time goes on. Vlad please share your pivot knowledge with us when you have the time
Attached Image (click to enlarge)
Click to Enlarge Name: daily pivots on 1hr chart.png Size: 79 KB
  • #331
  • Apr 22, 2016 9:29am Apr 22, 2016 9:29am
if this were to happen around london open it would be good short signal expecting yesterdays low not to be broken to the upside. But london is almost closed
  • #332
  • Apr 22, 2016 9:34am Apr 22, 2016 9:34am
Quoting ephisi
Here is the experiment Vlady1974 talked about few posts back. its an idea i shared with him. i didn't know he took it serious. i am also applying it now. a close above Yesterdays daily low @ 1.1269 will get me longing retracements. I will share the trick about pivots as time goes on. Vlad please share your pivot knowledge with us when you have the time {image}
First attack to break 69. pivots are not broken easily. they have to be broken with a swift momentum move. don't be surprise there may be a second strong attack of 69
  • #333
  • Apr 22, 2016 9:42am Apr 22, 2016 9:42am
Quoting ephisi
Here is the experiment Vlady1974 talked about few posts back. its an idea i shared with him. i didn't know he took it serious. i am also applying it now. a close above Yesterdays daily low @ 1.1269 will get me longing retracements. I will share the trick about pivots as time goes on. Vlad please share your pivot knowledge with us when you have the time {image}
As you can see i am looking at many tools to get a feel of the market and what the dealers are trying to do before its late. Daily charts. overall bias is down. As i learnt on the EURUSDD thread. Its usually a case of If A then not B or if not A then B. TZ makes me think in either or mode. so either 1.1461 top on daily holds or 1.1143 bottom on daily holds. one will have to give way. only time will decide. Stops will be hunted on either side
Attached Image (click to enlarge)
Click to Enlarge Name: Daily bias. Not trading blindly.png Size: 79 KB
  • #334
  • Apr 22, 2016 9:44am Apr 22, 2016 9:44am
The most important aspect of my strategy will be discipline and sound money management. without these a profitable strategy will fail. Taking it one day at a time
  • #335
  • Apr 22, 2016 9:45am Apr 22, 2016 9:45am
Quoting ephisi
The most important aspect of my strategy will be discipline and sound money management. without these a profitable strategy will fail. Taking it one day at a time
So long as i quit after my first 20pips loss for the day. i will be fine. that is going to be my most important rule
  • #336
  • Apr 22, 2016 9:46am Apr 22, 2016 9:46am
Quoting ephisi
Here is the experiment Vlady1974 talked about few posts back. its an idea i shared with him. i didn't know he took it serious. i am also applying it now. a close above Yesterdays daily low @ 1.1269 will get me longing retracements. I will share the trick about pivots as time goes on. Vlad please share your pivot knowledge with us when you have the time {image}


When I can mate, I'll try and post. Pivots are known world wide..... like Fibs. What I like about them compared to Fibs is that they are based on a fixed calculation based on the price of the day or week. Which means, you could even project them into the future.

Anyway, here's the simple crux. S1/S2 and vice versa R1/R2 are the main boundaries. PP is the 50% mark so is the most powerful. To move between these lines is a break as you correctly point out.

Based on price action movement knowledge that both you and I have seen studying TZ, a retrace that happens after a momentum move, will usually gravitate towards these lines.

In a similar way, momentum moves will head towards S1/S2 or R1/R2 levels and have more chance of reversal. It is less likely that price often goes to R3 or S3 and that has a higher chance of reversal. So if you were a careful trader, you could take a Change In Trend trade at S3 or R3 levels. None of this is guaranteed, and there are other factors such as news, price formation (eg. Double Top, Head and shoulders etc etc etc)

But Pivots prove themselves to be consistent S/R levels better than Fibs which are arbitrary.
A pip is only worth it if you know how much you risked to earn it
  • #337
  • Apr 22, 2016 9:47am Apr 22, 2016 9:47am
Quoting ephisi
{quote} As you can see i am looking at many tools to get a feel of the market and what the dealers are trying to do before its late. Daily charts. overall bias is down. As i learnt on the EURUSDD thread. Its usually a case of If A then not B or if not A then B. TZ makes me think in either or mode. so either 1.1461 top on daily holds or 1.1143 bottom on daily holds. one will have to give way. only time will decide. Stops will be hunted on either side {image}
this is one of the best pieces of advice that a trader here called Cloggie, got me to start doing and I took to it.
A pip is only worth it if you know how much you risked to earn it
  • #338
  • Apr 22, 2016 9:49am Apr 22, 2016 9:49am
Quoting ephisi
Here is the experiment Vlady1974 talked about few posts back. its an idea i shared with him. i didn't know he took it serious. i am also applying it now. a close above Yesterdays daily low @ 1.1269 will get me longing retracements. I will share the trick about pivots as time goes on. Vlad please share your pivot knowledge with us when you have the time {image}
can you see the secret i just shared about pivots?. the act is support and resistance. and as vlad shared. the are extremely good entry and exit points
Attached Image (click to enlarge)
Click to Enlarge Name: After the fact.png Size: 83 KB
  • #339
  • Apr 22, 2016 9:55am Apr 22, 2016 9:55am
Quoting vlady1974
{quote} When I can mate, I'll try and post. Pivots are known world wide..... like Fibs. What I like about them compared to Fibs is that they are based on a fixed calculation based on the price of the day or week. Which means, you could even project them into the future. Anyway, here's the simple crux. S1/S2 and vice versa R1/R2 are the main boundaries. PP is the 50% mark so is the most powerful. To move between these lines is a break as you correctly point out. Based on price action movement knowledge that both you and I have seen studying...
great contribution Vlad. despite we never continued sharing ideas after the first day. we have come up with similar conclusions.
  • #340
  • Apr 22, 2016 10:00am Apr 22, 2016 10:00am
At this point longs are invalidated. london closes in an 1hr. 1.1239 is daily S1. Watch price action around it especially few minutes to the close of hourly candle. the struggle will be to close on either side
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