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Robinho Enhanced

  • #341
  • Jul 6, 2016 9:52am Jul 6, 2016 9:52am
Quoting Juan007
gbpjpy pend {image}
Juan could you be a bit more explanatory with your charts? I'm not quite sure i totally understand.
  • #342
  • Jul 6, 2016 9:56am Jul 6, 2016 9:56am
Quoting guiyee
{quote} Juan could you be a bit more explanatory with your charts? I'm not quite sure i totally understand.
excuse me i dont speak very well english
so i invite you read the chart

when i read the chart i make a decission to trade

so excuse me guiyee
  • #343
  • Jul 6, 2016 10:04am Jul 6, 2016 10:04am
i close it on +4
very dangerouse i was 20 pips loss
but the pair cross the trend line down
we need read the chart
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 pend 2.png Size: 75 KB
  • #344
  • Jul 6, 2016 10:04am Jul 6, 2016 10:04am
Hi Guiyee,

Yes, if you see there is a 00 level before but you can see that price reacts little to nothing to this level so in levels you have to keep your eyes open, so if its no reaction you can go on, otherwise if you see price is reacting you close your trade.

I beleive that its better to take a small risk and higher reward, but to achieve it is not easy so a 1 to 1 at least is fine but as you say to keep on trading with 1 to 1 you pay commission and every time you make an entry you are at risk, in the long run maybe a 1 to 1 risk reward might not be as profitable and you could end quite anxious.

It is not easy, remember that when this system started the money management was the 18 pip of sl to take 9 pips which is the opposite, we already managed to get at least 1 to 1, its fine. Forgive me if I insist in price action because its not something you wake up one day and you have it all ready, if you need to read price action books do it, its really important not only for this system but for your whole life as traders, its a really difficult thing to manage and maybe with explanations we can reinforce our ideas and help others.

I should be in mexico city already but I have to stay here one more week not for holiday in this case, I found a good client here in the beach sometimes resorts sometimes are good places to get clients, just one more week, sorry for the delay.

Juan also told you the key, read the chart it is very important.
  • #345
  • Jul 6, 2016 10:06am Jul 6, 2016 10:06am
what you think here
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 58 KB
  • #346
  • Jul 6, 2016 10:17am Jul 6, 2016 10:17am
Carneiro taught us that the rules are only a guide .... we read the charts and take risks
  • #347
  • Jul 6, 2016 10:17am Jul 6, 2016 10:17am
.

Yes, its a nice one, the entry above 00 level, sl under it and first target the pivot, keep eyes open if it breaks it fast then you keep and trail your sl.
  • #348
  • Jul 6, 2016 10:19am Jul 6, 2016 10:19am
would you take the long?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 57 KB
  • #349
  • Jul 6, 2016 10:27am Jul 6, 2016 10:27am
.

I think the target is too near to take it , still not bad for a few pips. No I did not take it, the strenghtometer does not show this one as the best option, we can find better setups.
  • #350
  • Edited 10:51am Jul 6, 2016 10:39am | Edited 10:51am
Okay, even tho i said i wouldnt take trades today.. i still did.. i cant help it.. xD

So here is a chart..

-First trade was risky.. it was the typical scalp i have been doing so far. It was +9 actually.. maybe not the best entry. Closed it manually cuz of 00 level and previous hammer.

-Second trade .. Strength meter was still showing AUD very strong.. but USD not so weak as before, it was placed 3rd or 4th on the strength meter.. Probably because of the retracement on the trend.
I took some signals like a bounce on MA and TRENDLINDE.. a Doji right on there and Inside bar. Is this the price action you mean?

Attached Image (click to enlarge)
Click to Enlarge Name: kljkljkljhjhjhjhg.png Size: 188 KB
  • #351
  • Jul 6, 2016 10:51am Jul 6, 2016 10:51am
Quoting guiyee
Okay, even tho i said i wouldnt take trades today.. i still did xD So here is a chart.. -First trade was risky.. it was the typical scalp i have been doing so far. It was +9 actually.. maybe not the best entry. Closed it manually cuz of 00 level and previous hammer. -Second trade .. Strength meter was still showing AUD very strong.. but USD not so weak as before, it was placed 4 on the strength meter.. Probably because of the retracement on the trend. I took some signals like a bounce on MA and TRENDLINDE.. a Doji right on there and Inside bar....

Hi guiyee,

I really do not understand very well your trades because it is mixed with other indicators but the first one I see is kind of risky for very few pips, where did you pust your stoploss? The second one some indicators were red in your entry, there is no space, the right entry is where Juan is showing us. I dont really follow dojis, or inside bars, just trade what I see. Your entry was like trying to get a pullback or maybe is another system that works for you.
  • #352
  • Jul 6, 2016 10:57am Jul 6, 2016 10:57am
.

GBPAUD Short +61

Entry below DS2 candle closed below, confirmed, indicators agreed, space.
  • #353
  • Jul 6, 2016 11:01am Jul 6, 2016 11:01am
Quoting blanca
. GBPAUD Short +61 Entry below DS2 candle closed below, confirmed, indicators agreed, space.
what do you think about spread gbpaud its big to me is on ecn account 3.8 and commission
  • #354
  • Jul 6, 2016 11:07am Jul 6, 2016 11:07am
audusd +3
This is an example of a bad trade entry was 10 pips after the 000 and should be 5 pips
also not much space to win reach DR1
I went out with +3 looking not lose
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15 error.png Size: 58 KB
  • #355
  • Jul 6, 2016 11:12am Jul 6, 2016 11:12am
.

Mine is 3.7 but without commission, adding a comission would be too much, you know a long time ago we could make entries directly I miss those times. But we also have with better spread the gbpjpy, eurjpy they move fine too with lower spread. you look amazingly well all the trades, if you have a good money management like in the AUDUSD example you showed me, if you see it was like a 1 to 1 which worked fine, right now is hitting pivot. You are already looking for the right things and doing the right stuff, youŽll be fine.
  • #356
  • Jul 6, 2016 11:14am Jul 6, 2016 11:14am
... we need multiple screens simultaneously to see parities I have only two screens ...
someone knows the indicator that allows two graphics on two screens in mt4
  • #357
  • Edited 11:29am Jul 6, 2016 11:14am | Edited 11:29am
Quoting blanca
{quote} Hi guiyee, I really do not understand very well your trades because it is mixed with other indicators but the first one I see is kind of risky for very few pips, where did you pust your stoploss? The second one some indicators were red in your entry, there is no space, the right entry is where Juan is showing us. I dont really follow dojis, or inside bars, just trade what I see. Your entry was like trying to get a pullback or maybe is another system that works for you.
I put my stoploss on the first one below the entry candle.. thats how i have been scalping and getting almost 1:1 risk/reward

On the second one, its just a way i liked to trade.. But its not the way i intend to trade this system.. I just thought that this was the PRICE ACTION you were talking about.
I have noticed that when there is a pullback on a pair that Strength meter is showing a strong currency against a weaker one and price reaches a Key level - Trendline - MA - Pivots.. etc.. Also adding a Doji, Inside, Outside bars, hammers, etc.. Seems like a good confirmation of a bounce..
By the way, the space i see on this trade, it's previous high and follow trendline.
I think this is a confusing method to show it here anyways.

So what do you mean by price action then?


BTW on that GBPAUD.. I guess i understand better what you mean by space. You mean space where you dont see nothing on the chart but just a blank area.. where you can aim to next Key level ??
Where did you place SL?

Sorry i'm confusing you a bit with my charts and questions..
  • #358
  • Jul 6, 2016 11:29am Jul 6, 2016 11:29am
Quoting guiyee
{quote} I put my stoploss on the first one below the entry candle.. thats how i have been scalping and getting almost 1:1 reward/risk On the second one, its just a way i liked to trade.. But its not the way i intend to trade this system.. I just thought that this was the PRICE ACTION you were talking about. I have noticed that when there is a pullback on a pair that Strength meter is showing a strong currency against a weaker one and price reaches a Key level - Trendline - MA - Pivots.. etc.. Also adding a Doji, Inside, Outside bars, hammers, etc.....

No problem, it is so great to have a place to learn like this forum, price action is a very difficult thing to achieve that only thousand hours of chart observation can give you, look at juan or copi charts they are very clear and clean, they always spot the right places and even though juan got few pips he is always doing the right thing.

In GBPAUD you can see lots of space, that gives you more profit, if you take the risk anyway wouldnt you like to take more profit? but a 1 to 1 risk is fine to start. The dojis, or hammers, let me tell you my personal experience, before Steve Nison introduced the japanese candles which btw I had the chance to meet him in one of his conferences, traders used to trade well, even without candles, they used bars, also formations, etc.

But we are in 2016, think what happens right now, we have datafeed made with algorithms, behind the datafeed we see there are no people or emotions like we used to have a long time ago. So everyone has a respectable opinion about how reliable candle formations are but right now I am a high frequency trader, candle formations wont give me money. I had to evolve or die what we are doing here is the basics, the core of pure action of price and this works all the time, it worked when I started and it works now.
  • #359
  • Jul 6, 2016 11:47am Jul 6, 2016 11:47am
Quoting blanca
{quote} No problem, it is so great to have a place to learn like this forum, price action is a very difficult thing to achieve that only thousand hours of chart observation can give you, look at juan or copi charts they are very clear and clean, they always spot the right places and even though juan got few pips he is always doing the right thing. In GBPAUD you can see lots of space, that gives you more profit, if you take the risk anyway wouldnt you like to take more profit? but a 1 to 1 risk is fine to start. The dojis, or hammers, let me tell...

So i haven't been taking trades on the right spot? I thought i was

Yes i know what you mean.. analyzing dojis, hammers etc, have played against me many many times.. thats why i changed my ways. But i just thought thats what you meant on price action, thats why i uploaded that example haha

So price action from the point of view of a Frequency trader, would be watching the candles, how strong they move and how they react on key levels? Would it help to watch 1 min chart or tick chart?

Frequency trading ftw!!
  • #360
  • Jul 6, 2016 12:10pm Jul 6, 2016 12:10pm
There are many ways, maybe you could read some books, there are plenty,

. There are here also threads of price action here in forex factory. Dont worry you will be fine.
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