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My Line in the Sand

  • #121
  • Sep 19, 2016 1:28am Sep 19, 2016 1:28am
Quoting stevepatt
GBP/JPY M5 Long Trade This will be my only Trade this week, I'm going to be away until the weekend. {image}
Hi Stevepatt,

Thank you for your suggesting brokers.

Your chart shows the market structure LH, lowest, HH,HL printed on the chart. Are they printed by any indicator? If yes, please post the indicator.
Practice makes a person perfect
  • #122
  • Sep 19, 2016 1:42am Sep 19, 2016 1:42am
Quoting simnz
{quote} Hi Stevepatt, Thank you for your suggesting brokers. Your chart shows the market structure LH, lowest, HH,HL printed on the chart. Are they printed by any indicator? If yes, please post the indicator.

Hi Simnz,

No, I draw them in myself.
  • #123
  • Sep 19, 2016 2:18am Sep 19, 2016 2:18am
Quoting stevepatt
GBP/JPY M5 Long Trade This will be my only Trade this week, I'm going to be away until the weekend. {image}

GBP/JPY M5 Long Trade Result

This was not a good Trade I was FORCING a Setup and getting in too early.

I got lucky with the result.

​I will be back next weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Sept 16 GBP:JPY M5 Long Trade Result.png Size: 142 KB
  • #124
  • Sep 24, 2016 7:44am Sep 24, 2016 7:44am
I've only had the one Trade this week and have not been looking at the Charts.

As long as "I Keep Trading in Line with M5 Structure" ​I should do all right.

Monday was the most confusing day, in terms of Structure, but even then as long as I have the patients to wait for a "Structural Bias" to form I will have more Winning than Losing Days.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 24th Sept 16 GBP:JPY M5 Observations.png Size: 129 KB
Click to Enlarge Name: 24th Sept 16 GBP:JPY M5 Observations 2.png Size: 80 KB
Click to Enlarge Name: 24th Sept 16 GBP:JPY M5 Observations 3.png Size: 91 KB
Click to Enlarge Name: 24th Sept 16 GBP:JPY M5 Observations 4.png Size: 76 KB
Click to Enlarge Name: 24th Sept 16 GBP:JPY M5 Observations 5.png Size: 87 KB
  • #125
  • Sep 25, 2016 3:06am Sep 25, 2016 3:06am
Quoting stevepatt
I've only had the one Trade this week and have not been looking at the Charts. As long as "I Keep Trading in Line with M5 Structure" ​I should do all right. Monday was the most confusing day, in terms of Structure, but even then as long as I have the patients to wait for a "Structural Bias" to form I will have more Winning than Losing Days. {image} {image} {image} {image} {image}
Hi Steve,

A couple of questions on the screen shots you have provided.

(a) Monday
The structure prior to you taking the trade of a LH and a LL. However, the line had turned blue and you went for the buy.
Is this because of the HH and the HL right before you took the trade? Not highlighted in your screen shot though.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 127 KB


(b) Tuesday
Bearish structure is quite clear

(c) Wednesday
After the shaded box, the line was still blue and price had moved up indicating bullish strength. What prevented you from not taking a buy at the first retracement? Or would you have had taken the buy and then loss -R1 and gain R2 on the way down?

(d) Thursday
Line had turned Red after the shaded box. Would you have taken the sell for a loss of -R1 and then a buy for profit of R2?

(e) Friday
Bearish structure is quite clear.

Please let us know your thoughts. Learning alot from your posts.

Zz
  • #126
  • Sep 25, 2016 4:57am Sep 25, 2016 4:57am
Quoting hishamzz
{quote} Hi Steve, A couple of questions on the screen shots you have provided. (a) Monday The structure prior to you taking the trade of a LH and a LL. However, the line had turned blue and you went for the buy. Is this because of the HH and the HL right before you took the trade? Not highlighted in your screen shot though. {image} (b) Tuesday Bearish structure is quite clear (c) Wednesday After the shaded box, the line was still blue and price had moved up indicating bullish strength. What prevented you from not taking a buy at the first retracement?...
Hi Hishamzz,

The Trade I took on Monday was an example of me forcing a Setup. The first Chart below shows what I would consider good entries.

Wednesday I would have been wary of going Long because of the BOJ Rate Policy Red News released at 4.18 GMT. The Bearish Structure that developed was perfect for taking a Short Trade.

The possible Short Trade on Thursday didn't Trigger. The Bullish Structure that developed after was perfect for taking a Long Trade.

Pay attention to Market Structure, on the TF you Trade from, as long as you are Trading with it and have "White Space" to Trade into and can TP, +2R, before reaching the nearest Swing Low/High you will do well.

By risking 2% per Trade and Averaging a return of +1R +2% a day you will make +5R +10% a Week return. If you Trade for 48 Weeks a year that is a return of 480%

This is just me I am very conservative in my approach I'm sure there are many ways to exploit this method.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25th Sept 16 GBP:JPY M5 Observations.png Size: 90 KB
Click to Enlarge Name: 25th Sept 16 GBP:JPY M5 Observations 2.png Size: 104 KB
Click to Enlarge Name: 25th Sept 16 GBP:JPY M5 Observations 3.png Size: 101 KB
  • #127
  • Sep 26, 2016 12:17am Sep 26, 2016 12:17am
Quoting stevepatt
{quote} Hi Hishamzz, The Trade I took on Monday was an example of me forcing a Setup. The first Chart below shows what I would consider good entries. Wednesday I would have been wary of going Long because of the BOJ Rate Policy Red News released at 4.18 GMT. The Bearish Structure that developed was perfect for taking a Short Trade. The possible Short Trade on Thursday didn't Trigger. The Bullish Structure that developed after was perfect for taking a Long Trade. Pay attention to Market Structure, on the TF you Trade from, as long as you are Trading...
Hi Steve,

What do you exactly mean on Thursday the short didnt trigger. What exactly prevented you from going short?

Skimming through your posts you are following a 15 pip SL and a 30 pip TP on all trades? Or is it subjective or the below the last retracement?

Zz
  • #128
  • Sep 26, 2016 1:25am Sep 26, 2016 1:25am
Quoting hishamzz
{quote} Hi Steve, What do you exactly mean on Thursday the short didnt trigger. What exactly prevented you from going short? Skimming through your posts you are following a 15 pip SL and a 30 pip TP on all trades? Or is it subjective or the below the last retracement? Zz

Hi Hishamzz,

See the Chart below for Thursday Short Trade that didn't Trigger.

When I enter a Trade I want my SL to be the other side of the Setup Candle/s 15 pips is my Maximum SL. So if the Setup Candle is bigger than 15 pips I usually skip the Trade.

As we gain in experience everyone should be looking for their own Style of Entry and Exit. Find the PA that makes you comfortable to Enter a Trade.

Everyone should be focused on seeing the Market through their own eyes and looking for what makes sense to them.
Attached Image (click to enlarge)
Click to Enlarge Name: 26th Sept 16 GBP:JPY M5 Observations.png Size: 116 KB
  • #129
  • Sep 26, 2016 2:01am Sep 26, 2016 2:01am
GBP/JPY M5 Short Trade/Result

When the Market closed below the HL my Bias was Short.

Ask the Questions

Is there "White Space"?

Is there at least 1R possible return before reaching the nearest Swing?

Wait for a PullBack and PA to Enter a Trade

I just keep doing the same things
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26th Sept 16 GBP:JPY M5 Short Trade.png Size: 128 KB
Click to Enlarge Name: 26th sept 16 GBP:JPY M5 Short Trade Result.png Size: 125 KB
  • #130
  • Sep 29, 2016 12:46am Sep 29, 2016 12:46am
GBP/JPY M5 Long Trade

I've moved my Stop Loss to BE +3 pips.

I'm aware of the BOJ Red News at 6.35 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: 29th sept 16 GBP:JPY M5 Long Trade.png Size: 117 KB
  • #131
  • Sep 29, 2016 1:01am Sep 29, 2016 1:01am
Quoting stevepatt
GBP/JPY M5 Long Trade I've moved my Stop Loss to BE +3 pips. I'm aware of the BOJ Red News at 6.35 GMT {image}

Compare todays PA and Market Structure with how things looked yesterday at this time.
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Sept 16 GBP:JPY M5 Observations.png Size: 133 KB
  • #132
  • Sep 29, 2016 1:07am Sep 29, 2016 1:07am
Quoting stevepatt
{quote} Compare todays PA and Market Structure with how things looked yesterday at this time. {image}
Steve,

Could you show us your analysis and probable trades for Tuesday and Wednesday bro? I attempted to trade your system on Tuesday but the trigger finger locks quite a bit

Zz
  • #133
  • Sep 29, 2016 1:11am Sep 29, 2016 1:11am
Quoting stevepatt
GBP/JPY M5 Long Trade I've moved my Stop Loss to BE +3 pips. I'm aware of the BOJ Red News at 6.35 GMT {image}
GBP/JPY Long Trade Result

+2R +30 Pips +4%
Attached Image (click to enlarge)
Click to Enlarge Name: 29th sept 16 GBP:JPY M5 Long Trade Result.png Size: 116 KB
  • #134
  • Sep 29, 2016 1:16am Sep 29, 2016 1:16am
Quoting hishamzz
{quote} Steve, Could you show us your analysis and probable trades for Tuesday and Wednesday bro? I attempted to trade your system on Tuesday but the trigger finger locks quite a bit Zz
Hi Hishamzz,

I will take a look this evening, I haven't got the time at the moment.
  • #135
  • Sep 29, 2016 3:02am Sep 29, 2016 3:02am
Quoting stevepatt
{quote} Hi Hishamzz, I will take a look this evening, I haven't got the time at the moment.
No worries sir!

Zz
  • #136
  • Sep 29, 2016 1:20pm Sep 29, 2016 1:20pm
Quoting hishamzz
{quote} No worries sir! Zz
Hi Hishamzz,

As promised here are the Charts from Tuesday 27th Wednesday 28th and today.

The best way to learn this is by going over past Charts and "Reading" the Structure and PA.

Take a look at at any other Pair of your choosing and try doing what I've just done and see what you discover.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29th sept 16 GBP:JPY M5 Observations 2.png Size: 204 KB
Click to Enlarge Name: 29th Sept 16 GBP:JPY M5 Observations 3.png Size: 210 KB
Click to Enlarge Name: 29th Sept 16 GBP:JPY M5 Observations 4.png Size: 201 KB
  • #137
  • Sep 29, 2016 2:38pm Sep 29, 2016 2:38pm
I had a PM about "White Space" it is simply the Gap that is left either by a Falling or Climbing Market.

As the Market Falls/Climbs it leaves Gaps on the Bid/Offer side of the Book that need to be filled.

If the Market didn't work this way Price would simply go from point A to point B with no hesitation.
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Sept 16 GBP:JPY M5 Observations 5.png Size: 163 KB
  • #138
  • Sep 29, 2016 11:47pm Sep 29, 2016 11:47pm
GBP/JPY M5 Short Trade

As a Gap gets filled another is created.

​This video by Chris Lori explains it quite well.

Inserted Video
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Sept 16 GBP:JPY M5 Short Trade.png Size: 629 KB
  • #139
  • Sep 30, 2016 12:53am Sep 30, 2016 12:53am
Quoting stevepatt
GBP/JPY M5 Short Trade As a Gap gets filled another is created. ​This video by Chris Lori explains it quite well. https://www.youtube.com/watch?v=HGRiS-vFkhI {image}

GBP/JPY M5 Short Trade Result

All the information I need to Trade is contained within the M5 Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th sept 16 GBP:JPY M5 Short Trade Result.png Size: 114 KB
  • #140
  • Sep 30, 2016 11:05am Sep 30, 2016 11:05am
I want to see CLEAN well Defined PA and Structure.

Once I see that I keep looking for a Break of Structure a Test of Structure PA to Enter a Trade.

Which Chart would you rather Trade below?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th Sept 16 GBP:JPY M5 Observations.png Size: 199 KB
Click to Enlarge Name: 30th Sept 16 GBP:JPY M5 Observations 2.png Size: 113 KB
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