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The Trader's Academy - by Traders for Traders

  • #961
  • Sep 27, 2016 4:29am Sep 27, 2016 4:29am
Hi guys,
I would like to invite you to my new thread where I post everyday new intraday trading levels. I use price action, market profile and orderflow to make them. You can all see if this method works for you. I think it will
Here is the thread:http://www.forexfactory.com/showthre...14#post9162014
You are all welcome there!

Happy trading
Dale
  • #962
  • Oct 24, 2016 9:10pm Oct 24, 2016 9:10pm
I hope this is the right one that Cat uploaded.

Inserted Video
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  • #963
  • Oct 27, 2016 4:29pm Oct 27, 2016 4:29pm
Just popping back in here with something I may well have included somewhere above but not sure. It's a simple rule to remember especially if you use moving averages -

Sell the peak - Buy the valley.

Doing the opposite can see you quickly getting stopped out. If anyone wants me to post one or two examples I will. Happy trading.
  • #964
  • Oct 27, 2016 4:33pm Oct 27, 2016 4:33pm
Quoting cat
Just popping back in here with something I may well have included somewhere above but not sure. It's a simple rule to remember especially if you use moving averages - Sell the peak - Buy the valley. Doing the opposite can see you quickly getting stopped out. If anyone wants me to post one or two examples I will. Happy trading.
Yes - a couple of examples would be welcome. Thanks Cat.
every Saint has a past. Every Sinner has a Future
  • #965
  • Oct 28, 2016 3:52am Oct 28, 2016 3:52am
Quoting turnip15
{quote} Yes - a couple of examples would be welcome. Thanks Cat.
No problem Turnip, I'l put them up here over the weekend
  • #966
  • Oct 28, 2016 4:05am Oct 28, 2016 4:05am
Quoting cat
Just popping back in here with something I may well have included somewhere above but not sure. It's a simple rule to remember especially if you use moving averages - Sell the peak - Buy the valley. Doing the opposite can see you quickly getting stopped out. If anyone wants me to post one or two examples I will. Happy trading.
That's what I essentially do. The downside of buying dips / selling rallies going with the dominant trend is that you never know whether you are trading into a trend change or consodilation. Since nothing is ceratin though, the best you can do is just measure your risk, make sure to have a favorable R:R ratio and bite the bullet.
Invincibility lies in the defence; the possibility of victory in the attack
  • #967
  • Oct 28, 2016 7:50am Oct 28, 2016 7:50am
Quoting BBalazs
{quote} The downside of buying dips / selling rallies going with the dominant trend is that you never know whether you are trading into a trend change or consodilation. Since nothing is ceratin though, the best you can do is just measure your risk, make sure to have a favorable R:R ratio and bite the bullet.
But you should have a pretty good idea, otherwise you're just going to get slaughtered on a regular basis not having a clue whether you're buying/selling into a trend change or not. There are ways to do this. The obvious one is whether the price has hit a major S&R level, ie, do you have a reason to think that a bottom or top has been reached. The other way I have an idea is to use moving average placement, which means knowing when the ones you use are in a buy, sell, or do nothing configuration.

This is very important, because you should never just close your eyes and hope for the best in trading, you have to have a pretty damned good reason for taking your trades, and if you are not sure then do nothing. In fact, the decision process should have already passed from you to the market by the time you take the trade - either your system gives you a signal to trade, or it does not, it's that simple. In trading, guesswork is punished, and punished quickly.
  • #968
  • Oct 30, 2016 9:04am Oct 30, 2016 9:04am
Just a quick word about some people here on FF claiming to share 90% win rate systems ie, ghostbiker. Sharing knowledge and experience here is great, I am all for it, and this trader may well be helping others, which is also great. But is she really helping by claiming to be sharing a 90% win rate without actually putting on any live trades? Because I for one would never make such a claim unless I was actually able to prove it, consistently, by posting my live trades. Some people may have found this Trader's Academy thread helpful, others not, but I never made any claims as to how successful I am or what my win rate is, because I know that what works for one person will not necessarily work for others, and although there are many helpful pointers traders can share with each other, there is never a system which will work for others as well as it'll work for the person who developed it.

This is why the likes of ghostbiker, who blocked me immediately as soon as I warned others to be wary of these miracle 90% systems, is not helping others by making such a claim, only hindering them, and it is no surprise to see that the majority of people who are sucked into these claims are newbies, whose inexperience and newness to the system has yet to teach them that the only way to be successful in this business is to evolve into it, not copy someone else and expect to make money from it overnight.

Anyone with enough experience in this business will know that what I say here is true. Sure learn from others, but don't expect any 90% win rate ( over what time period one has to ask ?) miracle system to turn you into a successful trader overnight. It has never happened as long as I've been following forex factory, and it never will. Otherwise, why would there be as many losing traders today as when I first joined up in 2010, despite hundreds of people posting 90% winning trading systems!
  • #970
  • Oct 30, 2016 12:37pm Oct 30, 2016 12:37pm
Quoting Fargus
Hidden
Fargus - GET LOST!! No advertising here!!
  • #971
  • Oct 30, 2016 12:52pm Oct 30, 2016 12:52pm
Three screenshots which should be self-explanatory.

If you don't trade as small as 1 minute tf, then it doesn't matter, as all time frames replicate each other, so you can pretty much trade an H1 chart the same as you would a 1 minute.

I've included the third, because unlike the second chart, the sell, which drops straight down to the 100 simple MA, this time the price doesn't want to, but just crawls sideways until it meets it, pops up aggressively as I've indicated on the chart, and then drops, putting in a few nice candles to trade off. This happens a lot, so watch out as lots of traders will be caught out trying to go long again at this point.

Okay I have to run. If anyone has any questions on any of these, just ask me on this thread and I'll get back to you ASAP.

The important point to make above the first screen shot, the buy, was that this was off a major MA on a major time frame. The pa was a strong indication that the price was going to move away north, and the moving averages, which had formed a valley, or at least the beginning of one, were another indication. I al;ways use a 20SMA, but you can put a smaller one in, here I've used a Hull 50, to give you an earlier indication. Best thing to do is what I did when I was working on my strategy, and use lots of MAs to see which ones work, but not many, the fewer the better, or as many as you need to help you but not so many to confuse you. Any other info about what time frames I use, you'll find on this thread, as you will lots of other useful stuff from a variety of traders.
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  • #972
  • Oct 31, 2016 10:26am Oct 31, 2016 10:26am
Very nice down trend with clearly visible resistance. According to the books, a selling from the zone 0.7080 / 95 may looks as a perfect entry …
But just be careful, because looks too obvious.
For stunt Masters .

P.S – I would not trade this setup just because the reason I wrote above.
GL to all
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  • #973
  • Nov 9, 2016 1:12am Nov 9, 2016 1:12am
Hi Cat,

Are you trading DAX today at all ?

I was following Asian session it was all red. Risk off. DAX dropped 400points right at the open. If you're trading today I'd be interested to see the screenshot of your trades. Although volatility could kill SLs that are too tight it seems as though DAX is destined to go low and even lower as London approaches.

Nice profile pic btw, I changed mine too think it goes well with my ID
...
  • #974
  • Nov 11, 2016 11:19am Nov 11, 2016 11:19am
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Quite the move.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #975
  • Edited 8:32am Dec 15, 2016 7:47am | Edited 8:32am
Anyone trading EU, the price has just hit 10,400, which as you can see is the lower level of my predicted potential bottoming out zone. I'm not saying it will hold obviously, but I am saying that according to my own analysis, it might. We shall see, as I know there are a lot of people making predictions about how low the euro will go. Mine is not a stab in the dark, it is based on a weekly moving average pattern which gives a potential bottom at this level. In addition, this level is giving us a nice inverted head and shoulders pattern on the weekly chart, inverted in that the head, formed in November last year, is lower than the two shoulders ( a higher head looking at it upside down, if you get what I mean ) a so called - hunchback head and shoulders, by me anyway.
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  • #976
  • Dec 15, 2016 7:54am Dec 15, 2016 7:54am
Quoting Piquant
Hi Cat, Are you trading DAX today at all ? I was following Asian session it was all red. Risk off. DAX dropped 400points right at the open. If you're trading today I'd be interested to see the screenshot of your trades. Although volatility could kill SLs that are too tight it seems as though DAX is destined to go low and even lower as London approaches. Nice profile pic btw, I changed mine too think it goes well with my ID
Sorry Piquant, I've only just seen this, and I guess it'd be a bit late to show you a screenshot of any trades I had on this day now . I rarely check in to this thread these days, so best in the future if you want to contact me, just send me a pm.
  • #977
  • Dec 15, 2016 8:20am Dec 15, 2016 8:20am
Quick note :

Anyone coming to this thread for the first time, you'll hopefully find a lot of useful stuff on it, not just from me, but from many other experienced traders. Referring you back to the first page, where I summarize my approach, I mention that I use a 3 second time frame as my smallest to pinpoint entries. Well, that is now not so, as my smallest is 10 seconds, which still may seem impossibly small for some, but after many years of trading it, I am used to it and it gives the the tightest entries I am able to get. The 3 second experiment was to to see if I could get into a trade that little bit earlier, and although it was successful, I found it was really to no great advantage. To those who claim that pa is just an undecipherable mess with such small time frames, as many do, this is not so, especially when one is using moving averages as I do, because it is these that give the price action shape, not necessarily the pa itself.
  • #978
  • Dec 15, 2016 12:15pm Dec 15, 2016 12:15pm
Quoting cat
One of the hardest things about learning how to trade is that no one gives a shit. If you are training to become a doctor, an engineer, a teacher or some other worthy professional, your friends and family will be proud of you and shower you with praise and encouragement, but when you are locking yourself away in some small room at home, unseen and unknown to the world for hours and hours a day, people think you are a fool, a dreamer, a gambler, someone who doesn't want to work for a living. Speak to any successful retail trader and I guarantee they...
Don't know if you're still active, but this is everything in a nutshell. Well said and very very very true!! I am speaking from personal experience!!
  • #979
  • Edited 6:55am Dec 22, 2016 6:45am | Edited 6:55am
Thought for Christmas -

Trading accurately is like weather forecasting, the longer range the forecast, the less accurate it is going to be. So an entry on an hourly chart is going to need a much bigger stop loss and will be far less precise than an entry on a 1 minute chart, obviously. Many relatively inexperienced traders risk way too much per trade for the size of their account, because they are entering trades on time frames that are too big for their account size, mistakenly believing that the larger the time frame, the easier it is to trade, when in fact the opposite is true.

So for a five minute time frame for example, unless your entries are pin point accurate, you need a bare minimum stop loss of 30 pips, especially if you trade on one of the more volatile pairs like GU, GJ, or the Dax for example. If your account size is $1000, then trading this 5 minute tf will require you to risk 3% of your capital using a 30 pip SL too much in my opinion, especially for less experienced traders ( arbitrary, so best just to say, ' as yet to be successful ' ) .

The point I am making is that very many traders I speak to are risking too much of their capital per trade, and the best way not to do this is to do what I did when I started out, with very little capital, which is to trade off of a time frame and stop loss I could afford.

If you are yet to be a consistently winning trader, and you are risking more than 2% of your capital on any one trade, then you will more than likely soon blow your account. statistically, this is a virtual mathematical certainty. Trading within your limits with strict discipline is the way to success in trading. Anything else is the fast lane to failure.

Merry Christmas!
  • #980
  • Dec 22, 2016 6:59am Dec 22, 2016 6:59am
Quoting cat
Psychology in trading is massive, any trader will tell you that, because no matter how good your technical method, you've got be unburdened with the usual demons that so many people have. Leaving that aside though, let's focus on the key technical indicators traders use. Personally I use moving averages to give my charts structure and to help me determine momentum, change of direction, and support and resistance. I use candlestick observation which can be really useful for entries and exits. Trend lines again to help determine mainly areas for entering...
Dear Cat

You are definitely hit the point!
Totally agree with you
Let Market Tell You
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