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Start Winning - Trade the Current Trend

  • #561
  • Jan 11, 2017 6:35am Jan 11, 2017 6:35am
Quoting wizlon32
{quote} I hope some of you took advantage of this move!
Closed AJ long. Add a little short. May just be a scalp as I can see this going higher.

Edit: Closedeshort for 10 pips on very high M1 volume bar. Don't want tobe greedy and get burned.

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  • #562
  • Jan 11, 2017 6:46am Jan 11, 2017 6:46am
Trying a small Long on GU based on the H1 Candle formation and high volume at the lows.

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  • #563
  • Jan 11, 2017 8:37am Jan 11, 2017 8:37am
Quoting wizlon32
Trying a small Long on GU based on the H1 Candle formation and high volume at the lows. Screenshot1.png;2135181 {image}
Thank you for sharing your thought, wizlon32
Let Market Tell You
  • #564
  • Jan 11, 2017 8:44am Jan 11, 2017 8:44am
Quoting Monokl
{quote} Thank you for sharing your thought, wizlon32
Hope I'm right! Even if it's going to go up it could go lower 1st so be careful.
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  • #565
  • Jan 11, 2017 9:05am Jan 11, 2017 9:05am
Looks like AUDUSD might be setting up on the H1 and H4 charts.
  • #566
  • Jan 11, 2017 9:15am Jan 11, 2017 9:15am
Quoting Grantmac
Looks like AUDUSD might be setting up on the H1 and H4 charts.
Short? Don't like the long option just now personally.
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  • #567
  • Jan 11, 2017 9:19am Jan 11, 2017 9:19am
Quoting wizlon32
{quote} Hope I'm right! Even if it's going to go up it could go lower 1st so be careful.
SL hit.
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  • #568
  • Jan 11, 2017 9:57am Jan 11, 2017 9:57am
Quoting wizlon32
{quote} Short? Don't like the long option just now personally.
Oh sorry I was looking at the long option. So how come you didn't like it long?

Although you could be right and it might be the start of a downward move.
  • #569
  • Jan 11, 2017 12:00pm Jan 11, 2017 12:00pm
Quoting Grantmac
{quote} Oh sorry I was looking at the long option. So how come you didn't like it long? Although you could be right and it might be the start of a downward move.
I thought AU was ready to drop at the time but you were right!

I missed the opportunity to buy GU lower down so a bit dissappointed about that. Work tends to get in the way of trading!!lol

Here is an example of 1 way I like to observe volume. Look what happens to the volume bar when the candle is dropping towards it. If there are buyers at the lows it almost looks like the volume bar is reaching out to stop the fall and then price goes up. This is buying volume coming in. And the same happens at the highs if there are sellers there. Pity we can't also have volume at the top of the chart pointing down! You can see this on any various TF.

This is my interpretation of the volume on this chart.

Box 1 - price is pushed down to new lows and buyers are waiting. Just one high volume M1 bar and price stops dropping and starts to climb. But was it just 1 high volume bar that done this or was there also more buying higher up?
Box 2 - price comes back to test the lows but again the buyers are waiting. Yes it drops a little bit further but again you can see the volume coming in and supporting it. Price then starts to rise on lower volume.
Box 3 - as price drops again the big volume comes in and drives price up.
Box 4 - a higher low and more buying volume to keep price moving up.

Thats my take anyway.

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  • #570
  • Jan 11, 2017 1:32pm Jan 11, 2017 1:32pm
Just small positions so not too risky. PA and volume gave a clue that they were running out of steam.

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  • #571
  • Jan 11, 2017 8:55pm Jan 11, 2017 8:55pm
Nice explanation on the volume interpretation. I see that happen a lot but I struggle to identify it early enough to act on it.

Nice trades on AUD, I went to bed by that time.
  • #572
  • Jan 12, 2017 3:44am Jan 12, 2017 3:44am
Quoting Grantmac
Nice explanation on the volume interpretation. I see that happen a lot but I struggle to identify it early enough to act on it. Nice trades on AUD, I went to bed by that time.
But you recognise it so thats what counts. It's probably best not to act on it too soon anyway. Just learn to interpret it and it will help to give you your bias. It will help you to jump in in the right direction.
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  • #573
  • Jan 12, 2017 6:53am Jan 12, 2017 6:53am
Ohhh this job is killing me so badly, I hardly have time to even come and read here what you guys are doing.



Keep the positive energy. trading its not for all its only the ones who persevered and chased their dream.

Trade well stay safe.
  • #574
  • Jan 13, 2017 7:35am Jan 13, 2017 7:35am
I think its about time to wrap this thread up. Thanks to those who have contributed. I hope you have at least taken something away from here that you can take forward in your trading; I know I certainly have. I think one of the best and most effective ways to develop yourself is to help others.

As stated in post 1, the main aim of this thread was to develop the system. I have done that and in the past 24 hours I think I have taken the biggest and best steps yet (however things look a bit different). Once things are tried and tested a little while from now I might share it with you in a new thread. By then I am quite confident that I will have a solid set of rules for money management and entries plus a nice set of results to show you as well as I am very confident in where I'm heading with this.

Take care and trade well.
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  • #575
  • Jan 13, 2017 8:02am Jan 13, 2017 8:02am
Quoting wizlon32
I think its about time to wrap this thread up. Thanks to those who have contributed. I hope you have at least taken something away from here that you can take forward in your trading; I know I certainly have. I think one of the best and most effective ways to develop yourself is to help others. As stated in post 1, the main aim of this thread was to develop the system. I have done that and in the past 24 hours I think I have taken the biggest and best steps yet (however things look a bit different). Once things are tried and tested a little while...

Well you are the creator so it's up to you to decide, but I still think we have a lot of room to improve. but regardless of my simple opinion I'll respect your decision whatever it will be.

stay safe.
  • #576
  • Jan 13, 2017 8:22am Jan 13, 2017 8:22am
Quoting zwara
{quote} Well you are the creator so it's up to you to decide, but I still think we have a lot of room to improve. but regardless of my simple opinion I'll respect your decision whatever it will be. stay safe.
Zwara, you are one of the very few people who contribute here. Look at the number of downloads of the various indicators and templates - that tells me something isn't right.
Also I think I have just had my "light bulb moment". I have realised a couple of things and have made even more changes. Don't get me wrong I still plan to trade the trend and get in on pullbacks but since yesterday I am seeing things a little differently and I don't think this is the right place to share my ideas - as I said already the thread is already a bit confusing I think.

Catch you later!
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  • #577
  • Jan 14, 2017 9:53am Jan 14, 2017 9:53am
Quoting wizlon32
{quote} Zwara, you are one of the very few people who contribute here. Look at the number of downloads of the various indicators and templates - that tells me something isn't right. Also I think I have just had my "light bulb moment". I have realised a couple of things and have made even more changes. Don't get me wrong I still plan to trade the trend and get in on pullbacks but since yesterday I am seeing things a little differently and I don't think this is the right place to share my ideas - as I said already the thread is already a bit confusing...
Hi Wiz. Thank you for creating this thread you have certainly helped me a lot with my trading. I wish the thread would keep going but I do understand where you are coming from and I hope to see more from you in the future. I will try and continue with the philosophy that you have created here. Good trading to all and I hope to see you all again soon.

Cheers.
  • #578
  • Jan 14, 2017 10:08am Jan 14, 2017 10:08am
Quoting Grantmac
{quote} Hi Wiz. Thank you for creating this thread you have certainly helped me a lot with my trading. I wish the thread would keep going but I do understand where you are coming from and I hope to see more from you in the future. I will try and continue with the philosophy that you have created here. Good trading to all and I hope to see you all again soon. Cheers.
Thanks Grantmac. Don't worry there are better things to come. Thanks for being a contributer.
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  • #579
  • Jan 14, 2017 4:13pm Jan 14, 2017 4:13pm
Quoting wizlon32
{quote} Thanks Grantmac. Don't worry there are better things to come. Thanks for being a contributer.
Ahggg Wizlon32, that is sad man!, thanks for everything you have done creating this thread, I still will read every of your words . i have learnt very valuable things from you. Thanks to all the contributers also !
“Stops don’t limit profits — they prevent disasters.”
  • #580
  • Jan 15, 2017 6:47am Jan 15, 2017 6:47am
Quoting Dagaco
{quote} Ahggg Wizlon32, that is sad man!, thanks for everything you have done creating this thread, I still will read every of your words . i have learnt very valuable things from you. Thanks to all the contributers also !
Thanks for your kind words mate. I hope our paths will cross again.
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