Excellent information so far David.
Great explanation followed up with detailed charts showing entry and set up
Thank you for posting and helping us understand how the Pro traders look at things
Hi David,
Great to see you are back 
ā¦ will be following with interest. Anyway i had register 4cast, thanks for the tip. The site is very great !! ā¦
Hey Dave welcome back. Glad to have found you here. Sorry about the Donna craziness some people over there just are not worth helping!! Cheers keep up the good work!!
Jeff
Dave after reading your complete thread a week ago and following it for the past week I saw many similar ideas in my own trading!! I too use the same MAs and look at charts as you look at them . This was taught to me from a mentor of mine who too worked for a hedge fund in NY city!!! I look forward to joining you in this discussion and learning more from your teaching!!!
Cheers from your friend in Canada!!!
Jeff
PS Here is my trading set up!!
Hey Dave,
Good to see you back up and running.
I was never a fan of the other forum much, but I was turned on to your thread by a friend.
Letās hope this works out for the best :- )
Charles
You guys put me to shame, with only trading off my laptop at work! lol
I have been trading for a few years now, but just not been able to find my calling, mainly price action was working for me well, but there was always something missing, plus with working full time running my own business it was hard to stick to my trading on a daily basis. But since using these techniques it has seemed to work well in with my daily work. Up some nice pips now on the audusd trade, so am pleased with my trading this week so far.
Donāt think I will be trading tomorrow as may be off to the track for a play in my kit car if the weather stays fine, so good trading.
joffie
Hi David,
Please explain how do we find the correctin zone here using MAs, and what is
correction zone.
I also do not understand the statement " Stay above the correctionā¦
ā¦this down to around 1.550ās
That is from your first few posts.
Hey jshear, hows things!
Nice clean trade desk set up you have there. Very nice, clean and fresh!
I have been through many a set up in my time, I had a 8 monitor set up as well as a BT3D at Barclayās, and a 4 monitor set up at another. During working in the city I had a 3 monitor set up at home (thatās the pic I posted). But since then I upgraded to a WOOOPPPPING 4 monitors :60:
That does me as Iām just slapping the same 4-6 instruments each day anyway. Plus I like to get out the home office and walk the dogs and do a bit of mountain biking during the dayā¦ sometimes both, but my dogs pulled me over the other day and I had a nice close up meeting with the pavementā¦ (side walk).
Look forward to working and trading with you here.
David
Hi devgtx460
Listen, this is going to take a bit of time to explain and show. Itās not something that Iām going to be able to show you and help you understand in full over night or in 3 or 4 days. It will likely take 2-3 weeks for you to fully understand what I do and how I do it, and even after that you will likely have loads of questions. So please do bare with me, I donāt want to fill your head full of sh*t in a short period of time and leave you to it! I would prefer, if you could give me a bit of time to progress, and explain things as I go, and that way you will get a proper understanding.
This is my first day hereā¦ I spent around 2.5 weeks at the old forum which was wasted by [U]in my opinion[/U]ā¦ greedy mods/forum owners who were only interested in the making a BUCK, rather than, really helping their members as they claim.
Stick with me devgtx460, you wont regret itā¦
Glad you could join us Charles!
Hello Dave,
Iām looking forward to see your work and how you trade.
All the best in your journey here at Babypips :57:
Hi David, it seems as if the whole caravan is on the move from back there! Do you know if they intend to leave the thread in situ? Good Luck and donāt spend too much time driving around!
What do you think of this setting up on the gbpusd- price has started to consolidate at the top of the 4hr down channel, and now seems to have formed a triangle at the top. Bulls have had control of the market, could we see a break to the upside of this channel and triangle.
joffie
Hi David, I am always eager to learn new things. Subscribing.
And me too - I am following too from the other place. Thank you David for you inside indeed! Awesome.
Campervan more like!
I have no idea if they will leave the old thread open or not.
To be honest I donāt really care any moreā¦ [B](I have deleted the rest of this post as it appeared bitter, and I donāt want to come across that way as thats not me!)[/B]
Hey joffie,
As you know I only take notice of the daily chart, the 1 hour chart and the 15/10 minute charts.
The triangle you have outlined looks sweet, but price looks a little out stretched away from the 100-200 on your 4 hour, and even on the 1 hour. I prefer to trade the pro money zonesā¦ remember what I said about buy low, sell high, and the questions to ask yourself before you take a trade?
Iām not saying price wont or canāt breakout here to the upsideā¦ but re-read my post about Pro money v Retail money, and how to figure out who drives witch moves.
Also I only trade London, as we are outside of that and also approaching US close, I wouldnāt touch anything as trade volume as significantly dropped.
My best advice is to stand aside and let the over night session take place, then re-assess in the morning ahead of London openā¦ you will have much more price action and information to work with then, as well as more trade volume.
David
I will take a look in the morning again, the chart I posted was a 1hr chart, but yes that would be a 4hr triangle, and I would look for a 1hr entry. But I want to change my trading to suit this stlye of trading. Yes I see what you mean the retail money is moving the markets in this triangle not the pro money, like the last 3 up moves. And thats where I want to be getting my trade entries at the pro money, as I now know after the gbpusd buy and audusd buy just closed.
cheers joffie
Hi joffie
Thatās perfectly fine, there is nothing wrong with the 4 hr chart in terms of intraday to suit your lifestyle or trading style. At the end of the day, the analysis can be done on any time frame starting from the 1 hour up.
But your doing great from what I can see on your old forum posts and on hereā¦ so stick with it!
OLD POST:
As I said on my previous post, I trade using a few tech tools, which are not a system, but a way of analysing the market, and then making decisions based on my opinion.
I use the 50-100-200 SMA, I dont give a damn about what order they are in ie: 100 to be above 200 before I go long, or 100 to be below 200 before I go shortā¦forget that crap, it means absolutely nothing intra-day!
What I first of all look for is price to be moving above or below the 2 most important MAās, the 100 and 200. This is my first clue that the market maybe changing. A move above or below one of these MAās is NOT a set-up or entry signal, it is just to try and define market direction over the medium term in order to establish a good trade location and define risk. What Iām looking for is a retracement to take place back below or above the recently crossed MA, and that retracement to hold (fibs) or a consolidation to take place above or below the MA.
Lets take a look at a few example to get a better picture:
Spot Gold 1 Hour Chart
EUR/USD 1 Hour Chart
On both these charts, trades were established and initiated near the 100 SMA using entry methods anticipating trends, not waiting for trends to happen and then getting in, but actually anticipated the move and getting in, which gives you great trade location, define risk, and catches the meat/best moves.
Iām not finished with this section, but that will do for now.