Here’s the direct link for those who want to check it out: CME Group DataSuite3�
Not bad for scalping the 1min on my micro account while I wait for a real setup, ha ha…
ITs getting easy for you… 13800 seems a tough nut to crack right now…
Yeah, see what the rest of the session holds…I dunno. If you look at the candles on the 1hr it shows how it’s been sort of a tough day. I thought we would come down this week, but still I expected some sort of retrace.
Could there have been a more obvious spot to retrace to today? When it gets out of this .50 -61.8 area, it’s most likely going to continue in the direction of the break out. True reversal above 61.8 or, the retrace is over and continuation of trend.
I stuck to my simple plan of trading the break out of the .50 - 61.8 fibb area.
So far it’s been a straight 30 pips, no draw down. I like that it’s in the direction of the trend.
Original SL was about 35 pips. I closed 1/3 partial profit +29, locked BE and letting it run. Might grab over 100 pips on this …back to the weekly low 1.3750 area.
Yea i was looking at the 50 fibo level yesterday night (london) was about to put a short on at th 13950… but didnt. Im a sily boy lol.
I see throughout this thread the change the indicators you use has decreased… which ones do you use jus vlume and fib levels ? and is it just eur/usd ? soz for the questions mate.
1.3950 would have been a nice entry just as it double topped there at top of the range, 61.8.
Right, I mainly trade this method. Just Volume, fibbs and s/r that I draw myself. Also simple patterns. Head and shoulders double tops, bottoms etc.
I found this to be the best way to trade and puts me in lock step with the big money …usually, lol.
But I do have other charts up with indicator based systems, and I may take a signal from there to get entry in a direction that is confirmed by this method.
I stay with one pair because of ability to focus. I like just trying to tune in to what the pair is experiencing. One story to follow…I’ll follow it much better. Don’t worry about the questions, since it seems like you are serious about learning.
Banked my next 1/3 at +70 
If we get to weekly low now…just a bonus, I’m locked BE. Last trade of the week probably…been nice.
I really hope folks are learning.
YEa man, defo pleased that you commented on my thread to show me your thread lol… just see your last post… i was looking at the same thing based mainly on what notes iv been taking from the thread.
Hopefully i can introduce this into my trading style, im defo serious about learning. I think discipline…as in binge trading and creating an imaginary set up just i havent taken a trade today is my bad habbit lool… and confidence to take a trade. Like the one you posted … i had a sell on at 13950 but cancelled it … i guess with time.
But appreciate the posts mate… what time do you mainly trade ?? or more importantly what are active hours. Im based in london.
Sorry also, i have been looking at your charts etc, but could you tell me what determines your entry ? i.e breakout candle or volume increase on the wicked candles. And the same for the exits ?
Cheers mate
Hey JG, I mainly look to enter trades starting around London market open. Based on the usual cycle of the markets, that’s when either an expected move will begin/confirm, or a [I]test [/I]of levels, which can give you a conclusion and a direction from the Volume/candle reaction.
As far as entry, there is not one way I enter a trade. The ingredients are having a direction determined through background anlaysis, and entering at the best price, and most probable starting point for the move. Again I have to stress UNDERSTANDING what is moving price, rather than black and white entry rules.
The most common however would be the High Volume/pins reaction at s/r, THEN A SOLID 5min CLOSE IN THE REVERSALS DIRECTION ON MEDIUM VOLUME. I posted many charts pointing out this entry candle, it’s pretty common for me…but not a requirement if other factors are in play, like patterns or break of consolidation in the direction of an expected move, etc.
Exits…I look for obvious s/r levels to TP, and I look out for high volume to come in with no further move in my direction to possibly start taking profit off. I also like to leave some of the trade on to run to a bigger target, if the larger TF confirms.
Ok thats clears things up a bit. Thanks for that
Happy Trading
Just been reading another thread on another site by a guy called Malcolm, maybe thats the guy you where refering to, he has also said to read the Tom williams book, did you have this as ebook by any chance ?
Yeah that’s him. The book is called Master The Markets. Sorry I don’t know a link to download it, I just have a pdf.
Ok yea no probs, can i have that ? if you dont mind of course. Yea his thread is pretty good, trades a bit different to yourself it seems but successful in the same respect. His analysis if what he sees in the charts is great. You guys seem to see things very early before everyone else LOL
Pete,the book is Master the Market third edition?
Yes MTM 3rd. hmm, I can’t attach it to this post because of a security token? Anyone know how I can share this pdf?
You could put it on rapidshare. I just don’t know if you need to register first.
Did you take any trades on GBPJPY this morning?
Master The Markets V3 Download: https://petefader.egnyte.com/h-s/20101103/2959a9f745d84e90
There ya go. There are some differences since we are trading forex, but still there is alot to learn, and gets you thinking about the markets in the right way. The good stuff starts on page 20.