David Jefferson aka: Rave55 (Technical Analysis Trading Method)

David_Jefferson · July 31, 2012, 6:49am

stev00:

Hi all

Thanks for All the info David been reading for well over 2 weeks, can’t get enough of SMA’s, zones and candles in the wind!!

I have a question regarding this order flow strategy if anyone could answer if would be greatly appreciated. I don’t think it’s been covered already but i might be wrong.

First off how do you decide which bids offers to trade? Do you wait for price action to hit the bid and then see if there is a bounce on the 5 min chart or is it done on the size of the bid and who it’s from? [B]I have outlined a basic strategy here for trading order flow. Someone posted a PDF of my order flow posts yesterday, so check back and read that. The advanced stuff takes time to learn and is covered on my 3 month training program. If you have access to a tick chart then watch an 89 tick or 233 tick, and look for rejections. If not then use the 5 minute charts candle close… thats the basics ways. The advanced ways use other factors to decide which levels to trade.[/B]

This also brings me to my second question, as soon as you see the price hit the bid/ offer do you take it or wait for the candle to form first or will it be to late then. [B]I prefer to take it as its pretty much there, I don’t worry about getting it to the very last 0.1 of a pip. But there is basic ways to trade them, and advanced ways to trade them.[/B]

Sorry if these have been covered before I couldn’t see them, didn’t want to clog up the thread with questions already covered.

Thanks in advance

Blue typing above is my answers.

zwara · July 31, 2012, 7:37am

Bids @ 1.5670-75

These ones didnt have the strenght to make the move :S too bad i got entry on those ehehe

OF wont win 100% nothing will so let’s move on…

traderjosh · July 31, 2012, 7:38am

Yeah I think those old levels just below it were still in play…unfortunately

traderjosh · July 31, 2012, 7:42am

.60-.65 were OF levels from US Session

zwara · July 31, 2012, 7:44am

where you got that info ?

traderjosh · July 31, 2012, 7:47am

Davids blog. I think he gave the link earlier. Fxjefferson.com

zwara · July 31, 2012, 7:51am

nop the ones played there were the ones i mentioned…

alcasio2002 · July 31, 2012, 7:54am

there is an option barrier at 1.5660, so you could have played this with a SL of 10, 15 pips, now you would have gotten some pips

zwara · July 31, 2012, 7:57am

my stops was 10 entrys 75 and 70 …

75 as stoped…

traderjosh · July 31, 2012, 7:57am

I took the trade at 75 and 70 i was stopped out on the first trade but i moved my SL down a bit when i noticed there was some levels of interest at 60-65 so i am still in the second trade.

David_Jefferson · July 31, 2012, 7:58am

1.5670-75 are still in play.

The low made was 1.5663

alcasio2002 · July 31, 2012, 8:00am

i managed to bag 5 pips, on 2 positions, but only 3 were mine, the other 2 went to the retailer… anxious to see what will happen with U/J

David_Jefferson · July 31, 2012, 8:00am

75 stopped yes. 70 is still in play and you should have booked at least 5 on that.

David_Jefferson · July 31, 2012, 8:02am

70 gave 5 tops. 75 got screwed with lower bids…

zwara · July 31, 2012, 8:02am

yes i should add booked those 5 well but i didnt sl still off there… not looking good for the moment…

zwara · July 31, 2012, 8:05am

got hammered -20 pips on there :S

life goes on…

AthenaFx · July 31, 2012, 8:06am

It was pretty hot on the 1.5670/75

Exited @1.5675

Now 1.5656

I trust more the Swiss barriers.

David_Jefferson · July 31, 2012, 8:07am

I trade 3 contracts as stated before.

1 gets closed around 5ish pips, the 2nd gets closed around 8ish pips and the other gets left to ride if possible. The stop gets trailed all the time.

So price moves around +5, the stop get moved to entry and 1 contract closes. Price moves to 8-10 pips, the stop gets moved to +5 and the second contract closes. For every 5 pips price moves, the stop moves 5 pips on the last contract.

David_Jefferson · July 31, 2012, 8:14am

I wont be around for the rest of the day. Got to much stuff to get sorted and done for my big day on Monday.

alcasio2002 · July 31, 2012, 8:17am

i managed to open 2 positions on the G/U at 1.5670, but 3 it’s almost impossible to open manually… and fortunately, i “managed” to sell one position at 1.5675 instead of buy, so i got there another 5 pips, but at first i regretted that