David Jefferson aka: Rave55 (Technical Analysis Trading Method)

[dennis14685]

@gs8888: If the market is so flat on a particular day, why trade on that day? Ie, are we not supposed to wait for the really good setups? (as suggested in ICT thread)?

@traderjosh: “more leverage”. I thought more leverage was bad, not good?

@BidDiddler: I didn’t say I need to match the banks, just take lions share of the day’s range (and yes, I would consider 75% of the move a lion’s share). But you have picked up a little on my situation.

I suppose my viewpoint is that I’ve always seen scalping as more risky, more work (as in # of trades per day). However, I can see how you guys are doing it: fix the $ amount to risk (or % equity), combined with a small stoploss equals a larger position size. Trouble is, psychologically, I’ve never been happy specifying the risk to lose, but thats my perspective… your responses have been enlightening, I’m glad I asked the question! I’ll think about it and try it (prolly spend alot of time thinking about before trying). It is a different style of trading after all.

i always thought scalping was risky, i have learned from this thread to trade the trends early on days of momentum and use order flow as an option for slower days and mix it up sometimes do both…Davids thread is Gold

[dennis14685]

is this not a good market for some pro money, with low liquidity conditions, to take advantage of low vols and move i
price about a little - maybe to get orders filled/business done? Obviously business o/s the markets is still going on eg cross border business which requires fx transactions.

what is eg cross border business?

[Biker883]

Hi Richard,
This is very good, however could I abuse with some suggestions.
Would it be possible to have the lines to be draw for the current day only, It would clear up the screen a little bit.

As per David post on his blog it would be great to have the levels he mentioned.
“Start of by marking the previous days high and low and previous days open price and today’s open price. Also mark of the previous weeks high and low only.”

Regards

Gerry

@Richard87

Hi guys, I have been scripting a bit, I just made an indicator that if you edit a text file, it wil automatically add a horizontal line to your chart

the indicator checks if the file is modified by the filesize, so if it seems to not work just add a comment or something.
also, if it cannot find a price, it wont add a line for the symbol…

todays levels…

So save the Option_lines indicator in “C:\Program Files (x86)\OANDA - MetaTrader\experts\indicators” (Change “OANDA - MetaTrader” for whatever broker you use…

save the txt file in .\expers\files

Enjoy

indicators.zip (5.8 KB)

[coolsjc]

The bid is where you want to buy, and the offer is where you want to sell.

Bids/Offers at specific prices wont cause 50-100+ pips moves, that’s not how it works. The bids/offers are orders belonging to the pro money, as price hits one of these levels it will cause a small reaction in price as the bid/offer gets filled and the transactions take place… thats exactly what you are trading…[B]“the reaction”[/B] this could be from 5-20-30 pips depending on the size of the transaction (bid/offer) sitting at that level.

What you are trying to do is piggy back the banks or funds, or corporates ect ect bid/offer transaction and profit from it.

So if you Bid’s example above for EUR/USD… the bids are @ 1.2200-10, you would buy if price hit 1.2210 and also buy if price hit 1.2200 and trade the transaction reaction.

Well explained. Thank You.

[dennis14685]

Has this thread gone on holiday? It’s been like a wasteland these last two days! Maybe everyone is trying to read up on OT! I put myself in that category but would be very sad to lose the thread on correction zones and BB zones. :17:

I have not left for a moment, i am trying to catch up on order flow

[zwara]

so in the USDJPY move we should expect moves high to the 20/30? or more ?

[BidDiddler]

ignore this post i missed out one part, and cldnt be bothered to write it out again.

here instead is a pic of fibs in real life…

[PREDITER]

ignore this post i missed out one part, and cldnt be bothered to write it out again.

here instead is a pic of fibs in real life…

I quoted David, it wasn’t my explanation I just copied it from the first few pages.

[Stugeo]

ignore this post i missed out one part, and cldnt be bothered to write it out again.

here instead is a pic of fibs in real life…

LOL nice one !

[Richard87]

Hi guys, updated the indicator with lines just covering the current date, and added a text label containging whatever is in the Comments collumn in options.txt

Had some problems with attachments, but check out this link:
https://docs.google.com/open?id=0BzvHB2I-HikSWG1XZktSTzNvdjg

[fiber]

Anyone trading Asia tonight. Could meet in chat room?

[gs8888]

Anyone trading Asia tonight. Could meet in chat room?

Im up for that.

[fiber]

Im up for that.

Im over there now

[BidDiddler]

I quoted David, it wasn’t my explanation I just copied it from the first few pages.

yep i realised that, after which i was started to detail it a little better ie each diff scenario with respect to which sma in the zone, then had to shoot off, so thought a pic wld save my skin.

happy trading.

[TraderSan]

The USDJPY order flow @ 78.00 triggered.

What should my SL have been? I know profits are tight, I was stuck in a dentist chair when trade triggered. Had TP of 12pips and sl of 10pips, so still in the trade…

I have signed up to Davids 3month course, hoping to learn much more order flow in the next few months

[TraderSan]

Hi guys, updated the indicator with lines just covering the current date, and added a text label containging whatever is in the Comments collumn in options.txt

Had some problems with attachments, but check out this link:
https://docs.google.com/open?id=0BzvHB2I-HikSWG1XZktSTzNvdjg

This is fantastic!!!

[River_Coins]

Did you buy or sell? Could you please point me to David’s basic OF stuff that people are starting to trade here? I’m a little lost and trying to find the start of the discussion as at the moment I have the middle and end bits. I’m onboard as well with the OF course.
cheers

[River_Coins]

The above message was to TradeSan re: the usd/Yn trade

[traderjosh]

Did you buy or sell? Could you please point me to David’s basic OF stuff that people are starting to trade here? I’m a little lost and trying to find the start of the discussion as at the moment I have the middle and end bits. I’m onboard as well with the OF course.
cheers

RC, you do what the big banks are doing. If it says Bid you buy. If it says offer you sell. You are looking to scalp a few pips on the pullback.

[River_Coins]

Thanks< traderjosh, I get that part but where is the info on the bids? How can you see the bids and offers? Sorry, I know I’m a bit slow.
cheers