Inner Circle Trader's Pro Traders Club 2012 - 2013 Series

damagecontrol90 · January 15, 2013, 3:26am

Here is an example of WW with no apex. I am stalking WW5 to fade long.
Actual Pattern name, Flag - Continuation
So far symmetry AB=CD(blue lines) comparing the distance and time are equally matched.
Red lines are showing price projection from previous impulse wave extended into the future from WW5.
Notice where 1-4 WW projection converges with price projection.
1st target objective is WW4 closing 1/2 of position.

WW 3 to 4 will be used to measure reflection for possible WW5 termination.
Look for Stochastic Divergence at WW5 for confluence.

This is 3 price patterns converging into 1.

Can it really be this simple?

TMoneyBags · January 15, 2013, 3:29am

PipNRoll:

I applaud you for being truth to yourself and accept that you make a mistake(s). Everyone had the same experience as you do. Nobody… I repeat …Nobody is immune to this…Being truth to yourself and realizing your mistakes is a big step that you can take. Some people won’t admit that they have loses or they think they don’t lose in which they are living on denial and will have a hard time fixing what is broken or what is not working.

Having said that, if you now recognize what went wrong on your trades, what are you now going to do to at least minimize your losses? I said “minimize” because you will have losing streak again but how would you handle this? We can’t win when our mind is so desperate to get back what we lose. We are very very emotional about it. Our ego is hurting (well, maybe not much for a women I guess…lol). I think what you need to do now is just to completely stop for a few days or even weeks before trading again. I think you should give yourself a good amount of time to reflect everything what you did wrong and what you did right.

Focus more on yourself at this point because if your mind is not clear right now, you will have a hard time focusing on looking a good set up. Don’t worry, the market is not going anywhere. You won’t miss anything. There is always a good “opportunity” around when you can see it clearly.

Just my 2 cents base on my own experience

That is the truth and the key to being successful in trading!

damagecontrol90 · January 15, 2013, 3:50am

Possible WW5 to fade long at NYO for hit and run.

TopFroxx · January 15, 2013, 3:55am

well, i’m short in the meantime at least on fiber

peterma · January 15, 2013, 4:14am

Went short at 3370 - 15pips stop for a ‘cheap’ entry -ote area from asian high.

Type 2 bearish div on 15 min / smt div on cable/fibre - fibre reluctant to go back up to Asian high same as cable.

Do’nt like trading pre-news so am target is 3335 - let’s see what happens.
(the reason for tight stop - if it goes to 3385 then 3400 is in sight and my trade premise is wrong.)

peterma · January 15, 2013, 5:06am

I am still in there - glad I took a very small position

damagecontrol90 · January 15, 2013, 5:16am

I was anticipating a push down on a smaller WW5 for a possible long at NYO, however, zoomed out, going to skip NYO and wait to see how this WW4 unfolds.
If WW5 comes into play then I will be looking at riding the continuation short.

TopFroxx · January 15, 2013, 5:16am

your 15 pips should have been stopped out though

mostwantedpips · January 15, 2013, 5:46am

Just took a short on fibre @ 1.3380.
Lots of reasons for short
Smt divegance did not incude a pic, but can be seen on 15 min
Gartley Pattern
Weekly OTE
Reflection on 4hr
IT-MS broke to the downside on 1 and ST on 4HR MF is down
Wolfe Wave
USDX retest of KS/R level @79.40 plus OTE on 4HR 79% retracemnt
NO KEY SPEECHES TODAY OR IR announcement
Dropped all risk to 1%

mostwantedpips · January 15, 2013, 5:51am

Took 30% off @plus 35 pips will take another 30% 1.3330 ish

TopFroxx · January 15, 2013, 5:56am

i’m in that one with you bud. did not take anything off yet though. expecting a bigger move. too clean levels and price inefficiencies to the downside. a number of targets all the way down to 1.3150

mostwantedpips · January 15, 2013, 5:57am

I read EVERYONE’S messages today and wanted to really thank you ALL for your contuned support and great advice.
It really means a lot for me. Thank you
This one of the reasons why i have grown such a affinity to this threads is because of it’s wonderful members !

mostwantedpips · January 15, 2013, 5:57am

I agree with you completely, but after that beat up i want to bank something

TopFroxx · January 15, 2013, 5:59am

ya, i totally understand and that’s what i thought good job gettting back on your feet!

mostwantedpips · January 15, 2013, 6:07am

Thinking about it, if this going to be a down week and we have posted weeks high on Monday/sunday and traded lower today then maybe the trend will continue towards the end of the week! We talking with a bit of luck 300 pips or so

purplepatchforex · January 15, 2013, 6:10am

Hah, just as I thought, I’ve not looked at the forum since Christmas, I’ve been focusing on my trading, but just as I thought most of you guys are all over the place, soon as I heard Wolfe Waves mentioned, I knew the thread would be littered with Wolfe Waves, and no surprise I was right.

Personally I’m not a fan of Wolfe Waves, but that is by the by, but the point I want to make is that most of you are trying to use every single tool on every single timeframe, or even worse looking at weekly charts and COT analysis and trading off the 5 min, that is WRONG, they do not go together.

You must get your heads around the basics and know what to use and when to use it.

ICT has done a matrix of this in TD4 - USE it.

Traders Development Part 4

I use Asian high and Asian Lows Daily TF SR, MS, MP, and I use a couple of indicators to confirm my H&S patterns, the most reliable pattern there is, it’s part of market profile, H&S and MS go together hand in hand.

That is all I use, and it didn’t stop me bagging exactly 200 PIPS last week on that nice move, and I only bagged 200 PIPS exactly because I thought it looked cool on my trading record, it was quite clear there was a little bit more in there, but that 200 PIP marker will serve as a milestone.

SO get the basics right, build up from a foundation, is your foundation isn’t right, your trading will collapse.

TopFroxx · January 15, 2013, 6:21am

don’t let yourself get influenced by me!

TopFroxx · January 15, 2013, 6:23am

purplepatchforex:

Hah, just as I thought, I’ve not looked at the forum since Christmas, I’ve been focusing on my trading, but just as I thought most of you guys are all over the place, soon as I heard Wolfe Waves mentioned, I knew the thread would be littered with Wolfe Waves, and no surprise I was right.

Personally I’m not a fan of Wolfe Waves, but that is by the by, but the point I want to make is that most of you are trying to use every single tool on every single timeframe, or even worse looking at weekly charts and COT analysis and trading off the 5 min, that is WRONG, they do not go together.

You must get your heads around the basics and know what to use and when to use it.

ICT has done a matrix of this in TD4 - USE it.

Traders Development Part 4

I use Asian high and Asian Lows Daily TF SR, MS, MP, and I use a couple of indicators to confirm my H&S patterns, the most reliable pattern there is, it’s part of market profile, H&S and MS go together hand in hand.

That is all I use, and it didn’t stop me bagging exactly 200 PIPS last week on that nice move, and I only bagged 200 PIPS exactly because I thought it looked cool on my trading record, it was quite clear there was a little bit more in there, but that 200 PIP marker will serve as a milestone.

SO get the basics right, build up from a foundation, is your foundation isn’t right, your trading will collapse.

hey. you’re back

green_as_grass · January 15, 2013, 6:34am

Hey PPF, you were conspicuous by your absence, nice to see you back.
Place has been a riot zone since you were gone

green_as_grass · January 15, 2013, 6:38am

I bailed out of my short too MWP, the divergence was putting me off, cable making lower lows & fiber not… Happy with 20 pips & will wait till NYO to get a better picture hopefully.

Btw Nice to hear your experience, I’m wondering when it will happen to me