What Really Turned My Trading Around

[shahrin]

I am chinese. Lol.

well then…could you comment on my chart pls?..CF…

[shahrin]

In regards of handling news.

Always trade the reaction of the news. Never anticipate. When in doubt, stick to the technicals, or stay out.

Correlations is an advance topic. I cannot cover this until we are very clear about the technicals. We need to talk in terms of technicals to get the discussions of correlations correct.

Noted…awaiting for the ‘long post’…also your efficient indicator.
Better for this weekend reading…

[Aztrader2]

Hi guys,

today I wasn’t at screen. When i came home I saw EU movement for today…
Apart for the news, and general economic sentiment… let’s see where the Euro went down…
I posted a 4H chart with rectangles and blue line @ critical levels. What I want to say is that foundamentals affects the market, but not the way we (not so smart traders) believe. Big Boys knows if & when to sell or to buy, regardless of the news. They decide before @ which level doing it…
We (retail traders, even the smartest) can only use technical analysis and try to follow the Big Boys… And also in this case we must be careful: As we can see from the chart we have the good old “Failed double bottom” based on the daily swings…

[shahrin]

Here come the real course notes from CF…keep on reading…

[Aztrader2]

Here come the real course notes from CF…keep on reading…

YEEEESSSSSS! He’s a very, very, very CF!

[shahrin]

YEEEESSSSSS! He’s a very, very, very CF!

Absolutely true…reflected though his writing…salute to CF.:51:
Thanks CF for the indi… next to come…

[shahrin]

New input sir on the GMMA application, also the Market Profile lecture…?
What do you think of the Wolve Wave theory?

[shahrin]

FYI I will not spoonfeed. Spoonfeeding kills traders. Therefore its better that you start trading now (at least demo) and roll in the questions. This way, one learns faster.

FYI I’ve been live trading quite some time and with several MC’s that had cost me thousands…
I’ve been drunk with lots of ‘indicators’ that finally blinds me.
That’s why I stick to this thead, seeing something very different from my common views…
Just help me to ‘see’…and help us to make consistent profit…thats all we need.

[shahrin]

Now…am I drawing it right?..is the price keep on correcting on the narrow channel?..the GMMA tells to look for shorts only?

[shahrin]

-Actually it’s the H5 and M15 BarrosSwing setting…is’nt D1.
-The last LRC is projecting the latest H5 breakout…isn’t necessary is it?

• The dash lines are the psycho level or round number that might cause some resistances I guess.
• I’m not listening to the music…just idling program. but could u xplain why dont?
• The panel warns me when either M5,M15,M30,H1,H4 candle is going to close shortly…just for entry timing…
  comments?

[shahrin]

Here’s the clean one.
Is it time to wait for entry?..but where since there is no LRC projecting the broken out price?

[shahrin]

I have not fully understand the 20 pips concept since the beginning… and I dont understand where is called extreme here.
and I’m also dont really know where to draw the box…really blur now…
You said the bias is long, but the GMMA showing downtrend.This is retracement of a higher TF right? are we going against the major trend?..:15:
could you assist me visually?

[Osoman]

Hi again! My trade today is very much like Shahrins. I am short on the Eur/Jpy.

4hour
<script src=‘http://imageshack.us/shareable/?i=eurjpyh4.png&s=843’ type=‘text/javascript’></script><noscript></noscript>

zoom 1hour
<script src=‘http://imageshack.us/shareable/?i=eurjpyh1.png&s=535’ type=‘text/javascript’></script><noscript></noscript>

The stuff at the bottom is the MACD(addy) system from the babypips forum.

I am now short on Eur/Jpy, mainly because the news have been strongly in favor of JPy and Euro has been the looser today/week and the GMMA is forming a strong down-trend, with a 20pip SL.

[Osoman]

Or just wait till tommorrow for the up retracement to complete

This I struggle with, understanding when to expect retracement to be complete, sometimes I waste too much time observing this.

[shahrin]

Thanks very much for such good visual assistance…

You said…'trading the bounces / follow green candles.'
The price is running out of the box… so from where it is bouncing on? trendline?
and what means…follow green candles?
sorry rel…if it just like silly question…I just mean it…:37:

[shahrin]

Enough for tonight…mid night. Quite clear now…just need practicing…
TQVM Rel… Let see tomorrow on next issue. Gdnite CF.

[Aztrader2]

Hi Bros,

I see today has been a very busy daay for the classroom…
I went home few minutes ago, and learned more reading today’s posts than ever…

I just want point out what I learned today… and it’s not small matter:

[B]Actual trend [/B]( for us daily traders/scalpers) [B]is defined by LRG channel[/B]. [B]Once broken[/B], we must consider [B]bias is changed[/B]. To draw a new channel we must wait at least that Barros Swing prints a 5H leg in the actual direction. We don’t know if actual trend is a retracement or a change in major trend (also if we can consider it looking at GMMAs & Higher TFs swings), but trade in that direction unless previous major bottom is broken and daily down leg of Barros creates a new minimum without printing any new 5H up leg… (or tomorrow we can consider short following 20 pips rule as Relativity explained in his posts).

I have a little question regarding 20 pip zone:
In this case we must consider 20 pips from the low of the previous down move (blue horiz line in my chart) or the low of the actual day (green horiz line) that is also outside the channel?

[shahrin]

More meaningful thoughts being revealed…:22:
I’ve seen that the prices mostly bouncing back inbound from the last bold GMMA short or a little beyond…
This is the ideal place to find opportunity…once the H5 swing printed out, draw the 20 pips fr xtreme, then enter.
Is it the way CF?..is it important to read candlestick pattern?
Could you show me the post which I could understand the ‘20 pips’ statistical concept…TQ

[Aztrader2]

I can’t answer your question until we clarify one thing.

Are you using H1 swings + H5 swings OR H5 swings + D1 swings ?

Regardless of which set, the channel is always drawn based off the higher timeframe. If you are using the 1st set (H1 + H5), one has to make do with less pips to eat (fairly obvious isn’t it?).

Personally, I would use H5 swings + D1 swings , since it would make the 20 pip thing easier to show + I am making full use of the statistics. Ideally, of coz one can use H1 swings + H5 swings + D1 swings (I used to trade this way, it does work very well since one can really see the full movement of price), but I want to simplify things down too.

So, I ended up using :

• M15 chart (not swing) as entry timeframe : follow candle color along with trade bias direction + breakout of and respect 20 pip zone
• H5 swing as anchoring/main/trading timeframe : draw 20 pip zone here depending on trade bias direction + assisted by GMMA with customized H5 settings.
• D1 swing for perspective/senior timeframe : draw channels here + trade bias direction + assisted by Market Profile with rolling D1 settings.

Still works like a charm. Same concepts. I can also use the same concepts if I step up higher timeframes, like H5 + D1 + MN1. But again, to make things simple. Don’t want to confuse anyone with the 3rd swing in place, although I can tell you, if you are used to it, it will be VERY VERY helpful.

The more you trade this way, the more you will realise, the settings DON’T matter. Regardless of which swings settings you are using, big (as big as Q1 swings!) or small (as small as M15 swings), the concept remains the SAME. The only difference is the number of pips one gets to eat off the market.

Just that the settings I have now make it easier for a day trader to see the concept and its more pip efficent wise. Nevertheless, the major concept hasn’t changed.

Do you see it?

If you do see it, what is it?

In the image the swings were D1 + H5 (red one down) and 15 min + 5 min… but now I changed @ D1/H5/H1

In fact, as I can see, chart is cleaner and I suspect we don’t really need anything else to follow the 20 pip rule and eventually try to ride it looking @ statistics about 5H swings…
Just to pinpoint entry: a 15 Min candle must close > 20 pips from extreme, or is enough price retraces 20 pis? I think is better it closes, then start looking for a retrace and the enter when price touches again 20 pips…

Regarding MP… have you any link to suggest us about, in order to better understand it? (As for GMMAs we have Guppy’s work)

Ps.
A little tech issue: in my chart both GMMAs prints the same legend: is it right?

[Aztrader2]

A note about foundamentals…
Yesterday evening ECB presidend DRAGHI spoke: “The Eurozone crisis is very serious…”. Then EU gained > 100 pips… !?!
I suspected it would happen coz. as Masterforex says: Never thrust what Politicians & Media say…As we can see the Big Boys know what to do…
Now watching for eventual reversal…