Anna-Maria

Walter, He's being taught to observe the higher timeframe map to plot his zones of engagement. So all he'll do is pop it out to a large hourly or maybe a Daily to get his bearings. Simple s&r observation is all. Then transfer that info down to his preferred execution timeframe. This signal method will highlight a lot of trades on any pair during a weeks worth of activity on these small 5 & 15min frames. His primary filter on this little set-up is to only engage in harmony with the near-med term flows & try qualify his entry with a good, clear supply-demand line. It reduces the amount of potential trades per week, but it significantly improves his positive returns! There's not a whole lot of work to do with it to be honest. But it trains the eye to recognize basic price flow & then drill down into a workable timeframe to cherry pick your trade set-ups. I've included a graph of a small hourly chart highlighting the supply line a little better. Hope it makes sense.

Junior sent his latest hotshot trade into our in-box earlier. To be honest, looking across the canvas, he had the pick of the crop setting up off his trigger. He chose the EUR v/s Yen due in part to it's major supply zone of the past week & the 15m candle trigger. But any one of a few pairs would have delivered in this late NY session execution.

Hello Walter, Been having a snook at one or two of your fast timeframe threads, some pretty decent content & research going on thereabouts - your enthusiasm & positive approach is very refreshing! I hope your endeavors continue to pay just rewards I don't intend to hijack your thread or your work Walter, so my apologies if this post detracts from your ongoing research. I didn't know where else to post this & it's really intended to use as another? example of these types of fast(er) timeframe trade set-ups. Please disregard it & the mods can delete/move it if you don't want it to clog up your thread. Anyways, our nephew has been trading this little wippersnapper for quite a while now across a varied selection of pairs. Apparently, it's made an appearance on one of the other forums recently, but then eventually everything morphs into something & gets resurrected in some format LOL. He plots a 14 period RSI on the 5min timeframe & uses the extreme signal beyond 30/70 at supply-demand lines from the higher timeframes, in accordance with a mid-term trend. Occasionally he'll kick a counter trend entry if the positioning (& supply-demand line) gets out of whack. That's it really, nothing more complicated than that. He's been grinding it out since last last spring, mainly on the Yen pairs & the Cable. I've hauled up a couple examples on Geppy & CAD mainly to highlight the variables of the pairings etc. But these set-ups appear pretty regularly during the trading week, & offer decent follow thru management once prices penetrate & kick thru a well observed supply-demand camp. It's a cheeky little trade, & he's happy enough with his pocket money out of it, but it just shows you, something trivial & simple when utilized sensibly, can jog along handsomely Apologies again for cluttering up your interesting thread Walter, I won't post this stuff on here again. ps: I'll try call in on yours & Don's room when I get a break in the trading day, will be nice to make your aquaintance!

They can be a real benefit clipping in off the larger timeframe references. Even better when the Fundamental chatter & scaremongering is beginning to unsettle the specs & weak holders. Yen displayed such behaviour during late June/early July. The set-up doesn't appear as often as we'd like on the real big frames, but when it does (at sentiment extremes) it's well worth cranking the radar up & preparing the supply-demand hotspots on the lower timeframes. Anyhow, thought I'd just sling these up for reference. 1st example is the Daily highlighting the candle, followed by the 60m behaviour off the lower top.

Yes, that's a very pertinent comment, well said that man! It's also a favorite set-up of mine when observing candle charts. Although we tend to trade currencies almost exclusively, & their candle pattern behavior can be slightly erratic, they're still very consistant at certain junctures on the map. Especially on the 60min+ frames. Looking forward (time permitting) to following this little corner of the forum. A nice addition to the site!

That's a great post! I particularly like the highlighted comments, I like those a whole lot. If you're adequately capitalized in the first place, got yourself a small toolbox of goodies which do the job often enough (strategies for your favored situations) to keep your acc't happy, then fear doesn't come into it. Don't know bout you, but I do this to make s*** loads of dollars, period. Always have. I'm out of here well before I hit 50. My brother (who I respect as a trader immensely) doesn't actually like the goddamned business we're in LOL, but like he say's: until someone is dumb enough to pay him an insane amount of money for using his common sense, then he'll run down this clock until he bores himself to death. I don't care what anyone say's - money is the only reason I/we trade. If I wanted to have a wonderful time (at work), I'd go be a CEO at a fancy shoe company!

There's no particular "time frame" for adjudging really Steve, it's more a case of staying abreast of what's on the menu at that specific time. I think Krantz mentioned on another thread, that in the absense of any Tier 1 & 2 data, the market will merely trade off a pure technical bias. And of course, differing agenda's come into play at varying levels according to the trend/range & expectation etc. Most of the activity off the lower channel line/78.6% Fib @ 1.94 was mostly technical to be honest. Sure, players will have one eye on upcoming data & if enough "consensus" errs to the $ neg camp, the impetus will continue shoving it. There were certainly appropriate lower levels to hide your stops on any leg into the higher low activity, the weeks low level being one such bed. But I guess at the end of the day, it comes down to how comfortable you feel re: rolling over and/or holding? I guess are views & opinions from either camp on the risk guage (closing out v/s rolling), and that's very much a personal view based around a number of variables. As you say, a broad sweeping awareness of who is talking up what & why will add to your tool-kit.

Quite often the pace in which these animals move (based on Fundamental bias) emanates via the chatter & expectation. Once the actuals/reality kick in, the thick end of the move is done, which is usually when the retailers saddle up. Doesn't mean you can't catch decent pops up & down the ladder, but it maybe requires a little more slack & patience to sit the moves out? You can certainly leg in even if the move sprints away, & it doesn't necessarily mean you have to be an A Grade eco watcher to catch it either. Generally when enough noise is evident, you'll see the technicals developing on your favored timeframe stamp. Use them in harmony & you'll get some meat out of a move. The tech aids you seem to utilize, (pivots-fibs & prev session H-L markers) will still screen your entries/exits on Yen just as easily as they do on Cable Just scroll back on your charts with the appropriate aids onboard to see where you'd have judged your entries/pares etc. They're no different to your observations on your favored pair. Today (on Yen) being a good example.

Don't beat yourself up! You extracted profit & hit your plan based on your observations. Book it, sit back & wait for the table to lay the odds again. If it offers you the chance to saddle up at a better price, take it if not, seek out a table (diff pair) with brighter colored chips!

Yes Steve, 3160-80 Euro 9600-610 Cable Meaning, they'll look to shake out any new(er) weak longs into the Durable Goods, if this initial pop fails to hold above the Asian highs.

3205: R1, 78.6 & the likely 1st line stop bed for these intraday runners off the Asian lows here. That collection will send it back for sure if it's not supported into the European doldrums. Durable Goods will be the first $ test of the week. Should attract decent follow thru if that number disappoints.

Euro banging on the door of it's pressure line too inside the channel. At least we'll get a couple daily green bars into next week. 78.6 (1.32) next stop above this line. Talking of odd balls, you hear JoJo Bryan is back in the cash Andre? Jocelyn ran into him at Keanes last week

?? Looks like you've repeated the exact same comment under another thread last Wednesday. http://www.traderslaboratory.com/forums/f24/eur-usd-1195.html Anyway, what constitutes 'violent' in your book? It's retraced approx 60% of it's summer 06 range, considering the prev retracement printed shy of the 50% marker of the prev wave up from Feb-May 06, that constitutes reasonable bullish behaviour. 2860-90 is it's 1st line defense on any confirmation of a critical top, with 2450 the fulcrum line on the weekly (a tad below 50% of the Nov 05 low - 06 highs). Like I say, depends on your interpretation of violent, but the Euro Bulls will certainly have something to say at a couple of those upper levels before 1.2100 comes into view.

1.94 represents an important hold for Cable Bulls if another assault on the yearly highs is to play out. For the time being anyway, 9400 keeps the 07 higher low shape intact. Last weeks highs (c1.9730) is proving a tricky stumbling block for the Bulls, & price bounced off the 78.6 lower high zone this week on disappointing data. If we take the 1.94 low & project up to today’s high, the 78.6 again zooms in as an important line, protecting the recent activity around last weeks low area @ 9460, an important secondary support & higher low zone off the larger map. If this drop back to 1.94 & todays hold above the 61.8% of this smaller swing are genuine Bull demand tests, then prices will face strong opposition on any attempts to hurdle the mainline resistance zones of 9720 (the 61.8) & 9805 (78.6) of the larger, more recent primary swing points. The confirmation as to whether 07’s recent highs are a critical top will in some way be dependant on Euro’s ability to re-take the stiff dual resistance zone of 3250 (the 78.6) & 1.3300.

No, I took the full -20 hit (9570) on this occasion. The level & break, with corresponding 1st line target were fair, so I decided to allow it a little more room/time to manouvre. It just faded & died - shit happens Yeah, the option was there to either pare off at those 5m doji's & haul up the stops and/or clip it at b/e etc, but I wanted to test out potential for it to trot + the 1st target was a decent +50 run up the ladder & I felt it justified standing my ground. Didn't work on this occasion, but no harm done. As long as the r/r is balanced, it's a fair deal. Regards the later entry? Again, I just wanted to check the appetite on the post data reaction. But you could have sliced 10-20 pips either side of that trade had you wished, which you've already alluded to

They don't appear to have the appetite huh torero We'll have to see what the color looks like on a trip back to this mornings consolidation by the looks!

Nasty looking 5m neutral bars spoiling the party up there @ 620, I'll be out of this for -20 on a return thru the pivot if this fails to double back sharply.

Early trigger for a post data lift back towards the range top Steve? Pushing off the PP & 50% of the short range level from last weeks high (9732) to Tuesdays low (1.94). 9620-25 needs to confirm the upkick, if so should be good to trot.

There's no particular set opening/closing time Steve. It's unofficially recognized as 7.30-8.00am EST. You won't be too far out if you use that as a guide. It's certainly wise to hang fire until NY begins stirring yes. Especially if London spikes the price up/down & it begins to fade out into slop. It can be very trappy if a data shunt spins price away from it's original bias, as happened this morning. Unless a noticeable trigger sets up on your radar, I find it more productive to sit tight & wait. No use in taking on excessive risk? If I miss a price because it occurs during the late London clack, then so be it. It's not like prices aren't gonna set-up again in the near term is it. I want to trigger when the volumes & activity are condusive to movement/momentum. I don't consider the post Retail Sales level to be either, do you?

We're back in range mode Steve. I've got interim support kicking in @ 9545-60, with upside barriers around the current range (78.6%) line @ 9660-70. Todays pivot, 9575 is dictating the post UK news blow out. I'm using this small stall area as my guide into NY. If anything appetizing sets up I'll consider a strike, otherwise it'll be sidelined till NY wakes up.

Yes, the move up off 1.94, especially thru 9560 has triggered some short covering for sure huh? Very good strength off the pivot yesterday & again today, with little or no pullback. A whole plate full of data printing out of the States later too Steve, with the TICS & Industrial Production high on the watch list. Could be another busy day by the looks! nb: hmm, they didn't like the taste of those Retail Sales numbers then

It’s a very contentious issue isn’t it. I’m sure the trading business reflects similar success-failure rates across the mainstream business arena. As with any enterprise, the success factor is dependant upon & reflects the degree of application & compatibility of the driver. Most of the folks I know personally, who are still engaged in this industry, appear to possess very similar behaviour traits, regardless of their instrument preference. I think the most important aspect is the fact they’ve found their niche or strength regards the type of execution model (timeframe etc) & template base. By that I mean they wrap a combination of strategies or systems around them, which are compatible with their personalities & constantly work (focus) to improve or develop their (strengths) awareness of their chosen market, in tandem with their execution mode. They’re not easily distracted, neither do they stray from their goals/aims. And they most definitely won’t flit like butterflies from one methodology to another in search of the ‘easier road’ It takes a certain personality type to progress in this industry. A sound base in math, analytical & methodical strengths are a given. To be honest, those who enter via the college intake route will receive comprehensive training & coaching thru their firms & eventually ‘migrate’ to their trading niche. Those who come to the table from outside the firms or shops will often seek some form of coaching or guidance from recognized industry personnel. And the fortunate few, who find success outside of those avenues, would generally succeed in whatever they choose to turn their hands to, due to their naturally positive, aggressive & savvy personality traits. It’s not simply the fact they work hard, but just as importantly that they work smart!! I take my hat off to those who grind away consistently from a standing start. The workload (research, application, persistency etc) is daunting. It’s a bitch of a task for those with industry experience, let alone those without. It’s by no means impossible for folks to progress without some type of training/coaching, but the time factor certainly becomes extended. Which is why those who are farther down the road constantly advise newbies to take their time & explore their options before committing their dollars. If you’re fortunate enough to unearth a method or strategy combo suited to your personality style, & you’re prepared to put in the hours to thoroughly test & research your findings + ensure your market is suitable for your objectives, then your chances of success are greatly increased. But be prepared to burn many candles & try to accept the frustrations & setbacks as trade-off’s & part & parcel of the learning curve. I guess the term “persistence†is a very under-rated statement in this industry LOL.

I think it depends a whole lot on the level reached & range geography during the NY shift torero. Certainly as London closes up for the day prices have a tendancy to drift, but then it's to be expected given the dissipation of volumes. Can't say I've really noticed any other peculiar behaviour other than that. Yes, that Big Figure (1.94) shouldered the slide somewhat huh? It's yet to print a higher high off the initial pullback from todays 50% touch & last weeks lows, which appears to be rejecting this upkick quite nicely. So the Cable Bulls have their work cut out in order to tip the sway from Bearish to Bullish. The mid-term shorts won't become concerned until price begins threatening c9490 (the 78.6 of todays H-L). A decent handful of key data prints still due for release remainder of this week on both sides of the pond, so plenty more opp's to get stuck into no doubt!

Gearing up for some each-way action at this interim s&r zone torero huh? That big bad 50% Fib aint too far away if it fails to grab this ledge!!

Which brings you back to aims & objectives? If you're expending precious energy concerning yourself with hand wringing, then you need to step back & work on your priorities. If your account balance & platform execution deem it unworkable to adopt that specific process, then you need to tailor your strat to those variables? Bounce off the strengths you already possess. Put that on the back burner & focus on the issues which will return the more positive results? If that equates to triggering a couple decent opp's per day & running for 20-30 pips, then so be it. If it means sitting back & waiting for an appropriate (potential) larger opp kicking away from a prev swing level/prior weekly H-L/trend failure zone etc etc & swinging in on lower than normal size to get you into a +1 or 1.5c move staggering larger stops, then that's cool too. But you're gonna have to prioritize & determine which style fits your kit bag & cut it accordingly. Otherwise you'll end up spinning around in circles. More importantly, it'll mess with your head - far more serious!