BlowFish

Interesting post. Actually answers some questions I had about what you do when you sit down just after a break has occurred. In any case you would have needed a lot of patience to endure the long narrow sideways period before it really got going.

Set longtrigger=false right at the start of your code or where you have the if statement add else false. If FastValue>FastValue[1] and slowvalue>slowvalue[1] and close>open then longTrigger = true else longtrigger = false;

Or clicking on the text of the users name above a message they have posted.

Kind of interesting playing catch up on this thread (seems busiest whilst I sleep) Knowing where cable is trading now when I read your entry post puts a whole different slant on things

I dunno if it is a good idea to determine if you did the right thing by what price subsequently did. Did you do the right thing according to your plan? Did you do the right thing according to what price was doing when you made the decision to close?

Deleted----------- more on mini liquidity that Cory kindly provided figures for.

At least you seem to be being reasonably honest with yourself. It is quite easy to make excuses ("I'm waiting for only the very bests setups"). Maybe do the exercise that Mark Douglas suggests. Not sure if you are familiar with that it boils down to taking 40 trades absolutely religiously but obviously there is a bit more to it than that. EDIT deleted comment on liquidity of mini's....was answered while I slept.

Hi Plugger, Which part actually traps sellers? The second exhaustion or the failed move to the downside? A lot of sellers are going to be getting short on a break of the exhaustion. To me the higher low actually is showing a lack of sellers imho (the fact they could not test the previous exhaustion low). At the end of the day it sounds like a decent basis for a trade plan which is what matters I guess Edit: do you like to see at least 2 exhaustions? On the final move up on your chart (resulting in a potential short), could the second exhaust possibly be considered a lower high? I wonder why you annotated it exhaustion 2? If you need to see 2 exhausts that would explain it. Cheers.

Nials stuff seems refreshingly straight forward and as you say well presented. I am not sure it is that unique (not that that matters). There are very similar methods presented by James16 at another venue and TraderDante at yet another. Price action (manifesting as pin bars and inside bars) at longer term S/R is a pretty sound basis for a trade. Anyway I certainly don't want to derail your thread, really nice clear charts keep them coming. Edit: what size bars are they on the Aussie chart you posted? I could work it out but being lazy.

Assuming you are not trading massive size yes.....not sure about the new mini futures ....no experience of those (yet).

Not sure why? Because what he wrote was not all that it purported to be or that someone pointed out it was not all it was purported to be? There is (imho) stuff to be found on forums that is as good as any published anywhere. In fact the cost of material is absolutely no guarantee of its efficacy,

At one time his charts where covered in indicators. There seems to be some sound principles at the core but as you say it seems to be a different approach from month to month

Giving 10% of your winnings away is bad enough but think of all the 10 point stops that cost you an an extra 50%. If the money itself isn't enough the mental pressure (as I mentioned when we where talking about slippage) are significant too. The big issue (to me) is you are taking a bet on a price that is being set by the bookie. All this is surmountable by targeting larger swings .... the smaller the swings you target the bigger the effect of the shenanigans and the more likely a profitable approach is going to fail.

Hey Diablo I guess you already know you can turn markers and price labels on and off....and perhaps more usefully extend the order lines so the labels at the end are further to the left of the chart? I know what you mean though the issues are when you zoom the chart that you took entries on in or out. Where chart trading shines (for me) is adjusting stops...if you want to snug up a stop over a new swing you just drag and drop it.

This seems like quite a small thing but it is quite profound in it's implication. If you believe markets are there to facilitate trade and move around to seek out liquidity then this is not such a stretch. This can still fit well with other paradigms like supply & demand or auction market theory etc. At the very least it can give some confidence in the method for establishing targets that has been presented here.

Quite true though that was a fat OS and a fat browser. They also put quite a lot of money into Windows Terminal Server.

If you buy into the idea that resistance becomes support when broken (which we all do right?) then isn't there always a potential long lurking wherever there is a short? (hope that doesn't sound facetious it's not meant to). Actually Im not liking much at all right now. Mind you I have watched things going nowhere for the last 8 hours or so. Lethargic price action has one of two effects on me...it either sends me to sleep or I end up forcing trades that don't exist. Fortunately it was the former today (literally!) Of course I'm likely to miss out on a good move as explosive moves often come out of sideways action. Dax did have a quite nice move whilst I was dozing.

Richard makes good points. In MC you can minimise the impact of this by having a 1 tick chart of the fastest instrument as data1 to 'clock' your indicator. Be aware that it's at time like this that having fairly well optimised code is important (yes I know I keep banging on about that ) You can hide the 1 tick bars if you don't need them. The problem with this approach is irregular scaling, the charts X scale is done in regards to data1.

The same. The biggest irritant to me is not having a file open option (yet) for downloads. Empires come and go I can't see MS rolling over just yet. The 'new paradigm' which is really thin client brought up to date has failed many times before, it will be interesting to see if Google can make an old paradigm work by wrapping it up in a browser and cloud computing.

The question I try to ask myself is will the resistance above net a decent profit if tested. The trade I posted end of last week was into strong (multi week) support but was tested hard and fast. I find it more difficult if there are layers of less well defined S/R.

Your trade is the same as the 'traders trick entry' a la Joe Ross. Forget JR's naming of stuff (Ross Hook is really the only self indulgent one) it is very solid price action stuff rigorously defined and presented. The TTE is an early entry ahead of the break out of the main swing high/swing low, the thinking is that even if the BO fails the swing will likely be tested and cover the cost of the trade. My dax 'scalp' trades are pretty much just like yours Don (TTE). I have been more closely following Thales trades (both trigger and management) on 15 minute FX charts in sim. Personally I find it harder to wait for the BO proper, maybe because in years gone by I would have faded those. You can download 'The Law of Charts' and 'Traders Trick Entry' for free, worthwhile imho and very similar to the stuff being discussed here. Price Action is Price Action after all.

The only trade I posted last week was a sim trade (15 min eur) it moved rather quickly and I found it difficult to keep up (certainly with the comments on the sequence of charts). My live trades last week where from a 2 min DAX chart which dosen't leave much time for posting. I do have some charts I snapped but didn't post them up as It wasn't really real time (per the thread title). I might try and catch a sequence of charts and then annotate them as a completed trade at the end.

Finally a 5 minute chart that show's how well formed the range was and how decisive the break and the subsequent drop. We are in the region of pretty significant potential support now if that goes look out below (may as well tag on a daily to show that). Note the charts are chosen to reveal what I want to see rather than being a slave to the bars.

And done. Remarkable how volatility and directionality can come in so quickly. Not sure I should have tried to post, at least it stopped me closing prematurely. Edit: had to zoom out a bit (4 hour) to best see that level)

Going to try and hang on for the lower blue line (that has been on the chart for an age better check it still looks plausible). Yesterday I traded the dax for an hour live and was almost set to put FX on the back burner after doing a couple of bad things (adding to a looser on a 'pullback')