[BlowFish]

Originally Posted by Don4 »

Second trade Stoped Out.

Attachment 16086

Attachment 16087

Thanks
Don

Hi Don, would you have still been in with your management? I guess you would have been short ahead of the break too if you even took the trade? Cheers.

[Gabe2004]

Originally Posted by Gabe2004 »

Not comfortable with the short.
Moved the SL down.

Gabe

PS I am not in this trade.

Stop hit.
This would be an example of a failed trade.

Gabe

[BlowFish]

Originally Posted by thalestrader »

One last look at the EURUSD and then I am definitely done for the night.

Now,let me ask you all (and I would love to wake up to some posted answers as this is not meant to be a strictly rhetorical question): Did it take any special talent or any mystical and magical powers to see that the EURUSD had settled into a tight range of overlapping price movement? Does it take any occult powers or insightful interpretive powers to see the opportunity offered by setting stop entry orders on either side of that range with profit targets at the nest S/R levels?

Best Wishes,

Thales

One of the better things about old JR's work is that he provides some simple 'rules' for spotting range bound markets. One of the ideas he introduces is a 'measuring bar' the first bar of that range was such a bar. Until price can make it out of the confines of that bar it is clearly not making any directional headway. Matching H L or Closes. Alternating closes... all objective ways to say the market is currently sideways and maybe helpful to those that can not just see it.

[thalestrader]

Originally Posted by MidKnight »

Yes, I think so. I am interested in knowing why you did not see the same 'opportunity' on GU? It would have yielded a stop out to the upside and probably a small stop out from the downside. I only ask because I know GU is one of your pairs that you are watching and you no doubt have watched it form that pattern tonight except you don't seem interested in the same 'opportunity'.

You apparently missed this post:

Originally Posted by thalestrader »

Right now we have a buy stop on the GU at 1.6463 and a sell stop at 1.6426.

There was no stop out to the upside as price never offered at 1.6463 at FXCM, and according to the Gain data on Ninjatrader, it printed a high at 1.6460. Perhaps some would have been stopped in long at their brokers, but if you are going to trade at a bucket shop, you have to take into account your bucket shop's data and spread, not mine. Also, I use the Ninjatrader charts to illustrate what I am looking at because FXCM's charts are awful. But I set my orders according to the maker of the market we are trading, not Gain. There will at times be differences of as much as 3 ticks between what I post based upon Gain and what I am trading based upon FXCM.

There were three trades to the short side. The first two we took, and both were stopped after hitting our BE adjust. I was gone by the time the third trade would have become evident to me, and that would have been a losing effort. But, for the sake of argument, let us call the first and third short trades losses. Let us say each was hit for a full stop of -20 and -25. So there were three trades, all short, for a net loss of -45 ticks.

The next opportunity would be the long on the other side of the prior range. That trade hit both PTs for +70 on hald and +100 on the other half for a net of +85 ticks.

So, had you watched just this one market taking the opportunities as they appeared on the 15 minute chart, you would have made 4 trades (which is a lot for the time period covered), with 2 losses, 1 break even, and one winning trade. Let's count the break even trade as a loss, and say you had only a 25% win rate yesterday. You still came out with a net of +40 ticks.

Now, Midk, I do not know why you are coming across with such a bitterness. I feel I have made every effort to help you.

The one suggestion I have made to everyone trying to learn to apply this approach is that they pick one of market, follow it for one week on a fifteen minute chart, and paper trade it. From your posts, I can only assume that you have not taken this suggestion.

You are being more than a little unfair to me. You have tried to do what I do your way. It hasn't worked for you. If you wish to be fair, why not try to do what I do my way, at least for a week. Unless and until you do, your negative attitude is unjustified.

You are free to trade anyway in which you wish. I continue to hold this thread open to other approaches, including variations of mine. But if you are going to do things differently, you cannot in fairness then turn around and say that my way is somehow to blame.

Best Wishes,

Thales

[thalestrader]

Hi Folks,

This is the ES. I post these two charts not because I traded either of these situations, but to illustrate a few points that I have made here in the thread.

Best Wishes,

Thales

[BlowFish]

Slightly off topic do you trade through Gain as well as FXCM? Do you need a funded account to try Ninja with them? (guess a visit to there website would reveal the answer to that )

[traderbrazil]

Hi Thales,

My first post around here.
I've read the first 60 pages of the thread (planning to read the rest on the following days).

Since yesterday I actually started looking at the current posts regarding present price action to get a real-time feeling of the strategy presented.
I have a question regarding post 2044 (maybe this was covered on the posts I skipped earlier). When do you actually decide to move your stops to BE and not use the original "natural stop"?

Thanks for your feedback!

Best wishes,
Leandro

PS: Thank you for all the effort dedicated to the thread.

[Gabe2004]

Potential EJ Long.
Actually a better entry would be off the 1H at the level which is marked on the 15min chart as the move SL to BE.

Gabe