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Timokrates, In my opinion, the last 4 trades respect price analysis and are valid trades. FesX was the instrument that made me “understand” price analysis. Usually is very clear, especially in the timeframe you are using. In my experience 5 ticks target is on the max limit for a 16 tick...

Developing a price based trading plan (PBP) #3 Indicators #3 I just read a post about shorting the EUR/USD because is topping… so why not use it as an example for the discussion on indicators. The first chart should be always based on pure price and only after if necessary (a chart is...

Developing a price based trading plan (PBP) #2 Indicators Price action is definitively the key for successful trading. You can hear from “unbeaten” investors, pro traders and scalpers that price (and/or fundamentals) is the only thing you need. You read that indicators are bad...

Pk, Does this type of major scalping pan out in the long run? I've traded with the jpy like this for about 3 months and post consistent profits… the win ratio becomes manageable. I'm usually at about 8 wins, 1 b/e, and 1 loss out of 10 trades. It’s difficult to say something about...

Amitman, Maybe I didn’t make myself clear before. My point is that you are not going to find a successful trigger if you don’t analyze price properly. My chart had the intention to make you think that if you don’t see waves properly you are wasting your time tweaking your entries. The...

Amitman, Don’t get me wrong but in your chart it seem that half of the time you tried to outsmart the market and the market outguessed you and in the other half the market outsmart you and you didn’t realize it. In general I can’t “read” your trades. Sometimes you respect...

Pkchill, timokrates, Thanks for your comments. I will analyze and reply in detail your previous posts. I am posting some comments on amitman post first. oraclewizard77, I have calculated mine based on over 1 year real money trading. Once you know your win%, the next step is to not...

Amitman, This chart is just price: - Jan 31 price make a new low (PL2) which is a LL and Feb 4 price make a new high (PH2) which is a LH. You have a LL and LH meaning no Longs. - Feb 6 price make a new low (PL3) again a LL. Feb 13 a new high but this time is Higher High (+/- 0.10 cents...

Amitman, Your comments raise a very relevant issue related to my previous post: Why a particular trigger works or not in longer timeframes (in this case a Hull MA)? but before that let my answer to your comments with two charts. The second arrow is a failing trade since the traget the...

Pkchilly, Your welcome … 1. What are some of the size constraints of the futures market? I have not started trading different instruments than bp, jpy, and eur, and I am sure there are other instruments where 1 lot = a whole lot more than $6.25 or $12.50. There are many and sometimes...

Developing a price based trading plan #1 There are many variables in a consistent and sustainable price based trading plan (PBP): the most important are timeframe, time, risk, instrument and capital. All of them have their unique implications, yet they all are mutually interdependent. The...

Sorry for the delay, I have been out of office for a few weeks… What is the importance and relationship of wave height with these rules and principles of trading? (mktman) If price analysis is the key for successful trading, the relationship of wave height is the key stone to develop a...

Anek, Pkchilly, Corey Thank you for your comments. Again, I am going away this week. I still have some unfinished posts (risk, timeframes, psychology, gambling and some question sent by PM) that I will post when I come back, till then good trading and good luck. jjrvat

TheRumpledOne, Thank you for comments and posts Mktman, Is there any difference if you use a simple MA versus a WMA? Why is WMA being used? No. there is no difference at all. MA or WMA are visual aids for price action. Find the one that its “best” suited for your instrument and...

Dr. N Thanks for your comments. Rn86, I would like to thank you for you comments too but particularly because posting your chart. I always try to improve my charts (reducing at the max distortions in my screen) and I must confess that your very simple but powerful idea of plotting the...

ItalianFx, Thanks for the comments, thats exactly the point I wanted to raise with this trade. Yes the next trade went up (the 240 WMA provided support), but you are missing a key issue: Consistency with your analyisis!!!. The mistake (is a mistake because it breaks price analysis not...

I can find many excuses for why this trade failed: 1. Price hit next Pivot R1.5 twice plus and it couldn’t break it and already retrace to R1 2. By mistake I used a chart template without middle pivots (I use this when pivot are very close together) 3. Big guys running stops at the...

Mistake #1 The purpose of this post is not to overanalyze mistakes or bad trades. While mistakes can be reduced a lot with experience (not all because we are human beings, no matter what we do we will always have some “stupid” trades), bad trades will always be part of the cost of doing...

The importance of Macro Direction I am posting again some comments on Macro Direction with a today real trade mistake ***(thanks pkchilly for the very good idea to improve the content of this thread) 1. The importance of establishing the current time direction is not because you are going...

i had tried to impliment this wma theory but no success yet...problem is this look gr8 after the fact. billdobson1972, I completely understand the “this look gr8 after the fact” part, but it’s maybe because you are paying too much attention on the “technicalities” of a...