Sam Seiden "Transcripts" from fxstreet

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bredin
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Postby bredin » Fri Mar 19, 2010 6:20 am

thanks jahjah. I appreciate that soeone otehr than myself is finding it helpful.

G.(still putting together stuff for the indi thread, posting soon, really I am)
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Postby roger_over » Fri Mar 19, 2010 7:19 am

Thanks for your contribution G always helps to be able to see a target
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Postby PTG » Sun Mar 21, 2010 1:28 am

Bredin, nice work on your indicator.

Don't forget to take into account something that has been explained in the NLA thread: the bigger picture ! You can stack the odds in your favour.

Another thing is risk- and money management. It has all been explained on Kreslik, mainly in the NLA thread.

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bredin
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Postby bredin » Sun Mar 21, 2010 3:52 am

Brookmyre wrote:Bredin, by 'outside a zone' do you mean somewhere in between s/d and not directly off a zone or something else...?


I mean a trade taken between zones. ie a trade taken after a (or at least 1 consecutively) bar closes outside a zone, and price is still oustide the zone when the trade is placed.

G. (edited for clarety)
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Postby Brookmyre » Mon Mar 22, 2010 12:18 am

Gotcha....clear now. Thankyou for clarifying.
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Postby Pro Trader » Mon Mar 22, 2010 11:18 am

Bredin when do enter trades using this indi?

i.e. for a short off a res level do you enter as soon as price touches the level or do you wait for price to go up into the area then enter at the line on the way back down?


Anyone else want to share their entries with this indi?

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Postby bredin » Mon Mar 22, 2010 11:46 am

Pro Trader,
I have been scalping M5 with this all evening, in 'hideously aggressive' mode to gauge when to enter.

I try to enter when price stalls somewhere in the zone.

I seem to get killed if I enter early (before entry to the zone) or late (after exit of the zone).

I dont want to enter at the edge only to watch price blow through, and Id like a better price if I can get it, cos it means a tighter stop and thus more profit.

I place an emergency stop on the far side of the zone.

I must admit that every time I enter I fight the feeling of entering in the wrong direction, and have been guilty of chasing movement and othe dumb things while I get this right....

I usually target the next zone, but am ready to dump on a price stall. Exits are hardest...

G.
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Postby Pro Trader » Mon Mar 22, 2010 12:03 pm

Oh ok so basically your looking for 5m rat reversals in the zone, is that right?

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Postby bredin » Mon Mar 22, 2010 12:19 pm

No.
I am looking for price to enter a zone and stall or reverse. Then I enter. I am not waiting for candles to close.

I was just noting that when a RAT trade coincides with a zone it is usually an opportunity for larger targets.

If I was trading H1/H4 zones I would be more inclined to wait for a RAT entry to show the reverse has started.

As always, I have an eye on the longer timeframes in order to give me a bias....

G.
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Postby Pro Trader » Mon Mar 22, 2010 12:56 pm

bredin wrote:No.
I am looking for price to enter a zone and stall or reverse. Then I enter. I am not waiting for candles to close.

I was just noting that when a RAT trade coincides with a zone it is usually an opportunity for larger targets.

If I was trading H1/H4 zones I would be more inclined to wait for a RAT entry to show the reverse has started.

As always, I have an eye on the longer timeframes in order to give me a bias....

G.


Right, I'm with you now.

What I thought you were doing (which is what I looking at), was having the zones on a H1 then trading from a 5m.

Thanks for your help.

Please continue to post with your findings

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