The ideas that I trade by:

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thepark
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Re: The ideas that I trade by:

Postby thepark » Wed Jun 01, 2016 11:30 am

aliassmith wrote:
laksh wrote:
thepark wrote: I shorted GJ at the top of the cone.


I also got lucky with that sudden 1 figure drop in GU. Seems like it was due to a Brexit poll result putting leave campaign ahead!

I took part in a Brexit poll. I told a lady on phone that I will be voting to leave, but I am still undecided. :wink:


That GJ did move nice. I just picked up 7/8's.


just curious, do you use ATR for pip targets?

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aliassmith
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Re: The ideas that I trade by:

Postby aliassmith » Wed Jun 01, 2016 2:04 pm

thepark wrote:
aliassmith wrote:
laksh wrote:
I also got lucky with that sudden 1 figure drop in GU. Seems like it was due to a Brexit poll result putting leave campaign ahead!

I took part in a Brexit poll. I told a lady on phone that I will be voting to leave, but I am still undecided. :wink:


That GJ did move nice. I just picked up 7/8's.


just curious, do you use ATR for pip targets?


No my target picking sucks. I use the "that looks good" method.
Trade Your Way as Long as It Makes Money!

aliassmith
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Re: The ideas that I trade by:

Postby aliassmith » Wed Jun 01, 2016 2:11 pm

prochargedmopar wrote:
aliassmith wrote:
laksh wrote:
I also got lucky with that sudden 1 figure drop in GU. Seems like it was due to a Brexit poll result putting leave campaign ahead!

I took part in a Brexit poll. I told a lady on phone that I will be voting to leave, but I am still undecided. :wink:


That GJ did move nice. I just picked up 7/8's.


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Nice size you have there... :)


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Exit at the best time "you" can, win or lose.
Use size appropriate to your account.
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed Jun 01, 2016 3:50 pm

Braathen wrote:...

Cant seem to get the PnF pic to stand up straight #-o


You could always paste it into your paint program and click the rotate buttons.


This chart is a HIGH/LOW+CLOSE P&F where the close is only considered if closing within an area marks a point for a reversal.
(Extending columns, using closing prices, proved to be a bit much)

I am glad that I am not doing this alone, it is nice to have feedback :)

USDZARH4.png
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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Wed Jun 01, 2016 4:10 pm

MightyOne wrote: You could always paste it into your paint program and click the rotate buttons.


Hmm.. i think your right :idea:

Im still on the high/low method with no closes incorperated.
Ive been looking at it and im not 100% getting the "where the close is only considered if closing within an area marks a point for a reversal".
I am however making the effort to wrap my head around it.

Im ofc trading cones aswell and really enjoying mixing them together looking for points of interrest with my cones and entering of my hand drawn
PnF charts.

Heres an overbought chart with a 1,2,3 into a rally down to the bottom cone.
I didnt manage to get much of this because i was shorting the GJ like a mad man 8)

Image
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Wed Jun 01, 2016 4:44 pm

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Wed Jun 01, 2016 6:05 pm

Ok i get it now. Thanks :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Thu Jun 02, 2016 9:40 am

The PnF charts i have posted so far have been made from 16's on a 4H chart BUT! hehe

I do it like this.. price makes 4 lower points, within the same 4H candle it reverses 2 points, i then mark a new colum with
a higher point. Witch kind of defeats the purpose of using a 4H when i think about it :P

But you wait for it to close in a 2 points+ area before you mark the reversal?
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 02, 2016 12:46 pm

Braathen wrote:...

But you wait for it to close in a 2 points+ area before you mark the reversal?


Below is a detailed explanation :)

Each 'x' is the price above it and the price below it: the points are the 'areas' that price traveled through to reach the point:
-----above----reverse
X
-----below----above
X X
-----reverse--below
It looks like a regular P&F chart but it is much different.

The chart is plotted as a 1-box reversal chart but it is really a 2 line reversal chart.

Remember when TRO would wait for an hour candle to open within a space and trade in the direction that price crossed a horizontal line? Well that is similar to what we are doing here only now, instead of a bar chart, we are using a simplified history of how price moved through the lines.

If an up column:
1) check to see if the high can make new points
2) check to see if the low can make new points
3) check to see if the close can make a reversal column

TRYJPYH4.png
TRYJPYH4.png (49.83 KiB) Viewed 213 times


PS: it is a good idea to buy a large format printer if you are going to be marking charts by hand...
print off some freekin scrolls, man :P, and never run out of room.

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jun 02, 2016 2:04 pm

Holding short after the failure up top. I will play P&F with you guys soon - busy coding and trying to keep manual trade plan on track.
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