It is all a Fugazsy

This is a discussion on It is all a Fugazsy within the Trading Journals forums, part of the Reception category; Originally Posted by neil Just seen this. Reminds me of this chaps style of trading which might interest you: http://www.forexfactory.com/showthread.php?t=163972 ...

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Old Jan 10, 2015, 1:32am   #31
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Originally Posted by neil View Post
Just seen this.
Reminds me of this chaps style of trading which might interest you:
http://www.forexfactory.com/showthread.php?t=163972
I had a brief look at it, seems interesting. I think if discipline is keep at bay, good money can be made, the importance of knowing when trading is in the range and stay out of it will make a huge difference, trading is very addictive and the impulse to pull the trigger when there is no need for it is big.....anyway that is another story....

If I may say, maybe by placing a SL above/below the pin bar will not be a great idea depending of the size of the bar for at least a good RR of 1:2, in that case an entry of one pip plus spread as a stop order to confirm continuation below/above the signal bar with a SL of about 5 pips could be an idea or you can scale down to a smaller TF and place the SL above/below the bar that broke the high/low of the 5m bar. (signal bar)

Of course how the bar ends (shaved or not) needs also to be taken in consideration as the direction of the least resistance.

In the case of the RSI for divergence, personally I would not go that way, indicators are only a consequence of price and a step further and they can indicate signals that are not there. But still I would take trades with a Pin Bar in the direction of the opposite trend by the use of reversal patterns, especially wedge reversals and 3 pushes up/down, of course I would trail my SL very quickly.

Also I would not take a pin bar entry just because of the pin bar, a pin bar in a strong trend does not mean necessary reversal, but just a trap, a second entry will be needed.....

Last edited by Fugazsy; Jan 10, 2015 at 3:02am.
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Old Jan 10, 2015, 2:54pm   #32
 
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Originally Posted by Fugazsy View Post
I had a brief look at it, seems interesting. I think if discipline is keep at bay, good money can be made, the importance of knowing when trading is in the range and stay out of it will make a huge difference, trading is very addictive and the impulse to pull the trigger when there is no need for it is big.....anyway that is another story....

If I may say, maybe by placing a SL above/below the pin bar will not be a great idea depending of the size of the bar for at least a good RR of 1:2, in that case an entry of one pip plus spread as a stop order to confirm continuation below/above the signal bar with a SL of about 5 pips could be an idea or you can scale down to a smaller TF and place the SL above/below the bar that broke the high/low of the 5m bar. (signal bar)

Of course how the bar ends (shaved or not) needs also to be taken in consideration as the direction of the least resistance.

In the case of the RSI for divergence, personally I would not go that way, indicators are only a consequence of price and a step further and they can indicate signals that are not there. But still I would take trades with a Pin Bar in the direction of the opposite trend by the use of reversal patterns, especially wedge reversals and 3 pushes up/down, of course I would trail my SL very quickly.

Also I would not take a pin bar entry just because of the pin bar, a pin bar in a strong trend does not mean necessary reversal, but just a trap, a second entry will be needed.....
Each to their own. I trade this way successfully, with my own touches. You do not take an entry because it is a Pin Bar -that way you lose more often than not. Many other things have to be taken into consideration. There are other reversal patterns and price structure such as support etc to be taken into account when looking at the BIGGER picture.
You would have to spend weeks reading the thread and reading like approaches plus testing before you come close to understanding the material in the post. Regard it as just the beginning. If interested then spend a few weeks looking at it and testing. If the approach or subject does not inspire you to delve deeper I will understand. There is no need to get back to me since I offer the reading material simply for your perusal -if you decide to study it in depth then fine. If it does not appeal to you, that, also, is fine. Good luck with whatever you do.
Regards
Neil
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Old Jan 12, 2015, 11:14am   #33
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Fugazsy started this thread Second trade of the day, strong trend down, I was waiting for a PB but was not coming.

Patience payed at the end, PB to the ema, target reached.

My first trade was a loss of 3 pips, initially 5 pips then 3, just before the break, my direction was right but she went into range.
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Old Jan 12, 2015, 11:17am   #34
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Each to their own. I trade this way successfully, with my own touches. You do not take an entry because it is a Pin Bar -that way you lose more often than not. Many other things have to be taken into consideration. There are other reversal patterns and price structure such as support etc to be taken into account when looking at the BIGGER picture.
You would have to spend weeks reading the thread and reading like approaches plus testing before you come close to understanding the material in the post. Regard it as just the beginning. If interested then spend a few weeks looking at it and testing. If the approach or subject does not inspire you to delve deeper I will understand. There is no need to get back to me since I offer the reading material simply for your perusal -if you decide to study it in depth then fine. If it does not appeal to you, that, also, is fine. Good luck with whatever you do.
Regards
Neil
I only gave you my perception..... I have my own way of trading.....I have not time how others method....but thank you anyway...
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Old Jan 12, 2015, 11:24am   #35
 
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fugs in around 16/17 area (above trade ???)
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Old Jan 12, 2015, 11:30am   #36
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fugs in around 16/17 area (above trade ???)
lol, I miss you too.
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Old Jan 12, 2015, 11:40am   #37
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Fugazsy started this thread I will not be considering going long this before the break of the TL and even after that I would only consider short for a test of the recent low first and then maybe...
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Old Jan 12, 2015, 11:40am   #38
 
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lol, I miss you too.
I am blshing now , my mother told me to watch out for a Click the image to open in full size.drinker
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Old Jan 12, 2015, 11:44am   #39
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I am blshing now , my mother told me to watch out for a Click the image to open in full size.drinker
Salute......by the way, I think you need a real beer....
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Old Jan 12, 2015, 11:57am   #40
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Fugazsy started this thread done for the day, my goal is to make 5 pips a day, everyday, someday I make 30-40, but that is not the rule, actually it happened only a few times, I have to make 4 winning trades without a loss to make 40 pips.....My goal is to increase volume not pips gain.

I only trade 4 hours from Franky open and I am clued to the screen all this time and to be honest I would not trade more than that..... I love trading and I want to keep this way...ta

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Old Jan 12, 2015, 3:00pm   #41
 
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I only gave you my perception..... I have my own way of trading.....I have not time how others method....but thank you anyway...
Sorry for trying to help
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Old Jan 12, 2015, 9:00pm   #42
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I will not be considering going long this before the break of the TL and even after that I would only consider short for a test of the recent low first and then maybe...
In hindsight:

a) Did break and revisited the recent low, a second entry would make sense.
b) Double bottom
c) a poke of a TL
d) double bottom bull flag and IB
e) a tap of the TL with very little risk
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Old Jan 14, 2015, 7:22am   #43
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Fugazsy started this thread one of my 3 trades yesterday: a large bear trend bar, I was looking for a second leg, went short 1 pip below the first reversal bar.
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Old Jan 19, 2015, 1:54am   #44
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Fugazsy started this thread Eu l 57 sl 52
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Old Jan 19, 2015, 1:56am   #45
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Eu l 57 sl 52
sl to be
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