10.9 DAILY/WEEKLY TRADES ONLY

[Jemook]

Nice post Boldtrader

[boldtrader]

Nice post Boldtrader

Thank you kindly, sir..

Cheers

[boldtrader]

Thought I would share... Still using 10.7 & 10.9, adapting it to my own style. Just closed out GN for nice swing hold.. Initial trade based on open price targets I refer to as MST's (Market Structure Trades). Using ATR channels, Sto7, Weekly Sto and GANN Octaves.. closed at the 2 open MST levels.

Trading in the direction of Weekly and the open MST's, both TP levels hit for +256 pips and +303 pips.
These are beautiful trades and are consistently profitable. Shame on the crims for leaving these open (LOL). As a reminder, I have shared why these levels are important in previous writings. Education is a must.

There were a couple additional CT trades for this pair, but these were the main trades.

#1_2014-05-06_1541.png

Now long GN from 1.9370 with TP @ 1.9515 (open MST). Will look for accumulation to Target.

As of this posting, position is +43 pips.

Cheers..

[jago25]

10.9 W1 trades are flashing up for many NZD pairs. This is due to mention of 'they will intervene' -print NZD... so does this count as something that can early kickstart a bigger move down or will it return back to where it was as these things usually do? I guess around news this doesn't count as 10.9 trades, right.

My savings are actually in NZD. I was getting ready to swap to... maybe JPY. Then this came early. I traded a few shorts on NZDUSD and NZDJPY just before the news so made a few pips but.. well, back on topic. It's hard to tell how long to stay out of the market around news.

[boldtrader]

Thought I would share... Still using 10.7 & 10.9, adapting it to my own style. Just closed out GN for nice swing hold.. Initial trade based on open price targets I refer to as MST's (Market Structure Trades). Using ATR channels, Sto7, Weekly Sto and GANN Octaves.. closed at the 2 open MST levels.

Trading in the direction of Weekly and the open MST's, both TP levels hit for +256 pips and +303 pips.
These are beautiful trades and are consistently profitable. Shame on the crims for leaving these open (LOL). As a reminder, I have shared why these levels are important in previous writings. Education is a must.

There were a couple additional CT trades for this pair, but these were the main trades.



Now long GN from 1.9370 with TP @ 1.9515 (open MST). Will look for accumulation to Target.

As of this posting, position is +43 pips.

Cheers..

Quick update.. GN target just got hit for +145 pips..

#1-2014-05-06_1855.png

Awesome.. gotta love those open points from crims..

Now looking for minor retracement back down to 1.9407/15 area.. Now short @ 1.9510/1.9500, targeting 1.9415 area. After this series of moves, then we look for larger breakout of this range.

Cheers...

[nanningbob]

The 80+ pip stop hit occurs when markets either gap or have huge spreads due to news, economic releases, etc..

There are three main reasons these events occur:

1) The spread is widened or a gap on open occurs or a new release causes the market to jump a large number of pips and trips your Stop loss order. Once the order is tripped, it becomes a market order and is filled at the next best available price, which could be 50, 80, 100+ pips away. What the dealers / brokers will tell you is that since price did not trade at your Stop level, your order can not be filled.
That can often be 50,80, 100+ pips away from actual stop order price.

2) A second issue that occurs is that price does trade at your level but there is insufficient order flow to fill the order and then the order is passed on to the next available market trade price. The dealer/broker is not obligated to fill at the specific price (if ECN or non guaranteed broker).

3) A third issue which often occurs is that price does trade at your level and trips your order. However, by the time the order is electronically submitted to the dealer for a fill, price has moved away from your order fill price. If the dealer's quotes are not within the tolerance limit of the dealer's acceptable fill range, the dealer passes on the fill or fills at the next best price which can be 80 pips away from the initial stop level.

This is a perfect example as to why you trade with an established trend, trade small or even smaller and set stops far apart (if used at all).

Cheers

Thank you for your posts. I am busy with testing this week so wont be around too much.

[dclayw]

Now long GN from 1.9370 with TP @ 1.9515 (open MST). Will look for accumulation to Target.

As of this posting, position is +43 pips.

Cheers..

Good trade, looks like it has reached your target now. At the time you went long here on GN the weekly Sto (red line) was down, so you were trading against the weekly Sto at that point? I know you have several criteria for entry, some of which is proprietary (obi waan etc) but I'm not quite understanding your entry at 1.9370. Why did you enter right at that point? I see the old resistance back on 8,9,14 April, but it was against the weekly Sto.

[boldtrader]

Good trade, looks like it has reached your target now. At the time you went long here on GN the weekly Sto (red line) was down, so you were trading against the weekly Sto at that point? I know you have several criteria for entry, some of which is proprietary (obi waan etc) but I'm not quite understanding your entry at 1.9370. Why did you enter right at that point? I see the old resistance back on 8,9,14 April, but it was against the weekly Sto.

Thank you for your question. Please consider the following.. (and I hope this will answer your question, if not, let me know).

I will begin this with .. I do not expect anyone to believe or accept or understand what I am about to write.. but.. many years of trading and experience .. well.. I think you will get the picture.. My trading record, my thousands of alerts, my many many hundreds of postings (both here and to my clients) speak for it's own record.

HERE IS WHAT I WAS TAUGHT AND HOW I LOOK AT THE MARKETS: Markets move based on stops.. buy stops, sell stops, etc..( I could write a whole book on this subject alone) After a majority of stops are cleared, THEN the true market volume traders move in. Look at where my targets were located.. they were small, obscure price points.. ie: resistance levels which were broken but not retested (uhmm. this is private info I am sharing with you).

Within a larger time period, Daily, there was a key Trendline.. As I scaled down into time.. H4, H1.. there were 2 price points where price had not traded back to these two specific levels (based on criteria). This left these two price points open as targets. HOWEVER.. there is a key to this setup.. and I have posted this before in previous postings.. These targets are not activated until a specific event occurs.

What you do not see is the corresponding levels of my entries.. If you examine where the price points turned (/near my entries).. they will correspond to previous MST levels that were left open. So somewhere back in history (MILLION DOLLAR TIP), were MST levels open.. were price needed to trade UP to .. and then expected to reverse.. Thus my confidence and comments about trading from MST to MST.

Notice the series of trades I just posted.. In advance.. I stated exactly where the markets would move to.. and they did so... 100% accurate. I have yet to see these MST levels fail. Now call me crazy, strange.. a bit eccentric.. but it is what I was taught and learned while working behind the desk.. Realistically, the only tool that is needed is a TL and the knowledge of these stop levels. The great tools Bob and the team of amazing programmers have created are fantastic to give visual alerts to trend and counter trend. The use of CSS, is utilized as an advance trade condition alert..and is a fantastic part of my arsenal of trading tools. CSS is an amazing utility to monitor for potential conditions to occur. The prop tool I created alerts me to a change of conditions in advance of the move.. I use essentially these tools to make the decision.. but, at least for me.. my style.. it begins with identifying the MST levels. They are my targets. They can occur on all time periods.. but for myself, I primarily look for H1 and H4 setups for targets.

I use Sto to the inverse (when it has established itself into the zone) .. If there is an MST up high.. and Sto7 is down low ( I refer to this as the lower zone - LZ), then it is a condition for me to begin to look for a reversal of price. Since I cannot sell when Sto7 is in the LZ, I can only look for a buy.. and if there is an MST where price is hitting in the LZ.. and there is an MST up high.. then I look for a buy long position. It is inverse trade logic.

Yes, I was trading against weekly.. remember.. markets vibrate up and down.. even within a weekly price can move several hundred pips.

Markets most often reverse off of these key levels. I was short GN.. and closed.. and simultaneously traded long at the same price I closed.. The MST level was also at a Level 1 Gann octave.. this gave me confidence that price would bounce AT that level per GANN Octave rules.. I was also prepared for a move down to the next octave level lower where I would have added to my position. I prefer to trade small and build/accumulate a position toward an MST target.

Understand this.. I have 100% confidence in these MST levels being hit.. Some take longer than others.. but they get hit.. period.. end of statement.. Again.. call me weird, strange.. whacky.. even crazy.. but this works. It is what I was taught and have learned after watching 1000's of hours of chart time. How else can I make a trade call and tell you where the market will go.. IN ADVANCE? and alert publicly to that move at least 1 bar (period) in advance!.

It wasn't always like this.. I would identify a target.. only for the market to move against me.. by some crazy amount of pips.... stopping me out .. and then really make me question my humanity and ability to trade and deal with the markets as if I am lower than a worm crawling across a 200 degree pavement.. it would really piss me off.. knowing, as smart as I (think I) am, with years training, knowledge, working with clients, managing accounts, advising large funds, working on a live trade desk with a top 5 futures commodity firm.. and I get worked over by the markets..

and THEN.. the market moves into the direction I originally planned.. and to make matters worse.. my target gets hit without me. Really ? Are you kidding me? I just went without a week of sleep to monitor the position against adverse moves.. and you stop me out.. and then you go to my original target? GIVE ME A BREAK.. I QUIT.. Ever Feel this way? I think just about everyone here who reads this post will relate to my thoughts and feelings..

I began to notice something.. how the markets moved.. and more specifically where they moved to .. then I examined why.. The WHY is what needed to be answered.. after several months.. It knocked me upside the head.. and bit me like a rattle snake in that 200 degree desert.. The markets were reversing off of the stop levels on break points.. (shhhh.. dont tell anyone.. its a secret)..

You comment.. "... but I'm not quite understanding your entry at 1.9370. Why did you enter right at that point? I see the old resistance back on 8,9,14 April, but it was against the weekly Sto."

Stochastics only form based on what price has done.. it is not a leading indicator.. it is a great indicator.. don't get me wrong.. it reacts very fast.. and is great for trading.. I use it as a great confirmation and work the signals very nicely and make a lot of pips with it.. but .. It can not tell you what the market is about to do.. it can not read the future.. it can not alert you to future moves.. I entered specifically at the MST level target.. with the knowledge, training and expertise and confidence that 1) the market would reverse at or near that level and 2) there was a MST level up higher which needed to be hit.. that was formed on the drop of price in order to clear out the two MST targets which were left open. So understand.. that 1) the price levels were identified IN ADVANCE.. and 2) As price is moving.. and moves as expected, the stochastics react to how price is moving and confirm the expected price action.

I subscribe to the wave in a wave principle (GANN).. while the weekly wave is down.. there are smaller, faster waves occurring.. much like radio waves vibrating at faster and various frequencies all within the same larger wave. The system is not perfect.. but it does work.. This does require strong trade management principles and the adherence of the trade management rules you establish. You MUST trust the system.. and the only way to do that is to learn it by Following it, Experience it, Then You will Believe it.. then the system will prove itself to you. Then you will trust and change.

There is an unquestionable, undeniable, irrefutable evidence of price action reversing at MST levels on ALL time periods and that creates an incredible opportunity. It only requires the training and knowledge necessary to identify these levels and all the various nuances involved.

As I stated in the beginning, I hope you are able to understand why I traded at the specific levels and how I expected price to react at these certain levels, in advance, and make some very good trades. I like planning my trades ahead and using MST levels allows me that opportunity.

By the way, Billiards and Chess are two of my favorite past times, as well as Scuba Diving (I am a Certified Master Diver, Rescue Diver, with Mixed Gas Certification and Wreck Diver). I add this because of the calculating nature of these activities require. Kinda lets you know a bit more about me.. and how I think.. crazy, I know..

But.. hope this helps..You know how to reach me if any questions..and as always.. if I can be of assistance, to anyone.. please feel free to reach out to me.

Cheers..

[zentauro67]

Hi, boldtrader.

Great post! Could you give me some advice on any thread dedicated to MST levels? I would like to study the basis. Altough I have read a couple of books on Gann´s live and theories I have never praticed the octaves and I feel a little lost looking for information on the web. I have some Murray lines indicators but I have no idea of how to integrate them to my trading. Do you use the default 64 period?

Thanks for sharing your knowledge. (I´m also a big fan of chess. Maybe some day we could play a game)

[xrismak]

Hi, boldtrader.

Great post! Could you give me some advice on any thread dedicated to MST levels? I would like to study the basis. Altough I have read a couple of books on Gann´s live and theories I have never praticed the octaves and I feel a little lost looking for information on the web. I have some Murray lines indicators but I have no idea of how to integrate them to my trading. Do you use the default 64 period?

Thanks for sharing your knowledge. (I´m also a big fan of chess. Maybe some day we could play a game)

Zen,

Okay Just Thinking Aloud.png

I Rest My Case.

Happy Trading,

xrismak