PowerTrading/The River - page 7

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Here is why

PartyPips:
Hello PowerTrader,

Why you didn`t take the long at 5:45 GMT candle?

Thanks for your help.

PartyPips

Had that been the GBP/JPY I would have taken that trade. But because of the time of day, I treat the cable differently. I take great care on the cable and usually do not trade it before the European session. It is usually just ranging before that time. There are exceptions but you will have to practice with this for a while until you get it.

PowerTrader

 

Bluto & Others:

Don't get completely carried away by this Method, I have traded Artemis Breakout a Range breakout method (leased EA) I showed a breakout at 1.9630, and the River Approx was 1.9624 on GBP/USD, Dolly & WWS 9.4 also showed a breakout,. This is a Range breakout Method pretty pure and simple, today was a clean breakout of the GBP, in the Month Mid February to Approx Mid March we DID NOT have many clean Breakouts in the London & New York Sessions, (Ranging Market to most extent) compared to NOV, DEC & JAN which were quite good with hardly any reversals.

Although the Method is quite good, keep in Mind this is similiar to MANY other Breakout methods in the London Session, basically a good method, but based on what I have seen with Dolly and others it's usually best to wait (at least for the GBP) till start of london session and wait for the Breakout maybe the GBP/JPY is different I just don't know)

There will be false breakouts, due to a reversal from time to time, it all depends on the market that's why GBP work's the best with Range Breakout the movements are fairly clean and well trended.

just my opinion.

 

Other

Here is the beauty of this method. With this pair the GBP/JPY, although you did get an early breakout, it never came back and hit the SL on the other side. Therefore you would have remained in the postion. Again, you need to spend some time with this method to get to know it.

I hope this helps

 

So Smooth

PowerTrader,

You are totally smooth. Good job today in the TS room. I only got a portion of the move on the cable but also picked up a few pips on the gyen on reversal. I know you were well over 100 pips today but I am not too far behind with 93.

For everyone, some things I would like to add to PT's comments. Know where your daily high and lows are located. Also draw trendlines on the CCI for longer moves and I draw them on shorter term moves too.

One more thing that makes it work for me. I trade in a group but I also trade with a buddy too and having that support is great. Read some of Rob Booker's ebooks and just learn as much as you can about support and resistance.

Be cool PT

 

Thanks and ??

PT,

Thank you for posting this trading concept although I trade with basic trendlines, pivot points, and fibs. This is very interesting.

I pay attention to larger time frames. In your experience, will this river trade work on a 1 hour chart? Would that prevent some of the false breakouts?

 

Your question

Pippage:
PT,

Thank you for posting this trading concept although I trade with basic trendlines, pivot points, and fibs. This is very interesting.

I pay attention to larger time frames. In your experience, will this river trade work on a 1 hour chart? Would that prevent some of the false breakouts?

It can be used on other time frames. I refer to the 1 hour and 4 hour frequently as well as the daily, but more to see overall direction. Do some backtesting on the 1 hour and see how it works out. One other thing is using a channel to define movement. I will be addressing that later.

PT

 

indicators?

Thanks Islandhome,

I'll take a look at FF. But since Steinitzs HAS uses an indicator, can you post it here or just PM me with the link? This will eliminate having to fish through 100's of posts. Thanks again.

 
islandhome:
We are encouraged to make the SRDC method our own by Teacher Roshan.I have been using a variation of the SRDC theme For those wishing to improve entries of SRDC 5 THE CHUNNEL take a look at Steinitzs HAS method in FF. Also take a look at teachers previous posts in ff. This will help you filter SRDC 5 effectively. Why wait for powertrader to show you the filters when they are already posted. Remember each facet of the SRDC method works hand in hand.I have been using HAS MTF and HAS 2 bar indicator to confirm earlier entries to srdc 5 for over month with uncanny accuracy. Hope this helps.

sounds like a f@!*#ng cult

 

Why Post Here?

Cryten:
sounds like a f@!*#ng cult

In regards to the Orangites who post here. The only reason they are posting here is to recruite you to their website and to disrupt anything that the Power Trader's group does. Many of us were Orangite followers until we woke up to his controling tactics. I don't believe Orange is a bad person but he does like to control everything about his trading methods and those who choose to follow him. To the outside world it's starting to look very much like a cult. The reality of the situation is the Orangites didn't like the fact that many of us decided to go our own way and they are very bitter about the split. Does this sound like a group you would want to be associated with??? Ask yourself that question...I know I did.

 

fibo pivots

Would you guys mind linking me to the fibo indicators you use?

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