The IGROK files - Adventures of a rookie using the Igrok method - Page 2
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Thread: The IGROK files - Adventures of a rookie using the Igrok method

  1. #11
    Quote Originally Posted by ;
    SL hit on Sell order, PA moving away from lower TL for now. Can be a fracture. Hope it is as I now have a Buy order triggered. If I lose on this, I'll call it a day.
    Buy order closed for 11 pips. Not likely to be around to monitor trade any farther.

    So far now I'm up 39 pips. Now this could easily have been almost twice if I'd made better choices, but hopefully I can find out from each incorrect trade.

  2. #12
    Good morning all,

    Greetings students of the sport. Today for breakfast, I'm seeking to do a 19.10 on a massive triangle that may be understood on 30min charts.

    The intitial order is a buy order with price expected to move up. Nevertheless my SL and reverse order are set at 12 pips, therefore if price makes the decision to move south, I'm in the trade. I anticipate large moves on this pair today, as just 62 percent AWR was completed.

    Being in a half drunken country in the early hours, I have to have started this transaction the other way around with a Sell order set outside the lower TL, a 19.9. Particularly so with what appears to be a fictitious break on the upper TL the other day.

    Without coffee and breakfast, and getting up late, logic is continue to join me. But too late now, let's just sit back and see the series:


  3. #13
    Back to stop by my old friend from yesterday, USDJPY. Same setup with this one, great ol' 19.10. Buy order intitiated with the logic that the lower TL rejected price yesterday, so we expect price to proceed upward. SL at 16 pips with reverse order if price makes the decision to go south for the weekend. Also 67 percent AWR completed, so I expect big movement with this pair, hopefully my way


  4. #14
    Quote Originally Posted by ;
    Good morning all,

    Greetings students of the sport. Today for breakfast, I am seeking to do a 19.10 on a massive triangle which can be seen on 30min charts.

    The initial order is a buy order with price anticipated to proceed up. However my SL and inverse order are put at 12 pips, therefore if price decides to move southwest, I am at the trade. I anticipate large moves on this pair today, as only 62 percent AWR has been completed.
    Well, that was well and truly a rotten commerce. First Buy order ceased out to 12 pips, Sell order then triggered. PA messed about around the lower TL, then moved up and took out my SL at 20 pips, therefore -32 pips on this ill fated trade.

    This is the way it looks now:



    Knowing my luck, PA will probably go down again. I didn't place a reverse order for it, so I think me and EURGBP are done for today. What exactly went wrong?

    Either my triangle TLs are incorrect, or SLs aren't put far enough. Apart from that, unless there is some significant price level that I am not aware of, I can only accept that this is among the rare events PA won't accept the triangle it lives in.

    In any case, the better choice would have been to input the commerce from the cover of the triangle, but I am not awake at the time, and I rarely leave trades open instantly.

  5. #15
    Quote Originally Posted by ;
    Well, that has been well and truly a rotten commerce. First Buy order ceased out for 12 pips, Sell order then triggered. PA whined about around the lower TL, then moved up and took my SL at 20 pips, therefore -32 pips on this ill fated trade.

    Either my triangle TLs are incorrect, or SLs are not set far enough. Apart from that, unless there's some substantial price level that I am unaware of, I can only accept that this is one of the rare events PA won't accept the triangle it resides in.
    Having appeared at the failed commerce again, I could see possibly why it did. My first Buy trade should happen to be the one I adhered to. AWR was approximately 62% complete at time commerce was taken, so today we would anticipate PA to move significantly to at least make this 90-100%.

    Now what I have to have done has been appeared at the larger picture:



    As you can see, the low point of the weekly range has been already established on Tuesday, and also the last highest point of the weekly range yesterday. This morning we had a retrace to around 50 percent of the weekly large low range, and it might appear sensible that price will now continue upwards to complete the ordinary range.

    Now what exactly does this imply for our triangle pattern? Well perhaps there is no triangle, just a lower TL that got breached, and a upper TL that got messed up yesterday. So perhaps these lines become undependable. Only time will tell. With more practise and experiance I'd hope to be able to tell the differance.

    In any case, this transaction has edued the value of looking at the larger picture. Especially important on a Friday, we will need to understand where our high/lows of the week are.

    What is worse is that there was actually a better more simple TL breakout commerce accessible on EURJPY now

  6. #16
    Quote Originally Posted by ;
    Back to stop by my old friend from yesterday, USDJPY. Same setup for this one, good ol' 19.10. Buy order intitiated with the logic which the decrease TL rejected price , so we expect price to proceed upwards. SL in 16 pips with reverse order if price makes the decision to go south to the weekend. Also 67% AWR completed, so that I expect big movement on this pair, hopefully my manner

    Well, another one bites the dust. SL and reverse order struck this morning for a loss of 18 pips. Sell order looked promising, only for PA to undo and struck on my additional SL for another 18 pips.

    Reason for collapse? Don't understand at this stage, possibly the TLs are wrong, SL not big enough, etc.. I would still say price will go down again since that AWR is begging to be completed.

    So for this and another collapse, my record so far today is -68 pips loss.

    I think I will stay away from triangles for the time being, but of course if I did not try it and lose, how do I learn?

  7. #17
    Hi,

    I used to use Igrok templates just without thinking about the mid term trend maybe at 4hr or daily charts and confronted fairly substantial failure rate.

    Nevertheless I expect you contemplate trade with the trend and use Igrok templates to buy/sell. Looking at this week, the principal movers currencies is CHF and GBP and it shouldn't be difficult to observe the trend. I'd say trade the simple one... with Igrok templates. Most important, more profit and less stress.

  8. #18
    Quote Originally Posted by ;
    Having looked in the failed trade again, I can see why it did. My first Buy trade ought to have been the one I adhered to. AWR was around 62% complete time trade was shot, so today we'd expect PA to maneuver significantly to at least make this 90-100%.

    Today what I need to have done has been looked at the larger picture:



    As you can see, the low stage of this weekly range has been already established on Tuesday, and also the last greatest point of this weekly range yesterday. This morning we had a retrace to about 50% of those...
    The EURGBP autopsy just gets better and better (or worse depending on perspective) the longer I inspect the trade's dead corpse. Looks like there was a MACD div about the 30 min chart which further affirms the Buy trade was the most suitable choice, and secondly I have redrawn the TLs since the older Valve appeared to be undependable. I'm sure the div goal 0.8380 will be attained today.


  9. #19
    Quote Originally Posted by ;
    Hi,

    I used to utilize Igrok templates just without thinking about the mid term trend maybe at 4hr or daily charts and faced pretty high failure rate.

    Nevertheless I hope you contemplate trade with the trend and utilize Igrok templates to buy/sell. Looking at this particular week, the main movers currencies is CHF and GBP and it shouldn't be difficult to observe the trend. I'd say trade the easy one... with Igrok templates. Most significant, more profit and less stress.
    Thanks for your feedback Songbo. Yes, the larger time frames are very important if using this method, and I guess that's what I've been learning this week: always look at the larger picture. At times it is too easy to observe a setup and just enter it without considering other factors. I believe my triangles have let me down today also, so maybe updating TLs at least two day might be the way ahead.

    As for currency pairs, yes, some have been better than many others have this week. My problem is if I'm faced with 3 or 4 potential trades in the morning, I must choose the option that has the lowest disperse, along with my broker is a thieving cnut in regards to some pairs...!

    Hopefully soon I will have less anxiety and more profit

    Peace and decent trading my buddies

  10. #20
    That which we were just talking about. . .diamond into HS? An individual can only dream. . .lol.


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