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Thursday 26 April 2012

Why Sniper trading



Endless hours spent during choppy market and making debts  made me wonders that my life as an armchair CL trader  would be far easier If I capture a trend day.. 20 minutes in a trend with only 1 CL will give me about a thousand 000 buck.

So how to capture trend days ?. i read LBR's article...Good but too advanced for me, so I decided to write CHECKLIST for myself and readers of this blog, in a way I could understand. I dont care if other's dont understand ;)

also : Nial Fuller's http://www.learntotradethemarket.com/forex-articles/trading-forex-like-a-sniper-not-a-machine-gunner

       Trader X's : http://traderx.blogspot.com/2006/11/chasing-success-again.html
       Trader X's : http://traderx.blogspot.com/2005/10/traders-job.html
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Notes:

1. Flat market, not  choppy, just flat - what diff ?..in choppy market I cant find a line, in flat market, the price can be straight like an arrow.

2. So I can draw a line before trend move - 180 deg or 45 deg etc. A clear line. A wedge consist of 2 converging lines - so it still a line ? got it ? And the candles are smalls and narrow... If I suddenly see a big marobozu candle then I'm late a minute. Cramped candles. ...I may get Long Tail at market's peak & Valley that signed turnround...ignore it if in the middle as it will continue...Doji means market pause..I need to see two next candles to see where the market wanna move. 3 Boys candles means the market slowing . But these candles are paying peanuts if not lined up....Ignore other candles.

3. This TD line has a chance of 80% will meet up with a bunch of crossing emas, or near the emas or hit cross-eyed of these ema

4. This TD line (yes, the same line) is position at a market extreme or near market extreme - LOD, or HOD...even better if these LOD, HOD is near each other, together with PPoint...yes, misery love company ya know...Cramped lines

5. This TD line  is .....surprise!....when I drew back to history..happened to be a major earthquake SR line

6. Where the volume is thin, is where the good thing starts...this can only be checked on live charts...If the move is gone, you'll see the volume is tall as tree . This is elusive...

7. When the TD line is ready, I called it a battle line,  the bullet shall be fired and the blood shall flow...check the cramped lines, checked the longitude and latitude lines, check the crosshair ema....lastly check the slope of ema against that battle line...then draw a dotted line of expectation on chart...visualized the move as if I'm correct.... and put a stop order to enter....Yes stop order, the mouse simply cant catch that whole lightning move in time.

8. If  I wrong, I know what to do....move my target toward the market, not my  loss -stop to the market.

9. If ya right, well the market dont care if ya right.

10. If ya did nothing, even though ya all bright, you can sulk like last night and many many nights....and  your 20 minutes of happiness will be gone forever .

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