thread: The Touch Trader Method

this one may work out, but I wont trade this live..dont prefer to see contradictory trends

Glad I happened into this particular thread. I discovered my 2 layer confluence signature trade. Missed it. Nice bounce the 200 EMA and fib off. Taz, will you say more? I presume maybe another fib or monthly HL etc.. Thx

edit: now I see this trade is one you mentioned - well around precisely the exact same place anyway. Oh I see where you're touching the monthly.

Confluence alert! ) How's this look? Monthly, 100 ema, and fib.

Confluence alert! How's this look? Monthly, fib, and 100 ema.

How did you get monthly high in there? Can it be from preceding month. . Still trying to determine how to draw on everything.

How can you get monthly saturated in there? Is it from preceding month. . Still trying to figure out how to draw all.

I'm just looking back some months and find highs and lows. It's really from March and July lows and looks like a few weeklys. It has to be a little higher than my preceding chart, but it is in that area.

[quote=sentinel777;4186519]

You have got a very nice blog there. Thanks
since I see your chart I see pure S/R and trendlines.
Yet another thing I see heroism and lack of patience.

Why would you violate even a trade simply because you're feeling a fanatic,I mean,each trade isn't a runner,I know market gurus say that let yous profits run and cut your losses short,but that does not mean your let each profit become a web break . [color=Blue]I dont really understand what you mean. I tried letting my profits run before this year, but I did...

Hey Sentinel,
I don't trade monday's so no transactions now.

The reply to all of the responses will be as below.
I saw on your charts that you're actually trying to run every transaction in the past,I think you don't do it today and is a good thing.
We should never let a possible profit become a loss.

In certain transactions I saw you're trading based on R,I would take profit even if my Ris not matched becuse if another point price is going to rebound it is going to rebound no leniency on this criteria.

Market does not care wheather I have 20 pip stop loss or 40 and I want 40 pips.
If next bounce was only 15 pips off then I was better off not accepting that trade.

Some transactions as I see were not purely touch transactions, this I say because if you will see confluence on your transactions it is going to improve your trading all together.
You just exchange S/R and trendlines,and there are chances price may spike up and down triggering your stop,that will violate my first criteria a touch trade should never turn towards my stop loss point,if I have two or more variables ling up in my favor I will nail a great touch trade.

Your responsibility is to take transactions where you can put a stop loss as tight as possible.
You took trade where there was an opportunity if a single level violated there was no protection,but I have everal amounts at one area.

Hope you know what I mean.

I believe your comprehension of S/R is deep,as I saw your charts I felt it.
I only wanted to know how you draw S/R,you draw them daily or even weekly.
Should you draw them weekly your trade will be enhanced.
Yeah,that is exactly what I wanted to see.
Regards
Taz

Ok, after looking in the thread I really like the idea of just using this set and forget method. . However, I don't actually understand how to begin it. .

My interpretation is currently drawing the weekly high low(for last week), drawing fib lines and searching for places they overlap to place pending orders together with the assumption price will bounce off.

I do not know what PPZ stands to get sorry, would you describe.

And without having to be statistically appropriate. . What is your probability of winning to losing trades?

Also some other questions, do you usually...

Should, you or I take any commerce in a great loion there is very less chance it'll turn me against.
If I put my commerce and forget it,I will probably be better off,because sitting wont move the market in my favor in fact I will screw the commerce if I feel anxious,hope I got you here.

Correct you should use weekly high/lows and trendlines for time good places,and check numerous fibs at same location,I same reduced TF and in higher TF.
Ie;;;;draw lines on weeklies and drop down to 4 hr and draw fibs there that float in your places.

PPZ is another phrase for Support/Resistance.
Price Pivot Zones coined by our loved ones James 16.

My winning probability is 70-80 % and sometimes better.
I pick good places only,I told you that I was going to incorporate this specific trading within my arsenel I have tested this and am having good results.
I required three to four live trades using it and is still working 100% fine.
I have several demo records on this they are good.

A larger accounts less% will be a big quantity.

It is possible to certainly bank 700 pips a week from this that is all I can say,that is for beginning, just use MM your trading will reach a new level.
Take proper position size always.

I tested this method for 6 weeks.
I have an experience of 1.2 years will look less but I demo traded extensively side by side.
I can post some charts which will clarify thing a bit more.
Regards
Taz

Thanks bro for your pleasant remarks. I'm bit of a trader and do not like to see that my profits turn into a reduction as I do not spend an excessive amount of screen time. So I did put my limit buy order around .9830 and bagged 55 pips profit.
Regards
Dan

No Problem bud,
People biggies will come to you.
Hope to see more charts in the side.
Regards
Taz

Nice thread Taz.

I'm a beginner trader, and interested in this technique. I am currently learning similar methods, although thus far I have concentrated on PA confirmation.

I'd appreciate it if you could comment in my evaluation of USDJPY (attached) to help me understand what I am becoming wrong and right.

James.

Hey G,
You have the concept of confluence nicely enough.
But let me tell you,the Trendline is great,but you should take Fibs from daily chart,that is 4 hr chart right,and take a bigger swing that your probabilities will get improved.

Use Weekly chart
Use trendlines with atleast 3 bits.
Use bigger swings for fibs.

Insert 78.6 fib to your arsenal.
And Visualize major S/R areas on your trading points.

I will post a chart on visualizing major and biggest places in gambling,stay tuned.
regards
Taz

this you can workout, but I trade that live..dont like to see conflicting trends

Sentinel,
I believe your charts are good,the only reason this style of trading did not work out with you in the past has been, I figure impatience and improper MM.

Your best it's a fantastic spot I saw that the weekly chart it's a visible swing low.
If I saw more things there I could tell.
Great functions,
it's heading down right from there.
Taz