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A TopStepTrader's Real Money Combine


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A TopStepTrader's Real Money Combine

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  #11 (permalink)
Market Wizard
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Dojis represent indecision.

However not all Double Doji breaks can be tradable.

Here is a risky Double Doji break that setup up JUST NOW which should not be traded to the downside:




Can you guess why?

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  #12 (permalink)
Market Wizard
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A double doji break setup is a with-trend setup again.

When there is a good trend ongoing and then a pullback brings prices back into the 20 EMA zone then the following qualify a Double Doji setup:

- There must be two or more doji bars

- The size of these bars must be smaller than the surrounding bars of the pullback.

- There must be no visible or obvious chart resistance obstructing the path of the DD break target.

As I write these lines look what happened to our dear little Double Doji Break:

Price never reached its target. Why? Some reasons could be:

- The DD break was obstructed by clustering action of the block to the left (marked with a box)

- This was never a valid DD break to begin with even though the false break had shattered the bulls hopes - look at the huge size of the dojis compared to the pullback they originate from.

I will post the a chart to demonstrate once the price action plays itself out.

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  #13 (permalink)
Market Wizard
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To continue our learning here I have marked out all the reasons why what happened was 'expected' - that is a taboo word, but the probability of that happening over prices moving down were tipped by overly eager traders themselves.




Trading is always reading the points where the most traders are likely to get hurt and bail out to help your trade.

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  #14 (permalink)
Market Wizard
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The 10-tick target is now achieved!




I have also marked two places where I could have entered long if I hadn't been aboard.

Those are range break and inside range break setups I will be discussing shortly.

Its amazing how head and shoulders and these setups coincide often.

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Market Wizard
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Should a trader be on the agressive side - i.e. should be be quick and jump onto a moving train and trade valid first breaks for example OR should he consistently excercise prudence and skip the first trade and take the more validated second break?

It depends on the trader of course.

If a trader is:
nimble
agile
quick with execution

then he can catch a winner on a aggressive trade with consistency.

However it should be remembered that the fastest ones are not always the once who get the trophy. They can easily get sucked into being in position of the extremes of false breaks and there the ones with prudence have an edge.

The answer really is that a trader must do what matches his ir her personality and DO IT WITH CONSISTENCY.

He cannot be jumping on aggressively on one trade and trading another similar setup with prudence next just because he was burned on the last aggressive trade!

CONSISTENCY is the key!

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  #16 (permalink)
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Here is a real-time example I am trading now to the long side:


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  #17 (permalink)
Market Wizard
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The problem with trading the EURUSD with a forex broker with a small account is the 2.5 pips spread!

The most that a 10-tick target can net a GOOD trader is 5 ticks. Sucks!

However since this is simply to demonstrate my strategy for the combine it should currently do.


While my ARB target is 1.3134 I believe that it will be a tiny part of this huge (for a scalper) H & S that will have a target equal to its height!


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  #18 (permalink)
Market Wizard
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Now is a good time to wait and excecize patience

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  #19 (permalink)
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It may also test the last arch and try to go down till the low of the right shoulder.

Let's observer together.....

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  #20 (permalink)
Market Wizard
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I hope it is clear by now that I will be focusing on Bob Volman's methodology in this combine.

Here is the RB trade I was anticipating - not taken it yet! Early birds do not always catch the worm!


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