Interview with Mark Douglas - author Trading in the Zone

The 5 minute TF S&R trading system

Mark Douglas — Hi, Here's an interview if anyone is interested in his work video Not feeling mentally strong tonight, so won't trade. Cheers, g

The 5 minute TF S&R trading system

Well, if I did go long 17 that would have been nice... I didn't think the action 15 mins ago would have counted as a pullback, since the other 17 was a few hours ago. Clearly it would have worked! I still feel maybe 31 is a short. I'm off to bed. ...

The 5 minute TF S&R trading system

T.h.p - my chart didn't show pullback for 17... I was comparing charts with someone earlier, couldn't believe the difference. On daily. short 31? worried that trend levelling out, so probably won't do it

The 5 minute TF S&R trading system

Short at 42, if it gets there... what do you think?

The 5 minute TF S&R trading system

WOW T.h.p! Good one

The 5 minute TF S&R trading system

Yep, I just gave it all back too. That's my problem... so many false breaks. Told to be SELECTIVE which is what I want to be, but how to select is the problem I have no doubt I'll get there, but the frustration drives me nuts! I have to spend ...

The 5 minute TF S&R trading system

Your BE on half TP sounds like a good idea, but one never knows. 7 pips is just SO close to the price... noise. Let me know how that goes. About your buffer pip. I actually do the opposite. So our entries will be about 2 pips apart. I feel if I ...

The 5 minute TF S&R trading system

not looking good...

The 5 minute TF S&R trading system

I think you may have drawn your resistance line (sell line) off a bar chart, ie. not closing price of bar... Just look at what I've added to your chart

The 5 minute TF S&R trading system

Oh, okay. Yes, that was the right thing to do. I've burnt a few times on trading that late in a trend... just never know when it's going to turn. So a fresh trend is a better idea. I've seen others be brave and win in long trends though. Your ...

The 5 minute TF S&R trading system

Just got target on my AU. I must warn you... I'm not having more wins than losses yet, so possibly not the best person to learn from.

The 5 minute TF S&R trading system

You went short at 97. Is that right? Glad you had a good trade! I don't see a pullback though, so if you wanted to trade the letter of the law, then you'd have to trade on next pullback to 97, not when it first went through.

The 5 minute TF S&R trading system

So now, in theory, if you thought AU was showing strong downtrend, you could sell on pullback to 70.

The 5 minute TF S&R trading system

I think the V forming on EU now looks good, but it's only validated by two stops below 97, then sell on return to 97

The 5 minute TF S&R trading system

I've drawn a chart of your resistance

The 5 minute TF S&R trading system

Goldfish, my opinion is that your V just doesn't look much like a V. Not convincing. I've asked in this forum before about whether the depth of the V mattered and was told to judge it with my eyes. So I interpret that to mean that it must 'look ...

The 5 minute TF S&R trading system

Will get back to that in a few min's goldfish. I think AU is setting up for short... supposed to close below 74 twice and then short at 74 if it comes back there. Don't live trade it...

The 5 minute TF S&R trading system

When I'm looking for reversals, if the trend is up, then I usually only try to get in if it was a strong uptrend, then trade the reversal down. Does anyone know, is that right, wrong, or neither here nor there? I.o.w. would it be as good / better if ...

The 5 minute TF S&R trading system

Hi Goldfish, As you know, I'm still trying to get this... but some of the theory. I'm not sure whether you're intentionally doing these things differently, because you didn't mention them, so I'll just point them out in case you're not aware. fx ...

The 5 minute TF S&R trading system