TBN / PATe - my experience/Your FREE opportunity

[HiArt99]

Julie is encouraging me to look at Spot EUR/USD to draw my attention away from Crude Oil when it is offering a less than attractive set up. So the attached pdf document may my helpful to you.

Folks, please note that PATe is not just Pivot Points.......it is a blend of Daily Standard Pivot Points (the right ones from livecharts.co.uk ) with BRNs and MPs. That is what makes it tick !!!

 

[HiArt99]

Dentist this morning, no trades

 

[HiArt99]

EU: the multiple failures of 1.3260 (ish) were very obvious and provided me with a SELL signal. A nice 40 pips there as the failure to make new lows below 1.3215 provided the exit.

Crude: Almost exactly the same; multiple failures of 106.35 (ish) and provided me with a SELL signal. A nice 70 pips there as the failure to make new lows below 105.60 provided the exit.

 

[HiArt99]

I saw 106.50 blocking north just after 9 and took a sell that I allowed myself to be bullied off for 20 pip loss. I could have taken this down to Pivot, so I have to learn this lesson. For me Pivot then provided support, so I took a buy at 11, and just exited as approaching red US news at 1:30 for +35. So a nett +15, and as I don't trade Oil Inventories no more today.

 

[KCTiger]

For me this week has been, in the main, a watching brief.

Having discovered that, during the last year and a bit, I have acquired some really bad trading habits I have decided to sit back and watch/study the WTI and EU charts, concentrating on identifying tops & bottoms around PATe levels, too often in the past I have been guilty of jumping in the middle of moves and then suffering the obvious consequences.

Julie has kindly sent another great pdf, this one relates to WTI during Oil Inventories day, I hope that you enjoy it.

 

[HiArt99]

Crude:
Painfully slow session, but through the morning price failed to get back above MP once it got below. Sold here, but failed to get out when price got down to 108 BRN. I was waiting for a retest that never came and had to exit when price could not get below 108.10/15 for only 10 pips (poor exit in the end could have got a pip or two more).

Having established 108 BRN as the bottom, the move to 109 this afternoon was obvious, but missed it as I was walking the dog.
EU:
Much the easier market to trade this morning. Bought when price couldn’t get below 1.3365 but I exited at 1.3395 when it appeared that 1.3400 was resistance. Nice 30 pips, but I really have to learn not to exit prematurely, and another 20 pips was easily there for the taking.

I will take the positive: spotted the entries much easier this week.
Homework: learn to trust that moves will usually go further than just 20 to 30 pips. As Julie has said, PATe is not a scalping strategy and I need to learn to trust my judgement.

 

[HiArt99]

Was at the Doctor's this morning so missed the nice move on both Crude Oil and EU. if I said I felt like death warmed up, that would actually be an improvement! May not trade much this week, unless I feel better.

 

[KCTiger]

EU opened as a R5 and after it had appeared to hold above MP at 07:48 I entered a buy, maybe unsurprisingly this went against me, a) there hadn't really been a significant move above MP and b) London session had not yet opened, another mistake that I made on this trade was riding it for the full loss!

Again on EU after making a LL I kept my eye on what would happen at PP, price breached this area which seemed to indicate that it had further to go, I entered a sell at 09:07 and exited as price approached/appeared to react at 1.34, this recovered my earlier loss and put me back to break even.

On WTI, which opened as a R7, and after making a new session low I entered a sell at 08:12 just below BRN, I managed this trade down to 108.39 at 11:01 at which point the move appeared to be losing momentum so I took my leave for 51 pips.

I have had distractions this morning and therefore probably shouldn't have been looking trade at all, that being the case I am more than happy with 51 pips from the London session.

 

[HiArt99]

I thought I'd feel better after a night's sleep, I'll let you know when I get one! So not only poorly, but now tired, poorly and just for good measure with an additional headache.

Social Services here today for their annual assessment of my disabled Mum's needs, and Doctors this afternoon. Perhaps a lie down if time permits. Don't expect to trade much today.

 

[HiArt99]

New pdf attached

 

[duncmac]

Hi, What are these "rules" that are being refered to- i cannot see these on Julie's site? Thanks for the link by the way- am following up studying her suggestions

 

[KCTiger]

The seven rules are on the 'Trading Strategy' page, here's the link Trading Strategy - Price Action Trading Equation - - Price Action Trading Equation

Please read and re-read ALL of the information on her web site, you can also find daily advice from Julie regarding Crude and EU at this link Price Action Trading Equation - Wall | Facebook

 

[HiArt99]

Folks,

KCTiger is coming to stay with me for a few days, neither of use will be trading again this week.

 

[NVP]

hey all

please tell us where to get the PATe rules as the stuff above is a maze

Then some of the more experienced dudes from this Forum will start giving you some feedback I assume you were requesting when you launched it

thnks
N

 

[duncmac]

The seven rules are on the 'Trading Strategy' page, here's the link Trading Strategy - Price Action Trading Equation - - Price Action Trading Equation

Please read and re-read ALL of the information on her web site, you can also find daily advice from Julie regarding Crude and EU at this link Price Action Trading Equation - Wall | Facebook

Thanks for the links..
yes i have been reading all this (although i cannot seem to get into the facebook site), but still i do not see any numbered trading rules, so i cannot see how i can know which rules you mean ?
I must be missing something somewhere...

 

[KCTiger]

Thanks for the links..
yes i have been reading all this (although i cannot seem to get into the facebook site), but still i do not see any numbered trading rules, so i cannot see how i can know which rules you mean ?
I must be missing something somewhere...

No worries, I'd check your PC for viruses though as when I click on the facebook link that I posted it directs me there immediately!

I'm amazed that people appear to be still having problems locating the rules as I have clearly stated that they are on the 'Trading Strategy' page, I will attempt to clear this up by posting the rules here, however I would say that failure to read the FULL web site, and pay attention to the daily updates on Facebook will make it very difficult, especially for new traders, to implement the rules.

Potential initial SELL signals: to be confirmed post first 30 minutes after open

1. Market opens at or above any of its R levels

2. Market opens below its PP and above its S1 level

3. Market opens closer to its S1 level than to its PP level ( can initially result in some strength due to proximity to S1 that can overrun the first 30 minutes of the open )



Potential initial BUY signals: to be confirmed post first 30 minutes after open

4. Market opens at or below any of its S levels

5. Market opens above its PP and below the R1 level

6. Market opens closer to R1 than to its PP level ( can result in some early weakness due to proximity to R1 and can overrun the first 30 minutes of the open)

And the opening rule that caused major headaches during the analysis stage is as follows:

Potential Ranging Market and Trades to BUY and SELL can arise unless one direction dominates:

7. Market opens in any one of the above positions BUT during the first 30 minutes of the open session price breaches the PP level either from a lower point or from a higher point so that the early session high and low sits either side of the PP.

 

[HiArt99]

Thanks KC.

When KC started this thread it was to bring to your attention a free resource based on Price Action at Support and Resistance, capable of making 350 pips on an average day (sometimes less, sometime more) trading EU, Crude and Dow. My Trading Plan's target is somewhat less than this though, but it is a target I regularly hit.

Our only involvement is that we utilise this system as our method of trading (yes, I do know KC Tiger) and we will not benefit in any way from future sales. As this isn't our system neither KC Tiger nor I are qualified to answer specific questions regarding the system's dynamics.

So could I politely request that if you have any comments or questions relating to the system that you ask the author directly? Just follow the link to website and make contact via the comments facility. You can also make contact via email, Facebook or Twitter. Julie is more than happy to answer questions relating to PATe.

That said, if you are looking for a strictly mechanical system with hard and fast black and white instructions, then this system probably isn't for you. PATe is much more about recognising how Price Action behaves and acting accordingly.

Anyway, there are only three "rules", if that is what you want to call them:
Rule 1 - Sell when price is at the top of a trend
Rule 2 - Buy is price is at the bottom of a trend
Rule 3 - If in doubt, stay out

How to recognise where the tops and bottoms are is contained on the website, but are also in the PDFs I have made available, and takes a few weeks to become proficient at.

Regards.

 

[HiArt99]

Two nice simple entries this morning on Nymex and EU. I have closed for 75 pips in total as Red News is coming up in a few minutes.

 

[KCTiger]

I had both EU & WTI as opening rule 1 sells, for me these were both confirmed when LH's appeared below both BRN's, I am now using single script entry and entered WTI at 07:31/106.82 with a take profit figure of 106.11, this was hit just prior to red news at 09:14 for +71 pips.

EU was a little creepier, I entered at 07:31/1.3182 with a take profit figure of 1.3147, just above S1, however with red news creeping up on me I exited the trade at 09:23/1.3169 for +13 pips, needless to say my stop loss was behind the session high for both trades.

So +84 pips from the European session seems like a great mornings 'work' for me, thanks Julie, I think, with your input, I am getting there, I now look forward to New York open!

 

[jrob]

I discovered PATe several weeks ago, and it has really opened my eyes.
People move the markets, and people do observe what Julie calls psychological levels. The rules are simple enough, and if followed correctly, this system will deliver lots of pips.
Julie has a direct, down to earth approach, and her daily updates are extremely helpful.
I don't claim to have cracked it yet, however any mistakes I have made are due to my own impatience and jumping in to trades too quickly, rather than waiting for the markets to show me the way.
I can see the massive potential in this system, and I am convinced it is the way forward.