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I hope less experienced traders (I dislike the term "newbie") are following [USER=257]@tech/a[/USER] as he monitors the price and volume action in UPD looking for another trade. He's looking for a very small initial risk as this creates larger R multiple winners. This is a very active trading style. It's also great fun stalking these types of trades.

I thought it might be of interest to describe my trading style, which is slightly different using the UPD chart. My last setup was the BO-NH at 1.10. This required an in the market pending buy stop order that triggered a buy when 1.10 was traded. The initial SL would have been placed at 1.00 or just below. As I didn't have the order itm I've missed the trade opportunity. Buying afterwards skews the RR adversely.

I need more sideways price action (creating a box pattern) or a retest of the prior BO at 1.10 (creating a higher low). However if pressed to trade UPD I'd place a pending order to buy when price trades at 1.28 (limit 1.30) with an iSL at 1.19. This would be a BO-NH setup and entry to take advantage of the new demand for UPD. This setup is closer to tech/a's style than mine.

[ATTACH=full]72356[/ATTACH]

My setups are slightly larger (more bars) than tech/a's as I prefer to see levels tested rather than just daily lows and highs being tested.

The best trading style is the one that works best for you. Both tech/a and I can make our trading styles work for us.

<blockquote data-quote="peter2" data-source="post: 957259" data-attributes="member: 13908">I hope less experienced traders (I dislike the term &quot;newbie&quot;) are following [USER=257]@tech/a[/USER]&nbsp; as he monitors the price and volume action in UPD looking for another trade. He&#039;s looking for a very small initial risk as this creates larger R multiple winners. This is a very active trading style. It&#039;s also great fun stalking these types of trades. I thought it might be of interest to describe my trading style, which is slightly different using the UPD chart. My last setup was the BO-NH at 1.10. This required an in the market pending buy stop order that triggered a buy when 1.10 was traded. The initial SL would have been placed at 1.00 or just below. As I didn&#039;t have the order itm I&#039;ve missed the trade opportunity. Buying afterwards skews the RR adversely. I need more sideways price action (creating a box pattern) or a retest of the prior BO at 1.10 (creating a higher low).&nbsp; However if pressed to trade UPD I&#039;d place a pending order to buy when price trades at 1.28 (limit 1.30) with an iSL at 1.19. This would be a BO-NH setup and entry to take advantage of the new demand for UPD. This setup is closer to tech/a&#039;s style than mine.[ATTACH=full]72356[/ATTACH] My setups are slightly larger (more bars) than tech/a&#039;s as I prefer to see levels tested rather than just daily lows and highs being tested. The best trading style is the one that works best for you. Both tech/a and I can make our trading styles work for us.</blockquote>

[QUOTE="peter2, post: 957259, member: 13908"] I hope less experienced traders (I dislike the term "newbie") are following [USER=257]@tech/a[/USER] as he monitors the price and volume action in UPD looking for another trade. He's looking for a very small initial risk as this creates larger R multiple winners. This is a very active trading style. It's also great fun stalking these types of trades. I thought it might be of interest to describe my trading style, which is slightly different using the UPD chart. My last setup was the BO-NH at 1.10. This required an in the market pending buy stop order that triggered a buy when 1.10 was traded. The initial SL would have been placed at 1.00 or just below. As I didn't have the order itm I've missed the trade opportunity. Buying afterwards skews the RR adversely. I need more sideways price action (creating a box pattern) or a retest of the prior BO at 1.10 (creating a higher low). However if pressed to trade UPD I'd place a pending order to buy when price trades at 1.28 (limit 1.30) with an iSL at 1.19. This would be a BO-NH setup and entry to take advantage of the new demand for UPD. This setup is closer to [COLOR=#0000b3][B]tech/a's[/B][/COLOR] style than mine. [ATTACH=full]72356[/ATTACH] My setups are slightly larger (more bars) than [COLOR=#0000b3][B]tech/a's[/B][/COLOR] as I prefer to see levels tested rather than just daily lows and highs being tested. The best trading style is the one that works best for you. Both [COLOR=#0000b3][B]tech/a[/B][/COLOR] and I can make our trading styles work for us. [/QUOTE]

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