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Spider's Den - WWi Edition

Tinojazz

Professional Trader Since 2007
VIP Member
Dear forum members I have the honor and the pleasure to present the

Tarantula from FF forum. Our forum is expanding

and soon it will reach a mile stone in membership counting the 100 000 members.

With such a growth we wanted to strengthen the membership with professional

traders, who can contribute to the world wide invest forum community,

Tarantula is one of these guys. Following his work

on FF( his Spider Den thread under Trading

Discussions) and also his work as a manager on several managed accounts I can

only say that he is shy star, shining in the Forex sea, and I am really lucky that he

accepted to open a thread on this forum .

On this thread Tarantula will describe how he uses

his system, and also write the analyses of the pairs he trades.


Tarantula the Thread is yours.
 

Tarantula

Member
Hello all forum members and traders

Hello all forum members and traders

Hello traders!

My name is Nenad and I am a full time trader and account manager. I have also been known as Tarantula (T@rantula) on many websites, most prominent being Forex Factory where I run the thread named Spider’s Den. My thread has gained more than 2.130.000 visits and I have opened it less then 2y ago. Its one of the most read threads on FF website.

I have also a Serbo-Croatian , and I have been doing every day analysis for Admiral Markets as outsource where I also write about different strategies for novice traders. My analysis can be read through all Admiral Markets website , Facebook page ( AM and my personal) and Spider’s Den thread on Forex Factory I also host WEBINARS supported by Admiral Markets on a weekly basis where traders learn how to be profitable in trading. Trading is also a psychology business so I tend to cover all aspects of trading in webinars, from psychology to money management.

I have my personal account at Admiral Markets where I trade full time. My objective is 5 % gain per month with really a small risk. Sometimes it exceeds 5 % but the point is always to be positive. Stronger trades are taken when I see the opportunity for them. I am not a FOREX guru or whatever you call the guys that dont make mistakes, I also make mistakes but the point is DISCIPLINE and CONTROL your risk. There is no trader who doesnt have losing trades.

I don’t trade every day as I always make judgments when and when not to trade. My favorite pair is EURUSD and I when I trade accounts I always have a bigger consciousness about money so I tend it to keep it safe with nice profits all around.
THE Three MOST IMPORTANT things for me are:
Primary – not to lose a capital and stay on the flow for many years
Second – gradually multiply your equity figures
Third – earn high profits

Problem with many people is that they set the third task for the first place. Success comes down to proper risk-management and it is my holy grail.

I dont use a "system", I use Price Action trading strategy and here is a brief overview of things I use. 30 50 100 SMA. MACD and Fibonacci levels is all i use. I follow patterns such as triangles, wedges, flags, rectangles near the important s/r levels. For divergence I only use MACD. Also I use candlesticks but exclusively on H1+ TFs. I am a trend follower so FIBO retracements are used to get into a trend on a pullback near the historical buyers and sellers. The analysis is made on a blank and free of indicators template so it makes spotting patterns and PA eye friendly.
 

Tarantula

Member
Today on H1 we can spot a consolidation Traingle withing a descending triangle. Also we can spot a potential head and shoulders pattern on H1. Right shoulder points around 2885-90 where it might turn to test 2846. BPC in case 2846 is broken should lead to 2805 and then subsequently to 2780. Im not sure whether we will have 2750 today although it stands as weekly target. Remember weekly TF is not M5 timeframe so the target needs a time to fulfill. Also today is PROFIT TAKING day so pay attention to that also.
You must be registered for see images attach
 

fxlovers

New member
I checked the trading system in FF ..I thought i would find some indicators and weak trading system But I found professional trading system ,he draws the trend and start to share some good rules .It is great for me to trade by low risk you can easily with this system make 5% monthly .If you know about fundamental you can double your balance.
 

Tarantula

Member
Tarantula i am waiting you to compare my trading system with yours
Hi Fxlovers,

I dont have intention to compete with anyone. I want to present my views for trading of the markets and I'll also place myfxbook link when I setup LIVE account for this kind of trading so you could see the account I manage. Kinds regards :)
 

pigpo

Member
Banned Users
Hello traders!

My name is Nenad and I am a full time trader and account manager. I have also been known as Tarantula (T@rantula) on many websites, most prominent being Forex Factory where I run the thread named Spider’s Den. My thread has gained more than 2.130.000 visits and I have opened it less then 2y ago. Its one of the most read threads on FF website.

I have also a , and I have been doing every day analysis for Admiral Markets as outsource where I also write about different strategies for novice traders. My analysis can be read through all Admiral Markets website , Facebook page ( AM and my personal) and Spider’s Den thread on Forex Factory I also host WEBINARS supported by Admiral Markets on a weekly basis where traders learn how to be profitable in trading. Trading is also a psychology business so I tend to cover all aspects of trading in webinars, from psychology to money management.

I have my personal account at Admiral Markets where I trade full time. My objective is 5 % gain per month with really a small risk. Sometimes it exceeds 5 % but the point is always to be positive. Stronger trades are taken when I see the opportunity for them. I am not a FOREX guru or whatever you call the guys that dont make mistakes, I also make mistakes but the point is DISCIPLINE and CONTROL your risk. There is no trader who doesnt have losing trades.

I don’t trade every day as I always make judgments when and when not to trade. My favorite pair is EURUSD and I when I trade accounts I always have a bigger consciousness about money so I tend it to keep it safe with nice profits all around.
THE Three MOST IMPORTANT things for me are:
Primary – not to lose a capital and stay on the flow for many years
Second – gradually multiply your equity figures
Third – earn high profits

Problem with many people is that they set the third task for the first place. Success comes down to proper risk-management and it is my holy grail.
Welcome to WWI nice to know you.... :)
 

peterp

Member
Hi Tarantula

I checked your thread at FF and I will read some more later on, I like your aproach and i see lots of valuable info there at FF, I have a question, why do you aim for 5% and not 20% for example, if you are consistent trader you should be able to make more than 5%/month right? Also is it true that most traders who make money trading forex are trend followers?
Looking forward to learn more from you.
Thx
Peter
 

Tinojazz

Professional Trader Since 2007
VIP Member
Hi Tarantula

I checked your thread at FF and I will read some more later on, I like your aproach and i see lots of valuable info there at FF, I have a question, why do you aim for 5% and not 20% for example, if you are consistent trader you should be able to make more than 5%/month right? Also is it true that most traders who make money trading forex are trend followers?
Looking forward to learn more from you.
Thx
Peter
Dear Peter, profiting in forex is hard as a hell , if you hear or read there is only 5% max profitable traders at all, if you go with plan to make constantly 5% in month that means we risk about 10% DD at all time , and notice that all traders, Fund manager, institutional traders , bank traders have loosing months .
My point is if your system is not working exactly some period 2-3 months if we go with higher risk we can bring our DD to 50-60 % what is amateur and not acceptable for self and for investors.

5 % monthly = 70-80% per year from initial deposit... so you can see how much banks will give you if you keep money there .. 5-7% per year right?

I think you get point.

Best regards
tino
 

Tarantula

Member
Dear Peter, profiting in forex is hard as a hell , if you hear or read there is only 5% max profitable traders at all, if you go with plan to make constantly 5% in month that means we risk about 10% DD at all time , and notice that all traders, Fund manager, institutional traders , bank traders have loosing months .
My point is if your system is not working exactly some period 2-3 months if we go with higher risk we can bring our DD to 50-60 % what is amateur and not acceptable for self and for investors.

5 % monthly = 70-80% per year from initial deposit... so you can see how much banks will give you if you keep money there .. 5-7% per year right?

I think you get point.

Best regards
tino
Thanx Tino, well said. Nothing more to add.
 

Strider

New member
Today on H1 we can spot a consolidation Traingle withing a descending triangle. Also we can spot a potential head and shoulders pattern on H1. Right shoulder points around 2885-90 where it might turn to test 2846. BPC in case 2846 is broken should lead to 2805 and then subsequently to 2780. Im not sure whether we will have 2750 today although it stands as weekly target. Remember weekly TF is not M5 timeframe so the target needs a time to fulfill. Also today is PROFIT TAKING day so pay attention to that also.
You must be registered for see images attach
Thank you for your down to earth views. I am showing my age but I started trading commodities before we had computers.
I would get weekly charts from Dunn & Hargitt and pencil in the daily open and close from the WallStreet Journal. We spent our time watching for H&S tops and bottoms and B & B flags and drawing in S & R lines and triangles.
Whilst computers make the information instant it is still down to the individual looking for these well tried formations.
You expert eye is appreciated
 

Tarantula

Member
2890 is very important level today. Look how many touches it has. We are having a possible formation of a steep bullish wedge and EU is currently close to a vortex of a consolidation triangle. As long as EU is below 2890 2830 and 2800 are testing zones. If EU drops below 2800 target is 2750. If EU breaks 2890 and retests it, we can enter BPC pattern for 2970 and 3030 targets.

You must be registered for see images attach
 

Tarantula

Member
We also need to pay attention to fundamental data releases in order to position our trades. From Wednesday on , we will have stronger volatility and up to Wednesday we will probably have a ranging market.
 

Tarantula

Member
Thank you for your down to earth views. I am showing my age but I started trading commodities before we had computers.
I would get weekly charts from Dunn & Hargitt and pencil in the daily open and close from the WallStreet Journal. We spent our time watching for H&S tops and bottoms and B & B flags and drawing in S & R lines and triangles.
Whilst computers make the information instant it is still down to the individual looking for these well tried formations.
You expert eye is appreciated
Hello Strider and thank you for your comments. Its always good to have an old school trader around. The experience in spotting patterns is directly connected to PA trading so your views are also much appreciated.
 

nutorv

Member
We also need to pay attention to fundamental data releases in order to position our trades. From Wednesday on , we will have stronger volatility and up to Wednesday we will probably have a ranging market.
@tarantula. Thanks a lot for your analyses, price is really ranging just as you said. Looking forward to more of your professional views
 

Tarantula

Member
@tarantula. Thanks a lot for your analyses, price is really ranging just as you said. Looking forward to more of your professional views
You are welcome nutorv, I will be uploading my analysis regularly, and will make occasional follow ups of setups and trades.
 

Tarantula

Member
GBPUSD potential setup.

I have aligned higher TF fib and last swing FIB so 5260 is next strong resistance so it might be good for some scalping action. If this is retracement on Higher TF, and it seems it it, ill be looking for short setups around 5290-5300 level where we have a line up of historical buyers and sellers and 78.6 fib. Once we get there we should zoom into lower TF and search for entries around those levels.
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Tarantula

Member
Tomorrow I will show you some divergence setups. I trade divergence on H1,H4 and Daily TF. I will show how to use divergence to your advantage.
 

Tarantula

Member
GBPUSD potential setup.

I have aligned higher TF fib and last swing FIB so 5260 is next strong resistance so it might be good for some scalping action. If this is retracement on Higher TF, and it seems it it, ill be looking for short setups around 5290-5300 level where we have a line up of historical buyers and sellers and 78.6 fib. Once we get there we should zoom into lower TF and search for entries around those levels.
You must be registered for see images attach
As we just witnessed cable has fallen 80 pip around 5260 level. You need to know that when cable news is expected around 10:30 CET cable will jump in a direction of the news impact then after some time during the session it immediately resume the trend direction. Today it was almost a direct drop.
 

Tarantula

Member
On EU 4H we have had a bearish divergence that tanked the price. Hidden Bearish divergence confirms the downtrend. It is usually found during retracements in a trend and it points to trend continuation. We had a Hidden Bearish divergence @ H4 TF, and when TL around 2880 got broken EURUSD fell for 30 pips testing 2850 zone. Further fall would be confirmed by MACD crossover on next few candles. If MACD stays strong to the upward or it breaks interim resistance of the divergence , that means the divergence has been done and we dont trade it anymore. I usually trade divergence after the break of trendline or MACD cross if it happens after 1-4 candles after I spot it.
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Ishtana

Member
I've just had a chance to read the whole thread today. Interesting analysis Nenad, I'll be following your thread.

Your prediction came true today after the CPI news release for cable.

What do you mean by historical buyer and seller? Is this the same concept as Sam Seiden's Supply and Demand?

I think all of us would also appreciate the entry and exit rules on your system.

Thanks again.
 

Tarantula

Member
Here is the additional EURUSD analysis.

If we get a break below 2850 we wait for BPC and go for 2835 2815 2790. If the pair jumps above 2915 we wait for BPC and aim for 2930 2950 and 2975. EURUSD should be in ranging mode till Wednesday where I expect stronger volatility due to strong economical releases at the end of the week.

What is BPC. Breakout Pullback continuation is the pattern that I use for confirming breakouts. First we get a Breakout then Pullback to retest the level and then Continuation of the price pattern. In this example its the ascending flat top triangle inside which we have a classical consolidation triangle.

You must be registered for see images attach
 

Tarantula

Member
I've just had a chance to read the whole thread today. Interesting analysis Nenad, I'll be following your thread.

Your prediction came true today after the CPI news release for cable.

What do you mean by historical buyer and seller? Is this the same concept as Sam Seiden's Supply and Demand?

I think all of us would also appreciate the entry and exit rules on your system.

Thanks again.
Hello Ishtana. Its very hard to post the rules for entries and exits as I dont trade mechanically. There are a lot factors that I usually take into account when trading so it requires experience. I always watch important levels that I draw manually, then I look for price patterns around those levels. Also mostly I do 2 types of trading breakout and trend trades. Breakout are BPC trades close to important levels or sometimes momentum trades and trend trades are classical retracement trades. Due to a complexity of my trading approach there are no "exact" rules for entries and exits as for me MOMENTUM is the most important thing when determining exit point and/or entry. As for "historical buyers and sellers",I watch higher Tfs and connect horizontal levels of s/r which have been tested many times so far.
 
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