My M15 Range / Trend trading / others progress

Starting to get the feeling I might be better off without the Mid 100 and 400sma's, the 25 directional channel is quite visible and more immediate.

And the 100 range, is better off as a 50 range to.


Less laggy on direction!!


Work


Huge CASH FLOW ISSUES!!!

Todays setups, I got to watch most of them live, but couldn't risk infront of client / had the balls to take you choose.

Loads of very good little scalp setups, but they all look like they'll fail so I don't play them then they pretty much all work out nicely, 1 went 30pips.

It's just to thin and to different for me to trade live / trust I watch it's near, I'm tempted, it's to late.


Damn it works great, so got to kick my own butt and start using the method I guess!!

I'm actually going to clear EJ for use with this method, only if DAX is dead but even with the bigger spread it appears to have enough noise to make it scalpable this way.


Work tomorrow good and bad I guess no time for trading well maybe back 4ish ??



Live observations so far :-

The Ranges get you relatively safe entrys all of the time, given a 12-15 SL and a 2nd position, even when trading stupid odds are you'll get away with it most of the time, this is a requirement big time

It works best, when there is some good direction say down, then it'll chop into the upper range, stall and head lower, really helps spot the stall area, normally I'd be worried that'll trick me and continue higher, despite knowing the odds of this are low. Run a tigher SL above the 13's range ( double the lots baby )

My concern is my range trade, will be in direction and keep going, today we only had 1 such event, the first 7050 break down to be fair I was in shorts only mode there and 400sma kicking it down all am.

Today looked better on EJ less random, but EJ had a direction today

Typical first trade i take fails lol

Yep typical first break down in days and SL hit first time....

the 400sma broke so that sucker works well.


But on the plus side I took my loss, didn't even think about moving the SL or getting back in which would of ended badly, progress maybe.


Bad time to enter trade 9am aswell, news out I guess, yes EU news at 9am doh!!

Just took a plus 40 more than makes up for earlier hey.


Looking GOOD

Lack of time / bad cold this week but up more than usual with only 2 trades in I think it was.


Mastering the new method live, learning to accept losses rather than getting emotional and turning a small loss into an account killer.


Boring weekend to come, must stay off the charts get a break don't reinvent anything lol


Master the method!

Damn weekends are so damn boring!

Only a minor revision, removed the 2nd Envelope the Blue 25sma 1, wasn't really using it just adds to the clutter, think slightly opened the 13sma and closed the 50sma envelopes.



Bored Bored Bored!!!

Should get a full ish week for trading fingers crossed, but we shall see.


Last few days haven't been great, fast short term moves then reverses always tricky.


Need to move away from fixed SL, although I like the idea it's to wasteful.


So.........

1. Ask myself Trend or Chop
2. if Trend Only take trades with the trend, Exit where the SL is invalid
2.1 if trend turns to chop exit accordingly per chop rules.
3. If Chop, play the range.
3.1 if chop turns to trend on my side hold on tight, if against exit ASAP!!

Got a week to master this live and hopefully show some profits, the ranges are definately useful info and provide a huge edge, the trend parts likewise, both together look great, is it enough to pull off live ?? find out soon!!

The market definitely knows when I'm watching the bar steward.


Or I'm watching at the wrong times

Still not seeing the setups live, okay it's SLOW as today since I've been up, but yeah this is worrying.


1 week to get it on the way, or mission abort and think of a new cunning plan.

Total lack of noise to trade, just a plain up day with no entrys on DAX, a few on EJ but that's still experimental!!

Should took the long off the 7050 level.



mondays!! looking like a no trade day

Not 1 pull back, to a lower envelope entry all day, uptrend so can only do longs and didn't get a entry, arrrgggghhhh!!!


Does not bode well for currently End of Jan ZERO cash, kinda ignoring December here.

Okay so my main interest is predicting a bottom area and just risking it based on the stat's, but I'm putting the middle point 13sma price cross back in on slow moving markets like today, annoying old method would of worked well today, new method nothing called, go figure.


SL at new low whilst doing this and no moving it!!

Oil is where the action went today, method worked well, uptrend and nice pull back enterys called, shame on the 5 pip spread, I hate starting off 5pips in the red.

So from 1:30pm GMT US pre open it might be worth watching USOil as very good day today, DAX setup works well with it.

If Isreal still gearing up for a ground battle then expect Oil to keep going higher.

okay failed to wake up, big time today felt rough so it's allowed, but zero trades in this week arrggghhh!!


So what is going wrong :-


F all confidence Live in the inner range working, more often than not it trends and moves the envelope down with it, although it has some edge to it it's not enough to trade off blindly live, yes in a fast up ward trend it's a good entry zone before it bushes higher, pull back in a uptrend defined score 1 for me. I suspect that was always the plan, I just got myself confused.

Now outter range based on 37sma 0.3% that is where the money is being made, as it's sideways chop which is pretending to be trend on the DAX currently.

So allowed and tested setups to focus on :-


1. Near the outter range and inner range, play for chop, 12 - 15sma ( 20 for oil )
2. Market with direction, get in low of the zone with the direction, don't trade against so no #1 with direction. 8 - 12 SL
3. Price crosses the 13sma open in a swoopy market, SL at new lows no moving the sucker always ends BADLY!!

Comparing this week to last week, there just isn't enough noise on the DAX, likely just Oil getting all of the attention and be back to normal ish soon ish.

Oil isn't trending well currently, but is Isreal isn't sorted ( not checked news ) then should be in for a up day over the US session again, watching.

Starting to see the scalps and get my head around the speed of them, finally.


It's going to work!!!