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Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: Idyllic Trading
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Idyllic Trading

Quoting Larseg
I can see through your writing that you are not profitable and yet you speak as you are.
I have nothing to prove to you or anyone else. If you don't like the system, don't use it. If you don't like what I have to say, don't listen. :-)

Quoting Larseg
You aren't ready to make a living out of this cause you won't listen to others.
You are right on one point - I am done listening to others. I will be doing things my way and WILL NOT be seeking or listening to the advice of others. Been there, done that. If I sink or swim, I will know who is responsible.

Quoting Larseg
Seriously your pockets aren't deep enough? and risk reward of 1:3 as a fixed term, what BS hedge fund manager would tell you that? Full of lies...
I have no reason to lie. You are reading to far into my statements. I did not provide a dissertation on my conversations with my friend and no he never told me to have a fixed 1:3 RR - again, that is my doing as I have decided to make my own path. If you don't like it, don't follow it - do your own thing and it's no skin off of my back!

Quoting Larseg
If you can't listen to others and are stubborn this will take you a long time to fix.
I still wish you Good Luck and you will need it, luck.
See above about listening to every Tom. Dick and Harry. I would only wish luck on an enemy... I see where you stand.
enochben

That's the problem sometimes with forums, this poster who obviously knows little about you, has posted kaka that he would never say to your face, so don't let it bother you in the tiniest bit, a chicken bleep post by a chicken bleep poster!

Now if this chicken bleep responds to this saying he would say this to your face, knowing as little about you as he does, who is the liar?

cheers
Quoting goldsurfer
enochben

That's the problem sometimes with forums, this poster who obviously knows little about you, has posted kaka that he would never say to your face, so don't let it bother you in the tiniest bit, a chicken bleep post by a chicken bleep poster!

Now if this chicken bleep responds to this saying he would say this to your face, knowing as little about you as he does, who is the liar?

cheers
Quoting enochben
Me thinks taking profits is personal. If you are a scalper take your 10 pips and get out, if you're a swing trader wait until you get a price extreme in the opposite direction.

Personally, I set my initial SL at 13 pips and once the market starts moving in my direction, I will use the adaptive MA to trail my stop. I usually add a little space to the AMA to get something like this.

SL = AMA + 1 + spread

Another thing about SL - don't fret small losses or break-even trades - they won't hurt you. The AMA should make it easy to limit your losses....

When iam "bored" i trade something very similar and i dont like to listen to others when it comes to trading guru blabla too , but what works very well for me ist that i close half of postion fixed at 10points , move the other half to break even and look for continuation pullbacks from the HAMA lline in trend direction.

Its very profitable that way so far, i just lack of time to do that regulary
Quoting enochben
I have nothing to prove to you or anyone else. If you don't like the system, don't use it. If you don't like what I have to say, don't listen. :-)



You are right on one point - I am done listening to others. I will be doing things my way and WILL NOT be seeking or listening to the advice of others. Been there, done that. If I sink or swim, I will know who is responsible.



I have no reason to lie. You are reading to far into my statements. I did not provide a dissertation on my conversations with my friend and no he never told me to have...
I can`t comment on the comments of others - I can only say that I wish you every success possible, and your honest self-assessing posts deserve highest praise.

In order to assess the profitability of 5min eurusd methods, it might be a possibility to make a list of them and sort out the proīs and cons of each of them.

- Phillip Nelīs 5min intraday
- Jankone`s 5min thread
- Niceguyīs 7 pips ridiculous system
- PASS with smoothed Heikin Ashi and Fractals
- Paulus `How to trade the 1-2-3 effectively
- Febīs system II ( with irony )

BTW : do you still use your 3min Sierra template ? I found it quite profitable, but I like the stress-less higher timeframes usually more.

My best wishes to you !


Michael
Be like water.
Quoting msmarple

BTW : do you still use your 3min Sierra template ? I found it quite profitable, but I like the stress-less higher timeframes usually more.

Michael
thanks for the kind words. pm me and i'll dig up the sierra template.
Here is an example of a trade from earlier today using the 1-2-3 pattern as an extra filter before going short.
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I am posting an example of a 1-2-3 reversal of EURGBP during the Asian session. You can clearly see an lower low was made followed by a lower high and then a higher low. The failure to make a lower low in a downtrend usually signifies a reversal is in the works.

(AS I TYPE THE BOTTOM FALLS OUT)

This is an example of how waiting for confirmation saves us from a losing trade. The AMA was flat at the time of the reversal breakout (no dots painting) and the NoLag slope was still pointing down and red.

Even though it looked like a "price action" reversal was setting up perfectly our indicators said otherwise.
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Another price action trade that the indicators say - wait a minute....

USDJPY
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short setting up in euro - just under pivot
called it live - +13 on 2/3'rds and trailing 1/3
during the asian session there was a lot of consolidation around the pivot before a nice sell-off. notice similar consolidation during NY session around the same levels.... pretty interesting....
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47 was yesterdays low's so probablly a lot of stops around 45-50. I predict that a break of 45 will take us down to at least 20....

disclaimer - i am not jumping in - just watching my open trade from 77
out with +15 on final third as per the rules outlined in the first post
Europe is closing up shop so things should get slow, however, I will be looking for 1 more trade if a higher low is put in...
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Quoting enochben
47 was yesterdays low's so probablly a lot of stops around 45-50. I predict that a break of 45 will take us down to at least 20....
77
missed it - i saw no disciplined way to get back in so this train left without me on board. done for the day.
In the initial post I stated that pivot points were used but I never explained how.

I use pivot points simply to determine a bias for entering trades. If price is below the pivot I am biased towards short trades. Conversely if price is above the pivot I prefer long trades.

The only time this bias is challenged is when I see a strong 1-2-3 reversal near a pivot point (S1/S2/S3/R1/R2/R3) in which case a confirmation signals an end of trend/counter trend trade is in play.

I hope this helps somebody
Quoting enochben
In the initial post I stated that pivot points were used but I never explained how.

I use pivot points simply to determine a bias for entering trades. If price is below the pivot I am biased towards short trades. Conversely if price is above the pivot I prefer long trades.

The only time this bias is challenged is when I see a strong 1-2-3 reversal near a pivot point (S1/S2/S3/R1/R2/R3) in which case a confirmation signals an end of trend/counter trend trade is in play.

I hope this helps somebody
I think what you said about the pivot is very true. While using any strategy if this information is used, it will help a lot in the final result.
Thank you,
No trades today
Could Idyllic be a synonym for boring?

I have to admit this is not a sexy system. I also have to admit that when I was bored with trading it was when I was at my best.

Hmmmmm.... trading is not sexy and exciting... now that is something to think about.

Just keep laying bricks.
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