DislikedHey MM Boy you been putting on a trading clinic during the Asian session. I did have a question about how you determine the Q values you use. Is it strictly a gut feeling thing based on the price range before the Tokyo session starts or do you actually measure the range pre-Tokyo and say if the range is 25 pips choose a Q value based on the actual pip range? So far I've been just eyeballing it and choosing a Q number of 125 or lower for the Tokyo session on all pairs I trade.Ignored
Many times the Q values are different however when applying them to the charts say for example yesterdays' Q value = 100 and today you calculate it as 90, there may not be a lot of difference when viewing the entry signal boxes on the chart and in this case I will leave the Q value as what it was yesterday ie Q = 100.
If my plan for a trading day is to generate more trades initially then I will lower the Q value significantly.
For a given initial range I like to have boxes generated near the range boundaries but I know when Tokyo fires up these range boundaries are going to increase so the Q value could be chosen to fit within historical Start_of_Day -2 hours to Tokyo_Open + 2 hours or whatever criteria you set based on chart analysis of the pair you prefer to trade!
The idea behind determining maximum and average trading ranges for a given trading window is so that an expectation of price movement can give you a global setting for a hard SL for your cycle of trades.
This strategy will continue to be fine tuned until a general method can be consistently applied.
Although I like what I see so far!
Note: I have only just started to get into trading 2 or more pairs at the same time with the Q Method and this opens up a whole different playing field.
Masterrmind........... :nerd:
Master your Mind then Master your Trades