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LAST (Long term Analysis - Short term Trading)

  • #61
  • Jun 26, 2017 7:34am Jun 26, 2017 7:34am
U/J broke first potential entry point. Wait.
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No guts, no glory
  • #62
  • Jun 26, 2017 7:38am Jun 26, 2017 7:38am
U/J entry after HV, close above previous DO, and above current DO.
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No guts, no glory
  • #63
  • Edited 8:27am Jun 26, 2017 7:39am | Edited 8:27am
Quoting abokwaik
U/J broke first potential entry point. Wait. {image}
Khalil, the daily line open can be used as part of trading breakout, which is how i have been looking on it, if you add support and resistance through the fractals or barry support and resistance then you can use market orders, limits at the previous highs and lows against the open direction of price and pending stops in favour of the direction of the open. I will try to add a picture, but i know you can visualize this.

If you can create something like this, it would help. Also a MTF one. WEEKLY and MONTHLY would be good.
Attached File(s)
File Type: ex4 Daily-Open-Levels-Historical-indicator.ex4   44 KB | 469 downloads
R:R "Percentage Focus"
  • #64
  • Jun 26, 2017 10:24am Jun 26, 2017 10:24am
Very much my trading style in the last few years.
Today with a new demo account, I have managed to get 9.4%, trading GJ,EU,GN,UJ and GU.

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  • #65
  • Jun 26, 2017 10:47am Jun 26, 2017 10:47am
Quoting arbinka
Very much my trading style in the last few years. Today with a new demo account, I have managed to get 9.4%, trading GJ,EU,GN,UJ and GU. {image} {image} {image} {image} {image} {image}
but it is martin!
If you know neither the enemy nor yourself, you will fail in every battle!!
  • #66
  • Jun 26, 2017 11:26am Jun 26, 2017 11:26am
Monday's Summary :

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No guts, no glory
  • #67
  • Jun 26, 2017 11:31am Jun 26, 2017 11:31am
My U/J trades for today :

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No guts, no glory
  • #68
  • Jun 26, 2017 11:38am Jun 26, 2017 11:38am
X/U tardes:

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No guts, no glory
  • #69
  • Jun 26, 2017 11:45am Jun 26, 2017 11:45am
I am re-attaching the trade explorer. It's a small account anyway, just to show how you can grow a small account with a reasonable draw down.
No guts, no glory
  • #70
  • Jun 26, 2017 1:01pm Jun 26, 2017 1:01pm
Quoting abokwaik
I am re-attaching the trade explorer. It's a small account anyway, just to show how you can grow a small account with a reasonable draw down.
I like that Idea...Going to be in this thread very often lol, i wanted to start a scalping thread but why not just build on this one.
R:R "Percentage Focus"
  • #71
  • Jun 26, 2017 1:07pm Jun 26, 2017 1:07pm
Quoting abokwaik
Long term Analysis - Short term Trading L A S T Trading System Unlike my other auto trading threads, this one is going to be manual. Our trading day will start 1 hour before London open, where we scan selected pairs/instruments and set our initial bias for the day. Long Bias: Most of previous PA is above DO (Daily Open), and Current PA is above DO. Short Bias: Most of previous PA is below DO (Daily Open), and Current PA is below DO. ... PS: We'll take this step by step due to time limitations.
Very good, concept and i hope my efforts and inputs will payoff. Lets make some good trades.
R:R "Percentage Focus"
  • #72
  • Jun 26, 2017 1:28pm Jun 26, 2017 1:28pm
Quoting abokwaik
Long term Analysis - Short term Trading L A S T Trading System Unlike my other auto trading threads, this one is going to be manual. Our trading day will start 1 hour before London open, where we scan selected pairs/instruments and set our initial bias for the day. Long Bias: Most of previous PA is above DO (Daily Open), and Current PA is above DO. Short Bias: Most of previous PA is below DO (Daily Open), and Current PA is below DO. ... PS: We'll take this step by step due to time limitations.
Which previous PA ? is its yestarday PA or before London session PA?
  • #73
  • Jun 26, 2017 1:28pm Jun 26, 2017 1:28pm
Quoting PrinceJ58
{quote} I like that Idea...Going to be in this thread very often lol, i wanted to start a scalping thread but why not just build on this one.
You are most welcome buddy.

I like other members to grasp the general concept and post their live trades if possible. I suggest to trade with lowest leverage, and increase as you master it.
No guts, no glory
  • #74
  • Jun 26, 2017 2:41pm Jun 26, 2017 2:41pm
Quoting abokwaik
{quote} You are most welcome buddy. I like other members to grasp the general concept and post their live trades if possible. I suggest to trade with lowest leverage, and increase as you master it.
Low leverage like under 50 or like 100? What's your recommendation, the account your trading is growing rapidly and that's 5-10% everyday which means in 10 days you probably double your account each time. That's quite interesting.

I know low leverage should protect your account, exposure and limit the number of trades. Oh Lord I won't say what mine is right now, mercy.
R:R "Percentage Focus"
  • #75
  • Jun 26, 2017 3:47pm Jun 26, 2017 3:47pm
Okay i think this might help someone...You can always change the balance i just put the basic.
If you are able to upgrade it to make it look better do so and share.


I WILL DO MY BEST TO SEND AN UPDATE.
Give to receive.
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Attached File(s)
File Type: xlsx LAST 5-10% Worksheet.xlsx   187 KB | 398 downloads
R:R "Percentage Focus"
  • #76
  • Jun 26, 2017 4:51pm Jun 26, 2017 4:51pm
Quoting noorani
{quote} Which previous PA ? is its yestarday PA or before London session PA?
Before London session if you are trading London session.
No guts, no glory
  • #77
  • Jun 26, 2017 4:56pm Jun 26, 2017 4:56pm
Quoting PrinceJ58
{quote} Low leverage like under 50 or like 100? What's your recommendation, the account your trading is growing rapidly and that's 5-10% everyday which means in 10 days you probably double your account each time. That's quite interesting. I know low leverage should protect your account, exposure and limit the number of trades. Oh Lord I won't say what mine is right now, mercy.
You don't have to change the account leverage back and forth. You control the leverage with position sizing.

For this small acc in TE , 0.01 or 0.02 lots are considered low leverage, while 0.10 is considered a high leverage.
No guts, no glory
  • #78
  • Jun 26, 2017 4:59pm Jun 26, 2017 4:59pm
Quoting PrinceJ58
Okay i think this might help someone...You can always change the balance i just put the basic. If you are able to upgrade it to make it look better do so and share. I WILL DO MY BEST TO SEND AN UPDATE. Give to receive. {image} {file}
Not all days are alike, some days you can easily reach 10%, some days you'll find it hard to reach 1%, and you will certainly have few losing days.
No guts, no glory
  • #79
  • Jun 26, 2017 5:45pm Jun 26, 2017 5:45pm
So you said the trading day will start 1 hour before London open, where we scan selected pairs/instruments and set our initial bias for the day.
Does the pairs ADR/ATR affect if we trade any particular pair?

Long Bias: Most of previous PA is above DO (Daily Open), and Current PA is above DO.
Short Bias: Most of previous PA is below DO (Daily Open), and Current PA is below DO.
I found that trades that met the above criteria were actually super awesome once implemented correctly into the trading system. Most of my successful breakouts actually follow this same rule.

 

  1. Define bias on daily basis- A new trader could have success with this system.
  2. Consider pair as well as underlying currencies
  3. Long above daily open, Short below daily open
  4. Buy pullbacks, Sell rallies-These are overall retracements-Heiken Ashi or HA smoothed could be used here on a 123 basis, reversal candlesticks(Or you keeping it simple-KISS)
  5. Quick in - Quick Out, for repetitive small gains- Is there a tool that you use for sending trades with exact Take Profits; a script to send the trades; Depth of market or something else.
  6. Suggested daily target 5% to 10%-I tried building a simple spreadsheet-So this will be calculated before hand to limit greed. This MM is a good principle when i sat down and really studied the effect of 5-10% per trade/session.

Preferred Instruments :

  1. EURUSD
  2. XAUUSD (Gold)-High Volume & quick profits
  3. USDJPY-Usually opposite to Gold
  4. GBPUSD
  5. Other with caution-GbpJpy


Preferred Sessions:

  1. London Open to London Close-Automation or curving the system in a way for pending orders would work best for my timezone=sleep time.
  2. I will have to work on this, it is a very flexible approach-the you element.



Trading Software:

  1. MT4 (for now)-Which other system-Ctrader?

R:R "Percentage Focus"
  • #80
  • Jun 26, 2017 6:18pm Jun 26, 2017 6:18pm
A.K. I want you to look on this image and check if i am looking at it correctly...
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