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The daily strategy - the different point of view

  • #81
  • Jul 25, 2017 1:53pm Jul 25, 2017 1:53pm
Quoting Chake
funny, mine sure is @ 16-2 chart zoomed in: {image} I'm from the Netherlands, chart data is from Interactive Brokers.
Also talk to your brokers and check that charts are sync with the NY close. There is a difference in that and the daily tf is important that its set up that way later l post a link that explains the difference.
  • #82
  • Jul 25, 2017 1:55pm Jul 25, 2017 1:55pm
Quoting ewebb205
{quote} Yeah but not that long this year is a month of jun where I really stayed on it or tried to with the exception of some news trades. right now I'm starting a new account so that everything from August on out is strictly from the strategy with no other trades like news or spur of the moments And past years with different brokers But that's why Im so confident because EOD trading is hard because of staying on the sidelines all day and even up to this point I still struggle with discipline and greed from time to time. But maybe this thread will...
Appreciate your honesty, and since you're still learning, good luck going forward. Consistency only starts once you stick to a method you can trust and know inside out, preferably one that you developed yourself. You will get there eventually.
  • #83
  • Jul 25, 2017 2:07pm Jul 25, 2017 2:07pm
Quoting ForexStream
{quote} Appreciate your honesty, and since you're still learning, good luck going forward. Consistency only starts once you stick to a method you can trust and know inside out, preferably one that you developed yourself. You will get there eventually.
Thank you for understanding.
Subscribe to keep in touch.
  • #84
  • Jul 25, 2017 2:09pm Jul 25, 2017 2:09pm
Quoting ewebb205
{quote} Also talk to your brokers and check that charts are sync with the NY close. There is a difference in that and the daily tf is important that its set up that way later l post a link that explains the difference.
Here is the link for the explanation of the NY close chart
For those who don't know what I'm talking about

http://dailypriceaction.com/articles...s-forex-market
  • #85
  • Jul 25, 2017 2:11pm Jul 25, 2017 2:11pm
Subscribed, good luck
  • #86
  • Jul 25, 2017 2:16pm Jul 25, 2017 2:16pm
Quoting Mani82
Subscribed, good luck
Thanks mani82
  • #87
  • Jul 25, 2017 2:18pm Jul 25, 2017 2:18pm
There is more to the strategy but for now I digesting everything from this morning.

Any questions suggestions comments concerns?
  • #88
  • Jul 25, 2017 3:16pm Jul 25, 2017 3:16pm
Quoting ewebb205
{quote} Subscribe to keep in touch.
As I said, I already have my own profitable method, thanks.

And here is what I mean by 'consistency'. Good luck once again.
  • #89
  • Jul 27, 2017 9:22am Jul 27, 2017 9:22am
Hi!

Everything is quiet for now ?
Seems interesting concept.
ewebb205, can you give more charts to have better understanding
what are you looking for in the end of the day.
Thanks for sharing!

SP
  • #90
  • Jul 27, 2017 9:26am Jul 27, 2017 9:26am
This thread isn't over yet. Im considering a revision to prevent drawdowns.
  • #91
  • Jul 27, 2017 9:30am Jul 27, 2017 9:30am
You see guys opening up this discussion has made me realize some potential errors or alternatives to make a strategy better. If anyone have concerns questions suggestions comments. Than please give. Except for veefx.
  • #92
  • Jul 27, 2017 9:46am Jul 27, 2017 9:46am
I'm thinking of waiting more towards the end of the Asian session and then use nothing but stop orders from the daily open with a take profit of 3 pips in the direction that the market hasn't been yet.
  • #93
  • Jul 27, 2017 9:48am Jul 27, 2017 9:48am
Maybe you could start by writing down the full system, then we could really see what to think of it/give sugesstions etc..
Persistence will get it. Consistency will keep it.
  • #94
  • Jul 27, 2017 9:48am Jul 27, 2017 9:48am
My logic still proves that the market will go at least 3 pips in both directions on a daily chart and the history wicks will show this at least 99 percent of the time
  • #95
  • Jul 27, 2017 9:49am Jul 27, 2017 9:49am
Quoting opal727
{quote} As I can see from my charts it is true, at list 99% ....
Also agreed by opal727 on page 2 of the thread
  • #96
  • Jul 27, 2017 9:50am Jul 27, 2017 9:50am
Am I not conducting a thread the right way? This is my first time doing one
  • #97
  • Jul 27, 2017 9:53am Jul 27, 2017 9:53am
With this method there will be more safety from a drawdown and if the prediction is wrong than your stop order should never be triggered either for the three or four times in a year that a candle without wicks would occur
  • #98
  • Jul 27, 2017 9:54am Jul 27, 2017 9:54am
Good to see you back here.
After some visual backtesting I see that
price is going to range in tight channel before closing the NY.
There is point to use stop orders with TP 3 pips on both side of the channel.
Attached Image

It is a UJ 1M chart and red vertical is 30 minutes before NY close.
This pattern is common and worth for further investigation.

SP
  • #99
  • Jul 27, 2017 9:56am Jul 27, 2017 9:56am
Also because of this consideration. The only pairs to use would be eur/us -gbp/usd- us/car. Or anything that would take influence from the Asian basically. So ranging markets is ideal.
  • #100
  • Jul 27, 2017 9:57am Jul 27, 2017 9:57am
The heiken ashi chart will be good for directional biases since it's a "average" chart to figure the up days and down days
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