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Trading is as simple as 1-2-3

  • #4,321
  • Aug 4, 2017 1:58pm Aug 4, 2017 1:58pm
A cross-post, I know but thought I'd share a little bit of something.

Been tracking the 1-2-3 trade set-ups that always form in the hour or two that follow the trade set-up I run every morning on The DAX. Oh boy...

Here's how today's went ...

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  • #4,322
  • Aug 5, 2017 6:58am Aug 5, 2017 6:58am
Quoting lemercenaire
I was out pretty much all day today - please tell me someone got this!!!
Snared +7 of that 100 drop ... the NFP spread would probably have triggered my stop even if it was at B/E, to be fair

A few recent winners which I regret closing early ... may leave my stop at B/E+2 and attempt to catch some bigger moves this week ... target areas of possible heavy demand / daily open / previous opposite swing
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  • #4,323
  • Aug 5, 2017 1:57pm Aug 5, 2017 1:57pm
Quoting Lifecycle
{quote} Snared +7 of that 100 drop ... the NFP spread would probably have triggered my stop even if it was at B/E, to be fair A few recent winners which I regret closing early ... may leave my stop at B/E+2 and attempt to catch some bigger moves this week ... target areas of possible heavy demand / daily open / previous opposite swing {image}
Better than a kick in the teethe, though.

I agree re the increased spread - I would have looked to add to the position / re-enter on the touch of the Supply Zone on my chart. Not 1-2-3 rule but just my style of trade management.
  • #4,324
  • Aug 7, 2017 2:39am Aug 7, 2017 2:39am
Happy Monday all ... hope you don't mind me crashing your thread

Watching USDCHF and NZDUSD this am (giving cable a wide berth)
  • #4,325
  • Aug 7, 2017 2:46am Aug 7, 2017 2:46am
Quoting Lifecycle
Happy Monday all ... hope you don't mind me crashing your thread Watching USDCHF and NZDUSD this am (giving cable a wide berth)
Hi Lifecycle. I'll give you my standard warning here, lol - be careful of anything containing the CHF, as the SNB will mess with your head at any given opportunity.

Anyway, break a leg on those.

I'm waiting on my morning DAX...

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  • #4,326
  • Aug 7, 2017 3:04am Aug 7, 2017 3:04am
Quoting lemercenaire
{quote} Hi Lifecycle. I'll give you my standard warning here, lol - be careful of anything containing the CHF, as the SNB will mess with your head at any given opportunity. Anyway, break a leg on those. I'm waiting on my morning DAX... {image}
Took a Hal-Special entry...

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  • #4,327
  • Aug 7, 2017 3:14am Aug 7, 2017 3:14am
Quoting lemercenaire
{quote} Took a Hal-Special entry... {image}
Added in the second ''standard'' entry...

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  • #4,328
  • Aug 7, 2017 3:39am Aug 7, 2017 3:39am
Ha-ha be careful with those Lem. I'm short the EU right now hoping it becomes special.
  • #4,329
  • Aug 7, 2017 3:44am Aug 7, 2017 3:44am
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And it did, short EU +5 locked, despite late entry, cha-ching.
  • #4,330
  • Aug 7, 2017 3:55am Aug 7, 2017 3:55am
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Earlier in the thread there was a discussion about the big move off of NFP Friday. I was short this AU and could not stick around for the news release. I took a modest profit. Had I stayed in it would have moved down about +80. However I have been moving my stops to BE as soon as I get to the +5 and partial profit. And in this case would have been stopped out before that 80 pip run. Of course I might also have been stopped on spread widening during the release.

In the past I was leaving my stops in place which is 3 pips above the high in place and in this instance would have caught that move. There are advantages to both approaches in stop management, it goes to personal preference and risk tolerance.
  • #4,331
  • Aug 7, 2017 7:22am Aug 7, 2017 7:22am
My DAX is still doin' just fine...

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Add a double-fib and you can see where we are now...

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  • #4,332
  • Aug 7, 2017 7:49am Aug 7, 2017 7:49am
Took a hit on the NZD first thing but made it up with some tiddlers ... those 2-pippers certainly do add up

EURGBP tickling last week's high
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  • #4,333
  • Aug 7, 2017 9:08am Aug 7, 2017 9:08am
Quoting Lifecycle
Took a hit on the NZD first thing but made it up with some tiddlers ... those 2-pippers certainly do add up EURGBP tickling last week's high {image}
Which NZD pair? NZDUSD?
  • #4,334
  • Edited 12:42pm Aug 7, 2017 10:02am | Edited 12:42pm
Quoting lemercenaire
{quote} Which NZD pair? NZDUSD?
Yep NZDUSD (excuse weird screenshots but can't load my broker at work) ... my two this morning on the M5:
1st stopped out fast; was downward break beyond last weekly low so perhaps should be more cautious
2nd closed +5 (and had a similar on AUDUSD)

Any thoughts from you / Hal / TS definitely welcome
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  • #4,335
  • Aug 7, 2017 10:40am Aug 7, 2017 10:40am
Quoting Lifecycle
{quote} Yep NZDUSD (excuse weird screenshots but can't load my broker at work) ... my two this morning on the M5: 1st stopped out fast; was downward break beyond previous weekly low which so perhaps should be more cautious 2nd closed +5 (and had a similar on AUDUSD) Any thoughts from you / Hal / TS definitely welcome {image}
For me, I am always a little cautious of Southern hemisphere pairings on Mondays, with the time-zone differences coming into play before the UK and US can get involved fully. If something has gone on late Friday or over the weekend, then Monday am is when it's going to be corrected at UK open and then re-corrected at US one.

Having said that, this very thing seems to work in favour of good trades involving the JPY pairs. Go figure.
  • #4,336
  • Aug 7, 2017 11:30am Aug 7, 2017 11:30am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,337
  • Aug 7, 2017 11:37am Aug 7, 2017 11:37am
Good Bad Days

Mastering the Art of Playing Badly Well

Jack Nicklaus once said that the real key to being a great golfer was “playing badly well.”

It’s one thing to play well when everything’s rolling.

It’s an entirely different thing to be able to play well when things aren’t rolling smoothly.

Jim Afremow, one of the world’s leading mental toughness coaches and author of The Champion’s Mind calls it being “ugly but effective” and having “good bad days.”

We need to master the art of having good bad days.

The trick?

Well, first, expect to have some rough days and to do silly things on occasion.

I forget what golfer said it but they expected to have x bad shots in any given round so when they had the inevitable bad shot they didn’t lose it. They just said, “Yep. There’s one!” And then they moved on.

We need to do the same thing.

Expect mistakes. Rough patches when we’re not as connected as we’d like. That’s the first step. Then we don’t fall into a destructive cycle of wondering what’s wrong with us. We just acknowledge we’re not at our best and take the next baby step. (No big deal.)

What we DON’T want to do are all the stupid things we tend to do when we’re stressed.

You know what I’m talking about.

I call those habits “kryptonite.” The stuff that, for whatever reason, we tend to gravitate toward when we can least afford to be seduced by them.

What are they for you?

They’re different for each of us. You know those sirens who tempted Odysseus and his sailors—making them crash into the rocks? Did you know that they sang a different song for each of the different sailors? Yep.

What’s your song—the one that leads you on a path that results in you crashing into rocks and turning what could have been a good bad day into a really bad day?

Expect the challenges. Know your bad habits. Steer clear of the rocks.

- Brian Johnson
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,338
  • Aug 7, 2017 12:56pm Aug 7, 2017 12:56pm
Quoting TooSlow
Good Bad Days Mastering the Art of Playing Badly Well Jack Nicklaus once said that the real key to being a great golfer was playing badly well. Its one thing to play well when everythings rolling. Its an entirely different thing to be able to play well when things arent rolling smoothly. Jim Afremow, one of the worlds leading mental toughness coaches and author of The Champions Mind calls it being ugly but effective and having good bad days. We need to master the art of having good bad days. The trick? Well, first, expect to have some rough days...
The late, great, Al Davis summed it up:

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  • #4,339
  • Aug 7, 2017 4:22pm Aug 7, 2017 4:22pm
That DAX is tramlining between a couple of fib-lines now and no doubt overnight. Tight stop and see what happens tomorrow. It's all good.

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  • #4,340
  • Aug 8, 2017 3:04am Aug 8, 2017 3:04am
Two choices from The Wild Bunch this morning...

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