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High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

  • #1,841
  • Jul 28, 2017 2:27am Jul 28, 2017 2:27am
USD/CAD, M30TF Insight:

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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,842
  • Jul 28, 2017 2:29am Jul 28, 2017 2:29am
USD/CHF, M30TF Insight:

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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,843
  • Jul 31, 2017 8:25pm Jul 31, 2017 8:25pm
Current Market Condition/Sentiment (CsDash Update )

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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,844
  • Jul 31, 2017 10:11pm Jul 31, 2017 10:11pm
Quoting OctaveJay509
USD/CHF, M30TF Insight: {image}
Hi, first time post here...what is the red and blue MA on the chart. I have gone through the thread but could not find where to download the indicator. I am studying the thread and looks good. Thanks
  • #1,845
  • Aug 2, 2017 7:31pm Aug 2, 2017 7:31pm
Quoting Jalby
{quote} Hi, first time post here...what is the red and blue MA on the chart. I have gone through the thread but could not find where to download the indicator. I am studying the thread and looks good. Thanks
Sorry for taking so long Jalby.

I haven't been able to trade the market for the past few days....

The red and Blue MA is called "Evolution Slope" and it has the same functionality as the MegaTrend Line Indicator.

Here's the Location of that Indicator and some other details:

https://www.forexfactory.com/showthr...20#post9360920

By the way, Thanks for showing some interest and do your best to study everything you can because this thread is all
about simplifying this trading game and make it easy for everyone.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,846
  • Aug 2, 2017 7:40pm Aug 2, 2017 7:40pm
Quoting OctaveJay509
{quote} Sorry for taking so long Jalby. I haven't been able to trade the market for the past few days.... The red and Blue MA is called "Evolution Slope" and it has the same functionality as the MegaTrend Line Indicator. Here's the Location of that Indicator and some other details: https://www.forexfactory.com/showthr...20#post9360920 By the way, Thanks for showing some interest and do your best to study everything you can because this thread is all about simplifying this trading game and make it easy for everyone.
thank you...Yes I will try it out and see how we go. Cheers
  • #1,847
  • Aug 2, 2017 8:05pm Aug 2, 2017 8:05pm
Quoting OctaveJay509
{quote} Sorry for taking so long Jalby. I haven't been able to trade the market for the past few days.... The red and Blue MA is called "Evolution Slope" and it has the same functionality as the MegaTrend Line Indicator. Here's the Location of that Indicator and some other details: https://www.forexfactory.com/showthr...20#post9360920 By the way, Thanks for showing some interest and do your best to study everything you can because this thread is all about simplifying this trading game and make it easy for everyone.
Hi OctaveJay, what setting are you using on the Evolution Slope indi please. I can't seem to match mine up with the one on your chart above. Thank you
  • #1,848
  • Aug 2, 2017 8:26pm Aug 2, 2017 8:26pm
Quoting Jalby
{quote} Hi OctaveJay, what setting are you using on the Evolution Slope indi please. I can't seem to match mine up with the one on your chart above. Thank you
55 is the Number, but you can test anywhere from 30 through 70

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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,849
  • Aug 2, 2017 8:36pm Aug 2, 2017 8:36pm
Quoting OctaveJay509
{quote} 55 is the Number, but you can test anywhere from 30 through 70 {image} {image}
Thank you very much...
  • #1,850
  • Aug 2, 2017 8:40pm Aug 2, 2017 8:40pm
Current Market Condition/Sentiment:

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Note: Aussie Data (Trade Balance) came out negative tonight, but there's not enough momentum yet to
see massive movement to the downside.....Aussie economy has been improved, and we saw three straight
weeks movement to the Upside. Nevertheless, I have been seeing a lot of Bearish Divergences on them pairs
on H4TF....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,851
  • Aug 2, 2017 8:48pm Aug 2, 2017 8:48pm
Quoting Jalby
{quote} Thank you very much...
You are welcome!

Please, use a Demo Account first because there are so many layers to this System, but the key to your
success is based on the Trade Logic Approach ( Page 1), and everything else is add-on information.

Good Luck and keep us updated whenever you feel like it. LOL
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,852
  • Aug 7, 2017 4:07pm Aug 7, 2017 4:07pm
Hey OctaveJay. Hope all is well with your trading. I got a update on my trading. About a month and half ago I opened an account with 100 us dollars trading micro lots. Im down to ~30 dollar equity. Seems I'm not much of a trader. Something I've learned through all this is my biggest gainers was when I buy and hold. Less stress once the pips start pooring in. Stop loss at break even and let it ride. Longer term or position trading seems work best for me. At any rate maybe this will help ya, then again maybe not. Just my 2 cent update. I've really gotten used to dealing with money also. I hope your managing those account with the prop firm that would be really cool. Laters man and best of fortune to your trading. Later,
Jon
  • #1,853
  • Aug 7, 2017 9:05pm Aug 7, 2017 9:05pm
Quoting thjw
Hey OctaveJay. Hope all is well with your trading. I got a update on my trading. About a month and half ago I opened an account with 100 us dollars trading micro lots. Im down to ~30 dollar equity. Seems I'm not much of a trader. Something I've learned through all this is my biggest gainers was when I buy and hold. Less stress once the pips start pooring in. Stop loss at break even and let it ride. Longer term or position trading seems work best for me. At any rate maybe this will help ya, then again maybe not. Just my 2 cent update. I've really...

Hi Jon!

It's been awhile my friend and I am glad that you are still around. I thought for a moment that you gave
up on trading this market...Anyway, trading during the summer is not that exciting and I had to slow things
down a little bit...

My State(Missouri) blocked me from Trading with Tradersway and I had to get that money
back in Bitcoin (Lol). I never paid attention about that CryptoCurrency until now. I am doing some research on it
while my mother is in town and I can barely keep up with the Currency Market. Because of that, I haven't been
active lately, but I am still watching the market here and there....Trading is okay but not so well...

By the way, If Longer Term or Position Trading work best for you, you should definitely embrace it. I have been saying
this for quite some time now. Once you identify a Turning point on the H4TF, that Trend is going to last between 2 to 3
weeks or even months. You just have to keep studying the Market until you find the right setup....

Lastly, we had some issues at the Prop Firm not too long ago, I might get back with the team at the end of the year.

Never give up Jon, your admiration for trading is second to none, and the goal isn't to be a Great Trader but rather to be
a great Risk Manager.

Later
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,854
  • Aug 7, 2017 9:23pm Aug 7, 2017 9:23pm
Quick Update on the Economic Calendar this Week ( Forgot to post Earlier)

Inserted Video
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,855
  • Aug 8, 2017 9:33am Aug 8, 2017 9:33am
Hello OctaveJay ! I am new here, today I download and upload indies/tpl to my chart. I want to show you my screens. It's really so simple???

I don't have forexprofitmeter ,because it's don't works on my mt4 and I must work about. For now I have another strentgh meter.

Please look on my charts and I have some questions.

1. Did you entry when stoch is above 88.6 and below 23.6 ?
2. Did you only work with first 1h30min for the session ?
3. When you see red news in this 1h30min did you entry?

Thank you for everything !!!
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"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #1,856
  • Aug 8, 2017 9:25pm Aug 8, 2017 9:25pm
Quoting NPTrader
Hello OctaveJay ! I am new here, today I download and upload indies/tpl to my chart. I want to show you my screens. It's really so simple??? I don't have forexprofitmeter ,because it's don't works on my mt4 and I must work about. For now I have another strentgh meter. Please look on my charts and I have some questions. 1. Did you entry when stoch is above 88.6 and below 23.6 ? 2. Did you only work with first 1h30min for the session ? 3. When you see red news in this 1h30min did you entry? Thank you for everything !!! {image} {image} {image}
Hello NPTrader,

Based on your screenshots, everything looks great and you can use any Strength Meter Indicator you want
as long as the reading(Current Market Sentiment) matches with what's going on in the charts....

#1.
Before you get into any trades, you gotta have a Market Bias. If you choose to Enter the market on M5TF, your Trend
or Market Bias has to be based on M30TF Trend. [The same goes for Entries on M30TF - Trend on H4TF]. As far as Stoch
goes, you simply add positions above 88.6 or below 23.6 by following the Current Market Condition.

#2.
It's very critical to find opportunities during the first 2 hours of each session. So, it's best to observe the market during
the first 30mns, and wait for the Trend to be established. Within 30mns, you should know exactly where the market wants to
go for each currency pair you are trading that day. No Need to sit there for that long. [I-Paramonworktime is your best friend]

#3.
Before the Red News, the indicators/system will tell you where the market is most likely to go and you just need to confirm
that with that Strength Meter indicator after the news release. Remember that, you get bigger Spreads during Red News,
so give the market 15mns to settle down and Enter after.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,857
  • Edited 3:13am Aug 9, 2017 3:02am | Edited 3:13am
Fast 20 pips on USDCHF. Here it's screen with strength when I entry. I make sl/tp 1:1 and breakeven when I get 0.75.

It's awesome , It's really helps to trade the strongest and weaknest pair , it's make a bigger picture.



You know mayby some meter where we can make some manually bactest or its impossible? Mayby SMSession from "Robinho system power 1x8"
https://www.forexfactory.com/showthread.php?t=588641
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"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #1,858
  • Aug 10, 2017 9:41am Aug 10, 2017 9:41am
Quoting NPTrader
Fast 20 pips on USDCHF. Here it's screen with strength when I entry. I make sl/tp 1:1 and breakeven when I get 0.75. It's awesome , It's really helps to trade the strongest and weaknest pair , it's make a bigger picture. You know mayby some meter where we can make some manually bactest or its impossible? Mayby SMSession from "Robinho system power 1x8" https://www.forexfactory.com/showthread.php?t=588641 {image} {image}

Based on my limited knowledge, I think it's impossible to backtest a "Strength Meter Indicator". This type of system is
focused more on a Forward Testing approach, and it's ideal for you to grow as a trader mentally.

Every single day is different in the market, and every time you get to your Office Desk to trade, you know exactly
your routine and you do not get attached to any particular pair....

Great Decision on your USDCHF Trade. The Overall Market Sentiment/Bias was Bearish, you simply went to a lower TF
like M5TF to get your Entry. The fact that you knew where to put your SL and TP, your level of confidence went from 50%
to 80% in a matter of seconds. This is the kind of environment you need to create around you every single day.

By the way, I will look into Robinho System, and I think he uses the same concept and maybe using only 1 pair at a time.

Building Confidence and having the Conviction to make the right Decision while the Bigger picture is being unfolded.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,859
  • Aug 30, 2017 7:49pm Aug 30, 2017 7:49pm
Wednesday, Aug. 30th 2017

Potential Trade Setups for the Week:

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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,860
  • Sep 2, 2017 6:48pm Sep 2, 2017 6:48pm
Key Upcoming News Events (Updates – Sept 3rd thru Sept 8th, 2017):

Australian Rate Decision: The Reserve Bank of Australian lowered its interest rate to 1.50% in August
2016 and hasn’t changed it since then. This time will not be different. In the past few months, the RBA
sent mixed messages regarding their next moves, but one thing is clear: they are not pleased by the
strength of the A$. Will they try to talk down the currency now?

UK Services PMI: The third in the series of purchasing managers’ indices, is the most important one, for
the largest sector. Back in July, the figure stood at 53.8 points, into growth territory, but below levels seen
early in the year. The publication has a significant impact on the pound. A score of 53.6 is on the cards.


Australian GDP: Australia’s GDP will also be eyed as a proxy for Chinese growth and to the global
economy. In Q1, the economy grew by 0.3%. While this exceeded early expectations, it is not impressing
in absolute terms. Economists expect a growth rate of 0.9% q/q in Q2 2017.

US ISM Non-Manufacturing PMI: This report for the services sector is usually published before the
Non-Farm Payrolls and serves as an indicator. This time, it is published six days afterwards, giving it space
of its own. In July, ISM reported a disappointing drop in the indicator: 53.9, a drop of 3.5 points from June
and lowest since August 2016. A reversion to higher levels is expected: 55.5 points.

Canadian Rate Decision: The Bank of Canada raised rates in July and also issued a hawkish statement.
The C$ jumped before and after the decision. Since then, the Canadian dollar cooled down and the BOC
is not seen as very eager to hike soon. This time, no change is expected, but the accompanying statement
will be closely watched for hints about a hike in October. All the options are on the table.


ECB Rate Decision: Will the ECB announce QE tapering? And what will the scale be? These are open
questions that keep EUR/USD on the edge. We know that the central bank will make a decision in the fall,
according to what ECB President Mario Draghi said in the previous decision.

The bond-buying scheme currently consists of 60 billion euros per month until the end of 2017 and the big
question is for the future of the program in early 2018. Will they make another reduction of 20 billion but
continue the program for longer? Or will they reduce the scale on a monthly basis and end it soon?

The ECB could also delay the decision to the October meeting, but making a decision now makes more sense.
The ECB releases new forecasts for inflation and growth right now and they usually make decisions around
the decisions that include new forecasts. EUR/USD is holding its breath.

Japanese GDP (final): Japan’s preliminary publication of Q2 GDP came out much better than expected:
a quarterly growth rate of 1%. Will it be downgraded this time? Japanese GDP reads see significant revisions.
A downgrade to 0.7% is projected.


Canadian jobs report: With the early publication of the US jobs report, Canada’s own measure gets its own
time in the limelight. Canada reported a gain of 10.9K jobs in July. The OK result was not as impressive as
most reports so far in 2017. The unemployment rate stood at 6.3%. A rise of 15K is predicted.
The unemployment rate is expected to remain unchanged at 6.3%.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
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