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Trading is as simple as 1-2-3

  • #4,401
  • Aug 14, 2017 1:58am Aug 14, 2017 1:58am
The DAX carryover trade hit the mark. All the signs were there, so no real drama...

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It always pays to take a chance on any of the other indices when one hits. You'll never get them all but often there is the chance of a small retrace getting you in on something on top of your main trade. That's what happened today for me on the US30...

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Of the rest of The Weird Bunch, the US500 mirrored its little bro and the F40 followed along. Both good.

The UK100 is pushing higher at the moment and may be a candidate later.
  • #4,402
  • Aug 14, 2017 2:25am Aug 14, 2017 2:25am
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Short the JY +5 took over an hour in a grinding market so far, Monday, no news.
  • #4,403
  • Aug 14, 2017 3:56am Aug 14, 2017 3:56am
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Kind of playing around this morning. I took a reverse position on this CF on my initial short. I was able to clear my loss which was very small, like 4 pips.
  • #4,404
  • Aug 14, 2017 4:37am Aug 14, 2017 4:37am
Do we have any summary docs here?
  • #4,405
  • Aug 14, 2017 5:11am Aug 14, 2017 5:11am
Quoting willingwill
Do we have any summary docs here?
Here you go...

Attached Image


Even simpler:

1: Bar #1 makes new H / L
2: Bar #2 fails to make new H / L
3: Enter as price crosses back over the Open of Bar #2
  • #4,406
  • Aug 14, 2017 6:36am Aug 14, 2017 6:36am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,407
  • Aug 14, 2017 8:46am Aug 14, 2017 8:46am
Quoting lemercenaire
{quote} Here you go... {image} Even simpler: 1: Bar #1 makes new H / L 2: Bar #2 fails to make new H / L 3: Enter as price crosses back over the Open of Bar #2
That's the way to do it - like wot Lem said:
Attached Image
every Saint has a past. Every Sinner has a Future
  • #4,408
  • Aug 14, 2017 9:33am Aug 14, 2017 9:33am
Quoting turnip15
{quote} That's the way to do it - like wot Lem said: {image}
How'd you get my passport photo?
  • #4,409
  • Edited 11:40am Aug 14, 2017 11:30am | Edited 11:40am
Had a tough one getting on to ride the yen today but closed out EURJPY +30

Took three goes to get on board ... I felt some inner turmoil: Was I trading on a hunch? Married to price dropping? Afraid of missing out after the first two B/Es (definitely)? ... my last entry was late, but felt the 123 signal(s) were strong, alongside last week's downward pressure, positive news overnight, in recent S/R zone

Big focus atm on letting the winners run and giving my stops some more time to breathe

Not quite a home run as used a smaller lot size on the late entry, but account is up so can't complain
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  • #4,410
  • Aug 14, 2017 2:28pm Aug 14, 2017 2:28pm
Quoting Lifecycle
Had a tough one getting on to ride the yen today but closed out EURJPY +30 Took three goes to get on board ... I felt some inner turmoil: Was I trading on a hunch? Married to price dropping? Afraid of missing out after the first two B/Es (definitely)? ... my last entry was late, but felt the 123 signal(s) were strong, alongside last week's downward pressure, positive news overnight, in recent S/R zone Big focus atm on letting the winners run and giving my stops some more time to breathe Not quite a home run as used a smaller lot size on the...
Have the base rules drilled into your dna until you can execute the trade entries in your sleep. I am sure I am not telling you anything you don't already know when I say that you have to take your emotions out of the equation.

This is not the same as saying don't make use of your experience, far from it. It is however saying that ''hunches'' and ''ifs-buts-and-maybees'' have no part in trading.

Once you work on and manage to rid your brain of these distractions, then the sense of calm you need to trade will come to the fore.

It takes practice, practice and then more practice...but you'll get there.

First off, you must trust the method.
  • #4,411
  • Aug 15, 2017 1:43am Aug 15, 2017 1:43am
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Long AU +5 locked
  • #4,412
  • Aug 15, 2017 1:51am Aug 15, 2017 1:51am
This past hour would not have mattered what pair I went with all performed nicely AU +12, EU +26, NZ +9, EG +25, JY +7, CA +21.
  • #4,413
  • Aug 15, 2017 2:52am Aug 15, 2017 2:52am
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I got this GU on a reverse through my stop which cleared the loss. Have been experimenting with these a bit. They seem to work under certain conditions particularly off strong moves from recent news releases that keep momentum going.
  • #4,414
  • Aug 15, 2017 4:19am Aug 15, 2017 4:19am
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Long CF +5 locked. Took a bit to get there, but it got there.
  • #4,415
  • Aug 15, 2017 4:35am Aug 15, 2017 4:35am
Quoting lemercenaire
{quote} Here you go... {image} Even simpler: 1: Bar #1 makes new H / L 2: Bar #2 fails to make new H / L 3: Enter as price crosses back over the Open of Bar #2
Can you show an example with a candle stick chart
  • #4,416
  • Aug 15, 2017 5:20am Aug 15, 2017 5:20am
Quoting dbayo09
{quote} Can you show an example with a candle stick chart
ONE
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TWO
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THREE
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  • #4,417
  • Aug 15, 2017 6:19am Aug 15, 2017 6:19am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,418
  • Aug 15, 2017 8:27am Aug 15, 2017 8:27am
Quoting lemercenaire
{quote} ONE {image} TWO {image} THREE {image}
Wow thanks for your reply. Its little confusing with the bar chart, can you post a candlestick chart instead. Please take a look at the last 3 bar before the current bar on GU chart below. Is that a trade?
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  • #4,419
  • Aug 15, 2017 8:59am Aug 15, 2017 8:59am
Quoting lemercenaire
{quote} ONE {image} TWO {image} THREE {image}
Your detailed explanation really help. Thanks
  • #4,420
  • Aug 15, 2017 2:06pm Aug 15, 2017 2:06pm
Quoting dbayo09
{quote} Wow thanks for your reply. Its little confusing with the bar chart, can you post a candlestick chart instead. Please take a look at the last 3 bar before the current bar on GU chart below. Is that a trade? {image}
I really don't see why you'd struggle with the bar chart - it's so much clearer as to what's going on, that's why we use them - however, just for you (and just this once, before anyone else asks)...

ONE
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TWO
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THREE
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The 1-2-3 example is at exactly the same position as the bar chart but obviously time has moved on at the right-hand edge.
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