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multiple systems per pair/multiple pairs per system? 3 replies

Trading 24 hours per day, 5 days per week 14 replies

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  • #21
  • Sep 26, 2017 12:00pm Sep 26, 2017 12:00pm
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  • #22
  • Sep 26, 2017 12:29pm Sep 26, 2017 12:29pm
Missed entry but will see if it would've played. Cheap stop of 8 pips so 3:1 would've been only 24 pips. Xs show stop and target.
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  • #23
  • Sep 27, 2017 7:10am Sep 27, 2017 7:10am
Following price
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  • #24
  • Sep 27, 2017 6:15pm Sep 27, 2017 6:15pm
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  • #25
  • Oct 1, 2017 8:41pm Oct 1, 2017 8:41pm
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  • #26
  • Oct 3, 2017 7:34am Oct 3, 2017 7:34am
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  • #27
  • Oct 3, 2017 8:07am Oct 3, 2017 8:07am
Quoting Winston Reed
{image}
revised
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  • #28
  • Oct 4, 2017 8:52am Oct 4, 2017 8:52am
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  • #29
  • Oct 6, 2017 4:38pm Oct 6, 2017 4:38pm
Hey Winston, good to see your posting and will look forward to your charts. Looks like your drawing well.

I've avoided the private MG chat on purpose. I have found that the one on one was intense (didn't even think about how hard I was grinding at it) and it's taking me some time to digest and then process it into something simple.

Hasn't helped that the Euro and the Yen have been ranging for a week or so. Don't get me wrong, I've had a winning month, small as the win is, but I'm not risking much either. So it's good. I'm gonna try a longer time frame and see how I like that. I should be able to look at more charts and the spread ends up being a smaller percentage.

Thanks for re-subscribing me and I hope this finds you and your wife well.
  • #30
  • Oct 6, 2017 9:43pm Oct 6, 2017 9:43pm
Quoting Sossos
Hey Winston, good to see your posting and will look forward to your charts. Looks like your drawing well. I've avoided the private MG chat on purpose. I have found that the one on one was intense (didn't even think about how hard I was grinding at it) and it's taking me some time to digest and then process it into something simple. Hasn't helped that the Euro and the Yen have been ranging for a week or so. Don't get me wrong, I've had a winning month, small as the win is, but I'm not risking much either. So it's good. I'm gonna try a longer time...
Good to hear from you my friend. I’ve learned much from Shane. So far the lessons are not redundant so I’m sticking with them. Today was one of the better lessons. I’ve limited my live trading recently. Trying to observe and learn rather than force trades. I post here more so I can come back and look at what I was doing wrong. LOL. I also don’t want to regurgitate info learned from Shane. It’s hard sometimes because the nuggets I learn from him are golden. I hope you will chime in here with your comments, criticism, etc.
  • #31
  • Oct 7, 2017 1:29pm Oct 7, 2017 1:29pm
While I don't want to limit how I draw, I find that there are places where a regular median line works well and places where the modified works well. As always, it's what I'm measuring that is important. I always try both, just to see.

What I am finding is that while a trader doesn't have to dig into Elliott to understand the wave process. It doesn't hurt either, so long as it's not so complicated and the if and but if this happens shit..... I think Professor Andersen made it simpler and better. To meld ( labels, lines, structure and PA) these processes together to understand how to use them I have had to create a process to understand the process better.

For a journal I am using OneNote. So what I am attempting to do is start the beginning of each week with an assessment of the price action with labels, comments, thoughts and possibilities, as if I'm describing to someone written directly on the chart. Then I put the pictures with comments and any further comment in the OneNote which will then build a library of my views and hopefully growth of my insights and abilities. The goal is to understand swings better. Then the trading will a forgone conclusion. A couple of examples of what I've just described.

Shane says it all when he says it's all in the swings!!!!!
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  • #32
  • Oct 7, 2017 7:30pm Oct 7, 2017 7:30pm
I like what you're doing Steve. Here's my EURUSD H4. Keep posting updates of yours and I'll do the same. So we can compare.
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  • #33
  • Oct 7, 2017 8:25pm Oct 7, 2017 8:25pm
So, my question would be what are you thinking may happen. My commentary is with the understanding that a zoom bar can blow thru the lines and head south, where I could catch a possible retest. But....we go thru the trouble mapping a chart knowing that the line will get hit 80% of the time. With the flow up, I'm looking at that scenario, but can relax knowing that I don't have to be perfect or catch the exact low or high in the case of a zoom retest. ( the other clue is the 3 legged A leg down)
  • #34
  • Edited 8:57pm Oct 7, 2017 8:46pm | Edited 8:57pm
Quoting Sossos
So, my question would be what are you thinking may happen. My commentary is with the understanding that a zoom bar can blow thru the lines and head south, where I could catch a possible retest. But....we go thru the trouble mapping a chart knowing that the line will get hit 80% of the time. With the flow up, I'm looking at that scenario, but can relax knowing that I don't have to be perfect or catch the exact low or high in the case of a zoom retest. ( the other clue is the 3 legged A leg down)
Damn! I didn't think you would ask me the obvious question. I would not be opposed to selling a retest of the first gap for a trip to the lower parallel. The stop is pretty cheap. But as you know price often washes and rinses and this could happen into the gap/s above. I think price ultimately may get to the lower parallel but the entry is not definite. There is a nice gap below which I think could be attracting price.
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  • #35
  • Oct 7, 2017 10:07pm Oct 7, 2017 10:07pm
I don't see your set of lines from the prior swing ( the up sloper), is there a reason? (either type produces the same basic result!!) Am I missing something?
  • #36
  • Oct 8, 2017 9:03am Oct 8, 2017 9:03am
Quoting Sossos
I don't see your set of lines from the prior swing ( the up sloper), is there a reason? (either type produces the same basic result!!) Am I missing something?
I see the possible upsloper but not drawing it in to keep my chart clean. If price beats that first gap to the upside then I'll consider drawing it in. Right now I see the current large blue fork projecting price to it's lower parallel or expanding. I can see a sell off the first gap as a possibility. The stop is not bad and 3:1 is achievable. Anyway I'll probably redraw this again before markets open. The other thing that influences me is the fact that Monday is US holiday so I'm probably not going to trade this live.
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  • #37
  • Oct 12, 2017 5:02pm Oct 12, 2017 5:02pm
Did you find the short you were looking for?

I played a small counter flow long on the A/U and am currently short A/U, but I might be early, very close to BE so not much risk anymore.
  • #38
  • Oct 12, 2017 6:31pm Oct 12, 2017 6:31pm
Quoting Sossos
Did you find the short you were looking for? I played a small counter flow long on the A/U and am currently short A/U, but I might be early, very close to BE so not much risk anymore.
I took a short on the 5 minute EU this am. It was 3:1 but amounted to 15 pips.
  • #39
  • Oct 15, 2017 11:37am Oct 15, 2017 11:37am
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  • #40
  • Oct 15, 2017 12:07pm Oct 15, 2017 12:07pm
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