100K goal before Christmas | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Automated trading: $200 to $100K in 1 year 27 replies

How I Turned 1k To 100k In A Wk!!! 1,192 replies

friend wants to leave 100k, for 5%, riskless profit. 35 replies

Attachments: 100K goal before Christmas
Exit Attachments

100K goal before Christmas

  • #21
  • Oct 13, 2017 4:11am Oct 13, 2017 4:11am
Quoting Erebus
{quote} I should have explained earlier, the trade wasn't made on 15 Min - that was for ease of displaying the entry and result And it's not so much about the trade but the timing Trade was a 4 Hour breakout with a stop loss equal to the ADR, and I still lost That really sucks because the analysis was right, price is above and going up today But I guess with your trading small time frames, trend not so much a consideration? Thanks

There is this very cute trader from FB who mentioned taking trades on the ADR. ADR is a very dangerous indicator to follow only because it tends to get away from PA. A mix of using the 15m with the 1m allows me to continue with the trend (15m), while focusing on the accurate entries on the lower tf. Imagine how you would have felt if you were buying and the price never came back up. Clearly, GU created a cup and handle formation but those formations increase depending on the day of the week. We all know that ADR gets wider due to Thursday's and Friday's price action being those days typically have the highest range. Which means Monday - Wednesday, typically, will be the days which you see "reversals" of "break-outs" better known as the cup and handle formation.
  • #22
  • Oct 13, 2017 5:57am Oct 13, 2017 5:57am
Quoting PuttPutt4x
{quote} There is this very cute trader from FB who mentioned taking trades on the ADR. ADR is a very dangerous indicator to follow only because it tends to get away from PA. A mix of using the 15m with the 1m allows me to continue with the trend (15m), while focusing on the accurate entries on the lower tf. Imagine how you would have felt if you were buying and the price never came back up. Clearly, GU created a cup and handle formation but those formations increase depending on the day of the week. We all know that ADR gets wider due to Thursday's...
And that is what we are here for, if you can give some clear, concrete example of what it take to trigger an entry on a 1-Minute chart, that would be much appreciated



I don't see anything wrong with using ADR as a tool for knowing how far price has moved already by London open, and therefore how much room is left to move!
It takes a lot for me to IGNORE you, but you can try.
  • #23
  • Oct 13, 2017 7:35am Oct 13, 2017 7:35am
Quoting Erebus
{quote} And that is what we are here for, if you can give some clear, concrete example of what it take to trigger an entry on a 1-Minute chart, that would be much appreciated I don't see anything wrong with using ADR as a tool for knowing how far price has moved already by London open, and therefore how much room is left to move!
Imagine if you trade with 0 expectation of a certain condition to be met. You simply trade certain patterns with the hopes it reverses in order to risk the same amount of pips but with a different lot size. Price action has no bias. PA moves against the masses and typically uses High impact NEWS to push the market way past the ADR and throwing the avg off for a long time. You could also use ADR on 1m but you should do it over a small time frame. That is how we have the MA. Let the weekend come and I will gladly explain to you.
  • #24
  • Oct 13, 2017 3:27pm Oct 13, 2017 3:27pm
Here is the 76.4 fib level.

Attached Image


Whenever I see a massive breakout candle on the 1m (a candle which is at least 4x the hourly range) I then calculate the high and low of the move once my 2 ma lines cross. Once that occurs, I simply wait for a 76.4 reject (which is the first candle which you see that touched the 76.4 fib, but didn't close at or above it) and then enter once the high or low of that one candle is closes crossed on the 1m. I then ride it to 23.6 fib level (tp) or reverse order once the price closes on the opposite of the candle which first touched the 76.4 fib.

Does that any sense?
  • #25
  • Oct 13, 2017 3:35pm Oct 13, 2017 3:35pm
Look at how the current price is reacting against the HIGH of the candle which was first to touch the 76.4 You don't buy unless it closes across it on the 1m.
Attached Image
  • #26
  • Oct 13, 2017 9:49pm Oct 13, 2017 9:49pm
Quoting PuttPutt4x
Here is the 76.4 fib level. {image} Whenever I see a massive breakout candle on the 1m (a candle which is at least 4x the hourly range) I then calculate the high and low of the move once my 2 ma lines cross. Once that occurs, I simply wait for a 76.4 reject (which is the first candle which you see that touched the 76.4 fib, but didn't close at or above it) and then enter once the high or low of that one candle is closes crossed on the 1m. I then ride it to 23.6 fib level (tp) or reverse order once the price closes on the opposite of the candle which...
Make sense? not completely, you refer to a 1 minute chart but show a 15 minute chart, so not sure about that

But I'll try, but I need to break it down step by step I'm afraid

So, there is an impulsive move on a time frame, 4 times larger than the ATR of 1 hour, to me that is on the EURUSD ATR(50) = 14 so times 4 = 56 pips

That candle on 15 minutes you show is 67 pips, so a candle that big on 1 minute will be hard to find

Anyway, moving on, we observe the MA cross over up, and then there is price retracement down to the 76.4 FIB

At this point, I am assuming we are looking for a long trade as that is the usual way to trade a retracement but I could be wrong; it's not mentioned.

So the entry is above that candle that touched the 76.4 but did or didn't close below it?

The MA crossed back down but are ignored for now?

And the exit is back up at the 23.6 FIB which unfortunately is not shown on the chart ???

How am I doing so far? I think the devil is in the details which are not coming to be clear for me yet

Perhaps an actual opened and closed trade will be the best for teaching purposes

Thanks, for sharing
It takes a lot for me to IGNORE you, but you can try.
  • #27
  • Oct 16, 2017 4:54pm Oct 16, 2017 4:54pm
Quoting Erebus
{quote} Make sense? not completely, you refer to a 1 minute chart but show a 15 minute chart, so not sure about that But I'll try, but I need to break it down step by step I'm afraid So, there is an impulsive move on a time frame, 4 times larger than the ATR of 1 hour, to me that is on the EURUSD ATR(50) = 14 so times 4 = 56 pips That candle on 15 minutes you show is 67 pips, so a candle that big on 1 minute will be hard to find Anyway, moving on, we observe the MA cross over up, and then there is price retracement down to the 76.4 FIB At this point,...

I show the 15min chart because I look to zoom into the 1m, once a certain pattern is formed on the higher tf.
The first candle to touch across the 76.4 which is the same as 23.6 (which is why I didn't mention it. However, if you look at the two base numbers 0 and 100; the number 23.6 is clearly 23.6 levels from 0.0 and the 76.4 is also 23.6 away from 100.00 making them inverse. So no matter how you slice it up, I use 23.6 as a magic fib. I believe I have spotted a weakness with that fib level on all TF, even tick but those are a way to fast for me to trade.

Quoting Erebus
{quote} So, there is an impulsive move on a time frame, 4 times larger than the ATR of 1 hour, to me that is on the EURUSD ATR(50) = 14 so times 4 = 56 pips That candle on 15 minutes you show is 67 pips, so a candle that big on 1 minute will be hard to find Anyway, moving on,

Very good point. I think from my trades you can see I trade the 1m. I really throw my money management around based on the probability of the 1:! ratio being hit before x amount of consecutive losses. That is my market bias. That is what I see when I look at a chart. Everything else means nothing to me. Most of the high impact news the system avoids anyway by default. I really try not to be exposed to much to the market. The less time in the better.
  • #28
  • Oct 16, 2017 5:02pm Oct 16, 2017 5:02pm
Here is my other account. That one I am taking much higher risk on the same instrument. https://www.myfxbook.com/members/PuttPutt4x/fbs-100k-by-christmas/2292096
  • #29
  • Oct 17, 2017 6:56am Oct 17, 2017 6:56am
Cup and handle formation coming up for my equity curve.

Attached Image (click to enlarge)
Click to Enlarge Name: Almost.PNG Size: 38 KB
  • #30
  • Oct 21, 2017 4:47pm Oct 21, 2017 4:47pm
Attached Image (click to enlarge)
Click to Enlarge Name: accounthih.PNG Size: 38 KB


Thus far account is at high!
  • #31
  • Oct 22, 2017 7:55pm Oct 22, 2017 7:55pm
Attached Image (click to enlarge)
Click to Enlarge Name: what.PNG Size: 29 KB


Right now in the third formation!
  • #32
  • Oct 22, 2017 7:56pm Oct 22, 2017 7:56pm
Here you are! Order 3 drops!

Attached Image (click to enlarge)
Click to Enlarge Name: noo.PNG Size: 23 KB
  • #33
  • Oct 22, 2017 9:17pm Oct 22, 2017 9:17pm
The part I have come to know as true, is that we can never predict the color of the next candle much less the length. Which means that when certain PRICES (specific ones) are crossed, you would be counter trading what might be the first candle in a 500 pip run against a 4hr trend that has held for the last 6 months! Suddenly lost in a day. Figure out that price and you can use correct money management to get negative pips and + net gain!
  • #34
  • Oct 24, 2017 4:43am Oct 24, 2017 4:43am
what is going on?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-10-24 11.44.24.png Size: 252 KB
  • #35
  • Oct 25, 2017 7:03am Oct 25, 2017 7:03am
That is a margin call. However, I have loaded a new account. End of week account shall be at 5k. Goal of 100k by Christmas still in order!
  • #36
  • Oct 25, 2017 3:50pm Oct 25, 2017 3:50pm
It is so shocking how your system can come down to 1 tick from triggering the start of death! lol Now, we just repeat what was done with the equity curve and stick to the MM and the GOAL still shall be reached. This account goes to 10,000 and I shall withdraw. Put some in the bank and run another account up. Scalping with the ability to wager .01% to 20% per pip is pretty amazing. Accuracy allows you to run up and withdraw. First stop is 12k then take down 10k! 300 a day I will take that hands down!
  • #37
  • Last Post: Oct 31, 2017 5:39pm Oct 31, 2017 5:39pm
I am aiming for 6k in equity within this formation. Let us see how it works out. 10k by end of week is my goal.
0 traders viewing now