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Trading is as simple as 1-2-3

  • #4,861
  • Oct 25, 2017 3:15am Oct 25, 2017 3:15am
Quoting Dmarth10
Hi all, I have been reading this thread and really like the simplicity. I have a couple questions to clear up to make sure in trading this correctly. Are you guys entering with buy and sell stops that you enter while price is testing the low/high? Or are you manual entering. Also, were entering while the bar that's testing the high or low is still open? So price heads towards the low/high, reverses, then as soon as it hits the open price of the test bar initiate the trade? So this may cause a close higher than your entry on a sell and vice versa?...
I always enter manually. Not sure I understand the part about the open bar. The open bar to me would always be the entry point, not waiting for it to close. As far as managing the trade as Lem pointed out very personalized. I have done a lot of variation on this. Usually taking most of the trade off at +5 and letting the rest go, not moving my stop which is 3 pips below the low on a buy and 5 pips off the high on a sell. This week I am not taking profit at +5.
  • #4,862
  • Oct 25, 2017 3:22am Oct 25, 2017 3:22am
Quoting hal7
{quote} I always enter manually. Not sure I understand the part about the open bar. The open bar to me would always be the entry point, not waiting for it to close. As far as managing the trade as Lem pointed out very personalized. I have done a lot of variation on this. Usually taking most of the trade off at +5 and letting the rest go, not moving my stop which is 3 pips below the low on a buy and 5 pips off the high on a sell. This week I am not taking profit at +5.
I think he's meaning that you go in on an entry but then that bar turns and goes on to make a new extreme, so if you're looking in retrospect, it looks like you've entered on the wrong bar.
  • #4,863
  • Oct 25, 2017 3:44am Oct 25, 2017 3:44am
My early-morning fix...

DAX
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  • #4,864
  • Oct 25, 2017 3:51am Oct 25, 2017 3:51am
The news can be useful sometimes, lol!

GBPUSD
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  • #4,865
  • Oct 25, 2017 3:52am Oct 25, 2017 3:52am
Attached Image (click to enlarge)
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Nice to be on the right side of the news release though it is risky. GU +42, I am also long GJ +57, short EG +22, all at full trade no profit taking at +5.
  • #4,866
  • Oct 25, 2017 3:59am Oct 25, 2017 3:59am
Attached Image (click to enlarge)
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GJ to the moon +95 I slapped 50 trailers on all three trades.
  • #4,867
  • Oct 25, 2017 4:32am Oct 25, 2017 4:32am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
My early-morning fix... DAX {image}
Given up now held my cash short from 13025 yesterday and closed at 12990..darn 50 pip atr from past few weeks... keeping my puts that expires in mar 2018... will try and go long if we go to 900ishh big day tomorrow for euro and dax..
  • #4,868
  • Oct 25, 2017 4:37am Oct 25, 2017 4:37am
Quoting hal7
{image} Nice to be on the right side of the news release though it is risky. GU +42, I am also long GJ +57, short EG +22, all at full trade no profit taking at +5.
nice profit, but that is pure speculation...the gaps i had in the past on the wrong side can be as much as -30 pips. and i have a large volume broker...
trading is like dancing, don't think and just listen to the music!
  • #4,869
  • Oct 25, 2017 4:52am Oct 25, 2017 4:52am
Quoting birdland
{quote} nice profit, but that is pure speculation...the gaps i had in the past on the wrong side can be as much as -30 pips. and i have a large volume broker...
Trading is speculation more or less. Sometimes more, sometimes less. I do get widening on spreads during news but in this case was not enough to take me out. Wasn't watching that at the time so not sure what it was. Don't think it is 30 though.

GJ +130, GU +80, EG +50
  • #4,870
  • Oct 25, 2017 5:56am Oct 25, 2017 5:56am
Just sitting on these trades for now... GJ +170, GU +122, EG +69 all with 50 trailing stops
  • #4,871
  • Oct 25, 2017 6:26am Oct 25, 2017 6:26am
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Short EU +5 locked
  • #4,872
  • Oct 25, 2017 7:11am Oct 25, 2017 7:11am
first short EU -8
second short EU -4
strange day...
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trading is like dancing, don't think and just listen to the music!
  • #4,873
  • Oct 25, 2017 8:21am Oct 25, 2017 8:21am
Quoting hal7
{quote} Trading is speculation more or less. Sometimes more, sometimes less. I do get widening on spreads during news but in this case was not enough to take me out. Wasn't watching that at the time so not sure what it was. Don't think it is 30 though. GJ +130, GU +80, EG +50
Nice trading Hal, inspirational
  • #4,874
  • Oct 25, 2017 8:24am Oct 25, 2017 8:24am
Quoting lemercenaire
My early-morning fix... DAX {image}
Great work Lem, gotta love those early morning pips
  • #4,875
  • Oct 25, 2017 8:28am Oct 25, 2017 8:28am
I got back from running errands this morning just in time for the 2pm candle. Gotta love this method .

AU long
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  • #4,876
  • Oct 25, 2017 10:09am Oct 25, 2017 10:09am
Quoting ams
{quote} Given up now held my cash short from 13025 yesterday and closed at 12990..darn 50 pip atr from past few weeks... keeping my puts that expires in mar 2018... will try and go long if we go to 900ishh big day tomorrow for euro and dax..
Sitting at 12941 with a low 12936 just now.

I didn't see any of it. Potential to take a long position off the second low bar but there was too much room to go in on the original drop.
  • #4,877
  • Oct 25, 2017 10:13am Oct 25, 2017 10:13am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #4,878
  • Oct 25, 2017 10:17am Oct 25, 2017 10:17am
Quoting HighFive
{quote} Great work Lem, gotta love those early morning pips
I never used to be a morning person - but for this, I make an exception, lol!
  • #4,879
  • Oct 25, 2017 12:19pm Oct 25, 2017 12:19pm
Update on my earlier trades GJ stopped out at +142, still in GU +133, and EG +53
  • #4,880
  • Oct 25, 2017 2:01pm Oct 25, 2017 2:01pm
Quoting hal7
Update on my earlier trades GJ stopped out at +142, still in GU +133, and EG +53
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