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Trading is as simple as 1-2-3

  • #4,881
  • Oct 26, 2017 12:58am Oct 26, 2017 12:58am
Pretty much nailed down trade. Did take a slight move North but only a head-fake, nothing to get worried about.

Brent / US Crude Future Diff
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  • #4,882
  • Oct 26, 2017 1:13am Oct 26, 2017 1:13am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
{quote} 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.
Had my long placed at 920 and got picked! Now I am hedged for my puts.. might get nasty today due to ecb.though I don't expect higher than 13140ishh but dax is a beast can't be careful and why lose the opportunity on longs. Puts expiring in mar and loss/ deposit locked already!
  • #4,883
  • Oct 26, 2017 1:24am Oct 26, 2017 1:24am
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Short the EJ after it made the new high +5 locked Still in my GU long from yesterday at +113
  • #4,884
  • Oct 26, 2017 1:27am Oct 26, 2017 1:27am
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Long AU +5 locked
  • #4,885
  • Oct 26, 2017 1:33am Oct 26, 2017 1:33am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting hal7
{image} Short the EJ after it made the new high +5 locked Still in my GU long from yesterday at +113
Good one Hal!!
  • #4,886
  • Oct 26, 2017 1:34am Oct 26, 2017 1:34am
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Short JY +5 locked
  • #4,887
  • Oct 26, 2017 1:35am Oct 26, 2017 1:35am
Quoting ams
{quote} Had my long placed at 920 and got picked! Now I am hedged for my puts.. might get nasty today due to ecb.though I don't expect higher than 13140ishh but dax is a beast can't be careful and why lose the opportunity on longs. Puts expiring in mar and loss/ deposit locked already!
Grabbed The Beast by the tail and rode it on the break down. I bailed and avoided the bouncing around at the bottom and let the return trip go without any involvement. Not 1-2-3, so won't post charts - just spit-ballin' with you.
  • #4,888
  • Oct 26, 2017 1:39am Oct 26, 2017 1:39am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Quoting lemercenaire
{quote} Grabbed The Beast by the tail and rode it on the break down. I bailed and avoided the bouncing around at the bottom and let the return trip go without any involvement. Not 1-2-3, so won't post charts - just spit-ballin' with you.
it's going to be fun day I hope. 200 pip up and down than downwards I wish
  • #4,889
  • Oct 26, 2017 2:05am Oct 26, 2017 2:05am
EJ +21 switched to 20 trailer
  • #4,890
  • Oct 26, 2017 2:29am Oct 26, 2017 2:29am
How is this any different to your other thread? You're basically waiting for a high/low to form, then entering on a reversal across the bar open?
  • #4,891
  • Oct 26, 2017 2:53am Oct 26, 2017 2:53am
Quoting hal7
EJ +21 switched to 20 trailer
great trade!
do you still locking +5 pips after you get +10 pips on paper?
trading is like dancing, don't think and just listen to the music!
  • #4,892
  • Oct 26, 2017 3:14am Oct 26, 2017 3:14am
Quoting hal7
EJ +21 switched to 20 trailer
there where still a few losing trades out there this morning which fit the set ups. Curious as to why you dont take those trades also..
  • #4,893
  • Oct 26, 2017 3:30am Oct 26, 2017 3:30am
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Long GU +5 locked My trade from yesterday stopped out at +104
  • #4,894
  • Oct 26, 2017 3:38am Oct 26, 2017 3:38am
Quoting Scrambleguy
{quote} there where still a few losing trades out there this morning which fit the set ups. Curious as to why you dont take those trades also..
Aha, you're on to me Scrambleguy. I don't post all of my trades in particular the losers, nor do I take them all. I do in fact lose some trades I try to avoid them by watching movement and pattern. In posting on here for a year now have not been able to determine a sure thing, but do OK. I guess that's the nature of trading.

I am currently AU long +26, EJ short +20, JY long +12, GU long +4. EG short +4, GJ long -1, CF short -2
  • #4,895
  • Oct 26, 2017 3:45am Oct 26, 2017 3:45am
Quoting birdland
{quote} great trade! do you still locking +5 pips after you get +10 pips on paper?
I have changed my approach a number of times on managing a trade. I used to take 80-90% off at +5. Recently I have let the entire trade ride. I will now usually go to a trailing stop of 20 if I hit +20. I usually don't move it before that. What I am generally looking for is that big runner. Like yesterday. Those don't happen a lot but I was in the right place at the right time and the GU pairs took off in one direction and kept going all day. News of course propelled that.

I also experimented with reversing my position on a stop out taking 5x leverage and usually clearing in 4 pips with that. It's great when it works, not so great when it doesn't. I concluded that even though those losses were few, they created too sizable a dent.
  • #4,896
  • Oct 26, 2017 4:03am Oct 26, 2017 4:03am
Quoting hal7
{quote} I have changed my approach a number of times on managing a trade. I used to take 80-90% off at +5. Recently I have let the entire trade ride. I will now usually go to a trailing stop of 20 if I hit +20. I usually don't move it before that. What I am generally looking for is that big runner. Like yesterday. Those don't happen a lot but I was in the right place at the right time and the GU pairs took off in one direction and kept going all day. News of course propelled that. I also experimented with reversing my position on a stop out taking...
thank you for your answer. i have deeply respect for you posting since a year and i am still new, reading and learning this simple approach.

so when i understand you right, you will neither use a BE-stop after 5 pips nor you will lock in partially profits after +5 pips?
trading is like dancing, don't think and just listen to the music!
  • #4,897
  • Oct 26, 2017 4:23am Oct 26, 2017 4:23am
Quoting birdland
{quote} thank you for your answer. i have deeply respect for you posting since a year and i am still new, reading and learning this simple approach. so when i understand you right, you will neither use a BE-stop after 5 pips nor you will lock in partially profits after +5 pips?
Right now that is correct. I am staying with the full trade. Trade management is a very personal choice ranging from ultraconservative like TooSlow used to move to BE +1 profit when it hit +5. Not sure what he does now. The flip side of that was my reverse leverage approach that I have used, very risky.

Avoiding losses is very important in trading as those lost pips can be difficult to recoup. But I also found running with very tight stops usually also guaranteed a stop very soon. Giving a trade room to breathe and take hold for a possible run is what I am looking at now. On the flipside I plan to experiment with an approach that pulls the plug quickly on a trade not in line with the move, not letting it run to the original stop and saving pips.

Over the year I have varied my trade management often but the core concept of the trading has never changed. You don't see that much on FF. 1-2-3 is not my main trading method but it has held up well over time.
  • #4,898
  • Oct 26, 2017 4:43am Oct 26, 2017 4:43am
Quoting hal7
{quote} Right now that is correct. I am staying with the full trade. Trade management is a very personal choice ranging from ultraconservative like TooSlow used to move to BE +1 profit when it hit +5. Not sure what he does now. The flip side of that was my reverse leverage approach that I have used, very risky. Avoiding losses is very important in trading as those lost pips can be difficult to recoup. But I also found running with very tight stops usually also guaranteed a stop very soon. Giving a trade room to breathe and take hold for a possible...
well, i can understand you now better. i have also another main trading method, but like new things to learn.
i personally hate BE stops, because very often-like u said- it will be taken out and the market sais "good bye"
will try typical 2:1 money management style to get a better feeling...
anyway, thx. for answer and good trading!
trading is like dancing, don't think and just listen to the music!
  • #4,899
  • Oct 26, 2017 4:50am Oct 26, 2017 4:50am
Update on my trades the news set off some fireworks, EJ +70. AU +30, EG +23, JY +10, GU -13
  • #4,900
  • Oct 26, 2017 5:10am Oct 26, 2017 5:10am
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Long CA +5 locked
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