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Indication Vindication

To keep things honest - past 3 days
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Good day,

Have not recorded trades here for a few days. I have now added a currency strength facet to specifically the EUR and GBP pairs. This as a further confirmation when trades are entered into, based on my indicator system. Will post later what was achieved today ( be it negative or positive)
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thats great. best wishes to you
and can you say something about your trading system?
It's great you're making progress in your recovery from your accident.
Good health and best wishes to you KingOSwing
.... laughing all the way to the bank
Quoting liunliun
thats great. best wishes to you and can you say something about your trading system?
Good day to you, LiunLiun

Thank you. I may do so when the time is right. Explorer running for only 70 days now. Too short a time in testing. Still looking to refine a little. But it is based on RSI, Stoch and now a little currency strength - in essence. Still plotting rules for better probability trading.

All the best!
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Quoting itsallover
It's great you're making progress in your recovery from your accident. Good health and best wishes to you KingOSwing
Thank you for the post! And thank you for the wishes. Recovery is slow - but ribs are now almost healed. Just do not want to sneeze! Will see doctor tomorrow to understand where we are. Appreciate you.

All the best and good trades!
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Good day,

Here is yesterday - only 55% winning trades. This needs to improve. These trades were taken based on indicators and currency strength. Still noting entry rules and refining when to cut losers.
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Hi KING
Morning, can you say something about your MM? or the logic of closing trade.

hope you have a good health
Quoting liunliun
Hi KING Morning, can you say something about your MM? or the logic of closing trade. hope you have a good health
Good day to you, LiunLiun

This is the challenging part. I spread entries. Consecutively larger entries.

Once I have identified a possible trade - normally scalping - I would enter small. Then add if price moves against my initial entry - but larger lots. (But only if the initial signal remains valid). I do not see this as Martingale - rather averaging in. Key is that the signal remains valid. I take the loss if the circumstances change. I take profit as soon as I am green - but will hold out if the price action indicates momentum in the direction chosen. Do not work with a ratio. Profit is profit.

I sometimes see more opportunity in taking profit and re-entering in the same initial direction numerous times - than holding.

Many will frown upon this.
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As an example - I look for this pattern - and this will be a super trade. Entry on the close of the bar. And will keep the trade for the next period - be it a day, week, 4hr or 1hr. If one can sit on the hands and only trage these - probability is very high for a net gain.

Scaling will happen if price drops below the close of the signal bar.
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Hi,

Going long on USD/CHF 4hr. Entered @ 0.9918. Will add longs if we drop.
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I like this good curve thought.

May I know how you enter trade? Lotsize and MM?
Quoting KingOSwing
Hi, Going long on USD/CHF 4hr. Entered @ 0.9918. Will add longs if we drop. {image}
Good day, Longs were added to the recent drop and profit was taken on the following 4hr bar retrace. I have again entered long. This time @ 0.9903.
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Quoting dexpert
I like this good curve thought. May I know how you enter trade? Lotsize and MM?
Good day, dexpert

Thank you - perhaps just lucky..

I find the signal I believe has high probability. Then enter and attempt to find the best possible average price for the entry. If I trade long and price goes against me, I will add increased size lots in intended direction as long as the signal remains valid. Same for Short. Then take profit when in profit. Do not wait for all entries to turn green. Just need a few.

As an example - for a smaller account it would be entering size 0.01, 0.02, 0.04, 0.08, 0.1 - again - as long as the signal is valid.

All the best to you!
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Quoting KingOSwing
{quote} Good day, Longs were added to the recent drop and profit was taken on the following 4hr bar retrace. I have again entered long. This time @ 0.9903.
Closed longs again to take the gains. Re-entered long again - [email protected] 0.9899
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Quoting KingOSwing
{quote} Closed longs again to take the gains. Re-entered long again - [email protected] 0.9899
Closed most of the longs again - leaving partial position open @ 0.9889. Will add again if we drop below this level. Or close when setup changes.
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Today's trading. Do not think I will do any additional trades. Tired. Will only watch the Swissy and manage that. Small improvement on winning percentage.
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Man,

That Swissy trade was UGLY!

The signal held and I managed to recover and walk out in profit. I see it recovered reasonably well in the end. I however got out early to bank.

Im looking to LONG EU on the 30 min. Enter @ 1.1816. Will add if we go lower.
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Quoting KingOSwing
Man, That Swissy trade was UGLY! The signal held and I managed to recover and walk out in profit. I see it recovered reasonably well in the end. I however got out early to bank. Im looking to LONG EU on the 30 min. Enter @ 1.1816. Will add if we go lower. {image}
Going to put it out there...

I have noticed a certain formation culminating ( same as I saw on Swissy) - where a bear trap of sorts is formed. It will inevitably end up in a V- formation or a U-type formation. I see this pattern forming on EU 30 min. I therefore have to take confidence that long will eventually pay - just have to buid the position. Let's see if this works out...
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On USDCAD 4hr chart - we may see 1 of these 3 formations taking place over the next few 4 hr bars. ( day or 2 or 3)

1) Immediate long opportunity for a few pips
2) a few more bars down first, before an almost direct return to this area - I will add longs as we drop. Since it is 4hr chart - probably every 10 to 15 pips - a new entry with larger lot size
3) a few more bars down first with a slow turn - almost like a U shape. Here - I will also build a long position with multiple entries.

I'm testing theory here. Let us see..
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