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Trading is as simple as 1-2-3

  • #5,621
  • Jan 12, 2018 8:15am Jan 12, 2018 8:15am
Quoting wannalearn12
Short UJ - Changed TP settings to 90% off at +5 and BE. Stops at BE and partial profits are taken. Let's go
Second Target Hit Nice and easy !
  • #5,622
  • Jan 12, 2018 10:13am Jan 12, 2018 10:13am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow1.png Size: 58 KB


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,623
  • Jan 14, 2018 2:12pm Jan 14, 2018 2:12pm
Quoting hal7
{image} Short EJ +5 locked It's Friday...
u dont open trades any before or in time of news right?
Investing is SIMPLE but NOT EASY
  • #5,624
  • Jan 14, 2018 4:09pm Jan 14, 2018 4:09pm
Quoting Moly_Cam5
{quote} u dont open trades any before or in time of news right?
It really depends on how I feel about it, I like to be flexible. I generally steer clear of news until it has a chance to react. But I have been in trades a short length of time before news release (ususally early London) and fortune gives me the right side of it and it hits a home run.
  • #5,625
  • Jan 15, 2018 1:34am Jan 15, 2018 1:34am
Quoting Moly_Cam5
{quote} u dont open trades any before or in time of news right?
If you are not already in a trade, then news will make no difference other than the probable increased spread (though this can be significant and may still make it worth sitting things out). We are trading a line, so what makes price move over that line makes no difference.

However, if we are already in a trade, that's a concern, as a major change in direction against us with that additional increased spread can be a killer. Getting into a trade at this time is usually no real problem - getting out when you want or need to - well that's another matter, lol.
  • #5,626
  • Jan 15, 2018 2:17am Jan 15, 2018 2:17am
lem,

do you have any experience with AUS200 and HK50, they would presumably be more relevant to us here down under?

I presume that indices only move when the respective stockmarkets are open.

Maybe US30 and US500 in the US afternoon (our morning)?
  • #5,627
  • Jan 15, 2018 2:39am Jan 15, 2018 2:39am
Quoting ikdenk
lem, do you have any experience with AUS200 and HK50, they would presumably be more relevant to us here down under? I presume that indices only move when the respective stockmarkets are open. Maybe US30 and US500 in the US afternoon (our morning)?
The Indices are an absolute goldmine c/w 1-2-3. I have my ''Weird Bunch'' of US30, US500 (S&P), DAX (Ger30), F40 (CAC) and UK100 (FTSE).

Some brokers' desks (Spread Bet Brokers specifically) will often remain open out of hours to a certain extent but the spreads will double (at least) and although I used to trade The DAX pre-Open, it's not something I do much any more (if at all) for that reason.

I don't trade the AUS200 or HK50 but only for those reasons - I see no reason as to why they wouldn't work as well as mine (and as I said, they really work, lol).
  • #5,628
  • Jan 15, 2018 3:50am Jan 15, 2018 3:50am
Quoting lemercenaire
{quote} The Indices are an absolute goldmine c/w 1-2-3. I have my ''Weird Bunch'' of US30, US500 (S&P), DAX (Ger30), F40 (CAC) and UK100 (FTSE). Some brokers' desks (Spread Bet Brokers specifically) will often remain open out of hours to a certain extent but the spreads will double (at least) and although I used to trade The DAX pre-Open, it's not something I do much any more (if at all) for that reason. I don't trade the AUS200 or HK50 but only for those reasons - I see no reason as to why they wouldn't work as well as mine (and as I said, they...
I will have to get used to the weird pip values.

Also many MT4 indicators don't seem to work properly, for example my spread indicator. Which one do you use, please?
  • #5,629
  • Jan 15, 2018 12:25pm Jan 15, 2018 12:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow1.png Size: 57 KB


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,630
  • Jan 15, 2018 1:09pm Jan 15, 2018 1:09pm
Quoting ikdenk
{quote} I will have to get used to the weird pip values. Also many MT4 indicators don't seem to work properly, for example my spread indicator. Which one do you use, please?
Sorry, been busy on non-trading stuff after this morning's DAX action. Apologies for the delay in answering.

Anyway, yes, the pip-values should definitely be kept in mind! You certainly get a whole lot of bang-for-your-buck but by the same account, if it goes against you, you'd better be ready with a way to deal with that negative.

It is also true that the mt4 indis more often than not don't work. Some you can adjust the values to give you what you need but mostly not. This isn't an issue for me, as I mostly trade the indices on my broker's web-based platform and so don't need the mt4 version.

For something like the spread indicator, you could try simply activating the One-Touch-Trading button on an mt4 chart / broker and that will give you the Bid and Ask price (as below).

Attached Image (click to enlarge)
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As an aside - that was a cracking 1-2-3 I missed here this afternoon!
  • #5,631
  • Jan 15, 2018 1:49pm Jan 15, 2018 1:49pm
Quoting lemercenaire
{quote} Sorry, been busy on non-trading stuff after this morning's DAX action. Apologies for the delay in answering. Anyway, yes, the pip-values should definitely be kept in mind! You certainly get a whole lot of bang-for-your-buck but by the same account, if it goes against you, you'd better be ready with a way to deal with that negative. It is also true that the mt4 indis more often than not don't work. Some you can adjust the values to give you what you need but mostly not. This isn't an issue for me, as I mostly trade the indices on my broker's...
Thanks for your response, much appreciated.

Have been using Marketwatch to show the spread, but some indices on my broker seem to have a somewhat fixed spread.

In the mean time I have also found JPN225 and FRA40 that you also use.

Now buzy translating my broker's indices market hours to my timezone.
  • #5,632
  • Jan 15, 2018 4:16pm Jan 15, 2018 4:16pm
Quoting ikdenk
{quote} Thanks for your response, much appreciated. Have been using Marketwatch to show the spread, but some indices on my broker seem to have a somewhat fixed spread. In the mean time I have also found JPN225 and FRA40 that you also use. Now buzy translating my broker's indices market hours to my timezone.
You will find that the indices are suited well to 1-2-3 because of the way the tend to Top-and-Tail the day and how much movement you will get in one individual bar. especially around the Opens.

If you are running them live however, please be careful - they bite!
  • #5,633
  • Jan 16, 2018 3:01am Jan 16, 2018 3:01am
Had a set-up on The DAX this morning...

Attached Image (click to enlarge)
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That was a good bit away from the change of the hour, however, so I didn't wait and took a HAL-Special entry on the drop out of the Supply Zone...

Attached Image (click to enlarge)
Click to Enlarge Name: Inked.DE30.H1didn'twaittookthedrop16thJan18_LI.jpg Size: 295 KB
  • #5,634
  • Jan 16, 2018 3:18am Jan 16, 2018 3:18am
Quoting lemercenaire
Had a set-up on The DAX this morning... {image} That was a good bit away from the change of the hour, however, so I didn't wait and took a HAL-Special entry on the drop out of the Supply Zone... {image}
Have you notited how similar the moves are on GER30 and FRA40?
  • #5,635
  • Jan 16, 2018 4:28am Jan 16, 2018 4:28am
Quoting lemercenaire
Had a set-up on The DAX this morning... {image} That was a good bit away from the change of the hour, however, so I didn't wait and took a HAL-Special entry on the drop out of the Supply Zone... {image}
Some traders just have no patience.....................................................................................................
  • #5,636
  • Edited 4:41am Jan 16, 2018 4:30am | Edited 4:41am
Attached Image (click to enlarge)
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Took this CF short on same bar +5 locked And that was short lived. Chalk one up for the smash and grab, stop was set to BE.
  • #5,637
  • Edited 6:25am Jan 16, 2018 5:41am | Edited 6:25am
Attached Image (click to enlarge)
Click to Enlarge Name: 11618eu.png Size: 17 KB

Long EU +5 locked Moved my stop to BE and promptly got stopped, then it moved to +20. But it works both ways. Sometimes I have not moved my stop and took a loss. But I have found my bigger runs come from not moving it.
  • #5,638
  • Edited 9:16am Jan 16, 2018 8:49am | Edited 9:16am
Attached Image (click to enlarge)
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Been waiting on the GJ long a while, had a longer stop but adjusted accordingly to trade size 1%. +7 stop to BE
+10, trailer on
  • #5,639
  • Jan 16, 2018 10:43am Jan 16, 2018 10:43am
Quoting ikdenk
{quote} Have you notited how similar the moves are on GER30 and FRA40?
Yes, the F40 mirrors The DAX.

I have occasionally used any divergence as an entry mechanism and also if one misses the DAX move, it is sometimes possible to catch it on the F40.
  • #5,640
  • Jan 16, 2018 10:44am Jan 16, 2018 10:44am
Quoting lemercenaire
{quote} Yes, the F40 mirrors The DAX. I have occasionally used any divergence as an entry mechanism and also if one misses the DAX move, it is sometimes possible to catch it on the F40.
You can also see the same sort of thing with the US500 and US30, though this is perhaps not as surprising.
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