Plan the Trade

that was a tough one to take but you put money in bank and that's all that matters

Thrust bars H

I know but there was quite a time delay nevertheless winner

Wouldn't have taken that with real cash..

wow what was that big order put on

I am using S/D for both entries and exits where possible)

It can give a little more confidence when you are wondering whether to trust a set-up back into trend or not - eg;

Here there were a couple of flag trades, which required selling the trigger - something i don't usually like to do (i prefer trigger, pullback to reduce risk), but looking at the bigger picture, there was clear 'blue sky' to the left. Ok, it's not a gaurantee, but as i say, it might just give a little more confidence to expect the move to have legs;

Just opened my charts a moment ago and whilst getting up to speed, i couldn't help notice the reactions off of various alerts that i had set. The problem is that most of them get hit overnight which is no good to man nor beast!

Incredible though that if you concentrate on the main turning points, they seldom let you down;

GJ; the black lines were the alerts set and basically become profile lines;

Should have taken the +20 on second last trade instead of being greedy.

Came out on top with some bad trades

It has to be said that looking at the bigger picture regarding FX pairs, seems to be far more obvious.

The same pair (GJ) again, on a slower scale;



Using flag breaks, 123, trigger and retraces and target prior obvious Demand levels, even reversing at such zones, this one chart alone should have given up 200 pips this week.

Ok, it's never as easy in real time, but that is my point. The bigger scale cuts out a lot of noise. This will be my plan for the next month and i will see how it goes. Targets being met during the night is the biggest hurdle. I am targeting 200 pips a week, (40/day), so by looking for the most obvious and strongest S/D levels, it might be easier.

I'm finding that going to small scales means not running positions long enough. One minute a 2B break works, the next it doesn't. One minute a flag break works, the next it doesn't etc.... none of which is a problem if you are bagging 40 pips+ from a winner and losing 10/12 inc spread on a loser, but with smaller scales, it is more like evens, so you need to have a better winning percentage instead. Even with watching 8 charts, sometimes you can be watching for ages and not find a really decent set-up, so you start taking less desirable trades to justify your time at the screen and that's where it all starts to go wrong.

I recorded today's session give me a few and I will upload it here

That last bullish climb on nq from 10:25 was something

that's enough for me +23

todays live trading

+ 36 Dow

CG I want to thank you for turning me on to 133 tick chart it is freaking awesome it shows supply and demand bars it gets me in at a better price and getting 20 with 3 contracts seems to be a breeze

Ha! You're welcome H)

It seemed to me that everything being fractal, why wait? Sierra charts and contracts measured in ticks means that small scales work really well.

What i am finding, however, is with FX and Spreadbets, the opposite is true. The larger picture is req'd to counter the spreads and lethargy of movement.

I will percevere with my current direction, cos i've proved too many times that i lose my fluidity when i switch to Live trades on Futures.

I need to build up and the only way for me to do that, is put the hours in watching FX pairs. It works, just need a little adjustment from the pace of the NQ!

The holy grail still remains for me to trade the NQ live with contracts on 133 tick at some stage in the future.

Here is a typical nice trade on the UJ;



The good ole 123, trigger pullback with target above of prior Supply. Tiny risk and enough meat on the bone to make it worthwhile including spreads!

I view trading very differently now to that of 12/18 months ago. A lot of the time the 123 trigger will turn out to be part of a bigger correction and fail. Those failed trades used to affect me, but now, i just view it as well worth the risk cos the winners will bank 4 times the risk.

I guess that is from so many years of trading flag triggers or fresh highs on C&H set-ups that would see a much larger risk (typically 1:1 and thus a larger psychological effect when losing. Now, a loser is just that - a loser, but keep putting them on...