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PTL Goes Daily

  • #1
  • First Post: Edited Apr 4, 2018 9:28am Mar 28, 2018 1:47am | Edited Apr 4, 2018 9:28am
Starting to make the transition to trading off the daily, the time has come. Have tired of the intraday crap and am liking spending less time in front of the screen. Not to mention these damn screens have blinded me. Less is more, I've been saying it for years, now actually starting to see that its true, at least for me.

Anyway, this is a spot to post your daily levels, ideas, observations. I know people post them elsewhere, but you have to sift through a gazillion short term charts most times.

By no means do I suggest, or subscribe to the idea that trading off the daily is better than any other time frame. Nor do I scoff at those who chose to trade short term. The daily is just as big a pain in the ass. Just that there are less trades to get involved in, and that, for the moment makes me happy.

So, lets keep it simple. Daily charts, ONLY.(Weekly and Monthly appreciated also) A couple of spots your looking at, or considering doing something, and that's it. No need for all the gory details. No need to follow up on what the hell you did, or didn't.
Look Sharp/Trade Tight
  • #2
  • Mar 28, 2018 1:48am Mar 28, 2018 1:48am
looking at shorts in UJ near 106.40...
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Look Sharp/Trade Tight
  • #3
  • Mar 28, 2018 1:55am Mar 28, 2018 1:55am
also looking at shorts in GJ around 150.80, for a chance at 147.80.....


nothing else near by for now, end of the month soon, and I have a few trades to baby sit already....back later...
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Look Sharp/Trade Tight
  • #4
  • Mar 28, 2018 2:42am Mar 28, 2018 2:42am
one more I'm considering for today, missed it earlier...been a strong market, flagish against the old highs..1.3340 the only support in sight worth a flyer me thinks....outrights look decent too...
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  • #5
  • Mar 28, 2018 4:13am Mar 28, 2018 4:13am
2 patterns of market behaviour happen ona regular basis:
a) price will either breakout of the high, low or both of previous bar
b) price will not breakout of the previous bar
that's the TA reason whay i'm sorthing my country currency.
the fundamental reason is that british economy is better than my country economy and i have a FEALING even from 3 years from now this trend will persist

the catalist that made me took the trade: after almost 3 years i;m back in romania and i just see with my own eyes the corruption and other bad things, it;s a very poor country
(some time ago used to be a lot of whores in my town but now they are gone in different countryes because there are very fee guys that can afford them)
some time ago buying high ranking politicians was like 150k-1 million euros, now with 1 million u can buy 3 or more politicians
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Price itself it's an indicator
  • #6
  • Mar 28, 2018 5:08am Mar 28, 2018 5:08am
Quoting m3rlin
2 patterns of market behaviour happen ona regular basis: a) price will either breakout of the high, low or both of previous bar b) price will not breakout of the previous bar that's the TA reason whay i'm sorthing my country currency. the fundamental reason is that british economy is better than my country economy and i have a FEALING even from 3 years from now this trend will persist the catalist that made me took the trade: after almost 3 years i;m back in romania and i just see with my own eyes the corruption and other bad things, it;s a very...
interesting story...tough trade, betting against your countries currency, but kind of like a hedge....difficult chart to read....good luck...
Look Sharp/Trade Tight
  • #7
  • Mar 28, 2018 5:20am Mar 28, 2018 5:20am
post some ideas people, post some charts...its free....
Look Sharp/Trade Tight
  • #8
  • Mar 28, 2018 8:37am Mar 28, 2018 8:37am
Quoting PayTheLimit
post some ideas people, post some charts...its free....
most of retail traders are trading intraday (they belif in the illusion of small risk, but the reverse is true) if they will do proper research they will find out that some patterns on 1h charts will have same volatility on daily charts.

from time to time i will make some counter trend bets (maybe i take 3 to 7,8 trades per year like that) but risking less than when i'm following trends.
on this tipes of bets i'm willing to go only Long on USD and shorting some whortless currecncies, or going lond in commodities markets (corn, sugar, copper eg.)

but even like that, it;s not that i'm going long at the low (the market it's bearish, nobody can pick the exact bottom/top and markets can stay irrational more than i can stay solvent) i'm going long when the percived short term trend it's bullsih (you see, even trading counter-trends in fact, at the very basic of trading you are doing trend trading).
this is how i'm doing it: after an extensive bearish trend i will look for 3 consecutive bearsih days (or u can look for only 2 consecutive bearish days) the last 2 bearish days in the setup shoul be also the lowes bars in 20 respectivly 21 days, if next day price is breacking the highs of the last 2 candles i'm going long.(if not i just ignore the setup)
the exit is tricky
p.s. from time to time i will go long also CHF (yes the swiss because even dirty money from drug trafficking to human trafficking are flying to that country)
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Price itself it's an indicator
  • #9
  • Mar 28, 2018 8:47am Mar 28, 2018 8:47am
Quoting m3rlin
{quote} most of retail traders ar trading intraday (they belif in the illusion of small risk, but the reverse is true) if they will do proper research they will find out that some patterns on 1h charts will have same volatility on daily charts. from time to time i will make some counter trend bets (maybe i take 3 to 7,8 trades per year like that) but risking less than when i'm following trends. on this tipes of bets i'm willing to go only Long on USD and shorting some whortless currecncies, or going lond in commodities markets (corn, sugar, copper...
Like I said, I've traded short term for a long time. I have nothing against it, how could I, I made my living on it for decades. But now I'm interested in spending less time at my desk.

I should also say that whilst I'm transitioning to daily levels, and set ups, I will be looking to exit trades, at profits or losses quickly. I'm not just going to sit in stuff, well at least not my whole line, for ever.

And yes, exits are always tricky. Getting in is easy by comparison I'd say.

Interesting method there, looking for the over stretched market.
Look Sharp/Trade Tight
  • #10
  • Mar 28, 2018 8:50am Mar 28, 2018 8:50am
speaking of the swissy, some R about a handle away....will be considering it...
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  • #11
  • Mar 28, 2018 9:00am Mar 28, 2018 9:00am
Quoting PayTheLimit
post some ideas people, post some charts...its free....

PT (f'n) L!!

On the daily...

Looking at AUDUSD.

Not much into buying as of yet, but definitely keeping the eyes on it and have stopped my EAs from selling into it...

Thoughts?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #12
  • Mar 28, 2018 9:09am Mar 28, 2018 9:09am
Quoting Magix
{quote} PT (f'n) L!! On the daily... Looking at AUDUSD. Not much into buying as of yet, but definitely keeping the eyes on it and have stopped my EAs from selling into it... Thoughts? {image}

Add in a weekly perspective...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13
  • Mar 28, 2018 9:12am Mar 28, 2018 9:12am
Quoting Magix
{quote} PT (f'n) L!! On the daily... Looking at AUDUSD. Not much into buying as of yet, but definitely keeping the eyes on it and have stopped my EAs from selling into it... Thoughts? {image}

dude, whats up man...saw ya around the other day, I should have said "hi"...hope you've been well, still looking to buy a table at Denny's.....

AUD, looks crapish....sees some S near 7640 which might be worth a flyer, but we take that out, and I got nothing for a while, wouldn't mind selling a rally....
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  • #14
  • Mar 28, 2018 9:19am Mar 28, 2018 9:19am
PS on the AUD, looked a little further back, saw an old R turned S, makes the vicinity a little more attractive....still only a handle, handle and a half till some important R, kind of cramps my style....
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  • #15
  • Mar 28, 2018 9:19am Mar 28, 2018 9:19am
Quoting PayTheLimit
{quote} dude, whats up man...saw ya around the other day, I should have said "hi"...hope you've been well, still looking to buy a table at Denny's..... AUD, looks crapish....sees some S near 7640 which might be worth a flyer, but we take that out, and I got nothing for a while, wouldn't mind selling a rally.... {image}
Even seen OldQuant poking in a comment!

Now...where's KenFen?

Getting there on the Denny's angle...got some pocket cash coming from consistency on a couple of the EAs now...

Last 30 days - 7 pairs.

Not huge, but on a few accounts...will definitely cover a GrandSlam!

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #16
  • Mar 28, 2018 9:23am Mar 28, 2018 9:23am
Quoting Magix
{quote} Even seen OldQuant poking in a comment! Now...where's KenFen? Getting there on the Denny's angle...got some pocket cash coming from consistency on a couple of the EAs now... Last 30 days - 7 pairs. Not huge, but on a few accounts...will definitely cover a GrandSlam! {image}

nice, keep it up, I'll be calling you......

yea saw OQ too, missed him by a few hours....

Kenny has been MIA for a coons age....

good to see ya man, stop by from time to time....catch ya later amigo....gots to run....PTL...
Look Sharp/Trade Tight
  • #17
  • Mar 28, 2018 9:24am Mar 28, 2018 9:24am
Quoting PayTheLimit
PS on the AUD, looked a little further back, saw an old R turned S, makes the vicinity a little more attractive....still only a handle, handle and a half till some important R, kind of cramps my style.... {image}
Does seem to correlate to the GBPAUD S/R zones as well...

Not buying this one right now either...

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Made a few sheckles on skorties yesterday though...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #18
  • Mar 28, 2018 9:28am Mar 28, 2018 9:28am
Quoting PayTheLimit
speaking of the swissy, some R about a handle away....will be considering it... {image}
yes, nice setup. i will go long only if price will break that high today. (in another account i'm short usd/chf will be like a hedge but if the long will fail i will double my short position if i will find some setups or catalist for doing so)

in times like this, with the pressent world economy, that spy in uk, the problems in syria,ukraine, iran, saudi arabia (problems that they have inside the country, oil prices, buying weapons from russia) and the coup in turkey and turkey a nato member buying weapons also from russia, trade wars and taxes betewn us, eu, china an everyone, china starting trading the petroyuan, US trying to persecute a bank from UE and also an nato memeber.

peoples are rushing to parck money in safe places, in uncertain times safe places are US and Swiss (and in a small part Singapore)
this will be nice to watch, how the money will vote.
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Price itself it's an indicator
  • #19
  • Mar 28, 2018 10:41am Mar 28, 2018 10:41am
i'm also long cocoa 12 contracts, just because price is goin up
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Price itself it's an indicator
  • #20
  • Mar 28, 2018 11:33am Mar 28, 2018 11:33am
us treasury notes, long (price broke trouch upper line of std channel), but i don't have a good feling about this one.
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Price itself it's an indicator
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