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Plan the Trade

  • #6,481
  • Jun 15, 2018 9:42am Jun 15, 2018 9:42am
Actually made a hash of the current drop, as i had earmarked 7280 for the turn, (much easier to see on bigger scale), decided to wait for a smaller 123, trigger and retrace and it never came. Should have just taken the plunge, anyway, that will do for todays dreamo session!)

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  • #6,482
  • Jun 15, 2018 9:47am Jun 15, 2018 9:47am
Here's what i mean about bigger scale making it easier to see likely levels for reversals- (I'm spreadbetting at the mo, so taking the odd trade when it looks good for a bigger move), anyway;

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  • #6,483
  • Jun 15, 2018 10:02am Jun 15, 2018 10:02am
In case anyone's interested, i switched to Live on Monday, took a silly first trade for -7, then hesitated on a far better set-up... that moment of contemplation, was enough to miss a nice winner which would more than have made up for the earlier error.

I switched back to demo! and that is exactly the point, you have to be ready to tackle it all, for the whole session and see what you end up with.

Anyway, i'm gearing up to do just that, but i'm not giving myself a deadline just yet!

The spreadbetting is a way to be able to increase risk gradually...
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  • #6,484
  • Jun 15, 2018 10:42am Jun 15, 2018 10:42am
Quoting The Cableguy
In case anyone's interested, i switched to Live on Monday, took a silly first trade for -7, then hesitated on a far better set-up... that moment of contemplation, was enough to miss a nice winner which would more than have made up for the earlier error. I switched back to demo! and that is exactly the point, you have to be ready to tackle it all, for the whole session and see what you end up with. Anyway, i'm gearing up to do just that, but i'm not giving myself a deadline just yet! The spreadbetting is a way to be able to increase risk gradually...
Good effort CG. I am interested to see if you experienced more slippage than in demo? Roughly 50% of my trades (exits not entries) slipped by 1 sometimes 2 ticks, all adds up..

I beleive but cannot say for sure the H's limit offset is set to 0 as i've seem his stops not being taken out until price revisits the level. A bit risky for a mere mortal like myself.
  • #6,485
  • Jun 15, 2018 11:13am Jun 15, 2018 11:13am
Quoting Ozz
{quote} Good effort CG. I am interested to see if you experienced more slippage than in demo? Roughly 50% of my trades (exits not entries) slipped by 1 sometimes 2 ticks, all adds up.. I beleive but cannot say for sure the H's limit offset is set to 0 as i've seem his stops not being taken out until price revisits the level. A bit risky for a mere mortal like myself.

I will post this again, cos not a lot of people realise that there is indeed a spread with the Futures quotes. It usually only spans the single tick and is either to the buy side or sell side.

Have a look at the green and red markers in different levels in each screen shot below, however, note that the quoted price is exactly the same. This is why you do not always get filled on your limit order when tapped, it is almost like having half ticks;

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I keep them on my chart and when the volume is large, (as it has been many times recently), it sometimes opens momentarily to a full 2 ticks... that's when you will likely experience slippage.
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  • #6,486
  • Jun 15, 2018 11:26am Jun 15, 2018 11:26am
Quoting The Cableguy
{quote} I will post this again, cos not a lot of people realise that there is indeed a spread with the Futures quotes. It usually only spans the single tick and is either to the buy side or sell side. Have a look at the green and red markers in different levels in each screen shot below, however, note that the quoted price is exactly the same. This is why you do not always get filled on your limit order when tapped, it is almost like having half ticks; {image} I keep them on my chart and when the volume is large, (as it has been many times recently),...
Limit entries sit on the order book and will fill if there are enough traders hitting the level. The order or preference for limit entry might be fist come first served but i heard that this could be wrong and preference is given to the size of the order. Limit exits are however not limit orders in the true sense, rather they turn to market orders when the price level is struck, this is where the slippage comes from and the limit offset setting you can choose. It was annoying to see this when trading live as the sim doesn't pick it up.
I was just curious if you had experienced this phenomenon whilst trading live...
  • #6,487
  • Jun 15, 2018 2:38pm Jun 15, 2018 2:38pm
Quoting The Cableguy
In case anyone's interested, i switched to Live on Monday, took a silly first trade for -7, then hesitated on a far better set-up... that moment of contemplation, was enough to miss a nice winner which would more than have made up for the earlier error. I switched back to demo! and that is exactly the point, you have to be ready to tackle it all, for the whole session and see what you end up with. Anyway, i'm gearing up to do just that, but i'm not giving myself a deadline just yet! The spreadbetting is a way to be able to increase risk gradually...
Same strategy I adopted with dax. Trouble is it doesn't move the same and there is the danger of trading for the sake of it. Having said that you are right that the risk is lower.
'in less than half an hour he made over 100 ticks'
  • #6,488
  • Jun 15, 2018 3:31pm Jun 15, 2018 3:31pm
another tough day .. couple of trades came in just past 1030:

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Become the casino
  • #6,489
  • Jun 17, 2018 8:17pm Jun 17, 2018 8:17pm
Happy Father's Day guys.
  • #6,490
  • Jun 18, 2018 10:06am Jun 18, 2018 10:06am
Have missed a cracking trade for Spreadbet earlier. Entry would have been not long after open and i've only just logged in.

It involves EW, but for those of you that are interested, here's a couple of charts;

Firstly on big scale;

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So, i'm thinking the pullback since late Thursday including the huge drop on Sunday night was merely corrective and we will head to new highs. The caveat would be if the current rise being printed is an X wave and the correction becomes bigger, with further falls, but it really looks like a simple ABC to me.

Wave B makes a nice pennant and wave C must always be in 5w... Well, look at the labeling below - the 3rd wave is easy to see and best of all, we tie the two systems together and the pullback comes very close to the previous Extreme (low) from Wednesday, so you have EW and pullback to prior Demand, for a low risk entry and probably worth holding for new highs;

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Hey ho, i missed it - that'll teach me to be elsewhere at open!)
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  • #6,491
  • Edited 11:05am Jun 18, 2018 10:25am | Edited 11:05am
I am back on MT4 1 minute charts until I open my Infinity acc ... tried to be VERY patient and look only for good trend pullbacks ... missed one or two good entries by n tick and got one BE ... patience, patience, patience ...

ps. The spread on MT4 is a bit wide so tomorrow I am going to factor that in ... put my entry at rejection bar plus spread .... missed too many good entires today by only a fraction ...
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Never give up !!!
  • #6,492
  • Jun 19, 2018 9:38am Jun 19, 2018 9:38am
Thank you guys for posting your charts.
  • #6,493
  • Jun 19, 2018 3:25pm Jun 19, 2018 3:25pm
I should have rocked today on the 1 minute (M1) chart ... there was at least 2 or 3 full profit setups ... instead I had one BE trade ... for some reason I had difficulty in pulling the trigger ... I see the setup develop and then just stall until it is too late ... the M1 is slow (compared to the 133 tick chart) so I am doing something else as well and just keeping one eye on the charts ... perhaps that is the problem ... well, at least I see the setups develop ... the practice help with that at least.
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Never give up !!!
  • #6,494
  • Jun 19, 2018 3:57pm Jun 19, 2018 3:57pm
Quoting theunis
I should have rocked today on the 1 minute (M1) chart ... there was at least 2 or 3 full profit setups ... instead I had one BE trade ... for some reason I had difficulty in pulling the trigger ... I see the setup develop and then just stall until it is too late ... the M1 is slow (compared to the 133 tick chart) so I am doing something else as well and just keeping one eye on the charts ... perhaps that is the problem ... well, at least I see the setups develop ... the practice help with that at least. {image}
I can relate to all of that, just keep practicing... practice, practice, practice...
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  • #6,495
  • Jun 19, 2018 10:44pm Jun 19, 2018 10:44pm
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  • #6,496
  • Jun 20, 2018 4:31am Jun 20, 2018 4:31am
I practiced on the Dax this morning ... had a good run until I violated my own time rule ... I only trade when there is good volume ... from 10am to 12pm (my broker time) ... on the chart it is easy to see how the volume goes down during the session ... I was at + 8.4 pips when a trade opportunity came just before the close of the session (for me), I knew it was too late in the session but took it anyway and it wiped out .... ai ja jaai .... during the session I only missed 2 opportunities and 1 did not engage ... better than yesterday :-)
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Never give up !!!
  • #6,497
  • Jun 20, 2018 9:35am Jun 20, 2018 9:35am
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  • #6,498
  • Jun 21, 2018 7:13am Jun 21, 2018 7:13am
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  • #6,499
  • Jun 21, 2018 8:03am Jun 21, 2018 8:03am
Quoting thomi
{image}{image}
Its very interesting thomi
  • #6,500
  • Jun 21, 2018 9:12am Jun 21, 2018 9:12am
That run down from about 9:59 reminds me of some of H's old videos when he would get in and let it run awhile and then just manually chase it with the SL . . . . Just a really nice drift south. Lol
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