(binned per thread starter's request) trader umr - Systems | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Top 100 best Trading Systems: post good Trading Systems here 62 replies

Are the best systems also the systems that fail most spectacularly? 55 replies

multiple systems per pair/multiple pairs per system? 3 replies

Systems, Systems and Systems... 1 reply

Attachments: (binned per thread starter's request) trader umr - Systems
Exit Attachments

(binned per thread starter's request) trader umr - Systems

  • #1
  • First Post: Edited 1:55am Sep 9, 2018 1:28am | Edited 1:55am
Back to the forexfactory after a while.

Since last 2-3 years, I have become a much more wholesome trader.
And I just wanted to share how I trade with wider community.
This might end up helping other traders, while keeping me accountable and focused at the same time.

Will update this first post later once I get some time do more writing, but till then will post whatever I have handy in this thread.

Better to just get started rather than postponing and delaying this thread.

Let's get started.

(Edit: By the way, I changed my username to a much more sane one. Thanks @Twee for helping me with that)
@trader_umr
  • #2
  • Sep 9, 2018 1:41am Sep 9, 2018 1:41am
Trading around News/Data releases is still about 1/3rd of my trades in any week, but I do enjoy volatility and there is solid edge for those who put in the hard work.
Plus due to persistent effort, I have been able to build a system around trading these which works well and I would be sharing this soon enough (Hopefully in next 1 week.)

I find forexfactory's calendar to be a bit selective, hence I use a few others to make sure I see everything and don't miss anything.

Attached image shows what I have prepared for this week on calendar front. The events I will be looking at and it also mentions those events which I consider are particularly trade worthy. They are not necessarily only red/orange events as calendars don't cater to real time market sentiment, rather they focus on historical volatility an event generated.

From top of my head, one such example can be wage data. Wage data has been historically unimportant, however in last one year it is proper tier-1 data for AUD, yet most calendars won't mark the event as such.

Attached Image (click to enlarge)
Click to Enlarge Name: tt.PNG Size: 439 KB


(Please let me know if you have any feedback, normally above format is good enough for me, but if changing format a bit, or adding/deleting things will help wider community, I will be happy to do that)
@trader_umr
  • #3
  • Edited 6:36pm Sep 9, 2018 6:11pm | Edited 6:36pm
There are few things which can happen at a news event.

I will share briefly here and then write more details and come back with more content later on.

Ok, so either this new info reconfigured the value of the instrument or not.

If it did really provide a new information, you can either Follow it (follow the direction price is moving), Fade it (if initial moves is against what you think value of the currency is), scalp it (risky, only for small account where absolute loss will remain low, not really recommended, usually happens when new/data release is conflicted), and Fade on overshoot (when price has moved in the direction it should, but has now overshoot due to momentum and now will come back through eventual pull back).

Then each tradeable event, gets its own working. In detail, I check the whole context of market and pre-plan what I am going to do. Lately I do it by hand quickly ... just jotting down the notes on paper … but I use to create a whole plan like the image shows below, and perhaps I can do the same again if it will help you guys.

[a more detailed answer will be available when I stop being lazy and actually get the writing done]

Pre-plan for news event:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 201 KB
@trader_umr
  • #4
  • Sep 10, 2018 3:01am Sep 10, 2018 3:01am
My trading plan for #GBPUSD GDP, Industrial Productions release.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 155 KB
@trader_umr
  • #5
  • Sep 10, 2018 5:19am Sep 10, 2018 5:19am
Quoting traderumr
My trading plan for #GBPUSD GDP, Industrial Productions release. {image}
Results:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 163 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 47 KB
@trader_umr
  • #6
  • Sep 11, 2018 1:08am Sep 11, 2018 1:08am
My trading plan for #GBPUSD Earnings and Unemployment data releases.

Attached Image (click to enlarge)
Click to Enlarge Name: GU-2.PNG Size: 342 KB
@trader_umr
  • #7
  • Sep 11, 2018 1:24am Sep 11, 2018 1:24am
Sub's. Nice fine analysis you doing. awesome
  • #8
  • Sep 11, 2018 5:31am Sep 11, 2018 5:31am
Quoting traderumr
My trading plan for #GBPUSD Earnings and Unemployment data releases. {image}
Here is the post mortem analysis:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 237 KB
@trader_umr
  • #9
  • Sep 12, 2018 6:04pm Sep 12, 2018 6:04pm
My trading plan for AUDUSD [Employment data releases].

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 458 KB
@trader_umr
  • #10
  • Sep 13, 2018 4:35am Sep 13, 2018 4:35am
+1.17% on $AUDUSD (https://twitter.com/search?q=%24AUDUSD&src=ctag) Employment Figures.

Attached Image (click to enlarge)
Click to Enlarge Name: 2018-09-13_18-27-53.png Size: 277 KB
@trader_umr
  • #11
  • Sep 13, 2018 6:19am Sep 13, 2018 6:19am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 14 KB


Length doesn't count.
@trader_umr
  • #12
  • Sep 13, 2018 9:23am Sep 13, 2018 9:23am
It is a blessing and a curse.
Scratch that...….!
It is #BLESSING

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 711 KB
@trader_umr
  • #13
  • Sep 14, 2018 2:30am Sep 14, 2018 2:30am
Quoting traderumr
There are few things which can happen at a news event. I will share briefly here and then write more details and come back with more content later on. Ok, so either this new info reconfigured the value of the instrument or not. If it did really provide a new information, you can either Follow it (follow the direction price is moving), Fade it (if initial moves is against what you think value of the currency is), scalp it (risky, only for small account where absolute loss will remain low, not really recommended, usually happens when new/data release...
finally, fundamental thread topic. Nice!
Profit growth tells you the trader ability.
  • #14
  • Sep 14, 2018 5:51am Sep 14, 2018 5:51am
$EURUSD - USD Retail Sales Release Trading Plan

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 515 KB
@trader_umr
  • #15
  • Sep 14, 2018 8:36am Sep 14, 2018 8:36am
Quoting traderumr
$EURUSD - USD Retail Sales Release Trading Plan {image}
Result:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB


As always, in real time plan required some tweaking, but because I had done the home work and new the landscape I was able to trade accordingly.

Actually, since I have started posting here, we have not yet seen any true big winner. They don't happen every day, but you do get to see 1 truly monstrous win in 2 months or so. So lets hang tight and keep trading to best of our ability

This weekend, I plan to do some writing done and am targeting to update the first post with more details about the theory of how I trade.
@trader_umr
  • #16
  • Sep 16, 2018 5:53pm Sep 16, 2018 5:53pm
Week 28 Trading Preparations and Calendar view:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 245 KB
@trader_umr
  • #17
  • Sep 23, 2018 3:57am Sep 23, 2018 3:57am
Week 29 Prep sheet attached.

I can see that there are tons of releases next week. We should see above average volatility and be able to generates multiple trade ideas.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 493 KB
@trader_umr
  • #18
  • Sep 23, 2018 4:57am Sep 23, 2018 4:57am
Question I was asked about this prep sheet on reddit:

Inserted Code
Looks great. But how is this a prep sheet, am I missing something? You’ve just redesigned a forex calendar?

My answer:

Inserted Code
Thanks. Good question.
It is an exercise to be aware of and kinda memorize all the known events of next week. Transferring events to my format help me with this a lot.
For example, even though we don't have any thing big on USD front for first 3 days, but I know how by late Tuesday FOMC theme is likely to gain traction, we will see *flows* because of it.
Plus this helps me know all the tradable events. I will now create more detailed plans for the ones which I deem are tradable (but that can't be done until 1-2 hr before the release).
Markets...
@trader_umr
  • #19
  • Last Post: Sep 25, 2018 8:24am Sep 25, 2018 8:24am
Today was one of my best days in long time. But this day ends here for me.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 49 KB
@trader_umr
0 traders viewing now