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Trading is as simple as 1-2-3

  • #7,041
  • Sep 17, 2018 10:44am Sep 17, 2018 10:44am
Quoting hal7
{quote} I run the Turn trade off 4 hr bars and get some pretty good runs going at times.
Maybe invoking a possible law of averages thing- that once a bar changes from a run of greens to a red bar ( for example) then the next bar will also be red ?
every Saint has a past. Every Sinner has a Future
  • #7,042
  • Sep 18, 2018 5:30am Sep 18, 2018 5:30am
Attached Image (click to enlarge)
Click to Enlarge Name: 91818ca.png Size: 22 KB

Long CA +5 locked Finally got something going today, missed the bigger moves from much earlier.
  • #7,043
  • Sep 18, 2018 5:33am Sep 18, 2018 5:33am
Quoting turnip15
{quote} Maybe invoking a possible law of averages thing- that once a bar changes from a run of greens to a red bar ( for example) then the next bar will also be red ?
That is possible turnip15, I have found the set up that shows strong moves generally off of news release momentum will get good results on this and continue on for a number of hours.
  • #7,044
  • Sep 18, 2018 5:38am Sep 18, 2018 5:38am
Attached Image (click to enlarge)
Click to Enlarge Name: 91818gu.png Size: 18 KB

Long GU +5 locked Caught it in the same direction as the CA going up.
  • #7,045
  • Sep 18, 2018 8:18am Sep 18, 2018 8:18am
Attached Image (click to enlarge)
Click to Enlarge Name: 91818ca2.png Size: 19 KB

Long CA +5 locked second shot at this today. I liked the long bar, it went down and made a new low then moved back up through the open on a same bar trade.
  • #7,046
  • Sep 18, 2018 9:10am Sep 18, 2018 9:10am
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Short EU +5 locked
  • #7,047
  • Sep 18, 2018 1:53pm Sep 18, 2018 1:53pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7,048
  • Sep 19, 2018 2:11am Sep 19, 2018 2:11am
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Short CF +5 locked
  • #7,049
  • Edited 4:14am Sep 19, 2018 4:00am | Edited 4:14am
Attached Image (click to enlarge)
Click to Enlarge Name: 91918gu.png Size: 17 KB

Short GU -20 not locked Some may wonder if I ever lose. Yep, here is a rare one but did. I tend to get a little cocky when I see a long bar knowing full well I am taking on all that stop risk. I also liked that second high, and third, and fourth. Couple that with the GU news release this is what can happen. I fell just short of getting that +5. So the lesson is be careful around news in can go for you or against you.
  • #7,050
  • Sep 19, 2018 4:09am Sep 19, 2018 4:09am
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Click to Enlarge Name: 91918gu2.png Size: 21 KB

Short GU +5 locked but not to be deterred I came right back at it, sans news. I still like long bars.
  • #7,051
  • Sep 19, 2018 4:11am Sep 19, 2018 4:11am
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Short EJ +5 locked
  • #7,052
  • Sep 19, 2018 4:18am Sep 19, 2018 4:18am
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Long EG +5 locked Now that is a long bar
  • #7,053
  • Sep 19, 2018 5:23am Sep 19, 2018 5:23am
Quoting hal7
{image} Short GU -20 not locked Some may wonder if I ever lose. Yep, here is a rare one but did. I tend to get a little cocky when I see a long bar knowing full well I am taking on all that stop risk. I also liked that second high, and third, and fourth. Couple that with the GU news release this is what can happen. I fell just short of getting that +5. So the lesson is be careful around news in can go for you or against you.
Other than this trade, nice trading this morning, Hal!

When you see a 'long bar' making a new high/low, do you wait for any retrace or are you immediately in at the open of the next bar?

Thanks,
Dobbsie
  • #7,054
  • Sep 19, 2018 6:10am Sep 19, 2018 6:10am
Either way Dobbsie. I prefer a move toward the hi or lo first and then back through the open. However if I see it going straight down or up off the open I do tend to jump on it, because again I initially am only looking for +5, before locking in a partial. I avoid the ones closing near the high or low as that tends to show more continuation of the trend, of course the stop is less on those. I also would not hesitate to pull the plug early if the trade is not going my way, big losses need to be avoided as you could see in the GU news trade, that should have been pulled earlier but I was busy with other things and it went to the stop.
  • #7,055
  • Sep 19, 2018 6:12am Sep 19, 2018 6:12am
Attached Image (click to enlarge)
Click to Enlarge Name: 91918gu3.png Size: 21 KB

GU revisited, a little closer to the right direction. But this is because May just said something. I may be tempted to go the other direction if is sets up next hour.
  • #7,056
  • Sep 19, 2018 6:27am Sep 19, 2018 6:27am
Quoting hal7
Either way Dobbsie. I prefer a move toward the hi or lo first and then back through the open. However if I see it going straight down or up off the open I do tend to jump on it, because again I initially am only looking for +5, before locking in a partial. I avoid the ones closing near the high or low as that tends to show more continuation of the trend, of course the stop is less on those. I also would not hesitate to pull the plug early if the trade is not going my way, big losses need to be avoided as you could see in the GU news trade, that...
Thanks, Hal. I appreciate your response.

When you 'jump in', I am assuming you place an immediate market order? With the 1-2-3, do you ever use buy/sell stop entries?

These fingers aren't as fast as they used to be...
  • #7,057
  • Sep 19, 2018 6:31am Sep 19, 2018 6:31am
Quoting hal7
{image} GU revisited, a little closer to the right direction. But this is because May just said something. I may be tempted to go the other direction if is sets up next hour.
Curious to see how and if you take a trade with this in the next hour....

Thanks again,
Dobbsie
  • #7,058
  • Sep 19, 2018 6:38am Sep 19, 2018 6:38am
Quoting Dobbsie
{quote} Thanks, Hal. I appreciate your response. When you 'jump in', I am assuming you place an immediate market order? With the 1-2-3, do you ever use buy/sell stop entries? These fingers aren't as fast as they used to be...
I only place market orders on these trades.
  • #7,059
  • Sep 19, 2018 6:42am Sep 19, 2018 6:42am
Quoting Dobbsie
{quote} Curious to see how and if you take a trade with this in the next hour.... Thanks again, Dobbsie
If I am around for the set up, if it stays around where it is I would be inclined to go long. However lots of volatility today because people are speaking as later Draghi will be, and a lot risk with the blabber.
  • #7,060
  • Sep 19, 2018 8:06am Sep 19, 2018 8:06am
Attached Image (click to enlarge)
Click to Enlarge Name: 91918gu4.png Size: 17 KB

Long GU +5 locked So I was bound and determined on this one, which is dangerous in trading. But got to target, had to bend the rule on the second bar.
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