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Plan the Trade

  • #8,481
  • Oct 25, 2018 10:27am Oct 25, 2018 10:27am
Quoting VEEFX
{quote} I am a fan (almost) of vwap but not the current day's vwap. Are you using previous day's or last 2 days? They tend to act as good support (for commodities per one utube guru... I tried with some spot major pairs and experience some very nice bounce off previous day's vwap)

no just current. only thing i look at from yesterday is high/low. vwap and poc, really makes up my strategy.

selling 8 december at 10.75!
  • #8,482
  • Oct 25, 2018 10:56am Oct 25, 2018 10:56am
Quoting hilmy83
{quote} no just current. only thing i look at from yesterday is high/low. vwap and poc, really makes up my strategy. selling 8 december at 10.75!
Geez. Absolutely tagged it
  • #8,483
  • Oct 25, 2018 11:04am Oct 25, 2018 11:04am
talk about the tip of the iceberg. jesus

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  • #8,484
  • Oct 25, 2018 11:22am Oct 25, 2018 11:22am
Quoting bapakjason
{quote} Geez. Absolutely tagged it
that's the sign it's a legit market..no way in hell forex broker would fill me in..widening their spread i'm sure
  • #8,485
  • Oct 25, 2018 11:22am Oct 25, 2018 11:22am
Quoting hilmy83
talk about the tip of the iceberg. jesus {image}
meh.... you left two ticks on the table. Rookie! LOL!

Nice call.
  • #8,486
  • Oct 25, 2018 12:02pm Oct 25, 2018 12:02pm
More of an experiment than anything as i am certainly leaving 'Live' trading alone for the time being.

Holding through such pullbacks is not something that i could manage if 'Live', as i am well aware of the difference in mentality, however, as an experiment i decided to set the target and leave it alone, as i was very confident that it was going there (and beyond);

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et voila;

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and here is why i took the trade and was confident of a decent rise, (sometimes it pays to watch larger timeframes/tickrates to see the bigger picture... this one gave a 123, trigger and retrace off of both previous Demand zone and off of a trend line Support;

(2000 tick);

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A cracking trade, but even if i had taken it, i guess i would have chased my stoploss up and been taken out for closer to +40
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8,487
  • Oct 25, 2018 12:06pm Oct 25, 2018 12:06pm
Quoting hilmy83
{quote} that's the sign it's a legit market..no way in hell forex broker would fill me in..widening their spread i'm sure
Exactly. What never worked in FX must be revisited to explore potential. Even the freaking spreads in such volatile market is never more than a tick! In FX, we would be dealing with +10pips. Even if we fail, now we know we are failing because of us and not the market scams. This is the right place to me...even with demo, we are playing with a live feed. It just cannot get any better than this imo.
Staying in my lane...
  • #8,488
  • Oct 25, 2018 12:14pm Oct 25, 2018 12:14pm
Quoting hilmy83
{quote} no just current. only thing i look at from yesterday is high/low. vwap and poc, really makes up my strategy. selling 8 december at 10.75!
Yeah. I tried the current day poc and vwap. They move around making it a little tricky i.e. hit or miss. I prefer static horizontal lines to form a bias.

Your tip of wick trade is very legit way to trade with frequent tiny loss and add the F*uck like a nutcase on the way down for exponential growth...almost like incremental gridding with fixed TP, catch profits and use those profits to add some more and more and more and then quickly flaten and fold or reverse and repeat the move going up from the extremes.
Staying in my lane...
  • #8,489
  • Oct 25, 2018 12:16pm Oct 25, 2018 12:16pm
Vee exactly it's traders of world battling not traders battling brokers
  • #8,490
  • Oct 25, 2018 12:47pm Oct 25, 2018 12:47pm
Quoting Divergence
Vee exactly it's traders of world battling not traders battling brokers
day in day out.

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  • #8,491
  • Edited 1:27pm Oct 25, 2018 1:12pm | Edited 1:27pm
Simple Griding is also working out today. Has anyone tried it. just use buy stop and sell stops and follow the price.

EDIT: Round #2 after resetting Sim trades to start from scratch
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Staying in my lane...
  • #8,492
  • Oct 25, 2018 2:17pm Oct 25, 2018 2:17pm
Quoting VEEFX
Simple Griding is also working out today. Has anyone tried it. just use buy stop and sell stops and follow the price. EDIT: Round #2 after resetting Sim trades to start from scratch {image} {image} {image}
Greed will eventually get you
  • #8,493
  • Oct 25, 2018 2:58pm Oct 25, 2018 2:58pm
Quoting Divergence
{quote} heres what i see {image}
Thanks Mr D and Cap ... appreciate it ... will have to change my perception of a pullback a bit then ... !
Never give up !!!
  • #8,494
  • Oct 25, 2018 3:00pm Oct 25, 2018 3:00pm
Quoting Divergence
{quote} Greed will eventually get you
it always does! This is just play time to destress from issues at work :- I go thru this shit with every pair/instrument to understand the underlying behavoir.
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Staying in my lane...
  • #8,495
  • Oct 25, 2018 3:06pm Oct 25, 2018 3:06pm
Wow! Check out that afternoon dumper. Down 460 ticks in 5 minutes.
  • #8,496
  • Oct 25, 2018 3:22pm Oct 25, 2018 3:22pm
Quoting magnumfreak
Wow! Check out that afternoon dumper. Down 460 ticks in 5 minutes.
She is our ticket to hell or paradise.... most likely hell with such unpredictable moves LOL
Not worth putting our capital at risk imo

++ I cannot imagine anyone trading successfully in the last hour. The pressure to unwind before daily close to free up margin is too much to avoid getting margin called.
Staying in my lane...
  • #8,497
  • Oct 25, 2018 3:51pm Oct 25, 2018 3:51pm
Quoting hilmy83
{quote} day in day out. {image}
Allow me to "overthink" a little and play a hypothetical scenario since you and D are livestreamers to see if this concerns you/
I will use the 123pullback as an example...

Let's assume the followers achieve success and spread the word and soon 1000+ traders start trading this style with 4 contracts per trade. That's 4000 contracts at/around the same price level expecting pullbacks. Now, as we know it, for every buyer, there is a seller so which one would happen

 

  1. higher win rate of triggering TP of 25 ticks
  2. higher loss rate of triggering SL of 12 ticks

If a big shark learns about this, what's stopping him to enter a 1000 contract with 10Tick TP to take us all out :-)

Just trying to understand why youtubers or livestreamers show their strategy. If I got a bread winner, I am taking it with me to my grave.

Staying in my lane...
  • #8,498
  • Oct 25, 2018 4:23pm Oct 25, 2018 4:23pm
Quoting VEEFX
{quote} Allow me to "overthink" a little and play a hypothetical scenario since you and D are livestreamers to see if this concerns you/ I will use the 123pullback as an example... Let's assume the followers achieve success and spread the word and soon 1000+ traders start trading this style with 4 contracts per trade. That's 4000 contracts at/around the same price level expecting pullbacks. Now, as we know it, for every buyer, there is a seller so which one would happen higher win rate of triggering TP of 25 ticks higher loss rate of triggering...
It's impossible to get 10-20 people trading the same way on a forum dedicated to trading what makes you think someone could get 1,000?

How do you know for sure that's how they actually trade? What if they had a system that got them in 2-3 ticks before the system they show on YouTube or a forum? Think of it this way, I enter a trade on my live account. Switch to demo and make a trade with 100 times more contracts than the live account. Show the profit on YouTube to create a buzz, sit back and watch the pigeons flock. Then when the pigeons get hungry, sell them a $3,000 "course" on how to trade like them. "There is a sucker born every minute." There aren't too many YouTube traders who aren't out to sell you something.

Things that make you go hmmmmmm....
  • #8,499
  • Oct 25, 2018 4:33pm Oct 25, 2018 4:33pm
I guess today's max trade was 131 contracts. But i suppose most guys with huge accounts just have their platforms set to pour out the volume as an iceberg type order.
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  • #8,500
  • Oct 25, 2018 4:50pm Oct 25, 2018 4:50pm
I can guarantee no-one is entering pullbacks at same spot as me 12 ticks from high or low. They maybe entering same price but probably not from 30 second chart or pullback etc etc etc
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