Plan the Trade | Page 483 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Plan the Trade / Trade the plan 74 replies

Plan the Trade and Trade the Plan: Swing Trading the Euro 5 replies

My backtest - optimisation - trade plan 0 replies

A realistic trade plan 6 replies

my trade plan for next week 47 replies

Attachments: Plan the Trade
Exit Attachments

Plan the Trade

  • #9,641
  • Dec 3, 2018 10:03am Dec 3, 2018 10:03am
+21 hardly earth shattering.

I would have genuinely taken that second trade marked with grey line, but I got distracted. Can't even remember taking the last losing trade!

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-03 at 16.58.56.png Size: 44 KB
'in less than half an hour he made over 100 ticks'
  • #9,642
  • Edited 1:32pm Dec 3, 2018 1:04pm | Edited 1:32pm
Quoting onejester
+21 hardly earth shattering. I would have genuinely taken that second trade marked with grey line, but I got distracted. Can't even remember taking the last losing trade! {image}
That grey line was your entry ?
Mine ( using different approach to yours) would have been later and near the red label- 7067.75 - a failed 123 resulting in a short ?
every Saint has a past. Every Sinner has a Future
  • #9,643
  • Dec 3, 2018 1:44pm Dec 3, 2018 1:44pm
Quoting turnip15
{quote} That grey line was your entry ? Mine ( using different approach to yours) would have been later and near the red label- 7067.75 - a failed 123 ?
Nope, my first entry was at 7078. The grey line was the one I missed. And although not a failed 123 (at the grey line mentioned), upon looking left there was a lot of previous supply. That's the way I saw it anyway.

Although I don't use it, for illustration purposes I have shown AO which is firmly under its zero line on that first pullback.

The one you would have taken was the more correct entry as per Divergences rules.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-03 at 20.42.17.png Size: 51 KB


Please can we stop talking about it now because I'm still smarting from the fact that I missed it
'in less than half an hour he made over 100 ticks'
  • #9,644
  • Dec 3, 2018 2:15pm Dec 3, 2018 2:15pm
Quoting onejester
{quote} Nope, my first entry was at 7078. The grey line was the one I missed. And although not a failed 123 (at the grey line mentioned), upon looking left there was a lot of previous supply. That's the way I saw it anyway. Although I don't use it, for illustration purposes I have shown AO which is firmly under its zero line on that first pullback. The one you would have taken was the more correct entry as per Divergences rules. {image} Please can we stop talking about it now because I'm still smarting from the fact that I missed it...
Okay - why not think profound thoughts instead
Attached Image
every Saint has a past. Every Sinner has a Future
  • #9,645
  • Dec 4, 2018 3:29am Dec 4, 2018 3:29am
Quoting VEEFX
{quote} Thanks CG. I think since my participation, this thread has gone south with my noob and contradictory comments. The collaborative theme helps towards a common goal of squeezing ticks from NQ. Everyone contributes and I personally am learning a lot about futures. At the end, decision has to be yours...this is your thread/journal and what you prefer is the only thing matters. I will try to restrict my QnA also to keep us focused on daily grind of trading NQ. Perhaps defining what rules to follow in your first post would help us get aligned...

VEE, this certainly wasn't aimed at you my friend, or anyone for that matter. I'm merely stating that i don't think that you can watch a fast timescale or tick rate, looking at the applicable S/D levels that we do and aim for 200 tick targets. Ok, if you are scaling out and start with say 50 tick SL etc

Now, i'm not saying that you can't jump in and join a trend and ride it for much further than the 25/30 tick targets that we employ, but don't forget, this will generally only be the case during a specific phase of the market. When it starts retracing it's moves much more regularly, you would have to change your plan to suit.

With a target of 25/30 off of a prior S/D level on a 30sec or 133 tick chart, it has a much higher probability of reaching it, (regardless where it goes thereafter) and that can become a sound basis for a trading plan in any weather. The idea being, one hour is enough (usually) to find several set-ups and utilising relatively small initial stops.

As i said, i don't mind anyone posting their trades along with reasons for entries etc

I never really set out to have any rules, but if i were to edit my first post, it would simply say; No politics. No religion.

People will always have enough different opinions regarding trading without introducing other topics!

GL all)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #9,646
  • Dec 4, 2018 5:09am Dec 4, 2018 5:09am
Naz already moving UK session ( Spread bet Chart - UK time )

1 Minute Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: US Tech 100_20181204_11.06.png Size: 141 KB
every Saint has a past. Every Sinner has a Future
  • #9,647
  • Dec 4, 2018 8:46am Dec 4, 2018 8:46am
+40 on a 123 break at 7037.00
  • #9,648
  • Dec 4, 2018 8:53am Dec 4, 2018 8:53am
Hello,
Good placement?
Or chance?
Attached Image (click to enlarge)
Click to Enlarge Name: NQ.jpg Size: 282 KB
  • #9,649
  • Dec 4, 2018 9:06am Dec 4, 2018 9:06am
Took a loss on a short:
Too early maybe ?
Attached Image (click to enlarge)
Click to Enlarge Name: US Tech 100_20181204_15.05.png Size: 144 KB
every Saint has a past. Every Sinner has a Future
  • #9,650
  • Dec 4, 2018 9:27am Dec 4, 2018 9:27am
Quoting turnip15
Took a loss on a short: Too early maybe ? {image}
Looks like it did not have room to move as it goes straight into a demand area around 12:30 on your chart. On the 5 min chart you can see a clear 123 break at that area, price turns at that zone.
  • #9,651
  • Dec 4, 2018 9:29am Dec 4, 2018 9:29am
Quoting Satori16
{quote} Looks like it did not have room to move as it goes straight into a demand area around 12:30 on your chart. On the 5 min chart you can see a clear 123 break at that area, price turns at that zone.
2 pullback wins nice day
  • #9,652
  • Edited 9:47am Dec 4, 2018 9:36am | Edited 9:47am
didnt take any 123 breaks? had 3 today, all would have been full wins, but moving stop to limit risk and ended with 2@+10, 1@+6
  • #9,653
  • Dec 4, 2018 9:47am Dec 4, 2018 9:47am
Quoting tbjohnton
didnt take any 123 breaks?
no the market doesnt seem to be moving like before 20 points/80 tick moves arent there at the moment might reduce it to 10 point tries
  • #9,654
  • Dec 4, 2018 9:53am Dec 4, 2018 9:53am
nice tool in the box today (shooting for 10pts, that is), they do take the risk off the table pretty quick also
  • #9,655
  • Dec 4, 2018 9:55am Dec 4, 2018 9:55am
From - 33 to zero. Which is my own fault dicking around at the open.

Still 8 trades, that'll teach me...
'in less than half an hour he made over 100 ticks'
  • #9,656
  • Dec 4, 2018 10:09am Dec 4, 2018 10:09am
I got +47 with 5 trades. After my +40 I missed a nice 123 break at 7021.25. Next were 2x BE's and one loss which I should have cancelled before being triggered. Ended with a 123 PB which touched +25 but did not fill, then it burst up and closed at +15 (I have a trail stop to move to +16 at 22). Couple of nice trades, couple of lessons learned, nice day!
  • #9,657
  • Dec 4, 2018 10:55am Dec 4, 2018 10:55am
Quoting Satori16
I got +47 with 5 trades. After my +40 I missed a nice 123 break at 7021.25. Next were 2x BE's and one loss which I should have cancelled before being triggered. Ended with a 123 PB which touched +25 but did not fill, then it burst up and closed at +15 (I have a trail stop to move to +16 at 22). Couple of nice trades, couple of lessons learned, nice day!
Just out of interest, what stop loss setup have you been using?

Cheers
'in less than half an hour he made over 100 ticks'
  • #9,658
  • Dec 4, 2018 11:43am Dec 4, 2018 11:43am
Quoting Satori16
I got +47 with 5 trades. After my +40 I missed a nice 123 break at 7021.25. Next were 2x BE's and one loss which I should have cancelled before being triggered. Ended with a 123 PB which touched +25 but did not fill, then it burst up and closed at +15 (I have a trail stop to move to +16 at 22). Couple of nice trades, couple of lessons learned, nice day!
Can you show a chart of your trades please ?
every Saint has a past. Every Sinner has a Future
  • #9,659
  • Dec 4, 2018 3:02pm Dec 4, 2018 3:02pm
Quoting onejester
{quote} Just out of interest, what stop loss setup have you been using? Cheers
I open trades with a stop of 12 and 25 target.

I use the 'Stop: Triggered Step Trail Stop' option with the following move to BE settings:
up 6 SL to -6

up 8 SL to +2

(Still working on this, looking at my data most of my losing trades still go straight to -12. Looking for settings that will work with trades that go up 8 or 9 then fall back to BE before moving to target. But as Harold says protecting capital is most important.)

Then the trail stop kicks in at +16 with a trail ofset and step amount of 6 ticks:

16 -> +10
22 -> +16

I noticed I have difficulties closing a trade when it just misses target. Letting it drop while hoping for another thrust to target. With this trail I at least get 16 instead of 10 while working on the habit of closing trades above +20 when target is missed by 1 or 2 ticks
  • #9,660
  • Dec 4, 2018 3:10pm Dec 4, 2018 3:10pm
Quoting turnip15
{quote} Can you show a chart of your trades please ?
Hope this works.

Fyi, the blue line is the high of the pre-market. Noticed that price reacts at these levels quite often. The purple line is vwap, you can see the price reactions.

My entries are 99% based on 123's and 2B's.

Attached Image (click to enlarge)
Click to Enlarge Name: 04-12-2018 47 ticks.png Size: 91 KB
10 traders viewing now