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Plan the Trade

  • #11,581
  • Mar 25, 2019 12:44pm Mar 25, 2019 12:44pm
Quoting Divergence
VEE Sorry Harold, I just struggle to accept this). don't see why the struggle if you can grasp the suppy/demand concept of commerce you wouldn't struggle so much. think of it as I am not an impulsive buyer/seller hint hint
yep.. I have said this before... it's me and my 'anxiety' with pending orders.

And just to say it... I could use a shrink when it comes to trading psychology (or atleast until I quit my primary job and focus 100% on trading)
Staying in my lane...
  • #11,582
  • Mar 25, 2019 3:29pm Mar 25, 2019 3:29pm
Quoting VEEFX
{quote}Curious where is your TP?
TP can be anywhere you want - a set number of points, twice the initial risk, trailed one tick below the low of the last candle. This is where your own risk tolerance, back testing, etc. come into play. I used to be in a skype trading room with a guy who traded this exact set up, took a fixed profit based on the 15 minute ATR or something like that, which back then meant he was taking 2 to 6 points depending on current volatility. He did this for years before I met him and he did it until he died in 2007.

Not sure what to make of the rest of your post and your posted image is indecipherable to me - perhaps some annotations would make it easier for me?
  • #11,583
  • Mar 25, 2019 3:47pm Mar 25, 2019 3:47pm
Quoting ddaytrader
{quote} TP can be anywhere you want - a set number of points, twice the initial risk, trailed one tick below the low of the last candle. This is where your own risk tolerance, back testing, etc. come into play. I used to be in a skype trading room with a guy who traded this exact set up, took a fixed profit based on the 15 minute ATR or something like that, which back then meant he was taking 2 to 6 points depending on current volatility. He did this for years before I met him and he did it until he died in 2007. Not sure what to make of the rest...
thanks DD. I will post my findings soon in my thread to avoid clutter here. Doing Research in my free time is just pure Therapy for me.

I think you are going to like what I have to share as I am an immense fan of average of the averages lol

(hopefully before I leave on my vacation... rushing a bit to empty my mind).

FYI - Any (and I mean ANY) strategy using moving averages can be developed and tested easily in Sierra without any coding skills.
Staying in my lane...
  • #11,584
  • Mar 25, 2019 5:10pm Mar 25, 2019 5:10pm
in hindsight,more of a 2-b my entry was going to be on candle open which i have marked 3, had my finger on the trigger, then my black lab runs into my trading room and missed it.....oh well it connected but moving forward prob should have been 12 or 13 ticks down from top of candle
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  • #11,585
  • Mar 25, 2019 5:30pm Mar 25, 2019 5:30pm
Quoting namakan
in hindsight,more of a 2-b my entry was going to be on candle open which i have marked 3, had my finger on the trigger, then my black lab runs into my trading room and missed it.....oh well it connected but moving forward prob should have been 12 or 13 ticks down from top of candle {image}
thats not a 123 just a 1 candle pullback in a trend
  • #11,586
  • Edited 7:55pm Mar 25, 2019 7:44pm | Edited 7:55pm
Quoting Divergence
{quote} thats not a 123 just a 1 candle pullback in a trend
my minds eye saw 7324.00 level and i think i was trying to make a pattern fit, what was never there...
  • #11,587
  • Mar 25, 2019 7:56pm Mar 25, 2019 7:56pm
Quoting namakan
{quote} my minds eye saw 7344.00 level and i think i was trying to make a pattern fit, what was never there...
it happens just ask yourself it market making HHHLor LLLH sometimes a 123 will form to get back into trend so LLLH NOT A LL NOT A HH or HHHL NOT A HH NOT A LL
  • #11,588
  • Mar 26, 2019 9:30am Mar 26, 2019 9:30am
1 loss 1 win
  • #11,589
  • Mar 26, 2019 9:38am Mar 26, 2019 9:38am
My day. I do take an additional setup, but all based on pullbacks. Many thanks to Div for all he has contributed
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  • #11,590
  • Edited 10:04am Mar 26, 2019 9:54am | Edited 10:04am
Two trades two ticks and feeling lucky, first trade no thrust down took its time.
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  • #11,591
  • Mar 26, 2019 11:19am Mar 26, 2019 11:19am
Quoting Divergence
{quote} it happens just ask yourself it market making HHHLor LLLH sometimes a 123 will form to get back into trend so LLLH NOT A LL NOT A HH or HHHL NOT A HH NOT A LL
D - HH/HL/LL/LH is legit... this is all we need to bounce/breakout/continuation/pullback/reversals/retracements and everything in between :=) I just don't know how to automate it yet as the last leg of this assessment will always "repaint" or unknown and that is the Main reason why pending orders are a key to trading pullbacks. I will get there bro... in baby steps ;

EDIT: What Zen posted is extremely logical way imo
Staying in my lane...
  • #11,592
  • Mar 26, 2019 2:51pm Mar 26, 2019 2:51pm
Quoting VEEFX
{quote} D - HH/HL/LL/LH is legit... this is all we need to bounce/breakout/continuation/pullback/reversals/retracements and everything in between :=)
I have written dozens of swing filters over the years. Something so simple one would think, but actually is quite involved to really get it right because there are always "special cases". And for what I was doing, the swing filter was everything so that I could always know the current structure.

Good luck with your automation Vee. I am sure it is doable at least to some degree.

What I have discovered for myself is that focusing on the latest impulse swing HH/LL is as close to a holy grail as I have ever seen. It has almost become cliche these days, but only because most just don't get how powerful this is. The type of setup almost doesn't matter as long as entry is in the direction of the latest genuine HH/LL. Watching the videos of Divergence really crystallized that for me. I already knew it, but something "clicked" in a way that I was able to integrate or really "know" what I already knew. I mean what trader doesn't know about HH/HL LL/LH... So why does everyone fight the trend? I think most would have more success if they looked at their losers and ask if they were in the direction of the latest HH or LL and before every trade, thought "was the last swing HH or LL? where was the last HH LL?"
  • #11,593
  • Mar 26, 2019 3:10pm Mar 26, 2019 3:10pm
Quoting Zen.
{quote} I have written dozens of swing filters over the years. Something so simple one would think, but actually is quite involved to really get it right because there are always "special cases". And for what I was doing, the swing filter was everything so that I could always know the current structure. Good luck with your automation Vee. I am sure it is doable at least to some degree. What I have discovered for myself is that focusing on the latest impulse swing HH/LL is as close to a holy grail as I have ever seen. It has almost become cliche...
So true. Picture is self-explainatory when it comes to trend following strategies i.e. Divergence from Mean in my own lingo. My very first positive expectancy strategy (with no regard to risk) was simple "buying at HL and selling at LH" (i.e. pullbacks) using the change in background as signals. This stuff is all delivered in Sierra and can be rapidly implemented as alerts :-)
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Staying in my lane...
  • #11,594
  • Mar 26, 2019 3:11pm Mar 26, 2019 3:11pm
Quoting Zen.
{quote} I have written dozens of swing filters over the years. Something so simple one would think, but actually is quite involved to really get it right because there are always "special cases". And for what I was doing, the swing filter was everything so that I could always know the current structure. Good luck with your automation Vee. I am sure it is doable at least to some degree. What I have discovered for myself is that focusing on the latest impulse swing HH/LL is as close to a holy grail as I have ever seen. It has almost become cliche...
well done Zen when one is able to identify these things 123 and 2bs will be spotted in a second
  • #11,595
  • Mar 26, 2019 3:15pm Mar 26, 2019 3:15pm
Quoting Divergence
{quote} well done Zen when one is able to identify these things 123 and 2bs will be spotted in a second
I plan to tackle 123/2b on the same setup as HHLL once I return from my vacation. It should be an interesting exercise.

EDIT: This in combination with the one that Nick posted a while ago (order balance stuff) could be a good visual aid for manual traders
Staying in my lane...
  • #11,596
  • Mar 26, 2019 4:55pm Mar 26, 2019 4:55pm
Quoting Zen.
My day. I do take an additional setup, but all based on pullbacks. Many thanks to Div for all he has contributed {image}
That is some mighty fine trading, Zen! Congratulations!
  • #11,597
  • Edited 7:40pm Mar 26, 2019 6:33pm | Edited 7:40pm
Quoting Divergence
1 loss 1 win
Where were your loss and win? I was looking at namakan's chart and trying to guess where you traded at.

How did your method do today DD?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #11,598
  • Mar 26, 2019 8:18pm Mar 26, 2019 8:18pm
Quoting capstone
{quote} Where were your loss and win? I was looking at namakan's chart and trying to guess where you traded at. How did your method do today DD?
here you go tony
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  • #11,599
  • Mar 27, 2019 8:03am Mar 27, 2019 8:03am
Quoting Divergence
{quote} here you go tony {image}
I had the loss right, but not the win. I thought you went long at 9:42 based on the railroad tracks at 9:35.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #11,600
  • Mar 27, 2019 8:06am Mar 27, 2019 8:06am
Quoting capstone
{quote} I had the loss right, but not the win. I thought you went long at 9:42 based on the railroad tracks at 9:35.
after the rr tracks it really didn't shoot up the real demand was the point 3 candle of the 123 that I won with
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