Trading with range bars ichimoku cloud & awesome oscillator

Still struggling to survive half term, this was the only one i took today, AUD USD. Stopped out at break even.
Not great in terms of a break of structure so probably the reason this went no where. Green line indicates entry.

Volume this week was basically non existent. With low volume the retail trader is better off staying out of the market, too easy to get whipsawed, by the occasional big buy or sell..

It seems a time of year when many of the money makers go on holiday. Thanks for the thread Rocky, Im new to it but am lucky to have so much to read here and learn from the other guys who went before me. I think this approach to the markets is just 'up my street'.

Greg

Dax within squeezed pivot which is not too important but it drew attention to swings of price which broke at arrows. Nice case of being constrained by lines until break of same. Patience I suppose. ( Out at 10 am bar- done for morning -bit early maybe but no matter)

On reflection, I suppose that, had I continued past 10 am, I should have looked to trade a break below 300 line ( thick green line). Must remember to note these half and whole numbers ! Fault in my pre-market planning. Thought I was smart in noting long DOWN red bar and feeble pull back enabling the last short

My GBPNZD trade for today.
Note:I mentioned in a previous post how i have stopped looking at GBPNZD.Well, i am back to watching it albeit with extra caution, it and its similarly volatile cousins GBPCAD,GBPAUD

A poor showing by me with the Dax - but not a losing morning.

Duh !! Just seen the pivot - dashed line -was hit three times and reversed down. Pay attention Turnip !

Dow is bouncing off weekly highs and it is FOMC day. I am not sure what to do - So I am going to leave the US Dow session. Enjoy your day folks.

Psst ! You like leetle futures sir ?

7182-micro-e-mini-futures

European holidays -so no trading for me.

Turnip15,
How long is the holiday period? Explains why things are so quite.

Cheers.

Read the "Calendar" at the top of the page.

Dax was easier this morning:

No trading this afternoon -too many red reports and I am also off out :-)

My GBPNZD trade about 1 and a half hours after the NFP.
It was a quick 150 pip move.I managed to gain a little over half of the move.I exited on my phone.I wish i was on my laptop to notice that price was sitting on yesterday's high(acting as support) when i exited.In any case price had not closed below the kijun and staying in the trade was not debatable.
Anyway, i am more than happy with what the market gave me.
Wish you all a happy weekend!
Shalom!

Dax two losers and two wins by end of stint at 10 am.

Two trades on the hang seng today, both worked out well. Trading time 11am till 1pm Aussie time. Suites me well. ClTrader's suggestion. Thanks.

Reminder to alcol (and others interested in the HSI, the BEST trending day trading instrument in the world)

If you're trading the futures from the Hong Kong Futures Exchange (and not some spread provider), you can always drop down to their mini contracts in times of very high volatility. One tick of the mini HSI ($1.27 USD) = 1/5th HSI ($6.37 USD). Another thing you can do is trade the HHI (Hang Seng China Enterprise Index), also on the HKFE, which moves almost 1 to 1 with the HSI. Same tick price as the HSI, $6.37 USD, but the distances it travels are about 1/2 that of the HSI so I think of it as trading a 1/2 HSI contract (you can also think of 1 HHI contract as trading like 2.5 mini HSI contracts). The HHI also has a mini contract, also $1.27 USD per tick, but I think that would be more for beginning traders as 1/5th of 1/2 of the amount an HSI contract makes on a move is more for experience building rather than meaningful generation.

On a 1 min chart, my stop loss on the HSI animal is 10-25 ticks on 40+ tick expected moves. That means that I'll have a hard stop at -25 ticks and get out earlier (usually in the -10 to -20 tick area) given the reward to risk ratio situation. If I try to go for 20-35 ticks when it's moving slower, then my stop loss will be a strict -10 to -12 ticks. What can override these hard stop rules for me is that I will go with a tighter stop from the very start if there's a recent swing high or low close to my entry and then use the common 1-2 ticks outside of that point to exit for the loss.

You can always get back in if you make a placement mistake (which you'll only really know in the heat of real-time price action), so no need to always spend the full risk on 1 trade entry per setup. There's times where I'll get out in the 7-10 tick range, wait for 1-3 more bars against the direction I intend to go or some secondary price pullback structure and then give it another try, spending a total of 20 ticks risk in anticipation of a much larger move coming. If that doesn't quite make complete sense reading it when you're calm, it will when you see super high volatility levels in real-time when you're actually trying to get in a new move.

Caution: I would never hold any of these contracts past a trading session. The gap-ups and downs between sessions can be monstrous. And lastly, I cannot imagine anyone ever having to have more than a 30 tick stop loss off of a 1 min HSI chart. Go for the higher reward to risk ratios at reasonable winning pct levels (40-60%), not high win rates where your risk and reward get too close together, or worse, upside-down (risking more than you have to gain). It is a far, far easier way to trade. There is a very large pct of entries where your realized real-time risk (the risk the market actually went against you in a trade, not where your hard stop loss was) is very small (1-12 ticks) and the rewards are very large (50-300 ticks).

This is how I "filter" good trade opportunities from bad: not by waiting longer for more confirmations to get in a trade to increase a winning pct and, more likely than not, decrease the reward to risk ratio potential I could have had, but by doing the historical measurements of knowing how far the good and really good trades should go against me and get out when what I'm experiencing in real-time is not matching up with the facts I've gathered from 100's of historical measurements within the past several months of moves. If a market is hot to go in your direction, it's not going to wait around very long in the pullbacks to pick up more with-trend entries, especially on a 1 min, high volatility trading instrument like the HSI or HHI.

Good luck and have fun!

Anyone - Playing with E Micros on web based browser with AMP Euro ( Limited to web based MT5 only because I have an iMac - AMP Europe's MT5-full version non web based -is for Windows only)

How do I save charts for printing on FF forums ??