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NIH98 Journal of Whatever

  • #561
  • Jul 16, 2019 4:15am Jul 16, 2019 4:15am
Where is NIH?
Is sometime not seeing him posting.
  • #562
  • Jul 16, 2019 4:16am Jul 16, 2019 4:16am
Quoting OAPDave
{quote} Nih98 page 12 post 238
Thanks
  • #563
  • Jul 16, 2019 4:22am Jul 16, 2019 4:22am
Quoting OAPDave
{quote} Merka You have summed it up in one, yes it's as simple as that. My theory is that we have to make a Range be it Daily Weekly or even Monthly now we know by experience that it will not always be in a straight line, they will go up a bit down a bit just to confuse us, that's were fixed Risk Reward and good money- management comes in, hence if that's in place we just keep playing until they make a dash to expand the range from a Daily to a Weekly or even a Monthly, just remember there is always a Weekly high and a Weekly low if you can spot...
Would you mind to discuss the money management strategy?
This type of trading strategy will succeed only with a successful MM approach.
All the MM strategies I thought about are just quite dangerous.
To reduce the risk is necessary to predict the price direction as well.
Curios to see your approach.
  • #564
  • Jul 16, 2019 4:38am Jul 16, 2019 4:38am
Quoting OAPDave
{quote} Hi Just got to pop out for a few hours, I will reply to you when I get back, but in the mean time have you any thoughts ? Dave
Thanks bro
  • #565
  • Jul 16, 2019 4:40am Jul 16, 2019 4:40am
Quoting OAPDave
{quote} Hi I have the Box levels off Nih98 Indicator so just to highlight them for you guys, I have coloured them in by hand Hope that helps Dave {image} {image} {image}
I see you trade with the trend. Very good.
Counter trends with this type of break out strategies can be dangerous.

Cheers
  • #566
  • Jul 16, 2019 5:08am Jul 16, 2019 5:08am
Quoting OAPDave
{quote} Hi I have the Box levels off Nih98 Indicator so just to highlight them for you guys, I have coloured them in by hand Hope that helps Dave {image} {image} {image}
Thanks Dave for your prompt response. Could you guide us with potential live trade set ups anytime you get a chance?
Kind Regards

Ferdinando
  • #567
  • Jul 16, 2019 8:04am Jul 16, 2019 8:04am
Quoting OAPDave
{quote} Hi Just got to pop out for a few hours, I will reply to you when I get back, but in the mean time have you any thoughts ? Dave
Let's talk about MM when you are free.
Cheers
  • #568
  • Jul 16, 2019 9:11am Jul 16, 2019 9:11am
Quoting OAPDave
{quote} Ok lets make sure we are on the same page first, do you follow this risk reward setup. ie it's a max 32 2 risk and we are after a min of 31.2 pips reward according to Nih98 3 day average we should just about make it ( as it as happened it' been a waterfall today) Dave {image}
Yes R:R 1:1
My issue is: what to do if I'm on the wrong side on first oder?
Trying to figure out a plan B
  • #569
  • Jul 16, 2019 10:26am Jul 16, 2019 10:26am
The beast sisters gave a very nice run. I am eager to test this strategy on ranging and choppy markets but all the pairs I looked at seemed to be trending nicely. This is a lucky time for the live account traders. I am not confident enough to go live yet but it is becoming very tempting
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  • #570
  • Jul 16, 2019 10:40am Jul 16, 2019 10:40am
Quoting mamabear
The beast sisters gave a very nice run. I am eager to test this strategy on ranging and choppy markets but all the pairs I looked at seemed to be trending nicely. This is a lucky time for the live account traders. I am not confident enough to go live yet but it is becoming very tempting {image}
Good to see you posting again, lets just try to get the thread going again.
Here is a 15 min view of your chart
Dave
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  • #571
  • Jul 16, 2019 11:38am Jul 16, 2019 11:38am
Quoting OAPDave
{quote} Good to see you posting again, lets just try to get the thread going again. Here is a 15 min view of your chart Dave {image}
Hi Dave, It is super hard for me right now because I started a new job have to work during the day and at night when London opens I have to sleep. I switched to D, 4H charts then 1H chart for entry. 3 trades on GA 3 trades on GN entered on Friday and held over the weekend. All closed now 6 trades 1605 pips total. these trades worked out thanks to the nice trend but what would happen if market is in a flat range? Thanks for the input I will study them later tonight.
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  • #572
  • Jul 16, 2019 12:00pm Jul 16, 2019 12:00pm
Quoting OAPDave
{quote} Ok now lets think, Price has to move or no one would win and no one would lose, to consistently lose price would have to stay trapped in a tight range for a number of days. Lets now take 31 pips as a normal risk on initial entry, now lets just say we have 1 unit on a buy and it fails , the way I overcome this is to divide my account in half I then say I have a Buy account and a Sell account and I keep a log of each We now have a 1 unit loss in my Buy account I am then reversed into a Sell Trade and Hit my 1st Target so that means I have...
Thanks
I understood now your MM logic
  • #573
  • Jul 16, 2019 12:03pm Jul 16, 2019 12:03pm
Quoting mamabear
{quote} Hi Dave, It is super hard for me right now because I started a new job have to work during the day and at night when London opens I have to sleep. I switched to D, 4H charts then 1H chart for entry. 3 trades on GA 3 trades on GN entered on Friday and held over the weekend. All closed now 6 trades 1605 pips total. these trades worked out thanks to the nice trend but what would happen if market is in a flat range? Thanks for the input I will study them later tonight. {image} {image}
My Friend
You did real good, you took the trade and banked the pips, think positive, you were right, if it had been a flat trade or trend at worst you would have had a small loss, just think when you get 50 winning trades on the bounce are you going to stop trading because you must be due a loser.
Real good stuff my friend and remember it sometimes helps when you cannot sit in front of the screen all the time.
Keep it going
Dave
  • #574
  • Jul 16, 2019 12:21pm Jul 16, 2019 12:21pm
Quoting OAPDave
{quote} Glad I have given you something to think about, It would be good if you could keep posting and perhaps add a few charts, that way we just might tempt the Boss back Dave
Thanks
I will when setup my new account with a new broker
  • #575
  • Jul 18, 2019 3:55pm Jul 18, 2019 3:55pm
Well who would have guest ?
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  • #576
  • Jul 18, 2019 8:54pm Jul 18, 2019 8:54pm
Quoting OAPDave
{quote} Good to see you posting again, lets just try to get the thread going again. Here is a 15 min view of your chart Dave {image}
Good day sir dave, Can you please share indicator for break out box? thank you!!
  • #577
  • Jul 19, 2019 2:03am Jul 19, 2019 2:03am
Quoting MarkStep
{quote} Good day sir dave, Can you please share indicator for break out box? thank you!!
See page 12 post 238
Hope that helps
Dave
  • #578
  • Jul 19, 2019 2:22am Jul 19, 2019 2:22am
Hi guys,

Anybody realize that Nih's RSI Setup resulted in pretty much the same wave with what happened in the TMA band, especially the Salmon slope and cross?
I am just wondering we don't need to find any confluence from these two indies, because they will always move the same wave.
So, should we delete the RSI windows?? i'm not so sure, at least RSI still provide info about wheter we are on lower side of RSI 50 or upper side, and have we reached the equilibrium yet.

So far i see more and more indie here, but i think before we add more indies, it is better if we can understand each of it, what is our target, what is our trading approach, etc
In my mind now is to keep it simple:

1. Stop Hunting
Fractal line which we only focus on 2 closest line above and below current price, from my understanding we can't predict which way it will go as target, but our purpose is determine what action will be made after price reached that fractal line or MM has hunt our stop. Will the market reverse, or will it keep going.
With this approach then the TMA extreme band will come into play which will give confluence for our bias, ADR also can give some clue, and Nih's oscillator that has not released yet can show convergence and divergence

2. Trend Following
In some occasion, Nih showed us how to follow the trend, based on the Salmon line, now the question is, how can we now that when the price reach the Salmon line (in TMA or RSI) it will bounce or break?
RSI median line can give some info, chart pattern maybe.

Of course we are responsible for finding that answer by ourself, at least we can keep it simple, and not overwhelmed with too much info
Nih's existence will always be appreciated

(Sorry for my bad english)
  • #579
  • Jul 19, 2019 2:55am Jul 19, 2019 2:55am
Quoting phoenix777
Hi guys, Anybody realize that Nih's RSI Setup resulted in pretty much the same wave with what happened in the TMA band, especially the Salmon slope and cross? I am just wondering we don't need to find any confluence from these two indies, because they will always move the same wave. So, should we delete the RSI windows?? i'm not so sure, at least RSI still provide info about wheter we are on lower side of RSI 50 or upper side, and have we reached the equilibrium yet. So far i see more and more indie here, but i think before we add more indies, it...
Good post,
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  • #580
  • Jul 19, 2019 3:32am Jul 19, 2019 3:32am
Monthly view
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