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Following the big money

  • #2,301
  • Aug 23, 2019 8:47am Aug 23, 2019 8:47am
Long GBP/USD, initial stop 7 pips
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  • #2,302
  • Aug 27, 2019 3:16am Aug 27, 2019 3:16am
Before the London open, usually the market respects some well defined range. Stop 4p (3p below the low), target 8 p (.
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  • #2,303
  • Aug 27, 2019 1:24pm Aug 27, 2019 1:24pm
Quoting srmfx
Before the London open, usually the market respects some well defined range. Stop 4p (3p below the low), target 8 p (. {image}
Hi Srmfx,

I have been reading your thread the last couple of days; to be honest I have not read the whole thread, only until page 37.

I would like to congratulate you for your thread is very clearly explained and to the point.

I have some questions. I use volume as well, in a different way as you do, as far as I know you look at the quotes and when you see big jump in the quote coming in is when you enter the market.

At the in forex the quotes that you mention is the = to ticks and ticks = volume

I use volume on the 5 min chart, the 1 min chart is too fast for me, the rest is the same as in your strategy or almost, I do not trade counter trend trades as you sometimes do and I define a pullback with the CCI set at 14 periods.

My question si what would you consider big volume coming do you have a way to translate what you do to my way of looking at volume, for example volume been bigger than on the last 3 bars or something similar.

Also I see that you manage the positions in a very efficient way, basically you get out in 3 different occasions.

My question regarding this is what a % you sell the first part % of the second and % of the last?

Sorry that I have not read everything before asking but after reading 37 pages I was getting bold of tearing my hair and I had to ask

Thanks
Kind regards
  • #2,304
  • Aug 28, 2019 1:19am Aug 28, 2019 1:19am
Quoting Frag8383
{quote} Hi Srmfx, I have been reading your thread the last couple of days; to be honest I have not read the whole thread, only until page 37. I would like to congratulate you for your thread is very clearly explained and to the point. I have some questions. I use volume as well, in a different way as you do, as far as I know you look at the quotes and when you see big jump in the quote coming in is when you enter the market. At the in forex the quotes that you mention is the = to ticks and ticks = volume I use volume on the 5 min chart, the 1 min...
Hi Frag8383,
I close the positions usually in 3 equal parts. What volume do you use - tick volume, futures, etc.?
  • #2,305
  • Aug 28, 2019 2:25am Aug 28, 2019 2:25am
14 Stop, 21 limit.
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  • #2,306
  • Aug 28, 2019 2:58am Aug 28, 2019 2:58am
Stop 5p, limit 6p
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  • #2,307
  • Aug 28, 2019 3:39am Aug 28, 2019 3:39am
EURGBP, 1/2 +10,1/2 +40, initial stop 10 pips
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  • #2,308
  • Aug 28, 2019 4:15am Aug 28, 2019 4:15am
Quoting srmfx
{quote} Hi Frag8383, I close the positions usually in 3 equal parts. What volume do you use - tick volume, futures, etc.?
I use the tick volume that comes with my broker IG
  • #2,309
  • Aug 29, 2019 2:33am Aug 29, 2019 2:33am
Quoting Frag8383
{quote} I use the tick volume that comes with my broker IG
The tick volume is only part of the picture. The quote reading provides info about the size of the ticks (orders) and the number of ticks in one direction.
  • #2,310
  • Aug 29, 2019 2:33am Aug 29, 2019 2:33am
Quoting stoqn4444
EURGBP, 1/2 +10,1/2 +40, initial stop 10 pips {image}
Excellent entry. I've missed this one on GBPUSD
  • #2,311
  • Aug 29, 2019 8:16am Aug 29, 2019 8:16am
27 seconds trade. Stop 4p, limit 6p
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  • #2,312
  • Aug 30, 2019 5:00am Aug 30, 2019 5:00am
Quoting srmfx
{quote} The tick volume is only part of the picture. The quote reading provides info about the size of the ticks (orders) and the number of ticks in one direction.
Thanks for your replies, I dont know how to read the quotes so I will think of a way of measuring the change in volume
  • #2,313
  • Sep 1, 2019 11:41am Sep 1, 2019 11:41am
Quoting srmfx
27 seconds trade. Stop 4p, limit 6p {image}
Nice catch; but I rarely use m1; m5 is the minimum number to me based on the time frame!
  • #2,314
  • Sep 2, 2019 12:45am Sep 2, 2019 12:45am
Quoting NeilWagner
{quote} Nice catch; but I rarely use m1; m5 is the minimum number to me based on the time frame!
M1 is too fast for many traders. You shoul dreally know what you are doing if you trade on M1. No time for hesitation.
  • #2,315
  • Sep 2, 2019 1:39am Sep 2, 2019 1:39am
OFT scalp. Looking for long entry around 200 EMA.
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  • #2,316
  • Sep 2, 2019 9:50am Sep 2, 2019 9:50am
Quoting srmfx
OFT scalp. Looking for long entry around 200 EMA. {image}
I see that when you trade counter trend you only do a quick scalp, what do you base your entries on the counters?
  • #2,317
  • Sep 3, 2019 5:22am Sep 3, 2019 5:22am
Quoting Frag8383
{quote} I see that when you trade counter trend you only do a quick scalp, what do you base your entries on the counters?
Exahustion of the price move. Distance + timing + price levels + correlation.
  • #2,318
  • Sep 3, 2019 6:11am Sep 3, 2019 6:11am
Sort EURGBP, stop 11 pips, 1/2 closed + 12, TP at +40
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  • #2,319
  • Sep 3, 2019 6:12am Sep 3, 2019 6:12am
Quoting srmfx
{quote} Excellent entry. I've missed this one on GBPUSD
thanks and an excellent teacher !
  • #2,320
  • Sep 3, 2019 7:25am Sep 3, 2019 7:25am
Quoting stoqn4444
Sort EURGBP, stop 11 pips, 1/2 closed + 12, TP at +40 {image}
The mirror image of your trade.
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