Meanwhile.. a few questions for a better understandingThanks {image}
Trading is as simple as 1-2-3
Hi Lemercenaire,
thanks for your answers
Today has been a very interesting trading day. A lot of new highs and lows were created again and again. Kind of tricky day for the first trades of this method I must say. I did 5 trades (2W/3L)
The most difficult part of this method is waiting for the right entry time once the new high/low has been created. Sometimes I missed the trade because of waiting for "testing" the new high/low that did not happen. And sometimes I opened the position and "re-testing" happened and then a new high/low killed my trades.
The second challenging thing is letting the winners go (BE+1 and Trailing Profit).
Btw. a couple of new highs/lows are forming right now
thanks for your answers
Today has been a very interesting trading day. A lot of new highs and lows were created again and again. Kind of tricky day for the first trades of this method I must say. I did 5 trades (2W/3L)
The most difficult part of this method is waiting for the right entry time once the new high/low has been created. Sometimes I missed the trade because of waiting for "testing" the new high/low that did not happen. And sometimes I opened the position and "re-testing" happened and then a new high/low killed my trades.
The second challenging thing is letting the winners go (BE+1 and Trailing Profit).
Btw. a couple of new highs/lows are forming right now
- #9,506
- Jan 2, 2020 3:28pm Jan 2, 2020 3:28pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Hi Lemercenaire, thanks for your answers
Of course, I know what time of year is and that these market conditions are not standard (if standard conditions could be defined). Don't worry, I'm not making any conclusions based on my first trades. I'm trying a new trading approach, therefore, I want to know how this model works and how I react in any kind conditions... no big deal 
- #9,508
- Jan 2, 2020 5:02pm Jan 2, 2020 5:02pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Of course, I know what time of year is and that these market conditions are not standard (if standard conditions could be defined). Don't worry, I'm not making any conclusions based on my first trades. I'm trying a new trading approach, therefore, I want to know how this model works and how I react in any kind conditions... no big deal
- #9,513
- Jan 3, 2020 3:47pm Jan 3, 2020 3:47pm
- Joined Mar 2012 | Status: Trader | 14,314 Posts
1. Is it mandatory to use the indicators to determine the daily highs and lows or can I use the previous daily candlestick to determine my high and low?
Do you want to trade this method? If yes, then the best way to learn is to use the tools and rules provided.
2. Can I apply the strategy principles to the daily timeframe using the weekly as trading parameters?
Yes, but monthly instead of weekly. Did the previous day make a new monthly high/low?
3. How do set your TP and SL levels?
Set POST #1.
Do you want to trade this method? If yes, then the best way to learn is to use the tools and rules provided.
2. Can I apply the strategy principles to the daily timeframe using the weekly as trading parameters?
Yes, but monthly instead of weekly. Did the previous day make a new monthly high/low?
3. How do set your TP and SL levels?
Set POST #1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #9,514
- Jan 6, 2020 3:01am Jan 6, 2020 3:01am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Short JY +5 locked
Caught this nice set up on the JY used entry trigger which I have been experimenting with. I was reading through the thread to catch up interesting discussions. Over and over again I would just add it is following the rules as laid out by TooSlow. I bend them occasionally but still stay on principle. No tweaks needed just trading. I am probably going to be posting less on here because I am involved in a few other things taking up more of my time. But I will still follow the thread, add comments, and post when I can. But then again you have all seen quite a lot of my stuff here and like I said, nothing new. Good trading to everyone in this great year ahead....2020 
- #9,515
- Jan 6, 2020 8:04am Jan 6, 2020 8:04am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Sweet-as-a-nut move all morning on The DAX.
Price has now made it above the 50-Level, so I will watch to see if it holds. If so, I will let it run, possibly add-in as well. I did the same thing after the 23.6 was breached. If not, I'll cut it. I've done enough baby sitting for one day.
I could say that I had some magic sauce that stopped me from jumping in on the first bar after the LRB - however, in reality, I just missed it as I was busy elsewhere.
Price has now made it above the 50-Level, so I will watch to see if it holds. If so, I will let it run, possibly add-in as well. I did the same thing after the 23.6 was breached. If not, I'll cut it. I've done enough baby sitting for one day.
I could say that I had some magic sauce that stopped me from jumping in on the first bar after the LRB - however, in reality, I just missed it as I was busy elsewhere.
- #9,516
- Jan 6, 2020 9:50am Jan 6, 2020 9:50am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Sweet-as-a-nut move all morning on The DAX. {image} Price has now made it above the 50-Level, so I will watch to see if it holds. If so, I will let it run, possibly add-in as well. I did the same thing after the 23.6 was breached. If not, I'll cut it. I've done enough baby sitting for one day. I could say that I had some magic sauce that stopped me from jumping in on the first bar after the LRB - however, in reality, I just missed it as I was busy elsewhere.
- #9,519
- Jan 7, 2020 2:35am Jan 7, 2020 2:35am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts
- #9,520
- Jan 7, 2020 2:57am Jan 7, 2020 2:57am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Long GU +5 locked
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