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  • #781
  • Apr 28, 2020 5:27am Apr 28, 2020 5:27am
Quoting LauraT
{image} Dax trade from Yesterday's High.
Nice trading again Laura, caught the DAX move myself. Just wondering, are these trades posted when you enter in the journal page? Cheers
  • #782
  • Apr 28, 2020 5:30am Apr 28, 2020 5:30am
Attached Image (click to enlarge)
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Exited both trades at red x, maybe a bit premature but happy with the pips
  • #783
  • Apr 28, 2020 5:30am Apr 28, 2020 5:30am
Here's a DAX trade from earlier this morning. Price was stuck in a range between SMA and Daily Open so tension was bulding up with bullish bias. I exited near Yesterdays High which was broken right after

Attached Image (click to enlarge)
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Here I split my postion in order to target two different levels (Daily Open and Yesterdays Low) on EC. As soon as as the first target was hit I moved my SL for the remaining position to BE.

Attached Image (click to enlarge)
Click to Enlarge Name: EC.png Size: 118 KB
  • #784
  • Apr 28, 2020 5:33am Apr 28, 2020 5:33am
Quoting james.trades
{quote} Nice trading again Laura, caught the DAX move myself. Just wondering, are these trades posted when you enter in the journal page? Cheers
Hi - thanks

No, I don't post my setups in advance here as I do not want to become a signal service or for others to copy my trades and risk losing money.
  • #785
  • Apr 28, 2020 5:34am Apr 28, 2020 5:34am
Quoting optitrader
{image} Exited both trades at red x, maybe a bit premature but happy with the pips
Good result
  • #786
  • Apr 28, 2020 5:34am Apr 28, 2020 5:34am
Quoting Meerrettich
Here's a DAX trade from earlier this morning. Price was stuck in a range between SMA and Daily Open so tension was bulding up with bullish bias. I exited near Yesterdays High which was broken right after {image} Here I split my postion in order to target two different levels (Daily Open and Yesterdays Low) on EC. As soon as as the first target was hit I moved my SL for the remaining position to BE. {image}
Well done - good use of partial profit taking
  • #787
  • Apr 28, 2020 5:43am Apr 28, 2020 5:43am
Attached Image (click to enlarge)
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UJ. seems like a good place to short especially price starts rejecting adr high. +25 to yesterday low

Attached Image (click to enlarge)
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UC. shorted this pair too too bad this didnt work out. price spiked up to my tight SL then move south. -5 pips
  • #788
  • Apr 28, 2020 5:49am Apr 28, 2020 5:49am
Quoting jacktrader1
{image} UJ. seems like a good place to short especially price starts rejecting adr high. +25 to yesterday low {image} UC. shorted this pair too too bad this didnt work out. price spiked up to my tight SL then move south. -5 pips
Good UJ trade

Why such a tight SL on UC?
  • #790
  • Apr 28, 2020 5:54am Apr 28, 2020 5:54am
Hi Laura, just been reading through your journal. Can you help clarify a question I have on your advanced type trades:

The four advanced strategies are:

1. ADR Failures - When the EMA channel gets partially across the ADR line but then returns to the previous side.

2. Previous Day High/Low Failures - When the EMA channel gets partially across the high/low line but then returns to the previous side.

3. ADR Counters - When an instrument has completed the Average Daily Range I consider entering to capture a reversion to centre ground.

4. Previous Day High/Low Counters - When an instrument has reached the high or low of the previous trading day I consider entering to capture a reversal.

Isn't 2&4 the same, and 1&3 the same?
  • #791
  • Apr 28, 2020 5:59am Apr 28, 2020 5:59am
Quoting andys0506
Hi Laura, just been reading through your journal. Can you help clarify a question I have on your advanced type trades: The four advanced strategies are: 1. ADR Failures - When the EMA channel gets partially across the ADR line but then returns to the previous side. 2. Previous Day High/Low Failures - When the EMA channel gets partially across the high/low line but then returns to the previous side. 3. ADR Counters - When an instrument has completed the Average Daily Range I consider entering to capture a reversion to centre ground. 4. Previous Day...
Hi

No, not the same. It's the equivalent of a channel failure and a channel cross but for ADR lines and Yesterday's High/Low lines.

Does that make sense?
  • #792
  • Apr 28, 2020 6:04am Apr 28, 2020 6:04am
Quoting LauraT
{quote} Good UJ trade Why such a tight SL on UC?
yea that was my careless mistake. i couldnt be infront of pc to monitor how price react should it revisit the ADR high, so i placed a SL 1 pip above the adr high. anyway, better be safe than sorry haha. plenty of opportunities even i missed this one out.
  • #793
  • Apr 28, 2020 6:07am Apr 28, 2020 6:07am
Quoting jacktrader1
{quote} yea that was my careless mistake. i couldnt be infront of pc to monitor how price react should it revisit the ADR high, so i placed a SL 1 pip above the adr high. anyway, better be safe than sorry haha. plenty of opportunities even i missed this one out.
Ah, I understand Yes, nothing wrong with keeping your loss small if you can't monitor trade.
  • #794
  • Apr 28, 2020 6:12am Apr 28, 2020 6:12am
Quoting LauraT
{quote} Hi No, not the same. It's the equivalent of a channel failure and a channel cross but for ADR lines and Yesterday's High/Low lines. Does that make sense?
Umm not sure. Surely a 'failure' is the same as a counter because if price returns to previous side, it is also reverting to mean?
  • #795
  • Apr 28, 2020 6:19am Apr 28, 2020 6:19am
Quoting andys0506
{quote} Umm not sure. Surely a 'failure' is the same as a counter because if price returns to previous side, it is also reverting to mean?
I'm doing a bad job of explaining it so I'll try with a live chart.

Attached Image (click to enlarge)
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If I had gone short at the first orange blob, that'd be an ADR Counter.

At the second orange blob, there is a potential ADR failure setting up (if channel goes back under the ADR line).
  • #796
  • Apr 28, 2020 6:25am Apr 28, 2020 6:25am
Quoting LauraT
{quote} I'm doing a bad job of explaining it so I'll try with a live chart. {image} If I had gone short at the first orange blob, that'd be an ADR Counter. At the second orange blob, there is a potential ADR failure setting up (if channel goes back under the ADR line).
I guess that would be the risky ADR reversal trade?
  • #797
  • Apr 28, 2020 6:28am Apr 28, 2020 6:28am
A few trades today. Some good, some bad. Again missed some trades, can't be on the screen all day, or maybe I just need to move to M15.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-28 13_13_42-20232601_ ICMarkets-Demo02 - Demo Account - [EURCAD,M5].png Size: 104 KB
Click to Enlarge Name: 2020-04-28 13_14_33-20232601_ ICMarkets-Demo02 - Demo Account - [EURGBP,M5].png Size: 79 KB
Click to Enlarge Name: 2020-04-28 13_15_06-20232601_ ICMarkets-Demo02 - Demo Account - [USDJPY,M5].png Size: 63 KB
Click to Enlarge Name: 2020-04-28 13_15_26-20232601_ ICMarkets-Demo02 - Demo Account - [CADJPY,M5].png Size: 92 KB
Anything above the line is an uptrend, below the line is a downtrend.
  • #798
  • Apr 28, 2020 6:28am Apr 28, 2020 6:28am
Quoting LauraT
{quote} I'm doing a bad job of explaining it so I'll try with a live chart. {image} If I had gone short at the first orange blob, that'd be an ADR Counter. At the second orange blob, there is a potential ADR failure setting up (if channel goes back under the ADR line).
Thanks gotcha! Trade direction is the same, entry point is different. Thanks for all your contributions!
  • #799
  • Apr 28, 2020 6:28am Apr 28, 2020 6:28am
Quoting karun
{quote} I guess that would be the risky ADR reversal trade?
Absolutely.
  • #800
  • Apr 28, 2020 6:30am Apr 28, 2020 6:30am
Quoting LauraT
{quote} Hi Wait for channel to cross SMA200, yes. Or, if trading a channel failure, wait for channel to partially cross SMA200 and then go back under/over. Once you have the entry criteria, you don't have to wait for price to touch other side of channel. You can enter when price goes inside the channel. MTF dashboard doesn't have to be all green for longs. Aim for at least 2 of the timeframes relevant to your trading timeframe to be in agreement with your bias. So, M1-M30 for short-term trades and H1-W1 for longer term trades. Hope that...

Thanks Laura, Makes perfect sense...
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