^eagle^'s trading method

Well after a few BE sydney scalps I went to bed only to wake up the next morning to find we broke through the Asian box and was setting up nicely at the first aqua X. I plunked down 1.5 times maximum lots only to be greeted by a big spike minutes later. That spike downward stopped me out. As I knew the chatter was all euro positive I entered again as the candles were congesting and the humming birds were dipping. I left for work only to find on my smart phone I was sitting pretty with my stop at BE. Thats when the wedge occurred. (shown by the red thick lines.) the wedge was also ascending further atesting to its strength. I raise my TP up to 1.3620 and starting raising my stop just below the next fractal. It came within a few pips of stopping out before shooting up and missing my original TP by one pip!. I immediately shoved my stop up for another ten and was stopped out for a nice gain minutes later.

Love to end the week on a positive note.

Awesome!!
Amazing how you spotted this. Thanks for sharing!

I assume that the JMASlope_MTF indicator give you the direction of the trade, or do you consider countrarian entries also ?

Trend is an illusion. Its the SLOPE of the trend that is important. A few posts back I showed to not trade against the trend if the slope has exceeded a certain amount.

70% of the time the market is in either congestion or ranging. (there is a difference) Only a small percentage of the time the market trends by a few hundred pips. This is at the higher levels. Its during these times you can make huge gains knowing the market will continue in this direction. But you have to keep your ear to the news to hear the chatter and know when this happens. It takes practice listening to the chatter

http://www.abarim-publications.com/C...l#.UQUjHh2w-Sq
Just another reason why osscilators are useless.

This is a link I found very helpful. Pay particular attention to attractors. Its these static and strange attractors that make up a market. They use the example of a city with or without a supermarket. Supply and demand is the same across any chaotic system whether it be city planning, weather systems or Forex.

Its finding those areas of high probability and capitalizing on them.

I spent five years combing through all the nonsense and came out the other side only a few thousand dollars lighter. Now its payback time.

Nother sydney scalp gone break even. The bulls had it in for me.

I entered at as the spinning top hummingbird was being formed with a market order. Three pips of draw down and now sitting at break even. Love it when a plan comes together. Break even or bust. Looks like a south day as the expirys are all below 1.35. Good luck traders! off to work.

The first X was a BE buy trade. I got distracted and didnt catch the re entry a little further down. Price went up and was shaprly rejected. I entered a large sell trade but didnt like how the m5 wedge was forming. On the m5 It looked as though price was wedging up for a breakout so I killed the trade for a small loss. but when I zoomed in on m1 I saw a clear rejection of price and entered my sell. Plunked down the largest lot I would allow and now sitting pretty with my stop at BE. Looking for a runner this morning.

Off to work! If this one takes off it will be one of my biggest gains ever. Come on Bears

Hi Eagle, long time no see...

Glad you've made your way in trading...
Btw... Am I doing correctly according to your method?

Those red vertical line near the entry is NY.

I dont do EU because I dont like their candles lately.

People may say a lot of things.
But I keep banging those TP with big candles and my 7 pips SL.
Same old job.

" If you trade on M5 during the open, you are not merely trading the candles but you trade what market player minds and behaviour. Think market player as one person and trade that person mind with small SL. At the open if they are not selling then it must be buy."

Good luck with your trading my friend.


NG

Hey Nice guy! Yeah I got a few things from your thread. However I stopped focusing so much on the open of the markets. Instead I just look for areas of congestion or hummingbirds as I like to call them and see if they line up with the fundamentaLS.

When I was working yours I knew you were on to it but I thought it might be expressed a little differently. Focusing more on overall volatility of the session. and support and resistance. I also use a soft stop and may let it ride ten or even twenty pips depending on my lot size. I found the rules for 7 pip to strict. But I know we pretty much trade the same way.

This mornings trade was caught up in a reversal and stopped for BE while I was working. Cant lose by breaking even. I think I just go for the bigger fish and if I get a long run I add to my position as opposed to grabbing a few pips and leaving a small amount ride on the table. when I get a runner I'll show you what I mean. It's hard because I dont have good trade access during NY session.

Humming birtds are humming birds. Havent seen them changed much. Its not the ones that are formed that give me the clue its how price moves as they are forming.

I would have used a limit buy at the bottom to reduce draw down if I saw it early enough. if it was later I would have probably entered right where your did.. You may miss on occasion but its better to be out of a good trade then into a bad one. when you see humming birds look for a small wedge to form showing pressure is trying to force a reversal. sometimes you have to zoom in to m1 to see it but be sure. wedging is the biggest tell tale sign of a reversal.

I entered another buy at the retrace (first red X) with my BE at the brown field and my stop at the big red field. As you can see, price just wandered in the channel for a couple of hours so I raised my stop up to the support of the channel (small red field) and crossed my fingers and went to bed.I got stopped out at the second red X for a small loss. The key to trading is don't lose money. A small loss wont hurt you. Only a big loss will. either by over leveraging, or widening stops.

Later you can see the whipsaws (blue circles) These are dangerous to trade. This often happens in uptrends with the EU during the london and frankfurt opens. If I had a guess as to why it would be because of the exchange of euros to dollars for big europe business and vise versa.

Updated template and indicators for My scalping method. No time to post or play but FREE for the taking and you do you.

Mr. Yen's Sicilian G.O.A.T. chart for MT4!

A few things.
THE EA WILL RESET THE OFFLINE CHART IF YOU CAHNGE ANYTHING. DO NOT CHANGE TIMEFRAMES OR ADD INDICATORS TO THE CHART YOU ATTACH IT TO. IT WILL RESET THE OFFLINE CHART AND YOU WILL HAVE TO START OVER.

I have decided not to post the EA. Just Google FXBlue Tick chart for mt4. It will be the first item. I am not affiliated with them in anyway. They just have a cool free EA and the instructions on how to load it are there. You can load it onto all your MT4 accounts with a few clicks if you follow directions well.

THE EA TAKES TIME TO POPULATE THE OFFLINE CHART WITH TICK DATA. BE PATIENT.

THE EA WILL RESET IF YOU TURN OFF YOUR PLATFORM. IN ORDER TO KEEP THE TICK DATA YOUR COMPUTER MUST REMAIN ON OR RUN ON A VPS.

I attached the indicators, Scripts, and a template to start trading the ES or mES.
You change the tick to 40 for NAS.

Refer all questions about the method to Mr. Yen. Just search for him on YouTube. I just like him and what he is doing for the trading community.