{quote} It would be a somewhat complex EA.Entries have to weigh up EMA8 v SMA200, SMA200 break v failure, price v bullish/bearish trendlines, composite RSI (different rules for different instruments), SMA200 heatmap, support & resistance ("look left", and also yesterday's high/low, today's open), trend strength, room to move (distance to ADR high/low), risk on/off, red news avoidance, session/time of day, position size, single or multipart entries, avoiding entries on correlated instruments (too many 'eggs' in similar baskets)........ and...
Roadmap - A Way To Read Markets
- #2,302
- Edited 7:05am Jun 7, 2020 6:12am | Edited 7:05am
{quote} It would be a somewhat complex EA.
- #2,303
- Jun 7, 2020 9:30am Jun 7, 2020 9:30am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #2,305
- Jun 7, 2020 12:30pm Jun 7, 2020 12:30pm
{quote} 'Emergency SL' is nothing but a SL you would set if you were unable to manage your trade manually. As an example in case of emergency hospitalization!. Generally, this has to be placed far away as it will not be touched by the market noise. Away from Yesterday High/Low preferred.
. By the way - for those of you with day jobs, these trades are all in the D1 timeframe (though I checked for reasonable targets in H1). {image}
I am quite intrigued by your approach.
Perhaps over the next few days you could share/post an example or two of your technique?
Would be much appreciated...as a part time trader, full time professional in other aspect
- #2,308
- Jun 8, 2020 2:12am Jun 8, 2020 2:12am
Hi all,
I've been reading this thread for a few weeks now (yes, that's a long time! - I work full time, look after two kids and try to trade ), about time I say hello!
First, thank you Laura for an excellent strategy and especially for your willingness to share and help others. Thanks everyone else in the thread, all your additioanl insights and comments help make the thread what it is.
I've been running with this strategy now for about 3 weeks, with mixed results. Some days I knock it out of the park, other days I get slaughtered. I suspect it's something to do with me not reading the market conditions correctly
Choppy markets seem to take me out, so I'm working on identifying trends better and have started to use trendlines.
Also, my exits suck
Here's this mornings first trade, USDCHF.
I've been reading this thread for a few weeks now (yes, that's a long time! - I work full time, look after two kids and try to trade
), about time I say hello!First, thank you Laura for an excellent strategy and especially for your willingness to share and help others. Thanks everyone else in the thread, all your additioanl insights and comments help make the thread what it is.
I've been running with this strategy now for about 3 weeks, with mixed results. Some days I knock it out of the park, other days I get slaughtered. I suspect it's something to do with me not reading the market conditions correctly
Choppy markets seem to take me out, so I'm working on identifying trends better and have started to use trendlines.
Also, my exits suck
Here's this mornings first trade, USDCHF.
We are what we repeatedly do. Excellence, then, is not an act, but a habit
{quote} This is well explained by coolsjc and you can also read LauraT's explanation here. Also search for "emergency" on LauraT's profile page to get 12 other comments.
- #2,311
- Jun 8, 2020 3:13am Jun 8, 2020 3:13am
- | Joined Apr 2008 | Status: Trader | 1,040 Posts
Good Trading
- #2,315
- Jun 8, 2020 3:33am Jun 8, 2020 3:33am
{quote} Hence the risk of trading a broken trend line!
Thanks for your comment
It may not be clear on how I have annotated the chart, but I entered just before the break of the trendline, on a rejection of the trendline. The next bar broke the trendline for the first time. Unless you mean something else?
We are what we repeatedly do. Excellence, then, is not an act, but a habit
- #2,316
- Jun 8, 2020 3:38am Jun 8, 2020 3:38am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #2,317
- Jun 8, 2020 3:42am Jun 8, 2020 3:42am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #2,318
- Jun 8, 2020 3:45am Jun 8, 2020 3:45am
{quote} And if he Looked Left he would have seen a wall of resistance.
If I dial out to the hourly chart, I can see resistance at ~0.9636... Is this what you are referring too? Guess I didn't look that far out.
We are what we repeatedly do. Excellence, then, is not an act, but a habit
- #2,320
- Jun 8, 2020 4:29am Jun 8, 2020 4:29am
- | Joined Apr 2008 | Status: Trader | 1,040 Posts
{quote} Hi Aud, Thanks for your comment
Good Trading