Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
- #5,903
- Jul 18, 2020 12:20pm Jul 18, 2020 12:20pm
New Version "smTMMS-RobinHood DB_v2.2" You can now adjust the colors for the arrows and for highlighting the fields with convergent signals. {image} {file} {image}
Can You please make adjustment in height! I have already adjusted TimeFramePanels_Width,
Thank You sir!
- #5,910
- Edited 1:11am Jul 23, 2020 12:53am | Edited 1:11am
- Joined Aug 2018 | Status: Trader | 343 Posts
{quote} How's the DAX been for you today? I've been trading it on the 1m & 5m chart but just can't get any good set-ups today, seems very choppy
a good 40 - 60 pips missed. So I took the rest of the day off pissed with my lack of patience lol....was not in the frame of mind to trade....But it has caused me to look for mechanism to handle the choppy market conditions which im working on this morning, will give it a try once again. But patience is so important... (what if we could have a 7 / 8 pip target, with a 4/5pip step and maybe a breakeven trigger) yesterdays conditions needed such a trailing stop.) -scalpers dream LOL
Tip: when you see all conditions align on the 1, 5, 15 with RSI crossed 50line and diving on all 3 TF's you can expect atleast a min 50pip move.... I mostly rely on the RSI to decide when to bank and if I can open again the RSI starts to change direction when sentiment starts changing that really is a saviour, well then again it depends how you're trading it and your position sizing whether you account for 20pip retractions or not.
Have a good day bud. ps. There is a DAX futures thread by a sincere italian guy called Brixen on here, try to get yourself in there... us Dax traders congregate over there for the days action, everyone is sharing great insights, might help with some extra caution alerts!!!
The more you learn, the more you see
- #5,913
- Edited 7:22am Jul 23, 2020 4:43am | Edited 7:22am
- Joined Aug 2018 | Status: Trader | 343 Posts
{quote} Thanks for the help mate. You mentioned to enter when 1,5 & 15 align. Do you check any other timeframes, for example, if 4hr or daily is bullish you only buy, or will you find yourself buying and selling throughout the day? Also what broker do you use? Think my spread is too high for a short scalping strategy. Thanks, will take a look at the group.
In my experience all brokers are shady in some capacity but these are the devils I know lol for want of a better expression.I focused on the 1 minute TF thats where I enter and exit. I use the 5min and the 15min to hint at how strong the tidal wave is thats coming, some days I dont even bother looking at the 4h/ 1day its totally irrelevant for me, Im opening anc closing trades in real time based on "what I see in the NOW" thats all that matters... soon as a trade setup is no longer valid close trade immediately dont get trapped into thinking 'let me see if it will come back DONT!!!. so that spindle / consolidated candle/ bar or price being pushed up or down (long tail) is also a hint. This style of trading is Probability management so you've got to ride the waves as they come if setup is confirmed....opening and closing trades / cutting short losses i.e. conditions have changed/ trend is now in the opp direction VERY IMPORTANT get out of the trade... by the end of your session you should be in the plus!!! I find if you're on the 1 minute and candles are medium / TMMS vol looking small -med/ RSI not too great you can lock in 8 to 12 pips *in 1 of my previous posts you'll see I set 8 - 10pip TP's* / if 5min chart is validating youre heading to 20 -30pips, if 15min chart and candle is involved that candle has 30pips. All 3 with a diving RSI 50 - 70 pips but there are retractions in between so you have to not be greedy have a target profit (know what your goal is) on any move get in and out, and be content. The person who contiguously goes looking for more here gets caught out. Sometimes when there is a big move I leave it open and then watch the RSI (1minTF) if it turns back then I bank. (keep an eye on the 5min and 15min RSI they also start to turn simultaneously when theres a reversal coming
)See the image attached based off todays movement, (sorry about my arrows, i dont have editing software lol) if you open only trades where the RSI has crossed you will be safe. Tmms Vols also hint if the move is growing or not and then start to drop/ bars smaller, showing its about to end.
if you caught half the pips in this movement you'd have 150pips
because we are riding the elevator on the 1min we not like people on higher TF trends watching their money go back and fourth we're enjoying all that up and down and banking it We are literallly getting on and off each trend from long to short when we feel a valid setup strength conditions are confirmed!Please feel free to ask if you need to know anything further.... dont trade small candles, tmms vol bars small ...
PS. with the know your goal or target I calculate 8 trends this morning, now based on candle size can help you determine whether to lock 8, 10 - 15 or 20pips as a target .....I calculate atleast 8 decent trends from this morning meaning if you set 10 to 20 pip targets or simply waited for the setup to not be validated you would have atleast 80pips, but i wouldnt advise on the waiting for the setup to close, ive realised having your target and banking it is the best case scenario... because the retractions to close of setup can take back half or all your profit.
The more you learn, the more you see
