Intraday Trading - Live!

This trade is going against my gut. But, the system says is a go, so here we go. I will be moving my SL to BE as soon as it hits TP1 instead of the usual TP2. That is if it hits TP1.

Short GBP/JPY @ 207.6

SL – 208.5

TP1 - 50%, 207.10 ----- Move SL to BE.
TP2 - 25%, 206.85
TP3 - 25%, Open

Oops, went into this trade looking at the stoch on the wrong time frame. Not really a signal. Oh well, in the trade now I guess I will leave it on.

what about spot gold?.....buy 921.80 tp 940 sl 902

Closed half the trade at TP1 and moved the SL to BE.

Edit 1: TP2 Filled, closed half of remaining position.

oo7_ts

oo7_ts

Good time to close the last quarter of the trade above.

oo7_ts

Buy GY if it goes back up to 204.10

SL 203.35

TP1 - 50% @ 204.60
TP2 - 25% @ 204.85 - Move SL to BE if price reaches TP2
TP3 - 25% @ your own discretion.

oo7_ts

thankz oo7_ts

Stopped out on this one.

oo7_ts

I really don't like getting stopped out by 2 or 3 pips and then watching the trade go in the right direction. Getting stopped out is part of the business, but by a couple of pips is totally annoying.

oo7_ts

Please i need to know more about gj........

I can't think right now - too tired from working too many hours this week. I'm going to take a nap and then I will explain how I look at the GJ.

One thing I can tell you right now though is, if you want to wipe your account out in a hurry, just mess with GJ.

Okay, I will get back to you after my nap.

oo7_ts

I am going to try to explain as best I can how I look at the GY chart and determine which way to trade. I don’t have photo editing software, so you will have to forgive me for the crappy illustrations on the charts.

Okay, this is a 30M Heiken Ashi Candle Chart (HLOC candles don’t show trends as well). I only look at signals when the Stochastic (Settings: %K: 28, %D: 3, Slowing: 4, MA Method: Simple) is “Over Sold” or “Over Bought” as shown by the green and orange ovals. If over sold I look for longs and if over bought for shorts. A signal for a long is when the wick and the body of the last candle are higher than the candle before it and a sell signal is when the wick and the body of the last candle are lower the candle before it. Each one of the arrows in the following chart shows a signal.



Now before I enter a trade on any of those signals though I will check the 1H and the 4H charts to see if they look like they support the trade. If either of the charts is just coming out of over bought when you have a buy signal it is wise not to take the trade and the same for a sell signal. You can trade this just looking at the 30M chart, but there is a higher level of risk. The following chart shows what I mean.



Notice how the Stochastic is just coming out of the over bought area on the first three buy signals? Even on the 4th buy signal I would have liked for the stoch to have been a bit lower already, but if you look at the candle before that last buy signal, it was a shorter candle than the one prior, which tells me that there is a possibility that the short move is coming to an end and that the buy could be a success. Because of that, the 4th signal I would not hesitate to take.

We are trading the GY, which has huge moves to say the least. You will have to use big stop losses to accommodate these moves and to stay in the trade long enough to give it a chance. I use 75 pips for my stop most of the time, and quite often it seems a bit too tight even. You will have to decide how much you want to risk per trade and trade lot sizes accordingly. Trading the GY with a stop of less than 75 pips is just asking to get stopped out IMO.

That’s pretty much it in a nutshell. I hope you find it useful.

Oo7_ts.

PS. I should mention that the first call in this thread is the first trade I took using this system, so there is no track record to speak of. I have no idea if this will be a good system in the long run. I developed this system, because I have little time to trade and this is sort of a set and forget system to allow me to go about other business as required.

Found a topic without a moderator. The author of the branch, I think, will not appear here with a scythe. The last time it was in 2009. Join us, everything is possible here within the framework of the law and the rules of the forum ...

I will join in next week and post some trade calls (for my practice ). No reasons behind since I am not going to give away my edge. All I want to do is sharpen it.

Mr. Wolf, hope you and others can make LIVE calls when you wish. Or not, if you wish not.

I'm very different to you (and that's just fine). My sweet spot is 10-20 trades a day, with no concern about price, and not FOREX.

Wow a thread from the dead. Currently short on EUR/JPY.

I am subscribed to this thread, if you need to write. I will follow the topic.

controlled by external variables in the settings. If there are not enough lines at the top or bottom, you can add the number of lines. The adjustable number of days can be viewed in history. This is not the main indicator for trading, but it is interesting for its concept of the algorithm.

interesting, I will study that tomorrow, thank you. I think I use lines even more than you, however.
Some of today's premarket trades (the other ones were not so clean, whilst still profitable). At this stage, I've basically got it, just need more practice and patience.
Don't mind the scrubbed chart.

Good trading to all.

Well, not very LIVE haha, but here's how the practice went today:

Today did the Nasdaq (seems easier than the Rus). I would call today’s practice session a success.
If only I had a decent account size to trade it properly. Need a backer! Lol, off to sell my toy Porsche haha.

Trade 1: there were actually 2 buy signals, I took the second. Added some more, so long 11 MNQ. Closed near top at good point.
Approx. points…3*97+8*64 = 803

Trade 2. Short 6, then added 3 at another top just before the drop, and 2 more at a final bounce = 11 short MNQ. Closed 7, then 2, then finally 2.
Approx. points…7*62+2*85+2*70 = 744

L my model got the bottom pinpoint, but I jumped in 1-2 minutes early. PATIENCE!

Trade 3. Long 17. Note, I am away from the screen after this so I have cut 9 here. I cut another 3 at 1672, not shown on the chart....This one has a 20 point hard stop (1591), holding 5 till 345pm-405pm…I would re-assess the final closing point then, if I am right. If wrong, no problem.
Approx. points…4,4,6,6,7,7,12,12,12,61,61,61 = 253 and holding 5 long from 16311

the last 5 would be out at 16357 so that is
Approx. points…4,4,6,6,7,7,12,12,12,61,61,61 + 46,46,46 = 391

total points = 1945 * 5$ = 9725

if they were normal contracts, not mini, that's 50k.