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Trading the Cable swings via averages

  • #7,741
  • Apr 14, 2022 8:34am Apr 14, 2022 8:34am
Quoting yahya11
{quote} yes this is good explanation , actualy my problem is nothing but my psychology i have panic , because i only open a trade which is one standard lot on one thousand account and dont make 2nd and third entries , my all is first and last trade , thats why when stop hit it lost so much. but i dont understand how to make entries clearly , and i always have panic that will signal work or not and i miss trade some time or some time enter when all is done and loss my position , can you have solution for this problem , pleas mentor i really need...
There is no such thing as psychology, it is all in your mind!

This coming weekend I will write a trading plan for you to make $64,000 with your account taking three years or less.

I am not a theoretical person at all, in fact I am the complete opposite. I don't subscribe to the G words invented by man such as Gods, Ghouls, Ghosts, Greys, Gremlins, Goblins, Governments and so on. All of which are designs to make us think in certain ways.

Don't worry at all about people laughing at you, if you were a comedian you would be upset if they didn't laugh. This just smacks of insecurity which is just a product of the lack of knowledge of the subject matter. You may be a master of some other subject of which you would speak very confidently. I learn new stuff all the time and I am amazed at all the stuff I know nothing about.

I'll start on your trading plan and post it here so others might see something they need also.
  • #7,742
  • Apr 14, 2022 8:34am Apr 14, 2022 8:34am
Quoting yahya11
mentor sorry for interrupt but where is my reply i am waiting
Sorry for the wait, I had to think about the reply.
  • #7,743
  • Apr 14, 2022 12:14pm Apr 14, 2022 12:14pm
Quoting Nala66
{quote} There is no such thing as psychology, it is all in your mind! This coming weekend I will write a trading plan for you to make $64,000 with your account taking three years or less. I am not a theoretical person at all, in fact I am the complete opposite. I don't subscribe to the G words invented by man such as Gods, Ghouls, Ghosts, Greys, Gremlins, Goblins, Governments and so on. All of which are designs to make us think in certain ways. Don't worry at all about people laughing at you, if you were a comedian you would be upset if they didn't...
Yours reply is beyond my expectation, I am really happy on your response, you are so polite and you are mentor, no doubt about it, now I am waiting for your trading plan, I believe it will be very successful
Thanks, mentor
  • #7,744
  • Apr 14, 2022 7:50pm Apr 14, 2022 7:50pm
Here on the 4 hour chart we can clearly see the price action of the last few days.

We begin with the swing low average of A. Price makes this level but is now in divergence which implies the stopping of the EMA followed by a test of the opposite side.

Price makes it to the opposite swing high average level B again running into divergence implying a stopping of the EMA and a test of the opposite side C.

Price makes it to this opposite side C but again runs into an RSI divergence implying a stopping of the EMA and a test of the opposite side which is now tiny and the bouncing ball flattens out for the weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 80 KB

Because these average levels are constantly being changed so too does the story of the price action in response.

Doesn't it make sense the market maker is constantly testing the price in both directions to find what the market is willing to pay?
  • #7,745
  • Apr 15, 2022 1:09pm Apr 15, 2022 1:09pm
Yes mentor that was great reading of charts and averages gave us so many clues
  • #7,746
  • Apr 17, 2022 2:01am Apr 17, 2022 2:01am
Hi Mentor, I just post this to remind you that don't forget to work on my trading plan, I am waiting for this

Thanks for you patience
  • #7,747
  • Apr 17, 2022 9:56pm Apr 17, 2022 9:56pm
Quoting yahya11
Hi Mentor, I just post this to remind you that don't forget to work on my trading plan, I am waiting for this Thanks for you patience
I haven't forgotten, if I do forget it is only because I didn't remember.

Attached File(s)
File Type: pdf The need to make a plan.pdf   104 KB | 662 downloads

Have a read of this and see if it helps...Let me know if you have any problems.
  • #7,748
  • Apr 18, 2022 12:36am Apr 18, 2022 12:36am
Quoting Nala66
{quote} I haven't forgotten, if I do forget it is only because I didn't remember. {image} Have a read of this and see if it helps...Let me know if you have any problems.
thank you so much mentor
  • #7,749
  • Apr 18, 2022 1:17am Apr 18, 2022 1:17am
Here is the structure of a typical ten pip trade. See how the total time was 80 mins because this is the Asian session and I don't trade it. I find the London session much quicker so my efficiency is far better.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 82 KB

Having a coloured background like this play havoc with the colour of the boxes, never mind hey!

Note how I can measure the distance to the target and can thus adjust my second entry to make my profit target. In this case I would have had ten minutes to work that out.
  • #7,750
  • Apr 18, 2022 2:11am Apr 18, 2022 2:11am
hi mentor , i read trading plan it is very nice plan to grow account without any tention and panic , but i have to read plenty of time again to understand full concept

now i just want to ask , today market is looking good , volatility is enough and spread is low but today is a bank holiday in eu and in england , should trade today or not because many traders advise should not trade on bank holidays . what you suggest
  • #7,751
  • Apr 18, 2022 3:43am Apr 18, 2022 3:43am
Quoting Nala66
Here is the structure of a typical ten pip trade. See how the total time was 80 mins because this is the Asian session and I don't trade it. I find the London session much quicker so my efficiency is far better. {image} Having a coloured background like this play havoc with the colour of the boxes, never mind hey! Note how I can measure the distance to the target and can thus adjust my second entry to make my profit target. In this case I would have had ten minutes to work that out.
For this ten pip trade, should we get inference from higher time frame or 5mint divergence is enough for ten pips
  • #7,752
  • Apr 18, 2022 4:05am Apr 18, 2022 4:05am
Quoting yahya11
{quote} For this ten pip trade, should we get inference from higher time frame or 5mint divergence is enough for ten pips
If you are also getting inference from the higher time frame then you should be looking to let the trade run well beyond your ten pips so it becomes one of those great days.
  • #7,753
  • Apr 18, 2022 4:07am Apr 18, 2022 4:07am
Quoting yahya11
hi mentor , i read trading plan it is very nice plan to grow account without any tention and panic , but i have to read plenty of time again to understand full concept now i just want to ask , today market is looking good , volatility is enough and spread is low but today is a bank holiday in eu and in england , should trade today or not because many traders advise should not trade on bank holidays . what you suggest
I missed this post sorry...

I don't trade the holidays. However the market does not take holidays unless it is closed.
  • #7,754
  • Apr 19, 2022 2:46am Apr 19, 2022 2:46am
Nice bull div on the hour with a HD long signal on the 5 min, job complete in 20 mins.
  • #7,755
  • Apr 19, 2022 4:28am Apr 19, 2022 4:28am
Quoting Nala66
{quote} I haven't forgotten, if I do forget it is only because I didn't remember. {image} Have a read of this and see if it helps...Let me know if you have any problems.
I have some questions and would like you to answer according to your trading experience
1. If target of day is 1%, what is the risk per trade? 0.3% or 0.5% per trade?
2. How much loss will you take to stop trading for the day? And during the week?

Thank you for putting your heart into writing this plan!
  • #7,756
  • Apr 19, 2022 7:41am Apr 19, 2022 7:41am
Quoting wildfx102
{quote} I have some questions and would like you to answer according to your trading experience 1. If target of day is 1%, what is the risk per trade? 0.3% or 0.5% per trade? 2. How much loss will you take to stop trading for the day? And during the week? Thank you for putting your heart into writing this plan!
1) The target for the day is not 1% it is 1% minimum. The risk is never more than 0.5% but I move this stop quickly so it is often less.

2) Don't know how the answer this question because I don't take any kind of a loss for the day. I would keep trading until I at least got my 1%

By trading the signals we can get it wrong from time to time but the losses are small and easily made up with the winners.

Remember I always have additional lots up my sleeve should I get the opportunity to use them.

The advantage of the small stop is we get to re-evaluate the direction early enough to get back in going in the right direction.
  • #7,757
  • Apr 19, 2022 8:37am Apr 19, 2022 8:37am
One has to understand the purpose of a Divergence in any of its forms.

It is to return price to the average.

If it doesn't make it to the average then it is a dud and price will make a LL or HH be it bullish or bearish.

Now having said that (repeatedly and often) we have a bullish div on the 4 hour which should return it to the average.
We have a bullish div on the hour which should return it to the average.
We had one on the 5 min which should return it to the average.

All three of these came to fruition and then only did we start to get signals to go short.

The 1 hour failed to make a HH average so it tests the opposite side.


All of this have now happened and all of it has been written in this thread time and time again.
Attached Image (click to enlarge)
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Gee I have this spelled out to almost the exact pips and for the life of me I cannot see why you cannot see.
  • #7,758
  • Apr 19, 2022 8:54am Apr 19, 2022 8:54am
Here it is again, 1 hour hits a ZOO point. Div on the 5 min returns price to EMA well over tens pips of profit.
Attached Image (click to enlarge)
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  • #7,759
  • Apr 20, 2022 3:22am Apr 20, 2022 3:22am
Hello my teacher!
After a period of practice and re-learning the basic concepts, I am now starting to trade again with a new account, and I will post my analysis every day to look forward to receiving your guidance.
I started with trade 1 risk 8 pips, after entry 2 i moved my total risk 10 pips, when i added order 3 i translated my total risk to +10 pips. my reward is 1:5. and I will try to achieve 1: 20 as you usually do in the not too distant future
Thank you and good health!
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  • #7,760
  • Apr 20, 2022 4:16am Apr 20, 2022 4:16am
Quoting mrtrung1988
Hello my teacher! After a period of practice and re-learning the basic concepts, I am now starting to trade again with a new account, and I will post my analysis every day to look forward to receiving your guidance. I started with trade 1 risk 8 pips, after entry 2 i moved my total risk 10 pips, when i added order 3 i translated my total risk to +10 pips. my reward is 1:5. and I will try to achieve 1: 20 as you usually do in the not too distant future Thank you and good health! {image} {image} {image} {image}
I was chatting on Skype and I missed that bear signal you have on the 5 min chart, I saw it but too late then. I could have got another 10 pips off it.
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