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My Grid / My System

  • #221
  • Aug 5, 2022 11:47am Aug 5, 2022 11:47am
Quoting OAPDave
{quote} {image}
Good, but you can be and need to be more specific when identifying a level because of the C and D scenarios i recently posted about. Just stick to the trend line tool and mark your charts like mine.
MY GRID. Markets are NOT random.
  • #222
  • Aug 5, 2022 3:15pm Aug 5, 2022 3:15pm
Quoting tonyb123
{image}
hmm not 100 % sure about this entry, I understand the direction but the place? Could you elaborate a bit more Tony?
I would imagine that the entry is off a smaller grid than the one on the chart.
Or that if off this grid market needs to do a retrace back to C.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: GB4h 50 Tonys.png Size: 27 KB
  • #223
  • Aug 5, 2022 4:42pm Aug 5, 2022 4:42pm
Quoting tommiho
{quote} hmm not 100 % sure about this entry, I understand the direction but the place? Could you elaborate a bit more Tony? I would imagine that the entry is off a smaller grid than the one on the chart. Or that if off this grid market needs to do a retrace back to C. Thanks {image}
Yes it is off a smaller grid. Look at the size of the grid, its 50 pips.
MY GRID. Markets are NOT random.
  • #224
  • Aug 5, 2022 4:44pm Aug 5, 2022 4:44pm
Quoting tonyb123
{image}
This entry confuses me as well.
Probably not off smaller grid since this is already at 5.
  • #225
  • Aug 5, 2022 4:49pm Aug 5, 2022 4:49pm
Quoting tommiho
{quote} This entry confuses me as well. Probably not off smaller grid since this is already at 5.
Just me scalping small pip moves because I was bored. This was the 3rd trade I took a buy, sell and this buy from this grid.
MY GRID. Markets are NOT random.
  • #226
  • Edited 8:43pm Aug 5, 2022 5:13pm | Edited 8:43pm
Quoting tonyb123
{quote} Just me scalping small pip moves because I was bored. This was the 3rd trade I took a buy, sell and this buy from this grid.
so you didn't enter at a specific location, you just entered with the predicted direction?
  • #227
  • Aug 6, 2022 3:06am Aug 6, 2022 3:06am
Took this trade yesterday, for the practice sake on small grid 2.5.
While I was waiting for it there was ABCD completion, (lime green). It was more like A - B - D, skipping C entirely.
So I wonder was my trade valid when the ABCD pattern completed beforehand?

I can also see here what Tony mentioned, that if trade zooms from A to D skipping C there is opposite direction trade opportunity.
What sort of SL should we account for since it is a counter trade to completed sequence? The same distance as we would take the trade in the direction of the ABCD pattern?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: EU15 2.5.png Size: 40 KB
  • #228
  • Aug 6, 2022 9:24am Aug 6, 2022 9:24am
Quoting tommiho
{quote} so you didn't enter at a specific location, you just entered with the predicted direction?
Yes.
MY GRID. Markets are NOT random.
  • #229
  • Aug 6, 2022 9:49am Aug 6, 2022 9:49am
Quoting tommiho
Took this trade yesterday, for the practice sake on small grid 2.5. While I was waiting for it there was ABCD completion, (lime green). It was more like A - B - D, skipping C entirely. So I wonder was my trade valid when the ABCD pattern completed beforehand? I can also see here what Tony mentioned, that if trade zooms from A to D skipping C there is opposite direction trade opportunity. What sort of SL should we account for since it is a counter trade to completed sequence? The same distance as we would take the trade in the direction of the ABCD...
This account I use for posting is my LIVE DEMO account. I recommend practicing a strategy with a live account so you can experience the emotions that come with losing money, it is the tool that fosters discipline and caution.

Great observations, you are catching on quickly. I would not go below 5 pip grid, anything lower would be harder to get an exact level based on the time of day and spread of your broker. Stick to the base grids. I probably should not have included my goofing around trades.

The ABCD skipping C is the pattern I was explaining. That move has a high chance of reversing based on the ADR being exceeded if using a 10 pip grid. Keep in mind nothing is 100% and if using a smaller grid it would have to by necessity be more than a single ABCD completion.

The stop loss is 50-55 pips if you get an exact entry on the D level, especially on high impact news events. Keep in mind the pair traded some pairs move more with news than others. If using a heavy lot use a 25-30 pip stop.

At this point I might as well mention this is how I enter counter ABCD trades without waiting for the C. I am anticipating the C level in advance of it taking place. I do not want anyone to think I am trading candle formations but I am waiting for a level to touch; A, B, C, D and going to a smaller chart time frame and looking for a reversal candle close. I already have a high confidence that the trade will win but any assurance can help of course.
MY GRID. Markets are NOT random.
  • #230
  • Aug 6, 2022 11:32am Aug 6, 2022 11:32am
Hi Tony,
thank you for answers and subscription. Appreciate that.
The longer I look at your posts the more and more dots are connecting.
Now I think I see why you asked us to plot the ABCD from the very beginning of the chart history.
Because we can take advantage of completed and not completed ABCDs to position us in the right direction.
The bigger the grid the bigger importance of the direction.
We then go lower and lower until we arrive at the current price but with the knowledge of patterns whether completed or still in play and we can plot our 10 pip grid on lets say 100 pips C and go with it. Or D or A, I hope you know what I mean.
Yep now when I look at it it kind of makes more sense. Now the question is, is this what you were trying to tell us ?
Thanks
  • #231
  • Aug 6, 2022 11:54am Aug 6, 2022 11:54am
Quoting tommiho
hi tony, thank you for answers and subscription. Appreciate that. The longer i look at your posts the more and more dots are connecting. Now i think i see why you asked us to plot the abcd from the very beginning of the chart history. Because we can take advantage of completed and not completed abcds to position us in the right direction. The bigger the grid the bigger importance of the direction. We then go lower and lower until we arrive at the current price but with the knowledge of patterns whether completed or still in play and we can plot...
you are 10000% correct!

Everyone following should take note of this summation.
MY GRID. Markets are NOT random.
  • #232
  • Aug 6, 2022 1:14pm Aug 6, 2022 1:14pm
I find the 5 min chart setting 50 gives pretty clear direction the past few sessions.....but once a completed ABCD, I only begin scaling into the trade in case the larger trend overwhelms the smaller timeframe....found some really nice trades this way this week for 25-50 pips...before and after two days of market moving news....
Attached Image (click to enlarge)
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  • #233
  • Aug 6, 2022 1:34pm Aug 6, 2022 1:34pm
Also noticed the importance of having an overall, one glance panel to alert one to levels being challenged.... chart management is a challenge for old and new traders alike....having this profile set up on the currencies you like to trade really helps tracking what is going on today...lol
Attached Image (click to enlarge)
Click to Enlarge Name: FPMarkets MT4 Terminal all grid timeframes (2).png Size: 38 KB
  • #234
  • Aug 6, 2022 2:00pm Aug 6, 2022 2:00pm
Quoting Swede
I find the 5 min chart setting 50 gives pretty clear direction the past few sessions.....but once a completed ABCD, I only begin scaling into the trade in case the larger trend overwhelms the smaller timeframe....found some really nice trades this way this week for 25-50 pips...before and after two days of market moving news.... {image}
Quoting tonyb123
just stick to the base grids and colors like mine, so I can provide you a speedy learning curve. Level thickness / type is all the changes acceptable for now. Don't change colors, delete lines. Plot your ABCD's like mine either 50% or 100% A to B. Grid size 5, 10, 50, 100 is fine. For now. Again, PLZZZZZZ.
You are correct but keep your lines color visible.
MY GRID. Markets are NOT random.
  • #235
  • Aug 6, 2022 2:18pm Aug 6, 2022 2:18pm
Quoting Swede
Also noticed the importance of having an overall, one glance panel to alert one to levels being challenged.... chart management is a challenge for old and new traders alike....having this profile set up on the currencies you like to trade really helps tracking what is going on today...lol {image}
This is why I do a all time mapping of the ABCD's and save it in a template.
Like this:
Quoting tonyb123
{quote} Good, I am providing some analysis for this pair with 50000 grid and 10000 grid. {image}{image}
Then I would change the grid again to 5000 and 1000 and map the completed ABCD's into the current price. At most I will have 3 charts if need be, of one market. So if you have multiple pairs your trading 5 charts of each, 10- 20 pairs, it will drive you mad and if your cpu is old or slow it may get mad at you as well.
MY GRID. Markets are NOT random.
  • #236
  • Aug 6, 2022 5:07pm Aug 6, 2022 5:07pm
Here is the GBP/USD all major grid sequences
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: GBP ALL.png Size: 28 KB
MY GRID. Markets are NOT random.
  • #237
  • Aug 7, 2022 11:18am Aug 7, 2022 11:18am
Here is silver top grid down
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Attached Image (click to enlarge)
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This is the off base grid of 250. 500/2=250. I used this to minimize the amount of lines on the chart, I would like to see someone complete the 100 and 50 base grid sizes to the current market day. same type of format / labeling only.
Attached Image (click to enlarge)
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MY GRID. Markets are NOT random.
  • #238
  • Aug 7, 2022 11:50am Aug 7, 2022 11:50am
Grid 100 unmarked.
Attached Image (click to enlarge)
Click to Enlarge Name: XAGUSDWeekly100.png Size: 28 KB
MY GRID. Markets are NOT random.
  • #239
  • Aug 7, 2022 1:40pm Aug 7, 2022 1:40pm
Looks interesting Tony. Will need to go through the posts again and have a play. Thanks for sharing.
  • #240
  • Aug 7, 2022 2:30pm Aug 7, 2022 2:30pm
Will give it a go.
Attached Image (click to enlarge)
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