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T.I.T.W.I.T - Trading System

  • #21
  • Aug 7, 2022 2:54am Aug 7, 2022 2:54am
Quoting Erebus
5 minutes charts? Good luck with that And other mentioned about being a Trading System, much better to be in Trading Journal section That way, only real friends will find and support you And really, good luck with whatever you do
Thank you for the good wishes.
Empty your mind and let the market guide you
  • #22
  • Aug 7, 2022 3:07am Aug 7, 2022 3:07am
5. WHY?

  1. Why should I enter the market now?
  2. Answer: The Set Up

More Detail:
Once all the answers to the previous questions have been considered it is just a matter of being patient and waiting for that one 5 minute candle that signals that it is time to enter the market if either the bulls (for buys) or the bears (for sells) start pushing in my intended trade direction.

I will let price break by one pip and then fire an entry immediately.

Empty your mind and let the market guide you
  • #23
  • Aug 7, 2022 3:33am Aug 7, 2022 3:33am
Here's how I try to train my "eye" by looking at charts of price action 1 candle before the signal candle appears.
I've deliberately left off the date / price as this type of price action is very repetitive in this market.

If anyone is interested, just try thinking of answers to the 4 questions by looking at the above price action.
Who? What? When? Where? I'll post what I was thinking before I took this trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Reading Price Action 1.png Size: 5 KB
Empty your mind and let the market guide you
  • #24
  • Aug 7, 2022 6:14am Aug 7, 2022 6:14am
Quoting SunnyCoast
2. WHAT? What is the current price action telling me? Answer: Look for the build-up, the false highs and lows and the double pressure Build-up Build up is simply when price starts to go sideways for a few candles or more and starts to get squeezed against a barrier or the ema. I want to see this during my specific trading windows. False Highs & False Lows These are 2 candle patterns where the second candle trades above or below the previous candle's extreme price and then closes back inside the previous candle’s range. Depending on where these candles...
Nice!
When will the chart come?
  • #25
  • Aug 7, 2022 7:09pm Aug 7, 2022 7:09pm
EURUSD Aug08 M5 at Tokyo Open GMT0800

- price action range bound within 10 pips of the 25EMA

- BRN and Pivot above current PA

Attached Image (click to enlarge)
Click to Enlarge Name: TITWIT Aug08 M5 Tokyo Open 8-8-2022 8-01-51 am.png Size: 23 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #26
  • Aug 7, 2022 7:09pm Aug 7, 2022 7:09pm
Quoting KevinZeng
{quote} Nice! When will the chart come?
Hi Kevin.
I was hoping to update each of the main "question" posts as I had time but there appears to be a cut off as to how long you have to edit a post.

That's all okay, I'll try to cover each of the 4 questions in more detail using the current market conditions which perhaps might be of more assistance in understanding what I'm seeing and how I actually trade this way.
Empty your mind and let the market guide you
  • #27
  • Aug 7, 2022 7:15pm Aug 7, 2022 7:15pm
Quoting emmanuel7788
EURUSD Aug08 M5 at Tokyo Open GMT0800 - price action range bound within 10 pips of the 25EMA - BRN and Pivot above current PA {image}
Nice! Nice! Nice!

Really appreciate and 100% respect that a trader such as yourself would take the time to post here.
Everyone is welcome here!!

1.0150 could act as a nice magnet for price if there are any quick moves during the Asian session.
I like the "build up" under the 25ema and an obvious level.
Some bulls would still be long from late Friday so that could create some nice double pressure.

Asian session on a Monday. Watching and waiting.
Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asain Open.png Size: 6 KB
Empty your mind and let the market guide you
  • #28
  • Aug 7, 2022 7:46pm Aug 7, 2022 7:46pm
Who? Bears
What? Break below horizontal build up under 25ema. Looking for Pullback with 25 ema touch and False High
When? Asian session (TSE open hour)
Where? Moving towards 50 level below PP

Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asain Open2.png Size: 6 KB
Empty your mind and let the market guide you
  • #29
  • Aug 7, 2022 8:41pm Aug 7, 2022 8:41pm
i have read both pages a great insight by sunnycoast spells it out for traders refreshing
people leave, but this thread will go on for ever
  • #30
  • Aug 7, 2022 9:29pm Aug 7, 2022 9:29pm
Quoting Aussi
i have read both pages a great insight by sunnycoast spells it out for traders refreshing
Aussi! Great to see you stopping by. Perhaps the "nicest" trader on FF.
Don't be a stranger okay, but of course, you keep on doing you!
Empty your mind and let the market guide you
  • #31
  • Aug 7, 2022 10:58pm Aug 7, 2022 10:58pm
Just catching up on the Asian session close.
I took a very nice loss here which I'm actually always happy about.
The decision was very solid and as always I only expect to win around 60 out of 100 trades.
Something I will note early in this thread is that my intention is to show exactly how this way of trading really looks in a live market. I certainly don't over-analyze my wins so of course I don't over-analyze my losses either.
When I enter a trade, I have no idea whether or not it will hit my profit target or my stop loss. It's not my job to worry about that stuff.
All I can do is trade my way to the best of my ability and see if I can put the odds somehow in my favour.

Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asian Session4.png Size: 8 KB
Empty your mind and let the market guide you
  • #32
  • Aug 7, 2022 11:02pm Aug 7, 2022 11:02pm
Who? Bulls
What? Price is now holding above the 25ema and squeezing nicely under possible early bear stop losses = Double Pressure.
Where? Still under PP and 1.02 but looking for these to be a magnet and pull price up.
When? Opening of the 3rd Tokyo Hour
Why? Solid white candle pushing off the 25ema and breaking top barrier.

Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asian Session5.png Size: 9 KB
Empty your mind and let the market guide you
  • #33
  • Aug 7, 2022 11:27pm Aug 7, 2022 11:27pm
Quoting SunnyCoast
{quote} Aussi! Great to see you stopping by. Perhaps the "nicest" trader on FF. Don't be a stranger okay, but of course, you keep on doing you!
ok mate will come in every now and then , kindest regards to you
people leave, but this thread will go on for ever
  • #34
  • Aug 7, 2022 11:34pm Aug 7, 2022 11:34pm
Quoting SunnyCoast
{quote} Hi Kevin. I was hoping to update each of the main "question" posts as I had time but there appears to be a cut off as to how long you have to edit a post.
only #post 1 has no cut off edit time.
ITB - Seeing Orderliness amongst 'Randomness'
  • #35
  • Aug 8, 2022 1:49am Aug 8, 2022 1:49am
Quoting Inthebox
{quote} only #post 1 has no cut off edit time.

we have been moved!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36
  • Aug 8, 2022 1:51am Aug 8, 2022 1:51am
Quoting emmanuel7788
EURUSD Aug08 M5 at Tokyo Open GMT0800 - price action range bound within 10 pips of the 25EMA - BRN and Pivot above current PA {image}
this morning' trade closed -4pips loss

lesson learned > Do Not trade EU during Asian session. Low liquidity.

second M5 trade today taken at Frankfurt open 45thmin M5 candle

Attached Image (click to enlarge)
Click to Enlarge Name: TITWIt EU M5 FO 45min 8-8-2022 2-48-34 pm.png Size: 21 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37
  • Aug 8, 2022 4:55am Aug 8, 2022 4:55am
Quoting emmanuel7788
{quote} we have been moved!
Only just getting back in the office and have seen that. I wouldn't mind a simple explanation as to why this thread should not be in Trading Systems, but I won't be expecting it.

Hope to see more charts from yourself and other traders.
Empty your mind and let the market guide you
  • #38
  • Aug 8, 2022 5:05am Aug 8, 2022 5:05am
2nd trade for today. +10

The 3rd hour of the Asian session can produce some small directional moves.
Price missed my target by about half a pip and eventually hit as Europe was starting to wake up.
Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asian Session6.png Size: 8 KB
Empty your mind and let the market guide you
  • #39
  • Aug 8, 2022 5:09am Aug 8, 2022 5:09am
Quoting emmanuel7788
{quote} this morning' trade closed -4pips loss lesson learned > Do Not trade EU during Asian session. Low liquidity. second M5 trade today taken at Frankfurt open 45thmin M5 candle {image}
Very nice close to manage the loss. Yep, Asian session can be very fickle for the EURUSD can't it!

The 2nd trade during the EU open hour was definitely a setup. I would have loved to seen the signal candle put in a false high before closing bearish. But still it would have been a set up if I was at the charts.

Bulls managed to really hold price in that area before the LSE opens and then that lovely drive up.
Empty your mind and let the market guide you
  • #40
  • Aug 8, 2022 5:14am Aug 8, 2022 5:14am
Attached Image (click to enlarge)
Click to Enlarge Name: Monday Aug 8th Asian Session7.png Size: 10 KB
Empty your mind and let the market guide you
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