Flying Dutchman | Page 189 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Equity millipede & Flying Buddha trading journal 9 replies

Flying buddah pattern 20 replies

Build an Equity Millipede with the filtered Flying Buddha 171 replies

Flying buddha pattern 12 replies

16/10/'07 - Crude oil and Greenback flying in opposite directions. 0 replies

Attachments: Flying Dutchman
Exit Attachments

Flying Dutchman

  • #3,761
  • Oct 6, 2022 3:58am Oct 6, 2022 3:58am
Quoting TimeTells
{quote} Nice trade FWR, Everyone has their way of looking at charts, which is absolutely great with me, And I can see the footprints of what I like to call the repeatable market mechanics in your chart above also. From the chart-time 09:12 to 09:49 the market went into an inflection point (the 5min chart shows it well) with a range of about 8-9 pips and you timed the imminent breakout very nicely. From the breakout down to the close at BRN 0.65000, by just trading horizontal lines. Well done. If we keep looking LEFT on the chart to notice which...
Thanks for the nice words TT.

I saw that 9 pip range much easier on the 15 min chart but traded the 5 min. Looking at the 1 min helps with post analysis of the hindsight kind, but I can't trade the 1 min well. Even though AU is giving more pips by now I am happy with the 10 as that is the process and was the target.
Yes the horizontal lines are most helpful.

Cheers...
  • #3,762
  • Oct 6, 2022 5:33am Oct 6, 2022 5:33am
I am suffering from severe PE , I mean premature Exit . can someone please guide me on how to deal with this? if I hold on to trade then the SL gets hits however whenever I TP a small profit.... it goes for a healthy run. Please help.
Success = Practice + Patience + Persistence
  • #3,763
  • Edited 6:20am Oct 6, 2022 5:59am | Edited 6:20am
Quoting ZeroLag
{quote} Indeed. Looking for shorts only today in the EURUSD...EURJPY also The level placement, along with price reaction, or lack of, seem to provide a decent filter for trade candidates. {image}
Basically,

1. mark the range between open and close of the previous 2 days; then
2. wait for return to the breakout area from a previous low (if selling) to occur for entries, I think they call it zone flip or support turns resistance vice versa. (recalibration of value)

If we look at it, when price devalued from the close (of the last 2 days), it follows that it may return for fair price at open (of the last 2 days).

So I think the logic in your trades make sense.

Do you care to explain your theories and observation? Thanks
The market hides a perfect geometry.
  • #3,764
  • Oct 6, 2022 7:16am Oct 6, 2022 7:16am
Quoting fxpider
I am suffering from severe PE , I mean premature Exit . can someone please guide me on how to deal with this? if I hold on to trade then the SL gets hits however whenever I TP a small profit.... it goes for a healthy run. Please help.
2 trades at entry. close first one at first small target, let other one run and it either hits the main target or stops out (make sure the stoploss would not give u an aggregate loss over the 2 trades). That's one way. I know, it can be a frustrating way to trade tho, with many breakeven stopouts, but u mind find over many trades that you start to find a main target (whether that is in pips or some other measurement) that has an acceptably high hit rate.
  • #3,765
  • Edited 1:39pm Oct 6, 2022 1:09pm | Edited 1:39pm
Quoting FulMargnAlch
{quote} Do you care to explain your theories and observation? Thanks
I'm not sure if I have any theories per se, and if I do, I probably won't make sense explaining them. Here are the basic points of my analysis using this method.

1. Did yesterdays PA touch the Open(if so, discard)
2a. If the Close is greater than the Open and yesterdays PA closed below the Close, look for shorts when below the Close
b. If the Close is less than the Open and yesterdays PA closed above the Close, look for longs above the Close
3. Observe the distance between Open/Close(discard if they are too close together, prefer some spacing)


Hopefully, this makes some sense.

Took a small loss on AUDCAD, but had a win on EURUSD for today. Did not trade EURJPY. Will have a look again tomorrow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 22 KB
Click to Enlarge Name: AUDCADH1.png Size: 23 KB
Get the Lag out
  • #3,766
  • Oct 6, 2022 4:27pm Oct 6, 2022 4:27pm
Quoting fxpider
I am suffering from severe PE , I mean premature Exit . can someone please guide me on how to deal with this? if I hold on to trade then the SL gets hits however whenever I TP a small profit.... it goes for a healthy run. Please help.
You need to contain your excitement when active, dont go after the fast exotic volatile victoria secret models, try something a little bit more predictable , boring and less likely to heat you up emotionally. Take regular cold showers before and definitely afterwards.

Also, the more you practise control, the better you will get to restrain yourself and get the right result.

Maybe, you are new & inexperienced, then you will need to read & study from the professionals and learn how they do it.
Might involve watching videos, make sure they are the right kind, otherwise you will be back at square one.
It never gets easier, you just get better
  • #3,767
  • Oct 6, 2022 7:10pm Oct 6, 2022 7:10pm
Quoting Shabs19
{quote} You need to contain your excitement when active, dont go after the fast exotic volatile victoria secret models, try something a little bit more predictable , boring and less likely to heat you up emotionally. Take regular cold showers before and definitely afterwards. Also, the more you practise control, the better you will get to restrain yourself and get the right result. Maybe, you are new & inexperienced, then you will need to read & study from the professionals and learn how they do it....
Thank you for all the suggestions. Any recommendations regarding who to follow and whose video to watch?

Regards
Success = Practice + Patience + Persistence
  • #3,768
  • Edited 8:16pm Oct 6, 2022 7:24pm | Edited 8:16pm
Quoting ZeroLag
{quote} I'm not sure if I have any theories per se, and if I do, I probably won't make sense explaining them. Here are the basic points of my analysis using this method. 1. Did yesterdays PA touch the Open(if so, discard) 2a. If the Close is greater than the Open and yesterdays PA closed below the Close, look for shorts when below the Close b. If the Close is less than the Open and yesterdays PA closed above the Close, look for longs above the Close 3. Observe the distance between Open/Close(discard if they are too close together, prefer some spacing)...
Great analysis there.

I checked the setups and when I observed them in REAL TIME yesterday, entries look better at previous swings.

Check it out. Although I was not able to mark all as some form during the current day.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 25 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.png Size: 19 KB
The market hides a perfect geometry.
  • #3,769
  • Oct 6, 2022 7:33pm Oct 6, 2022 7:33pm
Quoting ZeroLag
{quote} I'm not sure if I have any theories per se, and if I do, I probably won't make sense explaining them. Here are the basic points of my analysis using this method. 1. Did yesterdays PA touch the Open(if so, discard) 2a. If the Close is greater than the Open and yesterdays PA closed below the Close, look for shorts when below the Close b. If the Close is less than the Open and yesterdays PA closed above the Close, look for longs above the Close 3. Observe the distance between Open/Close(discard if they are too close together, prefer some spacing)...
I think AUDCAD is a bit problematic for long because there was already a rejection at previous open. There was overvaluation. So, we must look for shorts at recalibration zones (previous swings, support turns resistance/resistance turns support).
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
The market hides a perfect geometry.
  • #3,770
  • Oct 6, 2022 10:27pm Oct 6, 2022 10:27pm
Quoting FulMargnAlch
{quote} I think AUDCAD is a bit problematic for long because there was already a rejection at previous open. There was overvaluation. So, we must look for shorts at recalibration zones (previous swings, support turns resistance/resistance turns support).{image}
Kinda agree. AUDCAD had hit the close already when I attempted my long, so I could have argued against talking it.
Get the Lag out
  • #3,771
  • Oct 6, 2022 10:32pm Oct 6, 2022 10:32pm
Just took some longs on EURAUD. Not seeing much else.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 20 KB
Get the Lag out
  • #3,772
  • Oct 6, 2022 11:26pm Oct 6, 2022 11:26pm
Quoting ZeroLag
Just took some longs on EURAUD. Not seeing much else. {image}
Perhaps an entry too early?

If we follow the previous success in this line of thinking, perhaps it is better to wait for that previous swing to be broken and for the price's return.

But with conviction that the open is the target, perhaps it doesn't really matter.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 25 KB
The market hides a perfect geometry.
  • #3,773
  • Oct 6, 2022 11:55pm Oct 6, 2022 11:55pm
Quoting FulMargnAlch
{quote} Perhaps an entry too early? If we follow the previous success in this line of thinking, perhaps it is better to wait for that previous swing to be broken and for the price's return. But with conviction that the open is the target, perhaps it doesn't really matter. {image}
Certainly waiting for additional confirmation is going to increase your odds, I would suspect. Also it will depend on which TF's your are looking for your signals. I'm using the hourly.

When you look at the daily chart, all this discussion is really about is a piercing candle that has not made the retracement to the open. So nothing new here. I guess we are taking that information and looking at it on a different TF.

Just closed out my EURAUD trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 11 KB
Get the Lag out
  • #3,774
  • Oct 7, 2022 12:33am Oct 7, 2022 12:33am
Silver had an inside day, and only marginally closed up. Prolly just going to watch this one.

Anyway, I'll refrain from spamming the thread anymore. Again, random lines? Perhaps. Random information about past price action? Perhaps. But in the end, it only has to make sense to you. I report back after while, or if I have anything worthwhile to contribute. Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: XAGUSDH1.png Size: 20 KB
Get the Lag out
  • #3,775
  • Oct 7, 2022 1:10am Oct 7, 2022 1:10am
Quoting FulMargnAlch
{quote} I think AUDCAD is a bit problematic for long because there was already a rejection at previous open. There was overvaluation. So, we must look for shorts at recalibration zones (previous swings, support turns resistance/resistance turns support).{image}

That was the 25 number as well, could expect trapping there especially in Asia around that time.
  • #3,776
  • Oct 7, 2022 3:12am Oct 7, 2022 3:12am
Quoting ZeroLag
Silver had an inside day, and only marginally closed up. Prolly just going to watch this one. Anyway, I'll refrain from spamming the thread anymore. Again, random lines? Perhaps. Random information about past price action? Perhaps. But in the end, it only has to make sense to you. I report back after while, or if I have anything worthwhile to contribute. Cheers. {image}
I suggest that you to let your thoughts be expressed in here.

Just don't ask anyone why price moves up or down or you'll be damned.lol

I checked silver and it is really hard to trade this using history. But maybe during real time the market may show its hand while we are looking.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
The market hides a perfect geometry.
  • #3,777
  • Oct 7, 2022 3:18am Oct 7, 2022 3:18am
Quoting ZeroLag
{quote} Certainly waiting for additional confirmation is going to increase your odds, I would suspect. Also it will depend on which TF's your are looking for your signals. I'm using the hourly. When you look at the daily chart, all this discussion is really about is a piercing candle that has not made the retracement to the open. So nothing new here. I guess we are taking that information and looking at it on a different TF. Just closed out my EURAUD trade. {image}
This is a good strategy. Easy to scan what to trade for the day. I was using M30 or M15 just to elaborate the swings.
The market hides a perfect geometry.
  • #3,778
  • Oct 7, 2022 3:57am Oct 7, 2022 3:57am
Quoting fxpider
{quote} Thank you for all the suggestions. Any recommendations regarding who to follow and whose video to watch? Regards
There has been a number of professional traders mentioned on this thread.
It will of course, depend on what aspect of your trading you need to work on.
It never gets easier, you just get better
  • #3,779
  • Oct 7, 2022 4:30am Oct 7, 2022 4:30am
Quoting deanyakobs
Once the High is made all future turns are revealed. The point is when you Square the High, Square the Low and Square the Range
hi dean
how r u i hope you r doing well
since i reading thread again again to understand .can u please explain the above post
  • #3,780
  • Oct 7, 2022 5:46am Oct 7, 2022 5:46am
Quoting FulMargnAlch
{quote} This is a good strategy. Easy to scan what to trade for the day. I was using M30 or M15 just to elaborate the swings.
Its funny you say that because that's exactly what I've noticed. Its made it much easier to see which pairs I want to be involved with. I took some shorts on AUDCAD, but covered them once I decided to be a little more stringent on the condition that the Open has not been tested. Its up for debate perhaps. Making it harder to justify taking a trade probably aint the worst thing. Plus its Friday, and time to take the foot off the pedal some. Have a good weekend people.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH1.png Size: 20 KB
Get the Lag out
23 traders viewing now, 1 is registered:
bluesteele