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Trading the Cable swings via averages

  • #8,601
  • Nov 22, 2022 2:52am Nov 22, 2022 2:52am
The EMA's are being squashed together in the words of Charles Dickens we have great expectations.
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  • #8,602
  • Nov 22, 2022 3:38am Nov 22, 2022 3:38am
Thanks master,
My price target H1 blue swing low at 17862 is different from yours and it did not hit.
Your orange was hit, where did it come from?
Please enlighten me.
  • #8,603
  • Nov 22, 2022 3:41am Nov 22, 2022 3:41am
Quoting Nala66
The EMA's are being squashed together in the words of Charles Dickens we have great expectations. {image}
I couldn't read the chart today.
Didn't get any inference from H1.
  • #8,604
  • Nov 22, 2022 7:47am Nov 22, 2022 7:47am
Quoting LFrZero
{quote} I couldn't read the chart today. Didn't get any inference from H1.
Well, the inference was certainly there...
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  • #8,605
  • Nov 22, 2022 8:04am Nov 22, 2022 8:04am
Quoting Nala66
{quote} Well, the inference was certainly there... {image}
RSI divergence on the H1 chart (just about) and price testing the EMA level. Easy in hindsight but not so easy in the moment.
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  • #8,606
  • Nov 22, 2022 10:38pm Nov 22, 2022 10:38pm
Quoting 40PipsAlan
{quote} RSI divergence on the H1 chart (just about) and price testing the EMA level. Easy in hindsight but not so easy in the moment. {image}
Expand your mind a tad

This target was about 60 pips. Let 60 pips equal 2% of the account.

Now we start by risking 2% (60 pips). Then we have options to either reduce the risk by advancing the stop or increasing the prize by adding more lots and advancing the stop.

The ability to do the latter depends on your allowed leverage.

Of course, had price turned on us we don't have to wait to lose 2%, we can close and change our direction if we have a target to run for. There was a target some 75 pips below. So, we calculate and include our loss into the mix to both get our 2% and retrieve our loss.
  • #8,607
  • Nov 22, 2022 10:52pm Nov 22, 2022 10:52pm
We are now in a situation where the price is testing the1 hour EMA from a bear div. If it succeeds and finds support, then the EMA is looking to make a LL than the 1828 and price should target the 1758.

This is about 110 pips so do the math by letting 110 pips equal 2% risk/reward We can always close for a much smaller loss and change direction.
  • #8,608
  • Nov 23, 2022 4:42am Nov 23, 2022 4:42am
Quoting Nala66
{quote} Expand your mind a tad This target was about 60 pips. Let 60 pips equal 2% of the account. Now we start by risking 2% (60 pips). Then we have options to either reduce the risk by advancing the stop or increasing the prize by adding more lots and advancing the stop. The ability to do the latter depends on your allowed leverage. Of course, had price turned on us we don't have to wait to lose 2%, we can close and change our direction if we have a target to run for. There was a target some 75 pips below. So, we calculate...
I am trying boss.
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  • #8,609
  • Nov 23, 2022 6:23am Nov 23, 2022 6:23am
do you still use the 3 entry capital management strategy alan? I am learning your strategy and practicing for the past 3-4 months. poring over the first 200 pages of this thread. Those are posts around the end of 2019. Sometimes when I look at the most recent posts, I see you state the entry in %. So, have you changed a lot since then? If yes, I must try to learn quickly the rest to catch up with you.
  • #8,610
  • Nov 23, 2022 10:36am Nov 23, 2022 10:36am
Today's trade is so sad that I jumped out too early.
H1-EMA touch is an inference, bullish RSI on M5, 2BT then I LONG.
Price finally reach the H1 target.
@Master Alan, can you help me specify the second entry if available?
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  • #8,611
  • Nov 23, 2022 12:14pm Nov 23, 2022 12:14pm
Quoting Dongpo741
do you still use the 3 entry capital management strategy alan? I am learning your strategy and practicing for the past 3-4 months. poring over the first 200 pages of this thread. Those are posts around the end of 2019. Sometimes when I look at the most recent posts, I see you state the entry in %. So, have you changed a lot since then? If yes, I must try to learn quickly the rest to catch up with you.
Yo boss. The aussie forex leverage rules changed a couple years back and Alan had to modify his trade criteria to go for a few % per day I believe. I am still on 500:1 leverage with an aussie broker strangely enough probably because I am not in oz. Our European rules on leverage are also rubbish. Still aiming for the 100% a day but not there at all yet.
  • #8,612
  • Nov 23, 2022 12:48pm Nov 23, 2022 12:48pm
Quoting 40PipsAlan
{quote} Yo boss. The aussie forex leverage rules changed a couple years back and Alan had to modify his trade criteria to go for a few % per day I believe. I am still on 500:1 leverage with an aussie broker strangely enough probably because I am not in oz. Our European rules on leverage are also rubbish. Still aiming for the 100% a day but not there at all yet.
Thank you very much for your answer, I understood the problem, it was about the changed leverage. My broker allows leverage from as low as 1:2000 so I was quite surprised at the difference
  • #8,613
  • Nov 24, 2022 12:24am Nov 24, 2022 12:24am
Finally made that ABCD on the 4 hour...Glad I didn't hold my breath that long.
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  • #8,614
  • Nov 24, 2022 12:32am Nov 24, 2022 12:32am
Quoting Dongpo741
do you still use the 3 entry capital management strategy alan? I am learning your strategy and practicing for the past 3-4 months. poring over the first 200 pages of this thread. Those are posts around the end of 2019. Sometimes when I look at the most recent posts, I see you state the entry in %. So, have you changed a lot since then? If yes, I must try to learn quickly the rest to catch up with you.
Yes I still use three entries. The reference to % was just that a reference because it is simpler to explain than numbers which vary from person to person.

The simple reason is to risk far less than you are prepared to win. Keep the math on your side.
  • #8,615
  • Nov 24, 2022 2:04am Nov 24, 2022 2:04am
Quoting Nala66
Finally made that ABCD on the 4 hour...Glad I didn't hold my breath that long. {image}
Also the daily EMA level
  • #8,616
  • Nov 24, 2022 2:55am Nov 24, 2022 2:55am
Quoting 40PipsAlan
{quote} Also the daily EMA level
Correct and on that daily there is an AB=CD targeting 2320
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  • #8,617
  • Nov 24, 2022 3:05am Nov 24, 2022 3:05am
Everything gets a tad strained as these targets are hit so it should come as no surprise to see the price back off somewhat.
  • #8,618
  • Edited 3:49am Nov 24, 2022 3:14am | Edited 3:49am
Waiting for Bull support on the M5, nearly there. Nope ranging instead
  • #8,619
  • Nov 24, 2022 4:10am Nov 24, 2022 4:10am
Got lucky on the daily EMA retest. +1.5%
  • #8,620
  • Nov 24, 2022 4:40am Nov 24, 2022 4:40am
Adding to winning trades is not easy on the lower time frames with smaller targets but the results are quick.

Below you see 4 trades of 1% each but because the distances are different the lot size is also different to produce the desired result.

The initial risk is always equal to the potential reward. We can move our stop to BE when the EMA is crossed.

This is a 1-minute chart so there is very little chance to get more than one trade on, on the upside we have the opportunity to take many more individual trades.

We do exactly the same on all time frames but if the trade is of a longer duration, we may have the opportunity to add to it.

It really doesn't get any simpler than this. Since this is the 1 min, we could begin with a 10 pip stop
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