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Biting the Big Apple - XAUUSD M1 trading London close / NY open

  • #181
  • Dec 11, 2023 2:13pm Dec 11, 2023 2:13pm
Quoting kirkleaforex
{quote} Hello, sorry I have only just seen this post of yours now! I would love to chat with you about this, please pvt msg me and we can discuss. Thanks again!
I use this, DXY (US Dollar) up = Gold Down, easy!

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It takes a lot for me to IGNORE you, but you can try.
  • #182
  • Dec 11, 2023 8:53pm Dec 11, 2023 8:53pm
Quoting kirkleaforex
{quote} Hello, sorry I have only just seen this post of yours now! I would love to chat with you about this, please pvt msg me and we can discuss. Thanks again!
lokiko - sorry but I believe that because you are a new member here at FF you have not yet earned the privileges to be able to private message someone, and I am unable to private message you.

I would like to discuss coding stuff with you though, so if you can please email me at [email protected], and then we can chat.
Trade to Live - Don't Live to Trade
  • #183
  • Dec 11, 2023 9:10pm Dec 11, 2023 9:10pm
Quoting MalvernTrust
{quote} Excellent Moeny mangement Skills and you stopped trading , I have a very weak and emotional mind set and aggessively trading until I recover the losees, sometime that approach may work, but I failed many times, slowly progressing and trying to stop trading when I see losses at some extent, Thanks again for your time to write all money management advises. Its really helpful and trying to follow.
Thanks MalvernTrust for this message. It is an important one to have in this thread, as I am all about risk management, transparency and honesty - honesty with yourself mostly.

The more we get to practise a skill, the better we get at it...just like building muscle, the more reps and hours we spend flexing, the stronger we become.

in your post you have highlighted an honest need and desire to make changes in your approach to trading. I am here to support this in any way I can, and the best way I can do this is 'leading by example', showing my wins and losses, admitting my faults and failures while at the same time celebrating my achievements. And encouraging everyone else to do the same.

As I mentioned in a previous post, trading is very much like holding a mirror up in front of you, but what most of us generally see in our reflection are our flaws and weaknesses. Unless we make a conscious effort to change, we stay trapped in a repetitive cycle of behaviour.

The more you can be a 'robot' in the market, the better off you will be in the long term. This demo challenge is not just about trying to pass a prop firm challenge in a ridiculously short timeframe, it is just as much about learning to overcome certain traits and behaviours that we find ourselves repeating, and slowly building skills and confidence when in the market. Skills that will help to keep you alive to trade another day. Learning to trust yourself in the market and learning to discard negative emotions that do not serve your goals should be the main focus.

Trading demo is not like trading with live money, we all know this, so if you really want to build skills it really needs to be in a live environment but with a small account size and with minimal lot / trade size.

Then practice. Practice. Practice. Build that mental muscle.

As the saying goes -"Nothing worth having is easy, and nothing easy is worth having." It might take time and practice, but the rewards at the other end are so worth it.
Trade to Live - Don't Live to Trade
  • #184
  • Dec 11, 2023 11:58pm Dec 11, 2023 11:58pm
Yesterday was disastrous for me.
All goals ripped. Total loss >2%, number of trades > 5, active trading time >2 h.
What threw me off the curve so much?
Mainly dealing with the 1% and also still the conflict with in the past practiced patterns and the acceptance of the arrows in new system.
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I accept and practice the 1% rule (risk from equity).
The crux of the matter was the fluctuation of the absolute amounts for this account size: +$150 -$1500 within less than 1/2 seconds. I have never traded such a large account before, it overwhelmed me despite all the preparation.
The first 3 trades were all about keeping losses small (and thus preventing profits). It wasn't until the last trade of 11 that I drastically reduced the lot number.
Acceptance of a new trading system: When certain threshold markers (support/resistance, Fibo...) were reached, I often thought: comon arrow, show yourself, I'm not your prisoner. This is not a criticism of the system; it certainly often makes sense to wait for confirmation rather than jump in straight away.
Accepting these signs will probably take some practice. How long to let profits run, is a 1% loss is enough given the fluctuation of the spread... I'm not entirely clear on that either.
Thanks and congratulations to everyone who spoke openly after the first day.
Today is a new day.
Let's head towards NY with good cheer.
  • #185
  • Dec 12, 2023 12:30am Dec 12, 2023 12:30am
Quoting kirkleaforex
For those who would prefer to NOT have a button for the Waddah Attar Explosion indi appearing on the screen, here is an updated version of the BTBA indicator, V2.1. As always, if you download this latest version of the BTBA indi you will need the latest Waddah Attar Explosion indicator to accompany it in your /Indicators folder. Both are attached here to download. Thanks again to Aussie Phil above for his input here, much obliged mate. I would LOVE someone to help me amend the code for the Currency Strength XAUUSD indi so it can be utilised...
Hello kirkleaforex !
You have a great strategy.
I have a favor to ask, I don't trade gold, can you make a BTBA indicator for use on currencies?
www.myfxbook.com/members/AMBASSADORFX
  • #186
  • Dec 12, 2023 1:39am Dec 12, 2023 1:39am
One from overnight (for me, based in Ireland). Took longer than I thought so incurred swap.

Bounce off support and targeted an overhead liquidity. I do find TeaPeak's indi a big help.
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  • #187
  • Dec 12, 2023 1:56am Dec 12, 2023 1:56am
Hello everybody, I'm new on this thread, really enjoying it. Congrats Kirk and thank you for sharing such a nice system. I've been around since the beginning of FF and have traded futures and forex for seemingly forever lol. I've always been interested in trading gold. Now it seems I have a good system to give it a really good effort.
I particularly like the Currency lines, which makes it so easy to visualize the direction. I've used a currency strength like this for a long time for currencies, not gold.
Anyway, looking forward to learning more from the people here. Cheers!
If only I knew then what I know now...
  • #188
  • Dec 12, 2023 2:14am Dec 12, 2023 2:14am
First trade of the challenge, highlighted where I entered based on what I perceived as a reaction area around the orange zone which had previously failed after reacting to the oversold blue x, pulled back creating a semafor so then waited for the reaction. This hen coincided with a buy arrow on the 5m timeframe therefore gave me my entry point. Hope to place next trade after US open.
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  • #189
  • Edited 2:49am Dec 12, 2023 2:23am | Edited 2:49am
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I'm using h1 m15 m5 to understand the trend and I only follow that direction in m1
  • #190
  • Dec 12, 2023 2:31am Dec 12, 2023 2:31am
this was not a winner for me need to wait for another opportunity
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  • #191
  • Dec 12, 2023 2:57am Dec 12, 2023 2:57am
Quoting teapeak
this was not a winner for me need to wait for another opportunity {image}
As I said yesterday, watch the DXY

USD down, Gold up or mixed or caution.

Good Luck

Bring on the news USD

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PS: While I'm here, this is a chart that I came up using the indicators and some other just laying around; to my understanding, the indicator that draws the arrows, the actual Biting the Apple, it won't work as there is a suffix ".a"? Isn't that something that should be addressed with some coding updates?

Also, 1-minute seems too much whipsaw for me, 5-minutes would be better for me I think, that's what I watch now anyway.

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It takes a lot for me to IGNORE you, but you can try.
  • #192
  • Dec 12, 2023 3:23am Dec 12, 2023 3:23am
My current state of coding.

I created a function that displays only the first signals as shown on the chart. I can make this indicator function with both major and minor fx pairs, but what is the currency strength criteria for minor currencies? Also, what are the exit signal conditions?

Because of data sources, there may be minor differences between the TW and MT4 signals.
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  • #193
  • Dec 12, 2023 3:26am Dec 12, 2023 3:26am
Quoting Erebus
{quote} As I said yesterday, watch the DXY USD down, Gold up or mixed or caution. Good Luck Bring on the news USD {image} PS: While I'm here, this is a chart that I came up using the indicators and some other just laying around; to my understanding, the indicator that draws the arrows, the actual Biting the Apple, it won't work as there is a suffix ".a"? Isn't that something that should be addressed with some coding updates? Also, 1-minute seems too much whipsaw for me, 5-minutes would be better for me I think, that's what I watch now...
Thanks this is clear but your charts are 15 min so this is something as longer trend for me and we are talking about 1 min scalping here. Will this work in this case from your point of view? so we will place trades only in specific direction based on DXY?
  • #194
  • Dec 12, 2023 3:39am Dec 12, 2023 3:39am
Quoting teapeak
{quote} Thanks this is clear but your charts are 15 min so this is something as longer trend for me and we are talking about 1 min scalping here. Will this work in this case from your point of view? so we will place trades only in specific direction based on DXY?
I can't tell you how and when to trade, that's your job.

The 15 minutes just gives an overall look at the situation.

There are 2 more clues there, DXY is below the daily open, and gold is above the daily open.

Looks like a slow day now until USD news later, good luck.
It takes a lot for me to IGNORE you, but you can try.
  • #195
  • Dec 12, 2023 4:22am Dec 12, 2023 4:22am
Nice winner from London session.
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  • #196
  • Dec 12, 2023 4:22am Dec 12, 2023 4:22am
The system lacks around 2 filters in terms of trend and daily bias. As it is its just shooting at every duck and sooner or later one will blow the account. It still needs a lot of work.
  • #197
  • Dec 12, 2023 4:27am Dec 12, 2023 4:27am
Nice trade! It looks like you didn't wait for the candle to close. Too bad spread is a bummer on gold.
What SL did you use?
  • #198
  • Edited 4:52am Dec 12, 2023 4:30am | Edited 4:52am
Quoting 80050
My current state of coding. I created a function that displays only the first signals as shown on the chart. I can make this indicator function with both major and minor fx pairs, but what is the currency strength criteria for minor currencies? Also, what are the exit signal conditions? Because of data sources, there may be minor differences between the TW and MT4 signals. {image} {image}
Great work 800! Thanks for your time. Strength should be the same no? And exits are in the open for the time..you could do a simple percentage based RR. I’ve been using HA to exit with a hard a stop. This is the current part of the system I’m stuck..
  • #199
  • Dec 12, 2023 4:37am Dec 12, 2023 4:37am
Quoting lorecavoli
Nice trade! It looks like you didn't wait for the candle to close. Too bad spread is a bummer on gold. What SL did you use?
No it hit my TP so it closed automatically. You can see my SL little red dash line under the low of my entry.

spread is awful!
  • #200
  • Dec 12, 2023 4:54am Dec 12, 2023 4:54am
Quoting Erebus
{quote} As I said yesterday, watch the DXY USD down, Gold up or mixed or caution. Good Luck Bring on the news USD {image} PS: While I'm here, this is a chart that I came up using the indicators and some other just laying around; to my understanding, the indicator that draws the arrows, the actual Biting the Apple, it won't work as there is a suffix ".a"? Isn't that something that should be addressed with some coding updates? Also, 1-minute seems too much whipsaw for me, 5-minutes would be better for me I think, that's what I watch now...
Hello Erebus,
your contributions are often helpful and I acknowledge them from time to time with thanks. For years.
In my opinion, however, it would be more helpful to take part in the challenge yourself or to read the thread completely. The traders here are not all greenhorns, but are making an effort to adapt Kirk's system. Other experiences/instruments have been tolerated by Kirk so far, but the main thing is to take a new path. By the way, the USD XAU correlation is already included in the system. Maybe not in the weighting, I have no idea. Maybe we'll see each other here?
All love Isabella
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