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  • #421
  • Jan 24, 2024 12:51am Jan 24, 2024 12:51am
Hi Traders,
I will be watching GU for a short around market open.
Chart of interest.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 4Hr.png Size: 14 KB
Your trade order needs to be in the right place at the right time.
  • #422
  • Jan 24, 2024 12:58am Jan 24, 2024 12:58am
dear islandfx911 trader, another good thread!

your approach of using only closing prices reminds me of simone's approach.
years ago, i brought simoneg and swingtrader together so that they could pour their "buying&selling resistance levels" into an indicator.
it was created and distributed, but it is too confusing for me and i prefer to draw the closing price resistances manually and with a free eye.

about the deadzone: my deadzone is 3 hours after the london open and lasts until just before the NY open.
however, i'm usually done for the day 2-3 hours after the london open.

i also found your very tight stops interesting and that you avoid indicators.
my experience is completely different.
i have very wide stops if at all and use one or the other indicator successfully.
but mainly the price movement leads me.

i almost only trade GU and occasionally EU, because it moves very similarly.
when i have reached my daily target of 20 pips, i stop.
with my many multiple positions, however, it is quite possible that i then have +200 or more in the statistics;-)

we are all different in our beliefs and as long as we are successful, that's ok.

i wish you many more pips AND of course lots of health & strength in your fight!
trading is like dancing, don't think and just listen to the music!
  • #423
  • Jan 24, 2024 1:24am Jan 24, 2024 1:24am
Quoting birdland
dear islandfx911 trader, another good thread! your approach of using only closing prices reminds me of simone's approach. years ago, i brought simoneg and swingtrader together so that they could pour their "buying&selling resistance levels" into an indicator. it was created and distributed, but it is too confusing for me and i prefer to draw the closing price resistances manually and with a free eye. about the deadzone: my deadzone is 3 hours after the london open and lasts until just before the NY open. however, i'm usually done for the day 2-3...
Hi birdland,
Thanks for your post. I have got so used to line charts I cannot use anything else. It is a bit like the Matrix code, with a line chart I can really see what is happening. I am not always right but that's okay.
A couple of hours a day should be enough to make you $ for the day, well done.
Indicators are like someone has thrown a handful of spaghetti at my screen, not for me.
I read a posting the other day where the trader said he had 11 indicators on his chart that basically told him the same thing, I just don't get the logic it that.

Just gotta keep things simple
Your trade order needs to be in the right place at the right time.
  • #424
  • Jan 24, 2024 1:33am Jan 24, 2024 1:33am
Waiting for the opening in EU H1
Attached Image (click to enlarge)
Click to Enlarge Name: Capturaeu3.JPG Size: 100 KB
  • #425
  • Jan 24, 2024 1:44am Jan 24, 2024 1:44am
XAU Jan24 London 7am

- nice pulling back,

- wait till the candle closed.

Attached Image (click to enlarge)
Click to Enlarge Name: XAU Jan24 nice pulling back wait 24-1-2024 3-42-24 pm.png Size: 20 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #426
  • Jan 24, 2024 1:55am Jan 24, 2024 1:55am
Quoting Islandfx911
{quote} Hi E, That is a great question and I know the answer to whether it works or not on XAUUSD How about you do some back testing, then do a couple of weeks trading and post your results then you will have your answer.

I have been trading your system since last week it worked well but problem is SL are Much Higher 20-30 pips and RR is just 2 to 2.5
sorry my english is not good
and thanks for your thread
  • #427
  • Jan 24, 2024 1:56am Jan 24, 2024 1:56am
Quoting Islandfx911
{quote} Hi birdland, Thanks for your post. I have got so used to line charts I cannot use anything else. It is a bit like the Matrix code, with a line chart I can really see what is happening. I am not always right but that's okay. A couple of hours a day should be enough to make you $ for the day, well done. Indicators are like someone has thrown a handful of spaghetti at my screen, not for me. I read a posting the other day where the trader said he had 11 indicators on his chart that basically told him the same thing, I just don't get the logic...
Rob you mentioned The Matrix... I love those movies... so, did you take the red pill or the blue pill?
Attached Image (click to enlarge)
Click to Enlarge Name: MATRIX blue pill red pill.jpg Size: 49 KB
We don't see things as they are - we see things as we are.
  • #428
  • Jan 24, 2024 2:32am Jan 24, 2024 2:32am
Quoting sonicvista12
{quote} Rob you mentioned The Matrix... I love those movies... so, did you take the red pill or the blue pill? {image}
Get your colors right.

The red one doesn't work. The blue is ok but I prefer the yellow.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 100 KB
Success = Practice + Patience + Persistence
  • #429
  • Jan 24, 2024 2:49am Jan 24, 2024 2:49am
Hi Islandfx911,

thanks for the thread! i have a similar approach with S/R on line charts on higher time frames (Daily,Weekly,Monthly)
And then entering sniper like trades on a lower TF down to 5min.

But what is sometimes not transfered enough in the web etc. is that a good trader has a dozen or a million other kinds of points/"indicators" on his list, which are not described in a simple forum topic.
Sometimes, even you dont know but only your subconsciousness.
For example trading time, following news, "tick behaviour" etc. make a huge difference in the probability of the outcome.

Keep up the good work and thanks,

Toaster
  • #430
  • Edited 4:15am Jan 24, 2024 3:59am | Edited 4:15am
Hi Traders,
After GU closed above resistance at market open indicated it would go higher.
A fast decision but the right one.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 24 01 24 Cluster Break and Pullback.png Size: 16 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GU 24 01 24 Cluster Break and Pullback Line Chart.png Size: 11 KB
Your trade order needs to be in the right place at the right time.
  • #431
  • Jan 24, 2024 4:05am Jan 24, 2024 4:05am
Quoting fxpider
{quote} Get your colors right. The red one doesn't work. The blue is ok but I prefer the yellow. {image}

Every night I get a cup of hot chocolate at bed time and a blue viagra tablet.
The hot chocolate sends me to sleep and the tablet stops me from rolling out of bed.
Your trade order needs to be in the right place at the right time.
  • #432
  • Jan 24, 2024 4:09am Jan 24, 2024 4:09am
Quoting Islandfx911
{quote} Every night I get a cup of hot chocolate at bed time and a blue viagra tablet. The hot chocolate sends me to sleep and the tablet stops me from rolling out of bed.


good one.
Success = Practice + Patience + Persistence
  • #433
  • Jan 24, 2024 4:31am Jan 24, 2024 4:31am
Quoting Toaster
Hi Islandfx911, thanks for the thread! i have a similar approach with S/R on line charts on higher time frames (Daily,Weekly,Monthly) And then entering sniper like trades on a lower TF down to 5min. But what is sometimes not transfered enough in the web etc. is that a good trader has a dozen or a million other kinds of points/"indicators" on his list, which are not described in a simple forum topic. Sometimes, even you dont know but only your subconsciousness. For example trading time, following news, "tick behaviour" etc. make a huge difference...

Some very good points there.
Your trade order needs to be in the right place at the right time.
  • #434
  • Jan 24, 2024 4:36am Jan 24, 2024 4:36am
Quoting Islandfx911
Hi Traders, After GU closed above resistance at market open indicated it would go higher. A fast decision but the right one. {image} {image}
congratulation to your trade!

now i have one question: your SL is -7 and was heading this trade into big red news.

what would you have done if the SL was hit with a 30-50 pips slippage? do you take that into your trading consideration when trading red news?
trading is like dancing, don't think and just listen to the music!
  • #435
  • Jan 24, 2024 4:47am Jan 24, 2024 4:47am
Quoting birdland
{quote} congratulation to your trade! now i have one question: your SL is -7 and was heading this trade into big red news. what would you have done if the SL was hit with a 30-50 pips slippage? do you take that into your trading consideration when trading red news?
Hi birdland,
I think I mentioned this before somewhere.
I have been caught out a few times where the market has smashed me for a 8% loss on red news.
My TP is 7.5R on all trades so it does not bother me if I get the occasional whipping.
If I was running a 2R system I would not trade the same way.
This is a very different way to trade, it was very tough in the beginning but over time it gets easier.
I never trade NFP or Nasdaq as I got a hiding on both.
Your trade order needs to be in the right place at the right time.
  • #436
  • Jan 24, 2024 4:49am Jan 24, 2024 4:49am
XAUUSD short BE+5
Attached Image (click to enlarge)
Click to Enlarge Name: iiii.JPG Size: 101 KB
  • #437
  • Jan 24, 2024 4:49am Jan 24, 2024 4:49am
Hi Traders,
I you have any questions like birdland please post.
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #438
  • Jan 24, 2024 4:52am Jan 24, 2024 4:52am
Hi Traders,
This is what you need to find each day.
At the right time.
Attached Image (click to enlarge)
Click to Enlarge Name: TC.png Size: 4 KB
Your trade order needs to be in the right place at the right time.
  • #439
  • Jan 24, 2024 5:03am Jan 24, 2024 5:03am
Hi Traders,
Thanks for tuning in. This week has been very tiring so I am going to take the rest of the week off.
I have some private mentoring that I have neglected and need to catch up on.
I hope I have done some good here and you have got something from my posts.
Talk next week.
Your trade order needs to be in the right place at the right time.
  • #440
  • Jan 24, 2024 5:33am Jan 24, 2024 5:33am
Quoting Islandfx911
{quote} Hi birdland, I think I mentioned this before somewhere. I have been caught out a few times where the market has smashed me for a 8% loss on red news. My TP is 7.5R on all trades so it does not bother me if I get the occasional whipping. If I was running a 2R system I would not trade the same way. This is a very different way to trade, it was very tough in the beginning but over time it gets easier. I never trade NFP or Nasdaq as I got a hiding on both.

good answer and also logical.

your money managent and the 7.5 RR make now perfect sense!
trading is like dancing, don't think and just listen to the music!
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