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V strategy

  • #21
  • May 30, 2008 8:12am May 30, 2008 8:12am
Hi,
smjons created this tread for evaluating his observation about V shape on 15M charts beginning at the London session opening.
Please stay focused on the subject. Posting about 1 2 3 patterns are very valuable but I think this thread is not the right place for them.
smjones - please correct me you see it differently.
BR
Dani M
  • #22
  • May 30, 2008 8:43am May 30, 2008 8:43am
Quoting dan_mir
Hi,
smjons created this tread for evaluating his observation about V shape on 15M charts beginning at the London session opening.
Please stay focused on the subject. Posting about 1 2 3 patterns are very valuable but I think this thread is not the right place for them.
smjones - please correct me you see it differently.
BR
Dani M
I am very focussed on the subject dan_mir, the 1,2,3 is my way of entering in to the V.

As i said earlier, the v is very easy to spot with hindsight but not as easy to spot in real time. The 1,2,3 indicates to me that there is a bias change in price from what's happened in the Asian session to what is happening in the Euro session - ie, potentially the start of the v.

I said earlier, there was a large thread on this subject a couple of years ago, which i was involved in, on a different forum - i'm just giving my take on things. If people feel it's not helpful and leading this thread down the wrong path,i apologise and i'll keep out of it.

Can you not see that the 1,2,3 is at the very start of the V?

M
  • #23
  • May 30, 2008 8:54am May 30, 2008 8:54am
Great post mp777

There is never a V without a 1.2.3

Mart
----o00o--°(_)°--o00o----
  • #24
  • May 30, 2008 8:54am May 30, 2008 8:54am
Cheers Mart

M
  • #25
  • May 30, 2008 12:22pm May 30, 2008 12:22pm
Quote
..and if you notice the closing price at London close is right where it was when they opened again. Hence, no need for a correction.

Except that's not always true either, especially with unpriced news events.

The 1,2,3 or "double bottom" pattern works well here, but the rules don't always fit either. The 2nd top/bottom is sometimes below the low or higher than the high, and yet it still reverses. The double bottom pattern is very common for the 9am eastern time bar, but do a full backtest on the london and you'll see it misses quite a few moves.

As for an entry strategy this as good, perhaps better, than most. But we haven't had much discussion on loss control. I have a few rules that have helped me...

1. Never stay in an uncertain trade, if it's not profitable within an hour, ditch it.
2. Never stay in a slow trade, if I can't break even after 2 hours, ditch it.
3. Smaller stops really help, 20 pips or so.
4. If I'm trading the london market open: Tighten my stops and put a reversal order beyond the stop starting at the 9am EST bar, when the US markets open there are often reversals.
5. If I'm still in the trade by lunch time (US), tighten stops again. I don't usually set a reversal tho, as I don't want to take a trade that late in the date.

When I do a straddle entry I cut slow trades like crazy, usually at breakeven. The ones I don't cut are the ones that've broken out and are free. Free trades rock.
  • #26
  • May 30, 2008 12:24pm May 30, 2008 12:24pm
Quoting dan_mir
Hi,
smjons created this tread for evaluating his observation about V shape on 15M charts beginning at the London session opening.
Please stay focused on the subject. Posting about 1 2 3 patterns are very valuable but I think this thread is not the right place for them.
smjones - please correct me you see it differently.
BR
Dani M
I was not the author of this thread. You would have to check with him/her.
  • #27
  • Last Post: May 30, 2008 7:47pm May 30, 2008 7:47pm
Quoting smjones
Actually this IMO is the only good use of tick volume, to see increased action. I put the volume in a slightly different format and noticed some time go, at least for EU that when Volume jumps to 300 ticks per 15 min bar the "V" is usually begining. It is probably a little different number for other pairs, but should be easy to calibrate.

Ps, I was just playing with this, so I modified another indi instead of starting from scratch, so the code is not very clean.

Here is a copy of my modified volume test
hi smjones ,, thx for volume test indi ,,, coulde you pls attache original indi ??
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