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the key to the mint

  • #4,361
  • Nov 19, 2008 12:38am Nov 19, 2008 12:38am
Quoting harold4x
hey patrick nice trade i see you used interbank i use odl and there was no setup different brokers different feeds different candles sizes if we all want to get same signals please download demo of odl its just a suggestion but otherwise good eye patrick and jtrade glad your progressing in making money when we use the term disipline it is a word that can have a lot of meanings to alot of people. personally being a disciple of christ (disiple from the root word disipline means a student and follower of. the question for both is who and what are you...
Right on Brother ITs Christ
My Email For Help: [email protected]
  • #4,362
  • Nov 19, 2008 3:15am Nov 19, 2008 3:15am
Hi Harold,

I think I finally got a KTM set up, well if not exactly, it was damn close.

EUR 5 minute chart we have an up trend, with a down daily RSI. 3/5 MA cross and RSI cross on 5 minute chart. We have a 123 set up with a 12 pip difference between points 2 and 3. So I jumped in at 1.2630 and took it down to 1.2610 for 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eur short t30.gif Size: 24 KB
  • #4,363
  • Nov 19, 2008 3:27am Nov 19, 2008 3:27am
hey dave how have u been?
yeah good trade mate,
i agree i have been struggling to find trades in the euro session,seems the asian session is better.

andrew
Survive & Preserve
  • #4,364
  • Nov 19, 2008 8:34am Nov 19, 2008 8:34am
Nice trade, ozziedave.

Sometimes there are several euro-morning trades, sometimes not... this morning I had a DAX trade : image is from NinjaTrader (I use their ChartTrader to enter). For the first time I had some kind of tech issue : my stop and target orders disappeared shortly after entry, so I closed the trade by telephone at 4523.50 after 11 mins. Trying to resolve issue now, but trade still good for $875.

It's unusual for a method to be so successful in the Asian session and I think Harold's MM complements it perfectly : I still think it worthwhile to pursue holding part of the position for bigger runs, especially EURJPY and especially during the euro morning... BUT like I posted above, Harold's doing so much better than me on his average trade in terms of RR .
Attached Image (click to enlarge)
Click to Enlarge Name: Dax order problem.JPG Size: 83 KB
  • #4,365
  • Nov 19, 2008 3:04pm Nov 19, 2008 3:04pm
Quoting andrewb7
hey dave how have u been?
yeah good trade mate,
i agree i have been struggling to find trades in the euro session,seems the asian session is better.

andrew
Hi Andrew,

How you been going mate? Had a good trade on the EURSUD during the Euro session and then got blasted later in the session when there was a 80-100 pip 15 minute candle. The news from the USA created that monster of a candle. Price action has been so unpredictable lately and the size of the candles is unreal. I guess a tight SL is best in this market. I think I will adopt Harold's MM style even though it will reduce the number of trades I can take.
  • #4,366
  • Nov 19, 2008 4:41pm Nov 19, 2008 4:41pm
I caught this one right before leaving for work.

I made a mistake in that rsi had not broke below 50. MA's and stoch were good.

I got filled 3 pips below my sell point...To top it off my TP was set to 2625, price went to 2625, sat there a few seconds, then went down to 2624 for about 4 seconds and my TP never triggered. Hmmmm.

Because of the bad fill I moved my TP down from 2626 to 2625..probably should have left it alone.

Did I miss anything that I need to correct? Other than rsi, was this trade valid?

Tks
Deep
Attached Image (click to enlarge)
Click to Enlarge Name: eu11-19-08.gif Size: 19 KB
  • #4,367
  • Nov 19, 2008 7:31pm Nov 19, 2008 7:31pm
I Am In Room Now Deepfx Good Eye Spotting Th123 Other Than The Rsi And Maybe The Crossing Of The Ema's You Were There I Wasnt It Was A Good Setup
  • #4,368
  • Nov 20, 2008 6:24am Nov 20, 2008 6:24am
My loser this morning. I missed if the MA's crossed or not, and the fact that EU was making lower highs and lower lows. An all around bad trade on my part.
Attached Image (click to enlarge)
Click to Enlarge Name: eustopout 11-20.gif Size: 22 KB
  • #4,369
  • Edited 8:17am Nov 20, 2008 8:01am | Edited 8:17am
... don't beat yourself up, deepsouth : I checked both my platforms, NinjaTrader and TradeStation, and the MA had just crossed down (by 1pip); the only thing to have considered was that you were in the "lunchtime range" between the two main sessions, which can be tricky.

It's much worse to take a trade that does not meet the rules... like I did yesterday afternoon, taking an EJ short with the RSI around 70 but my intuition ("into-wishing") said take the trade. I lost my discipline and flushed some serious $$$ down the drain. I have made it back today, but I felt sick all yesterday evening and got up even earlier than usual to contemplate my folly and how NOT to repeat it. 'Printed out the attached check list which is now stuck to my desk and required reading before taking any trade.

Now at 15 & 2 / 7.55R for the month. My 2 losers were both clear RSI rule-breakers and just after increasing position size, so had asymmetrically negative effects on my account.

Discipline from the root "discere", to learn.

Edit : check list not uploading ... working on it...
  • #4,370
  • Nov 20, 2008 8:11am Nov 20, 2008 8:11am
Apparently Word 2007 saves files as .docx, not .doc, so cannot yet be uploaded. This is my simple list (formatting lost) :


KTM Pre-Trade Checklist


1. Daily trend : Long or Short ?
2. Retrace : Buy Low, Sell High ?
3. Clear 123 pattern ?
4. Acceptable range to stop ?
5. Filter confirmation : EMA crossover ?
DiNapoli stochastic crossover ?
RSI above / below 50 ?
"Round number" adjustment or caution ?
6. Exact trigger point identified ?
  • #4,371
  • Nov 20, 2008 8:13am Nov 20, 2008 8:13am
nice checklist there jtrade the main rules are patience, disipline and patient to be disiplined
  • #4,372
  • Nov 20, 2008 8:44am Nov 20, 2008 8:44am
deepsouth the market really wasnt trending up also when using the indicators to confirm price and they are close open data window its the values of the indicators that count not the visuals
  • #4,373
  • Nov 20, 2008 11:10am Nov 20, 2008 11:10am
Quoting harold4x
deepsouth the market really wasnt trending up also when using the indicators to confirm price and they are close open data window its the values of the indicators that count not the visuals
Just reminding the forum that today is this thread's ANNIVERSARY.

Thanks Harold.
  • #4,374
  • Nov 20, 2008 11:18am Nov 20, 2008 11:18am
Thanks Jtrade and Harold. I'll keep these written rules next me while trading.

I guess the good thing is I can see where I am making mistakes immediately after I make them. Now I just have to practice to make sure everything is just so prior to pushing the button. As simple a method as it seems, it takes practice to follow the rules 100% as some things do not line up until seconds before price is at the entry point. Thank god for demo accounts....

Harold;

HAPPY 1 YEAR ANNIVERSARY!!!
  • #4,375
  • Nov 20, 2008 6:31pm Nov 20, 2008 6:31pm
I have followed this thread since the first day and I have to rank it in the top 2 or 3 in the FF; if not the very top. I want to thank harold, again, for all his selfless hard work in making this thread what it is today, a place where anyone can learn to trade fx. This is a good place. Thanks, harold.
Hej.
  • #4,376
  • Nov 20, 2008 9:16pm Nov 20, 2008 9:16pm
Thanks Guys You Made The Thread What It Is We Just Shorted The Eurusd At 52
  • #4,377
  • Nov 20, 2008 9:31pm Nov 20, 2008 9:31pm
Hey Harold,

Just started this thread (skipped to the last page to make sure it was alive and well before I started going through all the pages) and looking forward to getting caught up. Thanks in advance for the great system. =) I'll write again when I've read the whole thread.

V/R

Mario
  • #4,378
  • Nov 21, 2008 2:32am Nov 21, 2008 2:32am
hi can anyone please tell me how we set the tp and the sl ? i cant find it and the thread is so big .
thanks
  • #4,379
  • Nov 21, 2008 3:16am Nov 21, 2008 3:16am
Quoting imad
hi can anyone please tell me how we set the tp and the sl ? i cant find it and the thread is so big .
thanks

Check out post # 3583...
  • #4,380
  • Nov 21, 2008 7:00am Nov 21, 2008 7:00am
Quoting Stitch961
I have followed this thread since the first day and I have to rank it in the top 2 or 3 in the FF; if not the very top. I want to thank harold, again, for all his selfless hard work in making this thread what it is today, a place where anyone can learn to trade fx. This is a good place. Thanks, harold.

nice post Stitch.....
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