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30M Day-Trading Method

  • #41
  • Apr 2, 2009 8:53am Apr 2, 2009 8:53am
Current open orders

G/U +307 pips, +262 locked in.

A/U +201 pips, +152 locked in.

+414 for the week no matter what, the rest of it is left to run until market close for the week.

I won't be opening any new positions for the rest of the week, as there is not a lot of time left in the week to let a trade make way.

I may not find time to come on here tomorrow, if not all the best to you all and hope you had a great week.

VB,
  • #42
  • Apr 2, 2009 11:09am Apr 2, 2009 11:09am
Hi VitaminBeer,

Very interesting system.Thank you for sharing.
I wanted to ask what indicator are you using to draw the graphics-flags for bHH and LL. Do you mind to share your template?

thanks
peterfx

Quoting VitaminBeer
Well the E/U went flying without a doubt. Divergences can sometimes be a nuisance in that they aren't always accurate, but they can also be a godsend and provide some very good trades with early warning of trend change, allowing you to get in at the top or the bottom of a ride.

Doesn't matter, there will always be another chance.

Last arrow indicates where the entry should have been
  • #43
  • Apr 2, 2009 4:45pm Apr 2, 2009 4:45pm
Quoting peterfx
Hi VitaminBeer,

Very interesting system.Thank you for sharing.
I wanted to ask what indicator are you using to draw the graphics-flags for bHH and LL. Do you mind to share your template?

thanks
peterfx
It's part of MetaTrader 4 - 'Insert' - 'Shapes' 'Triangle'

Cheers,
  • #44
  • Apr 2, 2009 5:31pm Apr 2, 2009 5:31pm
Thanks for sharing VB.

By your accent I have to guess you're not located in the US, so I'm curious as to which sessions and/or trading times you find work best for you?

Also, how long would you say you're in the typical trade? 30m?, 90m?, would you say there is an average of any kind?

By your chart examples you seem to trade many different pairs. Are these by preference, or do you skip around looking for a retrace that you feel safe with?
" Average traders look to the left, great traders look to the right."
  • #45
  • Edited 5:59pm Apr 2, 2009 5:46pm | Edited 5:59pm
First post covers Indicators & Templates. Hope they serve you well.

The indicator's are time zone's set for Alpari, +1 GMT I think it was. So you will have to manually adjust them to suit your broker, or throw them out altogether, I like to keep them as I know when I can start to expect some action.
  • #46
  • Apr 2, 2009 5:57pm Apr 2, 2009 5:57pm
Quoting magicchance
Thanks for sharing VB.

By your accent I have to guess you're not located in the US, so I'm curious as to which sessions and/or trading times you find work best for you?

Also, how long would you say you're in the typical trade? 30m?, 90m?, would you say there is an average of any kind?

By your chart examples you seem to trade many different pairs. Are these by preference, or do you skip around looking for a retrace that you feel safe with?
I'm an Aussie,

Alright... my trades can go for a week at max since I close by the end of the trading week, I don't like leaving positions on over the weekends and I also like to see some solid results in my account.
I'd say the average is probably anywhere between 1-3 days, and that is all depending on what the market is doing really. Sometimes I will get a blast of a run and it will just keep going and going, they are the ones I will try to aim for the most, I don't like sitting in front of the computer waiting. Also, if I already have a couple of trades on 50+ onwards I tend to shy away from opening more positions... think it's just laziness really.. but there's always a chance for more on other pairs, but I feel comfortable with 2-3 max, otherwise it becomes too much work to monitor.

I suppose you could say, that by getting into a trade to run with, I'd probably hang around at the beginning of the London session and go through it and then the US session until I pick out a trade or two to go with and then just monitor them from that point on. If I get stopped out then I wait for the next London session and US session. I sometimes might pick up a early entry into the day by trading the Asian session, but rarely.

I explained about the pairs on post #27

Cheers,
  • #47
  • Apr 2, 2009 6:08pm Apr 2, 2009 6:08pm
Thank you VitaminBeer,

I saw indicator marking HH LL etc. I will try to find it.

thanks
peterfx

Quoting VitaminBeer
It's part of MetaTrader 4 - 'Insert' - 'Shapes' 'Triangle'

Cheers,
  • #48
  • Apr 2, 2009 6:34pm Apr 2, 2009 6:34pm
Quoting peterfx
Thank you VitaminBeer,

I saw indicator marking HH LL etc. I will try to find it.

thanks
peterfx
Umn alright... well it didn't come from me - I use my eyes and then I mark it out manually, with nice big triangles.

Not sure if there is a indicator for that, and if there is, how good it would be is beyond me.

The only indicators that I use for actual trading are the 5 EMA's and the Stoch for divergences, apart from that, the other ones are used for market information, such as time zones, market price and of course inside bars.
There's nothing better than a nice inside bar at the bottom of the retracement and your set to go after it.

Apart from that, it's technicals, trend lines, S/R etc and ... wait for it.... Price Action!

Cheers,

VB,
  • #49
  • Apr 2, 2009 6:43pm Apr 2, 2009 6:43pm
VB, are you familiar with a system from late last year called ATM? Because what you are now describing, especially with the breakout TZ's, is exactly that same system rehashed.

Here's the link:
http://www.forexfactory.com/showthre...137283&page=47
" Average traders look to the left, great traders look to the right."
  • #50
  • Apr 2, 2009 7:06pm Apr 2, 2009 7:06pm
How do you set the TPs? I seem to get out trades early? Do you just use trailing stop and no set traget profits
  • #51
  • Apr 2, 2009 7:37pm Apr 2, 2009 7:37pm
Quoting magicchance
VB, are you familiar with a system from late last year called ATM? Because what you are now describing, especially with the breakout TZ's, is exactly that same system rehashed.

Here's the link:
http://www.forexfactory.com/showthre...137283&page=47
Yes I am familiar with it, and no it's not exactly the same system rehashed, if you knew the ATM method you would know that it is not exactly the same also.

In fact, a lot of systems are similar, in that they follow the trend, it's how we get into the trades and out that are different.

I did say I've pinched a few bits and pieces from other methods at the beginning, but that's more so the breakout indicators, I don't use it for breakouts, I use it for the time zones. I also said feel free to pick at it, meaning take in or out what you don't want or need.

We could go on all day about something being the same as something else, but at the end of the day... I would say there isn't something on this forum that hasn't been thought of before.

VB,
  • #52
  • Apr 2, 2009 7:40pm Apr 2, 2009 7:40pm
Quoting AndsX
How do you set the TPs? I seem to get out trades early? Do you just use trailing stop and no set traget profits

If I feel there is going to be a barrier, such as a recent high or major pivots in the way and I'm in it for a quick 50 pips or something I will usually set my TP just below those levels, but only if it's for at least 50 pips otherwise I won't bother.

I'm sure I explained on the first post, that I trail my stop loss under the most recent low as price moves on (manually).

VB,
  • #53
  • Apr 2, 2009 7:45pm Apr 2, 2009 7:45pm
If it's not the same, I have yet to see how. Maybe you could explain how this is really so different?
" Average traders look to the left, great traders look to the right."
  • #54
  • Apr 2, 2009 7:54pm Apr 2, 2009 7:54pm
Quoting magicchance
If it's not the same, I have yet to see how. Maybe you could explain how this is really so different?
Well I'll start by saying ATM uses 2M, 3M, 5M, 8M, 15M time frames and a 21 SMA to trade off, oh and don't forget the 200 SMA and the 8 SMA as well as the CCI indicator.

I found that using the ATM method I had to constantly sit in front of the computer, but if it works for you, then hey why look for something else?

Like I said I'm only here to show what works for me,

Hope that helps,
  • #55
  • Apr 2, 2009 8:06pm Apr 2, 2009 8:06pm
Okay, here is how I adjust my stop losses.

I will wait for the high of the retracement to be broken then I will move my stop loss under the low for that area.

The picture should be able to help explain.

There is no take profit on this trade.

VB,
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 18 KB
  • #56
  • Apr 2, 2009 9:16pm Apr 2, 2009 9:16pm
Quoting VitaminBeer
Okay, here is how I adjust my stop losses.

I will wait for the high of the retracement to be broken then I will move my stop loss under the low for that area.

The picture should be able to help explain.

There is no take profit on this trade.

VB,
How may time are you still using this system ?

THX!!
  • #57
  • Apr 2, 2009 9:22pm Apr 2, 2009 9:22pm
Quoting jdcabona
How may time are you still using this system ?

THX!!
If I think I got that right, it's how long have I been using this method?

A system sounds a bit rigid...

For just over 4 months.

VB,
  • #58
  • Edited 11:20pm Apr 2, 2009 9:27pm | Edited 11:20pm
Alright,

This week has been good, nice big moves, missed the E/U altogether on both accounts, oh well.

All positions now closed.
In closing for the week I have accumulated:

G/U +324 Open @ 1.43624 for BUY, Close @ 1.46870

A/U +181 Open @ 0.69477 for BUY, Close @ 0.71295
---------
505 Pips.

Have a good weekend, I probably won't be back until next week some time.

All the best,

VB,
  • #59
  • Apr 2, 2009 9:34pm Apr 2, 2009 9:34pm
Quoting VitaminBeer
Well I'll start by saying ATM uses 2M, 3M, 5M, 8M, 15M time frames and a 21 SMA to trade off, oh and don't forget the 200 SMA and the 8 SMA as well as the CCI indicator.
It didn't start off like that. Your thread is new. Wait a few days. Before you know it this thread will look the same.
" Average traders look to the left, great traders look to the right."
  • #60
  • Apr 3, 2009 2:27am Apr 3, 2009 2:27am
Quoting magicchance
It didn't start off like that. Your thread is new. Wait a few days. Before you know it this thread will look the same.
With a bit of luck there will be no one trying to make it the 'HG' by adding indicators and confusion.

Set up looks nice as it is!

......funny thing how accents can be picked up ...lol....

( as if VB has vitamins! )
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