High Probability

robby has made a nice pullback on the 1m
we want to see ashi smoothed confirm resuming the uptrend by crossing solidly above 10 lwma
that would be an entry signal or a signal to add to position...

I closed for 9 pips
and will look for another entry point...
how could I have done this differently
I could have taken the 33 pips, knowing that a move like that in a matter of seconds will very likely pullback strongly, even if it is ultimately going higher.
Take the 33 pips and look to get back in on a pullback if it is a good entry signal...
would need to see robby on 1m and 5m favorable for entry
and uptrend would need to be confirmed on 5min...

there were a lot of indications that it was time to get out closer to 33 pips than 9 pips
on the 1m macd had a bearish cross, robby was falling below 80, super rsi stopped being overbought on 5m and 15 min, ashi was no longer making new highs...

here's something interesting..
I am waiting and waiting sometimes for an entry by looking at the 1m for pullback,
but I remember now the significance of using the vertical lines. Their big benefit is that they can mark a trend on the 5m and then by clicking down to the 1m the vertical line bleeds through.
So there would not be any need to to wait and wait for a pullback on the 1 min because the vertical line from the 5m wold show a good entry point on the 1 min...
I was forgetting about the advantage of the bleed through of the marker
yes I think that's what has been missing...
given a confirmation from the other indicators....

missed the setups today.
I think refining this vertical line marker technique will help.
the primary reason to have the 5m chart open is simply to help identify when a new trend may be starting....
the trades are on the 1 min...

EURUSD is stalled out, means big move coming,,, gone absolutely nowhere 12 hours...
unemployment data US 6 hours..
my systems can detect a breakout so I just have to be patient and stay alert for a good entry with proper signals.
however, I am playing a bit during the boredom...
changed some settings for experimenting, when everything is the same color entry point..
robby 50 and macd define the longer trend... not to enter against it.
have my original template and will use that for serious trading, for now playing with the sim and some demo trades. positive results so far...
little hard to look at the charts, cluttered,

using the 15min on the sim

demo is testing out nicely too
and this during consolidation.....
will need to give it the trend test when things really get going..
fast robby shows reentries, slow robby defines the overall trend (this is instead of having 2 charts up on the screen a 5 min with vertical linemarkers and the1m for entries)
slow robby above 80 or below 20 strong confirmation but macd has the final say, above or below 0 tells it all...
all green buy, all white sell,
that means ashi and ashi smoothed, macd, fast robby, slow robby....
tgts can be pivots,s/r, 200 ema as usual...
considering trading the 5 min
will test out finding good entries on the 5m demoing it today...

not bad..
getting used to it. Gives more information than the previous version.
a slow and a fast robby identifies entries on pullbacks very nicely.
color macd is good too.
caught some of the EURUSD action around jobs,
up 51 pips, 5 trades, 4 good, 1 a loss of 1 pip (not a bad trade just a botched exit)
cross of zero macd is a good signal supported by the other indicators.
have some unsteadiness about trading with the trend as defined on the 5 min.
seem to be missing some good entries waiting for a trend confirmation on the 5m. maybe it is not all that necessary if macd crosses zero and the robby's agree and there is support from ashi....
like the missed entry in the chart
5m was still showing up trend but stalling.
Something to work on....

the setting for macd are tweaked... 5,35,5
robby 1 is 5,14
and robby 2 is 5,50

Nice work on the 2 Robby's Jiva! I may have to take a look at that!

Lohad

It is the swinging, volatility that I need to be able to tolerate. Indeed price action has gone to r1 as I thought it would last week. It just took a little while.
I had thought perhaps it would take a day, but it has taken 2 days. 32 bars or so on the 30 min...
today's r1 is pretty much the same as Friday's
+45 pips

Very useful to watch the EURUSD thread...
Several good trades this am.
Have positions short looking for a retrace to r2..
Really wish I did not have short positions since this is such a strong uptrend,
but....am watching...
pa has just about reached r3 and pulled back
oil and the hurricane, and the 20 mtgs have buying in a frenzy...
wait and see.
One thing is I see the value of being able to withstand significant drawdown..
pa comes back to a profitable position a lot of the time even if entry was a little sloppy...

Looks like the wind is coming out of the sails on the 15 m.
tricky stuff though, can turn around on dime...
have tgt at 1.497
but could extend to 1.4925 if things progress...

Very shallow pullback
all day flat lined..
equities thru the roof
Asian session fade?
maybe Asian session will push even higher...

got there,
willingness to tolerate large drawdown has its benefits.
that is where money management comes in.
In my micro account I have $281.
So if I am willing to risk 2% that is $5.62 on one position or 56.2 pips.
That'll work...
Surely I can gain an entry within a 56.2 pip margin of error going in the right direction!!! More often than not!!!!
Up to this point I have been using a micro in FXCM with $25 account. 2% of $25 is $.50 or 5 pips. No wonder trading that account with $25 was never workable. I would have had to be correct within 5 pips for proper money management.
So that is why I hear all the time from experienced traders that money management is actually more important for success than being right.

some sim work seeing how thv trx v.6 performs
with my new mindset, 2% risk...

Would you post your latest template and mq4 files for the indicators?

Like to check it out...

thanks!

Brian

Pls post the super rsi mq4 as well if you will... thanks!

Brian

sent you a pm..
will work on posting..

....
gonna take 2 posts.... this and the next...