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Easy Eyes (No Indicators) Simple Day Trading

  • #61
  • Nov 26, 2010 1:30pm Nov 26, 2010 1:30pm
Quoting sidefx
...which pair?, i'll take a look and see if i'd have done anything different.


hi sidefx


it was the EU (eur/usd) pair i traded on that last trade.



newyear

thanks for the clarification. the answers you have given in actual fact is what this thread is about, i.e. refining your system. every bit of doubt being analysed and answered. in effect refining your system so that others may also understand it better and get more ideas. so if i ask too many questions, that is a good thing. as questions will bring up thoughts. bettering your system.

scalping is something i dont try to do. when i first started fx trading i did some scalping to start off with, but quickly realised it wasn't my thing. especially for just 1 or 2 pips. i became interested in scalping again after reading your thread. thought i give it another try, see how things go.



jmaq

are u up on your trades now and your confidence back ? how many pips are you down / up this week.
the last charts you added, can you post notes on them highlighting your entry / exits, at the moment it is unclear to me. i just see dots and arrows - too many of them !




nice weekend all....
  • #62
  • Nov 26, 2010 1:59pm Nov 26, 2010 1:59pm
Not a problem.. just felt like lately I been doing more answers than trading lol.. trying to spend some time with the charts
  • #63
  • Nov 26, 2010 5:33pm Nov 26, 2010 5:33pm
Quoting whatfx
jmag

are u up on your trades now and your confidence back ? how many pips are you down / up this week.
the last charts you added, can you post notes on them highlighting your entry / exits, at the moment it is unclear to me. i just see dots and arrows - too many of them !
Hi Whatfx,

I am following the numbered steps 1-4 from Newyear's first post in the thread. I have also restated what I'm doing in this post:
http://www.forexfactory.com/showthre...86#post4199586

Carefully reread the method and you should be able to see what I'm doing on the charts. Check the timeframe on each chart and relate them to the method. I also stated exactly what I was doing on the charts in this post:
http://www.forexfactory.com/showthre...66#post4201866
Read what I posted and let it tell the story of what happened in the chart. In this post I am referring to the trade after 8:00 on the 5m chart. All my trades today were long so up arrows are entries long and down arrows are manual exits. The squares are limit orders that I am moving to stay one pip above last 1m bar until entry. The pink square is a canceled limit order because the 5m bar went blue. When it went orange again, I followed with the limit order on the 1m chart until entry.

The spreadsheet at the bottom shows all pips on this method so far so good. From past experience I expect to get shredded next week during feeding time, or be pleasantly surprised. May the Heikin-Ashi protect us.
  • #64
  • Nov 27, 2010 4:01pm Nov 27, 2010 4:01pm
Quoting newyear498
Not a problem.. just felt like lately I been doing more answers than trading lol.. trying to spend some time with the charts
good idea to post charts of all your trades for a few days.
  • #65
  • Nov 27, 2010 5:17pm Nov 27, 2010 5:17pm
Quoting whatfx
good idea to post charts of all your trades for a few days.
Its very hard to trade and take screen shots because I miss the next trades trying to post.. If I don't explain everything right away I forget what my thought was in the last trade..

I will try to come up with a systematic way to post my trades.. like I will post the 30M then 5M and etc.. in order without words or explainations but hopefully the charts can explain it all..

Hmm.. any suggestions what will be most helpful I will try to do.. but I don't want to write an essay in every post cuz I need to catch the next trades/watch for setups...

then maybe we can go over some question and I will answer when I'm not trading and see if I remember why I took the trade.. it will just be easier for me


Remember I'm not a pro forex guy ethier.. I'm still mingling for my get rich system that can produce a full time income as well.. but I will show you how the HA is nice for getting the trend figure out...
  • #66
  • Nov 28, 2010 6:19pm Nov 28, 2010 6:19pm
Quoting newyear498
Its very hard to trade and take screen shots because I miss the next trades trying to post.. If I don't explain everything right away I forget what my thought was in the last trade..

I will try to come up with a systematic way to post my trades.. like I will post the 30M then 5M and etc.. in order without words or explainations but hopefully the charts can explain it all..

Hmm.. any suggestions what will be most helpful I will try to do.. but I don't want to write an essay in every post cuz I need to catch the next trades/watch for setups...

then...


sure. shots of charts are ok. but you need to point the entry / exits on charts...
  • #67
  • Nov 28, 2010 7:14pm Nov 28, 2010 7:14pm
Quoting whatfx
sure. shots of charts are ok. but you need to point the entry / exits on charts...
...which is easy to do with Oanda, as everything can be displayed on the chart (orders, entries, exits, stoplosses, profit limits etc), can be toggled on/off. I won't be trading until an hr or so into London but i'll post Oanda charts detailing trades, the snipping tool in Windows 7 is quite handy for capturing charts as a trade progresses.
  • #68
  • Nov 28, 2010 7:28pm Nov 28, 2010 7:28pm
Shoulda woulda coulda had a 20 pip trade after first 30m bar in Asian tonight but spread was a 1.5. 30m and 5m were in agreement.
Attached Image
  • #69
  • Nov 28, 2010 7:34pm Nov 28, 2010 7:34pm
How do I get my past trades to stay on chart like jmag has?

oanda, Thanks!
  • #70
  • Nov 28, 2010 8:40pm Nov 28, 2010 8:40pm
Heres an example which I think was a setup of some confusion per past questions..

the active candle is pretty much 3 minute to close so at that point I personally would have given up looking for shorts.. but anyway the chart should explain..

Anyways,
I like to think of 30M as intermediate trend.. 5M as short trend.. and 1M is a little head start to entry and exits for me
  • #71
  • Nov 28, 2010 8:41pm Nov 28, 2010 8:41pm
That I forgot to attach :-p
Attached Image (click to enlarge)
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  • #72
  • Nov 28, 2010 10:48pm Nov 28, 2010 10:48pm
Wasn't able to trade this Asian but it looked pretty good. US here we come.
  • #73
  • Nov 29, 2010 2:47am Nov 29, 2010 2:47am
Quoting newyear498
How do I get my past trades to stay on chart like jmag has?

oanda, Thanks!
go to 'chart options' and select 'show historical trades & orders'.
  • #74
  • Nov 29, 2010 2:58am Nov 29, 2010 2:58am
too much of one thing is no good,i lost my 1st deposit by just looking at price action ,at least add some fibos ,channels and moving averages ,simple stuff and volume is important ,although its not full true volume it can be of help still
  • #75
  • Nov 29, 2010 3:10am Nov 29, 2010 3:10am
I'm watching GU, EU and EJ today. I have a GU short order pending at the moment. On the 30min HA chart, GU has the clearest indication of trend compared with the other 2 pairs, imho. I will trail the order up for entry, as long as the case for shorting remains...ie a 5min short HA candle needs to print first before entry.
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Nov GU 1 short order.PNG Size: 92 KB
  • #76
  • Edited 3:45am Nov 29, 2010 3:34am | Edited 3:45am
...with indecision, slightly bearish but not strong enough now to support a short, so short order cancelled.

Edit: ...clearer indication of momentum now on EU and GU...you get the picture...won't keep posting this realtime stuff further.
  • #77
  • Edited 4:48am Nov 29, 2010 4:18am | Edited 4:48am
...i'm now in the GU short using 20 sl/20 tgt...this is based on the current momentum of dollar strength on the other pairs i'm watching...the method cannot be traded blind, as there isn't enough of an edge. You have to take other factors into consideration.

Edit: +11 available so far....still holding for the 20 pips for now.

Edit: 10:46 - stops to b/e now as it nears the 20 pip target.

Edit: 10:48 - exited on 1min momentum north @5582.4
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Nov GU 1 short.PNG Size: 93 KB
  • #78
  • Nov 29, 2010 8:46am Nov 29, 2010 8:46am
Targeting price level around 4hr demand..will be v happy with 20 pips, if offered....but will take what meets an acceptable profit (for me) before this...and will move stops to b/e when price action throws up a few more clues.

Edit: 14:50 - out @5548.7 - 5min HAs too indecisive for me to risk holding longer, so took a quick small profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Nov GU 2.PNG Size: 99 KB
  • #79
  • Nov 29, 2010 12:38pm Nov 29, 2010 12:38pm
Quoting sidefx
...i'm now in the GU short using 20 sl/20 tgt...this is based on the current momentum of dollar strength on the other pairs i'm watching...the method cannot be traded blind, as there isn't enough of an edge. You have to take other factors into consideration.

Edit: +11 available so far....still holding for the 20 pips for now.

Edit: 10:46 - stops to b/e now as it nears the 20 pip target.

Edit: 10:48 - exited on 1min momentum north @5582.4


Could you explain how you evaluated momentum? Sounded like a very different approach to finding momentum then I am used to?

Thanks, and nice trades..


Quoting dragan53;
too much of one thing is no good,i lost my 1st deposit by just looking at price action ,at least add some fibos ,channels and moving averages ,simple stuff and volume is important ,although its not full true volume it can be of help still

and the other story is losing all of account because of indicators lol, but yeah there is no reason you cant use indicators.. just remember they lag.. but In my opinion they are definitely helpful as long as you don't overload

most agree and I also find RSI and MACD least lagging for trend and stochastic is least lagging for ranging

if anyone wants to through a few indicators on there charts go for it! theres no reason they can't help our method or we could even end up creating a system
  • #80
  • Edited 2:06pm Nov 29, 2010 1:53pm | Edited 2:06pm
I decided to buy in at some consolidation before the next move..

You can see on the 30M we are just in a pull back most likely.. so some small scalping is all I wanted.. bought at 1M consolidation.. and when momentum got weak I decided to lock in pips for a 1 pip profit.. obviously I wanted more but you can only take what it wants to give right!?!

so a small 1 pip and I am probably going short soon... since like I said the 30M appears like it might continue down
Attached Image (click to enlarge)
Click to Enlarge Name: little_bit.jpg Size: 204 KB
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