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M15 Trading Method (help required!)

  • #341
  • Oct 16, 2011 1:50pm Oct 16, 2011 1:50pm
Quoting MCFly
1. Do you mean pullbacks to the lower 0.40% envelope or to the middle one too?

2. Your entry is when the price touches the envelope?

3. When your SL is below the 540 than your SL is sometimes 100 pips and more ?

1 Start entering long for instance, when the market nears the 0.40% envelope depending on the recent history of that pair sometimes within, as it goes further towards the 0.70% buy more, odds are it will turn.

2. ????

3. You could go out to the 540 if it's not to far away, to rich for me, I use just the other side of 0.7%, if a 00 is near or a previous low then I might move it to the otherside of that.

accuracy not required, don't try to predict anything at all, just play the range with the trend and trust the stat's which are 80%+ wins and 2 - 3x's profit than loss.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #342
  • Oct 16, 2011 1:55pm Oct 16, 2011 1:55pm
If say GU uptrend nicely, then I set Orders to go long between the 0.4% and 0.7% with a SL in place, slap it onto a few pairs and see what bites.

I don't set Limit orders but you might want to and might work better.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #343
  • Oct 16, 2011 3:26pm Oct 16, 2011 3:26pm
Thx for the answers.
I have seen some of your ss and I think I know now how your system works. I will have a look.
  • #344
  • Oct 16, 2011 3:45pm Oct 16, 2011 3:45pm
Quoting MCFly
Thx for the answers.
I have seen some of your ss and I think I know now how your system works. I will have a look.

Trend primarily don't bet against this, if you try to play the range against the trend you'll find it will keep going against you hit your SL most of the time.

Range it won't move too much normally without pulling back, my Ma seems to call the mid point nicely atleast nice enough.


The only losses you should be taking are trend changes stat's on that are :-

EU uptrend for 6days.
GU also 6 days.
AU 7 days.
EJ 6 days.

You get the idea, if you'd of kept playing longs on pull back and buying more as it went against you until it turned, you'd of made profit countless times and taken no losses since 6 days ago, pretty cool hey.


Stay away from Pairs with no trend, use a bit of common sense and next to no losers.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #345
  • Oct 16, 2011 6:38pm Oct 16, 2011 6:38pm
Shame I can't find a good exit method, I'm being too scared and seeing profits and taking profits, some times ofcourse by pure chance this works out, but I need to trust my / the trend more and let them ride.

ie EJ nice profit don't get me wrong, took 40pips from my average point, if I'd of held to end of Friday I'd of made 200pips so 5x's the profit.

As it was didn't get an entry on Friday there wasn't 1, I'm stuck until the market pulls back to 0.4% - 0.7% range might not get 1 monday or even tuesday to.

But them be the breaks to wait for perfect very low risk and very high profit setups.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #346
  • Oct 16, 2011 6:52pm Oct 16, 2011 6:52pm
Quoting Turveyd
Shame I can't find a good exit method, I'm being too scared and seeing profits and taking profits, some times ofcourse by pure chance this works out, but I need to trust my / the trend more and let them ride.

ie EJ nice profit don't get me wrong, took 40pips from my average point, if I'd of held to end of Friday I'd of made 200pips so 5x's the profit.

As it was didn't get an entry on Friday there wasn't 1, I'm stuck until the market pulls back to 0.4% - 0.7% range might not get 1 monday or even tuesday to.

But them be the breaks to wait...
A profit is a profit. Next opportunity you could take 1/2 or 2/3rds off and let the rest ride with a stop loss at breakeven plus commission. Then you'd have a free trade.
  • #347
  • Oct 17, 2011 5:53am Oct 17, 2011 5:53am
Quoting AlexC
A profit is a profit. Next opportunity you could take 1/2 or 2/3rds off and let the rest ride with a stop loss at breakeven plus commission. Then you'd have a free trade.

Been toying with that idea, but dunno, not how I like to trade, to busy like to close out and walk away and wait to randomly spot the next setup, I don't wait for them.

Pretty much all pairs are pulling back to the 0.4% ( or whatever that pair is using ) and also some to near the 540lwma, but running late so dunno, might have to miss on this 1.

Plus the speed of it, hints are trend reversal, will try to log on and check later.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #348
  • Oct 17, 2011 7:58am Oct 17, 2011 7:58am
Shame i wussed that so far gu bounced perfectly.



Bad day!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #349
  • Oct 17, 2011 12:57pm Oct 17, 2011 12:57pm
Only GU played ball earlier I see.


Went Long on AUDUSD and NZDUSD Just and short on USDCAD.

Standard procedure, orders in to exploit further weakness, we shall see.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #350
  • Oct 17, 2011 1:18pm Oct 17, 2011 1:18pm
Looking like, trend might change without even a bounce, more orders have hit and it's looking SCAREY


have to take a loss sooner or later, it's a monday and been 1 of them days so expected really.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #351
  • Oct 17, 2011 1:38pm Oct 17, 2011 1:38pm
Quoting Turveyd
Looking like, trend might change without even a bounce, more orders have hit and it's looking SCAREY


have to take a loss sooner or later, it's a monday and been 1 of them days so expected really.
Possible bounce during Asian session?
  • #352
  • Oct 17, 2011 1:42pm Oct 17, 2011 1:42pm
Quoting AlexC
Possible bounce during Asian session?

Thats the issue, with getting in mid session, directions don't generally change to the next session.


but hey we'll see, risking approx 20% here, which is to much yes, but as making 10% per day for many days in a row, why not!!



Mondays
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #353
  • Oct 17, 2011 1:59pm Oct 17, 2011 1:59pm
Nice little retrace here, will it get back on the longer trend and go my way or just give me a blip to exit on maybe.

Looking better, it will turn 95% of the time, with my increased positions not got much further to go to get to a over all profit.

BUT if you don't let profits run, risk $50 and take +$20 then your most likely onto a losing battle.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #354
  • Oct 17, 2011 2:14pm Oct 17, 2011 2:14pm
Quoting Turveyd
Nice little retrace here, will it get back on the longer trend and go my way or just give me a blip to exit on maybe.

Looking better, it will turn 95% of the time, with my increased positions not got much further to go to get to a over all profit.

BUT if you don't let profits run, risk $50 and take +$20 then your most likely onto a losing battle.
For E/U, the 540 and the 66 haven't crossed yet and the 540 is still rising on the 15m. Lets see.
  • #355
  • Oct 17, 2011 3:12pm Oct 17, 2011 3:12pm
Quoting AlexC
For E/U, the 540 and the 66 haven't crossed yet and the 540 is still rising on the 15m. Lets see.

It's not the MA's that cross it's just the Price to the ma, 66 is just a mid point in the range.

AU is holding up well so far, the gamble is it'll get to near 1.03 area.

Market is responding to that GBP Red meeting no doubt, this may change the short term trend if so I LOSE.

Has to lose some time sadly, had 7 weeks with just a few orders that didn't get back to profit, but over all had profit.

Typically I have twice the amount on the table as normal.

USDCAD, almost hit SL.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #356
  • Oct 17, 2011 3:25pm Oct 17, 2011 3:25pm
Getting carried away here, I'm fully in and hurting badly.

Averages are pretty nice though, big bounce from here would make my entire year.


AU average 1.0193
NZDUSD .7940
USDCAD 1.0204


So only small ish moves required, but basically worst trade of the year if SL's hit and there getting CLOSER!!

Doh!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #357
  • Oct 17, 2011 4:58pm Oct 17, 2011 4:58pm
Well they are firming up, have to see over the night.

Let them go to far, odds are they'll retest the 540 then reverse direction hitting my SL's

USDCAD and NZDUSD are small, but AUDUSD I've been accumulating a lot, on the plus side if it runs upto 1.0370 todays highs again then if the others follow suite account doubled.


Expect SL's hit, no worries!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #358
  • Oct 17, 2011 6:35pm Oct 17, 2011 6:35pm
Not so bad here, IF and this is a big if AUDUSD can get back over the 540 then it's back to uptrend the wind is in my sails and I'll move the SL up and leave her on.


USDCAD and NDZUSD aren't that bad, down -16% here or something.


BAD DAY!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #359
  • Oct 17, 2011 7:05pm Oct 17, 2011 7:05pm
Killed my in profit trades to lighten the load before Asia's open, hopefully I'll regret doing that later

Tightened some SL's unless Asia has a big pop to get me out clean ish I guess I'm risking holding currently counter trend over night.


Holding counter trend is basically low odds and very bad practice, direction is weak here though it's 50/50 I've got no actual setups here.

Wake up with profit, still in, or more likely SL'd out for a nasty loss.


This is an example of what happens if you get emotional and break the rules, you end up risking bigger losses and have boat loads of stress, my first stressful trade in 3months was only thinking not had a stupid 1.

Mainly cause I'm teaching a mate my method and didn't want to lose pride hey.

Asia 1min out!! Reaction may take 30mins to judge if they are buyers or sellers in my pairs.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #360
  • Oct 17, 2011 7:06pm Oct 17, 2011 7:06pm
GBPUSD holding onto uptrend gives me hope they'll move my USD Pairs my way.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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