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On My Way To The Top

  • #781
  • Oct 20, 2011 3:37pm Oct 20, 2011 3:37pm
Look at the aud usd now and you will see what I mean that although the overall higher time frame's trend is ultimately to the downside...the short term move to the downside was exhausted and starting to build the up move as reflected by 1,2,3 patterns and etc... and you can see as the 5 15 and 30 make their way up it forces the 1 hour to turn up and start moving to the upside as well...until the shorter time frame starts to build the down move into the overall trend which is down than you will get extra momentum as you begin going with the already established higher time frame trend...if that makes any sense at all...
No man is free who is not a master of himself. -P.M.-
  • #782
  • Oct 20, 2011 5:09pm Oct 20, 2011 5:09pm
It looks like my idea mentioned earlier might just be looking pretty good so far from what it seems and will be my perfect swing trading strategy......get in on the smaller time frame with the trend and ride it until the trend looks to be exhausted through the way that I have seen seems to work for the most part... some may think I'm insane but I'm going to try and forward test it and see how it works out on demo especially since I think this new broker I've been trying out I believe allows hedging which is great as well as it has a high leverage being an offshore broker...still trying them out though but they come with good recommendations to me...need to test out the hedging to see if it can facilitate long term and short term trading...I will explain a bit later what it is I'm attempting to achieve with this idea.....
No man is free who is not a master of himself. -P.M.-
  • #783
  • Oct 20, 2011 8:18pm Oct 20, 2011 8:18pm
Here are the ctt alerts for today...labeled a bit of examples to look for to enter...may not be precise as its just at a glance...but here goes...


Paul
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 48 KB
Click to Enlarge Name: gu.gif Size: 48 KB
Click to Enlarge Name: au.gif Size: 48 KB
Click to Enlarge Name: nu.gif Size: 46 KB
Click to Enlarge Name: usdchf.gif Size: 43 KB
Click to Enlarge Name: usd cad.gif Size: 48 KB
No man is free who is not a master of himself. -P.M.-
  • #784
  • Oct 20, 2011 9:33pm Oct 20, 2011 9:33pm
How I missed this entry but here is an entry I missed which would still be running with 6% locked in...
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf missed.gif Size: 47 KB
No man is free who is not a master of himself. -P.M.-
  • #785
  • Edited 4:26am Oct 21, 2011 4:10am | Edited 4:26am
Well here's a trade that I just entered.. seems to me to be a trend following trade:

Daily Down
Hourly rope down and not oversold
5 min rope down below 80
Divergence on 5m stoch

Stop is about 11 pips

Update: STOPPED OUT
Attached Image (click to enlarge)
Click to Enlarge Name: eg1.gif Size: 31 KB
  • #786
  • Oct 21, 2011 4:52am Oct 21, 2011 4:52am
Quoting pmullin86
Look at the aud usd now and you will see what I mean that although the overall higher time frame's trend is ultimately to the downside...the short term move to the downside was exhausted and starting to build the up move as reflected by 1,2,3 patterns and etc... and you can see as the 5 15 and 30 make their way up it forces the 1 hour to turn up and start moving to the upside as well...until the shorter time frame starts to build the down move into the overall trend which is down than you will get extra momentum as you begin going with the already...
Thanks man. I see what you mean. Its better to trade the pullbacks when only shorter stochs move, but longer ones keep relatively still or move to the trend direction. Kind of a same thing that is in your rules considering overbought/oversold conditions of daily stoch.

BTW based on discussions with DRDave I had rather interesting stuff from MTF 123´s, which can predict reversal. In case youre interested, I can send it to you when I get back home from the office. Weekend readings (just printed youre entire thread for myself ).
  • #787
  • Oct 21, 2011 6:10am Oct 21, 2011 6:10am
Don't worry man those happen sometimes...its a solid entry but the question is did you take the entry about 8 candles later to make back that money lolz...sometimes when you take an entry it might have just not been quite ready to drop so you take every valid signal until the market gives you what you want...
No man is free who is not a master of himself. -P.M.-
  • #788
  • Edited 7:45am Oct 21, 2011 6:14am | Edited 7:45am
Quoting balrog
Well here's a trade that I just entered.. seems to me to be a trend following trade:

Daily Down
Hourly rope down and not oversold
5 min rope down below 80
Divergence on 5m stoch

Stop is about 11 pips

Update: STOPPED OUT
And then it goes and does this!!!

After the first failed attempt I bailed at 2% to be up on the trade before.. as we speak it's still going south.. at about 3.5%...
Attached Image (click to enlarge)
Click to Enlarge Name: eg2.gif Size: 25 KB
  • #789
  • Oct 21, 2011 6:17am Oct 21, 2011 6:17am
Quoting pmullin86
Don't worry man those happen sometimes...its a solid entry but the question is did you take the entry about 8 candles later to make back that money lolz...sometimes when you take an entry it might have just not been quite ready to drop so you take every valid signal until the market gives you what you want...
hehe.. just seen your post. Was definitely anxious about entering again and that's why I got out early to be up on the two trades.. Happy to have spotted it though..
  • #790
  • Oct 21, 2011 6:19am Oct 21, 2011 6:19am
Quoting balrog
And then it goes and does this!!!

After the first failed attemp I bailed at 2% to be up on the trade before.. as we speak it's still going south.. at about 3.5%...
Good catch but thats why I manage the trades like I do as to not exit prematurely...im still in this and I did take the first entry you took also....
No man is free who is not a master of himself. -P.M.-
  • #791
  • Oct 21, 2011 6:38am Oct 21, 2011 6:38am
Quoting pmullin86
Good catch but thats why I manage the trades like I do as to not exit prematurely...im still in this and I did take the first entry you took also....
I think it was my own lack of confidence.. not a good way to be but I suppose if I can manage to get a good hit rate with these then it will come

Still limiting myself to trend trades for the mo'
  • #792
  • Oct 21, 2011 6:42am Oct 21, 2011 6:42am
two sells on the usdcad both failed...still short on the eur gbp with 4% locked in and still long on the eur usd with stops set to break even...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 52 KB
No man is free who is not a master of himself. -P.M.-
  • #793
  • Oct 21, 2011 6:55am Oct 21, 2011 6:55am
two sells on eurgbp first failed and second I was knocked out at 4%
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 48 KB
No man is free who is not a master of himself. -P.M.-
  • #794
  • Oct 21, 2011 6:56am Oct 21, 2011 6:56am
eurusd trade update...i've locked in 2%...
No man is free who is not a master of himself. -P.M.-
  • #795
  • Oct 21, 2011 7:26am Oct 21, 2011 7:26am
eur usd buy knocked out for 2% and just manually closed out my gbp usd buy for 8% and I believe I'm done for the day...
No man is free who is not a master of himself. -P.M.-
  • #796
  • Oct 21, 2011 7:38am Oct 21, 2011 7:38am
Quoting pmullin86
eur usd buy knocked out for 2% and just manually closed out my gbp usd buy for 8% and I believe I'm done for the day...
Paul, when you have a mo' can you post the eu and gu charts.. I'm just wondering if they were 5m trend following entries.. I had looked at the gu as a possible trade on the 5m but I had thought that a portion of the 1hr rope was overbought so it put me off (there I go thinking too much again) lol

Thanks.
  • #797
  • Oct 21, 2011 7:42am Oct 21, 2011 7:42am
eu and gu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 46 KB
Click to Enlarge Name: gu.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #798
  • Oct 21, 2011 7:49am Oct 21, 2011 7:49am
Quoting pmullin86
eu and gu
Thanks.. didn't even bother with the eu as MA's didn't line up but it looks like stochs, close above 200, fail at pivot showed the way if I'm not mistaken.
  • #799
  • Oct 21, 2011 7:58am Oct 21, 2011 7:58am
Quoting balrog
Thanks.. didn't even bother with the eu as MA's didn't line up but it looks like stochs, close above 200, fail at pivot showed the way if I'm not mistaken.

Coolness...your not mistaken at all...it was the daily up and hour rope up along with the breakthrough the pivot and the five rope up that got me in and the gu was a little more technical as I got in despite the red portion of the rope bing too high on the five minute because I liked the fact that it was also a partial bsb set up and a partial countertrend set up all going with the trend and price bouncing off a hour trendline and all...so I got in...
No man is free who is not a master of himself. -P.M.-
  • #800
  • Edited 8:32am Oct 21, 2011 8:18am | Edited 8:32am
Took thus usdchf trade short:

Numerous reasons

Daily down
Hourly down and not o/b
5 min rope all down
pinbar fail at pivot
close below MA's (50 MA nerly below 100)
Descending trendline

Locked in 1%

Last of the day..

Update: Taking pmullins advice and locking in 2% (it's gone to 3% in a big candle down) as daily range not met yet

Update2: If it hits 0.8830 I'll take profits as it's close to daily range and S3

Update3: Bingo.. went to .88304 so closed manually for a little less than 4%... very happy to finish a difficult week like this..

I'll be back here next week trying to improve on things and spot some more good setups..
Attached Image (click to enlarge)
Click to Enlarge Name: uchf1.gif Size: 26 KB
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