M15 Trading Method (help required!)

Do we use the same 66 LWMA envelope on all pairs?

Thanks

The 66 is the same but these use different numbers to 0.4% 0.7%


AUDUSD is using 0.6% 1.0%
EurJpy 0.5% 0.8%
NZDUSD 0.7% 1.20%


Don't forget MUST trade with the 540lwMa or the 1300ema ( AUDUSD 540Lwma, 750ema, NZDUSD 540, 900ema )

Breaking this rule, puts you into a world of losses!!

No trades today, to much work

EU bounced off 540 and 0.4% perfectly.

AU off 0.4%

EJ of 1300ema again, 7 times or something without a break.

USDCAD might of been a bad ride loser if you'd of jumped into that,.

NZDUSD back to 1300ema to.

USDCHF same setup as yesterday worked to.


It works day after day, being around to take the 2 or 3 setups which happen is the tricky part, but hey guaranteed money pretty much so got to stick to the plan.

Damn system looks to damn good, better starting upping my game and Lot sizes!!


Role on better laptop and 3G MiFi access!!

Great info. Ranging these 2 days.

Markets are to flat to trade, only GBPJPY even got to the 0.4% today and I missed that sadly.

Might put in a order spread, nearing 121.00 and see if I get any biters though, while out.

NZDUSD bouncing on the 1300ema to, total lack of energy but risk 30 - 40 pips for potential 100 with a 60% profit chance isn't bad odds.

Orders, gbpjpy 121.25 x 2 , 121.10 x 2, 121.00 x 3 SL 120.80 on all.

NZDUSD, 0.7950 x 2, 0.7940 x 2, SL 0.7920


And we shall see if I get any biters over the day, no time to monitor so find out on my return!!

Odds are missed both entrys and won't get a 2nd entry, but hey it's 1min to set them up

In both first position still holding so far so good trying to hold longer.

And holding longer killed me all sl s hit -15% i tried to close on phone and lost connection darn!!!!


Ohhh well big news i guess!

That was bad NZDUSD wasn't so bad, just pipped the SL, IF I was around I'd of spotted the 540 hit and reverse and also 0.8000.

GBPJPY really hurt as I'd given that 1 more room and more pips ohhh and I see the sucker of it is is it hit the SL by 12pips then reversed, 15 more on the SL and I'd be nice up here.


45 x 3 15 x 2 20 x 2 = +$26. with the jpy exchange

BAD DAY all round basically!!

System actually held up, shoulda seen the GJ exit to the downside of leaving it be

Need to revamp my averaging down also, very frequently like earlier only 1 position got in, still coulda took $20 at best on both or something but when they slip against you that much odds are they might not turn in time.

So I'm going to buy less as it goes down.


Start with $0.2 ( as account took a hit ) then 1 , 1, back to 3, 2, 1 later I guess.

NZDUSD would be +$32 here, not bad for risking / losing in this case $12.


All cause SL to close, I'd be +$60 on the day there 25%


Role on Laptop + MiFi arriving so I can monitor while at clients easier.




SL's are the enemy!! I need to start trading without I think, risk bigger losses for less frequent losses sounds a good trade off at the moment.

Hmmmm decisions decisions!!

The Decision is made, I am dumping SL's, entrys with trend will be the same, Lot size will be reduced slightly for the time being.


Reviewing data and all losses have been SL related and wasteful, just dropping another form of prediction, manually exit when / if the trend changes against me at a better price that likely some SL near bottom number.


Likely no more trades this week, to busy, to tired and no descent charting ability to monitor.

TRADING!!!

Running the numbers, no SL is looking great 98% of the time, 2% of the time it's BAD, but it reduced the death by a 1000nd cuts so it's all good.


Lots have the change to take the potential draw down, but not that worried cause they are rare.

The ONLY times I will lose is trend changes or when I think the trend is changing and I take my loss, holding against the trend = account BLOWN, but I'd prefer to make that decision rather than a SL.

Most of my trades work from the start so going to stick with $0.2 but only average down with $0.1's and want 20pips between each or very near that, to a max currently of $0.50 then a 100pip move below average costs me $50 ( $65 with EJ ), I'd of made $70 today rather than losing $40 so I'd be potentially +$110 better off here.

AUDUSD has been uptending based on the 750ema ( not 1300 ) for 14 days, no SL, no trend change = ZERO Losses and 1000's of pips buying every pull back with the trend.

I think this will work, I think this is a smarter move.

Well can try it and if it fails, can add more money to the account.

Turveyd,
Have you thought of putting your SL outside the envelopes? At least you don't blow your account in case of greater stop hunts. Just a thought.

Market rarely moves out of it so it works kinda but the envelopes move so when im away i cant easily move the sl when away to adapt to that.

It quick market spikes which generally reverse just as hard that knock out good trades.

Might have a account saving sl far far away 30% account but even that could be hunted and reversed.

Less lots and only 1 pair at a time to reduce account risk and 20 pip average downs rather than 10 seem to work.


Nzdusd would be up huge here i need to move to longer holds to increase profit aswell.

Didnt trade yesterday.

Open my charts today and saw Euro bounce right from the lower envelope up to the higher envelope with a confirmation signal.

Perfect setup i reckon.

http://screencast.com/t/Zxn7ixgZ6aMs

It really does work thats why im annoyed sl's are wasting time and money here needlessly

Your ownly using the ranges arent you get your head around the trend lines and use off and you will see the full potential.

New rule is longs over the 1300 ema shorts under only need a slower trend if trading no sl's.

On the basis 1300 is my line in the sand if that fails im in trend change my sl should be there with 30 pips spare.


I will back test some costings based on that hitting and likely hood.

Shame on those losses this week abit higher and id be bumping the account up to get it nearer full time level.