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  • #61
  • Jan 12, 2012 12:22pm Jan 12, 2012 12:22pm
Congrats on your profitable trading day. I only watched E/U and I love how simple things are. For some reason my pender orders did not get filled and I was sleep when the short was signaled so I did not win or lose anything but I love how I was able to wake up and then just backtest the trades and know that I don't have to worry about repainting or anything like that.

The best aspect of this method is that it will force people to stop trying to trade all day long. By trading during the London session and the US session, you are trading when the market is volatile enough to make some profits and close up shop for the day.

In my trading career, the majority of my bad trades where when I was trying to trade at 2pm PST and stuff like that. When I focused on the London and US sessions, trading became so much more easier and much more profitable.

Quoting Line-Trader
Well, a day not for the feint hearted, to say the least.

Here's todays results:-

DOW +1 +1 +1 -1 +1
FTSE +1 -1 +1
S&P +1 -1 +1 +1 B/E

E/U -1 +1
[size=3][font=Comic Sans MS][color=blue]G/U...
  • #62
  • Jan 12, 2012 2:42pm Jan 12, 2012 2:42pm
Ok,

Here's a couple of charts from today..................
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU 12 Jan.jpg Size: 99 KB
Click to Enlarge Name: GU 12 Jan.jpg Size: 106 KB
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #63
  • Jan 12, 2012 2:59pm Jan 12, 2012 2:59pm
Hi, TL I ahve a couple of questions that I carnt get my head around,

1/ ftse today c-was 5673 d-was 5656 if the markert went to 5675 do i enter or wait for the 1m candle to close on or above 5675, do you do it manualy or put a pendind order at 5675 to enter yhe trade.I know you put pending orders for A and D.

2/ I am new to all this so please be patient (its easy when you know how)

i only want to look at 3 pairs max until i am more confident in this trading style, can you recomend what pairs i should start off with.

Thanks for any help
Making money is easy,losing money is easier
  • #64
  • Jan 12, 2012 3:09pm Jan 12, 2012 3:09pm
Quoting Stompe
Hi, TL I ahve a couple of questions that I carnt get my head around,

1/ ftse today c-was 5673 d-was 5656 if the markert went to 5675 do i enter or wait for the 1m candle to close on or above 5675, do you do it manualy or put a pendind order at 5675 to enter yhe trade.I know you put pending orders for A and D.

2/ I am new to all this so please be patient (its easy when you know how)

i only want to look at 3 pairs max until i am more confident in this trading style, can you recomend what pairs i should start off with.

Thanks for any...

Price opened between C and D so all you look for is a closing candle above C then enter long once the candle has closed........... No pending orders are placed at lines B or C.

Hope this makes sense.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #65
  • Jan 12, 2012 3:11pm Jan 12, 2012 3:11pm
Guys,

Tomorrow is FRI 13th (call me supersticious)

Not gonna be trading.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #66
  • Jan 12, 2012 3:28pm Jan 12, 2012 3:28pm
Lt , Yes it does make sense know, if for some reason the candle that breaks closes 10 points above would you still take that trade or wait for the next signal.
Making money is easy,losing money is easier
  • #67
  • Jan 12, 2012 4:30pm Jan 12, 2012 4:30pm
Quoting Stompe
Lt , Yes it does make sense know, if for some reason the candle that breaks closes 10 points above would you still take that trade or wait for the next signal.

Stompe,

A very good question.

10 points above?? Me personally, I wouldn't take the trade, I'd wait for a pullback before I entered. Todays FTSE for me was 3.5 points above the line so I entered.

But if you look at U/CAD today at approx 1:30pm (news time) then that was a no go(11 points above), but 50 mins later it retraced and a good entry was made.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #68
  • Jan 12, 2012 4:51pm Jan 12, 2012 4:51pm
I was wondering if anybody knows of a broker that has the Dow and S&P indices, along with forex currencies.

I'm looking to open a demo account with one broker that offers the above pairs and indices so I can just trade from one platform.

LT was kind enough to recommend a broker where my requirements are met but they don't allow traders from the United States.

Any suggestions would be great appreciated.

Giving my thanks again to LT for being such a kind soul and willing to share and help others.

  • #69
  • Jan 12, 2012 4:53pm Jan 12, 2012 4:53pm
The plot thickens.

when you say pullback do you mean to the 2 points or breaks the line then goes back to the 2 point mark?.

I still am not quit sure on the 2 points eg ftse is 4565 on line c some brokers have an extra digit ie 45650 is the 2 points 4565.2 or 4567?,I am really sorry to be a pain, but my head is spinning.

Making money is easy,losing money is easier
  • #70
  • Jan 12, 2012 5:01pm Jan 12, 2012 5:01pm
Quoting Stompe
The plot thickens.

when you say pullback do you mean to the 2 points or breaks the line then goes back to the 2 point mark?.

I still am not quit sure on the 2 points eg ftse is 4565 on line c some brokers have an extra digit ie 45650 is the 2 points 4565.2 or 4567?,I am really sorry to be a pain, but my head is spinning.


For lines B and C the 2 points don't come into the equation... On these lines all you are looking for is a close above (line B) and then a close below (line B).

As soon as that happens then go short.... Opposite for line C.

The pricing on the FTSE is (with my broker).... 5654 to 5655 = 1 point

Hope this removes the confusion
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #71
  • Jan 12, 2012 5:22pm Jan 12, 2012 5:22pm
Quoting LuckyLefty
I was wondering if anybody knows of a broker that has the Dow and S&P indices, along with forex currencies.

I'm looking to open a demo account with one broker that offers the above pairs and indices so I can just trade from one platform.

LT was kind enough to recommend a broker where my requirements are met but they don't allow traders from the United States.

Any suggestions would be great appreciated.

Giving my thanks again to LT for being such a kind soul and willing to share and help others.

For some reason some broker prices for indices are totally different from each other..

Once you have downloaded a demo PM me the prices you have on your screen at a given time and I'll check my screen to make sure they match
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #72
  • Jan 12, 2012 5:27pm Jan 12, 2012 5:27pm
Now I see thank you very much, i was putting to much emphasis on the 2 point on lines b and c.

I use I G Index , can you recomend a decent Broker that wont kill me with spreads.

I know you trade your system for a living do you have many bad periods and if so how long do they last?

I am excited about this trading lark but scared at the same time.

Cheers you have made my night, I will sleep better now.
Making money is easy,losing money is easier
  • #73
  • Jan 12, 2012 5:38pm Jan 12, 2012 5:38pm
Quoting Stompe
Now I see thank you very much, i was putting to much emphasis on the 2 point on lines b and c.

I use I G Index , can you recomend a decent Broker that wont kill me with spreads.

I know you trade your system for a living do you have many bad periods and if so how long do they last?

I am excited about this trading lark but scared at the same time.

Cheers you have made my night, I will sleep better now.

IG are fine.

Bad periods? Don't really get them, but that doesn't mean you don't get losers. Monday this week wasn't very good (but I rarely trade the Mon after NFP)

There will always be good days and bad ones, there's no getting away from it.

With regards to your comments about being excited & scared...... Just remember good Money Management is CRUCIAL

Without it you'll fail for sure.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #74
  • Jan 12, 2012 5:58pm Jan 12, 2012 5:58pm
You have only posted your trades on here for a short time, today you had a lot of trades is this normal, aprox how many trades a day do you take?

I know the market dictates this but is today a normal day ?
Making money is easy,losing money is easier
  • #75
  • Jan 12, 2012 6:25pm Jan 12, 2012 6:25pm
Quoting Stompe
You have only posted your trades on here for a short time, today you had a lot of trades is this normal, aprox how many trades a day do you take?

I know the market dictates this but is today a normal day ?


Stompe,

Today was a nightmare.

Ok, ended up +2 but it was hard going. Hence the reason for deciding not to trade tomorrow

Alot of high impact news was out between 1:00pm and 2:00pm (Eur, Cad, Usd) and everything happened at once.

Entries were being made and before SL & TP could be set the next entry came along.

28 trades in total today.... Which is a rarity.

Normally there's about 12 or so trades a day. That's the reason why I stop trading once 2 or 3 TP's have been hit by lunchtime.

I'm not a fan of trading whilst both London & NY markets are open.......... I like to be done & dusted before NY opens, but it doesn't always go to plan.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #76
  • Jan 12, 2012 6:35pm Jan 12, 2012 6:35pm
Thanks for all the info you have given me I see your system is simple and stress free no indis or noise on your charts, this is the type of system that i have been looking for
I have read so many threads that talk about simple systems that when they come down to it they are not simple at all , and when you use them they dont work the same.

Have a nice long weekend and look forward to next week
Making money is easy,losing money is easier
  • #77
  • Jan 13, 2012 4:35am Jan 13, 2012 4:35am
Ok,

Here's this weeks results:-

Mon 9/1 No Trade Day (Mon after NFP)
Tues 10/1 +5.6%
Wed 11/1 +4.15%
Thurs 12/1 +2%
Fri 13/1 Not Trading (Day Off)


Total +11.75%
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #78
  • Jan 13, 2012 5:08am Jan 13, 2012 5:08am
Quoting Line-Trader
Ok,

Here's this weeks results:-

Mon 9/1 No Trade Day (Mon after NFP)
Tues 10/1 +5.6%
Wed 11/1 +4.15%
Thurs 12/1 +2%
Fri 13/1 Not Trading (Day Off)


Total +11.75%
Hey L T

Nice results!

Trading the break of line A and D, stop is always 2 pips inside B or C

Trading the the the reversal on line B and C, you wait for close back inside the line, but do you have a limit,as to how far inside the line you will take a trade (if it closes say 10 pips inside is it still valid?)
  • #79
  • Jan 13, 2012 5:33am Jan 13, 2012 5:33am
Quoting FOURX
Hey L T

Nice results!

Trading the break of line A and D, stop is always 2 pips inside B or C

Trading the the the reversal on line B and C, you wait for close back inside the line, but do you have a limit,as to how far inside the line you will take a trade (if it closes say 10 pips inside is it still valid?)

Morning,

Your 1st question ----- Correct

Your 2nd question ----- 10 points is too much really. I prefer to see it nearer the line. I usually wait for a retracement to within 2 or so points of the line for a better entry price. If it doesn't happen it's no big deal.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #80
  • Jan 13, 2012 5:56am Jan 13, 2012 5:56am
Quoting Line-Trader
Morning,

Your 1st question ----- Correct

Your 2nd question ----- 10 points is too much really. I prefer to see it nearer the line. I usually wait for a retracement to within 2 or so points of the line for a better entry price. If it doesn't happen it's no big deal.
Thanks L T

So if it closes back inside your B or C line by more than 2 pips you ignore the trade?
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