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Low stress swing trading with momentum

  • #241
  • Feb 3, 2012 5:48am Feb 3, 2012 5:48am
GBPCAD update

This was really fun to watch when NFP and unemployment headline numbers came out much better than expected. I think QE3 hopes are fading.

Just have to love a good supply or demand zone on the daily. +77 pips right now. Now we just have to wait and see what really happens.


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I don't care which way the market is going as long as it's going my way
  • #242
  • Feb 3, 2012 8:53am Feb 3, 2012 8:53am
Busy day today with NFP report. NFP, unemplyment and non manufacturing PMI all better than expected.... So much for justification for QE3 but they will still talk about it.

The good data is really giving a boost to commodities and commodity currencies.

GBPCAD short limit order filled currently +140 pips already moved SL to BE

EURJPY short remaining piece have trailed the SL just above recent highs

AUDNZD short remaining pice have trailed the SL lower just above the demand zone it's currently in.

CADJPY short trailing stop on remaining piece filled.

AUDCHFshort, AUDUSD short and EURAUD long trades stopped out.


The account balance is lower than the day started but the equity is about the same = Net nowhere yet.
I don't care which way the market is going as long as it's going my way
  • #243
  • Feb 3, 2012 8:54pm Feb 3, 2012 8:54pm
USDCAD long limit order filled today too.


I'm not really happy with how things are going with the plan I'm trading right now on the daily. It's doing OK but it's a slower grind than I want and getting whipped out of too many positions in this headline driven trading. I need a better way to trail stops tighter because I'm sick of seeing positions in profit get turned around and stopped because some talking head said something.

I'm not completely killing the entire plan, I'm tweaking it a bit to try to get the results I want to see.

I'm going to move down to the 4 hr charts with supply and demand for entry, tighter initial stops, larger position size and trail with Heiken Ashi candles once the candle completely clears the zone into profit. All in and all out, nothing left to run.

I'm eliminating the fast trix and Ichimoku cloud matrix. They are almost usless for supply and demand zone entries as they will almost always give the opposite signals when you come into the zone, and when using the Heiken Ashi candles to trail the stop they simply are not needed.


Here's what I am looking at.

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Attached File(s)
File Type: tpl pipkiller_sd_ha_mm.tpl   40 KB | 309 downloads


Attached File(s)
File Type: mq4 Dragon_Money_Management.mq4   8 KB | 259 downloads


Attached File(s)
File Type: mq4 II_SupDem.mq4   29 KB | 295 downloads


Attached File(s)
File Type: ex4 THV3 HA.ex4   3 KB | 283 downloads


Attached File(s)
File Type: ex4 THV3 InfoPanel.ex4   27 KB | 272 downloads
I don't care which way the market is going as long as it's going my way
  • #244
  • Feb 3, 2012 9:01pm Feb 3, 2012 9:01pm
I'm sure somebody is wondering about me having an EA on the charts I've been posting. I'm surprised somebody hasn't asked about it. All I am running is the IBFX mini terminals so I can do 1 click trading when I want and it also makes order entry a little bit easier for me. I also keep news and economic data feeds on 2 charts. The AUDCAD which is the first chart I look at when I cycle through my charts throughout the day and the EURUSD which is what I watch the most.

Don't run a news indicator like this IBFX one or the SonicR FF Cal Headlines indicator on every chart. It will bog down your computer or crash the platform.

Here's the IBFX mini terminal you don't see when I'm posting just the charts on one I keep the event calender.

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I don't care which way the market is going as long as it's going my way
  • #245
  • Feb 3, 2012 10:02pm Feb 3, 2012 10:02pm
I like these colors better, easier on my old eyes.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.jpg Size: 89 KB


Attached File(s)
File Type: tpl pipkiller_sd_ha_mm_grey.tpl   27 KB | 294 downloads
I don't care which way the market is going as long as it's going my way
  • #246
  • Feb 4, 2012 11:36am Feb 4, 2012 11:36am
I have the colors and settings tweaked where I want them. Easy on my eyes and easy for me to see what I want to see.

Here's the template for this.

Dark red = supply zones... Hollow zones touched, solid zones untouched.

Dark Green = supply zones... Hollow zones touched, solid zones untouched

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Attached File(s)
File Type: tpl pk_sd_ha_mm.tpl   31 KB | 334 downloads

Attached File(s)
File Type: mq4 Dragon_Money_Management.mq4   8 KB | 308 downloads

Attached File(s)
File Type: mq4 HeikenAshi.mq4   4 KB | 278 downloads

Attached File(s)
File Type: mq4 II_SupDem.mq4   29 KB | 331 downloads

Attached File(s)
File Type: ex4 THV3 InfoPanel.ex4   27 KB | 292 downloads
I don't care which way the market is going as long as it's going my way
  • #247
  • Edited Feb 5, 2012 8:33am Feb 4, 2012 12:35pm | Edited Feb 5, 2012 8:33am
Trading Plan

H4 supply and demand rules

This plan is all in and all out leaving nothing on the table to run.

 

  1. Supply and demand zones

    1. Valid entry only on zones less than 2 x ATR in depth

  2. Entry

    1. Supply - Short

      1. OK to front run the zone by placing the limit order the spread below the bottom of the supply zone.

    2. Demand - Long

      1. OK to front run the zone by placing the limit order the spread above the top of the demand zone.

  3. Initial stop loss

    1. Enter SL with the initial order. No TP order placed. TP taken by trailing SL with HA candles.
    2. Short

      1. Enter initial SL the spread + a couple pips of wiggle room above the supply zone

    3. Long

      1. Enter initial SL the spread + a couple pips of wiggle room below the demand zone

  4. Exit

    1. Trail SL using HA candles once the candle close clears the zone

      1. Short - trail the SL the spread above the high of the candle
      2. Long - trail the SL the spread below the low of the candle

  5. Money management

    1. positions sized to 1 % of risk capitol balance based on the size of the SL order.
    2. Note: This is my risk tolerance, size positions to YOUR risk tolerance.

I don't care which way the market is going as long as it's going my way
  • #248
  • Feb 4, 2012 12:48pm Feb 4, 2012 12:48pm
Having a little fun doing a little play on color phycology too. Color is a lot more important to you than you realize.

Grey - Neutral
Red - Fear, panic and "Blood in the Street" as you'll see in major news headlines when the stock markets drop hard.
Blue - Trust
Green - Happy, spring time, go, greed, money


Blood in the Street
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Happy Money
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Mixed Emotions
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I don't care which way the market is going as long as it's going my way
  • #249
  • Feb 4, 2012 4:13pm Feb 4, 2012 4:13pm
killer:

I have a question about my gbpusd 4- hour chart. On my chart I have two purple rectangles. I am trying to determine if the farthest right rectangle could be considered a lower high in terms of a swing. Or, if the candlestick that coincides with the farthest right rectangle could be considered to have reached the "upper zone". Meaning that sterling has mearly bounced off the upper range and we are not looking at a possible reversal patter forming.

Wathca think?

Dust
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"Keep your eyes on the helpers" - Mr. Rogers
  • #250
  • Edited 9:33am Feb 5, 2012 9:08am | Edited 9:33am
Quoting damonl
killer:

I have a question about my gbpusd 4- hour chart. On my chart I have two purple rectangles. I am trying to determine if the farthest right rectangle could be considered a lower high in terms of a swing. Or, if the candlestick that coincides with the farthest right rectangle could be considered to have reached the "upper zone". Meaning that sterling has mearly bounced off the upper range and we are not looking at a possible reversal patter forming.

Wathca think?

Dust
You're long and I'm short... One of us is going to be right. That's what I think

I see indecision on the 4 hr.

Daily price is inside a supply zone.

H4 price is in a supply zone after bouncing hard out of the supply zone to the demand zone and back to supply during the NFP, unemployment and ISM reports friday

Symetrical triangle formed on the H4 also. Price is consolidating.... This is indecision. It's a considered a continuation pattern.

I'm short right now off the daily. I plan to trail the stop on this one off the H4 when the broker opens to 1.5829. and looking for a possible long at 1.5757

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I don't care which way the market is going as long as it's going my way
  • #251
  • Feb 5, 2012 9:49am Feb 5, 2012 9:49am
Interesting, I am long. But, I am wondering if I should be short as well. I will have to take a look at the daily chart now as well. No offense, but if someone has to be right, I sure hope it is me. .

Happy pippin!

Quoting PipKiller
You're long and I'm short... One of us is going to be right. That's what I think

I see indecision on the 4 hr.

Daily price is inside a supply zone.

H4 price is in a supply zone after bouncing hard out of the supply zone to the demand zone and back to supply during the NFP, unemployment and ISM reports friday

Symetrical triangle formed on the H4 also. Price is consolidating.... This is indecision. It's a considered a continuation pattern.

I'm short right now off the daily. I plan to trail the stop on this one off the H4 when the broker...
"Keep your eyes on the helpers" - Mr. Rogers
  • #252
  • Feb 5, 2012 10:35am Feb 5, 2012 10:35am
Quoting damonl
No offense, but if someone has to be right, I sure hope it is me. .

Happy pippin!


I don't care which way the market is going as long as it's going my way
  • #253
  • Feb 5, 2012 2:36pm Feb 5, 2012 2:36pm
Inserted Video


Quoting PipKiller


"Keep your eyes on the helpers" - Mr. Rogers
  • #254
  • Feb 5, 2012 4:46pm Feb 5, 2012 4:46pm
Quoting damonl
http://www.youtube.com/watch?v=5LWpw3CMCEg
Stop trailing. +20

I have some ice cream

Inserted Video
I don't care which way the market is going as long as it's going my way
  • #255
  • Feb 6, 2012 2:38am Feb 6, 2012 2:38am


I frickin' love that tape. Now I am dating myself. Tape.

My parents hatied me listening to that so it only made me want to listen to it more

Quoting PipKiller
Stop trailing. +20

I have some ice cream

http://www.youtube.com/watch?v=2JfMCBh1sJQ
"Keep your eyes on the helpers" - Mr. Rogers
  • #256
  • Feb 6, 2012 2:48am Feb 6, 2012 2:48am
Inserted Video
"Keep your eyes on the helpers" - Mr. Rogers
  • #257
  • Feb 6, 2012 5:10am Feb 6, 2012 5:10am
Quoting damonl
http://www.youtube.com/watch?v=LR9iu94VzCI
... What did he say, all I heard was beep, beep, beep....


+58 locked in with trailing stop
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I don't care which way the market is going as long as it's going my way
  • #258
  • Feb 6, 2012 5:25am Feb 6, 2012 5:25am
You did get that trade, and here I sit waffling. Well, maybe I will see a pullback and that will give me the entry I an trying for. We'll see what she gives back. Hope you have a nice day!




Quoting PipKiller
... What did he say, all I heard was beep, beep, beep....


+58 locked in with trailing stop
Attachment
"Keep your eyes on the helpers" - Mr. Rogers
  • #259
  • Edited 6:31am Feb 6, 2012 6:21am | Edited 6:31am
Quoting damonl
You did get that trade, and here I sit waffling. Well, maybe I will see a pullback and that will give me the entry I an trying for. We'll see what she gives back. Hope you have a nice day!

She's coming back north some right now. Looks like she wants my trailing stop.

No telling what NY will do when the stock markets open in a few minutes.


ADD...... She got me, Trailing stop filled. All she would give me was 58 pips..... Next
I don't care which way the market is going as long as it's going my way
  • #260
  • Feb 8, 2012 2:07am Feb 8, 2012 2:07am
WTF dude, you are roclin' the house here. Nice job pipin' here lately! It looks like u got them all back. Kudus to you

What do you think about short eurcad right now? I am not sure. It looks like price action is crossing the price zone . (Used them .) First is was below it, than above it, then below, than above, and below it and above it again. All upward jumps have produced lower highs

I went short earlier per my rules and normally would have taken the loss, but seeing this newer info, decided to stay in and open up a second short at this TL. Whatcha think about this second short and my reasoning? Do you like it? I set a limit order just for you , but that messes up some of my other things, but that is my dealz. But, you are right, a limit order may miss some trades, but it is how to get closest to the order price and keep the SL the smallest

Dust

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Quoting PipKiller
She's coming back north some right now. Looks like she wants my trailing stop.

No telling what NY will do when the stock markets open in a few minutes.


ADD...... She got me, Trailing stop filled. All she would give me was 58 pips..... Next
"Keep your eyes on the helpers" - Mr. Rogers
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