Another 15 minutes for me and I'm gonna call it over here for tonight.
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DislikedAnother 15 minutes for me and I'm gonna call it over here for tonight.Ignored
DislikedYour 'lengthy' answer appreciatedThis kind of level play deserves attention. Will get around to some kind of statistical study when I get the time.
What I dislike about what I've seen is that it's highly discretionary, and if the 'belief' that prices moves between these levels is justified, then it should be possible to formulate some rules for trading them. My own use of the is in conjunction with the RB MA rules as described here.Ignored
DislikedSounds good mate, would be keen to hear your thoughts.
I've managed to develop a set of rules - based on guidelines given to me by the guy who showed me this method - with my own spin added.
I trade off a 10 tick chart as it enables me to see things clearer trading this way.
Gonna call it over here, time to relax!
Have a great day mate.Ignored
DislikedWhat kind of track record, in terms of hit rate and risk/reward, would those rules give?
Enjoy your evening!Ignored
DislikedGM all - here's the first trade of the week. Seems to be going well so far.
EDIT - closed at the 3438 level.Ignored
Disliked
Indeed! Once I get to the full-time point with this I may pack up shop and move countries for awhile. I hear the tax scheme in Switzerland is goodIgnored
DislikedClosed the first two positions for average +15 and let the other run to see if we could reach the 5 day ADR at 3366 which we did. +26 on that one.Ignored
DislikedVery nice idea. Apart from the fiscal advantages I can think of several worse places to live. Whilst holidaying in Northern Italy a couple of years ago we ventured over the border to Lugano. Nice city, stunning lake and views, civilised people. Enjoying a lake-view restaurant terrace with a plate of seafood risotto and a cold beer my companions and I were earnestly discussing the possibility of not bothering to catch the return flight back to London.
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DislikedSince I've really started to grasp the concept - it's taken me awhile and I definitely still have some polishing to do!
I'm probably hitting 3/5 on a sloppy night and better on normal nights (sloppy meaning price flopping around the levels and not respecting them as usual)
All trades 6 pips risk and 12 pt sometimes banking at 10-11 or 13-15 or more.
The guy who taught me this hits about 4/5 very consistently. He uses pending orders on pullbacks which I used to but with such a tight stop it was annoying watching price pull back through my entry...Ignored
DislikedToo busy early am so missed that nice LH at today's open level.
Didn't like the subsequent sideways action but I took the later drop below the cloud at 3399 (two half size positions). Stupidly didn't adjust my stop to above the SS one one position so got stopped out for -15. Re-entered that one at 3403 and took a third position at 3394 after another LH.
Closed the first two positions for average +15 and let the other run to see if we could reach the 5 day ADR at 3366 which we did. +26 on that one.
In retrospect it would have been better to wait...Ignored
DislikedBeautiful picture! I don't blame you for contemplating cashing in the return tickets.
It's a serious option for me; I love Australia but the tax is a joke and I'm not a fan of the heat. A few more years here I think and I'll be taking my laptop and trading with a lake viewIgnored
DislikedThanks for sharing. 4/5 at better than 1:1.5 would be good enough, I think.
Considering the 6 pip stop, why not trade 3 pip range bars (as Doc Scalpall does) instead of the noisy tick charts? Then put a couple of MAs on, and rule making could be simplified, perhaps. What do you think?
See attached for your trades this morning.Ignored
DislikedDunno, guys. Over the past 10 years I've tried living in the mountains near ski resort, in bungalow with ocean view, and a couple of places in between, and my finding was that one easily underestimates one's social needs. So bring your mates with you, or you may, after a few months, start to feel very isolated socially and culturally.Ignored