Islander and Medici trade the European open | Page 200 | Forex Factory

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Islander and Medici trade the European open

  • #3,981
  • Mar 28, 2012 3:00am Mar 28, 2012 3:00am
Quoting Krisdetrader
Hi Medici,

I have noticed many conditions you entry the trade. Do you mind if you listed them to clarify everything (for me at least)? As per your last post I realized I don't take Good Trades, as to being constantly confused as most of trades I would take, they can also be taken the opposite way... just too many entry setups... overtrading demons creep behind me .

I will sit down and erase all my scribbled rules and start with a blank new sheet.

And you're right about the big wave. It really takes guts to hold with it till the end.
Attachment ...
Hi Kris. I am aware that I post a lot of trades here that are not by the rules per se (i.e. based on other criteria), which may not be very instructive.

When starting out it could be helpful to focus on one kind of setup only, and the most clear cut ones are pullbacks in established trends. In other words, wait for the cloud direction to become established with good slope, and then wait for a pullback into the cloud.

Makes sense?
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  • #3,982
  • Mar 28, 2012 3:07am Mar 28, 2012 3:07am
Many thanks Medici. I will hold on to this until I become consistently profitable. We will then revise the rules for me to go one step further. is that ok with you?
  • #3,983
  • Mar 28, 2012 3:10am Mar 28, 2012 3:10am
Quoting Krisdetrader
Many thanks Medici. I will hold on to this until I become consistently profitable. We will then revise the rules for me to go one step further. is that ok with you?
Np. Apologies for posting "naughty" trades. As to your question, yes, practise this one setup until you have developed confidence and consistency. Then let's add to the toolbox.
  • #3,984
  • Mar 28, 2012 3:39am Mar 28, 2012 3:39am
Quoting medici
Np. Apologies for posting "naughty" trades. As to your question, yes, practise this one setup until you have developed confidence and consistency. Then let's add to the toolbox.
I hope we'll still see some "naughty" ones, to keep the learning curve at a good steep angle..
Follow, don't anticipate.
  • #3,985
  • Mar 28, 2012 4:14am Mar 28, 2012 4:14am
Quoting Ian
I hope we'll still see some "naughty" ones, to keep the learning curve at a good steep angle..
I've made the same argument in favour of such posts. After all, Medici's been providing the occasional disclaimer so it's our own fault if we take a hit trying to emulate it, right?
  • #3,986
  • Mar 28, 2012 4:21am Mar 28, 2012 4:21am
Quoting Auron112
I've made the same argument in favour of such posts. After all, Medici's been providing the occasional disclaimer so it's our own fault if we take a hit trying to emulate it, right?
Precisely...
Follow, don't anticipate.
  • #3,987
  • Mar 28, 2012 8:38am Mar 28, 2012 8:38am
Do I trade the news? Not really, but I do trade the reaction to it.
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  • #3,988
  • Mar 28, 2012 9:55am Mar 28, 2012 9:55am
Gratz Auron!

I missed that one. I took the following two, but chickened out at the first opposite bar... My SL is 7, so had 1:1.5 RRR, but that is nothing to your appetite!

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  • #3,989
  • Mar 28, 2012 10:08am Mar 28, 2012 10:08am
Quoting Krisdetrader
Gratz Auron!

I missed that one. I took the following two, but chickened out at the first opposite bar... My SL is 7, so had 1:1.5 RRR, but that is nothing to your appetite!

Attachment
Nothing to my appetite? Then why am I salivating looking at your chart?

Great job, man! Keep it up!
  • #3,990
  • Mar 28, 2012 10:33am Mar 28, 2012 10:33am
Thanks, I really appreciate it.
It has been a good day; tomorrow will be even better surfing those waves.
  • #3,991
  • Mar 28, 2012 10:38am Mar 28, 2012 10:38am
Quoting Krisdetrader
Thanks, I really appreciate it.
It has been a good day; tomorrow will be even better surfing those waves.
Well done Really pleased to see you get the hang of it
  • #3,992
  • Mar 28, 2012 11:08am Mar 28, 2012 11:08am
EU 8-RB. saw the divergance entered @x.xx86 took the ride up to the 00 level.
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  • #3,993
  • Mar 28, 2012 11:47am Mar 28, 2012 11:47am
Quoting rebelheart
EU 8-RB. saw the divergance entered @x.xx86 took the ride up to the 00 level.
Excellent Nice with some RB pips to Ireland too And we are becoming a team of people profiting from the Cloud + Oscillator setups. Very nice!

As to your trade, I took that long too, but this was a "naughty" one from the 1.3278 level. There was a strong push up from that level, and when it held on a retest I entered at 1.32797. Exit at 1.3300, but only after it failed to continue up.
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  • #3,994
  • Mar 28, 2012 11:51am Mar 28, 2012 11:51am
Auron112:

Please, could you share your template?

Thanks in advance!

g
  • #3,995
  • Mar 28, 2012 12:35pm Mar 28, 2012 12:35pm
Quoting guibernaua
Auron112:

Please, could you share your template?

Thanks in advance!

g
Sorry, I don't really want to share my template. However, you can easily find everything you need in the thread including indicators and various settings (and it's important to do the research to understand why they are set the way they are).

The paperclip in the upper right (by the page selection area) will let you see the attachments and it will be easier to find what you need if you filter out pictures.

To make it easier on you I have these indicators on my charts:

Price_Enlarge_v1
SDX-SweetSpots_v4_MP6L
T3MA Colour
T3 Guppy Cloud
SonicR FFCal Headlines
SpacedLines
T3MA Dynamic Envelope
Time

and lastly T3 Oscillator in its own window at the bottom.
  • #3,996
  • Mar 28, 2012 12:49pm Mar 28, 2012 12:49pm
Quoting Auron112
Sorry, I don't really want to share my template. However, you can easily find everything you need in the thread including indicators and various settings (and it's important to do the research to understand why they are set the way they are).

The paperclip in the upper right (by the page selection area) will let you see the attachments and it will be easier to find what you need if you filter out pictures.

To make it easier on you I have these indicators on my charts:

Price_Enlarge_v1
SDX-SweetSpots_v4_MP6L
T3MA Colour
T3 Guppy Cloud
SonicR...
Thanks, I understand.

g
  • #3,997
  • Mar 28, 2012 1:19pm Mar 28, 2012 1:19pm
Quoting medici
.................And we are becoming a team of people profiting from the Cloud + Oscillator setups.........
Not for me so far this week!!!. Only 53% hit rate coupled with bad MM = Sore account and PMD (Pip Makers Depression?). I know, I know, Follow not anticipate. So much for my new 1 chart & Uri Geller stylee focus this week.
doc.
  • #3,998
  • Mar 28, 2012 1:28pm Mar 28, 2012 1:28pm
Quoting Dr.Scalpall
Not for me so far this week!!!. Only 53% hit rate coupled with bad MM = Sore account and PMD (Pip Makers Depression?). I know, I know, Follow not anticipate. So much for my new 1 chart & Uri Geller stylee focus this week.
doc.
You should share a few charts, it could be helpful. Any guesses (or hopefully firm data) on what's been hurting your results this week? Too many CT trades? Not following the MAs?

No worries though. Loads of time to get back on track to finish off the week if you have worked out where the mistakes are being made and have a plan to turn it around.
  • #3,999
  • Edited 3:45pm Mar 28, 2012 3:43pm | Edited 3:45pm
Easy to see where I went wrong and why afterwards but I suppose somebody has to be on the other side of medici's trades early doors!. today I can tick the boxes on poor timing , not letting her run, S/L too tight, and down right shootin from the hip - especially at pivots and even sometimes before its even got there for which there is no excuse!!.A bit to go yet before I dig out the tin whistle and old mac from the potting shed?? or should I try "Big Izzue, Big Izzue plizz" next time!!!.
I must also make it clear that the last few weeks have been far from disappointing trading the clouds .

doc.


Quoting Auron112
You should share a few charts, it could be helpful. Any guesses (or hopefully firm data) on what's been hurting your results this week? Too many CT trades? Not following the MAs?

No worries though. Loads of time to get back on track to finish off the week if you have worked out where the mistakes are being made and have a plan to turn it around.
  • #4,000
  • Mar 28, 2012 8:12pm Mar 28, 2012 8:12pm
Thanks for making me learn about range bars, they do seem to make technical trading clearer. Have you guys estimated how they compare to time charts. For example, a 15 pip chart seems close to the hourly to me, perhaps a bit less.

Anyway, I was going to show you a setup I found today which seems really good. It uses a 50 TEMA (triple exponential average) with a 12,26,9 reverse engineering MACD on the chart. The setup is that one will notice at times the momentum makes the 50 TEMA outpace past the pink MACD line, and this is about always a reversal. There is one occurring as I speak on the Euro.

But here is one a few days back on the Euro 5 pip range chart.

Below the pink and blue lines is the MACD, while the dotted line is the 50 TEMA. Check your indicator for divergence, which there probably will be. I'll do a backtest on it, but it looks good going 10 days back. In a real hot trend, once it was only good for 10 pips, but usually 20 or more it seems.
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