Stairstep trading using the SQ dynamic indicator

I am moving on as you are agian trying to hijack this one. The 2 that were banned proceeded just lik ethis one where you flamed and got them so off topic that they sent them to no where land.

If I did abandon the thread its back now and yes out of aligance to those you treat poorly and unfairly. They want to learn sir and sincve you wont offer any guidance thinkingthey want to sabotage you. and I have an understanding of break outs channels and cinsolidations I am sharing it.

I am trading breakouts, channel CZ's what ever you want to call them, you dont own the franchise.

I have a MMS you dont.

I have direct steps you dont.

I trade manually yours is not or soon wont be.

I am posting trades and offering proof my method ( which is not completely revelad yet) works and is actually traded real time by the author you are not.

Others are developing your indcator and experimentsing with money mamangement and settings you have offered no advice at all and have banned member after member after member for asking about settings when they cant be duplicated accusingthem of not doing the work and making flippant comments about them.

You ban mambers when they find legitamate bugs in the indicator per the posting in this thread from a follower you banned from your thread.

So yes when a bully starts to bully I will step up Its the right thing to do.

How the heck do I ban this guy again

Are you using MT4? if so you can save your template to a file and upload it here.

I have attched teh screen shot of what is in my templates file and I ahve saved the template any idea how I attach

From your MT platform, go to chart --> template --> save template.

After you saved you template to a file, attached your file using Manage attachment link under Thread Options.

xiltang I promise I will get to it but am watching charts right now since TPR is a real time indicator and we cant go back and just take screen shots for illustration purposes I am trying to post screen shots for current and future use.

Like this one.

As we get further into this you will see how the TPR will help you filter bad break outs based on the amount of pips you can get if you take a break out.

In this screen shot you can see that the CZ that formed had a whipsaw effect. BUT

using teh rule of trade short under the sell line we would not have taken the long

We could have taken the short but look at the take profit line just below where it retraces back up.

Remember this chart for later hopefully it makes sense and some things are becoming clear

I also am not trying o lead anyone on here. I just think the best way to understand the method is to learn and see each indicator I am thinking next week we will will move on to the filter part so please be patient.

after all it equals profits

So CAD and GBP were the big movers last night with the loonie extending gains to the 2nd profit take point.

AUD and EURO are currently bullish and EURJPY is still bearish. It should be noted that I dont trade Yen pairs. I pointed that one out because it was a current chart to show how to trade. The trade was closed with 8 pips last night and I will not be counting that in our trade totals as I dont normally trade that pair and it would inflate my totals unfairly.

So here is were we stand heading into the US session spreads accounted for

GBP......32 pip

CAD......30 pip

AUD.......8 pip at posting and consoladating( forming a CZ)

EUR/USD....... -5 and back into the chop zone

I called the GBP trade so we will count that one.

With the US session started and the filter on EUR turning bearish and the fact that we fell back into the chop zone you are going to want to watch that pair. There is not really any real trend to speak of and even trying to find a CZ is hard. When you have to struggle to find reasons to trade a pair its a good thing to just move to a different pair.

It should also be noted that the CZ that formed under teh sell line on AUD would have produced more pips. We will get how to combine the 2 indicatoprs later in this thread. It should also be noted that there were 2 false breaks that would have resulted ina loss of 32 pips.

Ok so total pips to date

32 ( almost 2 days of trading in one night using our 17 a day goal, on our march from 1 to 100 )

Just a tad shy of its projected first proit take so 3 of 5 majors in the green overnight

#rd take profit hit on CAD 2nd TP on AUD and 1st TP on Euro

Wow a pretty good day I hope some of you were able to at least demo a few trades. A few things.

If you could please post the questions here instead of PM'ing me it would be great that way people can also learn. There are no stupid qiestions just stupid answers

I have been asked about scaling out at each level. This is something that I have looked at but do not practice. It can go one one of two ways.

Lets use $3.00 per pip as example for ease of math leverage $1/1000 since i have enough trouble typing. Using todays trades as example AUD went teh whole way to #3

Spreads accounted for

1) you scale out 1/3rd at a time First level you got $29 second you got another $52 and 3rd level $84. Nice a total of $165.00

2) you scale out 1/3rd and it never gets past level 1 you adjust stop to even after scaling out for $29 and get stopped out, If you had justr closed out you had $87. This might be fine with some but in many cases it will tick you off and you will try again to get the $50 you left on the table.

In addition since you scaled out you really only got 9 pips because you are trading $3 a pip so you are behind schedule.

3) you can take the $87 and know that you are 1 day closer to your goal of becoming a fulltime trader because you only need 17 pips a day to get there. You got that and have 12 pips to lose the next day without falling behind your goal.

I look to take profit at the first TP if I have no pips in the win colum for the week.

I also trade conservatively till I have pips in the win colum. An example of this would be the EURJPY trade in previous posts.

The thing is 17 pips is such a small amount its very attainable that EUrJPY trade had almost half that meaning you would have only needed 9 more pips to hit the daily goal. From there if you were on GBP or AUD or CAD or EUR( they all fired for great gains today) you could have locked 9 pips in and let them ride.
Because you achieved your goal.


Dont get caught in the hype or worry that you missed or left pips on teh table there is nothing worse then chasing losses or giving it back because you wanted more.

Greed Kills

more on the attached chart later but can you see how price consolodates just belwo each level

Ok so the indicator has reset. The moves in newyork today were pretty heavy. Price on most pairs has been consolidating and we are above or below the sell and buy lines. CAD represents the best opp right now as it us just short of teh sell line and in CZ.

Now the trade plans

CAD bearish bias and a below the sell line look to play sells to the profit target

AUD GBP EUR buys above the sell liines are prefered.

I also prefer for a retrace to the Chop zone and see if they hold as I belive price is over extended.

One last note if you are trading teh 1-100 plan we got 32 pips last night which is only 2 shy of the 17 pip average we want so really we can be very very picky and dont have to trade.

The SQ just signaled an AUD long. I have passed.

Here is why if you look at the screen shot you can see that price is consolodating right in the middle of teh but tp and teh buy line.

The TPR indicator marks support and resitance. I am to far from support in my opion and to far from resitance in my opion tomake a good trade. What I would like to see is a CZ form just the other side of the TP 1 and play a break higher on that.

Hello,

Wouldnt you know the pair I pick does nothing the pair I stay off of takes off. I apoligize for not updating but I have exam prep on Wed and Thur each week.

Might be a good time to talk about a trading basket.

Which is dividng your leverage amoung 4 pairs. Yes you make less per pip on each trade but you also dont have to wait for a piar to move or get hung.

So anyway I dont expect much tonight as teh FOMC is a buildingto be a huge event tommrow. Dont foget that QE# would be bad for teh bukc and bring back a risk enviorment. Most think its a sure thing that the Fed will launch it.

There are a few ways it could go. They dont do QE and the market drops like a rock( its a speculative market and people anticipate teh announcement)

They do QE and teh market pops then drops like a rock because its been priced in.

They do it and teh market soars.

Any way you look at it to play the news is gambling. To try and scalp during the news is a sure way to lose money. Yes you may get lucky but luck runs out eventually.

I have a saying watch teh news and lose. I simply wait for teh smoke to clear and dust settle then trade the techs.

This gives me a chance to work on the PDF.

Have a good night

Ok so since Ihave pips in my bank I tookthe long on aud

There is an SQ indocator CZ that formed on the chart as well setting for indicator are default except the auto box is turned off

I hope everyone had a nice weekend. Chart posted shown the AUD on consolidation just above the price target from the sell level. The CZ is drawn by hand. The filter is also bearish.

A break out to teh top side would target the sell level a breakout to the down side would target the next TPL.

Remeber teh TPL's are areas of projected support and resitance. As you can see in teh attached screen shot it is acting as support. A beak of support is confirmed with a close below support or a break retrace to the support area and then a conituation of the move.

The CZ is drawn by hand

So Aud broke out to the downside( not really a surprise when one looks at the filter. Target was hit for 29 pips and a few more.

Eur hit its TP1 and TP2

Good for almost 100 pips and never iin doubt using teh indicators

I asked for your template. Have not got one from you yet/

xlitang,

I dont use a template.

Settings for TPR are : default turn off label and set all colors to none

Settings for the NO trade zone are default set colors to blue,red,blue,red,blue and thickness to #2

thats the settings I am using.
you should be able to make a template using those settings but I dont know why you would need to just put the indicators and leave them there

I am not using something magic here the indicators are posted and hopefully those that are reading this thread are seeing the same set ups if your not please let me know.

Hi Calstar ..

I appreciate your work and your desire to share ..

Could you describe a bit about how you use the no trade filter in regards to entries and exits ...

Thanks Much......