DislikedYou can combine them yes but I've just had a quick look and there were two levels on top of each other. One of them were bound to turn price.
I didn't see the rejection I like to see off the first level. It really did slice through it.Ignored
C-12's Supply, Demand and PA thread
C-12, do you ever trade during this time of the day as well?
Since im at work I can only trade in the evenings european time, and now I wanted to start trading the M1 strategy.
Ive tried this 2 days during London and it worked pretty well! But during the evenings, I struggle with lower volatility.
What do you think about that? Is it possible to make 10 pips on the evenings with the M1 as well with this method quite efficiently?
(I will try it out anyway, just would like to hear your two cents
)
Since im at work I can only trade in the evenings european time, and now I wanted to start trading the M1 strategy.
Ive tried this 2 days during London and it worked pretty well! But during the evenings, I struggle with lower volatility.
What do you think about that? Is it possible to make 10 pips on the evenings with the M1 as well with this method quite efficiently?
(I will try it out anyway, just would like to hear your two cents
)
Yep that's it. Although the initial level you highlighted looks more like a pullback into the upper level. There was a lot of trading activity up there. Although you can certainly combine them.
It's about getting the balance between getting in as close to the level as you can while having confirmation the level has rejection.
- #528
- Nov 13, 2012 11:00am Nov 13, 2012 11:00am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
C-12, do you ever trade during this time of the day as well?
Since im at work I can only trade in the evenings european time, and now I wanted to start trading the M1 strategy.
Ive tried this 2 days during London and it worked pretty well! But during the evenings, I struggle with lower volatility.
What do you think about that? Is it possible to make 10 pips on the evenings with the M1 as well with this method quite efficiently?
(I will try it out anyway, just would like to hear your two cents
I'm lucky that I get to trade in the morning before work and pretty much all day Weds, Thurs and Friday. My favourite being around the London open and the NY open. The market seems to move quickly and cleanly.
- #529
- Nov 13, 2012 11:01am Nov 13, 2012 11:01am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
Got it. Thanks a lot C-12
- #531
- Nov 13, 2012 3:46pm Nov 13, 2012 3:46pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #532
- Nov 13, 2012 3:57pm Nov 13, 2012 3:57pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
GDR trades via S/D tested his numbers and surprising accurate entrys.
Too much like hard work for me, and not enough entrys per day.
Sam Seiden in his XLT program trades very similar small time frame levels.
He trades the CME futures. 8 standard contracts at $12.50 per pip. A straight 10 or 11 pip move and he's bagged over $1000.
These trades are done and dusted in minutes.
- #533
- Nov 13, 2012 4:00pm Nov 13, 2012 4:00pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
You know the answer to this T... Increased position size.
Sam Seiden in his XLT program trades very similar small time frame levels.
He trades the CME futures. 8 standard contracts at $12.50 per pip. A straight 10 or 11 pip move and he's bagged over $1000.
These trades are done and dusted in minutes.
Sadly being poor, I need the dream being 20trades per day all netting 10 - 20 pips!! Anything much less isn't worth bothering with at this stage.
GDR does some huge amount to, makes it worth his while sitting there all day waiting.
I need something I can jump on for a hour or 2 then go do something else, or fit in for 30mins between work / kids!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #534
- Nov 13, 2012 4:38pm Nov 13, 2012 4:38pm
Good question. It's definitely harder after 5pm UK time due to the market dying a death. I'm sure the levels still work in the same way though. Keep us posted on how you find it.
I'm lucky that I get to trade in the morning before work and pretty much all day Weds, Thurs and Friday. My favourite being around the London open and the NY open. The market seems to move quickly and cleanly.
the real issue for me is very erratic spreads (my spread was 33 points at one moment), slow moves and jerky price movement. probably 3x harder than normal.
hopefully i'll get up in the morning and find this has run for another 50 pips and then tomorrow i can sing the praises for before bed time trading
- #535
- Nov 13, 2012 4:58pm Nov 13, 2012 4:58pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
i've just locked 6 on the aussie but it was a pain in the balls. frankly it's not worth it imo at this time - i was only taking a tiny pos size on this cos i was bored.
the real issue for me is very erratic spreads (my spread was 33 points at one moment), slow moves and jerky price movement. probably 3x harder than normal.
hopefully i'll get up in the morning and find this has run for another 50 pips and then tomorrow i can sing the praises for before bed time trading
DAX trades pretty well from 8am till 5pm GMT then it's to slow to bother, EU seem to be good from 8am till 3pm these days, some good days after 3pm but a lot of flat days.
I remember when the market used to be tradeable 24hours a day pretty much!
Most Mondays and Fridays struggle to at times.
Don't even mention August!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #536
- Nov 13, 2012 6:08pm Nov 13, 2012 6:08pm
You know the answer to this T... Increased position size.
Sam Seiden in his XLT program trades very similar small time frame levels.
He trades the CME futures. 8 standard contracts at $12.50 per pip. A straight 10 or 11 pip move and he's bagged over $1000.
These trades are done and dusted in minutes.
Did you join his XLT program or mostly just watched the free webinars/articles? The program is also very pricey, around $7k I believe
You know the answer to this T... Increased position size.
Sam Seiden in his XLT program trades very similar small time frame levels.
He trades the CME futures. 8 standard contracts at $12.50 per pip. A straight 10 or 11 pip move and he's bagged over $1000.
These trades are done and dusted in minutes.
Wondering who is GRD? I get no results while searching inside FF. Could you please give a pointer?
Thanks
Good morning!
Would you have taken the trade marked on the M5 chart below? I was not sure when I saw it.
+ bullish current action
+ good rejections on M5 and M1
- level not very handsome
- level could also be seen as pullback to previous area
C-12, if you had seen this live, trade or no trade?
Would you have taken the trade marked on the M5 chart below? I was not sure when I saw it.
+ bullish current action
+ good rejections on M5 and M1
- level not very handsome
- level could also be seen as pullback to previous area
C-12, if you had seen this live, trade or no trade?