Morning AJ, I took the (continuation) signal after the German GDP news at 7, thinking it may break the tight overnight range which it didn't. reached around +5 so exited at BE. I then waited to see if London open might shift things along as bit, used the 8.02 signal and again out at BE (went to +4). So now out until this tight range is broken, looks like it's trying now. Had small profit from early trade before 7. Watch how this range plays out.
strada.
++ Took a look at GU to see if that might be better, it's worse, a real shirt loser!!
[quote=strada;6197324]Morning AJ, I took the (continuation) signal after the German GDP news at 7, thinking it may break the tight overnight range which it didn't. reached around +5 so exited at BE. I then waited to see if London open might shift things along as bit, used the 8.02 signal and again out at BE (went to +4). So now out until this tight range is broken, looks like it's trying now. Had small profit from early trade before 7. Watch how this range plays out.
strada.
++ Took a look at GU to see if that might be better, it's worse, a real shirt loser!!
Morning Strada
Can I ask do you look at the swing Hi/Lo of the previous move, and how that would influence your trading if a signal was given near that.
[quote=Aj1;6197435
Morning Strada
Can I ask do you look at the swing Hi/Lo of the previous move, and how that would influence your trading if a signal was given near that.[/QUOTE]
If it's really close to a potential entry, I might consider waiting for it to be broken by a pip and I do use them sometimes for exits if I'm looking for an exit. Normally though I don't pay too much attention to them apart from their part in determining range like today. Now waiting for 9.30 news to see if that moves anything, otherwise I'll close up for the day.
strada.
Thursday Nov 15 Morning Gents, Another losing day for me yesterday, just looking over your Charts Strada, once again a masterful performance in what I saw as a very tough day on Bago, Very interesting analyzing my trades against yours. Such ever so slight entry and exit times to give vastly different results. One example is T1 I did not get in until 6.45 due waiting for price confirmation on the signal. I get out on the cross at 6.57 due looming news and the fact that price immediately worsened from the close of the 6.56 bar. I could not risk staying in any longer on that. You wait one minute and walk away with +9; I walk away with -7.5. Looking over some of my trades from yesterday I see I made a couple of absolute stupid stupid mistakes. I was tired and grumpy yesterday with a few pressing day to day life issues, I did not feel right, I did not have the winning attitude, looking back I should have completely passed for the day. So today I sit out, actually by the time you people from the UK wake up and read this I will be on the golf course watching Rory Mcllroy play in the Hong Kong open. I look forward to seeing Friday’s results for analysis over the weekend. AJ1, on your 10.38 move I see you took 7 on TP1 did you close TP2&3 at BE? I don’t trade this late, too late in the evening for me. Good Luck to all today. And please post the results. Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning, another sketchy day today. Missed the 6.30 trade, too early and nearly took the GU trade just before 7am, spent some time wishing I had given EU performance.
Anyway eventually a signal from EU and a bit of action from there but not best and definitely a bit testing. T2 recrossed and went a full pip on so all set to exit at that point (7.53 bar wasn't strictly a recross as EMA5 & 12 were equal but I was using that for exit purposes).
Stopped after trade 3, news ahead and my old brain has had enough for today, not a loss, but not much of a profit either so I'll look forward to next week.
regards, strada.
[quote=strada;6201873]Morning, another sketchy day today. quote]
Good Morning,
Thanks for the chart; I see I did not miss much. Strada is there a reason you use bars as opposed to candles on your charts? I personally go with candles, is your reason just personal choice or is it strategic? Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Thanks for the chart; I see I did not miss much. Strada is there a reason you use bars as opposed to candles on your charts? I personally go with candles, is your reason just personal choice or is it strategic? Cheers Anthm...
Ignored
Morning Anthm, bit of an old chestnut this one, bars or candles.
Guess it's just what we're used to in some respects. I used bars back in the early 90's when I first started trading (options. futures) and have stuck with them since, find it easier to read a chart with them, no doubt you'll find it easier with candles. For some types of trading candles are definitely better or essential but for bago don't think it makes much difference.
Trust you had a good day at the golf tournament yesterday, bet you're glad you were there and not at your PC!!
Not a great week, fortunately the family understands, bread and water for dinner this week-end, it won't be the first time!!!!
rgds, strada.
T1 L Entry 6.34 (reasonably safe entry I thought) close for BE @ 6.51 due getting close to +4 and also it rebound off 1.2770 resistance closed BE
T2 S Entry 7.02 (yes I absolutly agree it was too early i need more confirmation) Loss 9.4x3 Total -28.2
T3 L Entry 7.08 -8.1x3 Total minus 24.3
I down over 50 in less than an hour , i have no choice but to stay out.
Cheers
Look forward to the results Strada, please post.
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning Anthm, good decision I think, I did the first 2 after 7am and decided to step back until we're out of this present range. Have early dental appt. so will will look in again later.
strada.
Edit: On return decided to look for relatively safe setups with small SL's and would consider scalping to try and cover earlier losses. Does require some patience.
T 3 was actually signalled just before 12.00 when US activity starts, so watched it to see if it was going to break the range previously created with some help from US. Trade showed some initial improvement then reversed a bit and formed a near double top. That gave me a cheap SL so used the close of the 12.07 bar to determine entry which was only slightly less than the entry would have been with the original signal. Price did bounce off the previous lo's and I would have exited around BE which did get touched a couple of times but didn't exceed it by more than a fraction of a pip so stuck with it. Did eventually get TP1 and then on some weakness took TP2&3 which covered previous losses.
Morning Strada, sorry havent much time to post my detailed results but am really looking forward to your charts today for comparrison.
I took it (7.05) +32 and gave it all back (7.35) until finally I took it (8.15) +39.8 and closed.
Will be back here later
Cheers
Anthm
Ignored
Morning Anthm, I did the 7.04 too and then the 7.33 as a continuation trade with only 1 TP as it was up against the round number. It did go through momentarily then came back below and I closed it for -4. I then used the 7.40 signal with just 2 TP's, again due to the proximity of the round number. I did the 8.14, got a dreadful fill, but still did well and closed TP3 prematurely to finish the day. Better day today than recent days.
regards, strada.
Good Morning Strada Would it be possible for you to take a look at a couple of things that have given me grief not only this week? I would firstly like to say that I understand that I need to trade what I see and not what I think, I am getting that, I also understand that if this thing is to become consistently profitable I need to trade it inside the rules set. With regard to exit on a recross (inside the rules set) is costing me a lot. E.g. T1 Monday 7.06 Long signal, I entered at 7.08 @ 73.3 Recross is confirmed after close of 7.16 bar I wait for 1 pip worse on signal bar to exit at 7.19 @65.2 -8.1x3 Total -24.3 (seems I in the rules set but I took huge hit) You exit at 7.15 and take a far lesser hit. This type of thing happens regularly I enter a trade I wait until recross for exit but by the time that happens I am down almost to my SL level of -10(ie-30) E.g. I don’t even have your chart in front of me or your exact trade details but I already know you would have managed better than -10 on this one. T2 Tuesday, Signal @ 7.33, Entry 7.35@ price 02 recross confirmed on close of 7.38 bar I wait for confirmation I take a full stop price 92@ 7.44, I down -10 you manage a loss of only?????? It seems waiting for a recross plus confirmation is costing me. Do you have any suggestions? Regards Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Good Morning again Strada I have a few questions sitting here that I need to ask you, I am trying to get my rule set for continuation trades a little more defined. Could you please shed some light? E.g. If you have taken say full profit Tp1, 2 and Tp3 on the recross. Then there is a cross in line with original signal will you take TP1 and 3 again? Or will you take just 1 TP. Would the answer to this question change if there was a slight cross and then recross of the RSI in line with original signal. Further to this how much of a cross and then recross of RSI would be needed for you to consider it a whole new trade? I see sometimes it may cross and re cross a couple of times. Yesterday at 7.27 and again at 7.31 was a classic example of this. Now yesterday I see you took only one TP due whole number but let’s say there was no whole number for the case yesterday, would you have taken it as full trade? The situation where you take Full TP1 and 2&3 @ BE, if continuation developed would you take 2 lots as continuation or one? Or the situation where price runs to say 4 pips and reverses and you close all TPs at BE would you take continuation 2 lots? Or would you ever consider the full 3 lots. If it’s two TP, s I understand your treat one as TP1 (i.e. 7-10 pips) and the second as TP3 (i.e. let it run etc) is this correct? What if it’s only one TP what exit strategy would you use here? Also the question of SL on continuation trades do you use a full 10 or 12 pips as per full trade? Strada I know my English is terrible I promise its one of the legacies of being Australian. I hope you can kind of understand me. Kind Regards Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning, charts for today below, will be able to see some comparisons with yours Anthm. Have just read your previous posts and will respond in a little while. After the loss on T5 decided to step back, PA very choppy.
