My Iced Latte, Sandwich, Beer, and Midnight Randevous Trading Method | Page 8 | Forex Factory

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My Iced Latte, Sandwich, Beer, and Midnight Randevous Trading Method

  • #141
  • Dec 23, 2012 6:06pm Dec 23, 2012 6:06pm
Indeed, that is a good call. I love that there is plenty of time to prepare.

Quoting FerruFx
Here's a pair we should watch for the next few days. But be very cautious with the "holidays" market.

Attachment
"Keep your eyes on the helpers" - Mr. Rogers
  • #142
  • Dec 23, 2012 6:15pm Dec 23, 2012 6:15pm
Quoting damonl
I love that there is plenty of time to prepare.
This is the goal about trading Daily charts.
MT4/MT5 EAs/Indicators/Alerts coder
  • #143
  • Dec 23, 2012 6:18pm Dec 23, 2012 6:18pm

gbpchf



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Here is a trend line that does not concern me at this time as we are no where near the lower trendline, and actually above the yellow line. I think I will just skip this pair for a few days and see if something better becomes of it.

"Keep your eyes on the helpers" - Mr. Rogers
  • #144
  • Dec 23, 2012 6:21pm Dec 23, 2012 6:21pm
Quoting damonl
Here is a trend line that does not concern me at this time as we are no where near the lower trendline
In my opinion, we should start looking to draw the manual trendline only when price reach a reasonable level between the center line and the target lines.
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  • #145
  • Dec 23, 2012 6:28pm Dec 23, 2012 6:28pm
Exactly.. I was just posting one that would not have fit the criteria, just as a reference, but it was really only a one time deal since we are just getting this figured out. But yes, it won't be a habit, it was more a reference..

Quoting FerruFx
In my opinion, we should start looking to draw the manual trendline only when price reach a reasonable level between the center line and the target lines.
"Keep your eyes on the helpers" - Mr. Rogers
  • #146
  • Dec 23, 2012 9:08pm Dec 23, 2012 9:08pm

audjpy

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Here is another entry I thought I would posts. We have divergence on the stochastic, price got pretty close to my upper channel line. I say the opportunity to place a trend line. When price opened beneath it, it should have been my immediate entry, but I was a few pips late as I must not have been around.

"Keep your eyes on the helpers" - Mr. Rogers
  • #147
  • Dec 23, 2012 9:18pm Dec 23, 2012 9:18pm

cadchf

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Here is another example were I jumped the gun a little bit, which will be alright if it works out. I should have waited for price to cross my counter trend line, but I didn't. Again we have stochastic divergence and price is just past the threshold where I say that it is close enough to my lower channel. I don't know though.. there are a lot of wicks with lower closes.. I might end up paying for this early entry.

"Keep your eyes on the helpers" - Mr. Rogers
  • #148
  • Dec 23, 2012 10:25pm Dec 23, 2012 10:25pm
There are a few other trades that I have open as well, but I have fallen asleep at the wheel here so I am going to go to bed. We will see where my positions are in the AM
"Keep your eyes on the helpers" - Mr. Rogers
  • #149
  • Dec 24, 2012 12:24am Dec 24, 2012 12:24am
I know what you mean by the mistakes. At least you are aware of them. My Probability Meter is saying that EUR/CAD is in a strong uptrend right now. Now that does not mean that it will fly through the roof but there still may be some room for a push further north.

Of course this week could bring everything or nothing at all so only time will tell. I'm curious to see how this one turns out for you though.

Quoting damonl

eurcad



Attachment




[left][font=Century Gothic]I don't have divergence on The Root, but I do have a trendline, and it seems that I have jumped the gun with my trade. (If only I didn't beat myself with so many mistakes.) But, hopefully it will still work out. You may notice the price did not quite get up there to touch the upper trend line. This happens a lot and a decision as to be made. I usually like to see price action get us...
  • #150
  • Dec 24, 2012 2:47am Dec 24, 2012 2:47am
Yep, it definitely is in a strong uptrend no doubt, and It hit my stop, but it was really tight anyway. I don't think that there will be anymore trendline mistakes however on where to draw the trend line. Sometimes I just don't even stick to my own rules and that is the biggest hinderance to anything I do.. lol Well, no more of that!

Quoting Donatello
I know what you mean by the mistakes. At least you are aware of them. My Probability Meter is saying that EUR/CAD is in a strong uptrend right now. Now that does not mean that it will fly through the roof but there still may be some room for a push further north.

Of course this week could bring everything or nothing at all so only time will tell. I'm curious to see how this one turns out for you though.
"Keep your eyes on the helpers" - Mr. Rogers
  • #151
  • Dec 24, 2012 6:52am Dec 24, 2012 6:52am

cadchf


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Okay, here is my actual cadchf entry point using my cross hairs method for determining an entry point. Let's see what happens now that I have my trend line correctly located. It is kind of strange as price has actually moved away from the lower channel line, but I have decided to base the distance away using the whole swing and since we are still a part of the swing that got us that close, it is time to take the trade. Perhaps this is not a good idea, but that is what testing the method will help us figure out.

"Keep your eyes on the helpers" - Mr. Rogers
  • #152
  • Dec 24, 2012 7:05am Dec 24, 2012 7:05am
Quoting damonl
entry point using my cross hairs method for determining an entry point
May I ask you how you did with the crosshairs ? I can see the BuyStop on your chart but can't see which rule for its placement.

Thanks
MT4/MT5 EAs/Indicators/Alerts coder
  • #153
  • Dec 24, 2012 7:14am Dec 24, 2012 7:14am

cadjpy

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Here I am short, but price has moved horizontally to reach my lower green channel line. As such, I have re-adjusted my SL for the short trade and then entered a BS to open just as the short closes using my crosshairs entery method. I guess this may just be wanting to head farther nortr despite divergence every where.


"Keep your eyes on the helpers" - Mr. Rogers
  • #154
  • Dec 24, 2012 7:17am Dec 24, 2012 7:17am
I put the crosshairs vertically over the center of the candlestick, and then moved it up until the left side of the crosshairs came in contact with my vertical line. Then I placed the BS order on the horizontal position or the crosshairs. Make sense? I may have added a few pips as well to account for spread, I don't quite remember, but usually I do.

Quoting FerruFx
May I ask you how you did with the crosshairs ? I can see the BuyStop on your chart but can't see which rule for its placement.

Thanks
"Keep your eyes on the helpers" - Mr. Rogers
  • #155
  • Dec 24, 2012 7:23am Dec 24, 2012 7:23am

eurcad

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"Keep your eyes on the helpers" - Mr. Rogers
  • #156
  • Dec 24, 2012 7:28am Dec 24, 2012 7:28am
Quoting damonl
I put the crosshairs vertically over the center of the candlestick, and then moved it up until the left side of the crosshairs came in contact with my vertical line.
Which candelstick ? Which vertical line ?

It would be great to see the crosshairs in action on your screenshot !!! Because that makes absolutely no sense for me.
MT4/MT5 EAs/Indicators/Alerts coder
  • #157
  • Dec 24, 2012 7:46am Dec 24, 2012 7:46am

Attached Image (click to enlarge)
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Vertical plane line of the crosshairs is lined up in the center of the newest candlestick, then the left arm of the candlestick I touch to the trendline. Since then the horizontal plane of the candlestick is above the trend line, I go ahead and place my entry order there. I will continue to follow the trend line down with this method for each new candlestick that forms or until it is time to draw a new trend line.

Is this better?




Quoting FerruFx
Which candelstick ? Which vertical line ?

It would be great to see the crosshairs in action on your screenshot !!! Because that makes absolutely no sense for me.
"Keep your eyes on the helpers" - Mr. Rogers
  • #158
  • Dec 24, 2012 8:05am Dec 24, 2012 8:05am
Quoting damonl
Vertical plane line of the crosshairs is lined up in the center of the newest candlestick, then the left arm of the candlestick I touch to the trendline. Since then the horizontal plane of the candlestick is above the trend line, I go ahead and place my entry order there.
The only thing i understand in your explanation is that the crosshair is placed on the current candle.

What I see now on your chart is that it seems that you place the order on the High on the last candle if this price (horizontaly above the current candle) is above the manual trendline. In this chart, the 3rd candle high.
MT4/MT5 EAs/Indicators/Alerts coder
  • #159
  • Dec 24, 2012 8:10am Dec 24, 2012 8:10am
It looks like that but the candles high has nothing to do with it. Once my crosshair is in place my order simply gets place at the price in which the horizontal place of the candlestick is at as long as it is above my trendline. In this case it just happens to be at the high of that other bar.

Quoting FerruFx
The only thing i understand in your explanation is that the crosshair is placed on the current candle.

What I see now on your chart is that it seems that you place the order on the High on the last candle if this price (horizontaly above the current candle) is above the manual trendline. In this chart, the 3rd candle high.
"Keep your eyes on the helpers" - Mr. Rogers
  • #160
  • Dec 24, 2012 8:15am Dec 24, 2012 8:15am
Quoting damonl
Once my crosshair is in place
My understanding problem is this.
MT4/MT5 EAs/Indicators/Alerts coder
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