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Buy sell line trading

  • #2,501
  • Jan 24, 2013 1:08pm Jan 24, 2013 1:08pm
Quoting AlexC
Here's an indicator with the 50sma and 50lwma.
Thanks Al !
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  • #2,502
  • Jan 24, 2013 6:21pm Jan 24, 2013 6:21pm
nice late night scalping EU M5
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-01-25 at 02.18.59.jpg Size: 76 KB
tradewith60
  • #2,503
  • Jan 25, 2013 7:48am Jan 25, 2013 7:48am
GOLD M5 pull back to ma's and close below
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2013-01-25 at 13.38.41.jpg Size: 86 KB
tradewith60
  • #2,504
  • Jan 25, 2013 8:12am Jan 25, 2013 8:12am
Quoting 60minuteman
GOLD M5 pull back to ma's and close below
Awesome trade, mate!

For your 5M enries, do you enter at the close of the candle or wait for the break of the candle's hi/low?
  • #2,505
  • Jan 25, 2013 8:31am Jan 25, 2013 8:31am
Quoting 60minuteman
scalping EU M5
You should be scalping M1...it is so you.
  • #2,506
  • Edited 8:49am Jan 25, 2013 8:37am | Edited 8:49am
Quoting Olarion1975
Awesome trade, mate!

For your 5M enries, do you enter at the close of the candle or wait for the break of the candle's hi/low?
OK... heres what you need to do for M5

Short trades

1. Daily chart

previous day must close short and be below ma's

2. H1

price must be trading below ma's

3. M5

wait for price to close below both ma's, sell at the break of this signal bars low. Stops go at the recent swing hi

SEE CHARTS BELOW... note the entry may look weird, this is because 5 pips spread on gold looks like a very late entry...

Also note the daily sr lines i have marked (pink lines).. ideally im looking for h1 to retrace close to them and the ma's before i get my signal on m5, often what will happen anyway..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLD DAILY.png Size: 46 KB
Click to Enlarge Name: gold h1.png Size: 27 KB
Click to Enlarge Name: GOLDM5.jpg Size: 88 KB
tradewith60
  • #2,507
  • Jan 25, 2013 8:45am Jan 25, 2013 8:45am
Quoting 60minuteman

2. H1

price must be trading below m5
Great, thanks for that explanation. Will try it.
For the above statement regarding H1, do you meant below the ma's?
  • #2,508
  • Jan 25, 2013 8:49am Jan 25, 2013 8:49am
Quoting California
You should be scalping M1...it is so you.

haha mr california...welcome back sir... theres a nifty indi knocking about on the thread that marks the type 2 candle, you should have a look
tradewith60
  • #2,509
  • Jan 25, 2013 8:49am Jan 25, 2013 8:49am
Quoting Olarion1975
Great, thanks for that explanation. Will try it.
For the above statement regarding H1, do you meant below the ma's?
yes my typo, below ma's
tradewith60
  • #2,510
  • Jan 25, 2013 9:00am Jan 25, 2013 9:00am
Here's another example on Brent today...
Attached Image(s) (click to enlarge)
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tradewith60
  • #2,511
  • Jan 25, 2013 9:02am Jan 25, 2013 9:02am
So just another example of ways to measure retraces, define risk and have some discipline...

you could go the whole hog and scalp the m5 both ways, but i prefer to trade with the trend...
tradewith60
  • #2,512
  • Edited 6:10pm Jan 25, 2013 9:53am | Edited 6:10pm
M1 scalping EJ (see chart).

I would normally only scalp EU, but EJ makes more sense nowadays due to the tremendous trends in all yen pairs. The wider spread is well worth it. While I always want to know what the 50sma is doing, I key off of the 20ema (longs above, shorts below). It is a perfect balance between too sensitive and not sensitive enough. My favorite retracements are back to the 20ema. Shallower retracements are fine as long as they touch the 9ema at minimum. Anywhere in the 9/20 gap. Type 2, IB's, commando entries preferred.

The best leading indicator, imo, is momentum. For longs, as long as the previous high is confirmed by a new momentum high in the indicator, I will look to enter on the retracement. When a new high is not confirmed by a new momentum high, I will usually pass. I am only interested in playing probabilities, and the nice thing about M1 is that you can be much more particular about the setups you trade because there are so many of them. Having once traded for fifteen years straight without using any oscillators, bands, etc. -- nothing besides a 50sma -- I will be the first person to say that all indicators lag. However, something that measures pure momentum offers me valuable information I cannot get from price bars alone.

Besides checking to see if a retracement's previous high was confirmed by a new momentum high (for longs), I will also check to see if the retracement wave is shorter than the previous impulse wave. If it is longer than the previous impulse wave, there is a chance the trend has already reversed from up to down. These two items, plus being aware of how many pullbacks have already occurred in a trend, are the three things I look at to determine the quality of entry, besides pa.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ M1 012513.gif Size: 38 KB
  • #2,513
  • Jan 25, 2013 10:18am Jan 25, 2013 10:18am
With the help of California, I slghtly changed the LHDT_PRIMO indicator to sport Type-2 entries.
That indicator now perfectly fit the strategy is the same as the TradeStation one.

I also included previous day High & Low so you can use this as reference, s/r, or whatever. I can be disable too.
The indi have now dots and/or bar coloring.

Cheers,
LhDT

PS : Green lines are my longs (+105 & +175 )
Attached Image (click to enlarge)
Click to Enlarge Name: primo4.jpg Size: 85 KB
Attached File(s)
File Type: ex4 LHDT_PRIMO.ex4   11 KB | 937 downloads
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  • #2,514
  • Jan 25, 2013 10:22am Jan 25, 2013 10:22am
Thank you for your generosity LhDT!

Have a great weekend :0)

Quoting lhDT
With the help of California, I slghtly changed the LHDT_PRIMO indicator to sport Type-2 entries (Primo Strat#4).
That indicator now perfectly fit the strategy is the same as the TradeStation one.

I also included previous day High & Low so you can use this as reference, s/r, or whatever. I can be disable too.
The indi have now dots and/or bar coloring.

Cheers,
LhDT

PS : Green lines are my longs (+105 & +175 )
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,515
  • Jan 25, 2013 10:48am Jan 25, 2013 10:48am
cool stuff guys...
tradewith60
  • #2,516
  • Jan 25, 2013 3:48pm Jan 25, 2013 3:48pm
Quoting 60minuteman
OK... heres what you need to do for M5

SEE CHARTS BELOW... note the entry may look weird, this is because 5 pips spread on gold looks like a very late entry...
With that high of spread on gold, why not have an account to trade gold futures, with most brokers you can get in and out for $5 per contract.
  • #2,517
  • Jan 25, 2013 3:58pm Jan 25, 2013 3:58pm
Quoting California
M1 scalping EJ (see chart).

I would normally only scalp EU, but EJ makes more sense nowadays due to the tremendous trends in all yen pairs. The wider spread is well worth it. While I always want to know what the 50sma is doing, I key off of the 20ema (longs above, shorts below). It is a perfect balance between too sensitive and not sensitive enough. My favorite retracements are back to the 20ema. Shallower retracements are fine as long as they touch the 9ema at minimum. Anywhere in the 9/20 gap. Type 2, IB's, commando entries preferred.

The...
Is there any timeframe you don't trade? So far i've seen daily, 15 min, and now 1 min scalping. Thanks for all your posts and sharing from your experiences, and nice to see you posting again.
  • #2,518
  • Jan 25, 2013 4:05pm Jan 25, 2013 4:05pm
Quoting California
M1 scalping EJ (see chart).
1.7 spread, a bit high for scalping M1. Better try ECN (0.1 to 0.4 spread) with a commission (5 to 7$ per lot). It's about 50% cheaper.
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  • #2,519
  • Jan 25, 2013 4:13pm Jan 25, 2013 4:13pm
Quoting lhDT
1.7 spread, a bit high for scalping M1. Better try ECN (0.1 to 0.4 spread) with a commission (5 to 7$ per lot). It's about 50% cheaper.
Thanks to regulators we dont have that many options as far as good forex brokers here in the U.S.
  • #2,520
  • Jan 25, 2013 4:24pm Jan 25, 2013 4:24pm
Quoting grooler
Thanks to regulators we dont have that many options as far as good forex brokers here in the U.S.
True. I'm from Belgium and can get some ECN broker in Australia. Unfortunately they can't accept US citizens. Or maybe FxPro ECN, don't know.
Extreme low spread doesn't mean good broker anyway.
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