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Cutting the cord with M1 scalps

  • #81
  • Mar 13, 2014 9:07am Mar 13, 2014 9:07am
Quoting capstone
I did not take this trade. I am still adjusting my charts a bit. Really stripping it back. Anyways, here is a Mongo trade based on BPC from a quarter to a mid. This trade alone would meet my daily goals! Mongo, Have you told you thank you yet? {image}
That's one good looking setup there!
  • #82
  • Mar 14, 2014 11:33am Mar 14, 2014 11:33am
It is not an exact Mongo trade because the previous break did not go all the way to 91.50. The spinning top and the the graveyard doji at the mid quarter line gave me the confidence. I reduced my normal risk as well. Not bad for a lunchtime trade! I will take it. I should have ridden this all the way to the TP of 91.50, but did not. That will come with confidence. Mongo, have I thanked you yet?
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #83
  • Mar 18, 2014 6:11am Mar 18, 2014 6:11am
Took a loss here. Still playing with the babon in relation to the PA. My H1 chart showed us at the bottom of the H1 TMA where a bounce is very frequent. This time, it did not bounce. I entered with a 34 babon. The pic shows a 50 babon which is what I had been using. I will stick that 50 and take off the slower 50, as seen in this chart.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #84
  • Edited 7:18am Mar 18, 2014 6:55am | Edited 7:18am
The follow up chart. I left to take my oldest two kids to school after the previous post and trade. I checked to see what happened when I made it back to the house. Here it is. The H1 TMA gave good indication, I just entered early. The 50 Babon would have helped. Using the TVI over 0 would have helped as well. That is alright. As Mongo says, the winner at this game knows how to take a loss, the loser does not. I move on.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #85
  • Mar 18, 2014 12:32pm Mar 18, 2014 12:32pm
Quoting capstone
The follow up chart. I left to take my oldest two kids to school after the previous post and trade. I checked to see what happened when I made it back to the house. Here it is. The H1 TMA gave good indication, I just entered early. The 50 Babon would have helped. Using the TVI over 0 would have helped as well. That is alright. As Mongo says, the winner at this game knows how to take a loss, the loser does not. I move on. {image}
EURJPY is one of my favorite pairs. I like how price behaves and It moves A LOT. Sometimes though - it can bite you. No worries, there will be tons of setups to follow!
  • #86
  • Edited 12:30pm Mar 19, 2014 12:06pm | Edited 12:30pm
3 trades today. EURAUD was a good one to take early on, but I did not. I sat around for a while until finally taking these three on AUDJPY. A net gain, but not by much. I did add the pivots back to the chart but got rid of the TVI. I need to learn to decipher movement based on sticks and action and the TVI was to much of a crutch that was freezing me. I also added the M15 TMA back to the chart. I also went form two lines at the mid quarters to just one. Finally, I changed the Babon to a solid color because I was becoming to dependent on the color of the Babon and not the action of the price. I think the sells were not horrible trades in hindsight. I guess I could have waited for price to break the mid quarter, then retest it. In terms of the buy, My entry could have been improved. It was an emotional entry to be honest. The correct entry would have been where price, daily pivot, and Babon collided. Exit was based on a successful retest of of 92.500 and a what appeared to be a fail at the daily open (5PM EST). I wanted to target the mid quarter at 92.625, but decided on profit instead. So far, it looks like I left about 5 more points on the table ($40). I am alright with that. Done for the day. I will pick my kids up from school, take them to the park, then have dinner with my family. Sounds good. I had today off at the dealership, which was nice. I am having a terrible month there so my motivation to get this is really high!!
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #87
  • Mar 20, 2014 8:53am Mar 20, 2014 8:53am
2 trades I did not take on the EURJPY. Both were fairly obvious, but I did not take them. Posted here to remind myself. With consistent charts, I will get used to seeing these patterns. It will allow me to better observe and learn the PA that Mongolian pointed me towards.

I did add a 100 EMA. Very nice line. I may remove the Babon. Not sure yet. May keep both.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #88
  • Mar 21, 2014 7:52am Mar 21, 2014 7:52am
Only trade this morning shown here. I am not adding the vertical lines anymore because they hide the trade entry and exit in relation to the candle and if I m moving to trading PA, the candle is important.

Anyway, I took this as a change in direction had been set it seemed. Entry was at the break of 141.00. I was about .75% into profit, then it turned back on me. The real entry was up at the Daily Pivot. I was not at the chart then. While at the chart, the real entry should have been the cross of Babon and 100 EMA. I did not take it there because of the BRN. In hindsight, I think that is the correct decision.

Two charts here. The first with the pivots, the second without. The second is certainly cleaner and PA is much easier to see. The first shows some important points though, like the Daily pivot and open. I do not want to suffer analysis paralysis based on there always being a line in the way.
Attached Image(s) (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #89
  • Mar 21, 2014 8:03am Mar 21, 2014 8:03am
Hi Capstone

I have my own style of trading but if i find some interest in new ideas then i test them. I am joining you and will do forward testing by using your system, I hope you won't mind but if there is any issue let me know.

Happy Weekend.

aahmad29
Love for all; Hatred for none.
  • #90
  • Mar 21, 2014 5:15pm Mar 21, 2014 5:15pm
Quoting aahmad29
Hi Capstone I have my own style of trading but if i find some interest in new ideas then i test them. I am joining you and will do forward testing by using your system, I hope you won't mind but if there is any issue let me know. Happy Weekend. aahmad29
Be my guest!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #91
  • Mar 24, 2014 3:22am Mar 24, 2014 3:22am
Demo Testing:


I have added short position at 1.38203 after price jumped over the Upper band.

TP will vary. I have chosen Middle line of band as TP. At this point i can close trade at +4 Pips.
Love for all; Hatred for none.
  • #92
  • Mar 24, 2014 3:51am Mar 24, 2014 3:51am
Quoting aahmad29
Demo Testing: I have added short position at 1.38203 after price jumped over the Upper band. TP will vary. I have chosen Middle line of band as TP. At this point i can close trade at +4 Pips.
Demo Testing:

TP Hit. +17 Pips. I will wait for break of Upper or lower band.
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Love for all; Hatred for none.
  • #93
  • Mar 24, 2014 6:28am Mar 24, 2014 6:28am
Quoting aahmad29
{quote} Demo Testing: TP Hit. +17 Pips. I will wait for break of Upper or lower band. {image}
That was not how I was using the chart, but it is interesting to see how we all see the same things differently! Keep posting!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #94
  • Mar 24, 2014 7:50am Mar 24, 2014 7:50am
This was a buy on EURUSD. There were better opportunities, like a sell at the quarter after the retrace. That was a Mongo trade. So this was 0.5%. I have reset some very aggressive goals. Time to quit watching and start trading!
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #95
  • Mar 24, 2014 11:33am Mar 24, 2014 11:33am
Quoting capstone
{quote} That was not how I was using the chart, but it is interesting to see how we all see the same things differently! Keep posting!
Hi capstone

Actually TMA is not displaying on my chart for unknown reason because same system is running in proper way on my real account. I am choosing that once TAM band hits then i am looking for cross.
Love for all; Hatred for none.
  • #96
  • Mar 25, 2014 6:24am Mar 25, 2014 6:24am
Quoting aahmad29
{quote} Hi capstone Actually TMA is not displaying on my chart for unknown reason because same system is running in proper way on my real account. I am choosing that once TAM band hits then i am looking for cross.
That is odd. Check the visualization screen and make sure that M1 is checked or M5 if that is the chart you are using.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #97
  • Mar 25, 2014 7:51am Mar 25, 2014 7:51am
The ids are on spring break over the next two weeks which means I do not have to wake up at 5:15. I slept in the last two mornings. tomorrow I will rise and shine though! I was at the dealership until 9:45 last night (started there at 9:00 yesterday morning), so I do not feel bad about sleeping in this morning.

So here is this morning trade on EURUSD. I entered based on pattern and a support line from earlier which is also at the mid line of the H4 TMA. I exited at the mid quarter and what appeared to be stalling.

Also, the blue line is the 100 EMA and the orange is the 34 SMA. the 34 is very similar to the Babon I was using, but not so thick and in your face.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #98
  • Mar 25, 2014 9:41am Mar 25, 2014 9:41am
Demo Testing:

I am trying different setups on your system. In this trade for long i checked two things. Price crossed the lower band and penetrating again by moving to up and there is cross in BH-Ergodic

Long Entry at 1.37925 and TP is 1.3817. I know that psychological resistance is on the way but let see how it goes.
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Love for all; Hatred for none.
  • #99
  • Mar 25, 2014 11:58am Mar 25, 2014 11:58am
Quoting aahmad29
Demo Testing: I am trying different setups on your system. In this trade for long i checked two things. Price crossed the lower band and penetrating again by moving to up and there is cross in BH-Ergodic Long Entry at 1.37925 and TP is 1.3817. I know that psychological resistance is on the way but let see how it goes. {image}
Added another long position at 1.3779

Both position closed at 1.3800

so far doing good. I will try to take another trade by following same strategy as i did before.
Love for all; Hatred for none.
  • #100
  • Mar 25, 2014 1:18pm Mar 25, 2014 1:18pm
Quoting aahmad29
{quote} Added another long position at 1.3779 Both position closed at 1.3800 so far doing good. I will try to take another trade by following same strategy as i did before.
Are you taking counter trades on M5 charts when BH crosses and the TMA band has been pierced? That is one of Favorite's trades from the daytrading thread. I did take the TMAs from that thread. It is a very good method.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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