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Cutting the cord with M1 scalps

  • #101
  • Mar 25, 2014 1:45pm Mar 25, 2014 1:45pm
Quoting capstone
{quote} 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.
Yes.

i am testing in that way so lets see what happen. At this time there are two trades and both are closed at +ve.

As you can see that it is M15 time frame and green line is the point where i took first long position and then later i added another position but you can see that Price hit the upper band successfully. If i don't close the trades at red circle then i could get more profits.

Now upper band has been hit but there is no cross down in BH and i am waiting for that cross down and i will take the short position fi i am at screen at that time.
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Love for all; Hatred for none.
  • #102
  • Mar 25, 2014 4:42pm Mar 25, 2014 4:42pm
Demo - Testing

There is another short opportunity at Red line. I have set TP = 1.3800
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Love for all; Hatred for none.
  • #103
  • Edited 10:53pm Mar 25, 2014 9:04pm | Edited 10:53pm
Quoting aahmad29
Demo - Testing There is another short opportunity at Red line 1.3821 . I have set TP = 1.3800 {image}
So far 15 Pips +ve , short position is still active.
Love for all; Hatred for none.
  • #104
  • Mar 26, 2014 2:47am Mar 26, 2014 2:47am
Quoting aahmad29
{quote} So far 15 Pips +ve , short position is still active.
As you can see that TP has been achieved and price is moving towards lower band. +17 Pips Profit on this trade but if i select lower band as TP then i could have more profit.
Love for all; Hatred for none.
  • #105
  • Mar 26, 2014 6:05am Mar 26, 2014 6:05am
Horrible morning. 2 shorts because Yen was gaining strength and AUD was losing it, both fail. The third trade, I figure, you won't fool me a third time......yes they did......

This one hurts. I am now very far behind my projections.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #106
  • Mar 26, 2014 6:39am Mar 26, 2014 6:39am
I added some comments onto the last chart you had posted (except you just snuck one in on me - I'll take a look at that one and see if I have anything to add to it!) Take the comments for what they are - one dude's opinion. Keep your head up - there will be lots more setups and trades to be had!

Mongolian
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  • #107
  • Mar 26, 2014 6:55am Mar 26, 2014 6:55am
This is how I see AUD so far today.

Mongolian
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  • #108
  • Mar 26, 2014 7:28am Mar 26, 2014 7:28am
Lesson to take from today. Attention to detail. I just saw that you were trading AUDJPY not AUDUSD. My bad!
  • #109
  • Mar 26, 2014 8:08am Mar 26, 2014 8:08am
Quoting mongolian
Lesson to take from today. Attention to detail. I just saw that you were trading AUDJPY not AUDUSD. My bad!
that is funny.

here is my latest trade. a sell. was up to 3% profit, gave it all back.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #110
  • Mar 26, 2014 9:02am Mar 26, 2014 9:02am
Quoting aahmad29
Demo - Testing There is another short opportunity at Red line. I have set TP = 1.3800 {image}
TP was achieved but after that price moved down more for 15 Pips after taking 17 pips profit but still lower band with blue line is not hit yet. As soon as lower band with blue line hits in M15 i will take long position.
Love for all; Hatred for none.
  • #111
  • Mar 26, 2014 9:14am Mar 26, 2014 9:14am
Mongo, see if I have this correct. In this case, on the AUDJPY chart, I would be waiting for price to come back to 94.500 where I would have a sell order waiting. This is because we have turned down, broke the 94.500, now I am waiting on the retest. Is that correct?
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #112
  • Mar 26, 2014 9:46am Mar 26, 2014 9:46am
I took another purchase on AUDJPY. Slowly coming back. As much as I want to see my trade hit the quarters and mid quarters, I do not have the stomach to hang on. I exited this one based on the inability to break the 170, which is the M5 34SMA.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #113
  • Mar 26, 2014 10:09am Mar 26, 2014 10:09am
Quoting capstone
Mongo, see if I have this correct. In this case, on the AUDJPY chart, I would be waiting for price to come back to 94.500 where I would have a sell order waiting. This is because we have turned down, broke the 94.500, now I am waiting on the retest. Is that correct? {image}
This is how I would approach what I'm seeing.
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  • #114
  • Mar 26, 2014 11:21am Mar 26, 2014 11:21am
Another bad one. Ughhh.....went long on the retrace to the mid quarter. should probably stick with retraces to quarters! I went long instead of short, even though it is a downtrend, based on the big bounce from the mid quarter previously.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #115
  • Mar 26, 2014 11:59am Mar 26, 2014 11:59am
Quoting capstone
Another bad one. Ughhh.....went long on the retrace to the mid quarter. should probably stick with retraces to quarters! I went long instead of short, even though it is a downtrend, based on the big bounce from the mid quarter previously. {image}
I am new to this thread but i think if you respect blue bands in M15 then you will have positive results. If i look at AJ chart in M15, i can see that price already hit upper blue band and then there was cross down in BH and it was sign of bear. Price has hit to MA100 and there are lot of pips if you take short position.
Love for all; Hatred for none.
  • #116
  • Mar 26, 2014 12:00pm Mar 26, 2014 12:00pm
Last one. Promise. I have to work today because I took half of Saturday off, and because I have only sold 2 cars this month. That hurts far worse than my day of trading today. I have to make some brilliant trades in the next two days to get back on track!
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #117
  • Edited 3:14pm Mar 26, 2014 12:07pm | Edited 3:14pm
Demo Testing

GU - short at 1.6575 and TP = On initial basis , ist TP=15 pips for all.
UJ - Long at 102.02
AJ - Long at 94.10
UC - Long at 1.1100
AC - Long at 1.0235
Love for all; Hatred for none.
  • #118
  • Mar 27, 2014 5:47am Mar 27, 2014 5:47am
This was a perfect setup this morning. I did not take it. Instead I was moving my mid quarter lines to 5 points off the quarters. It seems that the meat is in the middle and usually it breaks then retests around this area. This should also make me focus more on the quarter levels, which are important.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #119
  • Mar 27, 2014 6:48am Mar 27, 2014 6:48am
Three trades this morning. My first trade was correct, just early and I did not let it breath. This is a product of the higher risk I am taking with each trade. I accept that as part of the plan. I saw it as a sell opportunity based on what I believe would have been Mongo's view of it. It was top heavy at the 94.50, where it has been back and forth for the last day or so. It broke south and came back. This is why I sold. The second trade was an emotional buy, against my rules. The third one, a sell, was off the confirmation of resistance at 94.50 holding and a break of the 5 point line (94.45). Mongo, I finally held on for the entire trade! This is an emotional accomplishment for me! I took the meat in the middle on these quarters!
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #120
  • Mar 27, 2014 7:37am Mar 27, 2014 7:37am
Quoting capstone
Three trades this morning. My first trade was correct, just early and I did not let it breath. This is a product of the higher risk I am taking with each trade. I accept that as part of the plan. I saw it as a sell opportunity based on what I believe would have been Mongo's view of it. It was top heavy at the 94.50, where it has been back and forth for the last day or so. It broke south and came back. This is why I sold. The second trade was an emotional buy, against my rules. The third one, a sell, was off the confirmation of resistance at 94.50...
Nicely done!
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