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Cutting the cord with M1 scalps

  • #141
  • Apr 3, 2014 10:50am Apr 3, 2014 10:50am
Second Demo signal:

Long at 1.3710 - EU - M15
http://www.forexfactory.com/showthre...13#post7381913
Love for all; Hatred for none.
  • #142
  • Apr 3, 2014 11:44am Apr 3, 2014 11:44am
Quoting aahmad29
{quote} Target achieved. http://www.forexfactory.com/showthre...84#post7381884
Just wondering when you plan to trade this with actual money? Those are the results that would count & be worth something. I'm not knocking you, I'm just curious what your plan is.
  • #143
  • Apr 3, 2014 12:05pm Apr 3, 2014 12:05pm
Quoting mongolian
{quote} Just wondering when you plan to trade this with actual money? Those are the results that would count & be worth something. I'm not knocking you, I'm just curious what your plan is.
My own trading is doing very good which is based on study of PA. I post my trading enteries. I m now taking help of this system for my enteries. You can check it on trading system. Link is posted in my previous post. I m just trying to help those traders who only trade based on indicators.
Love for all; Hatred for none.
  • #144
  • Apr 4, 2014 8:24am Apr 4, 2014 8:24am
Quoting aahmad29
Second Demo signal: Long at 1.3710 - EU - M15 http://www.forexfactory.com/showthre...13#post7381913
Close the Long position after hiting TP1

TP1 = 15 Pips

http://www.forexfactory.com/showthre...13#post7384113
Love for all; Hatred for none.
  • #145
  • Apr 7, 2014 7:02am Apr 7, 2014 7:02am
Third Demo Testing Signal:

http://www.forexfactory.com/showthre...05#post7388005
Love for all; Hatred for none.
  • #146
  • Apr 10, 2014 5:13am Apr 10, 2014 5:13am
Three trades yesterday. The only trades all week. Two losers on AUDJPY. Both were trying to pick a top and countertrend. This is something I must stop doing. I think it is the number 1 thing for me that will change my fortunes. The third trade was last night on EURJPY. This time it was with the trend for a quick and easy 2%.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #147
  • Apr 10, 2014 6:07am Apr 10, 2014 6:07am
A trade from this morning before taking the older kids to school. USDJPY. Price had broken up and confirmed itself so I went long on a setup bar with the goal of hitting the mid quarter. I did take the trade a tad early. It never really triggered until a few bars later. But being over the 125EMA and the 34 SMA crossing the 125EMA gave me confidence. Now Mongo, I know we are trading PA, but I need a little help. This was done at a reduced lot size while I re train my brain to only take more trend friendly trades. This will be the difference between cutting the cord, or staying attached to "the man" (shudders). Once I saw that the mid quarter was going to be confidently broke, I stayed with it. I switched to the M5 chart and exited when I saw hesitation as it approached the underside of the 125 EMA on the M5 chart. I was going to target the next quarter line, but thought better of it.
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #148
  • Edited 6:06am Apr 11, 2014 5:32am | Edited 6:06am
I was trying to set a market order on the EURUSD at 1.38954, with a TP at 1.3900 and a stop at 1.3890 but I kept getting an error that said "invalid s/l or t/p". Anyone that can help me with this? What did I do wrong? Does Oanda require the TP and SL to be a certain distance form the order?

Result would have been a loss. Looking at the M5 chart showed it to be top heavy.
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #149
  • Apr 11, 2014 5:40am Apr 11, 2014 5:40am
Most brokers have a minimum distance from order - usually tells you what it is on the ticket.
  • #150
  • Apr 11, 2014 5:49am Apr 11, 2014 5:49am
Quoting handy148
Most brokers have a minimum distance from order - usually tells you what it is on the ticket.
I do not see any minimums on the ticket. I will check with Oanda. Thx for the heads up Handy.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #151
  • Edited 7:22am Apr 11, 2014 6:11am | Edited 7:22am
This was a great Mongo trade I think. Can you confirm this Mongo? My analysis is that the M5 and M15 were showing top heavy. Price was stopped 3 times at the quarter with the third being a shooting star. I think Mongo would have taken it at the arrow, I would have taken it at 0.9420.9, which is under the 10 SMA and 34 SMA. It would have netted 2%.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #152
  • Apr 11, 2014 7:38am Apr 11, 2014 7:38am
Quoting capstone
This was a great Mongo trade I think. Can you confirm this Mongo? My analysis is that the M5 and M15 were showing top heavy. Price was stopped 3 times at the quarter with the third being a shooting star. I think Mongo would have taken it at the arrow, I would have taken it at 0.9420.9, which is under the 10 SMA and 34 SMA. It would have netted 2%. {image}
That's the tricky thing. Hindsight, yeah - I could have taken it. I will tell you. My taking a trade like depends a lot on how I've done throughout the day. If my confidence is high, I'd jump all over it. IF I've had a day where my teeth have been kicked in - I may shy away. It's part of human nature I suppose. I may have touched on this in the other thread briefly, I don't remember. But I look @ trades as basically being 1 of 4 possible setups.

1. Long ,Long - Meaning the trend is long and my trade is long.
2. Long, Short - Meaning the trend is long and my trade is short - A counter-trend trade if you will.
3. Short, Short - Short trend, short trade.
4. Short, Long - Counter-trend.

Usually, with #1 and #3 - the setup is in the direction of the trend, everything is going the same way - I'll trade a big here.
With #2 and #4 - I have a setup - similar to what you just posted - where everything is going one direction, but it appears that there may be a change in direction. Here, I'll trade smaller. Like no bigger than half of what I would do for #1 and #3. I look @ it as kind of like a scout trade. It's scouting out to see if indeed direction is changing. If I get confirmation, and trend is changing, then the NEXT trade, I'd look to add size to it. IF it proves the trend is not changing, then I haven't risked as much, and the only thing I lost in my army is a scout. I've protected my army (my inventory) and I move on.

So that's the long answer to yes, I would take that.
  • #153
  • Apr 11, 2014 7:53am Apr 11, 2014 7:53am
Quoting mongolian
{quote} That's the tricky thing. Hindsight, yeah - I could have taken it. I will tell you. My taking a trade like depends a lot on how I've done throughout the day. If my confidence is high, I'd jump all over it. IF I've had a day where my teeth have been kicked in - I may shy away. It's part of human nature I suppose. I may have touched on this in the other thread briefly, I don't remember. But I look @ trades as basically being 1 of 4 possible setups. 1. Long ,Long - Meaning the trend is long and my trade is long. 2. Long, Short - Meaning the...
Thank you for all of that. It does help! I did not take it because I am concentrating on trying to stay with the trend (#1 and #3). My weakness is going hard after #2 and #4, then getting burned. That is what happened this week. I will slowly work both trades into my arsenal, but want to concentrate on trend trades for now. I like the half size idea.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #154
  • Apr 11, 2014 10:04pm Apr 11, 2014 10:04pm
What is up with the trade explorer? It shows I lost a lot today, when I did not even take a trade today. In fact, the trade list shows I did not take a trade. What is up with that?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #155
  • Apr 12, 2014 12:08am Apr 12, 2014 12:08am
My explorer did the same. It says I lost 81%, whereas I actually made money. LOL
  • #156
  • Apr 15, 2014 1:35pm Apr 15, 2014 1:35pm
A very quick trade at lunch. Wanted it to go to the quarter line, which it is doing as I type, but I also needed to get to back work. I am already late Anyway, it was with the trend and good for 1% so I will take it.

Also, I rec'd an email from FF about setting up the TE differently so it does not glitch like it is now. I will try it tomorrow on my day off.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #157
  • Apr 16, 2014 10:06am Apr 16, 2014 10:06am
A quick trade based on reaction to the mid quarter, which is also a resistance line from 2AM EST. Original target was the quarter, but I do not mind. I will get back to hanging on Mongo. This was a countertrade from the move up, so I do not mind only taking the 1%. Reasons for entering: 1. resistance on todays high 2. Strength meter showed the AUD dropping fast and the JPY slowing rising. 3. Fast stoch coming out of OB.
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Click to Enlarge Name: audjpym1.png Size: 50 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #158
  • Apr 17, 2014 12:31pm Apr 17, 2014 12:31pm
No trades today. There were a few setups, but I did not take any. Tomorrow is Good Friday, and you can see on the calendar that it starts tonight in some places. Market might thin out. I am not sure I will even look at the charts. Good luck everyone who stays in.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #159
  • Apr 24, 2014 6:11am Apr 24, 2014 6:11am
I do not know why I seem to self sabotage! Again, it is obviously going up. Seems top heavy, but supported by the 34 the entire way. Odds are much better to go with the momentum then bet on the counter, yet I bet on the counter. It is like I am taking the dog in every sports bet, or trying to sell cars to only people with bad credit and no money down. IT DOES NOT WORK!!! I have to get that!! Soon. I will run out of inventory. I am quickly running out of time already! Maybe that is part of my problem, I constrain myself to time and lose patience.
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 70 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #160
  • Apr 24, 2014 10:14am Apr 24, 2014 10:14am
Quoting capstone
I do not know why I seem to self sabotage! Again, it is obviously going up. Seems top heavy, but supported by the 34 the entire way. Odds are much better to go with the momentum then bet on the counter, yet I bet on the counter. It is like I am taking the dog in every sports bet, or trying to sell cars to only people with bad credit and no money down. IT DOES NOT WORK!!! I have to get that!! Soon. I will run out of inventory. I am quickly running out of time already! Maybe that is part of my problem, I constrain myself to time and lose patience....
I know you have your spreadsheet of expected growth, we've all done that @ one point or another. Personally - I found that to be a trap. We get caught up in the expectations we have set out with this spreadsheet and when we aren't meeting them, the self talk turns negative and we make it really hard on ourselves. (at least I did). As you can see from your trade explorer - growth is not a straight line. It's a jagged mountain to climb. Filled with peaks and troughs.

Let me ask you - Instead of trading .5 can you trade .05? Two things about that - 1. It will give you more time and room to get yourself right and 2. It can remove some anxiety of trading when things are going rough. I went through the same thing.

One other thought - This constant need to counter-trend trade. All that is, is an attempt to pick a top or pick a bottom, and that is greed and fear rearing it's ugly head. Greed - because I want to get in right @ the turn and fear - because I am afraid I'll miss the turn. It also can be an issue of pride. Pride meaning as a trader - I am proud that I got in @ the top or bottom. All 3 of those will be the seeds of destruction for a trader. We have to put aside greed, fear and pride.

Any trader who is worth his salt and who has been fortunate enough to be around a long time will tell us that it is a fool's errand. The market will take price higher than you think it should go and lower than you think is possible. As a trader - when I was willing to forgo trying to get the peak, when i was willing to say forgo the first 10% move in order to get the remaining 90% - that's when I started having success.

Keep your head up. I would look to see if you can trade down some more. Don't sweat it that it will put you behind schedule. Until you are confident and competent day in and day out - protect your inventory!

Mongolian
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