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Multi-Lot Multi-Timeframe Position trading

  • #361
  • Oct 9, 2014 8:00pm Oct 9, 2014 8:00pm
Quoting marshalmax
I have noticed a lot of shorter term trends while waiting for the Daily and H2 charts to line up. So I decided to look for some shorter term trades by finding the direction of stochs on Daily once price action had produced a higher low followed by a higher high a 2nd new higher low which can be a sign of a new trend establishing. So on the Daily chart I see GBPCAD is still downtrend but with a higher low then higher high and then 2nd higher low I see it could be a trend reversal with new trend. So instead of waiting for all the MAs to reverse and...
Good point. Even though there aren't many long-running trends this week, it's still possible to trade smaller trends for consistent pips, if you are nimble enough.
  • #362
  • Oct 9, 2014 8:15pm Oct 9, 2014 8:15pm
usually for 15M how many pips would you consider closing ?
  • #363
  • Oct 9, 2014 8:29pm Oct 9, 2014 8:29pm
if you were to trade shorter tfs like 15M 30M for maybe 20pips+ or so, which other tfs would you look out for ? =)
  • #364
  • Oct 10, 2014 7:29am Oct 10, 2014 7:29am
Quoting mk5
usually for 15M how many pips would you consider closing ?
Trading the 15M is much like scalping, which I am no expert at. If you look at the 5,3,3 stoch you can get an idea of the cycles or swings on the 15M. If the cycles are smooth and consistent, it may be tradeable. If the cycles are erratic, I would look at trading another pair that is acting better. Swings from peak to valley may run 3 to 6 hours or so on the 15M. Look at the average price travel over the past couple swings or so and you should be able to get an idea of what you can expect. So, on the EU short trade, swings from peak to valley of the stoch are about 5 hours. It is cycling smoothly. The average price travel for the past two swings down is about 50 pips. If price isn't trending, it could be zero, and if it's trending strongly, it could be 75 or more pips. It just depends on the market. If I were trading the M15, I'd want to be trading in the direction of the H1 and H4, but it's been many years since I traded that timeframe, other than using it to help get into longer TF trades.

G
  • #365
  • Oct 10, 2014 7:33am Oct 10, 2014 7:33am
thank you so much for replying me =)
  • #366
  • Oct 10, 2014 7:34am Oct 10, 2014 7:34am
Quoting mk5
if you were to trade shorter tfs like 15M 30M for maybe 20pips+ or so, which other tfs would you look out for ? =)
I watch all timeframes. The 15M is one that I would look at to decide if I want to enter a trade. But if I were to trade it on a lark, I'd be looking below one timeframe and above it 2 or 3 timeframes above the 15M to see that trend is consistently moving in the direction of the trade. As I said, I'm no expert in the short term trading, but the same principles apply.
  • #367
  • Oct 10, 2014 7:05pm Oct 10, 2014 7:05pm
yes i use the m15 just to finetune my entry which i already spotted on H2 in direction of Daily. so profit target depends on price action on Daily and H2 as I mentioned above
Winners add to winning trades!
  • #368
  • Oct 11, 2014 7:48pm Oct 11, 2014 7:48pm
hmm. if lets say 30m 1h 4h is going up but 15m shows going down. u will look out for entry on the 15M to go long am i right to say that? =)
  • #369
  • Oct 12, 2014 2:30pm Oct 12, 2014 2:30pm
Quoting mk5
hmm. if lets say 30m 1h 4h is going up but 15m shows going down. u will look out for entry on the 15M to go long am i right to say that? =)
Personally, I'd wait for the M15 to turn around and rejoin the longer term trend. It might not do that, in which case you wouldn't want to take the trade anyway. I usually don't trade against the direction of price movement.

G
  • #370
  • Oct 12, 2014 7:12pm Oct 12, 2014 7:12pm
right. not easy to do scalping.
  • #371
  • Oct 13, 2014 5:43am Oct 13, 2014 5:43am
Quoting mk5
right. not easy to do scalping.
The problem is that scalping is easy sometimes, giving the impression that there is easy money to be taken from it. It's just a random reinforcement though that resolves down to the gambler's fallacy. In fact, there is no easy money to be had over the long haul, but scalping Forex for a consistent profit is probably the second hardest thing to do in the world. Probably the hardest thing in the world is to teach someone else how to scalp Forex for consistent profits.

G
  • #372
  • Oct 13, 2014 7:16am Oct 13, 2014 7:16am
agreed. i lost all my winnings within a week =(
  • #373
  • Oct 13, 2014 11:12am Oct 13, 2014 11:12am
Quoting Graviton
{quote} ......One way to add some caution to your trading is wait an hour or two and see what would have happened had you entered there, if you missed a few pips and it would have moved in your favor, at least you can have confidence in your choice, at the cost of a few pips. Almost half the time the market was giving you a "head fake" and you'll be glad you gave it a bit more time to develop. G
Hi G,

Hope you are well. I have been doing some R&D the past few days based on your comment above. Thanks very much for that. I think that delaying as you suggested will be a big help. The other thing that I am looking at is trading the line by which I mean EMA3, particularly for the placement of Entry orders. I have a tendency to be faked out/sucked-in by Candle structure when so often PA will revert to a mean of some sort. Kind of reminds me of a former basketball coach who told us to watch the players belly button and not the razzle dazzle of his arms, head or feet. He ain't goin nowhere without it!!

AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #374
  • Oct 13, 2014 4:43pm Oct 13, 2014 4:43pm
Still not seeing any good entries from Daily and H2. Was replicating my system using H2 and 15m but was a little too hit and miss so abandoned that and now just waiting for proper entries with higher timeframes.
Winners add to winning trades!
  • #375
  • Oct 13, 2014 8:59pm Oct 13, 2014 8:59pm
Quoting AlbinaGrande
{quote} Hi G, Hope you are well. I have been doing some R&D the past few days based on your comment above. Thanks very much for that. I think that delaying as you suggested will be a big help. The other thing that I am looking at is trading the line by which I mean EMA3, particularly for the placement of Entry orders. I have a tendency to be faked out/sucked-in by Candle structure when so often PA will revert to a mean of some sort. Kind of reminds me of a former basketball coach who told us to watch the players belly button and not the razzle dazzle...
Yes, it's funny how a simple little thing can make such a big difference sometimes. Be careful out there. It's a very volatile week with massive reversals and whipsaws.

G
  • #376
  • Oct 13, 2014 9:07pm Oct 13, 2014 9:07pm
Quoting marshalmax
Still not seeing any good entries from Daily and H2. Was replicating my system using H2 and 15m but was a little too hit and miss so abandoned that and now just waiting for proper entries with higher timeframes.
Yes, it's rough out there. I have some long term S&P holdings that are getting the crap kicked out of them as well. Trading will eventually straighten out again, but last week and this week it's been very tough. If it doesn't improve, I'll reduce my position size until things get good again. It always does, but the trick is to not get beat up too badly before it does. Be patient. If necessary, consider trading like 1/5th your normal trade size until things are good again.


G
  • #377
  • Oct 13, 2014 9:44pm Oct 13, 2014 9:44pm
lol 1/5th! You are so funny!

I am a noob and trade a mini account so the smallest I can go is 1k or 0.10 per pip.
Winners add to winning trades!
  • #378
  • Oct 13, 2014 11:30pm Oct 13, 2014 11:30pm
im only trading with 0.05
  • #379
  • Oct 13, 2014 11:37pm Oct 13, 2014 11:37pm
On a standard account I think that is 5k or 0.50 per pip
Winners add to winning trades!
  • #380
  • Oct 14, 2014 12:33am Oct 14, 2014 12:33am
what kind of tf do you usually trade?
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