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Cutting the cord with M1 scalps

  • #241
  • Oct 11, 2014 6:51am Oct 11, 2014 6:51am
Quoting profitfarmer
no, it is certainly your trading, and only can suggest things, you are the one who ultimately have to make it yours to execute it. also, as a non native English speaker, I cant always express myself the way I wish in this language. happy weekend!
How about this. Will you show me which bar you would have entered on in the last chart you marked up? The arrows are confusing me. Also, why only sells there?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #242
  • Oct 11, 2014 8:33am Oct 11, 2014 8:33am
Hi Capstone

Glad to see you're looking for continuations more thats good news. All I'm saying is trade with the trend and as you know thats all my system is really about but also identifying the strongest trends only.

Won't clogg up your thread too much but just wanted to tell you I've eventually succumbed to your wise words about "orphan pots" and "Hitting singles at baseball" . Its taken a while I know but its a bit like you're finding changing your mindset is very hard when its been set for so long. I've been absolutely consumed with trading the trend and to be honest its messed me up.

Now I'm on board with your "orphans and singles" regime. So much so I gave it a shot Friday heres my results...

Attached Image (click to enlarge)
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Had a couple of losers at the strat as I got use to the idea but then got into the swing of it a bit and eventually banked $2,000 on my demo, which equates to about 25% growth on account. Love my little orphans!!!

Anyway not going to clogg up your thread with how I did it but its all in detail on my thread if you're interested..

Lets keep going along this path together, its all starting to look a bit easier, not there yet but close very , very close...
Feel the Fear and do it anyway!!!
  • #243
  • Oct 11, 2014 8:38am Oct 11, 2014 8:38am
Quoting capstone
{quote} How about this. Will you show me which bar you would have entered on in the last chart you marked up? The arrows are confusing me. Also, why only sells there?
I would be happy to show you...let me see if I can get a better screenshot from your chart...
Why only sell/shorts marked on the second one? just thought the chart would be cleaner, less confusion with only one direction marked, easier on the eyes?
Soon I will post some chart update for you.
there is always, always another trade!!
  • #244
  • Oct 11, 2014 9:13am Oct 11, 2014 9:13am
Ok, here.
Would reach Tp = exit before the point where manually prompted by the candles, but out of interest I marked those would be points.
However, only 1st entry would need to rely on that.
The Tp as used on first picture, 6 pips sized arrows...should leave enough room for the 5 pips proposed Tp....however going at exit also with the candle formation, only #3 trade would produce small loss, all other would be showing profit with that exit method too, if no hard Tp set.
This chart you didn't have the Stoch set u, so, cant use it to filter out or confirm trades as is.
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there is always, always another trade!!
  • #245
  • Oct 14, 2014 6:47am Oct 14, 2014 6:47am
Took a BE here. It went as much as 3 pips my way. Strong support for 2 hours now.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #246
  • Oct 14, 2014 7:24am Oct 14, 2014 7:24am
This one was an experiment. There is nothing more to see here....move on. LOL.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #247
  • Oct 14, 2014 7:54am Oct 14, 2014 7:54am
today the market seem to give decent entries for scalping. so far it was GU for me today, very nice results till now.

capstone, experimenting is good
assume, it is the RSI.
my advice, that on M1 chart, it should not be entry based on it, it should be a sign to look for the entry, imo. use it with like your stochastic to confirm entry, or use S/R lines this one I prefer - your exit is beautiful time for a short.
but I honestly think I will work on this divergence thing some here...I sincerely believe that you have a gem there. only if you could see it...
there is always, always another trade!!
  • #248
  • Oct 14, 2014 6:44pm Oct 14, 2014 6:44pm
Quoting capstone
This one was an experiment. There is nothing more to see here....move on. LOL. {image}

What happened to your promise to do continuation trades only???

You asked for this so here it comes.....brace yourself...

WTF!!!!! You sold into one of the strongest 1 min uptrends I've seen for a long time!!!! There were 33 candles in that run up and only 8 of them were down. Look at the steep upward slope on your MA????? All 3 of your indys were up!!! Put a trendline under that move and there's absolutely not the slightest suggestion it was going to be broken. I'll bet it was top of my 1 minute TTindy up and close to being in the top 3 on my 5 min TTindy up.

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WTF were you thinking of????

Don't worry I know exactly what you were thinking, strong resistance level with a strong reaction and move down last time it came up here, your favourite 50 level and the 3 indys were all overbought. Yep they are all good sell setups, no argument there, BUT IN A DOWNTREND!!!!!!! NOT IN AN UPTREND!!!!!

You see what you doing is just relying on an entry setup but not taking into account the trend..... NEVER EVER ENTER AGAINST A ONE MINUTE TREND ITS JUST GAMBLING!!!! Oh and as you're finding out financial suicide too unfortunately!!!

The problem is of course you're going to show me some lovely setups like this that worked!!! But thats the real problem as my good friend and mentor Martin tells me. The worst thing that can happen to you in trading is you take a bad entry like this once and it works so then you keep taking them and then they keep losing.

Ok I'm giving you a hard time but you did ask me to... I know why you keep doing it because its in your mind thats the way to trade, once somethings lodged in our brains, its so hard to shake it out but thats exactly what you've got to do. Trading against the trend is madness , you see you're winners will be infrequent and when they do happen they will be small. Now what you've got to do is retrain your brain to only trade with the trend for a while so I suggest you open up a demo account and just take with the trend entries, like the one I took this morning before I had to rush out to work. Unfortunately my mobile platform wouldn't open, no signal, so couldn't monitor it at work and got stopped out at BE after being 40 pips up.

Anyway its a great example of a perfect continuation trade.

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They don't come any better than this to be honest.

 

  1. At the time GBPAUD was top of 1 min and 5 min TTindy so obviously trending up strongly but you don't need the TTindy to tell you that look at the steep upward slopes of the MAs and both green.
  2. Nice strong AB move in front of pullback BC move.
  3. CCI oversold and coming back shorter red cci candle.
  4. pulling back to 3 of our key levels, previous resistance , 35lwma and the BRN 1.8300. When three key levels together its a AAA+ entry as it also means my stop was protected below 3 key levels.
  5. perfect little green signal candle so pending buy stop 2 pips above it.

This trade went up 40 pips at its peak because its on a strong trender, thats why you will get bigger winners than messing around with counter trend trades. Thats why I believe trading with the strongest trends is the only way to trade. You're get more winners than losers; the CCI works really well showing swings in momentum perfectly; price zooms away from your entry and your winners are bigger. An absolute no-brainer IMHO.

One last chart to prove a point to you, I know you like your 25 level trades so here's a couple of perfect examples for you but in a strong trending downtrend. How many pips did they go??? I'll leave you to work that one out but if we ever have the nerve to hold until the 5 min 35lwma changes slope then the top ones about 65 pips....

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enough said????
Feel the Fear and do it anyway!!!
  • #249
  • Oct 15, 2014 4:37am Oct 15, 2014 4:37am
Just read my post again, ooops bit harsh wasn't I????

Trying to help believe it or not????
Feel the Fear and do it anyway!!!
  • #250
  • Oct 15, 2014 6:30am Oct 15, 2014 6:30am
Quoting clivepackham
Just read my post again, ooops bit harsh wasn't I???? Trying to help believe it or not????
...and the experiment worked. You are correct sir. Back to continuations.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #251
  • Oct 15, 2014 7:04am Oct 15, 2014 7:04am
Quoting clivepackham
Just read my post again, ooops bit harsh wasn't I???? Trying to help believe it or not????
No not too harsh. The challenge for retail traders is they don't have a 'boss' that they need to report to. Someone who they are accountable to throughout the day. It's just them, their computer screen, and their solitude. It can be tough. I imagine that may be exactly what a conversation would have looked like between a trader and a supervisor if he had one. All traders would be better if they had someone who could look over their shoulder or review their work and say, why did you that? what where you thinking there? how could you do that better next time? I believe the learning curve would be much shorter. That is part of the great thing of ForexFactory - traders willing to lend a voice and a hand to those who ask for it.

M
  • #252
  • Oct 15, 2014 7:06am Oct 15, 2014 7:06am
Quoting mongolian
{quote} No not too harsh. The challenge for retail traders is they don't have a 'boss' that they need to report to. Someone who they are accountable to throughout the day. It's just them, their computer screen, and their solitude. It can be tough. I imagine that may be exactly what a conversation would have looked like between a trader and a supervisor if he had one. All traders would be better if they had someone who could look over their shoulder or review their work and say, why did you that? what where you thinking there? how could you do that...
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #253
  • Oct 15, 2014 8:14am Oct 15, 2014 8:14am
USDJPY. Another BE on a continuation. Everything was good on signals. The only thing that gave me pause in taking this one is the extreme distance it has covered quickly and the ADR RMDN is red.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #254
  • Oct 15, 2014 8:18am Oct 15, 2014 8:18am
The follow up. Would have had my 5 plus some. Oh well.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #255
  • Oct 15, 2014 11:11am Oct 15, 2014 11:11am
Quoting capstone
The follow up. Would have had my 5 plus some. Oh well. {image}

Just one more try and you'd of caught a beauty, one of your break and retests of a 25 level too...Thats the thing about trading with the trend it will give you bigger winners if you catch one...

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You're quite right about the adr of course but in this case it went nearly 230 pips, just goes to show when its trending its trending. I'm very aware that we are getting in a bit late sometimes and the best place is at the start of the move. Start of the new trend is end of the old trend so I'm thinking maybe look for when price cuts through your MA and enter on first pullback, retest of MA or your break and retest of 25 levels ???

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Anyway keep it going at least you didn't have a loser today and you won't have to catch too many to make a nice % return.
Feel the Fear and do it anyway!!!
  • #256
  • Oct 15, 2014 11:42am Oct 15, 2014 11:42am
Correct Clive. Also, here is an AUDJPY trade. Good for 5. I entered based on CCI, stoch, and failure to break MA. I exited based on BRN. The exit shows higher because of spread. I am also using 919Gilead's CSM more, set to M5. I like to see a cross of currencies there. I only use it a guide however, not a decision maker.
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #257
  • Oct 15, 2014 6:29pm Oct 15, 2014 6:29pm
Quoting capstone
Correct Clive. Also, here is an AUDJPY trade. Good for 5. I entered based on CCI, stoch, and failure to break MA. I exited based on BRN. The exit shows higher because of spread. I am also using 919Gilead's CSM more, set to M5. I like to see a cross of currencies there. I only use it a guide however, not a decision maker. {image}
Nice trade and made perfect sense to come out for 5 pips at the BRN, however just like your last trade just one more CCI signal and you'd be away... I think you have to remember you're no longer counter trend trading so maybe move to BE and hold until momentum falters.

I've been having some more thoughts on all this trading strong trends and it seems to me as long as you've got a strong trender then all price action works out fine. Look at this chart below, couple of break and retests of 25 levels, CCI signals working well and even one where we just trade the momentum swing even though it didn't go over +100 level.

By the way I wanted to test out some ideas today on going to BE , leaving stops where they are, holding trades etc etc and took 75 trades to try them all out. After reviewing every trade I've come up with the following conclusions. I reckon its best not to go to BE just leave original stop where it is for at least the next pullback to pass. Hold until you get a reverse candle and trail stop above / below it. Use the momentum swing on the CCI rather than wait for a +/-100 signal as strong trends don't always have them.

Also noticed best entries were close to the 35lwma and its best to try and enter on the first break and retest of the 35lwma.

Also I quite like the idea of entering just after price crosses the 35lwma break and retest and holding all entries until MA changes colour....

have a look at your AUDJPY trade today and the ones around it and you're see what I mean.

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Feel the Fear and do it anyway!!!
  • #258
  • Oct 15, 2014 10:52pm Oct 15, 2014 10:52pm
http://www.sanglucci.com/activetrade...oss-is-a-gain/ I love this site. This piece really hits it on the head for what we've been talking about here lately. It's the process.
  • #259
  • Oct 16, 2014 8:22am Oct 16, 2014 8:22am
Quoting mongolian
http://www.sanglucci.com/activetrade...oss-is-a-gain/ I love this site. This piece really hits it on the head for what we've been talking about here lately. It's the process.
Hi Mongolian

Awesome thread you've posted there, right on the button and exactly what I discovered today with LO had a winner quickly offset with 2 losers, felt bad having lost a couple but carried on grabbing orphans and before I knew it almost doubled my account today. Just can't take losers too seriously if the strategy has an edge you will win out in the end...
Feel the Fear and do it anyway!!!
  • #260
  • Oct 16, 2014 9:20am Oct 16, 2014 9:20am
Quoting clivepackham
{quote} Hi Mongolian Awesome thread you've posted there, right on the button and exactly what I discovered today with LO had a winner quickly offset with 2 losers, felt bad having lost a couple but carried on grabbing orphans and before I knew it almost doubled my account today. Just can't take losers too seriously if the strategy has an edge you will win out in the end...
Things really started being put in perspective for me when I started considering that if I traded for 20 years, however long, taking a couple losses here and there in the grand scope of things, didn't matter. Over time I'll take thousands of trades. It didn't matter as long as I am trading my edge, my plan, AND as long as I am not sizing it wrong. That is a HUGE issue I believe. New traders will get blown out, because they are going in too big too soon.

I read somewhere recently that there are 4 basic possibilities with each trade. 1. It is a huge winner. 2. It's a small winner. 3. It's a huge loser. 4. It's a small winner. The writer said eliminate the huge losses and the math will work in your favor over time. It makes sense to me. Go get 'em boys!

Mongolian
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