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Trading is as simple as ABCD

  • #1,881
  • Oct 16, 2014 4:41am Oct 16, 2014 4:41am
Just took another 7.8 out of this.. Look at this chart guys??? I'm asking you, who couldn't trade that???

Look at those pullbacks, look at those CCI signals????

Little orphans and candy from a baby come to mind..
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #1,882
  • Oct 16, 2014 5:04am Oct 16, 2014 5:04am
Took another 12 there, these little orphans are starting to add up...love em, come to daddy..

Mind you look what happened just afterwards...Hmmmm I know taking orphans is generally the best advice but when we can identify strong trenders like this it just makes you wander

I know, i know, I'm just saying with top trenders you can expect a good move thats all...
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #1,883
  • Oct 16, 2014 5:09am Oct 16, 2014 5:09am
Another 14...
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Feel the Fear and do it anyway!!!
  • #1,884
  • Oct 16, 2014 5:20am Oct 16, 2014 5:20am
Another 10 pips from EURJPY these little orphans are working well today up 60% on my account today but looking at these charts shouldn't I be holding the baby a little longer????

Days like this are rare I guess and at least this orphan system works on both types of days strong trending and rangy days too, thats the secret I guess it works on both types of days...
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Feel the Fear and do it anyway!!!
  • #1,885
  • Oct 16, 2014 5:28am Oct 16, 2014 5:28am
Well enoughs enough for me, strange how this started off with me turning from winning to losing to winning again. Just goes to show you have to stick to what you're doing even when you have a couple of losers, just stick to the system and it all comes good in the end. guess thats a major part of trading psychy dealing with losers and winners the same...

Anyway these trends can't keep going can they??? Well not without a little pause and a correction stage at least if not a full reversal???

Yep feels like things are starting to come together and developing consistency , losing days are getiing fewer and fewer...

Going to take a well earned rest here and make myself a cuppa... then have a look at the TTindy and see whats happening???
Feel the Fear and do it anyway!!!
  • #1,886
  • Oct 16, 2014 5:58am Oct 16, 2014 5:58am
Had a nice cup of tea there and now it looks like its time for a reversal of the mornings action so going to try this EURJPY long for a bit and as its right at the start of a possible reversal might hold this little baby for a bit longer ...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym1.png Size: 62 KB
Feel the Fear and do it anyway!!!
  • #1,887
  • Oct 16, 2014 6:25am Oct 16, 2014 6:25am
Morning Clive - we all trade differently but I wouldn't have taken a long there because it was below the m5 ma (which was still red). I'm not a fan in general of counter trend trades and the dominant trend on that chart is down. Anyway without contrarian views we wouldn't have a market at all.

All the best

Mike
  • #1,888
  • Oct 16, 2014 6:54am Oct 16, 2014 6:54am
Quoting handy148
Morning Clive - we all trade differently but I wouldn't have taken a long there because it was below the m5 ma (which was still red). I'm not a fan in general of counter trend trades and the dominant trend on that chart is down. Anyway without contrarian views we wouldn't have a market at all. All the best Mike
Hi Mike

Thanks for your comments and I'm thinking the same as you as many of my losers are trying to catch reversals before it crosses the 5 min Lwma so couldn't agree more. Of course all reversals begin on the 1 min chart so thats what keeps me going for these trades, however I am seriously thinking of dumping all thoughts of catching these reversals and only trade the top 1 minute trenders as then the trend is established and all I have to do is trade it accordingly.

Its far easier to trend a strong trend once its established on the 5 min trend as then the 5 minute traders are on my side too...

Anyway as usual I've just taken that reversal and its worked but I had to sweat it out as the 50 level held up for me. It was as a very poor entry so don't worry its not fooling me I know its best to not take them as they usually cost me money... But heres how that reversal worked out with another 23 pips here.

I will say in my defence, it was in the top trender when i took it...

Attached Image (click to enlarge)
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By the way almost doubled my account today because I was trading strong trenders so need to stick to that plan, thats for sure and forget about these reversal setups.

Thanks again for your comments Mike really appreciate it, trading gets lonely sometimes doesn't it??
Feel the Fear and do it anyway!!!
  • #1,889
  • Oct 16, 2014 7:06am Oct 16, 2014 7:06am
New York open so learnt my lesson this morning and got burnt entering durring the initial minutes so not this time, will wait a bit and see who comes out top of my TTindy then go from there,

Time for another a cuppa I reckon...
Feel the Fear and do it anyway!!!
  • #1,890
  • Oct 16, 2014 7:12am Oct 16, 2014 7:12am
I know what I said but this looked too good to refuse..
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Feel the Fear and do it anyway!!!
  • #1,891
  • Oct 16, 2014 7:23am Oct 16, 2014 7:23am
Quoting clivepackham
I know what I said but this looked too good to refuse.. {image}
You can't do this in a live account as the emotional reaction will be completely different, so you better start adjusting now otherwise it is a recipe for (future) disaster I should get Martin to talk to you again as you have to remember that you are the leader here and need to lay good example

Stay disciplined and be very patient. Don't chase trades. You already defined your rules - play (trade) by the rules. The problem is not today but when you begin to trade really big accounts and doing well, then you suddenly take this kind of trade and it turns ...... your guess is as good as mine what will happen

I'm going for few hours snooze before leaving for work as I've stayed longer than I wanted today.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #1,892
  • Oct 16, 2014 7:41am Oct 16, 2014 7:41am
Quoting 919gilead
{quote} You can't do this in a live account as the emotional reaction will be completely different, so you better start adjusting now otherwise it is a recipe for (future) disaster I should get Martin to talk to you again as you have to remember that you are the leader here and need to lay good example Stay disciplined and be very patient. Don't chase trades. You already defined your rules - play (trade) by the rules. The problem is not today but when you begin to trade really big accounts and doing well, then you suddenly take this...
I hear you loud and clear and it was stupid as it cost me another 20 pips just like this mornings LO , not worth getting involved in especially with news at 13.30hrs!!

Perfectly justified to rollick me George as it was completely fool hardy but would like to think I wouldn't do it with real money. OK so lesson learnt no more entering around the actual open times, just let the price setttle down nicely say 20 mins later or after the 13.30 news release.

Heres that crap trade and notice the bad entry too , top of wave, should be bottom of wave at the 25 level, break and retest of 25's are awesome entries, aren't they Mr capstone??
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Feel the Fear and do it anyway!!!
  • #1,893
  • Oct 16, 2014 8:13am Oct 16, 2014 8:13am
Quoting clivepackham
{quote} Heres that crap trade and notice the bad entry too , top of wave, should be bottom of wave at the 25 level, break and retest of 25's are awesome entries, aren't they Mr capstone?? {image}
Yes they are. Mongolian has opened my eyes to that! Looking at that chart, you are correct. It looks like your entry, based on MAs and CCI, would have been a little bit before the NYO where it bounced off your 35LWMA.

Still a strong day for you. Congrats. At this point, you may consider opening a live account with something small. Even with a small amount of investment, the feelings will change and the psychology will too. You have the entries nailed and you have shown you that you understand how singles win baseball games. When you took that mentality today, your whole result shifted. It is time!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,894
  • Oct 16, 2014 8:17am Oct 16, 2014 8:17am
Quoting clivepackham
{quote} I hear you loud and clear and it was stupid as it cost me another 20 pips just like this mornings LO , not worth getting involved in especially with news at 13.30hrs!! Perfectly justified to rollick me George as it was completely fool hardy but would like to think I wouldn't do it with real money. OK so lesson learnt no more entering around the actual open times, just let the price setttle down nicely say 20 mins later or after the 13.30 news release. Heres that crap trade and notice the bad entry too , top of wave, should be bottom...
I learnt mine too but was lucky because I was trading with the trend, so I understand how we can get sidetracked.

Good trading anyway
Low Risk Low Stress High Reward High Probability Trades
  • #1,895
  • Oct 16, 2014 8:18am Oct 16, 2014 8:18am
Quoting capstone
{quote} Yes they are. Mongolian has opened my eyes to that! Looking at that chart, you are correct. It looks like your entry, based on MAs and CCI, would have been a little bit before the NYO where it bounced off your 35LWMA. Still a strong day for you. Congrats. At this point, you may consider opening a live account with something small. Even with a small amount of investment, the feelings will change and the psychology will too. You have the entries nailed and you have shown you that you understand how singles win baseball games. When you took...
Well said Capstone
Low Risk Low Stress High Reward High Probability Trades
  • #1,896
  • Oct 16, 2014 8:39am Oct 16, 2014 8:39am
Quoting capstone
{quote} Yes they are. Mongolian has opened my eyes to that! Looking at that chart, you are correct. It looks like your entry, based on MAs and CCI, would have been a little bit before the NYO where it bounced off your 35LWMA. Still a strong day for you. Congrats. At this point, you may consider opening a live account with something small. Even with a small amount of investment, the feelings will change and the psychology will too. You have the entries nailed and you have shown you that you understand how singles win baseball games. When you took...
Good morning Capstone

Yep I think its fast approaching the time to go live, just got a few creases to iron out yet on demo then once I'm absolutely happy with the whole system I'll take my baby out for a ride.

I'm still entering a bit early sometimes and have to sweat through a drawdown , all part of my "Fear of missing out" problem. Thats my biggest nemesis frightened I'll miss out and get in too quickly and frightened I'll leave something on the table so stay in too long.

very interesting that just taking profit soon as I saw it falter worked really well this morning so thanks for your help there. Also didn't mind if it flew on afterwards either so that was good.

As for using real money, one little problem there I guess you'd have to have some in the first place , right now my finances are an absolute disaster just getting by week to week not even £100 to spare but working on it.

Hows your continuation trading going?? Look at my results from this morning, all I do is trade the strongest trenders, simple as that and with your price action trading skills you'd find it a doddle. heres another 13 pips from GBPJPY got out at 50 level but it smashed straight through, never mind will catch the retest ....
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Feel the Fear and do it anyway!!!
  • #1,897
  • Oct 16, 2014 8:42am Oct 16, 2014 8:42am
sorry wrong chart its this one..
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Feel the Fear and do it anyway!!!
  • #1,898
  • Oct 16, 2014 8:50am Oct 16, 2014 8:50am
off we go again...
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Feel the Fear and do it anyway!!!
  • #1,899
  • Oct 16, 2014 8:53am Oct 16, 2014 8:53am
Another 7 there getting a bit jumpy as this is right on a 15min level so expecting some stiff resistance here any moment soon, but you wouldn't think so looking at the price action???
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Feel the Fear and do it anyway!!!
  • #1,900
  • Oct 16, 2014 8:54am Oct 16, 2014 8:54am
Quoting clivepackham
{quote} As for using real money, one little problem there I guess you'd have to have some in the first place{image}
What is the minimum your broker will let you open an account with? 25? 50? It could be that going live is what you need to iron out your kinks and fear of missing out. When I play poker, I am not playing my cards, I am playing the other players. I do not think about what I have, I think about what they might have. It is a subtle difference in paradigm that changes the game. The similarity here is in not being afraid you are going to miss something (knowing your cards only), but rather taking the context clues (to the left on your chart) and trying to figure out your odds based on your edge.

With just the minimum in a live account and this slight shift in paradigm, you are well on your way. Do not wait until your system is exact, because it will not be. You are there. If I waited until I was ready to afford children, I would have had none, ever...Just my thoughts.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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