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Trading is as simple as ABCD

  • #2,101
  • Nov 4, 2014 3:40am Nov 4, 2014 3:40am
Quoting Vantage
GJ was again at the top of my TT indi this morning at time of entry, in at 181.61. We have had a pull back to test the level and another HL so hopefully will move on. Will post chart if trade plays out.
This little 21 pip trade ended up being 7% return. Didn't get the best exit but so what.

As mentioned in the above post see GBPCAD which signalled about 30 min's after this entry would have been a classic trade for a few reasons - the failed move lower, break higher and retest of 100lwma and perhaps most important by that stage gbp was strong across many pairs (that I watch anyway).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 36 KB
  • #2,102
  • Nov 4, 2014 3:52am Nov 4, 2014 3:52am
Top of TTindy after news release but still top , nice pullback that I missed to break out below last low had to suffice this time , but will it survive retest???

Attached Image (click to enlarge)
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If it doesn't then back to
Feel the Fear and do it anyway!!!
  • #2,103
  • Nov 4, 2014 3:56am Nov 4, 2014 3:56am
Nope breakout taken out at BE no surprises there, but back to my dear old trusted pullback entry and much better chance of surviving...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 69 KB
Feel the Fear and do it anyway!!!
  • #2,104
  • Nov 4, 2014 4:00am Nov 4, 2014 4:00am
Quoting clivepackham
Top of TTindy after news release but still top , nice pullback that I missed to break out below last low had to suffice this time , but will it survive retest??? {image} If it doesn't then back to
Missed out completely on move down due to numerous house sale related issues!! Getting just a touch nervous over here and almost ready to .
  • #2,105
  • Nov 4, 2014 4:06am Nov 4, 2014 4:06am
Nope , thought it was going to hold for a minute but nope it pipped me out for BE so no harm done...

Looking very positive now for an up move as taken out last LH , a brave man might consider buying a higher low if it appears here , a brave man??? Or a fool???

But its no longer a system trade so will leave well alone now. Had a couple of go's at selling it but not to be ...
Feel the Fear and do it anyway!!!
  • #2,106
  • Nov 4, 2014 4:14am Nov 4, 2014 4:14am
Interestingly I could of scalped off some pips in those last 2 GBPJPY moves but I'm thinking more along the lines of entering strong moves on the 1 min and holding for the bigger move. It worked really well yesterday with over 600 pips, now I know thats an extreme example but 600 pips is a lot of little orphans...

The difference with my system and most 1 minute scalper systems is that I'm trading with the strongest trenders so can expect bigger moves when I get it right like yesterday... Might mean I missout on a couple of quick scalps today but think if that GBPJPY sell had of retraced 50% of its recent 500 pip move up????

Guess its the same old question of, am I a scalper or a trend trader????

Interestingly enough I've proved that either work here as I've doubled this account scalping all day and made enoermous gains like yesterday trend trading SO botom line is whether you're a scalper or a trend trader, trading with the strongest trenders is a sure fire way to improve your chances of success...
Feel the Fear and do it anyway!!!
  • #2,107
  • Nov 4, 2014 4:14am Nov 4, 2014 4:14am
Quoting clivepackham
Nope , thought it was going to hold for a minute but nope it pipped me out for BE so no harm done... Looking very positive now for an up move as taken out last LH , a brave man might consider buying a higher low if it appears here , a brave man??? Or a fool??? But its no longer a system trade so will leave well alone now. Had a couple of go's at selling it but not to be ...
I know trading break of b point is far from your preferred entry. Pity there was agreement across most pairs that a move down was coming and entry at c would have been very nice. Like I said I was busy on the phone and missed and now have some office duties to attend to so outta here for a bit.

Again several pic perfect trades.
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  • #2,108
  • Nov 4, 2014 4:19am Nov 4, 2014 4:19am
OK back to a nice system trade with th e trend off of that 181.50 level but will it hold??? Got 2 choices I guess...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 72 KB
Feel the Fear and do it anyway!!!
  • #2,109
  • Nov 4, 2014 4:22am Nov 4, 2014 4:22am
Took me out at first attempt but if at first you don't succeed try , try again...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 71 KB
Feel the Fear and do it anyway!!!
  • #2,110
  • Nov 4, 2014 4:36am Nov 4, 2014 4:36am
This is crafty, wasn't sure whether this was going to fly down or fly up from here as stiff support at 181.00 approaching so hedged myself with a 13 pip positive hedge with both entries at BE, now I really don't care which way it goes just as long as it goes one way or the other really reaaly hard...

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Just thought I'd try it see how it goes...
Feel the Fear and do it anyway!!!
  • #2,111
  • Nov 4, 2014 4:41am Nov 4, 2014 4:41am
Need sto break this wedge and to the downside soon...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 71 KB
Feel the Fear and do it anyway!!!
  • #2,112
  • Nov 4, 2014 6:44am Nov 4, 2014 6:44am
Heres another easy chart to trade but I've been driving myself mad trying to fight my way round GBPJPY but got there in the end...

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Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #2,113
  • Nov 4, 2014 7:42am Nov 4, 2014 7:42am
Got stopped out on a couple of my earlier entries but back in again now and going forward again but its looking kinda choppy...

Attached Image (click to enlarge)
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Just took another entry off of a bounce of the daily pivot a new addition to my template...

The reason I'm sort of doggedly pursuing this GBPJPY is because its setup nice on the daily as a breakout trade with a break and retest of the 181.00 level so hoping to get some early entries in this daily run up... If I keep going somethings gotta stick soon...

heres the daily chart that I'm trading...

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Theres three ways to trade my system following strong trenders...

 

  1. Go for all the momentum runs on the 1 minute strong trender so scalp each move and when it falters bank your profits. Mr capstones "Little Orphans" Idea.
  2. Trade the 1 minute trends until they end.
  3. Try to enter in after a reversal in direction of a higher timeframe strong trender, like I'm trying to do on this GBPJPY pair today.

All very good systems in their own right but the latter two can lead to frustration as time after time you're get up to only be knocked out at BE, but thats what goes with the territory but if you catch it right then you could be looking at 600 plus pips days like I had yesterday. So its all a matter of choice really and what fits with your character and what sort of day you're experiencing..

Amazingly I've not had one loser today and yet only 2 small winners because I'm going for the long haul. I've been up well over 100 pips today at different times so it sort of makes me wonder if the best way is a sort of halfway house of banking half profits from momentum runs then let the other halves run. Might be best of both worlds.

Hmmmm have to give that some thought I think...

Feel the Fear and do it anyway!!!
  • #2,114
  • Nov 4, 2014 8:11am Nov 4, 2014 8:11am
Its off again and I'm so tempted to just bank my profits and be done with it before it all comes crashing back to me but I'm convinced its got to go up sometime today so going to hold and see where we end up. If I'm right about the daily breakout trade this could be huge.... and if I'm wrong nothing lost...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 66 KB


Lets see how this all works out...
Feel the Fear and do it anyway!!!
  • #2,115
  • Nov 4, 2014 8:19am Nov 4, 2014 8:19am
Moving nicely now and got its head above water with another level below it to hold it up. Just got this weekly R! to negotiate and we're off... Mind you theres always something else in the way isn't there...

Will my patience and due diligence pay off??? Will I get a big winner today??? Who knows but I can't lose thats for sure...

If this weekly R1 gets smashed then maybe I'll lock in some profits by trailing my stops up underneath it...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 66 KB
Feel the Fear and do it anyway!!!
  • #2,116
  • Nov 4, 2014 8:23am Nov 4, 2014 8:23am
OK weekly R1 safely negotiated so trailed my stops up to lock in some profits just in case this decides to come back at me but hopefully it will leave this place and never return...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 66 KB
Feel the Fear and do it anyway!!!
  • #2,117
  • Nov 4, 2014 8:26am Nov 4, 2014 8:26am
lol dude, 1 min is crazy, but your battles with GBP/JPY are amusing - my charts 4H and above say all's well for now, so good luck with the longs - I'm just gonna wait till the daily break out to actually happen. I see that both of us tried to capture the GBP/CAD - any advice on how to handle news volatility without exiting? I'm thinking hedging but I don't know, not moving the stop loss to BE would have worked for me. cheers.
  • #2,118
  • Nov 4, 2014 8:36am Nov 4, 2014 8:36am
Another 100 pip move from my 1 minute charts, hard to believe isn't it????


Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 68 KB


But I don't believe its over yet so gonna hold as long as I can probably to end of US session at least and add a few more if they setup right...
Feel the Fear and do it anyway!!!
  • #2,119
  • Nov 4, 2014 8:37am Nov 4, 2014 8:37am
Quoting monty505
lol dude, 1 min is crazy, but your battles with GBP/JPY are amusing - my charts 4H and above say all's well for now, so good luck with the longs - I'm just gonna wait till the daily break out to actually happen. I see that both of us tried to capture the GBP/CAD - any advice on how to handle news volatility without exiting? I'm thinking hedging but I don't know, not moving the stop loss to BE would have worked for me. cheers.

Hi Monty

great to see you here , welcome to my mad mad world....
Feel the Fear and do it anyway!!!
  • #2,120
  • Nov 4, 2014 12:49pm Nov 4, 2014 12:49pm
Hi, Clive

I sent you a PM.
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