Trading is as simple as ABCD

Can somebody please recommend a very low spread broker 4 trading the 1m tf, The broker in question must accept scalping and must not have payment/withdrawal problem

You can skin a cat in several ways. What I tried to communicate is that profit/loss for each leg regardless of its size in number of pips should not vary. This can be done in several ways. The best to me is to estimate approximate number of pips move and then calculate lot size to set the gain/loss in dollar amount. This dollar amount should not vary from leg to leg. For example If pa moves let's say 120 pips higher in an uptrend making a new HH and then retraces back 80 pips to make a HL, if trend continues, it should move at least 80 pips to make a new HH or double top. Now, if one is aiming at gaining let's say 2% per trade, should buy as many units that give him/her a profit of 2% if pa goes back to this new higher high. The next leg could be of more or less than 120 pips and therefore the trader would need to adjust lot size so that the gain is again 2%.

I am not a trend trader, but if I was, would buy/sell in the direction of the trend on a retrace of 3/4th or more with stop loss at 100% retrace and tp at 0% retrace (that is, level from where the retrace started).

I don't know how it can be automated, just a thought that came to my mind.

Ok nice early start today and we're off to a good start to the week, lets see where this ends..

BE to start but thats OK it only got 3 pips up at best so no chance to lock any profit in or much time for anything else and the move down was a bit too quick for my liking so gonna let this go for a bit...

Might regret it as a clear Top Trender , but early yet...justgive it a bit of time to develop and catch next pullback if it continues up..

Looks like a bit of GBP strength coming to the market plus I've already missed a sitter on GBPCAD here with my favourite 100lwma entry, no worries there be another one along soon...

GBP strength dropping off and JPY strength replacing it...rather rapidly too...






Just need a nice pullback to get in somewhere...

JPY strength playing through unlike the GBP...

This could be a nice hold today...

Nope the weekly pivot and Fridays low provided too much support out at BE but I'm very tempted to buy GBPJPY here as weekly and Friday low is a strong strong level...

Stopped typing and bought it, not a system trade as such just too good an opportunity to miss out on... Weekly pivot is a great level to take a 1 minute entry off of...as you can see...

This is something I'm keen to pursue using 1 minute entries off of higher timeframe levels...Hmmmm food for thought especially if this charges up the page all day from here...

What a cock up!!! Trying to add on and was dragging my pending order around when I somehow managed to close out my first trade for 16.1 pips... What a shame that was an awesome entry which I reckon was going to be there most of the day.. Oh well never mind at least I replaced it with another one, just a shame when you get an entry like that to knock it off..

Lesson learned lets see how it goes from here..



The other thing that hasn't helped is I was making a recording of it all to post later but camstudio keeps messing about too so that didn't help..

That was nice, thank you Moodys got another 62 pips out of that shame I didn't have that other trade there too...would of been a nice 100 pip plus winner...guess its more luck than judgement however there was a nice move up off of that weekly pivot but was it actually "The Good Old London Boys " getting a tip off about Moody's????

Thats how these things show up down on these 1 minute charts you get a little move early tells you the story about to unfold...




Also a shame I can't get this camstudio working properly that would of been a nice one to record...

Time for a cuppa tea let it all calm down a bit...

good morning!! a question, when you put the entry in BE?

thanks!

Now its all calmed down time for the weekly pivot support to start working again...

Hi Clipi

Soon as I can, I like to see one pullback after my entry then I move it up to BE had several goes at that GBPJPY this morning before I got one to stick... Kept buying off of the bottom of that little 15 pip range off of the 100lwma...10 pip stop and as it moved across range moved to BE eventually it popped out the top..

Banked 20 odd from first run now back in again..

Took another 15 there so 112 pips total from gbpjpy today and I've upped my risk so up about 80% today ... will talk about risk etc later as have some firm views on money management etc...

This GBPJPY is now a strong trender and has been for a while but I got in earlier today watching for the 100lwma cross plus the reaction we got from the weekly pivot...

Got to work harder on getting in a bit earlier on these runs as thats where the bigger momentum moves occur..

And it just keeps going....

Not a counter trend trader but if I was I'd be looking to sell here thats for sure...

Hi clive,

what would you recommond the value for lwma on M5 time frame, I know it is 100 for M1 . I came to know about you through "more simple is impossible". I had checked out renko early in my trading days, but after reading the posts from "more..." thread, I have reconsidered the renko and adding HA for renko was a brilliant idea. now I can even see very clearly the trades and the trend as well.

My main conern is with the trend strength indi as mentioned by you the TTrend indi and the CSM on the RH side of your chart. they do keep on changing and I would like to know what time frames should I enter in those indi's if I am trading with say M5 and M15.


Thanks in advance

Regards,
civilpes2001

Got a few reversal setups here now on GBP pairs after the mornings strength,top of both 5min and 1 min TT's but opposite colours. However if Mr V wasn't tied up with his house moving today he would be saying be careful as its the pre NYO countertrend move where it moves against the LO moves initially only to come back with a thump back with the LO direction...



Just gonna play it safe and watch for a deep pulback where I can get to BE before the B point...

Nice trading this morning it seems Clive, just had a very quick look in a break between moving house.