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Cutting the cord with M1 scalps

  • #341
  • Nov 17, 2014 4:23am Nov 17, 2014 4:23am
Quoting capstone
Here is the follow up. It went to 8.6 pips in my favor. Once it retreated back to 5 pips, I closed. We are at the 100 LWMA on the M15 from underneath, so it may go short here. It is in an area of battle between bears and bulls here. However, the GBPJPY and AUDJPY are continuing to rise. {image}
Well done mate, keep it going for the week...

You were absolutely right about the move weakening , don't forget even trading with strong trenders you still have to apply your trading skills to decide whether to take it or not. The TTindy is just the first filter after that you still have to apply all your hard earned price action skills to decide to trade it or not...

The one thing that I always want to see is evidence that the trend is still in place, usually for me thats a strong AB move proceeding your pullback entry...

Remember... "The trend is your friend until it ends....."


Can't wait to see your end of week figures..
Feel the Fear and do it anyway!!!
  • #342
  • Nov 17, 2014 10:20am Nov 17, 2014 10:20am
Quoting Stcm
Capstone I think you are really close to success! All you need to do is just look at your trade explorer. Here is what you can see, you have 48.2% win rate, average win 1% and average loose -1.7%. So all you have to do is everytime whe you normally will press the "buy" button you need to press the sell button and keep everything else the same. This way you would have average win rate of 52.8%, with average win of 1.7% and average loss of 1%. If you look at your numbers, that will be 117 winners x 25$ and 110 losers x 16$, which will equal 1165$...
Just call me Costanza.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #343
  • Nov 17, 2014 3:40pm Nov 17, 2014 3:40pm
Quoting capstone
{quote} Just call me Costanza.

Do you know he's kinda right, if you've been counter trend trading most of your account then I wander what those counter trend trades would of produced if you had gone with the trend??? Hmmm interesting??? Would you say that generally speaking you've been counter trend trading up to now???

very interesting thought that
Feel the Fear and do it anyway!!!
  • #344
  • Nov 18, 2014 3:58am Nov 18, 2014 3:58am
I missed a pretty good entry on GBPJPY at 5:24 EST. Other than that, things have been fairly flat. No trades so far.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #345
  • Nov 19, 2014 5:47pm Nov 19, 2014 5:47pm
Hi Cappers

How you doing here???

See that EURUSD buy trade didn't quite work out did it??? Very close to working to be fair, BUT WHY?????

At the time that was counter trend my friend..... Hmmm what are we going to do with you?????

You seem destined to work as a car salesman if you continue with these countertrend trades... You know that don't you????

Here's a quote by Albert Einstein that feels appropriate.

Insanity: doing the same thing over and over again and expecting different results.
Albert Einstein


Leave it with you my friend, leave it with you......
Feel the Fear and do it anyway!!!
  • #346
  • Nov 20, 2014 1:11am Nov 20, 2014 1:11am
Quoting clivepackham
Hi Cappers How you doing here??? See that EURUSD buy trade didn't quite work out did it??? Very close to working to be fair, BUT WHY????? At the time that was counter trend my friend..... Hmmm what are we going to do with you????? You seem destined to work as a car salesman if you continue with these countertrend trades... You know that don't you???? Here's a quote by Albert Einstein that feels appropriate. Insanity: doing the same thing over and over again and expecting...
I was looking at those stupid renko charts. I am done with those.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #347
  • Nov 20, 2014 1:54am Nov 20, 2014 1:54am
That continuation didn't work.
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #348
  • Nov 20, 2014 5:40am Nov 20, 2014 5:40am
Quoting capstone
That continuation didn't work. {image}

Yep nothings gauranteed to work everytime unfortunately but I will say thats not a very good continuation trade in my book...

If we're going to trade with the trend it needs to be a strong one, which means in the top 3 or 4 of the 1 min TTindy but that on its own is not enough. When you pull the chart up you need to see evidence that the trend is still strong and,in this case, that the sellers are still firmly in control of the trend. You need to see a strong AB move that clearly takes out the last drive down.

As you can see from your chart it had several goes to drive lower and failed at least 3 or 4 times... Thats not good, soon as I see a failed drive I'm suspicious about my trend ending. When I see several I'm out of there...the buyers are getting control back or theres at least a fight going on for control. Stand aside and wait to see who wins the battle then jump on board...

It was also taking support off of yesterdays low and daily S1 so every possibility of a reversal. I often would sell the first bounce and get to BE very quickly just in case it bounces harder the next time because very often after a bounce it will go through all sorts of support levels like this and it gives me space to get to BE...


The sort of signal I'm looking for is the one back up, noww its not brilliant but it does illustrate what I'm talking about with a strong AB move taking out last high (buyers clearly in control) then pulls back to a AAA+ entry with 3 key levels...

This is not a perfect example but its on the same chart so I used it . I actually wouldn't of traded it because I don't think its a Top trender 100lwma slope not that steep and to be honest I don't like the price action on EURUSD as it doesn't lend itself to my strategy very well. If you go back through my posts I think you will only ever find one trade I took to give it a 2nd chance but that didn't work out either...

But heres the bottom line for me, if you're looking for continuation trades then there has to be evidence that the trend is still strong, AB clears last drive...and no failed drives....

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 76 KB


Sent you a PM ....
Feel the Fear and do it anyway!!!
  • #349
  • Edited 10:40am Nov 20, 2014 10:10am | Edited 10:40am
Quoting clivepackham
{quote} As you can see from your chart it had several goes to drive lower and failed at least 3 or 4 times...
After I got into the trade I did see that it had not dropped and had not formed a LL previous to my entry.

Here is the trade I took a bit after that one. I did change the MA slightly, but the core is the same. I have a larger spread on this pair, but it moves so well lately, that it is easier to cover then the small spread on the slower moving pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 69 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #350
  • Nov 21, 2014 3:08am Nov 21, 2014 3:08am
Two trades here. I took the first prematurely, but had the right idea! Had my stop not been so tight, there would be no loss at all but instead an 8 pip profit. Oh well. Learning is the game. Entry reasons are rather obvious. Exit on second trade based on the BRN, which happens to be the bottom of the candle that started the retrace.
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #351
  • Nov 21, 2014 4:50am Nov 21, 2014 4:50am
Quoting capstone
{quote} After I got into the trade I did see that it had not dropped and had not formed a LL previous to my entry. Here is the trade I took a bit after that one. I did change the MA slightly, but the core is the same. I have a larger spread on this pair, but it moves so well lately, that it is easier to cover then the small spread on the slower moving pairs. {image}
Nice trade..

Are you entering at market??? Dragging a pending order under your signal candle(when CCI signals with smaller candle) may have got you in a touch earlier...???

Hey!!! Green figures for this week, awesome!!!!!
Feel the Fear and do it anyway!!!
  • #352
  • Nov 22, 2014 5:13am Nov 22, 2014 5:13am
I just went back through the first 7 pages of my journal. WOW! Not very good. Some decent trades there, but the majority were just lucky. The ones I lost are ridiculous trades that shouldn't have been thought about! I have come a long way this year and want to thank all contributors for this. Particular thanks to Mongolian and Clive! Mongo, as a professional trader, this had to be painful to watch. You must have scratching your head at some of my entries.

The thing I saw the most was buying when there was no HH and selling when there was no LL. I also saw constant changes in indicators at the bottom of the chart. Thanks to Clive, I have learned the CCI and its virtues. Thank you!

I will take more time to review past trades later. For now I start my least favorite part of car sales (and my wife's least favorite), working all day Saturday!

I will be pushing hard this winter on trading. One final push for this cutting of the cord!
Attached Image (click to enlarge)
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Attached Image
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #353
  • Nov 22, 2014 12:42pm Nov 22, 2014 12:42pm
Quoting capstone
I just went back through the first 7 pages of my journal. WOW! Not very good. Some decent trades there, but the majority were just lucky. The ones I lost are ridiculous trades that shouldn't have been thought about! I have come a long way this year and want to thank all contributors for this. Particular thanks to Mongolian and Clive! Mongo, as a professional trader, this had to be painful to watch. You must have scratching your head at some of my entries. The thing I saw the most was buying when there was no HH and selling when...

Great post Cappers,

Great idea to run through your trade list and have a look whats been going on. We all learn so much more from our mistakes. My dear old Dad use to say, "Son to make a mistake is understandable , to do it again forgivable but anymore after that son and you're a fool"

Keep reviewing your trades everyday good and bad...

Anyway great to see green figures for the week, lets make sure that happens every week from now on...



Lets get that cord cut sometime next year...
Feel the Fear and do it anyway!!!
  • #354
  • Nov 28, 2014 5:22am Nov 28, 2014 5:22am
I have not traded all week. My father in law has been in rehab for awhile and is getting ready to move into assisted living, along with my mother in law. That has been quite the process. Thanksgiving was yesterday too. Monday I'll back hard and heavy, and early.....
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #355
  • Nov 28, 2014 9:56am Nov 28, 2014 9:56am
What is the best setting for Clive's Histogram CCI indi for daily time frame? Default is 20.
I Win, I Lose, It's my Job... And I Love it!
  • #356
  • Nov 29, 2014 4:33am Nov 29, 2014 4:33am
Quoting umairsheikh2
What is the best setting for Clive's Histogram CCI indi for daily time frame? Default is 20.
I run it at 10 and Clive runs it at 8.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #357
  • Nov 30, 2014 9:01am Nov 30, 2014 9:01am
Quoting capstone
{quote} I run it at 10 and Clive runs it at 8.
Thanks. But I am little bit confused what are setting for TrendCCI and EntryCCI values? like TrendCCI 8 and EntryCCI 0 ... Am I right?
I Win, I Lose, It's my Job... And I Love it!
  • #358
  • Dec 1, 2014 2:59am Dec 1, 2014 2:59am
Quoting umairsheikh2
{quote} Thanks. But I am little bit confused what are setting for TrendCCI and EntryCCI values? like TrendCCI 8 and EntryCCI 0 ... Am I right?
Correct
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #359
  • Dec 1, 2014 3:41am Dec 1, 2014 3:41am
Quoting capstone
{quote} Correct
Thanks bro!
I Win, I Lose, It's my Job... And I Love it!
  • #360
  • Dec 2, 2014 7:11pm Dec 2, 2014 7:11pm
A loss on a sell, then a win on a sell. The two put me just 3.2 up for the night. See you tomorrow morning.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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