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Trading is as simple as ABCD

  • #5,081
  • Apr 13, 2015 2:42am Apr 13, 2015 2:42am
Little rascal shook me off then went....never mind theres another one just along in a minute...
Feel the Fear and do it anyway!!!
  • #5,082
  • Apr 13, 2015 2:47am Apr 13, 2015 2:47am
See I told you there be another one along in a minute...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 60 KB
Feel the Fear and do it anyway!!!
  • #5,083
  • Apr 13, 2015 2:47am Apr 13, 2015 2:47am
No need to be sorry Clive. I live and learn.
It seems that I was under the impression that your MA in Colour was a 100 LWMA when in fact it is a 100 LSMA; or that's what I need to adjust my MA to to get it to look like yours.
Have loaded the new TTindy with the correct settings.
Now need the brain to adjust to the new settings.
  • #5,084
  • Apr 13, 2015 2:59am Apr 13, 2015 2:59am
Quoting clivepackham
{quote} Well done pipsglutton great trade and is that enough for today??? I'm thinking maybe part of this strategy should be just trade the TTindy top trender just after LO and thats it... Talking of top trenders looks like GBBAUD has taken over the top spot so who am I to argue with the market??? {image}
Hi Clive.
I am going to do exactly that until I have my confidence back.
Trading with 2 lots going forward I can back my $350 a day and be very comfortable with that.

Your thoughts on this?
Rgds
Pieter
  • #5,085
  • Apr 13, 2015 3:00am Apr 13, 2015 3:00am
Quoting manfredg
No need to be sorry Clive. I live and learn. It seems that I was under the impression that your MA in Colour was a 100 LWMA when in fact it is a 100 LSMA; or that's what I need to adjust my MA to to get it to look like yours. Have loaded the new TTindy with the correct settings. Now need the brain to adjust to the new settings.
Hi Manfred

I actually use the 120HMA which is the same as the old FSMA without the licensing issues..The reason I've dropped down is I just trade the 1 min moves and nothing else really, will occasionally look up once I 'v caught something but to be honest I just work on the theory up or down????

When you sold your GBPJPY I thought whats he doing that for?? Then I looked up at the 5 min and it looked like it was a pullback on the 5 min...Trouble is it was the LO kicking off when all the new money comes to the table so I think just follow the money and forget about whats happened for last hour as it all kicks off from here IMHO...

Of course these 1 min trends end as quickly as they start so you have to be aware of that but otherwise it seems to be working for me...Up about 40 pips this morning which is about 4% for me as I risk 1% across 10 pips...

Good luck with the new settings goes without saying demo until you feel happy with it....
Feel the Fear and do it anyway!!!
  • #5,086
  • Apr 13, 2015 3:07am Apr 13, 2015 3:07am
OK made some good pips up to now but all GBP pairs are stretched out and looking very toppy, in fact a couple are at double tops on hrly charts so we can expect some trouble here...Might even be some reversals from here, will look for lower lows then wait for the next lower high and see how it feels....
Feel the Fear and do it anyway!!!
  • #5,087
  • Apr 13, 2015 3:14am Apr 13, 2015 3:14am
Remember all the talk at the weekend about selling EURUSD and seeing what sticks??

Well heres that setup we talked about so lets see what I can get to stick as EURUSD top trender....and setting up beautifully....

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 67 KB


have a go at this lads as might be the start of a nice little equity millipede....
Feel the Fear and do it anyway!!!
  • #5,088
  • Apr 13, 2015 3:22am Apr 13, 2015 3:22am
Quoting Pipglutton
{quote} Hi Clive. I am going to do exactly that until I have my confidence back. Trading with 2 lots going forward I can back my $350 a day and be very comfortable with that. Your thoughts on this? Rgds Pieter

Hi Pipglutton

There was once a thread on here by a guy called Paulaus I believe who was only taking one trade per session and taking 3:1 RR's win or lose he just did one trade per session, well after a couple of months he'd quadrupled his account from memory..

So yes I think you could have a go just after each open LO and NYO and risk your money, then if you have one loser you stop.... Keep going if you're winning but soon as you have a loser stop...

Heres that thread http://www.forexfactory.com/showthread.php?t=360197 I'm not suggesting using his entry system but maybe just make sure you only ever have one loser per session , keep going if you're winning and see what happens.. Try to only take really good entries on Top trenders only just after the opens....

Let us know how you get on???
Feel the Fear and do it anyway!!!
  • #5,089
  • Apr 13, 2015 3:23am Apr 13, 2015 3:23am
EURUSD is trying its best for me but not there yet....
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 60 KB
Feel the Fear and do it anyway!!!
  • #5,090
  • Apr 13, 2015 3:25am Apr 13, 2015 3:25am
GBPUSD setting up nicely too break and retest of 1.4600 BRN...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm1.png Size: 67 KB
Feel the Fear and do it anyway!!!
  • #5,091
  • Apr 13, 2015 3:28am Apr 13, 2015 3:28am
Quoting clivepackham
{quote} Hi Pipglutton There was once a thread on here by a guy called Paulaus I believe who was only taking one trade per session and taking 3:1 RR's win or lose he just did one trade per session, well after a couple of months he'd quadrupled his account from memory.. So yes I think you could have a go just after each open LO and NYO and risk your money, then if you have one loser you stop.... Keep going if you're winning but soon as you have a loser stop... Heres that thread http://www.forexfactory.com/showthread.php?t=360197 I'm not...
Thanx Clive, will definitely pursue and keep you updated.

Have to change my current strategy as I have gone off the boil entirely.
Just makes sense as I tend to loose everything I have made during the morning session.
  • #5,092
  • Apr 13, 2015 3:29am Apr 13, 2015 3:29am
There you go one leg on and safely at BE on EURUSD so lets see if this sticks or not????

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 56 KB
Feel the Fear and do it anyway!!!
  • #5,093
  • Apr 13, 2015 3:39am Apr 13, 2015 3:39am
Nope knocked me off at BE so lets have another go....somethings gotta stick sooner or later...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 56 KB
Feel the Fear and do it anyway!!!
  • #5,094
  • Apr 13, 2015 3:48am Apr 13, 2015 3:48am
Quoting Pipglutton
{quote} Thanx Clive, will definitely pursue and keep you updated. Have to change my current strategy as I have gone off the boil entirely. Just makes sense as I tend to loose everything I have made during the morning session.

Yes we can definitely quickly give back our profits on these 1 min charts but in the same vein we can also make money quickly. I'm starting to realise its all about trading the strong trender making some pips then after say first 2 or 3 moves leave it alone.. Sometimes they keep going but 70% of the time they turn around and start ranging...

Trading as such, identifying setups and entries even exits to a certain extent I find fairly easy, its the discipline to stop when you're ahead thats difficult so if I was to bring a strict rule to my trading it would be about trading just after opens only and stopping after a loser no matter when it happened...
Feel the Fear and do it anyway!!!
  • #5,095
  • Apr 13, 2015 4:01am Apr 13, 2015 4:01am
4 trades for me. Risking 2% with 10pip stop. Eur/Usd sell trades. Made 2.14% on the account selling those little bounces around 1.056. Done for the day.
  • #5,096
  • Apr 13, 2015 4:01am Apr 13, 2015 4:01am
clive how do you set the sl on pairs with 5 pips spread like gpb/nzd?
  • #5,097
  • Apr 13, 2015 4:42am Apr 13, 2015 4:42am
Quoting GodFire
clive how do you set the sl on pairs with 5 pips spread like gpb/nzd?
I trade with DMMFX and the spread is 2.4 on GBPNZD fixed... with no commissions.

So to answer your question I tend to avoid trading anything over 2.5 pips if I'm honest, they have CHF pairs fixed at 9 so just don't trade CHF pairs or if I wanted to would switch to FXCM..

When i do trade GBPNZD I do give it a bit more room and usually allow it to work within my 20 pip emergency stop most other pairs I will knock off around 10 pips if it looks like I've got it wrong...

My system is to put a 20 pip emergency stop in place for all trades but watching my level I'm trading, as I usually enter on break and retests and if I see it close across it around 10 pips down I close it out... Quite often it will spike down but not close across the level thats why I don't use a hard 10 pip stop as you get spiked out too often as it flys back your way..

Best thing is to try and find a broker with low spreads and no commision as then I can move to BE knowing its not gonna cost me in commision..
Feel the Fear and do it anyway!!!
  • #5,098
  • Apr 13, 2015 4:45am Apr 13, 2015 4:45am
Well I eventually got EURUSD to hold after quite a fight in and out at least 3 times, but its there now but it will really pee me off if this goes out at BE now...

But I guess thats the nature of the beast if you're trying to build positions up in a daily trend. Might prove to be too much trouble for me plus I'm desperate to close that out for a 20 pip gain...

Oh well lets see how it goes from here...

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 57 KB


But right now I'm thinking its a bit too much like hard work to me especially if I get nothing out of it....
Feel the Fear and do it anyway!!!
  • #5,099
  • Apr 13, 2015 4:56am Apr 13, 2015 4:56am
Its all looking good for my EURUSD trade as EUR pairs weak across the board so hopefully it will plummet all day....
Attached Image (click to enlarge)
Click to Enlarge Name: Bodes well for my EURUSD trade.PNG Size: 80 KB
Feel the Fear and do it anyway!!!
  • #5,100
  • Apr 13, 2015 5:21am Apr 13, 2015 5:21am
Out at BE again after being 20 plus pips up so one last go at this and thats it...

Wouldn't i be better off just trading each push down whenever it turns down????? I reckon I'd of got 30 to 40 pips out of it already,,,

Hmmmm makes me think..

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 50 KB
Feel the Fear and do it anyway!!!
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