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Trading is as simple as ABCD

  • #5,821
  • May 6, 2015 4:32am May 6, 2015 4:32am
Quoting clivepackham
Lets give it a go... {image}
Too late. GBPAUD perfect entry was around 30 mins after LO right into 9075.
Today's zone = Tomorrow's opportunity!
  • #5,822
  • May 6, 2015 4:36am May 6, 2015 4:36am
Ha Ha knocked me off again...!!!!!!!!!!!

I've taken 10 trades this morning and had 1 loser and 9 break evens, unbelieveable!!! definately not flying away from my entries this morning...probably because I'm now trading against the HRLY down trend on GBP pairs...bit of an uphill fight I guess, so maybe we should look for the next 120HMA turn down???

Anyway I'm done for this session but just think if I'd of taken 5 pips out of all my BE entries I'd be 40 pips to the good and 40% up instead of 5% down, makes you think doesn't it???

This trying to hold 1 min runs is a bit of a lost cause I'm starting to think...
Feel the Fear and do it anyway!!!
  • #5,823
  • May 6, 2015 4:45am May 6, 2015 4:45am
Quoting pres78
{quote} Too late. GBPAUD perfect entry was around 30 mins after LO right into 9075.
Hi Pres78

Yea I see what you mean did you get it???

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 57 KB


Heres my feeble efforts later which resulted in nowt, I found price action very jerky today and didn't just go and leave my entries...some days they do and some days they don't , just the way it is I guess...

better luck next time....

EDIT:: Even looking at that perfect entry do you see that green candle about 10 mins later??? That would of got me out for nowt....
Feel the Fear and do it anyway!!!
  • #5,824
  • May 6, 2015 4:47am May 6, 2015 4:47am
Quoting clivepackham
This trying to hold 1 min runs is a bit of a lost cause I'm starting to think...
I apologise if I'm overstepping any boundaries here, and I hope you don't take offence: if you change your strategy based on the performance of one or two days you'll forever be chasing your tail.

This is out of genuine interest (not criticism): what is the longest period of time that anyone using this method has applied exactly the same rules on the same timeframes with the same settings?
  • #5,825
  • May 6, 2015 4:57am May 6, 2015 4:57am
Quoting clivepackham
Ha Ha knocked me off again...!!!!!!!!!!! I've taken 10 trades this morning and had 1 loser and 9 break evens, unbelieveable!!! definately not flying away from my entries this morning...probably because I'm now trading against the HRLY down trend on GBP pairs...bit of an uphill fight I guess, so maybe we should look for the next 120HMA turn down??? Anyway I'm done for this session but just think if I'd of taken 5 pips out of all my BE entries I'd be 40 pips to the good and 40% up instead of 5% down, makes you think doesn't it??? This trying...
take a % at 5pips and watch the rest BE or go.
  • #5,826
  • May 6, 2015 5:01am May 6, 2015 5:01am
Quoting honestknave
{quote} I apologise if I'm overstepping any boundaries here, and I hope you don't take offence: if you change your strategy based on the performance of one or two days you'll forever be chasing your tail. This is out of genuine interest (not criticism): what is the longest period of time that anyone using this method has applied exactly the same rules on the same timeframes with the same settings?
its a good question. not too many documented statistics i feel . . . clive, himself, admits to using quite a bit of discretion with the strategy. back in june/july last year Vantage and Pres78 came up with some more solid rules, but Clive keeps it at more "principles" than strict rules. also, this is in no way a criticism, just my observation as i follow along here . . .
  • #5,827
  • May 6, 2015 5:08am May 6, 2015 5:08am
Quoting clivepackham
{quote} Hi Talzus Welcome to my world, I will answer your questions later, just trying to turn my day around at the mo... Ahh of course the general election is tomoz isn't it??? Thats why there was GBP weakness this morning nothing to do with the pending news etc and also answers the HRLY GBP weakness too...Must be expecting a hung government like you say, mind you hang the lot of em I say.... Thanks for that comment explains a lot... Mind you it also explains why its a worthless task trying to fathom out why price is going one way or...

Haahaha.. I like that!!

Aye, I noticed you're in the UK too after I posted. I'm side lined til tomorrow. All this fuzziness is playing Havoc with my technicals. GJ has a nice support around the 181.50 mark I'm hoping for another bounce off that level. Might have missed it already! However, if it touches again, I may take a small long position.

Kudos to you though! I can't trade these small time frames, I just end up chewing my lip and pulling my hair out! I am excited to try your method. Always looking to improve my trades!

I look forward to hearing from you later, hope you have a good day!
  • #5,828
  • May 6, 2015 5:10am May 6, 2015 5:10am
I hear what you're saying guys and have no argument, I do chop and change from day to dfay and that is part of the problem I'm sure...

Have a good day following HRLY trends , then its all about that, next day have a good day orphan hugging and its all about that..

Guess I've got to make my mind up just what I'm going to do for the strategy, but then theres half the problem. I'm just not a rule follower, in life or trading...

The other thing of course is I fall fowl of the two of the biggest fears in trading. The fear of missing out and the fear of leaving something on the table. Kill me everytime...

Personal battles I've got to fight for myself, no one else can help me with those demons...

Vantage, Pres78 , martin and now you guys, all try to tell me the same thing.... Get some rules.....Get some discipline... Get a life!!!!!!
Feel the Fear and do it anyway!!!
  • #5,829
  • May 6, 2015 5:52am May 6, 2015 5:52am
Quoting clivepackham
I hear what you're saying guys and have no argument, I do chop and change from day to dfay and that is part of the problem I'm sure... Have a good day following HRLY trends , then its all about that, next day have a good day orphan hugging and its all about that.. Guess I've got to make my mind up just what I'm going to do for the strategy, but then theres half the problem. I'm just not a rule follower, in life or trading... The other thing of course is I fall fowl of the two of the biggest fears in trading. The fear of missing out and the fear...
we need someone with an excel spreadsheet tallying up the numbers! haha
i'm enjoying seeing where this thing is gonna go. got the entries (if i have the discipline to wait for the correct cci oversold/overbought). working on exits. i'm still leaning towards taking a % off at X number of pips and just watching what the rest does with a trailing stop loss. the question is: what numbers will work in the long run for good risk/reward concerning % risked and when/how much profit is taken . . . if someone has a hard and fast rule that is consistent, i'm all ears.
  • #5,830
  • May 6, 2015 6:14am May 6, 2015 6:14am
Quoting clivepackham
{quote} Hi Pres78 Yea I see what you mean did you get it??? {image} Heres my feeble efforts later which resulted in nowt, I found price action very jerky today and didn't just go and leave my entries...some days they do and some days they don't , just the way it is I guess... better luck next time.... EDIT:: Even looking at that perfect entry do you see that green candle about 10 mins later??? That would of got me out for nowt....
Why was it perfect. Dare I say it have a look at my post earlier http://www.vantagefx.blogspot.com/20...-of-range.html with the most important the agreement across the board on gbp weakness. These are 5 min charts I use 20lwma to = 1 min 100lwma but they have 100lwma as I just flipped over from 1 min to get pics. On my 5 min charts I use the stoch 20 20 1 = W% R 20. Love it above 50 level for buy and below for sell. Is it really necessary if you are strict with above/below ma probably not.

Clive the only rule I suggest you consider is something on agreement. Could be say ej/gy to agree, gbpaud/euraud, gbp/aud + gbp/nzd (when aud and nzd agree seems to give good trades) or say 4 in TT. If you have agreement like gbp weakness this morning then you can comfortably target the bigger trades.
  • #5,831
  • May 6, 2015 6:24am May 6, 2015 6:24am
Quoting bapakjason
{quote} we need someone with an excel spreadsheet tallying up the numbers! haha i'm enjoying seeing where this thing is gonna go. got the entries (if i have the discipline to wait for the correct cci oversold/overbought). working on exits. i'm still leaning towards taking a % off at X number of pips and just watching what the rest does with a trailing stop loss. the question is: what numbers will work in the long run for good risk/reward concerning % risked and when/how much profit is taken . . . if someone has a hard and fast rule that is consistent,...
http://2ndskiesforex.com/trade-signa...u-should-know/

Check out this post from Chris Capre. Gives great data on what risk you have of blowing your account based on factors such as % risk and average R:R. Shows that you don't need to be perfect to keep your account alive and well. Making money now that's a far different story.

Forex is a business. Businesses need plans to succeed and need to be prepared to deal with good and bad days. Days in the red don't equate to a failed business as all great businesses still have those days. Ending the month, quater, year in the green is what matters most. Make a plan and stick to it if it works. One bad day doesn't mean the plan doesn't work especially in FX. The markets are so fluid and move so differently from day to day. Nice smooth trending days and pairs today will be ranging horrible moving tommorow.
Today's zone = Tomorrow's opportunity!
  • #5,832
  • May 6, 2015 7:16am May 6, 2015 7:16am
Quoting pres78
{quote} http://2ndskiesforex.com/trade-signa...u-should-know/ Check out this post from Chris Capre. Gives great data on what risk you have of blowing your account based on factors such as % risk and average R:R. Shows that you don't need to be perfect to keep your account alive and well. Making money now that's a far different story. Forex is a business. Businesses need plans to succeed and need to be prepared to deal with good and bad days. Days in the red don't equate to a failed business as...
nice. thanks.
  • #5,833
  • May 6, 2015 7:22am May 6, 2015 7:22am
Quoting clivepackham
I hear what you're saying guys and have no argument, I do chop and change from day to dfay and that is part of the problem I'm sure... Have a good day following HRLY trends , then its all about that, next day have a good day orphan hugging and its all about that.. Guess I've got to make my mind up just what I'm going to do for the strategy, but then theres half the problem. I'm just not a rule follower, in life or trading... The other thing of course is I fall fowl of the two of the biggest fears in trading. The fear of missing out and the fear...
clive do you want to make money? really? then you must have rules and follow them. I have been trading for 14 yrs and before I click the button and am in a trade fear is present in every trade. it doesn't go away even when your making a living doing it. FEAR is now a good thing it helps you not be GREEDY. develop a plan on how you will make a living doing trading or just walk away and stop wasting your time
  • #5,834
  • May 6, 2015 11:19am May 6, 2015 11:19am
Quoting Divergence
{quote}clive do you want to make money? really? then you must have rules and follow them. I have been trading for 14 yrs and before I click the button and am in a trade fear is present in every trade. it doesn't go away even when your making a living doing it. FEAR is now a good thing it helps you not be GREEDY. develop a plan on how you will make a living doing trading or just walk away and stop wasting your time
Hi Harold

Thanks for the wise words had a chat with my mentor Martin today and he's saying the same thing. So i'm gonna get some real money going and build it everyday then banking etc will be painfully obvious and days like today will be few and far between, when I simply waste perfectly good entries with no profit. total bloody madness if it was real money...

You're quite right gotta start treating it as a business if I ever want to make a living from it...
Feel the Fear and do it anyway!!!
  • #5,835
  • May 6, 2015 11:42am May 6, 2015 11:42am
Clive have you ever looked at range bars instead of 1 minute bars it will smoothe things out and guve you entry and stop clearly
  • #5,836
  • May 6, 2015 11:53am May 6, 2015 11:53am
Quoting Divergence
Clive have you ever looked at range bars instead of 1 minute bars it will smoothe things out and guve you entry and stop clearly
I've looked at Renko charts , whats the difference between the two???
Feel the Fear and do it anyway!!!
  • #5,837
  • May 6, 2015 12:36pm May 6, 2015 12:36pm
Range bars are a set number renkos not
  • #5,838
  • May 6, 2015 3:00pm May 6, 2015 3:00pm
Quoting clivepackham
{quote} I've looked at Renko charts , whats the difference between the two???
Renko bar size 5 pips: a new bar will be created if the prices moves more than 5 pips in one way
Range bars size 5 pips: a new bar will be created if the prices will move 5 pips ---> 2 pips up +3pips dow= new range bar
  • #5,839
  • May 6, 2015 3:08pm May 6, 2015 3:08pm
I maybe missing something a range bar of say 10 pips a new bar opens shen present bar goes 11 pups
  • #5,840
  • May 6, 2015 4:39pm May 6, 2015 4:39pm
Quoting Vantage
{quote} Why was it perfect. Dare I say it have a look at my post earlier http://www.vantagefx.blogspot.com/20...-of-range.html with the most important the agreement across the board on gbp weakness. These are 5 min charts I use 20lwma to = 1 min 100lwma but they have 100lwma as I just flipped over from 1 min to get pics. On my 5 min charts I use the stoch 20 20 1 = W% R 20. Love it above 50 level for buy and below for sell. Is it really...
Do you have another currency meter than the ttindy? On which tf do you analyse if a currency is weak or strong?
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