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Trading is as simple as ABCD

  • #5,921
  • May 11, 2015 6:09am May 11, 2015 6:09am
Quoting clivepackham
{quote} ...one thing I will do later tonight when I get home is checkout what happened to my trades after I closed them?? Will be interesting to see how they would of worked out holding on the 120HMA??? Might be better to bank half hold half, time will tell..
NOOOOOOO!! STOP messing with it!! You just said you were going to follow this pattern for the entire week. DO THAT! Do not look at anything else! It does not matter! Pick your poison and drink! You are going to go mad screwing around with this.

Seriously. With pen and paper (notice I said pen and not pencil!), write out your strategy. Claim it! DO IT!

The problem is that you will always find trades that went further, ALWAYS! Who cares? Your mind will naturally shy away form all the BE you have hit though. You will vex over the one or two that would have went far. That's natural. It is not your strategy! Wal-Mart and high end stores have different strategies, but both can survive. Wal-Mart does not want to be like a high end store, so they do not. Your strategy is your business plan. Follow it for at least the week without even considering how far the trade could have gone.

Just my opinion...
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #5,922
  • May 11, 2015 6:29am May 11, 2015 6:29am
[quote=capstone;8255187]{quote} NOOOOOOO!! STOP messing with it!! You just said you were going to follow this pattern for the entire week. DO THAT! Do not look at anything else! It does not matter! Pick your poison and drink!

Hi Clive.
Sound advice from Capstone. Stick to your strategy for the week. That will give you a better balanced picture.
I have found that fooling around after I have banked my quota 95% of the time ends up in me losing my profits banked. Then you go nuts trying to catch up again. At this point disaster strikes and I feel like giving up trading before beating myself in the head with a blunt instrument.
STICK TO YOUR PLAN CLIVE!

Pieter
  • #5,923
  • May 11, 2015 6:32am May 11, 2015 6:32am
Quoting capstone
{quote} NOOOOOOO!! STOP messing with it!! You just said you were going to follow this pattern for the entire week. DO THAT! Do not look at anything else! It does not matter! Pick your poison and drink! You are going to go mad screwing around with this. Seriously. With pen and paper (notice I said pen and not pencil!), write out your strategy. Claim it! DO IT! The problem is that you will always find trades that went further, ALWAYS! Who cares? Your mind will naturally shy away form all the BE you have hit though. You will vex over the one or two...
Hi Cappers

Thanks man you're right....

I gotta stay focused on what I'm doing so as not to confuse my trading mindset.. I found that easy today to bank those trades because over the weekend I had collected enough evidence that it would work and that in fact holding on 1 minute time frames does not work, well not with me moving to BE so quickly, which of course is a major part of this strategy, get the risk off the table asap or sooner if possible...

Funny enough those were the very words that went through my head when I was contemplating holding my trades this morning...

NOOOOOOOO!!!!STOP messing with it!! Just bank the goddam bloody money......

And you're right who gives a monkeys **** what it does after I've banked???

My demo account which I reset to $250 to emulate my live account when I open it is at $398.19 today so not a bad start is it???

Nope enough said lets just stick to one thing this week then go from there...

Thanks Tony keep on sharpening....
Feel the Fear and do it anyway!!!
  • #5,924
  • May 11, 2015 6:35am May 11, 2015 6:35am
Quoting Pipglutton
Quoting capstone
{quote} NOOOOOOO!! STOP messing with it!! You just said you were going to follow this pattern for the entire week. DO THAT! Do not look at anything else! It does not matter! Pick your poison and drink! Hi Clive. Sound advice from Capstone. Stick to your strategy for the week. That will give you a better balanced picture. I have found that fooling around after I have banked my quota 95% of the time ends up in me losing my profits banked. Then you go nuts trying to catch up again. At this point disaster strikes and I feel like
...

Hi Pieter

Yep i will thanks for your support, I'm desperate to prove this works and take it "live" as soon as I can, then we'll see some fireworks..

Nope thanks Pieter will stick to my plan, surely even I can do that for one week????
Feel the Fear and do it anyway!!!
  • #5,925
  • May 11, 2015 6:44am May 11, 2015 6:44am
Quoting clivepackham
{quote}{quote} Hi Pieter Yep i will thanks for your support, I'm desperate to prove this works and take it "live" as soon as I can, then we'll see some fireworks.. Nope thanks Pieter will stick to my plan, surely even I can do that for one week????
Hi Clive.
I have dwindled down my live a/c to approx. $200.00 For the last 3 weeks I have traded only demo.
What do you say we both start trading the 200 live accounts next week in tandem and see what happens?
This is NOT A CHALLENGE cause I know I will get my n*ts handed to me on a plate.
It's just trading with somebody to encourage each other and suggest trades as we go along. Trading live is not for children as you know.
Maybe even a couple more guys to join in....?
Your thoughts?
  • #5,926
  • May 11, 2015 6:49am May 11, 2015 6:49am
I know I would choose the easiest path for what suits me. Just pick one path for one week.
Cheers,
Kobie[/quote]

Kobie... Like in South African "Kobie" ????
  • #5,927
  • May 11, 2015 7:12am May 11, 2015 7:12am
Quoting Pipglutton
{quote} Hi Clive. I have dwindled down my live a/c to approx. $200.00 For the last 3 weeks I have traded only demo. What do you say we both start trading the 200 live accounts next week in tandem and see what happens? This is NOT A CHALLENGE cause I know I will get my n*ts handed to me on a plate. It's just trading with somebody to encourage each other and suggest trades as we go along. Trading live is not for children as you know. Maybe even a couple more guys to join in....? Your thoughts?

You know I think the whole secret to this 1 minute trading is to NOT think you have to be in the market the whole time. Its very easy to think 1 minute signals occur every 5 mins but in fact the opportunities are there for a fairly brief time when price is moving. The rest of the time its just ranging.

The secret is to wait for our TTindy to take off and some strength or weakness in a currency to appear then its fairly safe to trade that currency..

Biggest problem with 1 minute trading is over trading....

We have to wait for our setups then jump on them like a mongoose on a Cobra before it can bite you back...

Only took 5 trades this morning but they were the right ones...at the right time...won't always be of course but the secret is to wait till price is moving then make your choice and jump on board..

Waiting for NYO to get started and then have a look whats moving. This pre-NYO period is similar to Frankies hour , a bit of a no trade zone until it settles down..

Well worth looking at the first pair to reverse just after the NYO and see what we can get.

Got a busy afternoon at work so might struggle today..
Feel the Fear and do it anyway!!!
  • #5,928
  • May 11, 2015 10:08am May 11, 2015 10:08am
Just managed to get some time to have a look at whats going on and can see that GBPNZD has been rushing up the page nearly all day, so its gotta be worth a go when it turns over like this, mind you I was a bit late to the ball the best entry was about 10 pips earlier so might not survive any pullbacks here , but at BE so its got two choices, draw or a win...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm1.png Size: 54 KB
Feel the Fear and do it anyway!!!
  • #5,929
  • May 11, 2015 10:16am May 11, 2015 10:16am
Ha Ha forgot myself and thought I'd hold for the reversal so another BE!!!!! When will I learn I don't know where the markets going....

Anyway lining up for a nice sell now as a LL followed by a LH here will do me nicely...

But will I bank it is the question????
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm1.png Size: 55 KB
Feel the Fear and do it anyway!!!
  • #5,930
  • May 11, 2015 11:23am May 11, 2015 11:23am
Quoting clivepackham
Ha Ha forgot myself and thought I'd hold for the reversal so another BE!!!!! When will I learn I don't know where the markets going.... Anyway lining up for a nice sell now as a LL followed by a LH here will do me nicely... But will I bank it is the question???? {image}
Stay out of the way of those moving trains ... They'll run you right over.
Today's zone = Tomorrow's opportunity!
  • #5,931
  • May 11, 2015 3:51pm May 11, 2015 3:51pm
Quoting pres78
{quote} Stay out of the way of those moving trains ... They'll run you right over.

Very true Pres78 but luckily for me my sell stop didn't get hit that time, but it does make you wander doesn't it??? I thought that GBPNZD was looking all ripe for a quick reversal after flying up the page all day for over 300 pips I thought to myself, time for a reversal...Surely I thought we can't get a much more overbought market than that , can we????

But we all know the trouble we get in when we think we know where the markets going don't we???? All too many times on this thread I've prophercised where price is going, to be, all too quickly shot down in flames...


Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm1.png Size: 55 KB


So from that near perfect reversal setup it then flew up the page another 100 odd pips!!! What can I say??? Just trade the price and forget about thinking about it or assuming for one second that we can actually work out where price is going next.. just trade the setups and what will be will be...

But one thing is for sure just trade with the trend until it ends....
Feel the Fear and do it anyway!!!
  • #5,932
  • May 12, 2015 12:27am May 12, 2015 12:27am
I feel I'm getting very close to a good system here, not there yet but close...

I know I'm going to send everyone mad here constantly tinkering with an already powerful strategy but I'm not one for giving up on my original goal. To enter on the 1 minute charts with extremely low risk, get that risk off the table within 3 minutes and then hold for the bigger runs.. That to me is the ultimate goal here and I'm sorry but I'm gonna keep working towards it...

Just have a look at this lovely chart below of NZDJPY just look at how cool that 120HMA looks....


Attached Image (click to enlarge)
Click to Enlarge Name: beautiful trades off the 120HMA.png Size: 55 KB


Now have a look at this AUDJPY chart and see how the 120HMA gives us our ABCD move from the higher timeframe...

Attached Image (click to enlarge)
Click to Enlarge Name: How to trade the 5 min ABCD move trading the 1 minute chart.png Size: 53 KB


Wouldn't it be nice to catch that higher timeframe CD run from our low risk 1 minute entry???

So how would we identify it???

If BC is smaller than AB then theres every chance the next turn up on the 120HMA is going to be a CD leg equal to the AB leg..

So the secret is to take those first two CCI signals after the turn and I'm thinking bank half on each CCI signal then hold the whole position until the 120HMA turns back down...

wouldn't need too many of them in a week to have a very profitable system would we???

Just a thought....
Feel the Fear and do it anyway!!!
  • #5,933
  • May 12, 2015 1:00am May 12, 2015 1:00am
Lost 8 on this a minute ago so trying again,
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 65 KB
Feel the Fear and do it anyway!!!
  • #5,934
  • May 12, 2015 1:03am May 12, 2015 1:03am
Knocked me off at BE so lets give it one more go...3rd time lucky maybe??
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 61 KB
Feel the Fear and do it anyway!!!
  • #5,935
  • May 12, 2015 1:22am May 12, 2015 1:22am
I gave that another go but the price was leaping about far too much for me so just thought GTFO asap and took a small loss of 3 pips in the process , but when its bouncing about like that its just not worth hanging on far too risky for me...

I like my price action to be smooth, soon as you see that jumping about stuff just GTFO...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 67 KB


Same old thing really Frankie is basically when Frankfurt and London seem to have a bit of a set too so best to just wait it out and see who comes out on top...

Time for my morning cuppa let them have thier scrap then have another look..
Feel the Fear and do it anyway!!!
  • #5,936
  • May 12, 2015 1:29am May 12, 2015 1:29am
EURCAD has come to the top and price action smoother with a nice break and retest of 1.3525 thought it was worth a shot but nope out for BE...

Attached Image (click to enlarge)
Click to Enlarge Name: eurcadm1.png Size: 53 KB


The lesson has gotta be Frankie Hour is not for me....
Feel the Fear and do it anyway!!!
  • #5,937
  • May 12, 2015 1:38am May 12, 2015 1:38am
Bit of EUR strength so top trender EURCAD is worth a shot....
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadm1.png Size: 53 KB
Feel the Fear and do it anyway!!!
  • #5,938
  • May 12, 2015 1:44am May 12, 2015 1:44am
Nope another BE after being about 10 pips up, I think the lesson is very clear...

Either don't trade Frankies Hour or if you do just grab 10 pips per entry and be done with it as theres generally no follow through...Could just grab a handful here and a handful there to give me my stake for the proper trading in LO...

Better to wait for London to kick in and take control of the direction, then we can expect a bit more ooomph!! In our trades...
Feel the Fear and do it anyway!!!
  • #5,939
  • May 12, 2015 6:12am May 12, 2015 6:12am
Hello Clive

Hope you're having a good day.
Was wondering if you have any updates on your buy/sell scripts or the wave trader-EA you linked a while ago?
  • #5,940
  • May 12, 2015 6:57am May 12, 2015 6:57am
Curious what type of rules you all have related to trading around the news? Ex: minutes before or after? Non-related pairs are ok or not? Etc.

thanks-

jason
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