Split 1: if you don't understand the basic relation between BASE/COUNTER/CROSS you are wasting your time with fancy lagging indicators.
USE what's between your EARS.
Plan your trades - trade your plan Day 1 ka- Ching The split was made 20 hours in advance - and here we are lagging heatmap is finally catching up LOL Choose a job you love, and you will never have to work a day in your life. Trading is about FREEDOM! {image} {image} {image} {image}
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Just trying to decode the hidden clues. Did you buy Split 1 group and sell Split 2?
Those lines on your charts appear to be Demark trend lines. Is that right?
Does any of Demarks strategies fit into your trading plan?
{quote} Just trying to decode the hidden clues. Did you buy Split 1 group and sell Split 2? Those lines on your charts appear to be Demark trend lines. Is that right? Does any of Demarks strategies fit into your trading plan?
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1. Wrong I add them manually. Use what's between your EARS.
2. I trade core pairs, if the cross has enough liquidity and tight spread I might consider only if it meets my RR.
{quote} 1. Wrong I add them manually. Use what's between your EARS. 2. I trade core pairs, if the cross has enough liquidity and tight spread I might consider only if it meets my RR.
{quote} 1. Wrong I add them manually. Use what's between your EARS. 2. I trade core pairs, if the cross has enough liquidity and tight spread I might consider only if it meets my RR.
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Well you are fantastic at drawing trend lines. They are the spitting image of the Demark trend line indicator so you're very accurate! Unfortunately, I need an indicator as as I'm not good at drawing lines.
I think I'll stick with the 7 pairs too for now until I'm qualified to look at crosses - they are def more complex and spreads with my broker are very high. Did you buy Split 1 because it broke the trend line to the up side?
{quote} 1. Wrong I add them manually. Use what's between your EARS. 2. I trade core pairs, if the cross has enough liquidity and tight spread I might consider only if it meets my RR.
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By RR you mean risk to reward ratio ?
The only thing that will make us successful is if we can control ourselves!
{quote} 1. Wrong I add them manually. Use what's between your EARS. 2. I trade core pairs, if the cross has enough liquidity and tight spread I might consider only if it meets my RR.
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Very impressive trading Sam, one of your sayings i often notice, is that we should plan our trades and trade our plans.... but if im not mistaken i know planning a trade is not just based on entries; money managment is also very crucial. So if i may ask, what is the typical stoploss you use, if any, per entry sequence, and how would you generally determine your R:R per entry sequence? Thanks
Lets have some FUN. Pull up a daily chart USDJPY add the following levels, compound and multiply think like a investor not a retail pip chaser.
My SL are varies depending on the currency pair, position and entry. Day, Swing, or Position. SL example below of my position trade.
118.596 Position trade SL.
120.984 went long here
122.275
122.895
124.805
125.953
Typical question where do you get these levels from, is it a fibos, indicator pivot what is it? These are my PPFTD - I have kept data of every trade I have taken for the past 9 years.
Lets have a look at the CORE pairs for today and trade setups before you move on to selecting crosses. Screenshot 4
All the viable trade setups are in front of you, as far entering the trade you have to decide are you aggressive trader or conservative both entries are on the chart.
Guys, I don't want to hijack seller9 thread. I will post share once I have seller permission. Cheers
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OK, no worries, thanks alot.
I'm sure he wants to learn too and this is a very interesting topic. I've always traded using lagging indicators and your right - that heatmap changes AFTER the event! You've missed the bus by then so yes anything you can do to help create a defined plan will be amazing.
I see you opened a basket yesterday based on the daily timeframe or did you drill down to the smaller time frames for entry?
Did you blindly enter ALL the pairs in your splits at a fixed time? I've seen you mention before you put them into two baskets due to correlation so now I understand why you have two baskets.
What made you close out the trades before US lunchtime? is it because momentum is lost by afternoon US time?
I know your watching those pairs in your splits for this week. How do you determine the direction of your buys and sells each day if you trade daily?
What I learned from reading about Demark for example is that when the upper trend line is broken, you buy in that direction and when the lower trend line is broken, you sell in that direction with your take profit at the high of that trend line.
I'm not sure I understand exactly which way you traded your splits from yesterdays session as on the daily chart it was clear price had broken the trend line a few days before, so how do you know price will continue in that direction? Or are you trading the reversal of the move above or below the trend line?
I am trying to make sense of your trading style and I think the above questions will help others learn too.
{quote} OK, no worries, thanks alot. I'm sure he wants to learn too and this is a very interesting topic. I've always traded using lagging indicators and your right - that heatmap changes AFTER the event! You've missed the bus by then so yes anything you can do to help create a defined plan will be amazing. I see you opened a basket yesterday based on the daily timeframe or did you drill down to the smaller time frames for entry? Did you blindly enter ALL the pairs in your splits at a fixed time? I've seen you mention before you put them into two...
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With all due respect lets understand the concept of CORE first before we jump ahead on to trading 500 pairs. I will break it down one at a time. Cheers
Choose a job you love, and you will never have to work a day in your life. Trading is about FREEDOM!
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I was studying Sam's method for a long time in this thread but it just couldn't click for me. I know I was very close to 'getting it', but then summer came along and I just got too damn busy. Now, I'm still in my miserable day job. Along with Seller9's amazing tools and Sam as my inspiration, I'm getting out of this mess. I need to put the time in to get this....
{quote} With all due respect lets understand the concept of CORE first before we jump ahead on to trading 500 pairs. I will break it down one at a time. Cheers
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Sam, thanks so much. Looking forward to your posts.
I won't ass lick too much but your an inspiration to all of us, like another million people have said.
End of Day 2 Ka - Ching Screenshot 6 Keeps on giving lol I had to lock in few more pips before LONDON close. {image}
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Hi Sam, again very nice trading. But i don't think i got a clear answer to my previous question. The entries are not the issue. The issue is how the trade(s) is managed once you pull the trigger. How would you set stop loss, or do you not use any? And how do you calculate your R:R? I think if traders can get an idea of how a pro does it, it would help us immensely, thank you.
{quote} Hi Sam, again very nice trading. But i don't think i got a clear answer to my previous question. The entries are not the issue. The issue is how the trade(s) is managed once you pull the trigger. How would you set stop loss, or do you not use any? And how do you calculate your R:R? I think if traders can get an idea of how a pro does it, it would help us immensely, thank you.
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In case you missed Screenshot attached from my previous post.
Everyone has a different risk tolerance some traders are aggressive some are conservative, each pair carries different momentum spreads, volaitlity, there are no set rules for SL/TP, start thinking out of the box, understand the 4/3 CORE SPLIT.
. Stay GREEN {image}
