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Quantum London Trading

Quoting Masterrmind
{quote} I scored +82.1 pips from 6 longs too. {image} Nice and easy! Masterrmind.........
Very nice, I think we snagged the same trades. I use setting 300, you?
Quoting courtneywild
{quote} Very nice, I think we snagged the same trades. I use setting 300, you?
Yes on GU the 300 setting has been working well.

Nothing wrong with 325 of course!

Masterrmind.........
Master your Mind then Master your Trades
FTMO_200K_C1 All Time Return: -2.1%
  • Post #483
  • Quote
  • Edited at 5:32am Aug 14, 2015 5:15am | Edited at 5:32am
Setting 300 - over 3000 pips draw down and almost 60 positions open... even at $0.10 per pip (with no increasing the lots on each position) that would be $18,000 draw down... I realise you'd be taking these selectively at the appropriate times, but even so, there would be thousands of dollars of drawdown in this situation.

Sorry I worked it out wrong... it's been a long day. It would be ~$300 draw down... My apologies.
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Quoting zortan
{quote} Nice until you get a day when there's no opposing colour boxes and you're thousands of pips down the toilet.
Hey Zortan,

gofishin made a good point that I see as very important to every System you trade. here is his Quote:
" This system works when you use your head and match it to your trading style."

Don't you think?

D.
Quoting pierre23
Setting 300 - over 3000 pips draw down and almost 60 positions open... even at $0.10 per pip (with no increasing the lots on each position) that would be $18,000 draw down... I realise you'd be taking these selectively at the appropriate times, but even so, there would be thousands of dollars of drawdown in this situation. {image}
hi how $ 18,000 DD. 3000 pips DD so 3000x $0.10= $ 300.00
Quoting wealthpro
{quote} hi how $ 18,000 DD. 3000 pips DD so 3000x $0.10= $ 300.00
Yes, I had already edited my original post
Quoting pierre23
Setting 300 - over 3000 pips draw down and almost 60 positions open... even at $0.10 per pip (with no increasing the lots on each position) that would be $18,000 draw down... I realise you'd be taking these selectively at the appropriate times, but even so, there would be thousands of dollars of drawdown in this situation. Sorry I worked it out wrong... it's been a long day. It would be ~$300 draw down... My apologies. {image}
Hi pierre!
Exactly for what you are pointing I'm feeling better using a faster setting, and using a second (even more faster) signal to get out early.
I prefer less pips and not get stuck in long rows.
And like other people said before, it is always better don't take trades blindly.
Quoting Masterrmind
{quote} Yes on GU the 300 setting has been working well. Nothing wrong with 325 of course! Masterrmind.........
What's your take on not re-entering the market? I would not take a reverse but stick with the first direction. Looking the latest signal its a nice clean trade. And the exit signal produced 37 pips. Plus the ATR is 108 and so far its traveled 38
Could it be feasible up until a certain time of day? I'm aware of getting caught in a long sideways drag.
Interesting how the weekly piv is like a magnet.
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Quoting courtneywild
{quote} What's your take on not re-entering the market? I would not take a reverse but stick with the first direction. Looking the latest signal its a nice clean trade. And the exit signal produced 37 pips. Plus the ATR is 108 and so far its traveled 38 Could it be feasible up until a certain time of day? I'm aware of getting caught in a long sideways drag. Interesting how the weekly piv is like a magnet. {image}
Keep your eyes on the pivots not only the weekly but the monthly and the mid points (magnets at times they certainly are!).

It's the last trading day of the week and if you are 'comfortably up' in profit then leave it at that!

The risk you take is getting caught up in several trades opened via a short-lived momentum in the market only to be left in a flat ranging period half way through NY session....... then you might have to carry your trades over the weekend and if you are sitting on several trades when the market reopens on Monday or Sunday (depending whereabouts in the world you live) after bad news during the weekend then you could easily be facing a gap opening that has your trades far worse off than you would have thought possible.

If you have a few trades on late in NY session then you may want to close out the ones in profit and decide what to do about the remaining ones.

Choice is yours to make but take a good long look at your charts, any news releases and factor it all into your final decision!

Usually if you are chasing a few more dollars on the last trading day of the week then apply a different trading strategy for grabbing a few quick pips at a relatively higher lot size.

You just need to weigh up all the factors that you can and then make a decision.

Best choice usually is to NOT let trades ride over the weekend as it may increase your risk.

I know I have done it but prefer not too!

ps. could probably write a book on this subject alone there is so much that could be said......

Masterrmind............
Master your Mind then Master your Trades
FTMO_200K_C1 All Time Return: -2.1%
Hi mer071898,

We like your "Quantum London Trading" , it is amazing , How long have you using this system . :-)

Yours,

Rod
Quoting Masterrmind
{quote} Keep your eyes on the pivots not only the weekly but the monthly and the mid points (magnets at times they certainly are!). It's the last trading day of the week and if you are 'comfortably up' in profit then leave it at that! The risk you take is getting caught up in several trades opened via a short-lived momentum in the market only to be left in a flat ranging period half way through NY session....... then you might have to carry your trades over the weekend and if you are sitting on several trades when the market reopens on Monday or...

Thanks for taking the time to write that. I've now added the monthly pivots. Both weekly and monthly mid pvs also. Very helpful.
Yes I don't like holding trades over the weekend. Done that before! I think I will focus on the first batch of trades and resist re-entry. I'm at UK +1 hour.

I am also not entering .01 .02 .03 .04 lots and as many trades as indicated.
I am entering all trades at 0.05 and will only take up to the first 10 maximum. I see some have 15 16 plus... too much for me.

Also, I put a 200 pip SL on each trade. It's probably irrelevant, but I feel more comfortable with a SL lurking somewhere in the distance.

Not sure why some posts refer to many thousands of pips lost, any system could give you that. Even with the Qtm exit signal I would still cut losses before they got anywhere near that level. All positions have to be managed otherwise you may as well EA it and face the consequences. Not for me.
Interesting thread.
Quoting courtneywild
{quote} Thanks for taking the time to write that. I've now added the monthly pivots. Both weekly and monthly mid pvs also. Very helpful. Yes I don't like holding trades over the weekend. Done that before! I think I will focus on the first batch of trades and resist re-entry. I'm at UK +1 hour. I am also not entering .01 .02 .03 .04 lots and as many trades as indicated. I am entering all trades at 0.05 and will only take up to the first 10 maximum. I see some have 15 16 plus... too much for me. Also, I put a 200 pip SL on each trade. It's probably...
You are certainly thinking the right way!

SL is crucial however a trader justifies using one, ie mental stop, hard stop, equity hidden stop in an EA or script but there needs to be focus!

There will always be opportunities in the market the next day BUT you need money in your trading account to turn this into a reality.... let those DD trades go too far and you may not have a lot to use.

EAs and non-lagging indicators are simply tools for use by the trader they are never the decision maker.

A 200 pip hard SL sounds good but it is relative of course with a dynamic approach to SL placement based on market activity and chart analysis being the better.

Masterrmind...........
Master your Mind then Master your Trades
FTMO_200K_C1 All Time Return: -2.1%
Working on 5m with selective entry and since today is friday and want all trades closed before weekend, closed all on support line.
So far, good results.
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Quoting Masterrmind
{quote} You are certainly thinking the right way! SL is crucial however a trader justifies using one, ie mental stop, hard stop, equity hidden stop in an EA or script but there needs to be focus! There will always be opportunities in the market the next day BUT you need money in your trading account to turn this into a reality.... let those DD trades go too far and you may not have a lot to use. EAs and non-lagging indicators are simply tools for use by the trader they are never the decision maker. A 200 pip hard SL sounds good but it is relative...
Excellent, thank you. No way would I let DD run away. Cut your losses and let the profits run is not a new philosophy yet many seem to forget it.
.05 @ 200 pips SL is a £64 loss, so 200 is a disaster prevention measure and dependent on the history of performance going forward I could well tighten it to 100 as per the average daily range of 103 currently.

I've never traded the 1min chart before and its turning out to be quite interesting.
I notice on a 1min chart a move looks huge until you measure it, and its can be like 25 pips, so its deceptive. however when you have six or so trades on that tiny 20 pip move it can be a decent win (or loss of course). Hardly noticeable on the daily.

I see the last bull run up to .56455 has retraced and bounced right off that weekly piv yet again. And just reversed of it again as I type. Pivots are useful!

Have a great weekend.
Quoting Matraguna
Working on 5m with selective entry and since today is friday and want all trades closed before weekend, closed all on support line. So far, good results. {image}
Quoting courtneywild
With this system, I like the fact you can be out of the market pretty early and get on with life. Entered and closed in 63 bars (mins). And being out of the market lowers the risk factor! Day two and a good result of +141 pips {image}
Nice way to adapt with multiple settings.
Quoting zortan
{quote} Nice until you get a day when there's no opposing colour boxes and you're thousands of pips down the toilet.
Already been pointed out already, READ THE THREAD.
Results from today:

Trade 1= +12 pips
Trade 2= +14 pips
Trade 3= +15 pips
Trade 4= +17 pips

Total= +58 pips
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Quoting courtneywild
{quote} What's your take on not re-entering the market? I would not take a reverse but stick with the first direction. Looking the latest signal its a nice clean trade. And the exit signal produced 37 pips. Plus the ATR is 108 and so far its traveled 38 Could it be feasible up until a certain time of day? I'm aware of getting caught in a long sideways drag. Interesting how the weekly piv is like a magnet. {image}
If you are using other technical indications and you feel it's a sound decision, by all means take the trade. Again, it's up to the trader's discretion. But if you are sticking with the original premise, no, we do not enter any more trades after the first one closes.
Quoting Masterrmind
{quote} You are certainly thinking the right way! SL is crucial however a trader justifies using one, ie mental stop, hard stop, equity hidden stop in an EA or script but there needs to be focus! There will always be opportunities in the market the next day BUT you need money in your trading account to turn this into a reality.... let those DD trades go too far and you may not have a lot to use. EAs and non-lagging indicators are simply tools for use by the trader they are never the decision maker. A 200 pip hard SL sounds good but it is relative...
We obviously all know DD is a concern on this thread. Try using this on a pair with a positive swap rate on a Daily chart and utilize the positive swap rates to your advantage. I'm testing Aus/Usd and Nzd/Usd (more for the "Usd" stability) and it's looking good there. You have to use a setting like 1500 to really lower the trade count because the DD could potentially be huge. But on a Daily with a higher setting, you can close out smaller runs more often. I'll show some examples later on today (looks very promising).
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