Quantum London Trading

Yes, I vary it depending on session traded, chart, news outlook etc.

Less volatile session in terms of pip range mainly = lower value

Sessions with higher DD probability = higher value

Masterrmind...........

Late start into FF entries today due to other business matters.

So my entries today will only start from mid FF session.

Best of trading to everyone and remember its Friday so you may not want to load up with too many trades that could potentially carry you over the weekend and therefore increase your risk.

Good trading,

Masterrmind........... :nerd:

'Morning

Thanks for your ideas, LL, & I see what you are getting at.

My jQuantum template is already a "busy" chart by my standards, so unless I really connect with an indi, I'll leave it off. Here's a chart I posted last month on the Flag Trading the Trend thread.. almost naked & the only thing I'll sometimes add is a 9 period Donchian channel, purely as it makes short-term SR levels easier to see (I trade the Bund very short term, entering on pullbacks in a swing) :



If this project survives my forward test, I will trade it Live full size in NinjaTrader, so I'll either have to pay someone to program the Quantum component into a ZigZag indi or continue to chart in MT4 (but I prefer to trade directly off one chart/platform).

So, to the vital optimum point of entry question... the Quantum as you know is just a zigzag marking new swing HiLo points and we want to take a reversal off these. Either we do it Scott's way, as so well demonstrated by the man himself, MasterMind & others, or look for a single, optimal entry using OB/OS and other swing extreme levels. No offence to them, but I simply cannot make any sense at all of the hugely lop-sided risk reward AND risk of ruin characteristics of the original approach... but then I tend to be like this Robert de Niro character :



The obvious solution is to wait for a Close in the direction of the trade & then a break of the Low of that bar, but that's likely to add 10 - 20 pips to a stop - and I already use very tight stops by most trader's standards (& wish to continue to do so... as long it works). I won't trade an M15 chart with >30 pip stop and prefer 15 - 20 (I'm using 4 ticks on the Bund, but that is a very liquid, specialist market and my entries are invalidated if price moves 4 ticks against me). Spot FX is definitely trickier to trade with small stops as there is no regulated exchange, as in futures, so stops get picked off much more easily and frequently (even comparing EU with 6E).

So either KISS, keeping things pretty much as is, or - I hate to say it - have a fast "trigger chart" to actually time the entry, maybe using range bars. I'm going to set something up in Ninja over the weekend to see if it adds something that is both manageable, effective & simple... but most likely this will just lead to trading currencies with very fast charts, which is not the object of the exercise (which is to trade very simple signals).

Really, it boils down to one simple question : "How to avoid catching a falling knife (and the reverse) ?".

I am impatient to go Live with this, but as I will do it with size, I know patience is essential (I've shot myself in the foot too many times, including recently, testing ideas on Live charts).

LOL!

I only opened 10 of them... The roller coaster wasn't that bad.....All of them closed in Profits.

Fortune favors the brave............ the flip side is not so pretty!

Masterrmind..........

Wish you Mer great weekend.

No Idea why I exit early,got good entries
anyhow positive pips +70

My trade today, little different technique

https://gyazo.com/3b8b67851baa42897dfbf84f56de9ee6.png

Indeed!

I think that some traders are not taking advantage of the lot sizing increment based on Mers' rules... The first few trades are most likely to be shitty if the retracement goes half way, but the bottom trades should have enough Leverage to minimize them losses.

Jay

could be a long day.......

The problem is that I have become aware that there are several traders with sub-10K accounts (real) applying this method and as I have said to them they are best to keep the lot size at a bare minimum if they trade multiple entries without any increment because a large DD period could easily wipe them out.

This is one reason why they may choose not to leverage up since a smaller account would accelerate into DD much faster once incremental lot sizing is added into the mix especially as price drives away from them.

Masterrmind...........

and relax...starting to get a little concerned about the end of the holiday season approaching and how this will work when things pick up a bit. If I remember rightly there was a few scary days early july (potentially catastrophic), and I'm still not sure how to really avoid these other than to minimize number of positions, and take a bit of a hit.

GBPUSD [M1 Chart; 300]

3 short trades out of mid Frankfurt as previously mentioned.



Trade #1 = +37.1 pips
Trade #2 = +36.3 pips
Trade #3 = +34.7 pips

Total = + 108.1 pips.

Very low DD on these trades which is always welcome.

Masterrmind...........

Hope you safely out.

Yup. best to be safe...use small lot. If not, you should have a cut DD% to protect your account. That would be good!

Posting daily results:
(I really prefer no red news days)

(gbp/usd M1)
Slower Signal (Quantum 150)
Faster Signal (Quantum 75)
8 trades from Frankfurt Open to Frankfurt Open +2
Closed half with for total 108 pips
Closed remaining with the slower signal with 13 pips more each one
Total +212 pips.
Not a bad day like yesterday...

Don't trade blindly or don't trade at all red news days...

Hi Mate

May I please have the slow/faster signal indicator...

Thanks in advance

Use an EA or a script with whatever settings you desire.

Just remember though unless its set hard with your broker there will be no protection should the internet connection fail.....

Masterrmind........ :nerd:

Hey,

is the same indicator we all use just the settings are different.
1 x Quantum 150
1 x Quantum 75

so 2 indicators.

D

You are a different machine altogether. It's unbelievable that you using the same system.LOL!