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Trade with 60

  • #21
  • Aug 31, 2015 2:13am Aug 31, 2015 2:13am
closed GU long, pending short set

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tradewith60
  • #22
  • Aug 31, 2015 4:31am Aug 31, 2015 4:31am
Hi 60

Thanks for the thread and liking the style of trading.
The question is how do you find the high and the low with accuracy ?
Do you take the news into consideration for the day ?
Thanks in advance

Harry
  • #23
  • Aug 31, 2015 4:39am Aug 31, 2015 4:39am
Quoting HarryV
Hi 60 Thanks for the thread and liking the style of trading. The question is how do you find the high and the low with accuracy ? Do you take the news into consideration for the day ? Thanks in advance Harry
Hi 'Harry, I don't consider news except NFP and rate announcements.

The high and low of the day is nearly always in London and NY sessions, the secret is not to try and be right, the secret is making more when you are right than when you are wrong. We are all guessing, it's just an odd's and probabilities game but you have to be methodical and let the odds play out. Unfortunately people want instant success and will usually quit a simple idea before the numbers start to swing in their favour. Most people will never make the mental leap to the mindset that is required to make it as a trader, you have to have a growth mindset, you have to realise that intelligence will not win this game.... So, if it is the high right now, take the trade, if it is the low right now, take the trade.. and let the odd's play out
tradewith60
  • #24
  • Aug 31, 2015 4:44am Aug 31, 2015 4:44am
a growth mindset, don't obsess with results, obsess about the process - mindset affects performance

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tradewith60
  • #25
  • Aug 31, 2015 5:11am Aug 31, 2015 5:11am
Thanks for that video 60 really gave me perspective ........
When taking your London trade and its in your favor, do you start looking in the New York session to exit or stay in or do you monitor through out the day or
do you set a tp based on price action ?
  • #26
  • Aug 31, 2015 5:14am Aug 31, 2015 5:14am
we are small fish in the market, we can not decide where price will move, only big orders in the market will make it move, we have to understand the mechanics of how big orders are entered into the market, it is a different process. If clients want to place a big order to sell then liquidity needs to be found to fill that order, if it is not available at the current price then it will need to be moved to a higher price to sell or a lower price to buy - in other words if price is not falling from the current level then it will need to go higher first... we just need to follow this process methodically and then piggy back the big orders. Most traders will try and pre-determine these prices, sure you will be right some of the time but you are still essentially guessing and adopting the wrong mindset -

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tradewith60
  • #27
  • Aug 31, 2015 5:30am Aug 31, 2015 5:30am
Quoting HarryV
Thanks for that video 60 really gave me perspective ........ When taking your London trade and its in your favor, do you start looking in the New York session to exit or stay in or do you monitor through out the day or do you set a tp based on price action ?
I look to exit a short from the high of the day at a new low for the day - when a valid long set's up I will manage my short and vice versa.

If a short from the high of the day fails then I will reverse to the new high also... I will post one when it happens
tradewith60
  • #28
  • Aug 31, 2015 5:58am Aug 31, 2015 5:58am
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tradewith60
  • #29
  • Aug 31, 2015 6:03am Aug 31, 2015 6:03am
Gu short from the high has made a new low - hedge long pending set - let it play out

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tradewith60
  • #30
  • Aug 31, 2015 8:14am Aug 31, 2015 8:14am
Hi 60

I would be interested on what you have to offer.
Please advise
Many thanks
Harry
  • #31
  • Aug 31, 2015 8:25am Aug 31, 2015 8:25am
Quoting HarryV
Hi 60 I would be interested on what you have to offer. Please advise Many thanks Harry
follow this thread Harry and I will post some links for more information later this week
tradewith60
  • #32
  • Aug 31, 2015 8:46am Aug 31, 2015 8:46am
Hey 60 we r waiting for your response in H4power thread.
have u changed the style of trading.
are u=your methods dont work as in H4 thread.
you are the creator of your own destiny-Shivyog
  • #33
  • Aug 31, 2015 9:04am Aug 31, 2015 9:04am
Quoting lsolanki
Hey 60 we r waiting for your response in H4power thread. have u changed the style of trading. are u=your methods dont work as in H4 thread.
sorry Isolanki, I dont seem to get notifications anymore now I have been moved to commercial.

This is the same as H4 power, remember SR levels are the places where price turns around, here is a way to find the resistance and support for the day by looking for price to turn around at new highs and low for the day - it's just a different method.
tradewith60
  • #34
  • Aug 31, 2015 9:36am Aug 31, 2015 9:36am
the long side of the hedge stopped out, the short is still running.

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tradewith60
  • #35
  • Aug 31, 2015 10:37am Aug 31, 2015 10:37am
zero discretion trading, only trading from the low or high (or failure at those levels)

GU today +41, -32 and +54 running

it's just about being methodical and letting the odds play out, if the market moves you have the best opportunity entering at extreme's. Use SR if you prefer or just use price

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tradewith60
  • #36
  • Aug 31, 2015 10:38am Aug 31, 2015 10:38am
Quoting 60minuteman
closed GU long, pending short set {image}
Hi 60,

Thanks for your sharing.

I guess you won't trade this system if there was a trend in asian time, right? If so, I feel little bit confused about this GU trade since it looks like an asian trend before london open. Thanks.

Jay
  • #37
  • Aug 31, 2015 10:45am Aug 31, 2015 10:45am
this is the best bit of free education on the internet, people who think some combination of technical elements will be the answer are highly unlikely to succeed, you have to change how you think about trading - the uncertainty will always be there, how you deal with it will be the deciding factor - I absolutely love Denise Shull's work, it is priceless

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tradewith60
  • #38
  • Aug 31, 2015 10:48am Aug 31, 2015 10:48am
Quoting jayhong
{quote} Hi 60, Thanks for your sharing. I guess you won't trade this system if there was a trend in asian time, right? If so, I feel little bit confused about this GU trade since it looks like an asian trend before london open. Thanks. Jay
GU and EU (in fact any pairs that are a Euro currency against the dollar) will 9 times out of 10 print their high AND low for the day during the London and NY sessions, so I can sleep through Asia and then just fish for the turning points trying to find the extreme of the day - I use a methodical repetitive technique to find those points. These points give me the best opportunity to make money everyday.
tradewith60
  • #39
  • Aug 31, 2015 10:52am Aug 31, 2015 10:52am
EU -23 on the long and +25 on the short still running - you won't win everyday but you just come back and keep repeating - the odds and probabilities of a period of trades are in your favour because you are trading logic, not some meaningless pattern or candle shape - it is the location that matters.

p.s the EU has not printed a new low in london or NY yet, that is unusual so I will hold my short - because the odds say it often will...

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tradewith60
  • #40
  • Aug 31, 2015 11:01am Aug 31, 2015 11:01am
Quoting 60minuteman
{quote} GU and EU (in fact any pairs that are a Euro currency against the dollar) will 9 times out of 10 print their high AND low for the day during the London and NY sessions, so I can sleep through Asia and then just fish for the turning points trying to find the extreme of the day - I use a methodical repetitive technique to find those points. These points give me the best opportunity to make money everyday.
Thanks for your reply. sorry that I did not clearly express myself.

I mean that will you consider the pattern (say sideway or trend) in asian time for this system setup? I also follow your facebook and I remember you mentioned "Asian range...here...non trendy H1 price action" in your facebook vedio (a re-cap of Tuesday on GU). So I thought you would not trigger the trade when there is trend in aisan time.

Jay
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