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High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

  • #341
  • Oct 7, 2015 3:17am Oct 7, 2015 3:17am
Quoting myke3295
Nzd/Usd rallied on good #'s. I am focused on Eur/Nzd, watching and waiting for a pullback. Haven't looked into Euro weakness but will do now. {image} {image}
Well Done Myke! Keep your eyes open. There are tons of Opportunities on the Table....

AUD and NZD pairs are on FIRE, and I think that GBP pairs are warming up for that major News Tomorrow (Thursday)....If the language is positive or Hawkish, I believe that we are going to see massive Movement across the board....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #342
  • Oct 7, 2015 5:19am Oct 7, 2015 5:19am
Quoting myke3295
Nzd/Usd rallied on good #'s. I am focused on Eur/Nzd, watching and waiting for a pullback. Haven't looked into Euro weakness but will do now. {image} {image}
Hey mate,

Seems like the bears aren't going anywhere. Thinking of taking the trade after the current 30min candle closes.
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  • #343
  • Oct 7, 2015 9:54am Oct 7, 2015 9:54am
Hi Octavejay,

FYI

Since incorporating your idea and indicators to my trading strategy, my winning percentage has gone up significantly.
although, I am just a newbie (3 months doing demo account), I was able to get around 70-80 percent winning for the last 3 days.
If I can keep this up for 3 months, i will go live by next year.
Thank you..
  • #344
  • Oct 7, 2015 10:04am Oct 7, 2015 10:04am
Quoting Mdu
{quote} Hey mate, Seems like the bears aren't going anywhere. Thinking of taking the trade after the current 30min candle closes. {image}
Caught 11.6 pips. not bad.
  • #345
  • Oct 7, 2015 10:22am Oct 7, 2015 10:22am
Quoting Mdu
{quote} Caught 11.6 pips. not bad.
Good job Mdu I decided to stay out of the trade as I prefer a little more confirmation with the Fib tool. I like more of a 1-3 risk/reward ratio on my trades that way I can exit at 1-2.
  • #346
  • Oct 7, 2015 1:48pm Oct 7, 2015 1:48pm
Quoting findurtalent
Hi Octavejay, FYI Since incorporating your idea and indicators to my trading strategy, my winning percentage has gone up significantly. although, I am just a newbie (3 months doing demo account), I was able to get around 70-80 percent winning for the last 3 days. If I can keep this up for 3 months, i will go live by next year. Thank you..
This is the way to go Findurtalent, and I am very glad that you are seeing some Success so early....The only thing that's going to stop you to further improve is your Emotion, and you need to understand that the Market is driven by emotions and you have to take advantage of yours for the better.....

As traders, the Market rewards us for being Disciplined, so keep following your rules and enjoy the Process....

Jay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #347
  • Edited 2:14pm Oct 7, 2015 2:03pm | Edited 2:14pm
AUD/USD, M5TF Update:

AUD is still strong, but I am trying to take advantage of a short-Term Retracement here based on what I am
seeing on the H4TF. AUD Pairs have been doing great throughout the week, and this is why I was inspired to focus
a little bit more on Weekly Watchlist and observe Market Sentiments on each pair all week.

Honestly, we don't have to treat Forex Trading like a Job, where we are obligated to trade every single day...I just feel like
it's very important to integrate my Motto from now on. "Have an Investor Mindset, but Trade Like an Entrepreneur."

Meaning, before the week starts, we do a quick Top Down Analysis on Higher TF to have a Bird's eye view of where the
market is most likely to go all week, then we take advantage of it every time we get an EntrySignal that matches the Overall
Market Direction....

I have talked about the Difference Between Market Sentiment and Overall Market Direction...It's just make sense now to make
both concepts work for us....

AUD/USD, H4TF:
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AUD/USD, M5TF:
Attached Image (click to enlarge)
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Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #348
  • Oct 7, 2015 3:40pm Oct 7, 2015 3:40pm
Quoting OctaveJay509
AUD/USD, M5TF Update: AUD is still strong, but I am trying to take advantage of a short-Term Retracement here based on what I am seeing on the H4TF. AUD Pairs have been doing great throughout the week, and this is why I was inspired to focus a little bit more on Weekly Watchlist and observe Market Sentiments on each pair all week. Honestly, we don't have to treat Forex Trading like a Job, where we are obligated to trade every single day...I just feel like it's very important to integrate my Motto from now on. "Have an Investor Mindset, but Trade...
Good call Jay,

What are some of the main websites that you visit when catching up on fundamentals?
  • #349
  • Oct 8, 2015 12:47am Oct 8, 2015 12:47am
Quoting myke3295
{quote} Good call Jay, What are some of the main websites that you visit when catching up on fundamentals?
Thanks Bro.

I had the same setup on EUR/JPY and EUR/USD on Tuesday, but I got stopped out because my risks were too tight on both of them...I said to myself that
I won't miss AUD/USD for no reason.... Asian Session Traders were so kind to me so they pushed it down. I guess they saw what I saw....

Well, 90% of my readings come from ForexFactory (The News Section), and I read any articles that I can find on Bloomberg.com, this blog, and get update on this Youtube Channel.

Glad that I can help out a little.

OctaveJay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #350
  • Oct 8, 2015 1:14am Oct 8, 2015 1:14am
High-Impact News for the rest of the Day/Night:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNews_Thursday.png Size: 34 KB



Note:

I don't have any GBP pairs on my radar except EUR/GBP, but before the news release, I will do my best to lay out
a Roadmap for most of the GBP Pairs....

I am expecting London Open to be a bit quiet since everybody will be waiting on the sidelines, so it's best for me to get
some sleep very soon and get ready for the BIG PARTY.....

Talk later Traders!

OctaveJay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #351
  • Oct 8, 2015 2:03am Oct 8, 2015 2:03am
The Bank of England's Predicament in Five Charts

The BOE will release its monthly policy statement at noon Thursday, and investors will be quick to dig
for clues on whether officials still believe the U.K. can withstand the slowdown in the world economy.

Since last month's Monetary Policy Committee meeting, global clouds have been darkening an otherwise
rosy domestic picture. With the International Monetary Fund cutting its world outlook, the MPC will provide
an assessment of how that is impacting the U.K.

No change to the key interest rate is expected, with economists forecasting it will stay at 0.5 percent.

For more reading:
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #352
  • Oct 9, 2015 1:52pm Oct 9, 2015 1:52pm
Hello Traders,

I couldn't do much today because I was not 100%.... I was a bit sick throughout the week, but
early Thursday morning, I had to take a break from everything...I am feeling much better now....

This week was a great week, and I know some of you made tons of pips, and I can tell you this is just
the beginning of your journey....You have more reasons to celebrate when you make the right decision
every single day, and as long as you guys stay Disciplined and follow your rules, you will be rewarded greatly
by the Market.....

Some people say trading is Boring. I would say of course it is, but that's when you do the same Routine every
single day. LOL! You can never go broke by making small profit one trade at a time.....

Keep learning the system yall and study your Fundamentals!

Have a great weekend traders!

OctaveJay
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #353
  • Oct 9, 2015 2:04pm Oct 9, 2015 2:04pm
Quoting OctaveJay509
Hello Traders, I couldn't do much today because I was not 100%.... I was a bit sick throughout the week, but early Thursday morning, I had to take a break from everything...I am feeling much better now.... This week was a great week, and I know some of you made tons of pips, and I can tell you this is just the beginning of your journey....You have more reasons to celebrate when you make the right decision every single day, and as long as you guys stay Disciplined and follow your rules, you will be rewarded greatly by the Market..... Some people...
Good to hear that you recovering Master Jay...

Great weekend to you too!
  • #354
  • Oct 9, 2015 8:24pm Oct 9, 2015 8:24pm
Many technical indicators fluctuate as the current candle/ bar is being traded. This can cause signals over multiple time frames to change drastically if the dominant players in the market drive it that way. Without having looked at these in a live market yet, any comments? Thanks.
  • #355
  • Oct 10, 2015 1:30am Oct 10, 2015 1:30am
Quoting Mdu
{quote} Good to hear that you recovering Master Jay... Great weekend to you too!
Thanks mate!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #356
  • Oct 10, 2015 1:38am Oct 10, 2015 1:38am
Quoting R19
Many technical indicators fluctuate as the current candle/ bar is being traded. This can cause signals over multiple time frames to change drastically if the dominant players in the market drive it that way. Without having looked at these in a live market yet, any comments? Thanks.
Hello R19,

This method is not based on candlesticks Patterns or lagging indicators...It is based on Real-Time data from the Market where we are able to track Order Flow and utilize Market Volatility in our Favor...

Whatever the Dominant players are watching, we are seeing the same exact data....Please, read page 1 all the way through to have a much better understanding...
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #357
  • Edited 1:54pm Oct 10, 2015 7:27am | Edited 1:54pm
Quoting OctaveJay509
{quote} Hello R19, This method is not based on candlesticks Patterns or lagging indicators...It is based on Real-Time data from the Market where we are able to track Order Flow and utilize Market Volatility in our Favor... Whatever the Dominant players are watching, we are seeing the same exact data....Please, read page 1 all the way through to have a much better understanding...
To clarify, my question is regarding the specific indicators only, not the broader market analysis to determine the strongest and weakest currencies and strongest and weakest currency pairs.

Deep Bar Indicator, NPCP_HTChopFree, etc. are a function of price so they change based on price and lag price. I was asking whether these indicators constantly repaint based on the current candle/ bar which they probably do, and whether they even change their signal based on the current candle/ bar closing out which some indicators do. I will watch on Sunday.

For example, I have some other sets of indicators and on any time frame, I can see the current signal be tossed around based on the current candle/ bar. TradeStation has a great option where you can set certain indicators to update or show differently based on when a time frame closes. Even the current price action is full of whips all of the time as trades go up. That 10 point move that looks like a sell off building may only be a flash followed by a 50 point counter rally. These are general realities of the market that are not specific to your strategy.

Big players can force the market to signal bull/ bear at precise times. That's how the market starts to rally or sell off. Some are more aggressive and they start to get others to trade in their direction.

Thanks for creating this thread and I will go through it more thoroughly!
  • #358
  • Oct 10, 2015 8:10pm Oct 10, 2015 8:10pm
Quoting R19
{quote} To clarify, my question is regarding the specific indicators only, not the broader market analysis to determine the strongest and weakest currencies and strongest and weakest currency pairs. Deep Bar Indicator, NPCP_HTChopFree, etc. are a function of price so they change based on price and lag price. I was asking whether these indicators constantly repaint based on the current candle/ bar which they probably do, and whether they even change their signal based on the current candle/ bar closing out which some indicators do. I will watch on...
Hi R19,

I don't know how long you have been trading and I don't want to assume anything, but if you feel like this
system has a way out for your struggle in this business, you need to allow yourself to study it and take it
one step at a time...

It will not do me any good if I answer your questions, so I will let the market answers your questions next week
that way you can learn a lot more....I am not here to defend any indicators whether they repaint or not, I am simply
here to offer a better approach to traders out there so that they can avoid frustrations for the next 15-20 years in Forex.

The Big players have no choice but to see what we see, and we are in a position to take advantage of any Manipulations
in the Market as long as we stick to our rules and follow the Process.....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #359
  • Oct 10, 2015 8:38pm Oct 10, 2015 8:38pm
- Definitely will be tracking during market.
- My comments above about how the market can change what it's showing on the leading edge apply to most all technical approaches.
- Thanks!
  • #360
  • Oct 11, 2015 10:06pm Oct 11, 2015 10:06pm
Looking good. Market correlations shift over time, but this approach tracks the sentiment and activity of the market very well.
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