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  • #5,281
  • Feb 1, 2016 3:58am Feb 1, 2016 3:58am
Dax +19 +22...... took this when Macd peaked OB on the R5....monitored it on the R3 at first then switched to the R1 when PA slowed

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  • #5,282
  • Feb 1, 2016 4:22am Feb 1, 2016 4:22am
As much as I like renko charting, there is a thing that annoys me and that is the fact that on hindsight, trade management appears so straight forward, but once you are in the trade in real time it is a different story.

I took an entry that I thought was pretty low risk, BPC, and was aiming at making 3x5 pips. Instead, I closed my position early thinking that price was forming a bottom on the R3 and ended up making just 0.6 of a pip. Needless to say that as soon as I closed the trade, price took off without me.

I still need a lot of learning to get anywhere near master Dee.
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  • #5,283
  • Feb 1, 2016 7:42am Feb 1, 2016 7:42am
am long dax
  • #5,284
  • Feb 1, 2016 7:47am Feb 1, 2016 7:47am
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  • #5,285
  • Feb 1, 2016 7:56am Feb 1, 2016 7:56am
Quoting PhilippineFX
Dax +19 +22...... took this when Macd peaked OB on the R5....monitored it on the R3 at first then switched to the R1 when PA slowed {image}{image}{image}
Trades from a different planet..) Really nice

This is me.. 50p limit's done. I'm really glad I didn't have any loosing trade. But I know these will come soon or later... Anyway I'm done for today.
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  • #5,286
  • Feb 2, 2016 12:46am Feb 2, 2016 12:46am
my morning trades was a total disaster ...all losers except 1 ....was trigger happy and confused ---no discipline
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  • #5,287
  • Feb 2, 2016 12:47am Feb 2, 2016 12:47am
Quoting bettervolume
my morning trades was a total disaster ...all losers except 1 ....was trigger happy and confused ---no discipline {image}
Why did you trade during the ranging period? It was clearly directionless, better to stay away from situations like that.
Invincibility lies in the defence; the possibility of victory in the attack
  • #5,288
  • Feb 2, 2016 12:52am Feb 2, 2016 12:52am
yes you are right sometimes I have no discipline I knew I was not suppose to trade becos my brain was unclear about the direction ,
  • #5,289
  • Feb 2, 2016 12:56am Feb 2, 2016 12:56am
Quoting bettervolume
my morning trades was a total disaster ...all losers except 1 ....was trigger happy and confused ---no discipline {image}
You are selling when Macd is close to OS and buying when it is showing OB....in fact you are buying[getting out] right at the peak of OB....try reversing that strategy. I am not being a smart ass but you are doing this backwards...close your trade terminal and watch this for a few days///
  • #5,290
  • Feb 2, 2016 12:59am Feb 2, 2016 12:59am
thanx phillipinx and bblaasz for your observations I think I wasn't focused I must work on the discipline and watch out for ob and os
  • #5,291
  • Feb 2, 2016 1:08am Feb 2, 2016 1:08am
Dax 30 +74 +76
After leaving an easy 50 pips on the table yesterday by not being patient I let this one cook a while.....damn it tested my twitchy scalping finger but i toughed it out....got in at Macd OB on the R5 and got out at support on the R10 as well as macd OS.....it reversed a while but in fact price broke support and is now heading south some more.....the thing about pips is you can not get them all....even dee leaves a few scraps on the table for us to chew on...
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  • #5,292
  • Feb 2, 2016 1:27am Feb 2, 2016 1:27am
Quoting PhilippineFX
Dax 30 +74 +76 After leaving an easy 50 pips on the table yesterday by not being patient I let this one cook a while.....damn it tested my twitchy scalping finger but i toughed it out....got in at Macd OB on the R5 and got out at support on the R10 as well as macd OS.....it reversed a while but in fact price broke support and is now heading south some more.....the thing about pips is you can not get them all....even dee leaves a few scraps on the table for us to chew on...{image}{image}

that was excellent trading there .. I like those long hauls
  • #5,293
  • Feb 2, 2016 1:32am Feb 2, 2016 1:32am
Quoting bettervolume
{quote} that was excellent trading there .. I like those long hauls
Thx.....47 minutes felt like an eternity....scalping is good for me but the long game[if you call one hour long] helps round out the skills....I think one compliments the other
  • #5,294
  • Feb 2, 2016 2:11am Feb 2, 2016 2:11am
am long dax
  • #5,295
  • Feb 2, 2016 2:34am Feb 2, 2016 2:34am
Dax 30..+21 +23 +7
..looking for a bounce off of 9650BRN and macd OB on R3....never got there but managed to jump on..out on macd OS on R3 chart......then stole 7 on the retrace.
Hard to say if we have a HTF reversal now. Will watch and wait and maybe steal a few pips
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  • #5,296
  • Feb 2, 2016 3:20am Feb 2, 2016 3:20am
Dax 30.....+5x11-15pips
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  • #5,297
  • Feb 2, 2016 4:08am Feb 2, 2016 4:08am
dax 30 +16 +22
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  • #5,298
  • Feb 2, 2016 4:43am Feb 2, 2016 4:43am
Quoting PhilippineFX
dax 30 +16 +22{image}
Great trading Philippine,

So a good chunck of your trading is based on clean runs to OB/OS MACD levels and waiting for a reversal renko brick.

I would much appreciate some feed back on what constituates a good MACD reversal level and also your personal opinion on the stochastic as you no longer use it.

Thank-you for your continual support.
  • #5,299
  • Feb 2, 2016 5:34am Feb 2, 2016 5:34am
Quoting Ic555
{quote} Great trading Philippine, So a good chunck of your trading is based on clean runs to OB/OS MACD levels and waiting for a reversal renko brick. I would much appreciate some feed back on what constituates a good MACD reversal level and also your personal opinion on the stochastic as you no longer use it. Thank-you for your continual support.
For me stochs is premature in pinpointing a reversal but others seem to get a good read from it....comes down to what you can see....I like to see price cycle in waves preferably in not too steep an angle.....then if/when macd peaks cleanly on the R5 i switch to the R3 for fine tuning....it comes down to feel in the end....when the action slows down its all pretty much the R3 chart but of course you must lower the expected pip count accordingly...also i am playing around with the R1 chart but do not want to say much about it at the moment....its still a work in progress. Before this R1 experiment I always had a glance at the M1 if PA was confusing me on the Rencos...
This works well for the most part....occasionally I will take a stab at a breakout trade but seldom post them...it`s to hard to explain them
Also I keep an eye on S&R on the 1 and 4 hour and always remind myself not to pull the trigger without a glance at the R10 to make sure nothing is brewing there to cancel all bets.
Hope this all makes sense...
  • #5,300
  • Feb 2, 2016 8:35am Feb 2, 2016 8:35am
I have been looking for an explanation on the best way to use the OB and OS areas of the Stochastics. I see many of you entering long when the Stochastics is approaching OB, but I get the feeling that you have no clue why you entered, may be this explanation from Alan Farley on the Hard Right Edge site might give you the final pieces of the Stochastic puzzle.

http://www.hardrightedge.com/tactics...tochastics.htm
Cut your Losers short and let your Winners run.
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