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Prez Forex (pres78) Trading Journal

  • #601
  • Feb 24, 2016 6:51am Feb 24, 2016 6:51am
Watching crude for a possible short.
Today's zone = Tomorrow's opportunity!
  • #602
  • Feb 24, 2016 7:47am Feb 24, 2016 7:47am
Quoting VSAgav
Hi Pres Good to see you are back and trading! Glad you're feeling better. As Rinehart said we have missed your updates as of late. Ive found the last couple of weeks pretty poor in terms of basic VZA trades. Either Im missing something or its just been weird market conditions. Would it be possible to tell us more about your trade manager EA and how we might be able to find something similar? There are a bunch of them about on the web but they don't look as good as yours. I don't mind paying for one if its reliable but your advice would be most welcome....
Hello Gav,

I hope all is well. I would have to agree that for the most part things have been a bit choppy on the currencies while I was out sick and even since I returned. We had a nice day recently where pairs trended nicely but for the most part very choppy. I have focused mostly on Oil and Gold since I got back to trading because they have been moving cleaner.

As far as my EA my biggest hesitation in selling it or letting other use it is two things;

  1. People complaining (or blaming me for loses etc...) that it isn't working right (because I am not a pro coder so there could be issues)
  2. People that buy it from me giving it to others or breaking in and modifying the code etc... I have spent far too much time building this to be what I want to see someone stealing it etc...

As far as recommending other EA's I have no idea as I have used a few free ones but none did what I needed. I am sure there are good one's out there but it's really a matter of finding one that does what you need it to do. I never found that so I wrote one that gives me a lot of flexibility and allows me to manage my trades the way I like to.

Sorry I couldn't be more help.

Today's zone = Tomorrow's opportunity!
  • #603
  • Feb 24, 2016 7:49am Feb 24, 2016 7:49am
Quoting pres78
Watching crude for a possible short.
​Nothing has played out... looks as though we may be basing. We will see.
Today's zone = Tomorrow's opportunity!
  • #604
  • Feb 24, 2016 8:41am Feb 24, 2016 8:41am
Bought at end of previous bar. I should have london high fibbed and i believe it was about a good as a 2bar reversal as i was getting.
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  • #605
  • Feb 24, 2016 8:48am Feb 24, 2016 8:48am
Successfully out at the 100 line. just shot right up there.
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  • #606
  • Feb 24, 2016 8:50am Feb 24, 2016 8:50am
Quoting RaverStyleTim2
Bought at end of previous bar. I should have london high fibbed and i believe it was about a good as a 2bar reversal as i was getting. {image}
Well it's hard to argue that we should be seeing some buyers from where we are. Check out the Daily EURUSD chart. Today we hit the H of that crazy wide spread UHV Dec 3rd daily bar. First re-test since the break on Feb 3rd.
Today's zone = Tomorrow's opportunity!
  • #607
  • Feb 24, 2016 9:03am Feb 24, 2016 9:03am
One of the things i struggle with is letting trades run. One of the adjustments is clearly trading multiple lots, one to pay yourself and one to let run. but i must admit it can be hard to manage a trade manually when you see a trade hit a target level.
  • #608
  • Feb 24, 2016 9:47am Feb 24, 2016 9:47am
Quoting RaverStyleTim2
One of the things i struggle with is letting trades run. One of the adjustments is clearly trading multiple lots, one to pay yourself and one to let run. but i must admit it can be hard to manage a trade manually when you see a trade hit a target level.
​That is always a big struggle for most. Finding the happy balance between taking profit too early and waiting too long. Most people struggle with the fear of missing out on a runner that they hold on too long and take a loss or give back more than they should. Or the opposite where people are so scared of losing that they move to BE too quickly just to get stopped out before the big move. The solution that works for me is taking two positions. I take the first off at 1:1 (roughly) and the second I let run. That way I can leave part two fully exposed with the most room to breath and still have a 0 risk trade if stopped out. I do agree with you that it can be tough mentally to not close out a trade 100% at know S or R. For me I try and be patient and wait to see if the S or R is going to hold or give and not panic at the first touch.
Today's zone = Tomorrow's opportunity!
  • #609
  • Feb 24, 2016 9:48am Feb 24, 2016 9:48am
Quoting pres78
{quote} ​Nothing has played out... looks as though we may be basing. We will see.
Saw the bottom forming, saw the SOS but didn't find a way into a crude long and she left without me ..​.
Today's zone = Tomorrow's opportunity!
  • #610
  • Feb 24, 2016 10:08am Feb 24, 2016 10:08am
Quoting pres78
{quote} Hello Gav, I hope all is well......
Thanks Pres!
No I totally understand. Its a great EA you have and you should be careful about it.
Im using an EA at the moment which is super simple and basically handles the taking half position off at 1:1 and moving stop to b.e. Its useful as its faster than me and allows me to keep my hands off the trade while the full risk is on (the difficult bit)!
Its not got all the fancy risk sizing features though and placing the stop is fixed based on entry. So stop can be a bit closer than wished for when manually entering on a break.
I might well build my own with similar characteristics to your stop moving method. A trailing stop just doesn't work to give the trade room to breath.
Thanks for the reply!
Gav
Volume at Volume
  • #611
  • Feb 24, 2016 10:40am Feb 24, 2016 10:40am
Took a short scalp a few minutes ago on EURUSD 1 min chart entry at 1.036, SL 1.041.

Part 1 target 50% of TVZ. A little better than 2:1. Will decide on part 2 at that point. Will move to BE for sure at 2:1.

​Edit - this all played out, now at BE on part 2, will let the EA manage part 2 for now.
Today's zone = Tomorrow's opportunity!
  • #612
  • Feb 24, 2016 11:33am Feb 24, 2016 11:33am
Quoting pres78
Took a short scalp a few minutes ago on EURUSD 1 min chart entry at 1.036, SL 1.041. Part 1 target 50% of TVZ. A little better than 2:1. Will decide on part 2 at that point. Will move to BE for sure at 2:1. ​Edit - this all played out, now at BE on part 2, will let the EA manage part 2 for now.
​Closed part 2 for around 2:1. Now in a long scalp at 1.0244 (risky as we are above YVZM but below TVZM - do NOT try this at home ​).
Today's zone = Tomorrow's opportunity!
  • #613
  • Feb 24, 2016 12:01pm Feb 24, 2016 12:01pm
I caught a 50 fib Pres 2BR on EURGBP today. Thank you, Sensei!

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  • #614
  • Feb 24, 2016 12:19pm Feb 24, 2016 12:19pm
Quoting pres78
{quote} ​Closed part 2 for around 2:1. Now in a long scalp at 1.0244 (risky as we are above YVZM but below TVZM - do NOT try this at home ​).
​Snore... sideways action. Closed out.
Today's zone = Tomorrow's opportunity!
  • #615
  • Feb 24, 2016 12:20pm Feb 24, 2016 12:20pm
Quoting Rinehart
I caught a 50 fib Pres 2BR on EURGBP today. Thank you, Sensei! {image}
Today's zone = Tomorrow's opportunity!
  • #616
  • Feb 24, 2016 12:30pm Feb 24, 2016 12:30pm
Quoting pres78
{quote} ​Snore... sideways action. Closed out.
​Psych! I am now long again at 1.0256... 1min pres78 2BR type 1 into TVZM.
Today's zone = Tomorrow's opportunity!
  • #617
  • Edited 3:39am Feb 25, 2016 3:17am | Edited 3:39am
GU short into high of yesterday's selling zone nice volume at volume first trade stopped out at trailing 2nd closed out at support.

Edit: A Question
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Think Twice Low Volume is Key to Success
  • #618
  • Feb 25, 2016 1:11pm Feb 25, 2016 1:11pm
Really late in the day but I just couldn't let this Oil long pass me by. I had no real expectations due to time of day but with all the SOS behind me I just had to give it a try. It's worked out well thus far. 32 tick SL (I couldn't justify any tighter) with entry at 32.32, SL at 32.00. So far hit 4:1 so locked in at 2:1.

Second test of YVZ first time was a bounce from the H with an OK move up. This time we tested deeper into the zone. Awesome 3 bars right in a row. A pres78 2BR type 1 followed by a NS/test (complete loss of volume). So I set my pending at the H and well the rest as they say is history.

Not seen on my chart is today's volume zone which is bar 1 of that 2BR but we found support at the mid of TVZ at the same time as we again found support at the H of YVZ. Check out the pres78 2BR type 2 on the 15 minute chart and you'll see what I mean. My entry was at the high of the hourly test which was real close to the H of TVZ... yes there was a risk the H could hold but as I said with back to back SOS I felt good pulling the trigger.
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Today's zone = Tomorrow's opportunity!
  • #619
  • Feb 26, 2016 8:00am Feb 26, 2016 8:00am
Question for you Pres!

I know your method is to draw the previous day's 1hr zone and to draw today's LO zone. Then to look for shared levels, trades, etc.

My question, if you are trading the New York open instead of the LO would you normally draw that zone instead of the LO zone (especially if the NYO zone is higher volume than LO)? Or would you keep using the LO zone almost always? Or would you look at both zones and see which one has shared levels with yesterday's zone and choose that one?
  • #620
  • Feb 26, 2016 10:01am Feb 26, 2016 10:01am
Quoting Rinehart
Question for you Pres! I know your method is to draw the previous day's 1hr zone and to draw today's LO zone. Then to look for shared levels, trades, etc. My question, if you are trading the New York open instead of the LO would you normally draw that zone instead of the LO zone (especially if the NYO zone is higher volume than LO)? Or would you keep using the LO zone almost always? Or would you look at both zones and see which one has shared levels with yesterday's zone and choose that one?
All depends on where PA stands with respect to the zones. If at NYO we are moving back into LO or YVZ then I will continue to trade them. If at NYO we are away from "current" zones then I will fib the NYO (or even the second hour of NYO) and trade that zone. Usually YVZ plays a part at LO, LO zone could play a part after LO or even at NYO and is then replaced by a NYO zone as the current days zone. That said I always keep YVZ on the chart as it can play throughout the day for entries or even as a target.
Today's zone = Tomorrow's opportunity!
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