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Q A M Trading Strategy

  • #281
  • Mar 8, 2016 9:26pm Mar 8, 2016 9:26pm
Quoting Cizz
Also I don't know if this would come in handy for you but this is a good site on ADR and volatility for quick reference if ever needed https://www.mataf.net/en/forex/tools...gn=redirection
Yes there are plenty of sites around for that but I wanted traders to actually focus more on looking over their charts.

By combing over a given pair their eyes start to be trained on what is 'likely' to be expected in the trading window and also the daily trading ranges.

Being very very familiar with a currency pair that you plan to trade is vitally important.

What is the pair type? Is it a turtle, major, minor, exotic, volatile pair if so what usually happens and what do I expect to happen based on say upcoming news (directly/indirectly related), trading window ranges, what about spread will that affect the trading of a given pair?

Its a big learning curve but very interesting to say the least.

Masterrmind............
Master your Mind then Master your Trades
  • #282
  • Mar 8, 2016 9:33pm Mar 8, 2016 9:33pm
Presently my 3 long trades are sitting on about 0.36% DD

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Masterrmind...........
Master your Mind then Master your Trades
  • #283
  • Mar 8, 2016 11:09pm Mar 8, 2016 11:09pm
EURGBP - update

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Price struggling to break up higher above mini-resistance level shown on chart red horizontal line).

As time gets closer to FF Open (shown by the vertical green line start thinking about where you want to close out some trades or the whole cycle of trades.

Also start to think about reducing overall risk on your cycle of trades (say an hour or so before FF Open) which simply means on MT4 clicking and dragging your SL lines up higher on the chart to limit your risk.

The important point here is that you start doing some thinking that does not necessarily mean action.
What we want to do is actively monitor PA across the chart and if we suddenly see alot of bearish intent enter the market then we need to be prepared to close out our cycle of trades.

Being aware and being prepared for action is vital!

Masterrmind............
Master your Mind then Master your Trades
  • #284
  • Mar 8, 2016 11:22pm Mar 8, 2016 11:22pm
Quoting Masterrmind
Presently my 3 long trades are sitting on about 0.36% DD {image} Masterrmind...........
Hi MM, I would wait for a new LL for a long chance as long the price is under PV line, with my broker high 7750 and low 7730 for today ... but I do not feel so good with EUR/GBP, I saw it yesterday running against 7790 about day R1, even I thought about to go short at this point, I did not feel good in that pair, still running with EUR/CHF but the spread ...
  • #285
  • Mar 8, 2016 11:42pm Mar 8, 2016 11:42pm
Quoting togerhard
{quote} Hi MM, I would wait for a new LL for a long chance as long the price is under PV line, with my broker high 7750 and low 7730 for today ... but I do not feel so good with EUR/GBP, I saw it yesterday running against 7790 about day R1, even I thought about to go short at this point, I did not feel good in that pair, still running with EUR/CHF but the spread ...
I feel a similar way also but this is a learning phase on demo trading the EURGBP pair for the benefit of interested traders.

I chose the turtle pairs initially so traders could quite comfortably monitor PA even on an M1 chart.

Later in this thread I'll introduce far more active and also volatile pairs and some traders if they are not up to date with following PA on a turtle pair will struggle alot on pairs that move 100 pips in the Asian session when much larger gains are possible.....

Masterrmind.............
Master your Mind then Master your Trades
  • #286
  • Mar 9, 2016 12:10am Mar 9, 2016 12:10am
EURGBP [M1; 200 - manual]

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FF Open less than an hour away.

Time to tighten up the SL to reduce overall risk on the cycle of trades.

Note how I left the TP's up high but below the pivot that's because if price goes my way and enters profit I will continue to tighten all 3 SL's.

Closing out 1 or 2 trades into profit also needs to be considered in case price quickly reverses back down (watch the chart and watch PA)

Masterrmind..........
Master your Mind then Master your Trades
  • #287
  • Mar 9, 2016 12:28am Mar 9, 2016 12:28am
EURGBP [M1 Chart] - update

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Monitoring all trades

Tightened up the stops a little more

Some bearish intent entering the market.

Masterrmind..........
Master your Mind then Master your Trades
  • #288
  • Mar 9, 2016 12:33am Mar 9, 2016 12:33am
As a learning exercise I'll keep the EURGBP trades running but bare in mind that once price gets up closer to your entry level as it did then better you close out 1 or 2 trades or the whole cycle.

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Closer to FF Open ... yes price can race up and hit TP but it can also race down and smash through your SL

Masterrmind...........
Master your Mind then Master your Trades
  • #289
  • Mar 9, 2016 12:45am Mar 9, 2016 12:45am
Quoting Masterrmind
As a learning exercise I'll keep the EURGBP trades running but bare in mind that once price gets up closer to your entry level as it did then better you close out 1 or 2 trades or the whole cycle. {image} Closer to FF Open ... yes price can race up and hit TP but it can also race down and smash through your SL Masterrmind...........
EURGBP [M1; 200 - manual]

All 3 SLs tightened up further.

Total risk on the 3 trades is about 0.5 - 0.6% of account balance so i know what I stand to lose if the stops get taken out.

No need to keep total risk at 3% this close to FF Open.......

Masterrmind............ :nerd:
Master your Mind then Master your Trades
  • #290
  • Mar 9, 2016 1:05am Mar 9, 2016 1:05am
Note the increased volatility and therefore increased danger of allowing trades to run post FF Open

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Masterrmind...........
Master your Mind then Master your Trades
  • #291
  • Mar 9, 2016 1:16am Mar 9, 2016 1:16am
EURGBP [M1; 200 - manual]

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Hitting the FF Open!

Do you really want to have your trades open during this period?

I don't think many traders would.

Masterrmind............
Master your Mind then Master your Trades
  • #292
  • Mar 9, 2016 1:26am Mar 9, 2016 1:26am
Quoting Masterrmind
EURGBP [M1; 200 - manual] {image} Hitting the FF Open! Do you really want to have your trades open during this period? I don't think many traders would. Masterrmind............
EURGBP [M1; 200- manual]

Cycle of trades allowed to run post FF Open as a learning exercise that illustrates the potential dangers.

You might get lucky sometimes and the trades get closed out in profit but often it runs the other way too like it did today.

Important to understand the value of monitoring and managing your cycle of trades.

If you decide to let the trades run a bit longer be fully aware of the applied risk (know your risk% and how much you stand to lose if trades get stopped out).

Tighten up your stops as I did as FF Open approaches and make decisions to close out some or all of your trades (even if it means a small loss)

Hope the process I went through was useful.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #293
  • Mar 9, 2016 3:00am Mar 9, 2016 3:00am
most excellent work MM, hope everyone is following your reasoning and hope they ask questions if they get stuck ....
  • #294
  • Mar 9, 2016 3:23am Mar 9, 2016 3:23am
Quoting starpro
most excellent work MM, hope everyone is following your reasoning and hope they ask questions if they get stuck ....
The idea is to think through your positions and not simply hope for success!

Thanks starpro there will be plenty more commentary on future cycles and especially during this 1st phase.

Masterrmind............
Master your Mind then Master your Trades
  • #295
  • Mar 9, 2016 5:54am Mar 9, 2016 5:54am
Quoting Masterrmind
{quote} The idea is to think through your positions and not simply hope for success! Thanks starpro there will be plenty more commentary on future cycles and especially during this 1st phase. Masterrmind............
Hello my friend,Congrat for your first and new thread.Cheers.Al.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #296
  • Mar 9, 2016 6:23am Mar 9, 2016 6:23am
Quoting Almo2312
{quote} Hello my friend,Congrat for your first and new thread.Cheers.Al.
Always welcome here Almo and thank you my friend.

Masterrmind...........
Master your Mind then Master your Trades
  • #297
  • Mar 9, 2016 7:48am Mar 9, 2016 7:48am
THURSDAY TRADING (WEDNESDAY FOR OTHER FRIENDS)

Potentially an interesting day with plenty of news floating around so lets see how it affects our trading session.

Forex Factory Calendar:

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Some additional sources:

http://www.reuters.com/finance/currencies

http://www.bloomberg.com/markets

Some examples of live news feeds:

http://ransquawk.com/packages/forex

Some other sources:

http://www.fxstreet.com/news/forex-news/

https://www.dailyfx.com/real-time-news

Central Bank sites (in no particular order):

List of All Central Banks: https://www.bis.org/cbanks.htm

USA: Multiple major city sites eg NY: https://www.newyorkfed.org/

Canada: http://www.bankofcanada.ca/

Germany: http://www.bundesbank.de/Navigation/...home_node.html

United Kingdom: http://www.bankofengland.co.uk/Pages/home.aspx

European Union: http://www.ecb.europa.eu/home/html/index.en.html

Russian Federation: http://www.cbr.ru/eng/

Switzerland: http://www.snb.ch/en/

Japan: http://www.boj.or.jp/en/

Australia: http://www.rba.gov.au/

New Zealand: http://www.rbnz.govt.nz/

Enjoy the reading........

Masterrmind.............
Master your Mind then Master your Trades
  • #298
  • Mar 9, 2016 8:13am Mar 9, 2016 8:13am
great stuff. love that you are providing charts and commentary in real time. very rare here on FF, in my experience. good gutsy going!
  • #299
  • Mar 9, 2016 8:23am Mar 9, 2016 8:23am
Quoting floydd
great stuff. love that you are providing charts and commentary in real time. very rare here on FF, in my experience. good gutsy going!
Thanks for that Floydd its great to know its useful!

Masterrmind.............
Master your Mind then Master your Trades
  • #300
  • Mar 9, 2016 3:34pm Mar 9, 2016 3:34pm
Quoting Masterrmind
QUANTUM ASIAN METHOD (QAM) by Masterrmind* DUE TO POPULAR DEMAND AND SEVERAL REQUESTS BY INTERESTED TRADERS I WILL BE OUTLINING HOW I TRADE QAM The original QUANTUM LONDON TRADING (QLT) thread by mer071898 can be found here: http://www.forexfactory.com/showthread.php?t=551382 (original idea was based on the Frankfurt/London trading times). Note: Trading the Q Method in the FF and London sessions is certainly possible (I know because I traded it for several months as have others) but it requires a rather big bank roll ie a larger trading account...
I am a bit lagging behind (just like a repainting indi ;-), great idea Mastermind !!!!
Congratulations and all the best with your "new thread".

From my point of view, no trader could expect better than this.
You have been precise, concise, open to constructive criticism and transparent with a Trade Explorer to top it all off showing the teaching of the preachings.

Many thanks again for the good advice and kind words you have given me in the past.
The FF community needs more selfishless people like you.

God bless you, your family and your noble teaching efforts.

LuXing
Wisdom begins in wonder
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