Q A M Trading Strategy

Platform freezes at this stage.... unbelievable!

Masterrmind...........

EURGBP [M1;200 - manual]

Positive cycle managed start to finish.

SLs tightened a lot but necessary.

Price then bounced up off the DO line and could still keep heading down but time will tell.

Cycle closed out!

Masterrmind...........

miss out on a bit with TS but protects capital when you cant watch

Nice work!

Not the most profitable cycle but its the process that's important here!

Masterrmind...........

yeh, rinse and repeat LOL,,,, CLASSiC pin bar candle on way down , if you could spot 1 of them a day .... WD on your lot

EJ in my sights now ,

Looking at a possible trade or 2 on the volatile pair EURAUD [M15; 10]



Lets see what PA does and if an entry becomes a reality.

Notes:

This is trading outside the designated Asian trading window so it falls into the Post FF Open into London trading window.

The volatile pairs are best either not traded at all or left for much larger ratios of account balance : position size.

However, if trades are taken it will serve to show significant differences to the turtle pairs.

Masterrmind..........

Long entry as an example and not at the best location either considering distance to DO line but it will serve as an example nonetheless.



Masterrmind............

EA



20 pips in 17 minutes

Thats the difference!

Small account start with the turtle pairs
Larger account and as your experience grows look at majors and maybe volatiles.

Good trading,

Masterrmind........

WD

END OF WEEK 3 BRIEF SUMMARY

Main Points covered include the following:

1. EURCHF, EURGBP and EURUSD pairs used as a basis for entries

2. AUDJPY pair traded (both AUD and JPY currencies fit with the Asian session so how does this affect the trading?)

3. S+R, Pivots and DO line continued to be used in the chart analysis showing PA behavior near these zones and what to look out for!

4. PA bouncing UP or DOWN from DO line, S+R zones

5. Looking left for signs of chart structure (likely turning points eg AJ pair post# 401)

6. Pip range from current price to nearest level eg DO line, pivot point or S+R zone to determine if trade is worthy (note spread also) ... post#402

7. If next key support or resistance level is greater than global SL think twice about taking trades (might be best to search for a 'better' pair)

8. If a current short cycle shows PA drop then retest recent highs, then break above the highs consider closing some/all trades (refer AJ Post#407. Be very watchful in cases where the next S or R level is many pips away since price may well travel to test this level leading to unwanted DD!

9. Data differs between brokers and sometimes a Quantum box may not be printed. Trades can always be made from levels close to the trending lines if required and if deemed to be good entries (refer Post# 409)

10. Pairs with higher average ADRs can create situations of increased DD so be very aware of this fact!

11. Monitor and manage open cycles on a continual basis

12. Reduce risk as much as possible by reducing SLs the closer to FF Open the trades become

13. Opening cycles late in the Asian trading window has proved again and again to be a dangerous play! Avoid it!

14. Awareness of broker server time changes (DST etc)

15. ATW start time reduced by an hour to Tokyo Open - 1 hour (observe how Q boxes are being generated on the chart, earlier cycle = better cycle)

16. Complete cycles well before FF Open when trading ranges usually increase creating DD issues

17. Zoom out on your chart and have a good look at PA across the chart

18. Trading M1 charts apply 0.01 or 0.02 lots per entry (initially) to make keeping up with Q boxes a little easier (trader preference)

19. NEVER exceed the assigned risk% per cycle (this has been covered many times and will continue to be covered)

20. Thinking process in managing late cycles in trading session (eg tightening SLs and extending TPs) have been outlined exhaustively (master this type of thought process)

21. Questions to ask yourself Post #444 - what was great about your cycle management and what was bad and how can it be improved

22. Introduced alignment with trends of related majors (EU, GU, EChf as examples)

23. If a clear longer term trend is till in force look at taking cycles that align with overall trend

24. Check the news (use FF Calendar as a starting point but progress to live news feeds and also Bloomberg, Reuters, Central Bank speeches etc)

25. Try to be in tune with the market (sometimes this plays only a small part in trading a turtle pair but not always and depends on the timing with bigger moving pairs likely to have larger movements (not always though)!

26. Low and High density clusters of Quantum signal boxes on a chart (eg turtle pair and volatile like EA and GA.... what do they imply?

27. If there is no trend on the related majors what does this imply for the pairs you are trading (eg Post # 464)?

28. Introduced the [M15; 10] TF for those traders who prefer less activity (I do urge entries to be made from an M1 TF to 'pinpoint' a 'better' entry

29. Try tandem charts on the 1 screen (M1 left side, M15 right side etc)

30. Wait for Quantum on an M15 TF, then look for bullish/bearish intent and also PA relevance and levels (Does it make sense to trade here?)

31. Start thinking about which pairs might be 'better' to trade by thinking about the following questions previously outlined in Post # 487 but repeated here for your convenience:

a) To open or not to open a cycle in the same direction of the longer term general trend
b) To trade Pair A over Pair B
c) Monitoring trades from start to finish
d) Managing the cycles effectively (altering SLs and TPs when necessary)
e) Closing out risky cycles sooner rather than later
f) Keep some cycles running while closing out others (more on this when we start trading multiple pairs at the same time)
g) Market awareness (news etc)
h) Risk distribution for a given cycle on a given pair
i) Ability to NEVER exceed the maximum assigned risk% per cycle per brokerage account
j) other factors (will be outlined later).

32. awareness of psychological price levels such as 000's and 50's eg AJ 85.000

33. Use the i-profit tracker indicator attached to your current chart to keep an eye on currently running DD

34. Try to make long entries off a bullish candle and shorts off a bearish candle (not always the case but its good practice refer Post# 521 and 529) but location also needs to be considered since a candle completing at the DO line could literally go either way...bounce back or charge through or hesitate

35. Candlestick patterns (eg reversal) should be known very well (pin bars, doji and several others)
Note: candlestick pattern by itself is not as powerful as confluence of multiple factors concentrating on that same level)

36. turtle pairs for smaller accounts (usually far safer)

37. majors and volatile pairs typically for much larger accounts

38. RISK MANAGEMENT IS THE MOST IMPORTANT CONSIDERATION .... ALWAYS!!!

This covers most of the basics so as we move forward its a good idea to revise the material until its automatic in your thought processes!

Ask questions on any of the material presented as this thread is totally transparent!

Good trading,

Masterrmind..........

The following i-profit tracker indicators (both ex4 and mq4 file types attached) may prove useful.

Both now and especially later when multiple pairs are traded.

Full acknowledgment to the original coders of all these indicators which are freely available here on the FF forum.






The mini versions are included for those traders who may find use for them however I've never used them.

Please test them out for functionality.

Masterrmind...........

The basic plans for WEEK 4 trading will be posted later tomorrow!

Stay tuned and enjoy the rest of the weekend!

Masterrmind..........

WEEK 4 TRADING PLAN

Applied risk per cycle increased to 5% with some examples going higher.

Choosing a pair from a group of pairs to open cycles of trades.

Some examples may include the following:

Typically we are after low trading range pairs!

1. AUDJPY
2. AUDNZD
3. AUDUSD
4. CHFJPY
5. EURCHF
6. EURGBP
7. EURJPY
8. EURUSD and
9. NZDJPY

Note: It is a good idea to keep a close watch on the trading ranges of preferred pairs because they may change throughout the course of the year!

An indicator (and there are many) that can be useful as a starting point in looking for suitable pairs to trade is available below:

An example of using 9 pairs is shown in the screenshot (there are 20 currency pair slots that can be used)







Note: Only the ex4 version is provided (full acknowledgement to the original coder)

Up to 20 currency pairs can be included but remember it only lists an average daily range (and ATR) so it doesn't show a clear picture of the Asian Trading Window (ATW) ranges and therefore you will need to open the various charts and look further using the Xi-AsianBO indi to compute ATW ranges.

The ADR_ATR_20_Pairs_v3_Sal indicator can be applied to the traded pairs chart or on a separate chart that can be referred too!

There are several dashboards available that include a whole host of data on multiple pairs including ADR, ATR, spread, swap long, swap short, pip movement etc etc but I won't get into this discussion just yet.

If a trader has an informative dashboard they think would be useful for the QAM strategy then please feel free to post a comment.

Masterrmind............

MONDAY - START OF WEEK 4

Tokyo -1 Start time

EURCHF [M15; 10] and EURGBP [M15; 10]



Also have a look at the 7 other pairs (9 pairs are listed in the post above) to get a feel for other pairs that could be traded.

Monday is usually a slow day (not always) so take the time to analyze the charts.

1. Find a global SL
2. average number of trades per cycle in the ATW period
3. Lot size (keep it at 0.01 or 0.02)
4. PA across the chart (previous, today and current)
5. Distances in pips of current price to S+R, pivots, DO line and other key zones of interest
6. Look at spread and decide not to trade a pair if the current ranges are very small
7. News
8. Make an assessment to trade a pair or nor to trade a pair or to continue to monitor a pair

Masterrmind............

I'll be back in about an hour or so due to other business.

In the meantime assess each pair and try to decide on which pair to trade (M1 or M15 TF also needs to be considered)

I'll take a good look at several pairs when I return so if no trades are placed initially do not be worried as this is the learning phase.

Masterrmind............

EURCHF [M15; 10]



Consider zones of confluence!

Look left and consider the chart structure ..... look at where recent highs are located.

Start putting together multiple trading factors!

Note: Fibonacci Ratios can play a role also so if you need further explanation please comment or I will assume you know how to apply Fibs correctly!

Masterrmind........... :nerd:

EURGBP [M15; 10]



Zoomed out

Previous trading days Fibs applied

Zones of S+R

Price reversal tendencies

Note: if the chart starts looking too busy then look at 1-2 factors at a time and then put them altogether at the end!

Masterrmind............

Sell stops



Applied on the EURGBP [M15; 10 - manual] chart as examples

If sell stops are applied and price keeps making new highs then its not an issue because what you are trying to do is to wait for price to reverse down and collect your sell stops.

This is another strategy that can be applied.

Wait for several Q boxes ... for example, as price goes up more and more red Q signal boxes will be printed as new highs are created and so you will place pending sell stops close to the Q box price levels and simply wait for price to retrace.

If after several hours price remains high and its getting closer to FF Open then consider canceling these pending orders.

Note also that a pending sell stop was placed on a Q box that formed prior to our trading window start time.
This is completely reasonable but remember to keep a close watch on how close these trades will open to key levels.

It would not make much sense to have a pending sell stop less than 5 or so pips above the DO line unless you plan on scalping the trade quickly for a few pips because a bounce is possible from this level.

Masterrmind.............

EURCHF [M15; 10]



Watching PA

Price dropped a bit, then went up, then I entered short by 2 entries which would have got me into similar price levels as if I had entered immediately from where the Q boxes first printed.

Waiting for a later entry allows PA to unfold!

Masterrmind............

Think about your risk per cycle.

This week we are applying 5% total risk per cycle.

My starting balance today is US$924.67

If I decide to trade @ 0.01 lots per trade how many trades can I apply if my SL is say 35 pips.

For simplicity sake (note the correct exchange rates should be applied or a risk/reward indicator) lets assume 1 pip per 1 lot = US$10

1 trade @ 0.01 at 35 pips (worst case scenario) is about US$3.50

5% of US$924.67 is about US$46.23

Entries is 46.23/3.50 = 13.2 = 13 (choose 10 because we know that 1 lot per pip on EG is more like US$13-14 NOT US$10)

If trading at 0.02 lots per entry then you have about 5 entries total (not more)

Monitor current MT4 account balance especially profit column as you do not want this to exceed 5% of total account balance (US$46.23 in the case of this demo account)

Masterrmind............