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QAM Trading Journal $US1000 to ???

  • #41
  • Apr 6, 2016 6:44pm Apr 6, 2016 6:44pm
AUDUSD [M5; 40]

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Looking to go long if price drops down a bit lower to key levels.

Masterrmind............
Master your Mind then Master your Trades
  • #42
  • Apr 6, 2016 7:44pm Apr 6, 2016 7:44pm
GBPJPY [M5; 40] + USDJPY [M5; 40]

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Idea is to wait until a shorting opportunity presents itself ....

BUY STOPS could be applied but with current JPY strength that practice would require close monitoring of any pending orders triggered!
When the strength is strong in one currency over another then it far more likely to observe smaller pullbacks followed by a continuation of price to the down side in the case of both the GJ + UJ pairs .......

Masterrmind.............
Master your Mind then Master your Trades
  • #43
  • Apr 6, 2016 8:07pm Apr 6, 2016 8:07pm
No immediate cycles to be taken but certainly if price starts to move into ideal locations on a given chart then cycles may be opened up.

Update to current pairs (13) being monitored are as follows:

AUDJPY
AUDNZD
AUDUSD
CHFJPY
EURCHF
EURGBP
EURJPY
EURUSD
NZDJPY

plus

EURAUD
GBPJPY
GBPUSD
USDJPY

Monitoring phase!

Masterrmind............ :nerd:
Master your Mind then Master your Trades
  • #44
  • Apr 6, 2016 8:17pm Apr 6, 2016 8:17pm
Hi Masterrmind,

aud/jpy around 83 as I type ... do you see any long chance for tp 83.1
  • #45
  • Apr 6, 2016 9:54pm Apr 6, 2016 9:54pm
Quoting togerhard
Hi Masterrmind, aud/jpy around 83 as I type ... do you see any long chance for tp 83.1
AJ

Price has been fairly fixed over the last few hours between the range 82.850 and 83.000.

Note that the JPY pair has been the currency showing the greatest strength (based also on recent news announcements) which should have you searching for opportunities to go short NOT long.

However, if price broke out above the support turned resistance level close to 83.100 level then longs could be considered with TPs of about 10-20 pips heading up closer to the DO line. Be careful though because you are trading against the general flow of the pair so as price moves up think about following it with tightened stops.

Price might start moving again just before or at FF Open and then certainly as London fires up so be very aware of this situation.

ps. my preference is still to short the pair preferably from a higher price back down but the ATW session is nearing the end so in my opinion the risk may be greater. I say may be greater because I still see the AJ pair making a nice drop down especially during London but time will tell and in either case I will probably not trade it from this account because I want the entries to be taken within the ATW session as much as possible.

pps. you are welcome to trade it though if you wish but please keep a close watch at all times if you go long (you never know the ride up might be quite nice unless it suddenly reverses)

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #46
  • Apr 6, 2016 11:48pm Apr 6, 2016 11:48pm
Quoting Masterrmind
{quote} AJ - update {image} Price has now started to show some movement UP??? What I'd like to see is price pulling up close to the pivot (may not make it there) and then short it down but as I say time may be against me today. Be careful which way you play it! Masterrmind...........
After a long downward trend note how the trending lines converge opening up the opportunity to sell the AJ pair in this case.

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Unfortunately it is now after the ATW session end time so no trades will be entered.

Masterrmind............
Master your Mind then Master your Trades
  • #47
  • Apr 7, 2016 12:44pm Apr 7, 2016 12:44pm
Quoting Masterrmind
{quote} AJ Price has been fairly fixed over the last few hours between the range 82.850 and 83.000. Note that the JPY pair has been the currency showing the greatest strength (based also on recent news announcements) which should have you searching for opportunities to go short NOT long. However, if price broke out above the support turned resistance level close to 83.100 level then longs could be considered with TPs of about 10-20 pips heading up closer to the DO line. Be careful though because you are trading against the general flow of the pair...
About the Yen, ... bloodbath today in my opinion, Options barrier ... there are now rumors in the market that the BOJ will do intervention ... I had three trades in AJ long but close all manually with some USD 4 profit in summary/ 1k account ... but I still have some UJ from some different strategy to recover, better luck in EUR/CHF (3%) and cad/jpy(2%) with Quantum.
  • #48
  • Apr 7, 2016 4:55pm Apr 7, 2016 4:55pm
Quoting togerhard
{quote} About the Yen, ... bloodbath today in my opinion, Options barrier ... there are now rumors in the market that the BOJ will do intervention ... I had three trades in AJ long but close all manually with some USD 4 profit in summary/ 1k account ... but I still have some UJ from some different strategy to recover, better luck in EUR/CHF (3%) and cad/jpy(2%) with Quantum.
A simple fix for this is to keep in tune with the market.

Listen to Bloomberg, Reuters or a live subscribed news feed as I do as this can be important!

You will need to sift through the information though and just take whats important and discard the rest which means focusing on information that is likely to move the pair you plan to trade one way or the other.

The BOJ statements though are hot in the press especially regarding the UJ pair with sub 1.10000 (sub 1.09) levels highlighted.

Now you need to make a judgement on this information in terms of will it affect the pairs you are trading and will it have an impact in the trading window you plan to trade.

Its all about being very informed, then working out what is relevant for the trades you are planning on taking!
Sometimes the answer is not clear but in the case of the JPY it was very clear!

Then you need to be aware of signs that the JPY might be losing some strength and then judge when to trade cycles biased the other way.

Masterrmind............
Master your Mind then Master your Trades
  • #49
  • Apr 7, 2016 5:09pm Apr 7, 2016 5:09pm
Friday Trading

Monitoring the NZDJPY [M5; 40] + USDJPY [M5; 40] pairs for possible short cycles.

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I've waited patiently for Tokyo Open before making any decision on potential entries.

ps. also watching the AUD + EUR pairs for any opportunities.

Masterrmind............
Master your Mind then Master your Trades
  • #50
  • Apr 7, 2016 5:11pm Apr 7, 2016 5:11pm
hi @materrmind before ı be member of ff ı was reading your posts at 00level trading thread and every day you was making daily goal and making more money with extra winner trades.and that makes huge pips when acumulated monthly.and tha makes huge money.nıw ı see you making too complicated too detailed too risky unproven system.and spending hours and making fully loaded posts
if you are not masochst, why you do that?
  • #51
  • Apr 7, 2016 5:50pm Apr 7, 2016 5:50pm
Hi Vasily,

I was asked by many members from the Quantum London Thread including the thread starter to open a thread (the other QAM trading method thread) outlining how I trade Quantum.

You are right in saying it is very involved and may certainly feel overwhelming to a new or even seasoned trader however, this type of thinking goes into all the cycles I take considering as many key factors as possible before taking cycles.

I make no excuses as to the difficulty and complexity of the QAM strategy it is how I trade it!

I have not yet got to the automated part of the strategy which most traders would find a little simpler.

The biggest issue is controlling risk on every cycle of trades taken but there is little point in doing this if the direction of trades is consistently wrong.

A small 1K account needs this level of complexity and understanding of the market unless you limit maximum trades to 1 or 2 then it can be simplified.

In the other thread I traded the Asian session with a much larger account >>$10K and the pressure on cycles is far far reduced.
Imagine trading 0.02 lots on a 1K account compared to trading 0.02 lots (I did trade much larger progressive lot sizing than this though) on a >>$10K the risk is incredibly lower in the >>10K account.

Trading QAM on an account >>$10K is less stressful and almost relaxing (just ask other traders who have used this type of account.

A 1K account trading QAM requires an enormous amount of self control, closing out trades that start to wander off track and controlling risk.
If you do not control risk very very tightly then the account will probably vanish.
This is not what I want to show here.

I plan to show careful cycles on the live account and grow it and unfortunately I do not see any shortcuts to this process.
The idea was to also have other traders provide live accounts linked to TE to trade along with me and giving out some cycles in advance so traders could start where I started and all cycles could be discussed and improvements in the thinking process made if and as required.

When it came to the crunch no traders have done this ... their choice but very disappointing nonetheless!

Time will only tell as to its success or failure!

Thank you for your comments they are appreciated but as you know I do not only trade the Quantum, it forms a very small part of my overall trading strategies of which most are based on PA, S+R, harmonics and the fundamentals (usually longer term trades but not always).

I hope that helps explain things a little better.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #52
  • Apr 7, 2016 6:19pm Apr 7, 2016 6:19pm
In pairs that have large trading ranges BUY Stops can be used.

In turtle pairs this can also be applied but is less useful because the pip ranges are usually very small so its best to simply enter at market as price heads in your favored direction such as back up towards the DO line.

The EURAUD pair is a great example.

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The idea is to place the 1st Buy stop not necessarily at the next blue Q box above price but to allow a 'gap' say above the green line.

If Buy Stops were to be applied have a 2 hour activation time set so they delete well before the end of the ATW close time.

If you plan to apply this technique then you may wish to search out an appropriate script which can be used (hot keys) to place a pending Buy Stop X pips from current price level which makes entering pending trades far easier and much faster.

Masterrmind............
Master your Mind then Master your Trades
  • #53
  • Apr 7, 2016 6:28pm Apr 7, 2016 6:28pm
Quoting Masterrmind
Friday Trading Monitoring the NZDJPY [M5; 40] + USDJPY [M5; 40] pairs for possible short cycles. {image} I've waited patiently for Tokyo Open before making any decision on potential entries. ps. also watching the AUD + EUR pairs for any opportunities. Masterrmind............
Price is still intent to remain either at the pivot or just above it.

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No sign of bearish intent yet so no entries.

We wait and we also look at other pairs that might provide earlier entries!

Masterrmind............
Master your Mind then Master your Trades
  • #54
  • Apr 7, 2016 6:58pm Apr 7, 2016 6:58pm
Quoting Masterrmind
In pairs that have large trading ranges BUY Stops can be used. In turtle pairs this can also be applied but is less useful because the pip ranges are usually very small so its best to simply enter at market as price heads in your favored direction such as back up towards the DO line. The EURAUD pair is a great example. {image} The idea is to place the 1st Buy stop not necessarily at the next blue Q box above price but to allow a 'gap' say above the green line. If Buy Stops were to be applied have a 2 hour activation time set so they delete well...
Some pending Buy Stops entered with a 2 hour expiry.

Masterrmind............
Master your Mind then Master your Trades
  • #55
  • Apr 7, 2016 10:10pm Apr 7, 2016 10:10pm
Hi Masterrmind,

Yen is getting stronger today ... I was be able to close some of my UJ longs ... as I watch your EURAUD chart and your BuyStop idea ... after Tokyo open I could see 11 or 12 possible Quantum long entries in your chart ... the green line coming out of some Indicator or you calculate it ... but it is tempting to go long with an first pos
  • #56
  • Apr 8, 2016 12:11am Apr 8, 2016 12:11am
Quoting togerhard
Hi Masterrmind, Yen is getting stronger today ... I was be able to close some of my UJ longs ... as I watch your EURAUD chart and your BuyStop idea ... after Tokyo open I could see 11 or 12 possible Quantum long entries in your chart ... the green line coming out of some Indicator or you calculate it ... but it is tempting to go long with an first pos
Be careful with the EURAUD pair as its a volatile and can and will move very fast at times so you have to be monitoring it all the time.

Buy Stops on a fast moving pair like the EA can be ideal because usually there is plenty of room to space them out.

Limit Orders can also be applied either Buy or Sell which will allow you to place pending orders just below a pivot in the case of a sell limit order or just above key support (or a pivot) in the case of a Buy Limit order.

Later we'll start looking at applying some scripts on certain pairs because it makes the ordering process much neater and a whole lot faster.
Try place multiple pending Buy/Sell Stops or limit orders manually on MT4 with price, SL and TP and it will drive you crazy.

Going long on the 1st Q box then 2, 3, 4, 5, 6 etc works well on the >>10K account but you need to be more selective on a 1K account or I tell you it may lead to a dangerous cycle.

Sometimes 1-2 Q boxes get printed and then price turns on a dime (very quickly) other times it keeps printing out boxes all the way to a pivot and then stops and then it can simply just keep printing out boxes .... basically know your risk and protect your account.

Perhaps max $50 -$100 per cycle is as much as you'd want to risk baring in mind that you do need to give the cycle some breathing space but not at the expense of killing the account in 1-2 cycles in the event you are wrong both times.

ps. New traders should trade only 0.01 lots per entry and then only 2-3 trades max per cycle but that's up to them!

Masterrmind............
Master your Mind then Master your Trades
  • #57
  • Apr 8, 2016 12:11am Apr 8, 2016 12:11am
Quoting Masterrmind
{quote} Some pending Buy Stops entered with a 2 hour expiry. Masterrmind............
All buy stops expired!

Masterrmind............
Master your Mind then Master your Trades
  • #58
  • Apr 8, 2016 12:16am Apr 8, 2016 12:16am
Friday Summary of cycles

Short cycles on AUDJPY [M5; 40 - manual] and AUDUSD [M5; 40 - manual]

2 cycles

+42.6 pips (@ 0.02 lots/trade)

+0.8% net gain
Attached Image


Note: 4 trades left to run in an attempt to nurse them into profit however with London Open looming decided to close them out reducing the profit.

Weekly net gain = +0.9%

Have a great weekend!

Masterrmind...........
Master your Mind then Master your Trades
  • #59
  • Apr 8, 2016 5:01am Apr 8, 2016 5:01am
Follow up on trades or cycles taken on Friday April 8 ..........

AUDJPY [M5; 40 - manual]

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AUDUSD [M5; 40 - manual]

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USDJPY [M5; 40 - manual]

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The annotated charts above contain many gems so I suggest you spend some time understanding what has occurred!

Please take note of where I closed out the losing trades since if I left the trades to run the DD would have been much much larger as price trended UP.

Questions are welcome provided they contain constructive criticism especially if you think the trades could have been managed more effectively!

I think under the trading ranges and PA across the chart of the 2 pairs that the cycles were managed quite well remembering that I do not have the right hand side of the chart to refer too when trading live!

ps. I do not plan on making full detailed commentary on my cycles since this is best left for the other thread however I invite questions to be asked and other explanations of cycles taken will be detailed but most likely less frequently.

Masterrmind.............
Master your Mind then Master your Trades
  • #60
  • Apr 9, 2016 9:26pm Apr 9, 2016 9:26pm
The following is a direct link to my QAM-1K Live account on myfxbook which will also outline all the trades taken on this 1K journey so please feel free to peruse it and analyze the data as time progresses at your own leisure!

https://www.myfxbook.com/members/MAS...k-live/1583706

The QAM live trading account is now visible on the TE and myfxbook (track record + trading privileges verified)

It is never too late for other Quantum traders to link their live accounts and trade along too ... if you wish!

Risk Warning:

The QAM trading strategy is classified as a 'risky' trading method so please do not trade QAM with money you cannot afford to lose!
Although it is my strong intention to show a progressively profitable account no guarantees can or will be made as to its ongoing profitability!

Time will be the ultimate decider in this case!

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
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