What is your risk management on the 4hr and daily? Do you Enter on the 4hr, or drop to lower tf? Any suggestions for SL and TP? THANX in advance......interesting concept btw....
What is your risk management on the 4hr and daily? Do you Enter on the 4hr, or drop to lower tf? Any suggestions for SL and TP? THANX in advance......interesting concept btw....
Ignored
hi, stops to the entry bar high/low, but i am only trading off daily now. depending on trade size>acc size you should follow the the 1-5% rule based on the figure to the last high/low you will know risk about for your trade size.
if your make it or break it trader... highs and lows are the sl areas. ignoring risk management.
made a few mad man trades acc was down 50% due to it... recovered it all today with extra trades... moved to daily had a few nice daily trades opened yesterday and closed today.
DAX example attached. this idea still goes well on 15m-4h but i prefer daily and 4H as takes 30min of time to make trades or set orders. then come back a day later... no need to be constantly checking.
Lukas,to make your system betteradd this rule:
#1 after CCI make a higher low,and price hit lower BB,wait for price to close back withing the BB,and waitfor CCI to close above the 0 level.
Place your buy stop above the signal bar, stop loss below the last swing low.
do not place TP, follow the trend with a trailing stop below the last swing low.
Attached Image (click to enlarge)
he, alone, was to blame for his losses in the zero-sum game
Been a while happy to some members got something out of it.
I am sticking with 2x CCi and BB. went back to demo for a few months and turned a few 50K accs into 70+ and 80+ so now back trading live with EightCap. while started well same mental demons came back and started making mistakes. Then took a fat finger and wreaked my acc. While the method works I don't at times!
will start updating again daily and 4H trades. I have started adding hidden divergence to the mix.
I have a two silly trades open as I didn't wait for daily bar to confirm (close) big nono. but i'm in them so till SL or TP do we part.
SCALPING 1M To filters some bad signals,add the next rule :Buy market order after the first price close above the 20 SMA {image} {image}
Ignored
well done on the returns! while i'm not following top stuff! keep your head in check.
So I attached my trashed TE so we can all see what happenens when you mentally drop the ball. It's a good reminder of why the mind is just so important in trading. I am going to make a new deposit and get this going agin. as I have seen good returns while I traded properly.
several more dumb trades last Friday 15 on JPN225. mind is cooked atm. going to sit off till a true trade presents.
turned this into a journal as it more dedicated to tracking my progress on the daily and 4H using this BB divergence method. my other demo that had no metal break down made 39K this month. the difference from demo o live is just so big
Pulled a DAX 1min trades tonight... not that i should be... overall positive night but it's fools gold. get a few wrong day is over. that can lead o your mind being over for the week.
back to BBDIV
some good trades yesterday. AUDUSD sell and US30 worked very well GBPAUD buy started well but GBP selling put pressure on it so was outwith a smaller gain.
Gold today is still valid so holding this buy. sell on EUR/GPB was an average trade as it didn't confirm properly. have taken a continuation buy on it. sttill suffering mind issues.
mixing 4H with daily helps curb the need to trade faced at times only focusing on the Daily.
I'm still trading rather tiny while i get my trading mind back in gear. Today followed my rules 100% happy with that. Hope to get back to .1-.6 in the near future but baby steps for the time being. Goal for the end of the month is to finish with 110-150$ or more in profit.
took a few gap based trades today and HL on gold. exited all. gaps can be very strange they tend to either keep falling away or try a fill. today after the lows where rejected a few times i pulled the plug on jpy sells . EURJPY was a return that saved the day. i am trying to follow my plan while treating my live like i treated my demo mentally. not caring about $$ and worrying about my balance!
