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QAM Trading Journal $US1000 to ???

  • #561
  • Jun 13, 2016 6:29am Jun 13, 2016 6:29am
Quoting Shuael
{quote} You are absolutely right! i was "laughing" because we didn't think about it earlier And thank you for the pair analysis scheme, you said all of this but have it on just one post is helpfull. Thanks, ps. It is also usefull on my C aggressive trades ( infact i'm studying just few pairs to be confident with them)
Just be careful with the C-aggressive entries to tighten up the stop as price goes in your favor.

If it heads the other way give it a little bit of space but not too much even if it means cutting it for a small loss because you can always re-enter again at a 'better' location after you have re-assessed the PA on the chart.

Look for pushes away from pivot points or key handles (000 numbers etc) and Fib ratios that create confluence as these will add to the probability of winning the trade!

ps. finding the right micro/nano broker is proving rather interesting!

Masterrmind............
Master your Mind then Master your Trades
  • #562
  • Jun 13, 2016 6:57am Jun 13, 2016 6:57am
AJ - aggressive C-Buy with nice 618 retracement

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB


One that could have been made but not without some obstacles on the chart in the form of mWS1 (mid weekly support level) and the high formed at B on the way UP.

Look for hesitation to price closer to the DO line too as price could reverse back down from this area or breakup through and hit your TPs.....

ps. there are many available the idea is to look for the best ones and trade them.

Masterrmind...........
Master your Mind then Master your Trades
  • #563
  • Jun 13, 2016 8:36am Jun 13, 2016 8:36am
Quoting Masterrmind
AJ - aggressive C-Buy with nice 618 retracement {image} One that could have been made but not without some obstacles on the chart in the form of mWS1 (mid weekly support level) and the high formed at B on the way UP. Look for hesitation to price closer to the DO line too as price could reverse back down from this area or breakup through and hit your TPs..... ps. there are many available the idea is to look for the best ones and trade them. Masterrmind...........
AJ - price doesn't always travel in a straight line (in fact it almost never does)

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


The journey to TP was rather awkward which doesn't surprise me considering the position of the ABCD pattern on the chart. Far better to attempt a long entry if such a pattern was just above the DO line or just above a key level of support (for a long entry that is and opposite for a short).

ps. 1st TP outlined hit but you would have needed to leave your stop well back!

pps. a failed ABCD pattern occurs in the case when price breaks down below the A point so a stop at least 5-10 pips below A is the norm however most traders tend to move the stop up quickly to follow price until the market takes out their stop but leaves them with net profit.

Masterrmind...........
Master your Mind then Master your Trades
  • #564
  • Jun 13, 2016 1:58pm Jun 13, 2016 1:58pm
Quoting Masterrmind
{quote} Just be careful with the C-aggressive entries to tighten up the stop as price goes in your favor. If it heads the other way give it a little bit of space but not too much even if it means cutting it for a small loss because you can always re-enter again at a 'better' location after you have re-assessed the PA on the chart. Look for pushes away from pivot points or key handles (000 numbers etc) and Fib ratios that create confluence as these will add to the probability of winning the trade! ps. finding the right micro/nano broker is proving...
Thank you Masterrmind for your time and explanations.
I don't want to write an off topic post but i will just show you what i'm thinking when taking an C aggressive trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_USD_JPY_7 Days_snapshot.png Size: 49 KB


My favorite conditions are:

- Slow PA in one direction
- Change of the price ( A rapid change with strong momentum)
- A retracement of 61.8 of the swing. This potential trade zone should be near a support/resistence /structure
- PA showing weakness near the fibo zone
Then, if i find a perfect price to enter i will, if not i usualy leave the trade.

I'm usually afraid of 38.2 fibo retracement, even if it has some strucure behind, it fails a lot.
I'm more confident when my favorite conditions are in ( i don't know if this is more profitable )
Usualy i'm looking for the price to retest the previous highs /lows as my initial target, sometimes it reverse there.
But i almost never let the price to reach the target
As you could see from the trades i've sent you, i leave little room to the trade to devolop and usualy put the SL ant BE and lock the profit too early, which cost me some %. I need more experience.
Unfortunately during the summer i have little time to trade, i have a 7/7 work.
Thinking to move to 4h during summer.
Infact i've made only 2 trades , i'm almost BE, spread costs
Attached Image (click to enlarge)
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P,s Closed the trade too early

Another important think that i'm noting is that 1-2 h before London opens there is very often a potentian C aggressive trade to take on USD/JPY EUR/JPY EUR/USD
But need to do some research still

P.S About the position of the AB = CD pattern, i was thinking the same, infact i will start to look also at the price on 4h chart to get a general idea, and marking 1D /1W strucuture should be essential too.
  • #565
  • Jun 13, 2016 6:10pm Jun 13, 2016 6:10pm
Quoting Masterrmind
AJ - aggressive C-Buy with nice 618 retracement {image} One that could have been made but not without some obstacles on the chart in the form of mWS1 (mid weekly support level) and the high formed at B on the way UP. Look for hesitation to price closer to the DO line too as price could reverse back down from this area or breakup through and hit your TPs..... ps. there are many available the idea is to look for the best ones and trade them. Masterrmind...........
AJ - ABCD update

Attached Image (click to enlarge)
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Both demonstration TPs hit and outlined well in advance!

Masterrmind...........
Master your Mind then Master your Trades
  • #566
  • Jun 13, 2016 6:21pm Jun 13, 2016 6:21pm
Quoting Shuael
{quote} Thank you Masterrmind for your time and explanations. I don't want to write an off topic post but i will just show you what i'm thinking when taking an C aggressive trade. {image} My favorite conditions are: - Slow PA in one direction - Change of the price ( A rapid change with strong momentum) - A retracement of 61.8 of the swing. This potential trade zone should be near a support/resistence /structure - PA showing weakness near the fibo zone Then, if i find a perfect price to enter i will, if not i usualy leave the trade. I'm usually afraid...

Discussion and examples of ABCD and other patterns are also used in the QAM Method and will be discussed over here:

Q A M Trading Strategy thread: http://www.forexfactory.com/showthread.php?t=580721

So feel welcome to post and discuss in that thread if you wish and we'll continue in greater detail!

ps. these type trades can and are applied in the QAM Method and are usually taken or can be taken as internal or recovery type trades whilst a Quantum cycle is active.

Masterrmind............
Master your Mind then Master your Trades
  • #567
  • Jun 14, 2016 11:40pm Jun 14, 2016 11:40pm
EURAUD

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1 short trade closed out for US$9.66

Immediately replaced by a Sell Limit order with identical settings (entry, SL + TP) as the trade it replaces.

This serves the purpose of adding profit to the account as well as entering the market again in the short direction should EA pair rise up again.

Masterrmind..........
Master your Mind then Master your Trades
  • #568
  • Jun 14, 2016 11:53pm Jun 14, 2016 11:53pm
Quoting Masterrmind
EURAUD {image} 1 short trade closed out for US$9.66 Immediately replaced by a Sell Limit order with identical settings (entry, SL + TP) as the trade it replaces. This serves the purpose of adding profit to the account as well as entering the market again in the short direction should EA pair rise up again. Masterrmind..........
EURAUD

Attached Image (click to enlarge)
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Another short closed out for some profit and immediately replaced by a Sell Limit order (identical settings)

Masterrmind...........
Master your Mind then Master your Trades
  • #569
  • Jun 14, 2016 11:56pm Jun 14, 2016 11:56pm
Now 3 by AJ longs in progress

Now 1 by EA short in progress

Pending 3 by EA shorts and 1 by AJ long

Need to be aware of the imbalance (if any) and seek to reapply more trades if necessary.

Masterrmind.............
Master your Mind then Master your Trades
  • #570
  • Jun 15, 2016 5:26am Jun 15, 2016 5:26am
Quoting Masterrmind
Now 3 by AJ longs in progress Now 1 by EA short in progress Pending 3 by EA shorts and 1 by AJ long Need to be aware of the imbalance (if any) and seek to reapply more trades if necessary. Masterrmind.............
AUDJPY

3 current shorts running

1 pending Buy Stop (not yet triggered)

EURAUD

1 short trade closed out for profit
1 recently triggered Sell Stop closed out.

Reason: D1 longer term potential turning point (major obstacle) .... will stay out of EA until the market shows the way!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 29 KB


2 pending Sell Limit orders

No current orders open on EA pair.

Masterrmind............
Master your Mind then Master your Trades
  • #571
  • Jun 15, 2016 6:52am Jun 15, 2016 6:52am
EURAUD

All pending orders deleted for the time being subject to further chart analysis including ongoing Brexit considerations!

Masterrmind...........
Master your Mind then Master your Trades
  • #572
  • Jun 15, 2016 10:16pm Jun 15, 2016 10:16pm
AJ

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 31 KB


2 Buy Stops just added above the 78 handle.

The wide open space below current price and the lower stops is a potential high lot recovery zone which may come into action subject to certain lower levels being taken out by PA.

ps. plenty of mixed news around today on both the AUD and the JPY currencies so it is best to wait patiently!

Masterrmind............
Master your Mind then Master your Trades
  • #573
  • Jun 15, 2016 11:58pm Jun 15, 2016 11:58pm
Quoting Masterrmind
AJ {image} 2 Buy Stops just added above the 78 handle. The wide open space below current price and the lower stops is a potential high lot recovery zone which may come into action subject to certain lower levels being taken out by PA. ps. plenty of mixed news around today on both the AUD and the JPY currencies so it is best to wait patiently! Masterrmind............
AJ

3 staggered Sell Stop orders placed (just below the 77 handle) at high relative lot (modest SLs)

Further trades or reduction in some trades may occur but will be outlined in due course.

If the relatively high lot shorts get triggered they will be left to run however, stops will be progressively tightened.

ps. JPY has plenty of strength at the moment?

Masterrmind...........
Master your Mind then Master your Trades
  • #574
  • Jun 17, 2016 9:00am Jun 17, 2016 9:00am
Quoting Masterrmind
Lot sizing potentially solved in the QAM Strategy. Simply need to find a suitable broker that allows for nano type lot sizes but trading from an initial 1K balance.............. I strongly encourage your valuable input. Masterrmind...........
++++++++++++++++++++++++++++++++

Hi MM. imho, Oanda is the perfect solution for your broker choice. With one exception, 50:1. However I'm in US, so that's the law. (allegedly for my protection.... ).

Here's how it works:
1. Oanda's proprietary platform is where this feature is available. Not on their MT4.
2. Underneath each pairs window, is a field called "Units". You can select any size trade you want, in increments of $1, or 1/1000 of a micro.
OR
... you can go into 'Tools--> User Preferences' and select how you want to trade each pair, either by fixed Pip size, or fixed % of account size. Applied to both trade size and TP & SL, included tick by tick Trailing Stop, if you choose.

All of this is great, with one more caveat; their proprietary platform charts are very basic, and do not lend themselves to very extensive chart analysis, IMHO. Perhaps I simply haven't taken the time to do much exploring about that, so I may be incorrect in this point.
That being said, I do love the fact that slippage is extremely rare.

One of the best traders I know, gave me the rundown on Oanda a few years ago. He showed me tons of info on how reliable they are, compared to ANY other forex brokers, at least those available for US citizens. They remain solvent and trustworthy, and do not simply dismiss client claims as frivolous. 2¢
Attached Images
  • #575
  • Jun 17, 2016 9:50am Jun 17, 2016 9:50am
A comment on your use of fibs;

After watching and reading some of Steve's (at No Brainer Trading) analysis, he uses a 92% fib, which is almost the same as the actual 88% fib. Since adding that to my fib tool, I've noticed that area does command some respect. Price will often hit that level and experience some amount of s/r for a retrace.

Part 2 of this scenario, is that I also have observed the retrace is almost always followed by a breach of 100%.

I just took advantage of that fact @ the precise proper time in trade below. (Luck for sure timing wise)... But it netted 20 pips in about 2 min.

The 1st pic is showing the fibs for this week on GU H1 chart. The 2nd pic shows what the actual trade looked like on an Oanda proprietary 1M chart.
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Click to Enlarge Name: GU Long Using 88 percent.jpg Size: 232 KB
  • #576
  • Jun 17, 2016 9:51am Jun 17, 2016 9:51am
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ Hi MM. imho, Oanda is the perfect solution for your broker choice. With one exception, 50:1. However I'm in US, so that's the law. (allegedly for my protection.... ). Here's how it works: 1. Oanda's proprietary platform is where this feature is available. Not on their MT4. 2. Underneath each pairs window, is a field called "Units". You can select any size trade you want, in increments of $1, or 1/1000 of a micro. OR ... you can go into 'Tools--> User Preferences' and select how you want to trade each...
Many thanks for that diamonddbw it is appreciated.

I'll check them out for sure however, I do not think the 50:1 leverage will suit the Quantum style method of trading.

It is DD thirsty!

The main issue I'm having finding a suitable broker is actually how well regulated they are and their reputation.

No guarantee that the account is going to make the big numbers however, it would be nice to know that if such a level was hot that the funds would be easily withdrawn.

This is because once the account starts trading I do not plan to make any further deposits (apart from the initial US$1000) and certainly no withdrawals so its a longer term mission.

I'll have a good search this weekend and see where it leads me including checking out the one you suggest although apart from the dismal 50:1 leverage the other issue is I need to be able to run MT4 Expert Advisors which it appears their platform won't be able to accommodate.

Lets see what I find in either case.

Thanks again I appreciate your post

Masterrmind............
Master your Mind then Master your Trades
  • #577
  • Jun 17, 2016 9:59am Jun 17, 2016 9:59am
Quoting diamonddbw
A comment on your use of fibs; After watching and reading some of Steve's (at No Brainer Trading) analysis, he uses a 92% fib, which is almost the same as the actual 88% fib. Since adding that to my fib tool, I've noticed that area does command some respect. Price will often hit that level and experience some amount of s/r for a retrace. Part 2 of this scenario, is that I also have observed the retrace is almost always followed by a breach of 100%. I just took advantage of that fact @ the precise proper time in trade below. (Luck for sure timing...
Nice work and 20 pips in the bag is great no matter how it gets put in there!

If you search around you'll find many different Fib ratios used by many different traders.

I've pretty much used the same ones for years but also had to apply PA analysis before committing to an entry.

No such thing as luck .... you are simply gifted ........ !

Masterrmind...........
Master your Mind then Master your Trades
  • #578
  • Jun 17, 2016 10:23am Jun 17, 2016 10:23am
Quoting Masterrmind
{quote} ........ I do not think the 50:1 leverage will suit the Quantum style method of trading. It is DD thirsty! The main issue I'm having finding a suitable broker is actually how well regulated they are and their reputation. No guarantee that the account is going to make the big numbers however, it would be nice to know that if such a level was hot that the funds would be easily withdrawn. This is because once the account starts trading I do not plan to make any further deposits (apart from the initial US$1000) and certainly no withdrawals so...
++++++++++++++++++++++++++++++++

I know that Oanda also operates in Canada. The leverage may be different there. In fact I believe Canada limits are 200:1.

Regarding Broker integrity, I'm still convinced that Oanda is at least, one of the top ones, in that department. They were the largest broker until #FXCM began buying up many smaller brokers. However their rapid expansion (fxcm) came back to bite them, and created a solvency issue, which continues, as noted by their stock price which tends to show manic/depressive traits. That combined with the fact that their (fxcm) MT4 platform can freeze for up to 30 minutes at a time. Slippage is beyond atrocious! I've quit them 3 times. The 1st time, was do to extreme slippage. The 2nd & 3rd time was because they bought out brokers I was using. If I had to choose only one word that expresses my opinion of fxcm, it would be (expletive deleted).
  • #579
  • Jun 19, 2016 5:54am Jun 19, 2016 5:54am
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ I know that Oanda also operates in Canada. The leverage may be different there. In fact I believe Canada limits are 200:1. Regarding Broker integrity, I'm still convinced that Oanda is at least, one of the top ones, in that department. They were the largest broker until #FXCM began buying up many smaller brokers. However their rapid expansion (fxcm) came back to bite them, and created a solvency issue, which continues, as noted by their stock price which tends to show manic/depressive traits. That combined...
Looks like Oanda will not suit the account requirements based on the needs for the QAM Strategy!

Looks like most brokers I've investigated so far have an issue with lot sizing smaller than 0.01 lots (eg 0.001) due to the MT4 minimum lot setting of 0.01 which simply means that lot sizes smaller than 0.01 lots can't be traded.

Started looking at cent accounts that could handle a 1K starting balance and at least a growing balance to at least $5K-$10K.

No luck finding such a broker yet so the search continues!

Masterrmind...........
Master your Mind then Master your Trades
  • #580
  • Jun 20, 2016 9:13am Jun 20, 2016 9:13am
QAM-1K Live account - update

Patiently monitored and traded from time to time as required.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB


Tomorrow the account may be traded a little more aggressively if reasonable setups present themselves.

As of this moment the balance is US$1085.17 (floating DD of about US$79).

The objective will be to take 0.1 lot trades to counter the floating DD and minimize it as much as possible well before the end of the week.

The AJ pair has resumed an upward trend at the moment which benefits the floating DD.

Although the main priority is to have a net positive account again with no current floating DD.
It would be preferable to close some of the distance between current equity and where the trading account should be.....

Which is about +32% gain meaning equity would need to be about US$1322.21 (based on 0.5% daily rate over 56 trading days).

Perhaps a tall ask but I'll see what I can do to at least close some of the gap!

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