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Q A M Trading Strategy

  • #1,061
  • Jun 14, 2016 9:16pm Jun 14, 2016 9:16pm
Quoting Masterrmind
{quote} AUDUSD - update {image} Manual close be considered at the level shown on the chart or alternatively at 25 pips or greater. Lets see! ps. TP level shown lower down represents a 50 pip take profit! Masterrmind...........
AUDUSD -update

Trade eventually taken out for a little better than BE.

Comparisons can also be made between the time it took leg AB to develop relative to the CD leg.
If the PA is slow or relatively flat always give it a chance but lock in at least some profit to protect the trade.

Bullish reversal back up to the DO line resulting in trade closure.

I see no point in reversing the SL back out beyond Point A and only time will tell if this would have provided a 'better' trade.
Allowing the stops to remain out so wide also creates an element of risk.

In the case of higher lot to account balance/equity ratios it is usually wiser to lock in profit sooner rather than later.

Onto the next setup............

Masterrmind............
Master your Mind then Master your Trades
  • #1,062
  • Jun 14, 2016 11:07pm Jun 14, 2016 11:07pm
Quoting Masterrmind
{quote} AUDUSD -update Trade eventually taken out for a little better than BE. Comparisons can also be made between the time it took leg AB to develop relative to the CD leg. If the PA is slow or relatively flat always give it a chance but lock in at least some profit to protect the trade. Bullish reversal back up to the DO line resulting in trade closure. I see no point in reversing the SL back out beyond Point A and only time will tell if this would have provided a 'better' trade. Allowing the stops to remain out so wide also creates an element...
What is the scenario of NZD data releases today making impact on movement of AUDUSD?

Is that the reason you got out?
Practice makes a person perfect
  • #1,063
  • Jun 14, 2016 11:25pm Jun 14, 2016 11:25pm
Quoting simnz
{quote} What is the scenario of NZD data releases today making impact on movement of AUDUSD? Is that the reason you got out?
Hi simnz,

Reason for exit was being taken out by the market due to tightening of the SL (BE + a few pips).

When PA flattens out alot or takes a greater time to cover the same price levels (ie pip count) then I give price room to breathe (to move) but I usually (not always) lock in some profit even if its BE + a few small pips.

Awareness of news is a given especially on related or impact likely currency pairs against the AUD.

Sometimes you have to tighten up the stops to reduce risk .... traders choice.

ps. NZD news certainly need to be aware!

Masterrmind............
Master your Mind then Master your Trades
  • #1,064
  • Jun 15, 2016 1:40am Jun 15, 2016 1:40am
Projected Potential Setups [PPS]

Here is a setup on the EJ pair.

EURJPY [M5; post PPS]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


The idea is to look for possible setups leading into the future.

I call them projected potential setups.

I was meant to post this earlier but other business took hold at the time.

Nevertheless, it is a great example of an ABCD setup with an expected bounce off the DO line.

Note 1: The C and D points are orange to indicate uncertain final positioning

Note 2: The blue trendline leg for CD is set for easy movement around the chart until it can be anchored at its final resting place.

Note 3: If price drops deeper for the start of the C leg then you simply adjust the blue trendline leg down and follow the price action (PA)

Would have been a nice trade!
But there will always be plenty more so lets start searching ........

Masterrmind............
Master your Mind then Master your Trades
  • #1,065
  • Jun 15, 2016 1:46am Jun 15, 2016 1:46am
London Open not far away.....

Has any trader found a Projected Potential Setup [PPS]?

ps. prefer a PPS from the 13 pairs if possible.

Masterrmind...........
Master your Mind then Master your Trades
  • #1,066
  • Jun 15, 2016 1:58am Jun 15, 2016 1:58am
EURJPY

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB


Fib expansion tool applied looking for possible zones of price exhaustion but in confluence with other factors to give our setup more credibility!

Masterrmind..........
Master your Mind then Master your Trades
  • #1,067
  • Jun 15, 2016 1:59am Jun 15, 2016 1:59am
Any trader found a PPS yet??

Masterrmind............
Master your Mind then Master your Trades
  • #1,068
  • Jun 15, 2016 2:12am Jun 15, 2016 2:12am
AUDNZD [M5; PPS]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB


1. Price has pulled back to the 38.2 Fib
2. Price is currently under the DO line
3. However, price is above the Daily pivot point so some degree of care needs to be taken
4. if price drops down onto the DP again what do you expect? What happened only recently at this same level?

Note the floating CD leg (black trendline on right hand side it is not anchored yet because PA might still move around)
Follow the PA!

Assess external factors such as news!
Form an opinion based on time from event and likely impact!

The answer is not supposed to be easy so don't go searching for one.
Collect the information that you do know and form an expectation and then act on it.

If the pair looks too 'risky' ... keep it simple by moving onto another pair!

Masterrmind............
Master your Mind then Master your Trades
  • #1,069
  • Jun 15, 2016 7:10am Jun 15, 2016 7:10am
Hi all , i'm still lookg to EUR/JPY pair.
On the 15min chart there is a possible short position to take. But i expect the price to move higher ( following the longer term retracement)
For this reason i will just watch PA, let's see what happen.
Wont enter the trade, dont' have time to monitor it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.png Size: 83 KB


The ABCD / ab = cd patterns are my favorite to trade. I feel more confident and for now they resulted more profitable for me.
I read your posts time ago on the MR.pip thread, you had/have nice results with these kind of patterns, learning a lot , thank you.
I still need to learn to take into consideration all the stuff you do

What are your plans about QAM? Are you waiting for the long term cycle to complete?
Shuael
  • #1,070
  • Jun 15, 2016 8:56am Jun 15, 2016 8:56am
Quoting Shuael
Hi all , i'm still lookg to EUR/JPY pair. On the 15min chart there is a possible short position to take. But i expect the price to move higher ( following the longer term retracement) For this reason i will just watch PA, let's see what happen. Wont enter the trade, dont' have time to monitor it. {image} The ABCD / ab = cd patterns are my favorite to trade. I feel more confident and for now they resulted more profitable for me. I read your posts time ago on the MR.pip thread, you had/have nice results with these kind of patterns, learning a lot...
These other trading techniques are all part of the QAM Strategy.

Their purpose is to provide additional techniques that a trader can apply as required or at their leisure to gain more profit or to use for recovery.

The longer term trades on QAM are to gain some profit to bring the account back to where it should be or at least in profit.

With Brexit just around the corner I took the liberty of taking profit from all the EA trades and deleted all the pending orders until further notice to reduce the risk on the trading account. The AJ longs are still in action though but will be monitored closely although they will be left to run overnight until in profit or until other trades are taken to compensate for any loss.

As you might have gathered the Quantum style of trading is NOT my main trading strategy.

I apply the fundamentals and sentiment to technically analyzed entries using PA, ABCD patterns, Harmonics and several other techniques.
It is highly unlikely that I would start a thread that shows how my main trading strategies are applied.

The reason for the QAM thread was due to multiple PMs and a request from the original Quantum London Trading thread starter Scott (Mer).
They wanted an insight into trading the Quantum Method in the Asian session and hence the QAM thread but I trade Quantum (yes even now) with an account very much larger than 10K which is what I did back in the Quantum London Trading thread days and now I've had this idea of attempting to grow a 1K account and its proving rather difficult and very challenging. The idea was to help those with smaller starting balances so anyway I'm in the thick of it now and will see where it leads.

Otherwise I would not have started one as it is very time consuming even with the obvious lack of participation (no-one wants to learn the ropes they only appear to be interested in making riches fast and thats a huge mistake).

I hope you spend alot of time going through Mr Pips (Damian) material (concentrate on his videos and his posts because many other posts in the thread are tainted with inaccuracies or time consuming gossip) because he has a good grasp of technical trading using PA, harmonics and order flow and he is the real deal as far as trading goes.

Personally, in my main trading I tend to go alot deeper especially for longer term trade setups which is when the economics and fundamentals start to play a bigger role in my opinion and I strive to get as much probability on my side as possible of winning a trade!

The basic concept of the ABCD pattern and the 1 to 1 legs is very easy to understand diagrammatically.
However, the correct application of the pattern is something that takes quite a lot of detailed work and experience to get right.

If you can truly master this pattern and are very aware of chart structure and all the obstacles on the chart (pivots, S+R etc etc) and a good graps of the fundamentals (for longer term setups) then you will probably do very well in your trading and NOT really need anything else except very good MM and risk control.

You will not be wasting your time learning PA and the ABCD pattern (later you can extend yourself into Harmonics and complex patterns but you may not really need it)

ps. EJ is still happy to drop through the floor at the moment so shorting it looks ideal!

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #1,071
  • Jun 15, 2016 11:17pm Jun 15, 2016 11:17pm
EURAUD [M5; PPS]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB


Waiting for price to drop a little (if it does) and then to consider an aggressive C-Buy.

If you were super aggressive you might apply a Buy Limit order close to your preferred level.

If price drops down (its currently resting on midR level) I tend to like the look of the 50 to 61.8 levels (Pivot Point and DO line)

Observation time!

ps. I'll post a few more leading up to London Open.

Masterrmind............
Master your Mind then Master your Trades
  • #1,072
  • Jun 15, 2016 11:36pm Jun 15, 2016 11:36pm
AUDUSD [M5; PPS]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB


Plenty of options here!

Note 1: the floating CD legs (orange color to signify that they are not yet anchored)

Note 2: the SLs are a traders choice so you can place them up high and then aggressively shorten them or you can use 5-10 pips above the C leg.

Note 3: alot depends on the pair and the session regarding appropriate SL location (I tend to use wider SLs unless I'm trading very high lots)

Masterrmind............
Master your Mind then Master your Trades
  • #1,073
  • Jun 16, 2016 1:25am Jun 16, 2016 1:25am
I watched and read all fo the Mr. Pip's Material, very usefull indeed.
Practicing it every day.
In conjunction with pair analysis , session, pivots, DO i should get i clear idea how the price is more likely to move.
Do you use Limit orders? because i prefer to monitor the PA to get the general idea of the momentum.
A limit order resul too aggressive for me.
Shuael.
P.s You were right about EUR/JPY
  • #1,074
  • Jun 16, 2016 6:15am Jun 16, 2016 6:15am
Quoting Shuael
I watched and read all fo the Mr. Pip's Material, very usefull indeed. Practicing it every day. In conjunction with pair analysis , session, pivots, DO i should get i clear idea how the price is more likely to move. Do you use Limit orders? because i prefer to monitor the PA to get the general idea of the momentum. A limit order resul too aggressive for me. Shuael. P.s You were right about EUR/JPY
Yes plenty of great material for sure and well worth going over several times.

It is from a technical point of view though and has no economic and fundamental information.

Depending on how you absorb the material and how quickly I would suggest that in the future you also learn about the key drivers of the currency markets and especially what drives one pair compared to another.

I use every type of order you can imagine as each has its purpose whether its Buy Stop, Sell Stop, Buy Limit, Sell Limit, OCO or any multitude of other orders and strategies.

Its a great idea to be familiar with them and know how too and when too apply them.

Be careful with momentum though because the longer the TP the less likely the momentum is to keep going ... eventually it dries up and as a trader you never really know when this will happen. So you follow it and watch the order flow and the PA and slip and keep the SL on a continually short leash!

I suggest you follow or subscribe to a live news feed one day as the information can be quite rewarding and useful if you think before you apply it.

The JPY strength would have been quite straight forward so shorting the EJ pair and several other JPY pairs would have been ideal.

Most times I tend to monitor the PA across the chart and then strike with an at market entry after some form of bearish intent to the downside or bullish intent to the upside as the case may be.

A limit order has the disadvantage of eliminating all the powerful observation carried out by the trader before entering the market!

You need to be very confident when applying them but there are plenty of examples when they work well.

I'll keep a watch out for some limit order examples and post a few here in advance of the TP so its fresh and live (not hindsight glory trades)

Masterrmind.............
Master your Mind then Master your Trades
  • #1,075
  • Jun 16, 2016 9:04am Jun 16, 2016 9:04am
well........



i did warn you about trading this week.




#SipsTea!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #1,076
  • Jun 16, 2016 12:40pm Jun 16, 2016 12:40pm
I'm always aware of incoming news but i try to avoid them at any cost, even if i can understand what the information is about i can't use it to my advantage.
With long term trades you certainly have to take in consideration the fundomental analysis.
I use several sources to get the information from, but it's just for my personal knowledge, never tried to use it in trading

Some possible set ups i've found:

AudJpy ( similar to other Jpy pairs also)
Changed my expectations
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.png Size: 95 KB


Gbpusd
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 77 KB


On days like this with a lot of news i usually don't trade.
Thank you
  • #1,077
  • Jun 16, 2016 3:13pm Jun 16, 2016 3:13pm
how come in the quantum thread you had nothing but winning trades, yet now that your explorer is up its such a different sight?
Idk but You seem to be struggling a lil bit here bro, anyway i hope things are going better in your >>$10K account(real-demo?)
  • #1,078
  • Jun 16, 2016 10:37pm Jun 16, 2016 10:37pm
Quoting Shuael
I'm always aware of incoming news but i try to avoid them at any cost, even if i can understand what the information is about i can't use it to my advantage. With long term trades you certainly have to take in consideration the fundomental analysis. I use several sources to get the information from, but it's just for my personal knowledge, never tried to use it in trading Some possible set ups i've found: AudJpy ( similar to other Jpy pairs also) Changed my expectations {image} Gbpusd {image} On days like this with a lot of news i usually don't...
Nice set of charts!

Shorting the JPY pairs recently you could not have done any wrong.

An awareness of the news and the economic data is highly useful but in the end its up to the trader to form a bias or to simply rely on shorter term trades (avoid very high impact news events) and apply technical analysis.

For scalping type trades the overall fundamental picture will have limited to almost no effect ... especially if the TP is 5pips.
Longer term setups where trades last several weeks and into the months ... well this is a different situation altogether and in my own longer term trade setups I rely heavily on both the news and economic data feeds to initially form a bias on a pair and then I still have to make adjustments as necessary on changes to the initial pair direction bias so its continual and ongoing process.

Some traders fit into either technical or fundamental.

I fit into both because I trade both short term and also medium to longer term setups.

Trader choice in the end as to what suits them the best at the time.

ps. appreciate the charts you have posted so feel free to post whatever other charts you are keen on analyzing and I'll throw in my comments.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #1,079
  • Jun 16, 2016 11:10pm Jun 16, 2016 11:10pm
Quoting Masterrmind
@metta87 ......... Have you read the QLT thread? ........... If yes (I assume you have not!) did you understand it fully? ........... Do you have any idea what size account I was trading with or the lot progression sizing I was using or the pairs? ......... I doubt you would have any clue at all ............ Try not to think too much and go grab the popcorn (yes I know its not your favorite ... so go grab something else) and jump into your favorite recliner and watch but do not speak ........... its embarrassing...
lol ok i got you bro, its a lil late here. I ll be back tomorrow.
  • #1,080
  • Jun 17, 2016 7:10am Jun 17, 2016 7:10am
Quoting Masterrmind
{quote} Nice set of charts! Shorting the JPY pairs recently you could not have done any wrong. An awareness of the news and the economic data is highly useful but in the end its up to the trader to form a bias or to simply rely on shorter term trades (avoid very high impact news events) and apply technical analysis. For scalping type trades the overall fundamental picture will have limited to almost no effect ... especially if the TP is 5pips. Longer term setups where trades last several weeks and into the months ... well this is a different situation...
Thank you for the time you're spending here.
So,
I missed the possible short entry on AUD/JPY.
Let's see if the price will move higher from the 38.2%, if it does maybe a possible short reentry may be a good chose.
I think i will not trade it, ( have to return to work soon). But it will be interesting too see if my expectationwill play out..
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.png Size: 91 KB
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