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Trading is as simple as ABCD

  • #10,781
  • Oct 19, 2016 3:07am Oct 19, 2016 3:07am
Not to sure if its wise to stay in overnight, but managed to bank + 50pips from the DAX
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  • #10,782
  • Oct 19, 2016 3:31am Oct 19, 2016 3:31am
Well done Dave.
I tend not to hold overnight - too much news risk. I also get charged a swap rate/holding fee as it's a CFD.
Sorry I didn't respond to your last post as I am well aware of my shortcomings, Seriously thought I knew I should have stayed away from the trade. It did go to my target thought. Lucky hey??
  • #10,783
  • Oct 19, 2016 4:25am Oct 19, 2016 4:25am
Quoting manfredg
Well done Dave. I tend not to hold overnight - too much news risk. I also get charged a swap rate/holding fee as it's a CFD. Sorry I didn't respond to your last post as I am well aware of my shortcomings, Seriously thought I knew I should have stayed away from the trade. It did go to my target thought. Lucky hey??
Thanks, I suffer from a few medical problems one of which is Obstructive Sleep Apnoea so I am not always the best at getting out of bed after a bad night, so I had to ponder long and hard if to play over night, I trade with FXCM and the roll for the sell side was zero, so in the end took the chance because price was in the correct zone, banking on there not being a chart shift, I accept the gap problem going to look at that today, would not stay in over the weekend but weekday I would see my stop level, going to keep it in mind but leaning towards taking the signal as and when the signal appears, if I do get the chart shift against me I will take it that I am wrong and reverse my thinking and go on a recover mission
  • #10,784
  • Oct 27, 2016 6:52am Oct 27, 2016 6:52am
Still works even with uk 8am Dax Breakout and uk 9am Ftse Breakout
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  • #10,785
  • Oct 27, 2016 7:07am Oct 27, 2016 7:07am
Dow & G/U, just wait for the opening range to be posted
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  • #10,786
  • Oct 27, 2016 11:01am Oct 27, 2016 11:01am
Another u/j
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  • #10,787
  • Oct 27, 2016 3:21pm Oct 27, 2016 3:21pm
Well done Dave. If your settings work for you that's great. I didn't look to see if they are the same for every currency or indicie, if they are then the secret to consistent target levels is to follow the pattern of each pair and see how far they run. That is GBP ran a long way at the London open yet UJ only ran the standard distance. Watch and record/learn their nuances so as to be able to target the take profit area more consistently.
Just my thoughts.
Manfred.
  • #10,788
  • Oct 27, 2016 5:30pm Oct 27, 2016 5:30pm
Quoting manfredg
Well done Dave. If your settings work for you that's great. I didn't look to see if they are the same for every currency or indicie, if they are then the secret to consistent target levels is to follow the pattern of each pair and see how far they run. That is GBP ran a long way at the London open yet UJ only ran the standard distance. Watch and record/learn their nuances so as to be able to target the take profit area more consistently. Just my thoughts. Manfred.
Thanks as always for your comments, yes all 5 minute charts with a Murrey 256, but I do not take a trade until the breakout, which is uk 9am for all FX pairs that I watch and the FTSE, Uk 8.am for the DAX & CAC and uk 3.30 pm for the DOW, so in fact I do not actually trade the London Open I let it settle down for 60mins before I get interested
  • #10,789
  • Oct 27, 2016 5:49pm Oct 27, 2016 5:49pm
Forgot to add I am finding RSI 14 Divergence at levels quite informative but hey its an indicator so I won't show it
  • #10,790
  • Oct 28, 2016 3:03am Oct 28, 2016 3:03am
Good start to the day with the Dax, Murrey and a Pivot view, just glad I am a simple guy trading a simple way
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  • #10,791
  • Oct 28, 2016 6:13am Oct 28, 2016 6:13am
Banked +17 from Ftse
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  • #10,792
  • Oct 28, 2016 6:18am Oct 28, 2016 6:18am
Could even have gone down the Pivot route
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  • #10,793
  • Nov 1, 2016 9:58am Nov 1, 2016 9:58am
DAX caught me yesterday but managed to get revenge today, I have shown screenshot in Pivot form as there as been chart shifts on Murrey 5min charts
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  • #10,794
  • Nov 9, 2016 7:24am Nov 9, 2016 7:24am
....so the poor Germans also recovering from the USA election crazyness. Gotta grab an opportunity when it presents it self
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  • #10,795
  • Nov 9, 2016 8:32am Nov 9, 2016 8:32am
Pipglutton that's good trading to say the least, but no one will show any interest as you are showing 15 min charts and the only way you can make money is with 1 minute charts
  • #10,796
  • Nov 11, 2016 6:41am Nov 11, 2016 6:41am
I also had that idea, and in some 12 years of "trading" just filled the pockets of my brokers and was still reliant on a fixed income from my employers.
Fact is, scalping M1 is closer to gambling that trading. You use a number of "indicators" (and that's what they are, they indicate) and hope and pray to God that things will go your way. Many time it does, but MOST times it does not. Brokers love scalpers. I believe indicators do have a role to play. I use them to help with exit points and one or two other things. I still have to meet the scalper that has a life, has a wife, has a family and have all his wits about him. Sorry if I am stirring the sh*t pot, but that's just my 2 cents worth. I am a full time trader and do not need income from anybody.

Attached, a chart reflecting pivot trading (pivots are not indicators)
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  • #10,797
  • Nov 11, 2016 8:50am Nov 11, 2016 8:50am
I just wonder if the Pivot rules will work on the DOW
Inserted Video
Very good trading AGAIN Mr Pipglutton, saying that it seems the norm for you now, Monthly Pivots shown on screenshot
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  • #10,798
  • Nov 11, 2016 9:34am Nov 11, 2016 9:34am
Quoting Pipglutton
I also had that idea, and in some 12 years of "trading" just filled the pockets of my brokers and was still reliant on a fixed income from my employers. Fact is, scalping M1 is closer to gambling that trading. You use a number of "indicators" (and that's what they are, they indicate) and hope and pray to God that things will go your way. Many time it does, but MOST times it does not. Brokers love scalpers. I believe indicators do have a role to play. I use them to help with exit points and one or two other things. I still have to meet the scalper...
In my opinion, trading higher TFs or lower TFs are pretty much the same. Wave within waves within waves. It is not because of the 'clarity' of higher TF charts (which is BS if you ask me) but the frequency of transactions that brakes most 'scalpers'. If you are an intraday trader, you wil have to trade more often, therefore exercise discipline more frequently. Unless you are experienced, the inevitable losers will take their toll on you psychologically, impairing your ability to execute the next trades flawlessly. On top of that, most people (according to my observations on FF) are trading without a self-created plan, either following the newest 'trade with 90% accuracy' magical system or acting on their whims and impulses. Zero consistency. No wonder they lose money.
Invincibility lies in the defence; the possibility of victory in the attack
  • #10,799
  • Nov 12, 2016 2:26am Nov 12, 2016 2:26am
This thread seems to have lost its direction , is anyone still trading ab = cd patterns

I started with them and after surprisingly good results have been progressing further into Harmonic trading.

I am looking for others to work with that Really understand and trade this stuff as the rest of it is overcomplicated as far as I am concerned.

Chalky
  • #10,800
  • Nov 15, 2016 6:49am Nov 15, 2016 6:49am
Quoting Chalky600
This thread seems to have lost its direction , is anyone still trading ab = cd patterns I started with them and after surprisingly good results have been progressing further into Harmonic trading. I am looking for others to work with that Really understand and trade this stuff as the rest of it is overcomplicated as far as I am concerned. Chalky
Hi Chalky.
This thread has lost it's direction 6 months back, and NO, nobody is trading the AB=CD patterns.... haven't been for the last 18 months!
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