(binned per thread starter's request) Trading system replication

AUDCAD -4 pips:

Nice break on GJ, missed it. Still watchig GU.

If price is so close to invalidation maximu area its really no point exiting in loss there, just wait for high break as exit in such case.

ECAD play. RR 1:4 here.

EU play with macro/micro combo. Strategically positioning to better the odds and increase RR. By default is always going to outperform single macro entry without use of micros.

100% correct, there is no reason to exit a trade near a probable turning area. Just a suggestion, Would it not be better to wait for the retest of trendline?

Hm not sure what exactly you mean could you post a picture of chart?

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I've spent months, if not longer, doing my own historical data research. Checking 663 trades had to take you a month, or more. It can also have the affect of losing your perspective, while trading live, because when backtesting, the trade results are immediately obvious.

Next, I'd like to hear more about how you might decide to take retrace entries, as in chart below.
You've done an excellent job of explaining your trading style. Every bit helps. Thanks.

Chart from:
Post 383, pg. 18

Yes you are correct in terms that doing historical research takes a long time, but its worth it becouse the take aways are important statistical informations.
It didnt take month however, not nearly as much, took 1 day to go trough the trades, i lay down sheet with may different columns that i count so that everything can be quickly written down. I try to do at least 1 statistical historical count every week.

For retrace entry i judge the price action, what is being detailed around the pattern. Are there clear rejection candles, is volatility change strongly in favour of breakout thus decreasing stronger pullback chances, is structure very large or very small, is volatility changing against the pattern for example you have break but then there are strong pushes against the setup if i am not in trade yet ill wait for large retrace near max invalidation area in such case. Another case are micros. If i see micro along the direction of macro pattern i will get in no matter of retrace, becouse it simply adds to odds for price to go directly in my favour.

For example this setup i played directly, once m1 break was confirmed i went to micro TF to find same directional setup for actual entry.


Somethimes you have very strong rejections and clear ones when price bumps into trendline, or closes above it. It forms usually bullish pinbar (on bull setup) so you can then position your entry around the pinbar and use its low as actual invalidation point. By using that you dynamically increase RR on trade, and if you are able to catch even a micro within that interest area you increase RR even more, increasing odds and RR.



Its more about observing the behaviour of price around pattern in terms of volatility and micro structures that can help you judge what area you want to use for entry, and your invalidation zone. Not every setup is the same, if there is strong volatility change in favour of breakout then you can go in with more direct entries, not needed to follow very tight invalidation price level, however if setup is weaker but price gives you nice and clear rejection candles or micro lows/highs then you can focous on limiting the risk by entering or exiting loss around them.

You can also use counter trendlines to help you get that invalidation are more tighter. Somethimes when you have break setup, there is counter trendline clearly following it from oposite side which you can use as your entry/exit price, look at ECAD example i posted yesterday.

Example of no retrace entry.

ECAD macro/micro play. Nice higher target on macro along strong up trend.




Micro.

EURAUD.

TPed EA.

Example of NU setup. Macro and micro aligned on same price.

ECAD performed to macro target, 1:4-1:6 RR micro trade (depending on approach).

AJ, looking for micros to get in.


Missed nice setup on GU. My trendline was drawn from too little candles on m1 structure thus i missed it. Lesson learned, always have enough candles in structure, otherwise chances are youll be late.



EA

possible UJ short

aj tped.

Good setup on UMXN, m1 has path a bit higher and if candle close is above area highs it expands into further target of upside, turning this a nice RR trade. I missed entry was few seconds too late. Those setups are very good becouse they keep expanding the potential profits as key levels are taken one by one.

And thats pretty much what happened.

Gold in.

TPed.




Tracking CAD. Volatility is going in favour of breakout, lets see if bulls are weak and there is print of micro setup to get in.