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My Line in the Sand

  • #281
  • Jan 23, 2017 12:47am Jan 23, 2017 12:47am
GBP/JPY M5 Short Trade

Stop Loss is at BE +1
Attached Image (click to enlarge)
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  • #282
  • Jan 24, 2017 12:47am Jan 24, 2017 12:47am
GBP/JPY M5 Long Trade
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Click to Enlarge Name: 24th Jan 17 GBP:JPY M5 Long Trade.png Size: 129 KB
  • #283
  • Jan 24, 2017 1:43am Jan 24, 2017 1:43am
Quoting stevepatt
GBP/JPY M5 Long Trade {image}
GBP/JPY M5 Short Trade Result (-1R) (-10) Pips

I don't have the luxury of being able to take every Trade that sets up.

For this Method to work long term taking all Setups is essential for long term EDGE.
Attached Image (click to enlarge)
Click to Enlarge Name: 24th jan 17 GBP:JPY Long Trade Result.png Size: 133 KB
  • #284
  • Jan 24, 2017 2:20am Jan 24, 2017 2:20am
Quoting stevepatt
{quote} GBP/JPY M5 Short Trade Result (-1R) (-10) Pips I don't have the luxury of being able to take every Trade that sets up. For this Method to work long term taking all Setups is essential for long term EDGE. {image}

This demonstrates my point about being available to take every Trade that sets up around Frankfurt - London - New York Open.

There still Buy Orders sitting around the 141.000 RN that the Big Boys wanted filled before the Market was free to move higher.

This is why we need to take every Trade because we don't know what the Big Boys have planned until we see it on the Chart.

If we did know we would all be rich
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Jan 17 GBP:JPY M5 Observations.png Size: 153 KB
  • #285
  • Jan 24, 2017 7:35am Jan 24, 2017 7:35am
Quoting stevepatt
{quote} This demonstrates my point about being available to take every Trade that sets up around Frankfurt - London - New York Open. There still Buy Orders sitting around the 141.000 RN that the Big Boys wanted filled before the Market was free to move higher. This is why we need to take every Trade because we don't know what the Big Boys have planned until we see it on the Chart. If we did know we would all be rich {image}
Steve....i wanna try this

Can you post your template or email it to me.
Can i do it on higher tf?? H1 h4 or daily.
Jason
  • #286
  • Jan 24, 2017 11:05am Jan 24, 2017 11:05am
Quoting devontrader
{quote} Steve....i wanna try this Can you post your template or email it to me. Can i do it on higher tf?? H1 h4 or daily. Jason

Hi Jason,

Here's the Template, you should already have all the Indicators.

This works on all TFs.
Attached File(s)
File Type: tpl HalfTrend Simple.tpl   686 KB | 331 downloads
  • #287
  • Jan 24, 2017 11:20am Jan 24, 2017 11:20am
GBP/JPY M5 Observations

Is any body getting the opportunity to Trade this?

It's really frustrating to miss such good setups.
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  • #288
  • Jan 24, 2017 11:54am Jan 24, 2017 11:54am


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sorry the quality but that's I can do from my work place
  • #289
  • Jan 25, 2017 1:02am Jan 25, 2017 1:02am
GBP/JPY M5 Long Trade
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Click to Enlarge Name: 25thjan17 GBP:JPY M5 Long Trade.png Size: 118 KB
  • #290
  • Jan 25, 2017 7:09am Jan 25, 2017 7:09am
Quoting stevepatt
GBP/JPY M5 Long Trade {image}
Hi

I had a look at your thread and it looks like you generally find the right direction which is good, but I still maintain that your stop is too tight for your method of determining an actual entry.

The way I see it, you either should increase your stop to allow more wiggle room which is the easiest solution, or/and improve your actual entry point.

I've attached a chart of your latest entry and shown where my entry would have been if I had chosen to trade at that stage. You can see that coincidentally in this case, that a 15 pip stop would have survived (not that I'd be using such a small stop personally).

Anyhow, examine, to see where you can improve your own method to better identify a trade level. I think you are not far off the mark already to be fair, but recent trades that you appear to have taken, have unsurprisingly been stopped out, before they get a chance to move favourably.

Food for thought, that's all

Attached Image (click to enlarge)
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  • #291
  • Jan 25, 2017 12:12pm Jan 25, 2017 12:12pm
Quoting Landline
{quote} Hi I had a look at your thread and it looks like you generally find the right direction which is good, but I still maintain that your stop is too tight for your method of determining an actual entry. The way I see it, you either should increase your stop to allow more wiggle room which is the easiest solution, or/and improve your actual entry point. I've attached a chart of your latest entry and shown where my entry would have been if I had chosen to trade at that stage. You can see that coincidentally in this case, that a 15 pip stop would...

Hi Landline,

Thanks for your insight.

Sometimes the Market Setups for what I see as a Trade Entry but the Big Boys have other ideas.

Like yesterday there where Buy Orders sitting at a lower Level (142.00 RN) that needed to be filled.

None of us know this before the fact unfortunately, I've marked on the Chart, below, where I would have entered other Trades had I been around to take them.
Attached Image (click to enlarge)
Click to Enlarge Name: 25thJan 17 GBP:JPY M5 Observations..png Size: 129 KB
  • #292
  • Jan 25, 2017 12:15pm Jan 25, 2017 12:15pm
Quoting zwara
image.png;2153948 sorry the quality but that's I can do from my work place {image}
Hi Zwara,

Nice

Unfortunately I'm not in a position to Trade at work.
  • #293
  • Jan 25, 2017 12:33pm Jan 25, 2017 12:33pm
GBP/JPY M5 Short Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 25th Jan 17 GBP:JPY M5 Short Trade.png Size: 106 KB
  • #294
  • Jan 25, 2017 1:33pm Jan 25, 2017 1:33pm
Quoting stevepatt
{quote} Hi Landline, Thanks for your insight. Sometimes the Market Setups for what I see as a Trade Entry but the Big Boys have other ideas. Like yesterday there where Buy Orders sitting at a lower Level (142.00 RN) that needed to be filled. None of us know this before the fact unfortunately, I've marked on the Chart, below, where I would have entered other Trades had I been around to take them. {image}
Yeah..., no one can be sure what is about to happen, it's about probability mostly, and opportunity to trade, which I realise is not always available to some.

Nevertheless, in your case for example. it would be advisable to forget m5 I'd have thought given your obvious lack of opportunity to trade. I'm going to assume that you have a window of trading opportunity to scan the chart between 5am and 9am, and that being the case, then by looking at the h1 chart for example in that window of opportunity, would have revealed to you today 2 very good long set-ups available, which I'm pretty sure you too would have easily spotted.

Sure, you would have needed a bigger stop and reduced position size (today you would have used about 26 pips max to win 100 pips as an example), on 1 trade during the time you were at work! So my point being that limiting yourself to only trade via the m5 chart need not be necessary, and your r-r can still remain the same with adjusted size, stops and target to suit your pocket.

More food for thought lol...if nothing else
  • #295
  • Jan 25, 2017 2:47pm Jan 25, 2017 2:47pm
Quoting stevepatt
{quote} Hi Zwara, Nice Unfortunately I'm not in a position to Trade at work.

Me neither is not allowed but shushhhhhhh don't tell anyone eheheh
  • #296
  • Jan 25, 2017 4:11pm Jan 25, 2017 4:11pm
Quoting stevepatt
GBP/JPY M5 Short Trade {image}

GBP/JPY M5 Short Trade

Big Boys push the Market where they need it to go to pick up the waiting Orders in this case Sell Orders 143.70.

We can see the quick push up to this Level and the reaction once it gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: 25th Jan 17 GBP:JPY M5 Short Trade 2.png Size: 137 KB
  • #297
  • Jan 26, 2017 12:55am Jan 26, 2017 12:55am
Quoting Landline
{quote} Yeah..., no one can be sure what is about to happen, it's about probability mostly, and opportunity to trade, which I realise is not always available to some. Nevertheless, in your case for example. it would be advisable to forget m5 I'd have thought given your obvious lack of opportunity to trade. I'm going to assume that you have a window of trading opportunity to scan the chart between 5am and 9am, and that being the case, then by looking at the h1 chart for example in that window of opportunity, would have revealed to you today 2 very...
Hi Landline,

Thanks for the input.

I know I could move up the TFs, this works on all TFs, but it also, for me at least, comes down to the amount of time I spend exposed to the Market.

I used to Trade D1 and H4 and I could spend days waiting for a Trade to Setup I would enter a Trade and could be waiting days to gain closer to 1R rather than 2R.

My money would be tied up within a Trade for days now it's an hour or so at most.

I know H1 would be that much quicker and I will keep an eye on it going forward.

I'm only Trading a small account at the moment whilst I hone my skills on M5 eventually I will have more time to Trade.

To be honest Trading full-time would not give me enough job satisfaction I'm too practical for that I need to look back and see I've achieved something tangible with my time.

Trading exercises my brain, for me, it's about the process of Trading rather than the monetary return at the moment.
  • #298
  • Jan 26, 2017 2:56am Jan 26, 2017 2:56am
GBP/JPY M5 Long Trade

I don't have the time to upload every Trade as it happens.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26th Jan 17 GBP:JPY Long Trade.png Size: 163 KB
Click to Enlarge Name: 26th jan 17 GBP:JPY M5 Long Trade Result.png Size: 125 KB
  • #299
  • Jan 26, 2017 4:10am Jan 26, 2017 4:10am
Quoting stevepatt
{quote} Hi Landline, Thanks for the input. I know I could move up the TFs, this works on all TFs, but it also, for me at least, comes down to the amount of time I spend exposed to the Market. I used to Trade D1 and H4 and I could spend days waiting for a Trade to Setup I would enter a Trade and could be waiting days to gain closer to 1R rather than 2R. My money would be tied up within a Trade for days now it's an hour or so at most. I know H1 would be that much quicker and I will keep an eye on it going forward. I'm only Trading a small account...
Understood.

It's quite refreshing to see someone trading without dependency for oscillator driven methods which seem to proliferate the majority of systems on FF, and that was the main reason your method caught my eye.

Keep up the good work whatever your goal is....everyone cooks slightly differently, but I'm sure others are benefiting from your posts even though there seems little traffic. Good luck mate
  • #300
  • Jan 26, 2017 8:26am Jan 26, 2017 8:26am
Here's an EU H1 chart that I shorted. The conditions that I'm interested in seeing were all present on this t/f (and as SP has said, the best systems follow the same rules no matter what t/f is traded).

I entered short at the purple line and had a 30 pip stop in place (I needed 13 pips as it happens before it moved favourably south), looking for a 100 pip final tp in this particular case. I have now taken half off the table, and moved my stop to be +15. The trade is already profitable now, with a safe stop, and most importantly (for me that is), I haven't destroyed the short trade, because the conditions are still valid at this point in time.

It is a good example of the post I made earlier concerning a higher t/f to trade when m5 is not convenient to some.

The basic entry I have shown, is not a million miles different to where SP would have placed his had he traded it I've no doubt, because his principles appear to align with my own in some ways, albeit we have different triggers, but there's no getting away from price, whichever entry method is applied...it leads!

If this interferes with the thread continuity (which I'd understand), just say and I'll refrain from posting charts, and stick to comments only

Cheers LL

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