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High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

  • #1,341
  • Feb 7, 2017 1:29am Feb 7, 2017 1:29am
Current Market Condition/Sentiment: ( Observation ONLY )


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-02-07 01.27.52.png Size: 102 KB
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,342
  • Feb 7, 2017 1:51am Feb 7, 2017 1:51am
Note:

I couldn't trade the AUD News yesterday during the Asian Session, and I hope that some of you guys took
advantage of that move in the market... AUD and NZD pairs did very well, and CAD pairs surprised me. I didn't
see that move coming on the first day of the week.....

I had a great setup on CAD/JPY last week and I was so concerned on Gaps and got out on Friday.... Anyway,
this pair had a massive drop......


Happy Trading Everyone!

I won't be staying here too long, because I will be watching that Trading Workshop with Akil and Jason later today
during the U.S Session......
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,343
  • Feb 7, 2017 5:55am Feb 7, 2017 5:55am
Quoting OctaveJay509
Bad News Traders: FXCM banned by CFTC after taking positions against clients FXCM has been banned from operating in the U.S. after the Commodity Futures Trading Commission found the retail currency broker had an undisclosed interest in the market maker that consistently "won" the largest share of FXCM's trading volume - and thus was taking positions opposite its retail customers. The CFTC also found that FXCM willfully made false statements to the National Futures Association in order to conceal FXCM's role in the creation of its principal market...
Thanks for the heads up.
  • #1,344
  • Feb 8, 2017 1:50am Feb 8, 2017 1:50am
Quoting marcnathan88
Some additional trades I took. EUR/USD and GBP/JPY. High impact news on GBP, the construction PMI came out less than forecast. Which could mean a negative effect on GBP. As always I took the trades because of the set up present on M15, M30 and H1. I'll see how it works. EUR/USD Long eurusd-m15-trading-point-of.png;2168933 GBP/JPY Short gbpjpy-m15-trading-point-of.png;2168934 P.S. The sentiments on all pairs I traded are in accordance with the trade I took. {image} {image}
Quoting marcnathan88
Some additional trades I took. EUR/USD and GBP/JPY. High impact news on GBP, the construction PMI came out less than forecast. Which could mean a negative effect on GBP. As always I took the trades because of the set up present on M15, M30 and H1. I'll see how it works. EUR/USD Long eurusd-m15-trading-point-of.png;2168933 GBP/JPY Short gbpjpy-m15-trading-point-of.png;2168934 P.S. The sentiments on all pairs I traded are in accordance with the trade I took. {image} {image}
Something came up that made me a little busy so I wasn't able to update all those trades I took.

GBP/JPY hit my TP +38 pips. EUR/USD and USD/CAD were stopped out. -30 and -22 pips respectively. But the good news with these two trades is that the risk were good and most importantly I followed the rules. What happened was the market decided to reverse. That goes to show anything can happen in the markets. The same thing happened with EUR/JPY and USD/JPY. But with USD/JPY had I not been a little greedy it would've been a profit. I set my TP to +70 pips but only managed to move +68 pips LOL. I certainly learned a lot of lesson and that's really been a good thing for me. I shall move forward and carry the lessons I've learned.

What you taught Jay was right. Target the same amount of pips per trade and then to make the most out of those pips you can increase the lot size gradually.

I will see what the market will bring forth this week.

Happy trading to all.
Patience and Discipline, these are the Holy Grail.
  • #1,345
  • Feb 8, 2017 3:37am Feb 8, 2017 3:37am
Quoting OctaveJay509
{quote} No doubt brother! This might be just the beginning man for retail Traders...I will keep my eyes open and I have till Feb 21st to find a new broker... I can't trust anyone out there anymore... I was with Alpari first then they sent me to FXCM and now I might be going to Oanda (??????) or Tradersway (???? ). I have a feeling that Retail Traders were getting smarter and those guys were tired of losing money and some of their employees decided to become Market Makers behind closed doors...Who Knows???

Sorry to ask,why do you have till Feb 21st to find a new broker?
Does it have to do with FXCM?

I am asking because I have live account with FXCM so far.
Simple is powerful all the time.
  • #1,346
  • Feb 8, 2017 7:01am Feb 8, 2017 7:01am
Quoting RiverTrader
{quote} Sorry to ask,why do you have till Feb 21st to find a new broker? Does it have to do with FXCM? I am asking because I have live account with FXCM so far.


FXCM is going to sell their US Clients book to Gain Capital (Forex.com ), and I am not too familiar with
those guys, but I know they openly sell against their customers....Your account with FXCM won't have
any issues until the transfer is final....You will get all the updates from them very soon...

I have a friend of mine that does business with FXCM, he keeps me in the loop....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,347
  • Feb 8, 2017 7:09am Feb 8, 2017 7:09am
Quoting marcnathan88
{quote} {quote} Something came up that made me a little busy so I wasn't able to update all those trades I took. GBP/JPY hit my TP +38 pips. EUR/USD and USD/CAD were stopped out. -30 and -22 pips respectively. But the good news with these two trades is that the risk were good and most importantly I followed the rules. What happened was the market decided to reverse. That goes to show anything can happen in the markets. The same thing happened with EUR/JPY and USD/JPY. But with USD/JPY had I not been a little greedy it would've been a profit. I set...

No Worries mate! I haven't been posting any trades lately...

You are on the right track and keep learning every day from your decision making.

As a day-Trader, it's always best to target a 1:1, but when you swing trade the market, you will
have more flexibility and you can easily go for 1:3 or 1:4.

Woaw! really 68? that was so close. LOL!!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,348
  • Feb 8, 2017 8:10am Feb 8, 2017 8:10am
Quoting OctaveJay509
{quote} FXCM is going to sell their US Clients book to Gain Capital (Forex.com ), and I am not too familiar with those guys, but I know they openly sell against their customers....Your account with FXCM won't have any issues until the transfer is final....You will get all the updates from them very soon... I have a friend of mine that does business with FXCM, he keeps me in the loop....
O, Thanks for quick respond, but I am not US client to FXCM.
I am Asia client to FXCM, does it make any difference?
Simple is powerful all the time.
  • #1,349
  • Feb 8, 2017 8:55am Feb 8, 2017 8:55am
Quoting OctaveJay509
{quote} No Worries mate! I haven't been posting any trades lately... You are on the right track and keep learning every day from your decision making. As a day-Trader, it's always best to target a 1:1, but when you swing trade the market, you will have more flexibility and you can easily go for 1:3 or 1:4. Woaw! really 68? that was so close. LOL!!
Indeed it was really close. All I can do was shake my head and laugh haha. It was only a demo account so I guess laughing was a good reaction. I don't how I would've reacted if it was a live trade. Anyways I've learned a good lesson.

BTW that news about FXCM is all over on FF and I saw it on your post when I posted my update on the five trades I took. I remembered that they were your broker Jay. I hope everythings fine with your funds/money. There are a ton of brokers out there and I'm sure you will find the right one.

Good trading to all.
Patience and Discipline, these are the Holy Grail.
  • #1,350
  • Edited 4:42pm Feb 8, 2017 10:49am | Edited 4:42pm
I tried adding the m but it made no difference. It only shows five usd pairs.

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and this is where I add the m's right? Its not showing now because this is a new download, but I did it before and nothing changed.

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When I add the m's, I get this message at the bottom:

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m I supposed to put an actual "m" in there are did "m" stand for something else?

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If it were not so, I would have told you...
  • #1,351
  • Feb 8, 2017 11:30am Feb 8, 2017 11:30am
Hello Octave & fellow traders,

Feels like its been a long since i posted here. I try to follow all the posts. Quite busy these days, day after tomorrow i will go for a professional course, so i will be more away from trading platform. Because of my profession i cant monitor the platform very frequently as the lower tf's requires attention. For this i was trying higher tfs & placing pending orders on chart. Now i try no more than 50 pips SL by checking the lower tf's. And targeting 1:1 then whatever market gives me. I have chosen all gbp pairs for trading, easy for me to monitor. Gbp strength & comparing other currencies with it, news impacts of a currency on the specific Gbp pair. Indicators using fractals, alligator, awesome oscillator, drawing trendlines, supply demand areas. So i guess i got away so much from your style. Reason for using those indicator nothing special, they are built in indicators of almost any platform & they are available on pc, mac, tablets & phones everywhere. Which helps me trade & monitor easily. In a nutshell i am trying to build up a ROE (Rules of Engagement) for me, so i can follow to every letters of it.

I respect Octave's 2 years of hard work shown here, i learnt a lot, truly it helped me see the market in a different way. I love octave's consistency, same top down analysis & trading style. This is really a Military Grade discipline mate. Keep it up. Consistency is very important in this business.

This doesn't mean i quit from this thread, i will be reading regularly & will post whenever possible.

Happy trading everyone.

Cheers.
How big can you think!
  • #1,352
  • Feb 8, 2017 2:33pm Feb 8, 2017 2:33pm
Quoting RiverTrader
{quote} O, Thanks for quick respond, but I am not US client to FXCM. I am Asia client to FXCM, does it make any difference?
You won't be affected at all since you are outside of the U.S. It will be Business as Usual.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,353
  • Feb 8, 2017 2:38pm Feb 8, 2017 2:38pm
Any ideas about my problems above?
If it were not so, I would have told you...
  • #1,354
  • Feb 8, 2017 2:40pm Feb 8, 2017 2:40pm
Quoting marcnathan88
{quote} Indeed it was really close. All I can do was shake my head and laugh haha. It was only a demo account so I guess laughing was a good reaction. I don't how I would've reacted if it was a live trade. Anyways I've learned a good lesson. BTW that news about FXCM is all over on FF and I saw it on your post when I posted my update on the five trades I took. I remembered that they were your broker Jay. I hope everythings fine with your funds/money. There are a ton of brokers out there and I'm sure you will find the right one. Good trading to all....
No Matter what happens in your trading decision, always move your SL to reduce risks...The market will play
with your emotions sometimes, and the good news is as long as you follow your rules, it's just a matter of
time before you can take advantage of your position sizing instead of the pip movement itself.

With regards to FXCM, everything is fine and I just need to be an alert and observe the situation with calmness.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,355
  • Feb 8, 2017 2:43pm Feb 8, 2017 2:43pm
Quoting virgilcain
Any ideas about my problems above?
I am not sure how to fix that problem. There's a trader name FerruFX, he's a tremendous coder, he will definitely help you
with that suffix issue. I haven't talked to him in a while. He's always around the corner. Ask him for help mate.

Once again, sorry for the issue.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,356
  • Edited Feb 9, 2017 12:37am Feb 8, 2017 2:52pm | Edited Feb 9, 2017 12:37am
Quoting Aar
Hello Octave & fellow traders, Feels like its been a long since i posted here. I try to follow all the posts. Quite busy these days, day after tomorrow i will go for a professional course, so i will be more away from trading platform. Because of my profession i cant monitor the platform very frequently as the lower tf's requires attention. For this i was trying higher tfs & placing pending orders on chart. Now i try no more than 50 pips SL by checking the lower tf's. And targeting 1:1 then whatever market gives me. I have chosen all gbp pairs for...
Thanks for all the support Aar, you are an inspiration for all of us...Like i said before, feel free to engage whenever you
can. No pressure ! LOL

My system started with stochs and a simple moving average. You are doing the right thing by embracing the same
concept but using different tools...I support you for that and all I ever wanted is for traders to understand the market
and simplify it the way I have been shown for the past 2 years.

Take away the "Hope factor" in your decision making and understand the behavior of each currency pair. And at the end
of the day, you will notice that your personality plays a major role in the market.

It seems like you can listen to them pairs talking to you, and giving you clues about their direction each day.

Kind regards mate!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,357
  • Feb 9, 2017 2:40am Feb 9, 2017 2:40am
A Few Highlights on that Trading Workshop this week:

Day 1 and Day 2

http://promos.tradeempowered.com/utt-highlights/


Note: I really don't know for how long theses videos are going to last.... Just watch them whenever
you can after you done trading.

Enjoy Everyone!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,358
  • Feb 12, 2017 10:29pm Feb 12, 2017 10:29pm
Weekly Economic Calendar Update ( Video by Jarratt Davis )

Inserted Video
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,359
  • Feb 12, 2017 10:35pm Feb 12, 2017 10:35pm
Trend and Strength (Low TF Market Bias )

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-02-12 22.32.05.png Size: 69 KB



Note: I will be observing the Market tonight and Monday morning....I have a
few trades Setups in mind....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #1,360
  • Feb 12, 2017 10:52pm Feb 12, 2017 10:52pm
Not too long ago, a trader of mine introduced me to this new Indicator and I had no idea this thing
existed...

I spent the last few weeks observing, testing, studying and researching everything I can about it.
It looks very promising but this is not a standalone indicator at all, you have to filter out a few things
and focus mostly on the things that will make you money which is developing a trading plan that is based
on your rules of engagement.

this is not a perfect indicator but it helps you to leverage your time and focus on the setups that are most
likely to unfold over time....

This week, I am going to test it live and see how it goes.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2017-02-12 22.38.45.png Size: 338 KB



Note: If you have no problem to spend a little bit of money, you can rent this indicator for at least a month,
and test it on your own....I have changed some of the settings to fit trading style, and I only care about the
completed patterns (C ), and not the Projected Patterns (P ).
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
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