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Trading is as simple as 1-2-3

  • #3,221
  • Apr 25, 2017 6:24pm Apr 25, 2017 6:24pm
Quoting lemercenaire
{quote} Ha ha - I saw that CJ but I've had my fill of JPY pairs today, lol. EDIT: Having gone and had another look, you may be onto something now... {image}
Lol yeah I see what you mean. AWesome you got the Jpy pairs.
I know HAL has been at this since November. How about yourself?
  • #3,222
  • Apr 25, 2017 6:51pm Apr 25, 2017 6:51pm
Quoting faatkumo
{quote} Lol yeah I see what you mean. AWesome you got the Jpy pairs. I know HAL has been at this since November. How about yourself?
Since god was a boy ...

Nah - it just seems like that when you get days like today, lol.

On TooSlow's version of 1-2-3, I'd have to go look. Since last June or so. However I used variants of 1-2-3 and especially HOLO on long time-frames in my time working for a Prop-Trading firm and I've traded full time for a long, long, time.
  • #3,223
  • Apr 25, 2017 7:21pm Apr 25, 2017 7:21pm
Quoting lemercenaire
{quote} Since god was a boy ... Nah - it just seems like that when you get days like today, lol. On TooSlow's version of 1-2-3, I'd have to go look. Since last June or so. However I used variants of 1-2-3 and especially HOLO on long time-frames in my time working for a Prop-Trading firm and I've traded full time for a long, long, time.
Thats awesome man. Thanks for your insight.
So, my dilemma;
i see various trades setting up, they all look good to enter, I only want to enter 2 out of the 5 that present themselves.
How do I choose which ones to go in?
What would be the deal maker or breaker?
Im finding this to be a very real issue. Lol

do I go for the higher ADR pair? Do I go for the one that doesn't have "room" on adr to go up?


Thanks!
  • #3,224
  • Apr 26, 2017 2:51am Apr 26, 2017 2:51am
Quoting faatkumo
{quote} Thats awesome man. Thanks for your insight. So, my dilemma; i see various trades setting up, they all look good to enter, I only want to enter 2 out of the 5 that present themselves. How do I choose which ones to go in? What would be the deal maker or breaker? Im finding this to be a very real issue. Lol do I go for the higher ADR pair? Do I go for the one that doesn't have "room" on adr to go up? Thanks!
Yes, this is an important part of the process. I've been using Supply+Demand Zones more and more lately. I will also - as noted before - make use of how price sits in the higher time-frames, paying attention to price-action there. Pivot-Points are also important. Sounds like a lot to take in but it's not really. Takes seconds to run through your check-list.

Time of day can also be important. USDCAD will tend to give a set-up to open and close the day (top-and-tail as I call it). This also happens on the indices.

If you're sitting in a tight(er) range, be prepared to take your profits quickly. Look at how Hal is making a killing on these tight-range plays recently.

It's another reason to build a stable of preferred pairs, as you will quickly be able to recognise when a situation you've seen before is showing up again.

Another base set-up is if you've had a major single-bar move. You can almost guarantee some kind of drop away from that big move. This is not however always the case, sometimes it is an express train and you have to just get out of the way. As always, don't assume. Always be ready to cut-and-run. The reverse away from a single move is more likely if the move has come on the back of news.
  • #3,225
  • Apr 26, 2017 2:52am Apr 26, 2017 2:52am
Speaking of news - watch the red today. CAD first and then USD via Crude news later.
  • #3,226
  • Apr 26, 2017 2:55am Apr 26, 2017 2:55am
Quoting faatkumo
{quote} Thats awesome man. Thanks for your insight. So, my dilemma; i see various trades setting up, they all look good to enter, I only want to enter 2 out of the 5 that present themselves. How do I choose which ones to go in? What would be the deal maker or breaker? Im finding this to be a very real issue. Lol do I go for the higher ADR pair? Do I go for the one that doesn't have "room" on adr to go up? Thanks!
Thought I would weigh in on this one as it is an interesting question. The answer I feel is that that is your assignment for the next fifty years or so. When I was a youngster back in November I had much the same question. IMO nearly every pair offers an opportunity to get in by rules. However you do so at your own peril. There are many false signals along the way.

I have yet to find a clear cut, what I call a tell. But I continue observing and noting and build on a sense of when and when not. You have to develop that for yourself over time. Lots. I cannot tell you when A do B. TooSlow might have a different take on it. I suspect he might say when the rules apply take the trade and don't overthink it. But I don't want to speak for him. I do know that when I take a trade based on what I see going on and am in tune with the market conditions I do well. TooSlow I believe calls that dancing with the market.

I will leave you with this one clue on the EJ yesterday. There may be some profit in there on one of those hours but probably one you would have wanted to stay out of as the train chugged along on one direction. Notice you see no red arrows from me where I would have gotten in. And now back to work.

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  • #3,227
  • Apr 26, 2017 3:22am Apr 26, 2017 3:22am
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Having expounded on my great wisdom in last post. I got so wrapped up in why I would have not traded the EJ yesterday. I mistakenly took it long today as it had not made the lower low yet. But I had the foresight on this mistake to get out quickly with +5. So I am to the conclusion I may just be lucky.
  • #3,228
  • Apr 26, 2017 3:27am Apr 26, 2017 3:27am
AU with a Double-Dip (for the record, not officially sanctioned practice). Complete fluke I was in the neighbourhood and only got this as I was checking AU for another method. Tight stop just the other side of the green zone, just in case.

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  • #3,229
  • Apr 26, 2017 3:37am Apr 26, 2017 3:37am
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You read my mind a bit there Lem. Made up for a bit of a misstep yesterday on this pair. Locked +5.
  • #3,230
  • Apr 26, 2017 3:50am Apr 26, 2017 3:50am
The Weird Bunch as they start the day. A selection of different management techniques across the board today...

Took a shallow-range Hal-style entry on the US30...
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The 500 kicked off earlier and cleaner...
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On the 100, price gapped on the Trigger-Bar and I entered at the level of the Set-Up bar's close (where the TB level would have been without the gap). There was an entry on the return bounce (not traded by me). The 100 is obviously going to be an interesting ride today, lol...
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I missed the original entry on the DAX (which then went on to make a new high as it turned out) but took the next one. Not looking at a large move - at least initially - on this one, another Shallow-Hal-Special...
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As always, you can count on at least one of The Weird Bunch to do something, well, weird. Today's contestant is the F40, where I took the short entry on what I was expecting to be a short-lived move, which meant that I bagged ultra-quick and actually countered almost immediately on the long trade back out of that reverse. It's all fun in the sun!
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  • #3,231
  • Apr 26, 2017 3:56am Apr 26, 2017 3:56am
Quoting lemercenaire
The Weird Bunch as they start the day. A selection of different management techniques across the board today... Took a shallow-range Hal-style entry on the US30... {image} The 500 kicked off earlier and cleaner... {image} On the 100, price gapped on the Trigger-Bar and I entered at the level of the Set-Up bar's close (where the TB level would have been without the gap). There was an entry on the return bounce (not traded by me). The 100 is obviously going to be an interesting ride today, lol... {image} I missed the original entry on the DAX (which...
That's pretty weird...
  • #3,232
  • Apr 26, 2017 4:03am Apr 26, 2017 4:03am
My less weird grouping last hour six qualified and got the following: au +10, eu +5, nz +12, jy +9, cf +7, ca +7. I only took the au. So pretty much any of them would have beaten falling off a log.
  • #3,233
  • Apr 26, 2017 4:19am Apr 26, 2017 4:19am
Quoting hal7
{image} Having expounded on my great wisdom in last post. I got so wrapped up in why I would have not traded the EJ yesterday. I mistakenly took it long today as it had not made the lower low yet. But I had the foresight on this mistake to get out quickly with +5. So I am to the conclusion I may just be lucky.
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  • #3,234
  • Apr 26, 2017 4:24am Apr 26, 2017 4:24am
Quoting hal7
{quote} Thought I would weigh in on this one as it is an interesting question. The answer I feel is that that is your assignment for the next fifty years or so. When I was a youngster back in November I had much the same question. IMO nearly every pair offers an opportunity to get in by rules. However you do so at your own peril. There are many false signals along the way. I have yet to find a clear cut, what I call a tell. But I continue observing and noting and build on a sense of when and when not. You have to develop that for yourself over time....
EJ yesterday was just soooo tempting - and it just kept pounding away on your head...Like the girl you had your eye on in High School...no, no, no.
  • #3,235
  • Apr 26, 2017 4:29am Apr 26, 2017 4:29am
Attached Image


In a goofy mood today, like everyday, should have a good day trading...
  • #3,236
  • Apr 26, 2017 4:33am Apr 26, 2017 4:33am
Quoting hal7
{image} In a goofy mood today, like everyday, should have a good day trading...
Funny. Me too - some days it's like swimming up a waterfall. Some days, like today - it's all bright and bouncy.
  • #3,237
  • Apr 26, 2017 4:53am Apr 26, 2017 4:53am
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It helps.
  • #3,238
  • Apr 26, 2017 4:57am Apr 26, 2017 4:57am
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Back to business, got in this GJ way light but managed to extrude +5 and now extends to +10. You can see yesterday's arrow where I decided swimming against the tide was a good idea, but as I recall I still took profit out of that.

Ha, ha I meant late not light. It is getting late maybe. And probably was in light also.
  • #3,239
  • Apr 26, 2017 6:09am Apr 26, 2017 6:09am
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Back in the fray with this CF short, not a lot of movement in my direction this day but enough to get a +5 every now and then.
  • #3,240
  • Apr 26, 2017 7:14am Apr 26, 2017 7:14am
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Short the CA +5 profit locked.
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