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Trading is as simple as 1-2-3

  • #3,241
  • Apr 26, 2017 10:59am Apr 26, 2017 10:59am
The NAFTA hit the fan, lol...

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1redredredalertlol1-2-3forsomeone26thApril17.png Size: 29 KB


Anyone aboard this particular freight train?

Anyone willing to jump aboard at the switchback ...
  • #3,242
  • Apr 26, 2017 11:22am Apr 26, 2017 11:22am
Quoting lemercenaire
{quote} 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....

Hi LM,
what times do you use for to define the daily open and close for the USDCAD? Thank you,
  • #3,243
  • Apr 26, 2017 11:34am Apr 26, 2017 11:34am
Quoting courier12
{quote} Hi LM, what times do you use for to define the daily open and close for the USDCAD? Thank you,
I use my broker's Daily open time.
  • #3,244
  • Apr 26, 2017 11:43am Apr 26, 2017 11:43am
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....
MAYBE your EJ was conflicting with another HI/LOW set from previous day?
I don't know what are you are talking about.
  • #3,245
  • Apr 26, 2017 1:39pm Apr 26, 2017 1:39pm
Quoting lemercenaire
The NAFTA hit the fan, lol... {image} Anyone aboard this particular freight train? Anyone willing to jump aboard at the switchback ...
17 pip hard-stop is as big as it gets with me on here but it was a pretty solid bet to drop and I had a good profit-bank on the day to work with, so why not. The stop was set using the H4 landscape.

It took a bit of a wander into negative territory but after that, plain sailing.

Attached Image (click to enlarge)
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  • #3,246
  • Apr 26, 2017 2:19pm Apr 26, 2017 2:19pm
Quoting lemercenaire
{quote} 17 pip hard-stop is as big as it gets with me on here but it was a pretty solid bet to drop and I had a good profit-bank on the day to work with, so why not. The stop was set using the H4 landscape. It took a bit of a wander into negative territory but after that, plain sailing. {image}
Had a 10 pip SL
pretty solid one though! Ran a 15pip trailer. 36 pip hauler!
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  • #3,247
  • Apr 26, 2017 2:20pm Apr 26, 2017 2:20pm
Quoting lemercenaire
{quote} 17 pip hard-stop is as big as it gets with me on here but it was a pretty solid bet to drop and I had a good profit-bank on the day to work with, so why not. The stop was set using the H4 landscape. It took a bit of a wander into negative territory but after that, plain sailing. {image}
I thought you max out at 15pip SL!
  • #3,248
  • Apr 26, 2017 3:42pm Apr 26, 2017 3:42pm
does anyone open trades during odd hours?
or does everyone just trade at whatever hours?
or only when certain markets are open?
  • #3,249
  • Apr 26, 2017 4:16pm Apr 26, 2017 4:16pm
Quoting faatkumo
{quote} I thought you max out at 15pip SL!
It's my rule and I'll bend it when I want, lol
  • #3,250
  • Apr 26, 2017 4:20pm Apr 26, 2017 4:20pm
Quoting faatkumo
does anyone open trades during odd hours? or does everyone just trade at whatever hours? or only when certain markets are open?
I'm running various methods through pre UK Open to Close UK / Mid-Way through US. I'll then look at my Witching Hour end US / Pre-Asian.

1-2-3 is mainly UK and US, with the majority of trades triggering early in the sessions. Obviously this means you will get some mid-way of UK, as that is when US opens.
  • #3,251
  • Apr 26, 2017 4:27pm Apr 26, 2017 4:27pm
Quoting lemercenaire
{quote} I'm running various methods through pre UK Open to Close UK / Mid-Way through US. I'll then look at my Witching Hour end US / Pre-Asian. 1-2-3 is mainly UK and US, with the majority of trades triggering early in the sessions. Obviously this means you will get some mid-way of UK, as that is when US opens.
I got smacked taking an entry at 4 PM Eastern standard time on four trades.
  • #3,252
  • Apr 26, 2017 5:43pm Apr 26, 2017 5:43pm
Quoting faatkumo
{quote} I got smacked taking an entry at 4 PM Eastern standard time on four trades.
Nah - I'm never looking at 1-2-3 entries at what would be 9pm UK. I may see potential set-ups that I will check again in the am but no, I'd say that it'd be extremely rare if ever for me to take a new trade.
  • #3,253
  • Apr 26, 2017 5:47pm Apr 26, 2017 5:47pm
Quoting lemercenaire
{quote} Nah - I'm never looking at 1-2-3 entries at what would be 9pm UK. I may see potential set-ups that I will check again in the am but no, I'd say that it'd be extremely rare if ever for me to take a new trade.

So so what is best hours of trading. Or at least best cut off times
  • #3,254
  • Apr 26, 2017 5:50pm Apr 26, 2017 5:50pm
Quoting lemercenaire
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. {image}
Didn't really go anywhere but a couple of pick-ups nevertheless. I didn't have any interest in the later drift lower...

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  • #3,255
  • Apr 26, 2017 5:53pm Apr 26, 2017 5:53pm
Quoting faatkumo
{quote} So so what is best hours of trading. Or at least best cut off times
I'd say end close of UK I'd be looking to close things down tight, maybe an hour after that. You could then look back again at the Asian Open.

Hal is in Florida, so I'd say he's working the same hours as you are, near enough. Hal?
  • #3,256
  • Apr 26, 2017 6:29pm Apr 26, 2017 6:29pm
The Weird Bunch:

The original entry bombed and hit sl. I was prepared to re-enter, so kept it tight but it kept on going. I missed the first of the possible later entries but got the second bite in. Bagged that and walked away from it for the rest of the day.
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The 500 had been a similar situation but this one went fine. Again, I had no interest in the rest of the day's moves here.
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Over at the 100, we saw that that trade took off quite nicely. There was a really good short later in the day (probable double-entry) - though not traded by me.
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I hadn't been looking at a large move on the DAX but was pleasantly surprised as it dropped better than expected.
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Last but certainly not least came the F40. As noted at the time, I got a very quick bag short and then took the counter back up. Ended up doing ok, though nowhere near as good as the later short. Oh well.
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  • #3,257
  • Apr 27, 2017 3:05am Apr 27, 2017 3:05am
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First one out of the box this day EG +6 profit locked. Technically it did not move toward the low at all but I ignored that in this instance as I liked the PA.
  • #3,258
  • Apr 27, 2017 3:13am Apr 27, 2017 3:13am
Testing EJ 123 - thought I had a short but it looks in danger of being stopped out here -Daily had shown a jump up thus I expected more power to my short.
Constructive comment welcome :-)
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every Saint has a past. Every Sinner has a Future
  • #3,259
  • Apr 27, 2017 3:24am Apr 27, 2017 3:24am
All of The Weird Bunch have made moves of some sort. Only ones traded by me were the US30 and UK100. There was an earlier move on the 100 which originally went negative but came good - but not traded by me. I'm happy enough with that bounce...

Here's how they're looking just now:
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Attached Image (click to enlarge)
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Of the others - as I said, there's moves on them all - but hey, see for yourselves...
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The F40 was another which went for a bit of a wander into negative territory before heading off in the right direction. The reason it's marked as a trade is that you'd have been in the trade before that negative move...
Attached Image (click to enlarge)
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  • #3,260
  • Apr 27, 2017 3:30am Apr 27, 2017 3:30am
Quoting turnip15
Testing EJ 123 - thought I had a short but it looks in danger of being stopped out here -Daily had shown a jump up thus I expected more power to my short. Constructive comment welcome :-) {image}
Looks like it just missed getting at least 5. I don't see anything wrong with the trade other than a big stop loss around -28. I wasn't watching it but have been in em before. Could still move down again but likely a stop.
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