Ms. Mae’s Trade Strategy

expiated · Dec 12, 2017

I want to make a study of this trade to test a theory on the most effective way to maximize the amount of profit available from a single asset on a given move (or leg) up or down.

EURUSD looks like it might be reaching its take-profit target faster than AUDUSD, so I'm going to add it to my study.

expiated · Dec 12, 2017

expiated said:
EURUSD looks like it might be reaching its take-profit target faster than AUDUSD, so I'm going to add it to my study.

On second glance, I noticed that EURUSD does not have the necessary structure to qualify for what I am assessing, so I plan to lock in a handful of pips profits at 1.1734 (if it manages to return to that level) and only give it my attention afterward if warranted for other reasons.

expiated · Dec 13, 2017

expiated said:
I want to make a study of this trade to test a theory on the most effective way to maximize the amount of profit available from a single asset on a given move (or leg) up or down.

This plan would have worked okay, but I was never in front of my laptop at the right time to re-enter the position.

expiated · Dec 13, 2017

I’m hoping EURAUD is establishing the foot of what will eventually be a protracted trek northward.

expiated · Dec 13, 2017

expiated said:
I’m hoping EURAUD is establishing the foot of what will eventually be a protracted trek northward.

The paid DID initiate a turn north, but unfortunately, it was NOT protracted.

Xela · Dec 13, 2017

expiated said:
it was NOT protracted.

Sounds about right: there was certainly significant overhead resistance, in the chart you posted (not to mention an obvious downtrend).

supreme trader · Dec 13, 2017

expiated said:
The paid DID initiate a turn north, but unfortunately, it was NOT protracted.

Are you doing counter trend trading?
I don't like this Madam Mae trading strategy.

expiated · Dec 13, 2017

supreme trader said:
Are you doing counter trend trading?

No.

expiated · Dec 13, 2017

Xela said:
Sounds about right: there was certainly significant overhead resistance, in the chart you posted (not to mention an obvious downtrend).

EURAUD turned around at what I call the second level of “statistical resistance” at about 1.5549. Today I’m hoping to see EURUSD (currently at 1.1831) take a protracted trip south, but if not (if it disappoints me like EURAUD did yesterday), I calculate its first level of statistical support at 1.1824 and its second level at 1.1812. Should the intraday tend reverse north in either of these two areas I will exit the trade early to lock in my profit there.

expiated · Dec 14, 2017

expiated said:
I calculate its first level of statistical support at 1.1824

Next target is 1.1812 or less:

Locked in my profits at 1.1812...

Supreme Trader wrote that he does not like Ms. Mae's Trading Strategy, but that's fine with me. As long as the system enables me to correctly forecast in advance where price is more than likely headed and where there is high statistical probability it will run into support or resistance, others can hate it as much as they like.