Need somewhere to think out loud,

[Turveyd]

Yen and CL moving great, recently. 3rd bounce? Finding this method always requires a leap of faith on pullbacks. Just the nature of the business, afaict...

Wasn't the 100ema it was the 300ema TIRED!!

3rd generally fails I find, traps in all the 1's that missed the 2nd bounce ( ie double bottom ), not perfect ofcourse.

Need to fast ( not eat ) for 24 - 48hours I think, I think the xmas eating sod it fest is still on going and ruining me or just the time of the year.

 

[achilles28]

Can you post a chart?

 

[Turveyd]

Can you post a chart?

Yeah, approx this, ( white line in Long, then out then repeat )

Not really what I'm after, but can play the range with any of my trends, 30, 100, 300 ema's for small scalps.

 

[Turveyd]

This is what I'm after, playing that range with faster trends, the arrows are where I should be entering, look at the pips made of those entries.

No trend, stay out, don't try to call bottoms / tops.

 

[achilles28]

Interesting. Thanks. I'm just winging it, atm. Not even sure what I'm doing. Seems like waiting for pauses in countertrend action in a pullback...

 

[Turveyd]

Try my setup for a while, it spells out nicely the direction and the noise level.

Moving Down, Pause move up, is generally to a lower high ( you can see from my 10sma Envelope range ), then generally to lower and with the DAX it's quick so not much time to take the profit, limited upside aswell, flip it on the head and take the pause with the markets direction and hey presto your rich.

I can get 10 small profits in a row off what your doing then, 1 crashes through the SL and stops out at -25 rather than -12 and gives it all away, well most.

Hard to trade it in the direction I want to, too many years doing it the newbie way, but it's getting there.

 

[Turveyd]

Giving too much back currently, where it kinda wanders slowly against me, so I move the SL to give it room and take a 2nd position or 3rd LOL then it changes direction on me, fixing that slowly.

Still up 10x's in 15months but I'm not making what I want to be making, getting there slowly.

 

[achilles28]

Giving too much back currently, where it kinda wanders slowly against me, so I move the SL to give it room and take a 2nd position or 3rd LOL then it changes direction on me, fixing that slowly.

Still up 10x's in 15months but I'm not making what I want to be making, getting there slowly.

Ya, I get this too. That's the trick. I'm not sure theres a way around this (ie timing pullbacks). I had a 35 pip profit in the yen the other day, but gave it back when the pullback turned into a reversal. Learning here...

 

[achilles28]

I think it'll benefit us to consider the following trading proverbs:

1) the trend is your friend
2) cut your losses small and let your winners run.


We've got #1 down.

#2 is something to consider. I think there's a couple ways to play it:

a) trade with tighter stops, all-in all-out, in the direction of the trend on pullbacks.
b) trade like Livemore and pyramid into a position. That way a full position may be 5-6 trades, so any one loss represents ~1/5th of a full position.

In both instances, losses are kept SMALL. Whatever we do, we need to keep our losses SMALL. How to do this, exactly? Still working on it.

 

[Turveyd]

I think it'll benefit us to consider the following trading proverbs:

1) the trend is your friend
2) cut your losses small and let your winners run.


We've got #1 down.

#2 is something to consider. I think there's a couple ways to play it:

a) trade with tighter stops, all-in all-out, in the direction of the trend on pullbacks.
b) trade like Livemore and pyramid into a position. That way a full position may be 5-6 trades, so any one loss represents ~1/5th of a full position.

In both instances, losses are kept SMALL. Whatever we do, we need to keep our losses SMALL. How to do this, exactly? Still working on it.

Keeping your losses small is easy!!!

2 things, maybe 3.

1. I use Heiken Ashi and don't trade against the current direction according to this, which better times pull back reversals with the longer trend, aim is to get in near low of the range, SL is auto set to 12 but I close it when I can and manually exit if it starts to turn against me.

Okay put it all in 1 LOL

I also try to use Heiken Ashi for my exit, it works pretty well, keeps me in wayyyy longer.

I also don't hold against HA, I'm long HA turns red take thy profit.

Try to stay out of slow times, when the market isn't really doing anything, the boredom makes you do stupid things I find.

For a Long position, I only need to be above 1 of my EMA's, 30, 100 or 300, doesn't matter which, then I take the trade near the 10sma Envelope 0.007%'s lows, or the 0.003% mid point on faster markets, most of the time if the current direction hold, it'll hold.

By taking advantage of the 10's range, that's basically within there meaningless noise, but even if the trade goes bad, if you get in at the low, good odds you'll get out at the top, if the top's coming down then good odds it'll keep going down, exit and short.

Never trade against the 10's direction, if it's strong aswell.

Confused you will be, but it works GREAT, just got to fight your instincts, it's easy to play a down move for a reversal, but tricky to take the up spike in the down move and short it, for some strange reason, you fear it'll keep going up, 80% of the time it doesn't