Need somewhere to think out loud,

[Turveyd]

Well DAX is trading tomorrow, just the UK having a bank holiday, so peace for me work wise

7sma, 7sma Envelopes, 0.04% and 0.08% settings, go with the flow, play the ranges smart and I see no real issues.

Back to 2 position, moving SL's pains me, so fixed at 10 for 1st position, will move 2nd position to same place, likely risking $80 per trade area this way.

The Range is valid most of the time, so trade hard pretty much.

Big moves, ie breakouts from range, enter and ride them out would work well.

Also, Exit's range trades, don't be greedy, get some trend then can hold longer, get a breakout, then hold to 7sma is taken back out, got to learn to maximise thy profits, when available.

 

[Turveyd]

Down 50, 1 trade so far.

Final tweaks lol.

33sma for judging longer trend added.

The outter 7 envelope is removed, if it breaks the 0.04 then its momo has changed, no point playing for chop with a tight SL.

Mainly watching today, build confidence.

Not expecting any other changes.

 

[Turveyd]

No more trades, slowed the MA to 10 range 0.06%, removed the 33 again LOL trying to keep this minimalist as possible.

Working well from the live trades I've seen so far, ideal and what I'm after basically.

 

[Turveyd]

Quick test I guess, IF I was free and in the mood today, would I of done okay!!

Start 9:30am GMT, BE OBJECTIVE FOOL!!!

Downtrend, 1 entry small profit, next entry trend change likely -15
Breakout worked +15
Chop after up move +5
Break Down +15 again
Top range, scalp +4 turns for +25

Lets count range plays, work or not for the day....

FWFwFWWWW

Too damn tricky to test after the event, YES the theory works great, the logic is profitable, BUT Can I trade or learn to trade it that way.

I honestly think it's the best I've tried so far, potential is huge, trusting and taking the setups live tricky as always, there FAST which is the issue

Day free, I shall try!!

 

[Turveyd]

Lets try again, with 10's direction, Take a trade at 10sma, trade near envelope ( unless it goes straight through ), keep SL tight to Envelope!

1 +10
2 -8 -4
3 +8
4 +1 +5

just not the same as live, in live you get trapped.

SLEEP!!

 

[Turveyd]

F12 tests, need to build confidence, need to start making $$$'s and SOON!

26th April, 10:00gmt, long downtrend, just spiked down so tricky as always.

Lets see if this has more legs, short 10306, turning up, 2nd 312, 308 ?? Call it BE.

Uptrend, Long 309, BREAK out up hold, going flat +21

Tricky, mid turn down or pausing, down Short 325 +20 NICE!!

Kept going, missed reshorting it, cluster bottom 85 area, patience, momo slowing down, Long 285 SL tight, +7

This day worked GREAT, Live watching required for a while, then back into.

 

[Turveyd]

I quite like Handle123's TP +1 rule kinda, if a trend turns against me, a loss becomes likely TP+1 beats HOPE and taking the full SL loss.

Defo, need to lock on this, getting too confused between all of them, need to forget all others and focus on this.

SLEEP!!

 

[BonScott]

I quite like Handle123's TP +1 rule kinda, if a trend turns against me, a loss becomes likely TP+1 beats HOPE and taking the full SL loss.

Do you not need to back test this first?
I did a back test for my method based around Handles idea, and it showed that exiting after 3 minutes, with loss or profit, gives nearly the same profit as setting a target and waiting for it or the stop loss to be hit.

 

[Turveyd]

Just watching live testing, looking good.

Recent losses have been playing for continuation, where the markets just crashed through, using the 10sma to time reversal, only stronger markets play to continue on the 10 being taken out.

So entries are :-

1. Enter near 10 with direction and momo, 1/2 size, 2nd half near low range, SL outside.

2. No momo / direction, scalp either side of the 10 range. Tight SL maybe full position.

3. Zig Zag like last hour, 8am till 10am, 1/2 position 10 breaking, 2nd near previous high or outside 10 range.

Ps wrote this 5 hours ago, got busy

 

[Turveyd]

Do you not need to back test this first?
I did a back test for my method based around Handles idea, and it showed that exiting after 3 minutes, with loss or profit, gives nearly the same profit as setting a target and waiting for it or the stop loss to be hit.

Back testing on closed candles is never the same as live tick data, i prefer live testing time wise, just dont place trades, just play the what if game.

I've done enough testing to now the setups are valid and has merit, but taking them correctly live under stress of real $$$'s totally different story.