Need somewhere to think out loud,
- Thread starter Turveyd
- Start date
Been banging my head against a brick wall with M1 trading, guess it's time to start looking into slightly slower so M5 method under development, incase I still can't trade the M1 method live.
My 18/36 strategy seems to work on USDJPY M5 just the same interestingly as a starting point.
12 0.05% and 24 0.10% seem to work pretty well
Screen estate issues, going to drop EJ and NAS100 from my trading, add M5 UJ and GU.
Accuracy being lower, going to have to go to 3 or 4 positions and average into positions even more so, can live with that.
Same rules, play the range only with direction if there is a direction, play the 12's range, that fails, fall back is the 24's range, exiting to either take profit or if range fails or 24's direction changes, not entering when they don't agree, although entering just near the 24's range with direction is fine also.
Simples!!
DESPERATION, lets not rule M5 being slower out as better for my ageing brain cell.
My 18/36 strategy seems to work on USDJPY M5 just the same interestingly as a starting point.
12 0.05% and 24 0.10% seem to work pretty well
Screen estate issues, going to drop EJ and NAS100 from my trading, add M5 UJ and GU.
Accuracy being lower, going to have to go to 3 or 4 positions and average into positions even more so, can live with that.
Same rules, play the range only with direction if there is a direction, play the 12's range, that fails, fall back is the 24's range, exiting to either take profit or if range fails or 24's direction changes, not entering when they don't agree, although entering just near the 24's range with direction is fine also.
Simples!!
DESPERATION, lets not rule M5 being slower out as better for my ageing brain cell.
Interesting action so far, just watching mind too tired to trade.
M1 UJ turned to 18 based uptrend and did some good pts +11 area.
M5 UJ was downtrend, so short 30 ( 12 ) then 35 then 37, 42 SL currently 34 avg, going to 35.5 if I take a 40 short to. 24 showing strength but can't help that, that's what the SL is for, find out in the am.
Be a lot easier to trade M5 while at work / gym, lesser comm/spread to move issue to maybe.
UJ M5 sim, before I go to bed!!!
25th Apr 9am ish!!
Existing uptrend don't want to join near the 12.
Pull back L42 L37 SL 29 Exit 53 +11 +16 = +27 nice enough. ( That trend held all the way to 17 so +160 area in total nice )
Quick flick through ( faster on m5 LOL ) and very few moves outside of the 24's 0.10% range and trend changes.
UJ Currently, 12sma kicked it around 33, also went long, M1 called it also.
Madness = doing the same thing over and over again and expecting a different result, GUILTY here for sure.
5seconds total to swap to m1 to m5 and swap template, M5 template is blue lines, m1 yellow so I can tell what I've got loaded.
Lets DO IT!!!!
Basically trading M5 90% but keeping an eye on the M1 for a quicker trend change view.
Less trades, higher value profit and loss, in most of the day which is what I'm setup to do via tablets anyway, hell I can get 1/2 way to client, layby check open trade, less time sensitive.
Give it a week or 2 see how it feels, shame cause M1 trading really coming along, might be stupid time to change stuff up, but that's me..
M1 UJ turned to 18 based uptrend and did some good pts +11 area.
M5 UJ was downtrend, so short 30 ( 12 ) then 35 then 37, 42 SL currently 34 avg, going to 35.5 if I take a 40 short to. 24 showing strength but can't help that, that's what the SL is for, find out in the am.
Be a lot easier to trade M5 while at work / gym, lesser comm/spread to move issue to maybe.
UJ M5 sim, before I go to bed!!!
25th Apr 9am ish!!
Existing uptrend don't want to join near the 12.
Pull back L42 L37 SL 29 Exit 53 +11 +16 = +27 nice enough. ( That trend held all the way to 17 so +160 area in total nice )
Quick flick through ( faster on m5 LOL ) and very few moves outside of the 24's 0.10% range and trend changes.
UJ Currently, 12sma kicked it around 33, also went long, M1 called it also.
Madness = doing the same thing over and over again and expecting a different result, GUILTY here for sure.
5seconds total to swap to m1 to m5 and swap template, M5 template is blue lines, m1 yellow so I can tell what I've got loaded.
Lets DO IT!!!!
Basically trading M5 90% but keeping an eye on the M1 for a quicker trend change view.
Less trades, higher value profit and loss, in most of the day which is what I'm setup to do via tablets anyway, hell I can get 1/2 way to client, layby check open trade, less time sensitive.
Give it a week or 2 see how it feels, shame cause M1 trading really coming along, might be stupid time to change stuff up, but that's me..
Add MAE 24 0.05%, it's a good inside trend entry area, the 0.1% is more chop.
Market was downtrend, moved over the 0.05% which suggests momo change which it did.
Last pull back to 111.37 area, was M1's 36 0.04% low, so entry long there with the M5's direction, so 37 entry. SL 27 at the time, with entries at 34 then 31, SL tightened to 29 here, using the 0.05% which saves 5pts at odds are 0.05% goes trend might change, odds aren't good enough, Trend becomes chop, trend normally stays trend.
Going for a 3position system via M5 trades, M1 still 2 position.
SLEEP doubt I'll trade tomorrow well today, just watch for a while, plan to ride my bike aswell
Market was downtrend, moved over the 0.05% which suggests momo change which it did.
Last pull back to 111.37 area, was M1's 36 0.04% low, so entry long there with the M5's direction, so 37 entry. SL 27 at the time, with entries at 34 then 31, SL tightened to 29 here, using the 0.05% which saves 5pts at odds are 0.05% goes trend might change, odds aren't good enough, Trend becomes chop, trend normally stays trend.
Going for a 3position system via M5 trades, M1 still 2 position.
SLEEP doubt I'll trade tomorrow well today, just watch for a while, plan to ride my bike aswell
M5 write up on the day, ( it's quicker LOL )
UJ, upward trend, turned sideways, 18 0.05% called it, down worth 40pts but a long hold ( need to get head around that ), Cluster Reverse hard, hard to call joining as always.
Looks okay!!
GU looks quite good to.
Got to adapt to more hands off, this might be strange!!
UJ, upward trend, turned sideways, 18 0.05% called it, down worth 40pts but a long hold ( need to get head around that ), Cluster Reverse hard, hard to call joining as always.
Looks okay!!
GU looks quite good to.
Got to adapt to more hands off, this might be strange!!