Need somewhere to think out loud,
- Thread starter Turveyd
- Start date
Its morning, I’m awake about an hour, have been wishing i could jump on the PC and get making money, all week 11am+ still not awake or the focus to trade, today wide awake, typical.
By monday back to errrrr, feel rough cant be arsed no doubt lol
Not trading enough only current issue, don’t want to push myself into taking stupid trades, lets set a target of 5 trades average per day ( trades not positions ), should be easy enough, so +800 -200 = 600 profit per day based on avg profit 200, loss 200 and 80% win rate.
By monday back to errrrr, feel rough cant be arsed no doubt lol
Not trading enough only current issue, don’t want to push myself into taking stupid trades, lets set a target of 5 trades average per day ( trades not positions ), should be easy enough, so +800 -200 = 600 profit per day based on avg profit 200, loss 200 and 80% win rate.
No trades, this only really works at certain times of the day, got to be around for them, into the close is proving to be a good, pick a direction and continue, nearly got on Long which would of worked great 
Try harder tomorrow, mixture of chop and work hassles today and monday can't be arsed!1
Try harder tomorrow, mixture of chop and work hassles today and monday can't be arsed!1
Still trying to come up with a long term compromise on my settings.
Slower has a higher win rate, but very few trades and vice versa, hours of no trades bored then missed the 2 setups which did occur as yes bored!
Envelope 33ema 0.01 is main direction, dont trade against in trend.
Envelope 11sma 0.01 and 0.04 short term direction and range.
This is optimal for trend plays, great R:R great win rate, lets stop trying to make it work for chop.
Chop wise, sadly no BB Ema based, cant put on tablets
BB 33sma 2.4 with a black sma hiding mid line looks pretty good chop wise.
Might just have to make do with stopping out of chop.
Slower has a higher win rate, but very few trades and vice versa, hours of no trades bored then missed the 2 setups which did occur as yes bored!
Envelope 33ema 0.01 is main direction, dont trade against in trend.
Envelope 11sma 0.01 and 0.04 short term direction and range.
This is optimal for trend plays, great R:R great win rate, lets stop trying to make it work for chop.
Chop wise, sadly no BB Ema based, cant put on tablets
BB 33sma 2.4 with a black sma hiding mid line looks pretty good chop wise.
Might just have to make do with stopping out of chop.
On a day like today, where there is no real direction, well maybe 3hrs of slow direction in total, my little method becomes worthless AGAIN!!! Arrrseeeee!!
BB's I swear that's the adaptive solution, but can never trade them live, lets see if I can get my head around this time.
Only BB setting that works is BB 20 2.2 from the all the testing I've done.
So Method......
Envelope 20sma 0.01 and 0.05
BB 20 2.2
No conflicting directions, looks good in history, see it Live / Risk taking live trades on ?? going to have to watch and learn and try I guess.
I know when the trend periods are and how to join them, but still reduces my trading day to very few hours where I can make any $$$'s, which means bored and either stupid trades or losing interest and like today, ZERO trades
SLEEP, REPEAT!!
BB's I swear that's the adaptive solution, but can never trade them live, lets see if I can get my head around this time.
Only BB setting that works is BB 20 2.2 from the all the testing I've done.
So Method......
Envelope 20sma 0.01 and 0.05
BB 20 2.2
No conflicting directions, looks good in history, see it Live / Risk taking live trades on ?? going to have to watch and learn and try I guess.
I know when the trend periods are and how to join them, but still reduces my trading day to very few hours where I can make any $$$'s, which means bored and either stupid trades or losing interest and like today, ZERO trades
SLEEP, REPEAT!!
Guess he was having a golfing day or working on his yellow tan!
Okay Scrub Prior Plan...........
Okay, what do I want ???
1. A setup that offers >60% win rate.
2. A Setup that offers maybe 2x's on the profit to the risk.
3. A Setup that occurs often and is repeatable.
42ema has proven time and time again to be awesome, so got to work that into the plan.
Envelope 42ema 0.01 Yellow in play.
I then need a faster, but not too fast, to provide a range to play with 42 direction.
24sma, White
Envelope 24sma 0.04 Blue
Envelope 24sma 0.08 White
Sleep then give that a bash tomorrow, think I tried similar this week, but only with the 0.04 range, not 0.08, 0.04 fine for trend, but 0.08 covers me for chop.
Okay, what do I want ???
1. A setup that offers >60% win rate.
2. A Setup that offers maybe 2x's on the profit to the risk.
3. A Setup that occurs often and is repeatable.
42ema has proven time and time again to be awesome, so got to work that into the plan.
Envelope 42ema 0.01 Yellow in play.
I then need a faster, but not too fast, to provide a range to play with 42 direction.
24sma, White
Envelope 24sma 0.04 Blue
Envelope 24sma 0.08 White
Sleep then give that a bash tomorrow, think I tried similar this week, but only with the 0.04 range, not 0.08, 0.04 fine for trend, but 0.08 covers me for chop.