Technical Trading Setups Journal

[achilles28]

Quote from Xspurt:

Your detailed answer to my question helps me give an answer that might help move you forward.

The 4hr chart at the point of my question was displaying a candle signal and I wanted to see if you were reading that or more inclined to read structures.

First of all, to answer your question on how often I can make calls like this, most days would be the case. Most days can be mapped out in advance for the major swings, almost every day has a 60m gameplan swing chart that again is plotted in advance and these are to pick up the major moves like trade of the day. Every day has various Bosses that pop up within the 60m gameplan and give the current direction, usually in the 10 to 30m time frame.

One of the guys in the room is learning to do this using stochastics on multiple time frames. Another way to do this is by using candle signals on quality set ups and seeing where the strongest set up is developing and using the time expectancy in that time frame to drive the direction. This is a starting point but obviously it needs a lot of refinement.

I have a number of examples on the Dow thread on bigger timescales but the principle holds true on any timeframe.

In the Eur lots of my trades would be taken below the 1m time frame but using this Map - Gameplan - Boss method it allows me to switch from scalping to holding for a much bigger return.

Well, if I'm not mistaken, the question was asked sunday morning? If that's the case, the candle in question was the last candle made on March 16th, the inside bar (red doji), right next to the huge green bull candle. To be honest, I wouldn't have read anything in particular from that candle signal. I'm not exactly sure what you mean by candle signals (single candle, dual candle?) and quality setups? This probably goes to the heart of the strategy, and appreciate u might want me to work for it a bit more. I understand the concept of time frame dominance (higher > lower) and follow the logic of bossing and catching lower time frame fractals in the direction of the larger time frame move. Can we continue the lesson with the current Eurousd 4 hr candle that just opened at midnight? I will also check out the dow thread..

 

[RedTankEra]

Quote from cornixforex:

Yes, I call these backtests using the BSOT abbreviation (meaning backside of the trendline).

Posted a few examples in this thread before. They are good confirmations of breakouts and also can be good entry/re-entry points. For example if one missed the first leg of the move, BSOT often gives nice entry into the second leg of the new born trend.

Yes my trading mostly revolves around these backtests and obviously their fakeouts which got other peculiar characteristics.

There's more but I like to keep it simple, not too many timeframes, just quality over quantity. I like to trade hard but not too often, and not very interested in small gains, this requires massive patience or lot of work using multiple instruments, depends on my mood I suppose.

Best of luck to you, good blog and thread, you have a kind spirit.

 

[cornix]

Quote from RedTankEra:

Yes my trading mostly revolves around these backtests and obviously their fakeouts which got other peculiar characteristics.

There's more but I like to keep it simple, not too many timeframes, just quality over quantity. I like to trade hard but not too often, and not very interested in small gains, this requires massive patience or lot of work using multiple instruments, depends on my mood I suppose.

Best of luck to you, good blog and thread, you have a kind spirit.

Thank you for supportive words.

My view on simple vs complex is the following: baby first learns to stand, then walk and then run. So it's always better to get consistent with the basic stuff, learn to see nuances of simple setups (good focus and experience in trading simple setups can dramatically improve one's edge in trading them) and only then add something else as an extra tool.

It's not only trading, it's learnt this way in nearly every area of human activity.

That's why I show simple, even primitive setups often, while being sure they are easier to understand than complex ones and knowing for sure they "work" (in quotes, cause everything works with enough experience and nothing does without it).

 

[clightmarathon]

Quote from jabguilford:

This was a good thread when it was cornixforex. Why don't xspurt et al start their own.

Cornix, making a new handle just for this post ?!
just kidding...

I like the xspurt et al contributions in this thread keep them coming ...

 

[cornix]

Quote from clightmarathon:

Cornix, making a new handle just for this post ?!
just kidding...

I like the xspurt et al contributions in this thread keep them coming ...

LOL.

I think it's good we have different opinions and should consider them all, driving the thread in a way, which most readers would like.

So some constructive suggestions and criticisms are appreciated.

 

[clightmarathon]

Here is my first scalp today, I was expecting a test of yesterday's high, but did not happen so far. So after the triple top , shorted the pullback after the break of a minor trend line. (did not hold long though, since we hit the channel line.)

 

[cornix]

Quote from clightmarathon:

Here is my first scalp today, I was expecting a test of yesterday's high, but did not happen so far. So after the triple top , shorted the pullback after the break of a minor trend line. (did not held long though, since we hit the channel line.

Very good one, rolled over into 1H trendline break.

 

[achilles28]

Quote from cornixforex:

LOL.

I think it's good we have different opinions and should consider them all, driving the thread in a way, which most readers would like.

So some constructive suggestions and criticisms are appreciated.

This is one of the best journals I've read on ET. Seriously. Good job, man.

 

[cornix]

Quote from achilles28:

This is one of the best journals I've read on ET. Seriously. Good job, man.

Thanks.

It's not just me, but everyone who constructively participates makes any thread quality. So everything is in our hands.

 

[Xspurt]

Quote from achilles28:

... To be honest, I wouldn't have read anything in particular from that candle signal. I'm not exactly sure what you mean by candle signals (single candle, dual candle?) and quality setups? This probably goes to the heart of the strategy, and appreciate u might want me to work for it a bit more...

Thanks achilles28, I wanted to see if your candle reading skills were up to the job for making use of your multiple time frame skills. Unfortunately I am too pushed for time to take you on a course of speed speed candle set ups

If you Google single candle signal set ups you should be able to get what you need and I have covered some of this on the Dow thread.

Your question was relating to how I predict moves and it is part fast candle signals plus Hurst cycles.

Also using the techniques Cornix demonstrates here on multiple time frame analysis will keep you on the right side of the moves which is really the most important part.