Daily Forex Trading

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Tue May 15, 2018 4:48 pm

LeMercenaire wrote:Or maybe not - I dunno. Too many rules for my wee brain. I just run a 50-Fib over it and wait for a Claudia-Move...Break - Close Over - Re-Test - Enter...

Or don't close over it and take the bounce.

It seems simple enough, I'm sure the way you trade it is considered a "zline" trade as well

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Re: Daily Forex Trading

Postby LeMercenaire » Tue May 15, 2018 5:12 pm

achooblessyou wrote:whew had to fix a nasty little 123 on EU forgot to check for news today. got caught in that bad US news. thankfully i had some trusty demand zones to paint me a clear path out of it, came out on top with 2% :mrgreen:

EG looking interesting at a demand zone that is located at the 50% of a some large momo


It's always strangely satisfying to grind your way out of trouble and come out ahead!

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Re: Daily Forex Trading

Postby achooblessyou » Wed May 16, 2018 5:58 pm

EU 123 today. took it both ways made %%% at london and then got some smaller % at NY

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Wed May 16, 2018 9:33 pm

Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png
.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png (24.77 KiB) Viewed 328 times


Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg (238.78 KiB) Viewed 328 times


Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.

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Re: Daily Forex Trading

Postby brettnchrism » Wed May 16, 2018 9:57 pm

LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.


Hey thanks again Lem sent you a pm also.

On example cant tell maybe the test was cut off looks like it opened and dropped? Maybe I cant see the test of the high. I appreciate your help going to watch this on a few pairs. Thanks again

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.
Your friend Brett

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Wed May 16, 2018 11:22 pm

brettnchrism wrote:
LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.


Hey thanks again Lem sent you a pm also.

On example cant tell maybe the test was cut off looks like it opened and dropped? Maybe I cant see the test of the high. I appreciate your help going to watch this on a few pairs. Thanks again

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.



''On example cant tell maybe the test was cut off looks like it opened and dropped? Maybe I cant see the test of the high. I appreciate your help going to watch this on a few pairs. Thanks again.''

Yeah, it's not the most perfect example, just the one I had to hand that filled most of the criteria and had just happened.

You're right, there was no test of the high, it just dropped away. In real life, you can either enter as soon as price drops away or you wait and take a chance that you don't get in at all as there is no test as here.

This is still a pretty unusual move - you will more often than not get a move up towards the high before a drop.

You'll also often get in on a move and then price will flip up to make a new high but not high enough to trigger a hard-stop and so you will still get the move when / if it turns back in your favour. One of the reasons you can't always trust back-testing.

I'll try and find a better example once I open up the charts again tomorrow.

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Re: Daily Forex Trading

Postby achooblessyou » Thu May 17, 2018 1:48 am

brettnchrism wrote:
LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.


Hey thanks again Lem sent you a pm also.

On example cant tell maybe the test was cut off looks like it opened and dropped? Maybe I cant see the test of the high. I appreciate your help going to watch this on a few pairs. Thanks again

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.

I usually trade ones with a healthy test and only keep my eye on the ones that drop quickly as sometimes there is a move back into the wick.

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Thu May 17, 2018 1:50 am

I absolutely love this style of trading. It pretty much forces you to stick the the fundamentals of buying low or selling high

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Re: Daily Forex Trading

Postby LeMercenaire » Thu May 17, 2018 6:29 am

achooblessyou wrote:
brettnchrism wrote:
LeMercenaire wrote:Brett has asked me if I could explain the 1-2-3 method that myself and Achoo occasionally reference here (including, coincidentally, the post above).

Well, first thing, I should point out that this has nothing to do with the 1-2-3 pattern talked about at times through the threads here. In fact, we should say that this is a 1-2-3 sequence.

1: Did the H1 bar (#1) make a new High on the day?
If yes, then...
2: Did the following H1 bar (#2) try and fail to make a new High?
If yes, then...
3: Enter SHORT as price crosses back down across the Open Level of Bar #2. (Marked with red circle on the chart below).

Opposite for Long entries.


Hey thanks again Lem sent you a pm also.

On example cant tell maybe the test was cut off looks like it opened and dropped? Maybe I cant see the test of the high. I appreciate your help going to watch this on a few pairs. Thanks again

I did not invent this method - in fact the reason I gravitated towards it in the first place was because I had used something along the same lines on the very high time-frames I used to trade and knew it worked. This particular variant comes via TooSlow over in ''The Other Place'' via our very own Stainless Steel Rat, TRO.

Myself and HAL over there, the two main contributers to the thread, take 90 - 95% off at the +5 mark and let the rest run - plus I will not hestitate to re-enter should price flip and flip again. I will also counter trade on any move that goes negative to keep any bad trade in limbo and to add some extra swag to the bank to give me a head start on my target figure.

The method is deceptively simple and is rock-solid. It repeats and repeats ad infinitum and rewards fine tuning with the ability to relentlessly bank pips.

It will run on any FX pair (though HAL and TS have their favourites and UC is particularly suited to it, due to its tendency to ''top-and-tail'' the day).

I also run it on a stable of indices, my ''Weird Bunch'' - DAX, F40, S&P, US30 and FTSE - and it rocks big time with those.

Here's that chart to give a visual component to the above chunk o' info...

.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett.png

Detail:
Inked.US500.H1aspicture-perfect1-2-3May16th18withmarkedentryEGforBrett_LIcrop.jpg

Also, yes, the previous high was also a valid set-up and would have bagged the +5 but I ignored that for clarity here. Plus, there's nothing about only taking one bite of a 1-2-3 cherry. In fact, you will often get one or two small moves before a larger, solid kicker.

Anyway, there ya' go.

Any questions, feel free to ask as always.

I usually trade ones with a healthy test and only keep my eye on the ones that drop quickly as sometimes there is a move back into the wick.


Indeed.

There is one variation on the theme, which we call a HAL-Special, in which if we get a major momo candle as candle #1, we do not wait for candle #2 to form but instead enter if price drops back over the Bar #1's Open price.

There is nothing to stop you from simply freelancing and getting in on any immediate retrace if you have a situation where this bar has run up into a Supply or Demand Zone. We will be in RAT-Trade territory here after all.

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Re: Daily Forex Trading

Postby achooblessyou » Thu May 17, 2018 7:23 am

oh baby bankin'-break crumbs at +5 locked looking for pivot just above high of day. made a nice 2% on that trade and hopefully another 1% with the runner
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