Let's get real, Wizzle's log

[aliassmith]

This particular chart is very good.



Serves as a good example for my previous post above.

In your previous post you mentioned fractals. Are you refering to the indicator? I just put that on my chart so I can remember when I get time to study the relationships.

Looks like our basic scalp trades are similar.

Fractals indicator (3 candles) depicts exactly the pointy tops and bottoms of a move. Yes. But some times it failed to identify them also. So your eyes will serve as a better indicator to identify them. This fractals is individualistic, it’s dangerous. So no, this is not the fractals I’m talking about.

I see that the indicator does not identify everything 3 candle pattern. Interesting to see and why its useful to know what your indicator is telling you instead of following them blindly.

Additionally you are saying that is not the fractals you are referring too?

Edit: I see why William's fractal doesn't plot all 3 candle fractals. The William's version uses 5 bars in its calculations.

[Don_xyZ]

In your previous post you mentioned fractals. Are you refering to the indicator? I just put that on my chart so I can remember when I get time to study the relationships.

Looks like our basic scalp trades are similar.

Fractals indicator (3 candles) depicts exactly the pointy tops and bottoms of a move. Yes. But some times it failed to identify them also. So your eyes will serve as a better indicator to identify them. This fractals is individualistic, it’s dangerous. So no, this is not the fractals I’m talking about.

I see that the indicator does not identify everything 3 candle pattern. Interesting to see and why its useful to know what your indicator is telling you instead of following them blindly.

Additionally you are saying that is not the fractals you are referring too?

Edit: I see why William's fractal doesn't plot all 3 candle fractals. The William's version uses 5 bars in its calculations.

Yes, William’s fractal is originally for 5 candles. But numbered fractals is stiff while the market is dynamic. Not a good match.

Scan that chart with 3 fractals in mind and you’ll see my entries are sometimes ahead of 3 candles fractals, other times after, but could also skip or even completely ignore and it can also be exactly after 3 fractal is formed. So yes, it’s a bit different. The detail is found in my what ifs list.

[Wizzlebizzle]

These are some examples on the M5.
If you try to get 5 pips per trade that's about 45 pips.
A semi-conservative Money Management could be 10 pips = 1%
for a 4.5% gain. (If you use a broker or prop firm with 1:20 leverage or higher)

If you have enough leverage to trade R:R based on 1% risk there was about 30R or 30% available on those trades.
I'm thinking 15R or 15% would be more likely of an outcome.

Depending on how much leverage you have and GBPUSD margin
you may need to go 15 pips = 1% for a 3% gain. (If you are using a prop firm with 1:10 leverage)
example: 100k@50%split = $3000 x .5 = $1500 or $250/hour

Then again that was about 6 hours of trading during London.

**The SL range was 1.5 to 6 pips. <---- that is how you can reduce risk
**Keep profits by not letting your downside get out of hand though Money Management
**Better trade selection and entry <--- if you are giving up an extra 3 pips on your entries you are adding risk.
**Learning to place a SL and not move it <---- keeps you out of big trouble.
**Adding to a loser when it's not in your plan <---- an account destroyer.
**You are scalping (micro swing) not looking for big moves unless it's an accident.
(price is close to your profit target and quickly moves another 5 pips in your favor and you hit close)
**When you take a loss keep going like it didn't happen, business as usual.

Been studying your chart for a while Alias, just trying to understand what you are doing and see if I can incorporate (some of) it.
Am I correct in the following?
* You trade only inline with the colour and slope of the MA
* Only long after a blue candle and short after a red candle and I see some entries after pinbars as well.

Two questions, if I may
I added a picture of your chart with two orange lines, why would you choose not to go short there?
Do you take a longer timeframe or bias in to account?

As for your general remarks, I have looked at my trades and how that would have worked had I done it that way and it gives me a way higher hitrate and lower drawdown (and risk). As expected I guess. Thank you.

Will experiment with the 5 pips profit and smaller stops if I have the time this.

[Wizzlebizzle]

GBPUSDM504142022a.png (49.88 KiB) Viewed 1050 times

[aliassmith]

These are some examples on the M5.
If you try to get 5 pips per trade that's about 45 pips.
A semi-conservative Money Management could be 10 pips = 1%
for a 4.5% gain. (If you use a broker or prop firm with 1:20 leverage or higher)

If you have enough leverage to trade R:R based on 1% risk there was about 30R or 30% available on those trades.
I'm thinking 15R or 15% would be more likely of an outcome.

Depending on how much leverage you have and GBPUSD margin
you may need to go 15 pips = 1% for a 3% gain. (If you are using a prop firm with 1:10 leverage)
example: 100k@50%split = $3000 x .5 = $1500 or $250/hour

Then again that was about 6 hours of trading during London.

**The SL range was 1.5 to 6 pips. <---- that is how you can reduce risk
**Keep profits by not letting your downside get out of hand though Money Management
**Better trade selection and entry <--- if you are giving up an extra 3 pips on your entries you are adding risk.
**Learning to place a SL and not move it <---- keeps you out of big trouble.
**Adding to a loser when it's not in your plan <---- an account destroyer.
**You are scalping (micro swing) not looking for big moves unless it's an accident.
(price is close to your profit target and quickly moves another 5 pips in your favor and you hit close)
**When you take a loss keep going like it didn't happen, business as usual.

Been studying your chart for a while Alias, just trying to understand what you are doing and see if I can incorporate (some of) it.
Am I correct in the following?
* You trade only inline with the colour and slope of the MA
According to my Deadhorse method yes
* Only long after a blue candle and short after a red candle and I see some entries after pinbars as well.
Entries are at zlines, Fair Value Gaps, and pinbars. Zlines and FVG only happen after engulfing candles (candles that close outside of the previous candle's range.

Two questions, if I may
I added a picture of your chart with two orange lines, why would you choose not to go short there?
None of the above as triggers
Do you take a longer timeframe or bias in to account?
I will look at some higher timeframe extremes to see if the market is targeting them.

As for your general remarks, I have looked at my trades and how that would have worked had I done it that way and it gives me a way higher hitrate and lower drawdown (and risk). As expected I guess. Thank you.

Will experiment with the 5 pips profit and smaller stops if I have the time this.

[Wizzlebizzle]

Ah.. that makes a lot more sense! I should have asked you this ages ago. Funny how you can look at something and not see it and then all of a sudden u do. A bit like those pictures with hidden images.

[aliassmith]

Ah.. that makes a lot more sense! I should have asked you this ages ago. Funny how you can look at something and not see it and then all of a sudden u do. A bit like those pictures with hidden images.

If you are using mt4 there is an indy calked doji momentum barz. It markes the engulfing bars. If you look at a lot of my charts with the white background its probably on those. To bad its not on mt5, I like it better.

[Wizzlebizzle]

Ah.. that makes a lot more sense! I should have asked you this ages ago. Funny how you can look at something and not see it and then all of a sudden u do. A bit like those pictures with hidden images.

If you are using mt4 there is an indy calked doji momentum barz. It markes the engulfing bars. If you look at a lot of my charts with the white background its probably on those. To bad its not on mt5, I like it better.

Thanks, yes I am using them.

Just gone through the later pages on your thread. It's almost identical what we are looking at in terms of entry. Good too know, and thanks again for the suggestion to take smaller stops and smaller profit targets, it really seems to make a difference.

Obviously didn't trade today because of the bank holidays, maybe tomorrow afternoon, if not later in the week.

[LeMercenaire]

These are some examples on the M5.
If you try to get 5 pips per trade that's about 45 pips.
A semi-conservative Money Management could be 10 pips = 1%
for a 4.5% gain. (If you use a broker or prop firm with 1:20 leverage or higher)

If you have enough leverage to trade R:R based on 1% risk there was about 30R or 30% available on those trades.
I'm thinking 15R or 15% would be more likely of an outcome.

Depending on how much leverage you have and GBPUSD margin
you may need to go 15 pips = 1% for a 3% gain. (If you are using a prop firm with 1:10 leverage)
example: 100k@50%split = $3000 x .5 = $1500 or $250/hour

Then again that was about 6 hours of trading during London.

**The SL range was 1.5 to 6 pips. <---- that is how you can reduce risk
**Keep profits by not letting your downside get out of hand though Money Management
**Better trade selection and entry <--- if you are giving up an extra 3 pips on your entries you are adding risk.
**Learning to place a SL and not move it <---- keeps you out of big trouble.
**Adding to a loser when it's not in your plan <---- an account destroyer.
**You are scalping (micro swing) not looking for big moves unless it's an accident.
(price is close to your profit target and quickly moves another 5 pips in your favor and you hit close)
**When you take a loss keep going like it didn't happen, business as usual.

Been studying your chart for a while Alias, just trying to understand what you are doing and see if I can incorporate (some of) it.
Am I correct in the following?
* You trade only inline with the colour and slope of the MA
According to my Deadhorse method yes
* Only long after a blue candle and short after a red candle and I see some entries after pinbars as well.
Entries are at zlines, Fair Value Gaps, and pinbars. Zlines and FVG only happen after engulfing candles (candles that close outside of the previous candle's range.

Two questions, if I may
I added a picture of your chart with two orange lines, why would you choose not to go short there?
None of the above as triggers
Do you take a longer timeframe or bias in to account?
I will look at some higher timeframe extremes to see if the market is targeting them.

As for your general remarks, I have looked at my trades and how that would have worked had I done it that way and it gives me a way higher hitrate and lower drawdown (and risk). As expected I guess. Thank you.

Will experiment with the 5 pips profit and smaller stops if I have the time this.

Clippety-Clop, Clippety-Clop...keeps on trotting on.

[LeMercenaire]

Ah.. that makes a lot more sense! I should have asked you this ages ago. Funny how you can look at something and not see it and then all of a sudden u do. A bit like those pictures with hidden images.

You didn't need to ask. It's all there: it's Dead Horse.

We both posted so many successful trades on charts, that both of us backed off for a while, as tbh, it got repetitive...but the info is all still there.

Sometimes you really do need to try extra hard to see the wood for the trees, sometimes, like those magic pictures, you see it first time.

Information overload when there is no need, is a killer.

Now, I hear hooves stomping impatiently outside and EA is calling to me once more. It's a dirty job but somebody's got to do it.