Daily Forex Trading

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Wed Oct 17, 2018 2:49 pm

Update: +19 now. Stop tightened.

Z-Line area, so not willing to lose it all. Can always re-enter if I get shaken off.

Stack if it goes on.

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Mira
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Re: Daily Forex Trading

Postby Mira » Wed Oct 17, 2018 6:01 pm

LeMercenaire wrote:Got a Russ2K trade off and running after nursing it for most of the day (set up last night). +16 so far, profit locked in already. Will post charts when I get back in.

There will be dots :P


Dots, I’m intrigued 8)
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Re: Daily Forex Trading

Postby LeMercenaire » Wed Oct 17, 2018 6:43 pm

Good call to tighten that stop. Didn't go any farther and turned all the way back. The lines light the way once more...

Russ2K-FullDrop17thOct18crop.png
Russ2K-FullDrop17thOct18crop.png (94.82 KiB) Viewed 329 times


Russ2K-FullDrop17thOct18-DOTS-crop.png
Russ2K-FullDrop17thOct18-DOTS-crop.png (97.29 KiB) Viewed 329 times


Russ2K-FullDrop17thOct18-DOTS-Fini-crop.png
Russ2K-FullDrop17thOct18-DOTS-Fini-crop.png (121.9 KiB) Viewed 329 times


Watching brief for now but I'll see how it sits tomorrow in case I get a re-entry signal.

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Re: Daily Forex Trading

Postby LeMercenaire » Wed Oct 17, 2018 6:50 pm

At the extreme - stop in place and profit locked in...

Russ2K-FullDrop-StopLockInPlace17thOct18crop.png
Russ2K-FullDrop-StopLockInPlace17thOct18crop.png (62.38 KiB) Viewed 328 times

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Mira
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Re: Daily Forex Trading

Postby Mira » Wed Oct 17, 2018 7:35 pm

LeMercenaire wrote:Good call to tighten that stop. Didn't go any farther and turned all the way back. The lines light the way once more...

Russ2K-FullDrop17thOct18crop.png

Russ2K-FullDrop17thOct18-DOTS-crop.png

Russ2K-FullDrop17thOct18-DOTS-Fini-crop.png

Watching brief for now but I'll see how it sits tomorrow in case I get a re-entry signal.


Lem, have you ever tried to use EIGHTS?

It’s close to the style you’re trading at the moment, if I understood how you’re using that dots I mean.
__________ THE :smt096 IS A LIE__________

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Re: Daily Forex Trading

Postby LeMercenaire » Wed Oct 17, 2018 9:33 pm

Mira wrote:
LeMercenaire wrote:Good call to tighten that stop. Didn't go any farther and turned all the way back. The lines light the way once more...

Russ2K-FullDrop17thOct18crop.png

Russ2K-FullDrop17thOct18-DOTS-crop.png

Russ2K-FullDrop17thOct18-DOTS-Fini-crop.png

Watching brief for now but I'll see how it sits tomorrow in case I get a re-entry signal.


Lem, have you ever tried to use EIGHTS?

It’s close to the style you’re trading at the moment, if I understood how you’re using that dots I mean.


I know of EIGHTS. I even have the indicator on a handful of charts. However, I have no doubt I am not using it as it was intended. I had it as a scalping ''method'', where I had a bias established (in whatever way, latterly I used a SEMA 3 on H1), waited for an open in between two lines on m15 / m5, whatever and I'd enter in as price crossed over the next line in the direction of the bias.

My understanding was that EIGHTS was actually a trade management methodology. Yes? No?

As for DOTS, I am looking for clusters in areas-of-interest / hot-spots and then trading away from them (very basic explanation, as the actual entries do depend on other info).

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Re: Daily Forex Trading

Postby Mira » Thu Oct 18, 2018 7:36 am

LeMercenaire wrote:
Mira wrote:
LeMercenaire wrote:Good call to tighten that stop. Didn't go any farther and turned all the way back. The lines light the way once more...

Russ2K-FullDrop17thOct18crop.png

Russ2K-FullDrop17thOct18-DOTS-crop.png

Russ2K-FullDrop17thOct18-DOTS-Fini-crop.png

Watching brief for now but I'll see how it sits tomorrow in case I get a re-entry signal.


Lem, have you ever tried to use EIGHTS?

It’s close to the style you’re trading at the moment, if I understood how you’re using that dots I mean.


I know of EIGHTS. I even have the indicator on a handful of charts. However, I have no doubt I am not using it as it was intended. I had it as a scalping ''method'', where I had a bias established (in whatever way, latterly I used a SEMA 3 on H1), waited for an open in between two lines on m15 / m5, whatever and I'd enter in as price crossed over the next line in the direction of the bias.

My understanding was that EIGHTS was actually a trade management methodology. Yes? No?

As for DOTS, I am looking for clusters in areas-of-interest / hot-spots and then trading away from them (very basic explanation, as the actual entries do depend on other info).


Yes it’s a trade management methodology and a trading strategy too.
MO shared a technique very similar to your Dots:
wait for a cluster of closes (2+ dots) between two lines and trade away from the zone in the direction of the breakout.
Risk 2 lines and target 2 lines (or more if you want more).

Lines are hourly ATR based, switching from H1 to H4 means that you’re doubling the lines width and cutting in half your lot size, the same process for H4 -> D1.
With this information you could follow the range expansion and ‘adjust’ the size of your trade accordingly, or build up an entire new strategy on it.

You spread your risk over N lines and that is your risk box

I.e 4% over 8 lines = 0.5% per line.
After your first trade (+ 2 lines) you normalize risk like this: (10/8)*0.5 = 0.625% per line for the next trade.
In case of loss you could reduce your risk box and normalize risk to “slow down” the loss.
I.e (6/7)0.625% = 0.53% per line on your next trade, you’re not down so much.

As you see you add up very fast, keeping the risk always the same (-4% after you lost all the risk box).
__________ THE :smt096 IS A LIE__________

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Re: Daily Forex Trading

Postby LeMercenaire » Thu Oct 18, 2018 9:10 am

Mira wrote:
LeMercenaire wrote:
Mira wrote:
Lem, have you ever tried to use EIGHTS?

It’s close to the style you’re trading at the moment, if I understood how you’re using that dots I mean.


I know of EIGHTS. I even have the indicator on a handful of charts. However, I have no doubt I am not using it as it was intended. I had it as a scalping ''method'', where I had a bias established (in whatever way, latterly I used a SEMA 3 on H1), waited for an open in between two lines on m15 / m5, whatever and I'd enter in as price crossed over the next line in the direction of the bias.

My understanding was that EIGHTS was actually a trade management methodology. Yes? No?

As for DOTS, I am looking for clusters in areas-of-interest / hot-spots and then trading away from them (very basic explanation, as the actual entries do depend on other info).


Yes it’s a trade management methodology and a trading strategy too.
MO shared a technique very similar to your Dots:
wait for a cluster of closes (2+ dots) between two lines and trade away from the zone in the direction of the breakout.
Risk 2 lines and target 2 lines (or more if you want more).

Lines are hourly ATR based, switching from H1 to H4 means that you’re doubling the lines width and cutting in half your lot size, the same process for H4 -> D1.
With this information you could follow the range expansion and ‘adjust’ the size of your trade accordingly, or build up an entire new strategy on it.

You spread your risk over N lines and that is your risk box

I.e 4% over 8 lines = 0.5% per line.
After your first trade (+ 2 lines) you normalize risk like this: (10/8)*0.5 = 0.625% per line for the next trade.
In case of loss you could reduce your risk box and normalize risk to “slow down” the loss.
I.e (6/7)0.625% = 0.53% per line on your next trade, you’re not down so much.


As you see you add up very fast, keeping the risk always the same (-4% after you lost all the risk box).


I remember MO telling me about the ''trade away from the grouping'' technique way back when - and the grand simplicity of it was instantly appealing.

As we all know, it's not how or why you enter a trade that matters but what you do next.

Interesting stuff, Mira, thanks.

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Re: Daily Forex Trading

Postby LeMercenaire » Fri Oct 19, 2018 3:32 pm

Quiet day overall for me - it is Friday after all :P

Family stuff kept me busy but couldn't resist how this looked.

US Crude - nice climb through the day.

10 min charts.

US-Crude-niceclimbthroughday19thOct18-crop-10minChartDOTS.png
US-Crude-niceclimbthroughday19thOct18-crop-10minChartDOTS.png (68.36 KiB) Viewed 224 times


US-Crude-niceclimbthroughday19thOct18-crop-10minChart.png
US-Crude-niceclimbthroughday19thOct18-crop-10minChart.png (62.38 KiB) Viewed 224 times

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Fri Oct 19, 2018 4:56 pm

A couple on the watch List for me for next week.

Best of which at the moment is probably the 500, where if nothing changes, I'd be looking for a drop...

US500-WaitingForADropNextWeek19thOct18crop.png
US500-WaitingForADropNextWeek19thOct18crop.png (142.08 KiB) Viewed 223 times

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