Lem's Big Box O' Stuff.

[LeMercenaire]

Well, our good-looking play turns out to be a busted flush. Disappointing but what can you do.

Closed back above the cloud on the 30-min and so I bailed. Just as well, as it turned out as price jumped and would have doubled the loss had I held it for a candle longer.

In total, three trades, -30 -35 -45 so not great. I did have that covered by the opening move scalps however, so my own acc didn't take the hit, just this chalkboard example.

It's another of those things. Trying to pick the perfect example to show, out of maybe 10 options...and so far when I have been doing this, it is inevitable that the one I choose to run with here is the one that loses, lol.

I am not however, prepared to flood the thread with even more charts, just to catch the one that comes good and covers the losses of the others...which is how you obviously have to run this kind of trading method in real life situations.

What it does do for us though, is kind of show the way it tends to go in real life. You can see that there is a method that seems to work...hell, everyone else using it is making money - but every trade you take goes wrong. Sound familiar?

Sooooooooo...maybe this is a good thing.

Now I will try and show how I will use this method. The fact that you can run on the HTF charts but use scalping techniques to maximise the return.

Is this going to do the job for those 9-5 workers looking for a set-and-forget? Well, admittedly, probably not...but I think it is a valid illustrative point.

I'll run some of these my way for a bit now and then will attempt to find a way more suited to the exact needs of those poor folks who have a boss.

Hope that works for y'all.

[aliassmith]

Well, our good-looking play turns out to be a busted flush. Disappointing but what can you do.

Closed back above the cloud on the 30-min and so I bailed. Just as well, as it turned out as price jumped and would have doubled the loss had I held it for a candle longer.

In total, three trades, -30 -35 -45 so not great. I did have that covered by the opening move scalps however, so my own acc didn't take the hit, just this chalkboard example.

It's another of those things. Trying to pick the perfect example to show, out of maybe 10 options...and so far when I have been doing this, it is inevitable that the one I choose to run with here is the one that loses, lol.

I am not however, prepared to flood the thread with even more charts, just to catch the one that comes good and covers the losses of the others...which is how you obviously have to run this kind of trading method in real life situations.

What it does do for us though, is kind of show the way it tends to go in real life. You can see that there is a method that seems to work...hell, everyone else using it is making money - but every trade you take goes wrong. Sound familiar?

Sooooooooo...maybe this is a good thing.

Now I will try and show how I will use this method. The fact that you can run on the HTF charts but use scalping techniques to maximise the return.

Is this going to do the job for those 9-5 workers looking for a set-and-forget? Well, admittedly, probably not...but I think it is a valid illustrative point.

I'll run some of these my way for a bit now and then will attempt to find a way more suited to the exact needs of those poor folks who have a boss.

Hope that works for y'all.

It works like that sometimes. You add to a daily chart and it whips back to get you. That's why I like to build and scalp on a big move like a daily.

[LeMercenaire]

Well, our good-looking play turns out to be a busted flush. Disappointing but what can you do.

Closed back above the cloud on the 30-min and so I bailed. Just as well, as it turned out as price jumped and would have doubled the loss had I held it for a candle longer.

In total, three trades, -30 -35 -45 so not great. I did have that covered by the opening move scalps however, so my own acc didn't take the hit, just this chalkboard example.

It's another of those things. Trying to pick the perfect example to show, out of maybe 10 options...and so far when I have been doing this, it is inevitable that the one I choose to run with here is the one that loses, lol.

I am not however, prepared to flood the thread with even more charts, just to catch the one that comes good and covers the losses of the others...which is how you obviously have to run this kind of trading method in real life situations.

What it does do for us though, is kind of show the way it tends to go in real life. You can see that there is a method that seems to work...hell, everyone else using it is making money - but every trade you take goes wrong. Sound familiar?

Sooooooooo...maybe this is a good thing.

Now I will try and show how I will use this method. The fact that you can run on the HTF charts but use scalping techniques to maximise the return.

Is this going to do the job for those 9-5 workers looking for a set-and-forget? Well, admittedly, probably not...but I think it is a valid illustrative point.

I'll run some of these my way for a bit now and then will attempt to find a way more suited to the exact needs of those poor folks who have a boss.

Hope that works for y'all.

It works like that sometimes. You add to a daily chart and it whips back to get you. That's why I like to build and scalp on a big move like a daily.

It has genuinely been a good thing to see, actual trading results aside, as it definitely is a perfect illustration of the kind of comments you hear from new traders all the time.

Lets see if I can make something constructive out of it going forward now.

[LeMercenaire]

Of course, it should also be pointed out that up on the H4 chart, we would still have the option of hanging in there...

UJ H4

UJstillshowingonH4April2nd2020.png (87.76 KiB) Viewed 1445 times

This could then have been hedged as price broke back between the two clouds.

UJ H1

UJcouldhavebeenhedgedonH1April2nd2020.png (78.82 KiB) Viewed 1445 times

That way, as Alias says above, the boundaries of the trade are set by the H4 (or Daily in his case).

[LeMercenaire]

We still have a small glimmer of hope.

Check out the minor Fib-Level touch here. How perfect is that!

UJ H4 23.6 Fib-Touch

UJH4andlookattheFibLevelTouch2ndMarch2020.png (82.55 KiB) Viewed 1444 times

[LeMercenaire]

Full Thunder and Lightning.

UJ H4

UJasFullThunderAndLightningH4April2nd2020.png (68.81 KiB) Viewed 1444 times

[aliassmith]

Of course, it should also be pointed out that up on the H4 chart, we would still have the option of hanging in there...

UJ H4

UJstillshowingonH4April2nd2020.png

This could then have been hedged as price broke back between the two clouds.

UJ H1

UJcouldhavebeenhedgedonH1April2nd2020.png

That way, as Alias says above, the boundaries of the trade are set by the H4 (or Daily in his case).

Based on your analysis and the h4 I got in late at 108.047 with a stop at 106.897. The daily has a lot of running room so let's see. So about .5% risk to start.

[LeMercenaire]

Of course, it should also be pointed out that up on the H4 chart, we would still have the option of hanging in there...

UJ H4

UJstillshowingonH4April2nd2020.png

This could then have been hedged as price broke back between the two clouds.

UJ H1

UJcouldhavebeenhedgedonH1April2nd2020.png

That way, as Alias says above, the boundaries of the trade are set by the H4 (or Daily in his case).

Based on your analysis and the h4 I got in late at 108.047 with a stop at 106.897. The daily has a lot of running room so let's see. So about .5% risk to start.

[/color]

Kl kl. As I write, price has pushed a little higher but nothing too spectacular at this time of day/night.

''S&P affirms United States’ AA+ credit rating, says outlook remains stable with the “expectation that unprecedented fiscal and monetary stimulus will limit the economic downturn.'' '' CNBC Now, plus POTUS says that Russia and Saudis will kiss and make up (or at least give a little peck on the cheek).

[aliassmith]

Of course, it should also be pointed out that up on the H4 chart, we would still have the option of hanging in there...

UJ H4

UJstillshowingonH4April2nd2020.png

This could then have been hedged as price broke back between the two clouds.

UJ H1

UJcouldhavebeenhedgedonH1April2nd2020.png

That way, as Alias says above, the boundaries of the trade are set by the H4 (or Daily in his case).

Based on your analysis and the h4 I got in late at 108.047 with a stop at 106.897. The daily has a lot of running room so let's see. So about .5% risk to start.

[/color]

Kl kl. As I write, price has pushed a little higher but nothing too spectacular at this time of day/night.

''S&P affirms United States’ AA+ credit rating, says outlook remains stable with the “expectation that unprecedented fiscal and monetary stimulus will limit the economic downturn.'' '' CNBC Now, plus POTUS says that Russia and Saudis will kiss and make up (or at least give a little peck on the cheek).

[LeMercenaire]

UJ still dragging its a** uphill.

UJ H4

Now above the 23.6

UJstilldraggingitselfuphill3rdApril2020.png (82.33 KiB) Viewed 1362 times

NFP today.