Libertarians take on trading

[Libertarian]

stepbystep.png

I think I finally get step 4.

[Libertarian]

Just updating my trades last week. This is the s**t that only I seem to do. Great entry, saw a BO the other direction, so I thought that meant I was wrong. Entered at the blue line, saw the second candle close against me strong, thought I was wrong so I closed for BE. Price leaves the station without yours truly, more than covered my crash zone target .

eurusd-h4-capital-city-markets.png (60.84 KiB) Viewed 3470 times

eurusd-m30-capital-city-markets.png (54.99 KiB) Viewed 3470 times

[Libertarian]

Managed my risk well on this trade, small loss. Entered at magenta line, closed on 15 min close above extreme.

gbpjpy-h4-capital-city-markets.png (62.95 KiB) Viewed 3470 times

gbpjpy-m15-capital-city-markets.png (44.62 KiB) Viewed 3470 times

[IgazI]

stepbystep.png

Thanks IgazI. I'm currently going through MO's posts of late. I wonder how your picture relates to this post from MO: https://www.kreslik.com/forums/therumpledone/the-ideas-that-i-trade-by-t3256/page4320#p110608

According to that post

Most of the time you should target 2 or 3 lines; 2.5 being 100% of the H1 average true range.

I'm not sure if it was your intention to show that ? Looking at your post, the HATR(32) (is that H1 ?) is 15 , so either it doesn't show the H1 ATR or the line distance acc. to MO's post should be 15 by 2.5 = 6 (2.5 lines = 1 hourly ATR). What's up with this ?

What was the original calc? I think it was something like 40% of the H1 ATR making 2.5 lines = 100%?

The M30 calc. was 0.55 x 2 x 2 x 2 ...etc for the next largest chart so
H1: 0.55
H4: 1.10
D1: 2.20
So if you use 2.25 * ATR then you are sized for daily charts and that is roughly where I want to be...
Just 'macro scalping' with H4+ candle color for around a day or two.

[Libertarian]

[Libertarian]

Mira, thank you sir.

"On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture"

Can you tell me what you mean by these 2 statements/points?

Looked weak to me
eurusd-w1-capital-city-markets.png
Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.
eurusd-h4-capital-city-markets.png
price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.
eurusd-m30-capital-city-markets.png

Hi Libertarian!

At what price you went short?
Btw looking at the weekly you shorted at the origin of the bullish breakout, the bearish one was higher.
On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture”.

Long <= 50%
Short >= 50%

If this can help.

[Mira]

Mira, thank you sir.

"On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture"

Can you tell me what you mean by these 2 statements/points?

Looked weak to me
eurusd-w1-capital-city-markets.png
Price had been zeroing all the shorts as it slowly moved lower so I thought it might be primed to trend a little bit. Thought I'd find resistance in this area.
eurusd-h4-capital-city-markets.png
price had a strong reaction in my area, I set the limit order to enter on the BI, price did some crazy crap, when the 30 min closed over my ZL I exited. Green box is my space.
eurusd-m30-capital-city-markets.png

Hi Libertarian!

At what price you went short?
Btw looking at the weekly you shorted at the origin of the bullish breakout, the bearish one was higher.
On the H4 price already closed back in the previous bottom with momentum.. the fibo tool (0%, 50%, 100%) is really helpful when looking at the “big picture”.

Long <= 50%
Short >= 50%

If this can help.

Use it ONLY if it works for you, if not then just pass over and you'll find YOUR PERSONAL way!
Usually i look for a price level around 25% or 75% & the 50% as a zone for the take profit.

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[IgazI]

How did I ever live without synced drawing?

Bearishness around the 40 SMA, Candle color, BO on the line chart, ...

withCOLOR.png (94.89 KiB) Viewed 3368 times

There was also a possible long trade with 12 hour color but the price bars leading up to that entry are not very encouraging.

possibleLONG.png (17.61 KiB) Viewed 3368 times

[IgazI]

Here we have prev. selling from a price level on the M30, a 'cup' (2 SMA peak for shorting), bearishness around the 40 SMA on the H4, & 12 hour candle color.

anotherTYPE.png (88.07 KiB) Viewed 3366 times

[Libertarian]

This was a terrible trade, but I made it so it gets posted. Scared money don't make money. Was trying to trade the horiz lines idea and not trying to be the extreme wick. Price looked like it was going up, but I still believe it has lower to go. So....just shouldn't have taken it, very small loss.

usdcad-m15-capital-city-markets.png (62.06 KiB) Viewed 3364 times

usdcad-h4-capital-city-markets.png (48.51 KiB) Viewed 3364 times