The ideas that I trade by:

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IgazI
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Postby IgazI » Mon Apr 02, 2018 2:23 am

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thepark
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Re: The ideas that I trade by:

Postby thepark » Thu Apr 05, 2018 1:11 am

IgazI wrote:
dchappy wrote:
IgazI wrote:AUDUSDM30.png

Did you see the other clues ? 123 's ? ...divergence ? The market speaks to us in many ways .........good job :smt023


Thanks for stopping by DC! Love the simplicity of your thread!

I find that the line chart itself is a great tool that draws your attention to the obvious and prohibits reading too much into the candles:
without the line chart on the M30 I might have thought about a triple bottom support level but you can see how easily the line charts tossed that idea out of the window.

Think simply, act simply; what more is there to say?

most_important.png


if you set 2 x m30 atr as one line, is that also your SL and TP?

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IgazI
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Re: The ideas that I trade by:

Postby IgazI » Thu Apr 05, 2018 2:12 pm

thepark wrote:
if you set 2 x m30 atr as one line, is that also your SL and TP?


I am 'macro scalping', not trading the 'EIGHTS' multi TF strategy, so it is a bit different.

1. use at least a 2x ATR width with a 4 line box.
2. risk 1 line
3. make 1 or more lines
("more" comes from holding the weekly/monthly color)
4. stack
5. repeat

Trade away from the open of your large chart.

Wait for a new M30 open before putting thoughts into motion

Forget that it is a large chart: if this were a 1 minute chart and the lines were +1 pip then how would you trade it?
Large charts traded as if they were small is what 'macro scalping' is.
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thepark
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Re: The ideas that I trade by:

Postby thepark » Thu Apr 12, 2018 2:41 pm

Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?

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LeMercenaire
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Re: The ideas that I trade by:

Postby LeMercenaire » Thu Apr 12, 2018 3:13 pm

thepark wrote:Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?


You could probably ask yourself why your first idea is always different from your trading rules.

Also, after the trade kicks off, which one is proved right?

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Re: The ideas that I trade by:

Postby thepark » Thu Apr 12, 2018 3:21 pm

LeMercenaire wrote:
thepark wrote:Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?


You could probably ask yourself why your first idea is always different from your trading rules.

Also, after the trade kicks off, which one is proved right?


The thing is I never tried trading with my first idea because I've always had an elaborate set of rules to keep me out of trouble and I've never traded consistently.

Really the princples im trading with are buy or sell at the point of origin of buy or sell breakout, but when im trading with rules im usually entering later with a m15. its hard to say with what method i would do better with. What do you suggest LeMercenaire? I know MO didnt give a damn about confirmation, but im no MO.

sidenote: i pretty much look for H4 break out/breakin then a m30 40 sma cross to confirm the direction and continue trading with the H4 momos until an opposite H4 bo/bi. i will miss the trades where H4 just pops without a pb.

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Re: The ideas that I trade by:

Postby IgazI » Thu Apr 12, 2018 4:34 pm

thepark wrote:Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?


Your first idea is noble and brave, your second is ignoble and cowardice.

H12: summary information concerning the H4, closes are potential price levels, color is respected but if price moves to the prev. open then the color is based on the prev. open until the close of the current candle.

H4: rough history of the M30 chart & the smallest chart from which I get price levels (multiple closes, a close and a wick, or a wick and a close, but never just wicks)

M30: is nothing on its own but elaborates on the information obtained from larger charts (price levels/prev. selling, color/willingness to go lower and stay lower, etc). If the H4, or some multiple of M30, closes above an H4+ close then I might adjust the price level to the M30 close.

Trades are decided upon before the M30 open and placed, whether M/S/orL, as soon as there is a new candle.

And, of course, if price doesn't have a reasonable chance of crossing the AO shortly after entry then it is probably going to be a bouncy ride.


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Re: The ideas that I trade by:

Postby IgazI » Thu Apr 12, 2018 5:04 pm

Another way:

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Re: The ideas that I trade by:

Postby LeMercenaire » Thu Apr 12, 2018 6:35 pm

thepark wrote:
LeMercenaire wrote:
thepark wrote:Hi Igazl

I noticed your three Time frame set up. Would you be able to give a simple summary of what you are looking from each TF for a trade? And which TF candle color you trade with?

Very interesting that I noticed that dragon33 said "dont think too much, trade what you see" and recently you said "your first idea is the best". because my first idea is always different from my entry from my trading rules. should i just go with my gut?


You could probably ask yourself why your first idea is always different from your trading rules.

Also, after the trade kicks off, which one is proved right?


The thing is I never tried trading with my first idea because I've always had an elaborate set of rules to keep me out of trouble and I've never traded consistently.

Really the princples im trading with are buy or sell at the point of origin of buy or sell breakout, but when im trading with rules im usually entering later with a m15. its hard to say with what method i would do better with. What do you suggest LeMercenaire? I know MO didnt give a damn about confirmation, but im no MO.

sidenote: i pretty much look for H4 break out/breakin then a m30 40 sma cross to confirm the direction and continue trading with the H4 momos until an opposite H4 bo/bi. i will miss the trades where H4 just pops without a pb.


I wouldn't presume to tell you which method you should trade, only you can tell how comfortable you are with any given technique.

What I would say, is that to me, you are looking at things the wrong way round. You are finding your set up and then waiting for confirmation from your sma cross. Any kind of moving average cross is always going to lag, that's a given, so you're always going to be behind the curve unless you get some kind of test-retest kind of thing going on. As you noted, this doesn't always happen and you do indeed miss the boat.

You need to look at finding your directional bias before you find your set up. If the trade (a breakout for instance) breaks in the wrong way, then you simply let it go, only taking the moves that go with the bias you have already established.

If you like the H4 tf and a breakout / break-in (WZ) type trade, I would suggest looking at AU and a specific candle (the 04:00 - 08:00 UK time candle). This has been extensively researched by a colleague who knows his stuff, using frequency distribution stats and - to cut a long story short - if the break of the high or low fails to make the target (+5% or pips, your call), then the stats show that the reverse will go a good distance toward the daily range.

This reverse can be done using a counter trade, or if you are not able to use counter-trading due to country-restrictions, then a hard-stop and re-entry can be used just as effectively.

I use this method combined with WZ and it improves the results even more. That as well as S+D cw pivots and weekly open for my directional bias.

As noted, the target is seemingly modest, however we all know the power of compounding.

Anyway, so much for not suggesting a specific method.

My main point would be to strip it back and simplify your approach. As it stands now, you are showing a classic case of ''paralysis-through-analysis'', overthinking everything to death.

(If you can't easily trade that candle due to time-zone differences, then there are other options for you. If this kind of thing interests you, let me know and I can get you the details).

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Re: The ideas that I trade by:

Postby Leoheart » Thu Apr 12, 2018 11:08 pm

LeMercenaire wrote:
thepark wrote:
LeMercenaire wrote:
You could probably ask yourself why your first idea is always different from your trading rules.

Also, after the trade kicks off, which one is proved right?


The thing is I never tried trading with my first idea because I've always had an elaborate set of rules to keep me out of trouble and I've never traded consistently.

Really the princples im trading with are buy or sell at the point of origin of buy or sell breakout, but when im trading with rules im usually entering later with a m15. its hard to say with what method i would do better with. What do you suggest LeMercenaire? I know MO didnt give a damn about confirmation, but im no MO.

sidenote: i pretty much look for H4 break out/breakin then a m30 40 sma cross to confirm the direction and continue trading with the H4 momos until an opposite H4 bo/bi. i will miss the trades where H4 just pops without a pb.


I wouldn't presume to tell you which method you should trade, only you can tell how comfortable you are with any given technique.

What I would say, is that to me, you are looking at things the wrong way round. You are finding your set up and then waiting for confirmation from your sma cross. Any kind of moving average cross is always going to lag, that's a given, so you're always going to be behind the curve unless you get some kind of test-retest kind of thing going on. As you noted, this doesn't always happen and you do indeed miss the boat.

You need to look at finding your directional bias before you find your set up. If the trade (a breakout for instance) breaks in the wrong way, then you simply let it go, only taking the moves that go with the bias you have already established.

If you like the H4 tf and a breakout / break-in (WZ) type trade, I would suggest looking at AU and a specific candle (the 04:00 - 08:00 UK time candle). This has been extensively researched by a colleague who knows his stuff, using frequency distribution stats and - to cut a long story short - if the break of the high or low fails to make the target (+5% or pips, your call), then the stats show that the reverse will go a good distance toward the daily range.

This reverse can be done using a counter trade, or if you are not able to use counter-trading due to country-restrictions, then a hard-stop and re-entry can be used just as effectively.

I use this method combined with WZ and it improves the results even more. That as well as S+D cw pivots and weekly open for my directional bias.

As noted, the target is seemingly modest, however we all know the power of compounding.

Anyway, so much for not suggesting a specific method.

My main point would be to strip it back and simplify your approach. As it stands now, you are showing a classic case of ''paralysis-through-analysis'', overthinking everything to death.

(If you can't easily trade that candle due to time-zone differences, then there are other options for you. If this kind of thing interests you, let me know and I can get you the details).


Details please :) and examples. We see in pictures. Not sure what you mean about target +5% or pips. This number Changes at will? How do you run stats on variable value? Sorry I am confused.

Also not too clear on the counter trade idea. As country-restrictions was mentioned.Let’s say our broker permitted hedging, are we hedging our bets?
Last edited by Leoheart on Fri Apr 13, 2018 1:23 am, edited 1 time in total.
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