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SprayPlaster
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Re: How to Trade The Setup - Updated Daily (Trades & Concept

Unread post by SprayPlaster »

Dave wrote:GER30Cash - the other is a futures market.

Regarding box sizes, I've written this a few times but I'm happy to be disagreed with. It's not the size of the box in pips that's important, rather the size of the box relative to the boxes before it. This can just be visual. For example, if the market is dead and the average box size is 5 pips, then a 10 pip box is big relative to the size of the previous boxes and therefore big relative to trade potential. Conversely, if the average box size is 30 pips then a 20 pip box can be considered small.
So my advice, for what it's worth, is rather than set a numerical value, look at the chart and ask "will my stop loss be small relative to current price movement".

Where this is difficult of course is at 8:01 am UK when the markets open and volume comes in and the first few boxes are almost always bigger than those before them, before LO. But you'll get a feel for that.

:-bd
Thank you very much Dave, that's a very logical explanation. I guess I have to get accustomed to the behaviour/personality of Dax for the next few weeks first while sticking with EU. Currently reading through your journal, picking up some nice tips here and there :D
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Dave
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Re: How to Trade The Setup - Updated Daily (Trades & Concept

Unread post by Dave »

Careful mate, it drops right off! haha
I'm a time-poor trader ATM :)]
Now, I choose to make a profit in trading.
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

Analysis of Charts for The Week Ahead
[bbvideo=1280,720]https://vimeo.com/185237631[/bbvideo]
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

GU and UCAD Shorts
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

don't forget the EU analysis from the video above... it could breakout above the boxes anytime... or not... lets keep watching
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

damn the Australian Dollar had similar setup ... going into D1 highs but on a strong wave up on h1.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

UCAD

So here is how I turn my trades into Free Trades very quickly and then I have no risk so I can be FREE of anxiety and enjoy letting it run towards its targets.


copy paste from Skype window
so we know its touching H4 lows. can bounce there, so If I move to BE it might turn around and retest the box lows... and get me out, before dropping into Wave 5... so I'll take half off here, move SL at minus (the same pips I took for half off 15 here ) making it a FREE Trade and so its easy for me to leave the screen and pump some iron.
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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wiseambitions
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by wiseambitions »

it seems to be the GBPUSD that has done a lot of moving this morning. Not that I'm in it. They talk of "Hard Brexit". I have heard of eggs boiled hard or soft, is it the same thing? lol


Enjoying your analysis Immy .
I wish more people would come on here to share something on their journals

[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)

1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]

"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

EU is deleted... the thing with H1 Setups is that its still intraday trading... and with intraday your job is to find out WHICH one is moving...


I'll copy and paste my sermon/rant from this afternoon in skype


[12:41:34] Immy - AIMS: why the heck would you sell something If its not going down or buy something if its not going up??? it does not make sense
[12:42:04] Immy - AIMS: Rather I spotted MOVE on h1... and pullback... (peak and pull)
[12:42:19] Immy - AIMS: 3 consolidation bars... still INSIDE within the BIG bar...
[12:42:44] Immy - AIMS: if 13.00 was IB. and it damn should have... (only if market did what we want it to do) then i'd be short there...
[12:42:52] Immy - AIMS: so I FORCED my way in... :)
[12:43:07] Immy - AIMS: and turned it into NO LOSS trade...
[12:43:29] Immy - AIMS: What I did with all of you is what I did to me over the stages...
[12:44:27] Immy - AIMS: ISOLATE the Muscle... on some days... and on other days, do compound exercises... do low rep heavy weight some weeks and light weight higher rep on other ... increase strength and grow muscle respectively...
[12:44:59] Immy - AIMS: Trade IB's till it becomes part of your system. trade fruit until it becomes part of you, trade breakouts until It becomes part of you (not in this order though)
[12:45:41] Immy - AIMS: then you may as well stick to the isolated entry method... and incorporate a "Trade management" that you can LIVE WITH for a very long time... or combine the isolated entry methods and create an Amalgamation of it...
[12:46:02] Immy - AIMS: when that happens, (stage 3) you don't necessarily take a signal... you trade your BELIEF SYSTEM... in the end.
[12:46:58] Immy - AIMS: and USE the tools (that is your Setup patterns i.e. craeated by price action and highlighted by simple indicaotrs) and price bar confirmations ... i.e. Pin, cherr, Fruit, Seed, OB, bars... highlighted by our indicators/identifiers...
[12:47:21] Immy - AIMS: YOU CREATE THE SETUP... YOu TAKE THE TRADE... you are not compelled by anyone or any thing...
[12:47:36] Immy - AIMS: you don't feel like the SYSTEM REQUIRES you to trade... NO no no ... far from it...
[12:47:50] Immy - AIMS: THE SYSTEM becomes YOURS.... its part of you... YOU TAKE THE DECISIONS...
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: How to Trade The Setup [Immy's Old Journal - Discontinued]

Unread post by immy »

wiseambitions wrote:it seems to be the GBPUSD that has done a lot of moving this morning. Not that I'm in it. They talk of "Hard Brexit". I have heard of eggs boiled hard or soft, is it the same thing? lol


Enjoying your analysis Immy .
Oh, yes, just realised you had replied to my post (after my above post). if you read above you know that we had the same thoughts. Trade the one that moves... thats why on m1 we trade dax like you do. Becasue we know, most of hte time the damn thing moves... but today, YOU have to do something else as the german markets are shut... god knows why lol
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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