FxPowertade
I recorded some trades I took. Here is a link to one of them, you can look through them all though.
My trades today.... I did not have much time today, and the first trade was kind of forced so I got out early (which ended up being good). I also recorded that and it is on youtube. Even though it was the worst trade of the day. But I think it is only fair to post all the trades I record, and not just the good ones.
hello
My trades today.... I did not have much time today, and the first trade was kind of forced so I got out early (which ended up being good). I also recorded that and it is on youtube. Even though it was the worst trade of the day. But I think it is only fair to post all the trades I record, and not just the good ones.
u cant share your indicator? 
Momentum continuation
I just caught this one. It is not my normal trading time, but I missed most of my trading this morning.
As you can see on the 5 min we broke up above our 50 moving average, made a pullback, and I entered when the 156 wma (on my 8 range) showed support, and we broke past the tma's
I exited because it was slow, and I had my 6 pips.
I stopped posting my trades here, because I was told that this thread would be moved to evaluation if I did not provide all templates and indicators (which I can't do). So I guess this thread is done. Sorry
good insight and reminder into HOW TO TRADE
we always forgot about that -- and think in term of certainty and past pattern - - that is wrong
got the sand castle to show me the probability [ on the left ] -- any idea on how to trade on that ?
good insight and reminder into HOW TO TRADE
we always forgot about that -- and think in term of certainty and past pattern - - that is wrong
got the sand castle to show me the probability [ on the left ] -- any idea on how to trade on that ?Thanks.... very true... I watched a video from mark douglas He goes over that exact point.
as far as trading with your sand castle... I have no idea...LOL I have never seen that before. Looks cool though. Is all you need is an edge that you can trust (in the long run), so you will follow your system even when you are in a draw down.
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The theory
There are 3 ways I know of you can make money trading (I know there are more, but they do not relate to what I do):
1- Find a trend, wait for a pull back to enter with the trend
2- Find a trend and trade the breakout with the trend
3- Trade against the trend when the market is extremely over bought or over sold.
I personally trade two styles of #1, and one style of #3 (but more on that later).
Things your system must have:
1-You must find a very specific entry pattern/ signal where you have a very tight Stop loss, and there is no guessing on when to enter or when to exit.
2- You want to make sure your reward is higher than your risk.... you R:R is greater than 1
Things you must do
1- become the expert at your system.
2- trade your same setup over and over and over (you must be disciplined to do this).
3- know that your system gives you an edge, and trade the edge. You are the casino.
4- Follow a good money management system.
The charts
I look at three charts on two different platforms.
chart 1
chart1 is used for precise entry and exit. This chart ia an 8 range chart using a mbt fractional feed on Ninja trader. If you don't know what that means, it is a 0.8 pip range chart.
On the chart 1 have a price line, and two delayed price lines (just for look), two tma's(14, and 21) for entry, and a 156 wma. I also have 3 indicators to tell me trend, and oversold/overbought conditons
Chart 2
Chart 2 is a 5 min chart on Metatrader (I use a live interbankfx feed). I have the #spudfibo indicator, a pivot indicator, a 50 moving average, a 21 moving average and a 10 moving average.
Chart3
Chart3 is a 15 min chart on Metatrader with a 200,100,50,21,and 10 moving average.
Theory into practice
I take two setups trading a pullback with the trend, and one setup that is a counter trend. I call these setups:
1- 5 min continuation trade
2- momentum continuation trade
3- counter trend reversal trade
The entry
The entry for all trades are based off the 8 range (0.8 pip range) chart from Ninjatrader. And it is based on price breaking the two tma's and then pulling back a little, but not breaking the tma's. Also, the tma's should cross each other. (this will make more sense when you see the charts.
5 min continuation trade
For this trade I watch the 5 min chart and wait for a trend (price above or below the 50 ma, with the 50ma sloping that direction). Then I wait for a pullback to at least the 10 ma, and a price level. Once I have this, I wait for an entry on my 8 range chart. I also use the 15 min to confirm trend and give levels of support/resistance
momentum continuation trade
For this trade I wait for a strong move on the 5 min. Then I wait for a small pullback to around the 156 wma on my 8 range chart. Then wait for an entry signal on the 8 range chart.
counter trend reversal trade
For this trade I wait until the market is extremely over sold or over bought. I also like my 5 min chart to be at a s/r level. Then I wait for an entry signal on my 8 range.
The Stop Loss
my Stop Loss is the prev high/low +/- 1 pip. And is usually 2-4 pips. I do not take the trade if the SL is more than 5.
The Profit Exit
Since I want a R:R more than 1 I do not exit unless I am up at least 6 pips. Then I wait for a stall, or a break of my closest tma.