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Attachments: 4 + 1 (Metals) strategy
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4 + 1 (Metals) strategy

  • #61
  • Jul 2, 2019 9:02am Jul 2, 2019 9:02am
H1 status update,

So far selling the highs which correlate with the identified handle has proven to be profitable, all be it limited, dips are failing to break that support, as such we can wash rinse and repeat everytime price gets to our sell zone and look to trail and take profits up until price moves in our favour or we get stopped out....trade safe....
4&1 All Time Profit: $37,496
  • #62
  • Jul 2, 2019 9:14am Jul 2, 2019 9:14am
Quoting MzansiObi
{quote} BE, so that would be price where you entered and less the brokers spread. So for instance if your broker has a spread of 1 and you sold at 10 placing your stop loss at 9 would mean you have covered your costs for being in that trade.if you place your stop at 10 then you still going to pay for the spread when price takes you out....
Thanks.
If in doubt, paddle out!
  • #63
  • Jul 2, 2019 9:16am Jul 2, 2019 9:16am
Quoting SurfsUp
{quote} I did, but closed it out with small gain. I saw your note about stay out when flat. Seems flat for last while. Looks like we might have a buy opportunity shortly. I am watching chart to determine when to enter.
Oh alright bud. Not a bad idea to stay out too.
However if the market does what it has been doing, another alternative is to open a smaller position so given the demo account that we using this strategy for due to the balance, I will look to open a 0.02 lot sizes position still in our sell or buy zone,
Consider what the market did today so then when price moves from that 1393 handle and dips back towards 1390,the idea is to close 0.01 of the position and move the SL to break even, this then allows us to ride the dip if price keeps dropping and if price comes back out to our sell area and hits our stop loss we can always enter again in that sell zone.

But Doig this requires you to spend time infront of the PC or atleast monitor the trade......

If you look at the support area we are struggling to break on the hourly chart,

Use these settings and pull up your daily chart,

You will see price is actually struggling to go lower cause we are at the daily chart buy area so we will wait and see who takes this battle, for now we keep entering and trailing
4&1 All Time Profit: $37,496
  • #64
  • Jul 2, 2019 10:23am Jul 2, 2019 10:23am
Quoting MzansiObi
H1 systems update. Sell signal given (1388 and 1392) Short at 1389 SL a couple of pips above previous swing hugh. H4 systems update. Sell area is around 1397 and 1400.64 So when on hourly chart let's be aware any spike up may look to head into our 4h sell area, Trade safe. AUD Interest rate decision shortly so monitor and manage position size accordingly.
Alright, so price has spiked up to our 4 hour sell zone, some volatility after selling from the hourly sell area for some sheckles.

Now we patiently assess what PA does here, will we have a close above that 1394 area or not......
4&1 All Time Profit: $37,496
  • #65
  • Jul 2, 2019 10:52am Jul 2, 2019 10:52am
Quoting SurfsUp
{quote} MzansiObi, what is BE?
Break-even
If you have faith in our leaders of commerce, don't buy gold.
  • #66
  • Jul 2, 2019 2:23pm Jul 2, 2019 2:23pm
Well, Day 1 of using this system nets a daily return of 18.8%. Had one large trade on the big run up, but then did a bunch of smaller trades as MzansiObi suggested. I think I am going to call it quits for a while. A little more practice still needed, but getting the hang of it.
If in doubt, paddle out!
  • #67
  • Jul 2, 2019 2:28pm Jul 2, 2019 2:28pm
Quoting SurfsUp
Well, Day 1 of using this system nets a daily return of 18.8%. Had one large trade on the big run up, but then did a bunch of smaller trades as MzansiObi suggested. I think I am going to call it quits for a while. A little more practice still needed, but getting the hang of it.
Nice work I avoided the spike on my main acct but it put a dent in my demo, let's see if I can claw it back!
  • #68
  • Jul 2, 2019 3:02pm Jul 2, 2019 3:02pm
Quoting Metallurgy
{quote} Nice work I avoided the spike on my main acct but it put a dent in my demo, let's see if I can claw it back!
Yeah same here.
Had some pending orders that I had placed and forgot to remove spike up caught them. I got them on the main account too but that's fine as I'm looking a little log term.


The most NB thing with this strategy is taking partial profits and trailing. The moment you get that right we can minimise or exposure and risk.
4&1 All Time Profit: $37,496
  • #69
  • Jul 2, 2019 3:04pm Jul 2, 2019 3:04pm
Quoting SurfsUp
Well, Day 1 of using this system nets a daily return of 18.8%. Had one large trade on the big run up, but then did a bunch of smaller trades as MzansiObi suggested. I think I am going to call it quits for a while. A little more practice still needed, but getting the hang of it.
Alright bros.

Yeah practice and get comfortable with it on the demo.


Just something worth noting, that rejection off of the daily buy area was just too powerful. Price battled all day breaking below......
4&1 All Time Profit: $37,496
  • #70
  • Jul 2, 2019 3:07pm Jul 2, 2019 3:07pm
Quoting MzansiObi
{quote} Yeah same here. Had some pending orders that I had placed and forgot to remove spike up caught them. I got them on the main account too but that's fine as I'm looking a little log term. The most NB thing with this strategy is taking partial profits and trailing. The moment you get that right we can minimise or exposure and risk.
Good advice! When the trailing stop kicks in I feel a nice weight lift off my shoulders.
  • #71
  • Jul 2, 2019 3:41pm Jul 2, 2019 3:41pm
Caught the next spike, got my losses back and some pocket change too
  • #72
  • Jul 3, 2019 12:54am Jul 3, 2019 12:54am
https://www.metalsmine.com/showthrea...7#post12362917
4&1 All Time Profit: $37,496
  • #73
  • Jul 3, 2019 12:55am Jul 3, 2019 12:55am
Quoting Metallurgy
Caught the next spike, got my losses back and some pocket change too
That's good bud.
I'm just thinking when we are flat as we were yesterday, one should get rid of pending orders hey.....thoughts?
4&1 All Time Profit: $37,496
  • #74
  • Jul 3, 2019 1:38am Jul 3, 2019 1:38am
Quoting MzansiObi
https://www.metalsmine.com/showthrea...7#post12362917
Solid work. So far from what I've seen since today's open, I'd agree with your assessment and approach to the markets. If I stay up to trade I'm going to be very cautious. We often have similar takes on the market.

Quoting MzansiObi
{quote} That's good bud. I'm just thinking when we are flat as we were yesterday, one should get rid of pending orders hey.....thoughts?
I agree here. Technically you are flat, but with pending orders still out there I wouldn't feel comfortable. I certainly wouldn't consider myself flat. I'd imagine I'd be waiting for my orders to be filled.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #75
  • Jul 3, 2019 2:06am Jul 3, 2019 2:06am
Quoting EventsTrader
{quote} Solid work. So far from what I've seen since today's open, I'd agree with your assessment and approach to the markets. If I stay up to trade I'm going to be very cautious. We often have similar takes on the market. {quote} I agree here. Technically you are flat, but with pending orders still out there I wouldn't feel comfortable. I certainly wouldn't consider myself flat. I'd imagine I'd be waiting for my orders to be filled.
Hey bud, the reason am saying we were flat is because that period of indecision the hourly and 4hourly were struggling to kick on and validate the sell signal.

So intra day wise I shouldve removed the pending orders as the spike up took them and closed out for a loss on those...I took a long on the daily buy zone but I didn't imagine we would rally this far. If anything I thought we would hit the H4 stops and maybe turn or consolidate......


You have been killing it I see.
4&1 All Time Profit: $37,496
  • #76
  • Jul 3, 2019 9:41am Jul 3, 2019 9:41am
So price had bounced off of the 1 hourly buy area of the 1414.68.

Wouldn't be Abad idea to close some and trailthe rest.
Proper risk management is key
Bounced off of this handle can be bought so long as no candles on hourly breaks and closes below the handle.


Trade safe
4&1 All Time Profit: $37,496
  • #77
  • Jul 3, 2019 9:42am Jul 3, 2019 9:42am
Quoting Metallurgy
Caught the next spike, got my losses back and some pocket change too
Did you get in on any positions so far?
4&1 All Time Profit: $37,496
  • #78
  • Jul 3, 2019 9:54am Jul 3, 2019 9:54am
Quoting MzansiObi
{quote} Did you get in on any positions so far?
I did a bit of scalping when the market opened yesterday and it spiked again, risky business but I got lucky. Don't think I'll do it again though, too stressful!

Overall I did better than I expected yesterday, so I'm taking a break today otherwise my emotions will take over.
  • #79
  • Jul 3, 2019 10:37am Jul 3, 2019 10:37am
Quoting Metallurgy
{quote} I did a bit of scalping when the market opened yesterday and it spiked again, risky business but I got lucky. Don't think I'll do it again though, too stressful! Overall I did better than I expected yesterday, so I'm taking a break today otherwise my emotions will take over.
That's so true. I lost so much
All my savings through emorions
  • #80
  • Jul 3, 2019 11:15am Jul 3, 2019 11:15am
Quoting Charm7
{quote} That's so true. I lost so much All my savings through emorions
Yeah emotions have no place in this business hey....
But you will know you're overlevereged when emotions take over. I reduce my lot size when emotions take over....
4&1 All Time Profit: $37,496
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