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"AUSSI" my thread and anything I want to put here

  • #26,761
  • Sep 20, 2021 4:20pm Sep 20, 2021 4:20pm
Quoting Akram4899
{quote} {image} Cheers Jr have closed some of these
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  • #26,762
  • Sep 20, 2021 4:29pm Sep 20, 2021 4:29pm
Mr H,
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  • #26,763
  • Sep 20, 2021 4:45pm Sep 20, 2021 4:45pm
Quoting digger1
Mr H, {image}
Thank you jr
  • #26,764
  • Sep 20, 2021 6:33pm Sep 20, 2021 6:33pm
Quoting digger1
jr , Ms Munchie it kinda left ya hanging out to dry , for a week and a half one could get away with getting in and just waiting for a bit and getting out with some profit , it was kinda on the back side of a longer pattern too , then no counter punch from the pattern that I yakked about all week end , in some detail due to a translation barrier , Mr Aussi took care of that problem , better than my english teacher could , Mr Aussi is a good english teacher those areas circled are where the 8 hour candles close and open , one usually...
Jr Did you trade LtcUsd during week day too?I leaved it from last weekend until now , dont want to get out .What can i do ? May be become investor then , just kidding but just leave there ,keep gold short .Man i always go again the trend .Only me to trade like this .
  • #26,765
  • Sep 20, 2021 6:45pm Sep 20, 2021 6:45pm
Quoting munchie
{quote} Jr Did you trade LtcUsd during week day too?I leaved it from last weekend until now , dont want to get out .What can i do ? May be become investor then , just kidding but just leave there ,keep gold short .Man i always go again the trend .Only me to trade like this .
jr , only because you were ha , easier to keep in the flow if checking it here and there , we will get that turned around some how some way Ms Munchie , I will get a shekel or shilling no matter what it is , so I dont worry much about it
  • #26,766
  • Sep 20, 2021 7:49pm Sep 20, 2021 7:49pm
jr , will see if it can generate anything this go around off of that weekly S1 level , a couple runners left Ms Munchie , they do what they , this is week end stuff , many week ends not quite this good tho , one of those hay maker go rounds or go downs .
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  • #26,767
  • Sep 20, 2021 8:06pm Sep 20, 2021 8:06pm
Quoting MrJoker
{quote} Thank you Peter. I understand (or think so) what you are saying ... but when I use a larger SL with a small target, such as 10p, when I make a mistake I lose a large part of the profits ... but looking at my results, I was definitely better doing it this way as you wrote than using fixed SL. If I was almost always right then it wouldn't be a problem ... I have to increase the precision, it's probably the only way. Lots of practice ahead of me.


It depends on a few things.

1 = what's your definition of precision? These days I see many who try to convey this as the answer to an age old query - how and where do I enter? Perfect entry results only in self satisfaction as the market cannot give perfection because the moment you send your order to market it is out of your hands at which price it's filled. So if it was me, I would ask this - HOW am I tracking this market? Is it by anticipating or am I going to pounce on it when I see eg. momentum rev up and things start moving very fast? The same applies to people's use of "Fibs tools" and pivots and everything else. Each are just a tool for projection until you apply at least one layer of probability to them. Since you and I probably aren't using the same broker and/or account type, you need to find where that approach's order fills at a healthy entry each time. If you're using a market order, you're pouncing, if you use a limit entry you're anticipating, but if you hybridize them, you get both in one. Each broker gives a stop level and this tells you firstly, if you can trade inside the spread AND if not, how far outside you can expect to begin to be filled. Understand?

2 = If someone doesn't use a physical stop loss then there MUST be an alternative/contingency. If the trader is smart, they'll have a permanent backup power supply and internet option to activate in the event of their normal supply going dead. This is what I do as I don't want to see my hard work get flushed down the toilet. Otherwise hedge or use a mental stop with a "stealth" stop loss or whatever the kids are playing with these days.

3 = Keep detailed notes on all your trade setups. Call a trade setup a TRADE SETUP and not what I see others doing a lot = calling a trade order a trade. This lingo is based on the thinking of running EA style application of trading but it makes a trader "awkward" if you're trying to use this way alongside manual trading. Sure if you use 1 ticket for a single entry and exit. But this is not always the case and it can get confusing throughout your notes if there is no separation and clarification. Although many will poo-poo all this, I'm speaking from many years of experience and trial and error. And for many it's just unnecessary for them to waste time meandering on certain key aspects.

4= Plot the body and trade the wick/spike/blowback. This is usually where people want to argue over liquidity and everything else. You won't know what your broker will/can offer for your trades until you have your live account open and you go fishing for entry using your approach. If the broker is offering real liquidity then one TF's liquidity is another's entry or exit. This is partly how it all works and again, demo is good for some things but real market variations show you the rest.

That's it from me.

I hope that helps somewhat.


Peter
Real Trading is not gambling.
  • #26,768
  • Sep 20, 2021 9:33pm Sep 20, 2021 9:33pm
i just love a gap money to be made
people leave, but this thread will go on for ever
  • #26,769
  • Sep 20, 2021 10:10pm Sep 20, 2021 10:10pm
jr Mr A , the aussi s decided to make you wait for a bit gold developed a dribbling problem , dont get carried away with the ole gatlin gun till its time
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  • #26,770
  • Sep 20, 2021 10:20pm Sep 20, 2021 10:20pm
jr , Mr H a bit of a creeper in the other feller keep them dukes up
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  • #26,771
  • Sep 20, 2021 10:24pm Sep 20, 2021 10:24pm
jr , Ms Munchie , its trying hard , steady as goes , have a good one all , nite
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  • #26,772
  • Sep 20, 2021 10:36pm Sep 20, 2021 10:36pm
jr , havent looked at silver lately , random afternoon friday thoughts with an itch to be in a trade just to be in a trade , ooyy , hope for that fellers sake he took the brief chance given to rectify the thought , any rate , lots of pips points but mostly shekels to all , will check at chore time and see what happened ,
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  • #26,773
  • Sep 20, 2021 11:41pm Sep 20, 2021 11:41pm
Quoting digger1
jr Mr A , the aussi s decided to make you wait for a bit gold developed a dribbling problem , dont get carried away with the ole gatlin gun till its time {image}
Hi Diggz Jr

I have been watching on the sidelines and amazing accuracy.

So for that Gold short entry tonight, I realize we are in Asian session so usually but not always a quieter session, plus previous days high/top of box is just above.

Im trying to figure out why one would have the surety to enter short on gold after it has been up and down to this 1765/66 level multiple times. I am always very concerned it is going to break through after poking at this area a few times and shoot up on a spike.

Your insights would be greatly appreciated.
  • #26,774
  • Sep 20, 2021 11:49pm Sep 20, 2021 11:49pm
Quoting Nik
{quote} Hi Diggz Jr I have been watching on the sidelines and amazing accuracy. So for that Gold short entry tonight, I realize we are in Asian session so usually but not always a quieter session, plus previous days high/top of box is just above. Im trying to figure out why one would have the surety to enter short on gold after it has been up and down to this 1765/66 level multiple times. I am always very concerned it is going to break through after poking at this area a few times and shoot up on a spike. Your insights would be greatly appreciated....
Also I see that short was from yesterdays R1 area. Do you usually always look at yesterdays standard pivots to add confluence? Cheers

Oh and hi to Aussi and Diggz Sr too as well as the rest of the crew on this thread! its been a while but glad to see so many of you are excelling in your trading bravo!
  • #26,775
  • Edited 2:46am Sep 21, 2021 2:29am | Edited 2:46am
Daily target already made. I try to trade very carefully, therefore many positions closed at BE +1. Also, I reduced the number of open positions for safety.
PS : It was a good place for a long, I regret a bit that I closed the positions so quickly but I wanted to hit the daily target. I should keep them for at least 10p.
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Fear is the mind-killer.
  • #26,776
  • Sep 21, 2021 3:17am Sep 21, 2021 3:17am
Quoting MrJoker
Daily target already made. I try to trade very carefully, therefore many positions closed at BE +1. Also, I reduced the number of open positions for safety. PS : It was a good place for a long, I regret a bit that I closed the positions so quickly but I wanted to hit the daily target. I should keep them for at least 10p. {image} {image}


Gold now @ 15mins TF .... Congestion areas ...


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Peter
Real Trading is not gambling.
  • #26,777
  • Sep 21, 2021 3:20am Sep 21, 2021 3:20am
A very useful exercise to perform ..... to go back at least 6mths on your chart and TF of choice and practice highlighting congestion areas only. A good skill to grasp so your eye can quickly identify weighted areas.


Peter
Real Trading is not gambling.
  • #26,778
  • Sep 21, 2021 3:40am Sep 21, 2021 3:40am
@ MrJoker .... you could also consider a time-price decay function for your proposed SL area etc. And use an amplifier to boot.

Eg =

30SL proposed with 10P target.
Time = per TF interval or specific time count (seconds/minutes/hours etc)
Price = tick chart or standard price chart (or whatever you fancy)
Amplifier = 1, 1.5. 2 etc per (X) meaning whatever you choose eg time or price.

Once you start to see how the market likes to move, you can see whether your BE attempts are worth the +1. Especially with the weighted areas noted. Now put it altogether and you have a hard stop if you lose contact for extended time from market, you can advance your protection but at a pace that suits the conditions and you can do it manually. Now you control everything but "what the market actually ends up doing on the day". Breakevens are not really my cup of tea as I've had brokers interfere with latency etc, so I took back control long ago.

Here's a good Breakeven pointer ...

((Spread x2) x 2) + half of weighted area (AKA radius of congestion area that is the target). And there's your BE gap. Why? The industry is based on pumping out info that correlates to "go with the flow" but they don't tell you why. The why is because movement is based on intentions and throw in $$$ and now you need to think for yourself. So if you calculate that your BE gap needs to be eg 4-8Pips then you know why. It's now not just a random figure chosen to comply with the idea of attempting a BE slide.

I hope that helps.


Peter
Real Trading is not gambling.
  • #26,779
  • Sep 21, 2021 4:29am Sep 21, 2021 4:29am
Quoting PeterCaleb
@ MrJoker .... you could also consider a time-price decay function for your proposed SL area etc. And use an amplifier to boot. Eg = 30SL proposed with 10P target. Time = per TF interval or specific time count (seconds/minutes/hours etc) Price = tick chart or standard price chart (or whatever you fancy) Amplifier = 1, 1.5. 2 etc per (X) meaning whatever you choose eg time or price. Once you start to see how the market likes to move, you can see whether your BE attempts are worth the +1. Especially with the weighted areas noted. Now put it altogether...
Thank you for your advice Peter, I will try to adapt it to my trading.
Fear is the mind-killer.
  • #26,780
  • Sep 21, 2021 5:43am Sep 21, 2021 5:43am
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Quoting digger1
jr Mr A , the aussi s decided to make you wait for a bit gold developed a dribbling problem , dont get carried away with the ole gatlin gun till its time {image}

Morning all Hey Jr normally when i wake up i always miss some trades or (set ups ) reason =because FEAR of not being in front of screen to exit manually if your wrong .Decided to make few set ups, buy area's reason= daily pivot area 200ma looked to left
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