ES tonight

[rathcoole_exile]

weds 10 june
946.75
943

936
932.25

 

[rathcoole_exile]

weds 10 june
946.75
943

936
932.25

43 to 36 in little over an hour
(though the first cars were closed at +1 & +2 within minutes) - very nice,

especially nice was the way it also coincided with the Crabel ORB trade
(a method I've mentioned briefly previously)

now I've already banked +1 & +2 on the ReversalLong from 937 (I was a bit slow to close the short and open a new long from 936),
but free trade now on 3rd contract,
(but equally happy to see price plummet thru 932 .....)

 

[leovirgo]

R_E
Nice ones! How do you manage a position if it triggers break out short and then whipsawed back to trigger reversal long, or vice versa? These buffer zones could be killing fields? thanks

 

[blancspa]

R_E
Nice ones! How do you manage a position if it triggers break out short and then whipsawed back to trigger reversal long, or vice versa? These buffer zones could be killing fields? thanks

I double that Q.
Also do you use anything with Crabel`s ORB, and do you enter on first breakout or do you wait for confirmation?
"khob-kun-Krub":cheesy:

 

[leovirgo]

Incase anyone was wondering how to hedge currency this is what i've decided to do... On my brokerage platform i've changed £10,000 into dollars, and done the equivalent opposing trade using leverage on a spreadbetting account with no stop loss.

x

It protects original investment value in GBP. But USD value will be lost if the rate is significantly lowered.

Say today's GBPUSD is 1.6.
Original capital value in GBP = 6250 ( 10000/1.6)
IF GBPUSD = 1.3,
capital face value = USD 10,000 (unchanged)
capital in GBP conversion value = 7692.3 ( Gains of £1442.3 unrealised)
loss on SB position = (0.3x6250)= -USD1875 (GBP 1442.3)

net amount in USD = 10,000 -1875 = USD8125. ( still equal to GBP6250 though).

If the GBPUSD is higher, then you'll be making trading profits but original investment is still £6250.

 

[rathcoole_exile]

i'm in germany again for 2 weeks so not trading while on the road. but i did notice this morning, looking back at yesterdays action, a couple of nice moves from 907 to 916 and back down again

 

[rathcoole_exile]

R_E
Nice ones! How do you manage a position if it triggers break out short and then whipsawed back to trigger reversal long, or vice versa? These buffer zones could be killing fields? thanks

i usually trade in multiples of 3 lots, and close first two lots early at, say, +1 and +2, then bring Stop to -2 or B/E, so even if whipsawed I get out at Even or small Profit or Loss.
that's what I mean in my signature about being prepared for only 1 winner in 10. Obviously I aim for more, but you have to be prepared for the times when you hit a patch of whipsaw and have to be patient for the next big profitable move ...

 

[rathcoole_exile]

Mon 29 June

920
916.75

911.25
908

 

[rathcoole_exile]

just missed a wonderful Long - I was waiting for price to hit 911 so i could enter at 911.25, but it didn't quite touch.
Of course, Sod's Law, price then took off like a scalded cat, immediately on up to the Weekly RS at 923.5

The one that got away Ah well, live to fight another day.

Triggers for Tuesday 30 June are:
930.5
925.75

916.75
912

 

[rathcoole_exile]

sell at 925.75

sometimes I weep at how complicated some people seem to make this.

are you watching nob_trader ?

 

[elitejets]

I'm watching, nice trade.

 

[rathcoole_exile]

ratings score of 4.2 from 5 voters ??

that means 4 of you have been kind enough to vote for 5 stars.

But I'd like to know whey kunt voted for a 1 ?????

Then I'd like to take him out and shoot him in his kneecaps........aah, the good old days

 

[rathcoole_exile]

thurs 2 july

927.5
923.25

915.25
911.0

 

[rathcoole_exile]

figures for Mon 13/7:

premarket:
876.75
875.5

873
871.75

market:
880.75
877.25

871.25
867.75

 

[rathcoole_exile]

weeklies for w/c 13/7
892.5
883.25
(879.25)
865.25
856.10

one of the reasons I don't enjoy trading on a Monday is because of the mini session on a Sunday.
I don't beleive Sunday's price movements are serious enough to change my set-ups which are based on friday's OHLC, but you can see that yesterday's crap action already took price down to 866, below the BreakDownShort trigger on the Daily set up for Monday.

But that small move has now brought price within a whisker of the Weekly Reversal Long at 865.25.

So my provisionary plan for today is:
if price dips below 865, I'll set up to go Long from 865.25 looking for a move back towards Weekly PP at 879.25,
ready to Short again from daily RS 877.25

 

[mEmmerrr]

RE, question for you.

(I am demoing pretty much this, using R1/S1 and the .5 R1 and .5 S1 as my kill zones, and am trading the NQ fwiw)

Few thoughts on the strategy:

- Is buying a break back up (from sell zone, vice versa for buy zone) really a high % play? From having a look selling the retest seems more legit than potentially selling the breakout of S1 to the downside. Thoughts on this alteration?

-Also, I cant decide on stop losses. Obviously keeping losses super small is key, but is 6 ticks TOO small iyo?
My trading account will not be massive when I go live, but I am more interested in the correct practice and most of me thinks covering after a 6 tick move against me is adequate, but I can see you operate much bigger than that and I wasnt sure why?
I would be looking potentially for profits of 10-12 ticks at a time.
Do you think that this is too scalpish for this strategy, and that I need to operating with bigger stop losses and bigger targets?

nice one

 

[rathcoole_exile]

Is buying a break back up (from sell zone, vice versa for buy zone) really a high % play? From having a look selling the retest seems more legit than potentially selling the breakout of S1 to the downside. Thoughts on this alteration?

well it worked well enough on Monday, RL just triggered by a hair, then went on rampage northwards, taking out BOL at 880.75 (add positions), blowing through to upper extremities of Weekly range, for more than 20 points profit

Personally, I expect to see a big reversal south again within next couple of days, especially if price creeps into the 904-913 range, with a break back down thru 904

High % probability ? I don't know, but as I suggest in my signature, if plays like yesterday's work out 1 in 10, with the others all netting off for more or less par, then I'd still be very happy


As for Stops, I have no idea, I never look at NQ. Let me take a look tonight and see if your suggestions make sense.
best, r_e

 

[rathcoole_exile]

Tues 14/7, Happy Bastille Day to all cheese-eating surrender monkeys
913.25
904.25

886.75
877.75

 

[rathcoole_exile]

with a break back down thru 904

oops, this is embarrassing,
how can one guy be so right so often ?

spooky.


(yes I am a big headed kunt, no apologies here for calling it right...)

 

[mEmmerrr]

To confirm, you are using 5 day traditional floor pivots? That is what I read from the first few pages, I am assuming this doesnt change half way through the thread.

Big up