Best Thread Live Trading and General Chat Lounge

[TheBramble]

where are your pivots taken from.12pm,euro open? thanks for joining in

Daily Pivots calculated on NY 17:00 close.
Fibs calculated on O/C not H/L.
Frankfurt-London bounds calculated on min/max Frankfurt/London opening ranges +/- FibSD on prior daily range on those min max. So I get inner and outer bands for both upper and lower levels.
Also use a collection of fundamental constants (and reciprocals thereof) on most recent swing High/swing low: Bolztman, Euler, Avogadro, Planck, Golden Ratio to establish in-play S&R.
Also use weekly and Monthly pivots and of course, yesterday’s OHLC.
Use EMA 11 for twitching, 49 for confirmation and 194 for major reversal confirmation.
I also use the Williams Percent Range, but in quanta based approach rather than slope or specific current level.
On the exit side for technical aspects I use CCI and Dynamic index extreme breach and linear regression channel extremes – both with loss of momentum in both situations suggesting an exit. For purely discretionary exists as I’ve taken with all 3 trades taken today, can be lumped under educated guess/gut feel/breadth of market/relative strength and upcoming news analysis.

 

[Lord Flasheart]

Thanks. Thats a very technical set up. I used to have loads of indis and kept adding them to totally confuse myself. do you see the pivots as very important in forex even though we are 24 hr trading?

 

[justtrader]

Don't normally trade fridays afternoons
taking a small pnt on cable
sold at 16095 stop 16105

 

[TheBramble]

Thanks. Thats a very technical set up. I used to have loads of indis and kept adding them to totally confuse myself. do you see the pivots as very important in forex even though we are 24 hr trading?

I suppose it might seem very technical, but it's all spread over a number of screens so it isn't as cluttered as it probably sounds. Just 3 EMAs, the LRC and the pivots not even on the same chart for any given instrument. All the other inds are programmed on a need to know basis and I don’t see their inputs to decision making until they’ve got a context. The entry & exits ‘blobs’ are all off on a completely separate screen by themselves.

Like you, I also loaded up on the inds, then catapulted to the other extreme and went through the no inds DarkSider (LOL) phase. Eventually ended up with what I have today for short-term trading. I guess you could say these are the ones that made it through the 20 odd years of trying to find what fitted best.

You say 24hr trading and sure, you can, but does anybody? I sometimes pick up the end of the Asian session and sometimes into mid-afternoon US, but primarily, the action is all London session. Currently.

I don’t actually trade short-term that often these days (first time today in a few months) as my trading has morphed more into the longer term and away from technical assets into real world tangibles, but as I said, I have a day to play today and that’s what I’m doing.

 

[justtrader]

Don't normally trade fridays afternoons
taking a small pnt on cable
sold at 16095 stop 16105

Stop moved to 98
if it breaks the 97 level the next one is quite far away at 16117

 

[justtrader]

Stop moved to 98
if it breaks the 97 level the next one is quite far away at 16117

And in the time honoured way, we will now take half

Leaving the stop on the remaining half at 98

 

[Lord Flasheart]

I suppose it might seem very technical, but it's all spread over a number of screens so it isn't as cluttered as it probably sounds. Just 3 EMAs, the LRC and the pivots not even on the same chart for any given instrument. All the other inds are programmed on a need to know basis and I don’t see their inputs to decision making until they’ve got a context. The entry & exits ‘blobs’ are all off on a completely separate screen by themselves.

Like you, I also loaded up on the inds, then catapulted to the other extreme and went through the no inds DarkSider (LOL) phase. Eventually ended up with what I have today for short-term trading. I guess you could say these are the ones that made it through the 20 odd years of trying to find what fitted best.

You say 24hr trading and sure, you can, but does anybody? I sometimes pick up the end of the Asian session and sometimes into mid-afternoon US, but primarily, the action is all London session. Currently.

I don’t actually trade short-term that often these days (first time today in a few months) as my trading has morphed more into the longer term and away from technical assets into real world tangibles, but as I said, I have a day to play today and that’s what I’m doing.

Thanks.The 24 hr bit was referring to the calculation of the pivots. Im still in the darker size phase where I dont have any indis other than Trendlines and the odd fib. Yeah strange why all the action is in the London session,it really does die a death after. I remember the good old days when there was often a 150 pip reversal on friday at 7.30 ish. Those were the days eh,Internet cost £600 pcm and it was £25 a rt. Thats as far as I go back.

 

[wackypete2]

Thanks.The 24 hr bit was referring to the calculation of the pivots. Im still in the darker size phase where I dont have any indis other than Trendlines and the odd fib. Yeah strange why all the action is in the London session,it really does die a death after. I remember the good old days when there was often a 150 pip reversal on friday at 7.30 ish. Those were the days eh,Internet cost £600 pcm and it was £25 a rt. Thats as far as I go back.

{sigh} Thanks for the reminder. US session really does suck anymore
It's been worse than the Asian session.
The only reason I can see is all the new convoluted regulations put in place over the past 3 years. There are very few forex brokers in the US anymore.

Peter

 

[justtrader]

Thanks.The 24 hr bit was referring to the calculation of the pivots. Im still in the darker size phase where I dont have any indis other than Trendlines and the odd fib. Yeah strange why all the action is in the London session,it really does die a death after. I remember the good old days when there was often a 150 pip reversal on friday at 7.30 ish. Those were the days eh,Internet cost £600 pcm and it was £25 a rt. Thats as far as I go back.

I contradict you a bit there flash, Lately the london session has been quite sedate and gentle, the US session is where it really takes off, but thats a personal opinion.In the past I would only trade the London session and call it a day by 12 pm. for the past few months, I have been looking forward to the Us session as the european is generally dead.

 

[wackypete2]

I contradict you a bit there flash, Lately the london session has been quite sedate and gentle, the US session is where it really takes off, but thats a personal opinion.In the past I would only trade the London session and call it a day by 12 pm. for the past few months, I have been looking forward to the Us session as the european is generally dead.

LOL, looks like you have it reversed. From my experience over the past 18 months the ranges of eur and jpy crosses are smaller in the afternoon (actually from about 11:00am NY time) that they are in the asian session most days.

Of course if you are making money then that's all that counts. It's been a nightmare for me trying to trade during that time.

Peter

 

[justtrader]

LOL, looks like you have it reversed. From my experience over the past 18 months the ranges of eur and jpy crosses are smaller in the afternoon (actually from about 11:00am NY time) that they are in the asian session most days.

Of course if you are making money then that's all that counts. It's been a nightmare for me trying to trade during that time.

Peter

LOl!
Like I say Peter its a personal opinion, it just might be the times I am looking at it , one thing I know for certain is, its really hard for me to get more than 20 maybe 30 max points on a position before it reverses back, I find a lot of times I will get the 20/30 points on the first lot and the second lot reverses and knocks me out for b/e

 

[Lord Flasheart]

LOl!
Like I say Peter its a personal opinion, it just might be the times I am looking at it , one thing I know for certain is, its really hard for me to get more than 20 maybe 30 max points on a position before it reverses back, I find a lot of times I will get the 20/30 points on the first lot and the second lot reverses and knocks me out for b/e

lol myself and wacky are always right But it is probably downm to the way you trade and what you look for.in genetral we are talking about the overall daily ranges. Many many times there has been little movement from about 4pm right through until euro session the next day. and they say the us leads the way.It may be a prolonged affect of the euro crisies etc

 

[ZEN archer]

I've noticed as well some rubbish London sessions (small range random moves) and afterwards (NY etc.) some good moves - maybe slow but less choppy. IMO it's close to 50/50 (London vs NY/Tokyo). Before (year or two ago) I would only trade London sessions - not any more. Nowadays I pay more attention to how good is the signal rather than when it happens.

 

[D.Gilberto]

Hey guys, just wanted to let you know I am having this week off backtesting and going over my system.

Just want to patch a few holes I feel I am going wrong with. Definitely need to take a break and re-calibrate my human errors and mis-haps etc.

best of luck to the week ahead for everyone. I still might post a few trades but not trading live for this week

 

[justtrader]

Don't normally trade fridays afternoons
taking a small pnt on cable
sold at 16095 stop 16105

Moved TP to 16065 bagging 30 points on my second lot.

 

[justtrader]

Moved TP to 16065 bagging 30 points on my second lot.

There is Low probability support at 16021 area which seems to be holding, added a trailing stop at 10 points, so will be taken out at 16035. currently giving giving 60 points.

 

[justtrader]

There is Low probability support at 16021 area which seems to be holding, added a trailing stop at 10 points, so will be taken out at 16035. currently giving giving 60 points.

That low probability support seems to be holding for the moment got knocked out at 16031 for + 64 points

 

[Lord Flasheart]

Morning all,happy pipping this week.Ill try and post more this week.

 

[Lord Flasheart]

short gbp/jpt aty 126.30 sl 126.60

 

[justtrader]

Short eur/gbp 8071 stop 8080