Only Price and Time as Indicators

[LauraRomans]

Buy the lowest low, Sell the lowest high and get out withing a few minutes.

Of course price and time scalping works in a liquid market (emini S&P). And, the time of day matters with mornings and late afternoon as the strongest profit takers.

Does anyone else trade like this?

Do you have an indicator that would filter this type of trade?

What is your opinion of this style?

 

[PieterSteidelmayer]

Define lowest low and highest high.

 

[Forexmospherian]

Buy the lowest low, Sell the lowest high and get out withing a few minutes.

Of course price and time scalping works in a liquid market (emini S&P). And, the time of day matters with mornings and late afternoon as the strongest profit takers.

Does anyone else trade like this?

Do you have an indicator that would filter this type of trade?

What is your opinion of this style?

Yes - I trade similar in the FX market

I look for interim and daily highs and lows and then trade the other way until I have a profit before a rinse and a repeat.

I do use a few more clues other than just price and time and the main indicator to assist is Linear regressions all based on a tick or 1 min chart for absolute minimum lag effect.

I trade normally 3- 6 key FX pairs and take on average between 10 -20 trades every day

In fact I do things the commercial world say cannot be done and make consistent profits every day

It works in all conditions and I started to develop my own method approx 8 yrs ago after 3 years of only average results and have used it for over 6 years on a full time basis

Its impossible to just copy and will take thousands of live screen hrs and and loads of practice to get to a high skill level

Once you are there - its the next best thing to the "holy grail"

Regards

F

 

[PieterSteidelmayer]

Buy the lowest low, Sell the lowest high and get out withing a few minutes.

And ask anyone else who claims they trade of highs and lows how they define them too as unless you have a crystal ball, you don't know they're highs/lows until after they aren't anymore, by which time most of the short-term minor plays for a few ticks/pips are low probability punts as best.

The best way to ask someone who claims to trade this way is to ask them to show you in real time.

 

[LauraRomans]

Great feedback!

The high and low are defined by the highest high in 3 minutes or the lowest low in 3 minutes.

 

[Forexmospherian]

Join me any day next week LauraRomans - on the Intraday live trading thread and i will you show you it being done at least 5 times per day

Check out last week - and you will see the levels traded on the EU / GU /EJ / UChf / EA / AU

Time does play apart and you can use a stopwatch or clock along with interim horizontal and dynamic S & R'S and reading PA at the "coalface"

After taking now over 14k live trades - I average a win ratio of 61% to 85% on batches of 100 trades even with 5 pip stops

I am currently teaching a few members on the thread who are using my LR charts ( totally free and available from at least 5 or 6 good brokers on their platforms)

One member - Major Magnum had approx 2yrs of Harmonics / PF's etc and was not really getting anywhere with just average commercial type inconsistent results

Now after 4 months - he can read price at the coalface and has now gone live after over 500 scalps on demo

He has had days with over 75% win ratios - even on 20+ trades. He has also had the odd 3 and 4 losses in a row - but still by the end of the day turned the account into a profit

Since joining this forum in late October - there as been over 90 days of intraday trading - and only 9 days I have not hit my 50 pip daily target. Many days I exceed over 150 pips in a 8 hr session with the help of so called "free trade"

I have not had a losing day since the middle of last year.

I would like to go a year - or at least over 200 trading days with no loss - as in previous years I will have the odd blips - when I don't have enough time in the day to say turn 4 or 5 losses back into a profit - ie bad time management

I reckon it would take say an average intermediate level FX trader with at least 2 yrs existing experience another 6 -12 months to learn and achieve a good level of PA reading in the "noise"

Its takes lots of boring study - ( like watching paint dry and trees growing) - determination - focus discipline - concentration etc to get there and I reckon not every trader would have the time and patience to get there

Once you do achieve a good level and have a few thousand live trades behind you - then 30-50% per month is possible on accounts under 100K - as long as you don't try and compound quickly - as that is a different ballgame all together and what feels comfortable on say 3 or 6 lots - will be different on 50 + lots per per

I have been there and got the Tshirt and with my own personal experience - know what's possible

With regards to the additional spread cost paid to brokers etc - taking say 20 trades a day - thats another commercial spoiler trick to put retail traders off taking too much out the market on small capital

YES - you do want the best deals with spreads under 1pip and extra low commission deals on volumes and then its down your own performance

ie if i did take say 40 short term intraday trades in a day and cleared over 200 pips ( have done 409 pips on 24 trades last July 4th 2013 ) then even if i paid my broker $5k in costs - I would not bother -because then I would have made over $15k on the day

Costs are part of any business - yes try and keep them low if possible - but I would far sooner pay a broker say $30 k a month - and make $60 k net - then pay them only say $4k a month and make 7 times as much at $28k

In my world $60 net - is better than $28k - worth it for the extra work and outgoings

Any questions you are welcome - but even better - see it being done - LIVE - next week


Regards

F

 

[LauraRomans]

Thanks F,

Will plant to join you next week. What a great opportunity to see someone's thoughts and strategy. We are all so different. This is a HUGE learning curve for me. I traded in 1994/1995 before the computers came in, the intra-day market moved differently two decades ago. I tried many indicators and went back to price. See ya next week. Laura

 

[PieterSteidelmayer]

This is a HUGE learning curve for me.

Oh trust me Laura, it will be....

 

[PieterSteidelmayer]

The high and low are defined by the highest high in 3 minutes or the lowest low in 3 minutes.

What are you talking about? What timeframe are you trading? Ticks?

 

[PieterSteidelmayer]

What a great opportunity to see someone's thoughts and strategy.

Laura, one way to shorten your intended learning curve next week - be sure to ask for entry level, stop level and target level AHEAD of each trade. Be ready to turn your squelch level WAY up...

 

[LauraRomans]

Looking at 1 minute bars.

The system Autotrades. So the stop and limit are placed with the entry. For scalping, I'm not sure that it is good to put a stop to close to the entry. So my Stop los three times greater than my gain. I only use the limit / stop ten percent of the time the other 90 percent exits based on time of day. Comments?

 

[andrac]

"So my Stop los three times greater than my gain."
It's not really for me - but If that works for you - great.........
I'd be interested in the results after 100,then 1000 live trades - I'd expect to lose my shirt.

 

[tar]

One member - Major Magnum had approx 2yrs of Harmonics / PF's etc and was not really getting anywhere with just average commercial type inconsistent results

Now after 4 months - he can read price at the coalface and has now gone live after over 500 scalps on demo

He has had days with over 75% win ratios - even on 20+ trades. He has also had the odd 3 and 4 losses in a row - but still by the end of the day turned the account into a profit



F

Again with your friend Major Magnum ?! For some reason this guy keeps campaigning for his friend Major Magnum in most his posts .
Forexmospherian was caught playing games with his so called screenshots :

http://www.trade2win.com/boards/dis...ert-retail-forex-trader-1602.html#post2294282

 

[DionysusToast]

Price and time, no.

Price and Volume @ Price, yes.

 

[PieterSteidelmayer]

Looking at 1 minute bars.

The system Autotrades. So the stop and limit are placed with the entry. For scalping, I'm not sure that it is good to put a stop to close to the entry. So my Stop los three times greater than my gain. I only use the limit / stop ten percent of the time the other 90 percent exits based on time of day. Comments?

So you look at 1 minute bars and if you haven't had one with a lower low in the last 3 bars you buy; if you haven't had one with a higher high in the last 3 bars you sell. In either case you close your position when you've made one third of the amount you've risked?

But that's only 10% of the time for the exists. The other 90% of the time you exit based purely on time of day.

What times of day and why?

 

[PieterSteidelmayer]

Just in case anyone suspect me of laying a trap for Laura I'm not, I am genuinely interested in her trading methods. Trading hooks (which is effectively what she is doing) forms the basis of a number of viable entry and exit techniques, but typically within the context of a directional bias.

 

[PieterSteidelmayer]

What times of day and why?

Or is not so much absolute time of day but period of time after high/low? If the latter do 1/360 or 1/512 have any significance?

 

[LauraRomans]

Hi PeiterS.- no suspicion here. I'd rather learn from you than pay my own DUMB TAX!

Without the timed stop, the calculation and stats (based on back trading-after commissions) ratio changes to 75% winning trades - which is fantastic through the eyes of the beginner. Using the above example $50*75%/$150*25%=$37.5/$37.5 = $0 profit. At that point, I paid the broker and need to get a day job!!

Based on my post, it seems like I should be taking 0.9 of the trades at 1/3 profit. So, say I set the stop at 1 ESmini point ($50US). That means a profit of $50x.9/150x.1 = $450/$150 or 300%. Well, that is what I would have liked! I had my beginner goggles on. But, HAHA, lets all have a good laugh, part of my learning curve showed me that is not the case. The devil is in the details. I still don't know how often I will get good fills.

The market doesn't reach the limit/stop before the timed exit. The timed exit is what brings the total profit into the black. The timing exit gets me out so that I take 90% of the trades at some (small) profit. And 10% of the trades at at a loss(typically small, sometimes large).

The program only occupies 1 page of code even with half the lines used as documentation and variable declaration. This is my rule that keeps the program "simple". Granted,the program uses a homemade variable to determine the exit time - it is based on price alone. The program also examines the trend and only trades against the major trend. (Still testing the live trade to be sure I can get fills against the trend) The best times of day follow/include high volume. Typical trades are a few minutes long and happen about 10 times a day during the open outcry hours.

The idea is to fade a trend. We all know that trends end. What we don't know is when the trend will end. Also, we know that the end of the trend reverses the direction of price. Again, what we don't know is how far the price will reverse, or for how long. Surprisingly, this program doesn't work on the NQ - just the S&P. I've been studying the Big S&P for 20 years of intra-day activity. The S&P moves like this. When the CBOT changes the S&P to something other than open outcry this program may fall apart. A few missed fills could cause the whole idea to go south. That is why I'm asking if anyone else trades like this.

 

[LauraRomans]

Please explain the concept of 1/360 or 1/512. Thanks!

 

[LauraRomans]

Hi DionysusToast,

Would you be kind enough to comment on how volume play into the trend fade? I know that i get better fills with higher volume, but don't know how to connect volume with price. I'm not asking for you system, just a general idea. Thanks!