In fairness to IB's, this has not been the best of mornings to test them on FT. I'm holding my short on the basis that price is below a falling 24 bar average. Maybe, any fall will allow me to put a stop loss into profit by the time I go to work (1340). Otherwise, I'll hang on and close beforehand.
Another day, tomorrow!
Another day, tomorrow!
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tenbobtrader
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Split
good thoughts Split
it does give a nice clean entry trigger / stop placement
eod its just a small range in a lower tf
"but I need other factors that, I believe, indicate trend direction"
continuation of trend or not ?
Slow market prior to news ?
fast moving market for what reason ?
price at S or R area ?
volume analysis ?
ATR - price covered today ?
a re-post of the Hikkake set up pdf + bell curve picc'y
as per Splits thoughts ~ imvho you need more than the basic IB on any tf, don't make them the only reason for the trade
don't make them a sb firms best earner !
good luck with it foredog :clover:
later
Andy
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foredog
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Here's the image of todays trade.
Entered long at 15997 as price was above the 50ma and 6am open. 20 pip stoploss which was then moved up with the low of next bar.
Price did go to 16021 bid, if it had gone 27 bid stop would have been moved to break even.
4 trades taken so far, 1 winner, 2 losers and one breakeven.
Starting bal £100
Current £153
Entered long at 15997 as price was above the 50ma and 6am open. 20 pip stoploss which was then moved up with the low of next bar.
Price did go to 16021 bid, if it had gone 27 bid stop would have been moved to break even.
4 trades taken so far, 1 winner, 2 losers and one breakeven.
Starting bal £100
Current £153
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I'm using footsie, still, but am looking at TF15 today. There was a bullish tail at 0815, followed by an IB.
The horizontal lines that I have drawn in are 5047.6 and 5039.7 and I bought at 0828 5041.5 on the Daily Future equivalente of 30 points less. At present price 9 points above that and I feel more comfortable than yesterday
The horizontal lines that I have drawn in are 5047.6 and 5039.7 and I bought at 0828 5041.5 on the Daily Future equivalente of 30 points less. At present price 9 points above that and I feel more comfortable than yesterday
foredog
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Good stuff Split.
Not having the greatest day, with that stopout in cable and then my desktop pc has just packed up, probably due to a small flood last week in all that rain, added to that yesterday my dog chewed through my laptop power cable .......... it never rains but it pours!!!!
Going to need a few decent trades to pay for all that!!!
Not having the greatest day, with that stopout in cable and then my desktop pc has just packed up, probably due to a small flood last week in all that rain, added to that yesterday my dog chewed through my laptop power cable .......... it never rains but it pours!!!!
Going to need a few decent trades to pay for all that!!!
Did the dog get to the juicy bit before the fuses blew?
As for me, it's Ok at present . Reminds me of words from Kenny Roger's song
You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.
Ev'ry gambler knows that the secret to survivin'
Is knowin' what to throw away and knowing what to keep.
'Cause ev'ry hand's a winner and ev'ry hand's a loser,
And the best that you can hope for is to die in your sleep."
As for me, it's Ok at present . Reminds me of words from Kenny Roger's song
You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.
Ev'ry gambler knows that the secret to survivin'
Is knowin' what to throw away and knowing what to keep.
'Cause ev'ry hand's a winner and ev'ry hand's a loser,
And the best that you can hope for is to die in your sleep."
tenbobtrader
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Hi foredog
see attached
just a post to help newboys and girls think a bit more regards method etc take it further than a bare bones trigger
maybe find a sweet spot to trade them IB's & pins
Andy
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I'm still in.
Plan? On 30th there was a low of 5092. We are above that, now. So I am using that line as support and hoping that price will make more progress. I am a morning trader, so will have to decide whether to leave a stop on the trade and let it run when I go to work, or close. I use the Daily Future which does not roll over, but closes EOD.
foredog
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My current dilemma, Cable has posted another IB, the 6am open was 15975, the current ib high is 15971, so could take it as it will go though open if triggers.
but also could go short this IB as it will be below the open and the entry will be within 1pip of the 50ma so entry would put it below.
Take both one or none?
For my own trading account i'm inclined to miss it..............
tenbobtrader
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nice trade Split,
good thoughts
ftse hits its 10 day ATR give or take a few points
sure we will see a few IB's before 2:30 in the H1 M15 timeframes
hope you catch a nice ride with the trailer :clover:
funny day you selected ~ 30th sept for your reference low ? how come ?
looks like a few narrow range days printed a touch lower - your thoughts
Andy
Hi Foredog
That one doesn't look very pretty, today. I would not like to advise on that. The averages are very flat, too.
I've closed with 60 points. I'm sitting around, not doing much and past experience tells me that 60 points is a good morning's work on Footsie.
Probably regret it though.
So!
Yesterday, for me was poor, although I controlled the loss to 7-8 points. Today it's +60 using TF15 so I'll be back for more, tomorrow.
Good trading to you.
Split
That one doesn't look very pretty, today. I would not like to advise on that. The averages are very flat, too.
I've closed with 60 points. I'm sitting around, not doing much and past experience tells me that 60 points is a good morning's work on Footsie.
Probably regret it though.
So!
Yesterday, for me was poor, although I controlled the loss to 7-8 points. Today it's +60 using TF15 so I'll be back for more, tomorrow.
Good trading to you.
Split
tenbobtrader
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Hi Foredog
sure is an interesting spot its printed it at in the higher timeframes
here lies the problem with the trigger on the short H1 timeframe (shake fake whips)
IB at potential major support month / week / day
IB at potential continuation pattern day (bear flagg'y pattern)
= ??????????????????????????????
you have to go with what your method dictates - every trade or your run of results becomes worthless imvho
Andy
tenbobtrader
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That one doesn't look very pretty, today. I would not like to advise on that. The averages are very flat, too.
I've closed with 60 points. I'm sitting around, not doing much and past experience tells me that 60 points is a good morning's work on Footsie.
Probably regret it though.
So!
Yesterday, for me was poor, although I controlled the loss to 7-8 points. Today it's +60 using TF15 so I'll be back for more, tomorrow.
Good trading to you.
Split
Split
showing your years of discretionary experience there mate
not to bad at all considering
have a good one tomorrow
Andy
foredog
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Dead right Andy, got to take the trades, even said it myself on here, especially on a little account like this! Even after years of experience though human natures of greed and fear affect us sometimes.
Seems really stupid because i know using this method you will probably only get around 50% winners and yet I let two losses in a row put me off taking a trade, even though there has been periods of 5 in a row before.
NB...lots of other stuff going on today like pc's blowing up so probably not the best day anyway.
On to the next trade then, probably be a loser...
