Thoughts on trading after 3 years

NVP

Legendary member
37,754 2,099
let me give you an example ...this morning around 8:15 the GBP index currency got really bullish in the london open session and became the alpha bull on the G8 ......it then proceeded to go up some 40 pips (eventually) on its own .....not as a pair .......you add the other currencies movement to this figure to see what the gbp pairs really did this morning

so that was the lead trade stategy for me this morning

BUY GBP in pairs ...........

thats 7 pairs to focus on instead of 28 ............a good start..then i start getting a little more involved on exact pair selection and timing .....but thats another story

N
 

NVP

Legendary member
37,754 2,099
hey dunno .....can you elaborate just a little more on the M5 signal strategy ....im looking to see where you decide the exact re-entry point .......

the trigger is of course the absolute key to all of this ...the rest is pretty straight forward in establishing a trend / bias for the trace direction

N
 

NVP

Legendary member
37,754 2,099
for example i just re-scalped Cable around the 2485 level...(as i said i am chasing gbp rebuys all morning) .....i know what i look for and will be interesting to see what your system is offering

N
 

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donno1580

Junior member
31 7
Ok, this is as far back as i can go on record, these represent intraday Tech Analysis an hour before the EU Open and two hours before the US open respectively , if the pivot is broken the scenario is invalidated and the alternative kicks in, so the pivot is the stop loss(my strategy is leaving a little space behind the Pivot for "overshoot", if the Pivot is far from the current price ie compromising risk reward i set a limit order and wait for a possible pullback to where i am prepared to "do business" . The second target is the take profit and if the trend progresses past the US opening, the TP advances to 2nd target again, Each trade incorporating strict money management

If there is no pullback i just straddle the pivot as it advances

PS: i have the records Feb5 to current, courtesy of Trading Central in my inbox.
 

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donno1580

Junior member
31 7
hey dunno .....can you elaborate just a little more on the M5 signal strategy ....im looking to see where you decide the exact re-entry point .......

the trigger is of course the absolute key to all of this ...the rest is pretty straight forward in establishing a trend / bias for the trace direction

N
Sorry N we are overtaking each other here, please shift to the Analysis post with the attached charts, thanks
 

NVP

Legendary member
37,754 2,099
Ok, this is as far back as i can go on record, these represent intraday Tech Analysis an hour before the EU Open and two hours before the US open respectively , if the pivot is broken the scenario is invalidated and the alternative kicks in, so the pivot is the stop loss(my strategy is leaving a little space behind the Pivot for "overshoot", if the Pivot is far from the current price ie compromising risk reward i set a limit order and wait for a possible pullback to where i am prepared to "do business" . The second target is the take profit and if the trend progresses past the US opening, the TP advances to 2nd target again, Each trade incorporating strict money management

If there is no pullback i just straddle the pivot as it advances

PS: i have the records Feb5 to current, courtesy of Trading Central in my inbox.


ok so you draw a line in the sand with trend and a pivot / price level that determines if the signal is invalid ..........then if the direction holds you enter with a stop behind the pivot ? ........and target wise ? .........ATR driven ?

N
 

NVP

Legendary member
37,754 2,099
i kind of do this as well based on actual currency index proce levels (not pairs).........i am looking for what currency indexes are doing in previous sessions ...........then trying to get into the extended trends into new sessions unfolding

if the Currency reverses then im screwed .....but thats trading ....

N
 

NVP

Legendary member
37,754 2,099
sounds a solid approach .....deveils in the detail of course and the execution and consistency will determine yuor profitability ...which you say is pretty ok ....

so fair play to you dude.....great work

N
 

donno1580

Junior member
31 7
Thanks N
i will post say ten days of levels, and u can see what i am all bouncy about, it is not me Buddy, rather Trading Central, i just added my rules as to entry really, and i do not know who of the Brokers punt Trading Central.

In order to have their info available, FXpro subscribes to Trading Central services and in return make the information available to their account holders.

They have been going forever and Big Gun's follow their lead on tried and tested analysis.(just behold how the levels are respected!!!)

Furthermore, there is a plugin indicator available to download and run on the chart real time and the levels adjust or roll when there is momentum, so an entry or rolling pivot can be tracked for entry.

The Historic info i have is mailed to me but only gives pre EU and US levels, in between {every hour or so} the chart levels are reviewed, and as i say updated real time.

i will post the history in the AM, gotta shoot out for a while
 

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donno1580

Junior member
31 7
Oh the screenshot is not in back tester as depicted it should look like this
 

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