Overall euro in downtrend, ma's perfectly aligned, 25-35 pip retraces with cross of 8 lwma. 5 min lower highs entry candles all with little/no lower wick.
Saturday, January 21, 2012
Picture perfect
Not in front of computer for these pity.
Overall euro in downtrend, ma's perfectly aligned, 25-35 pip retraces with cross of 8 lwma. 5 min lower highs entry candles all with little/no lower wick.
Overall euro in downtrend, ma's perfectly aligned, 25-35 pip retraces with cross of 8 lwma. 5 min lower highs entry candles all with little/no lower wick.
5 min moving averages
We tried to get an easy visual for Mrs V to verify most trades. To all intents and purposes she is a newbie trader. She has traded on her own for a few weeks only.
The easy visuals we came up with were based on rsi above/below 50 for trend on higher time frames. Then she looks for good angle on 5 min ma's. Using 8 lwma, 21 ema, 96 lwma. The latter is to approx the 1hr 8 lwma. That ma is standard on all charts.
For example if rsi below 50 on daily but had nice reversal candle she would consider buys (as trend could reverse) or sells (selling into rally in downtrend). Other than that focus would be on selling where D rsi below 50.
If the ma's on 5 min are not angled and aligned correctly then she has to see a good 1hr set up candle to resume D trend. So she would be prepared to trade against the 5 min ma's but 1hr must have shown itself to give strong indication of resumption of trend.
I hope recent posts are clear on this.
The easy visuals we came up with were based on rsi above/below 50 for trend on higher time frames. Then she looks for good angle on 5 min ma's. Using 8 lwma, 21 ema, 96 lwma. The latter is to approx the 1hr 8 lwma. That ma is standard on all charts.
For example if rsi below 50 on daily but had nice reversal candle she would consider buys (as trend could reverse) or sells (selling into rally in downtrend). Other than that focus would be on selling where D rsi below 50.
If the ma's on 5 min are not angled and aligned correctly then she has to see a good 1hr set up candle to resume D trend. So she would be prepared to trade against the 5 min ma's but 1hr must have shown itself to give strong indication of resumption of trend.
I hope recent posts are clear on this.
Cross of 8lwma in trend
Of course you cannot trade every cross of 8lwma you'll get chopped to death. In trend however its a reasonable trade in itself.
Combined with some other basics (eur and gu) 25-35 pip retraces between psych levels (00, 25, 50, 75) and pivots to resume the trend are decent risk trades.
I'd also be careful going counter trend in and around the London and US opens. For US open see below for weak counter trend moves.
Combined with some other basics (eur and gu) 25-35 pip retraces between psych levels (00, 25, 50, 75) and pivots to resume the trend are decent risk trades.
I'd also be careful going counter trend in and around the London and US opens. For US open see below for weak counter trend moves.
Weak US pre/early session
The post below refers to weak pre US moves.
We are very careful to trade against the overall trend and the trend of the day from weak pre/early US session moves. Small 1hr hesitation candles that feature on 5 min as small higher lows (in this case). They often fail and either have a 2b entry or lower high (in the case below in down move) to resume trend of day.
We are very careful to trade against the overall trend and the trend of the day from weak pre/early US session moves. Small 1hr hesitation candles that feature on 5 min as small higher lows (in this case). They often fail and either have a 2b entry or lower high (in the case below in down move) to resume trend of day.
Different day same story.
Mrs V wasn't in front of computer for big move down. 1hr doji in London session, some perfect lower highs followed.
She ignored the weak early US session counter trend higher low as per our rules and got the nice 2b re-entry back into trend. Out for just short of +20 when it didn't follow through.
She unfortunately couldn't stay in front of computer for the later follow through sells.
Mrs V wasn't in front of computer for big move down, shoulder again.
She ignored the weak early US session counter trend higher low as per our rules and got the nice 2b re-entry back into trend. Out for just short of +20 when it didn't follow through.
She unfortunately couldn't stay in front of computer for the later follow through sells.
Mrs V wasn't in front of computer for big move down, shoulder again.
Some recent trades
Some of Mrs V's recent trades. Shoulder better but still far from 100%.
Her first trade of year. She missed the earlier lower high moves which are pretty clear.
Entry and after pic's shown. She exited at 50 level for +20.
Anyway the ema's are clear. 1hr had a large hammer at Y's high. Massive divergence at the double top. Just a great set up and pic perfect 5 min lower highs.
She couldn't trade longer for the follow ups, at that time shoulder was quite bad.
Her first trade of year. She missed the earlier lower high moves which are pretty clear.
Entry and after pic's shown. She exited at 50 level for +20.
Anyway the ema's are clear. 1hr had a large hammer at Y's high. Massive divergence at the double top. Just a great set up and pic perfect 5 min lower highs.
She couldn't trade longer for the follow ups, at that time shoulder was quite bad.
Saturday, November 19, 2011
Time to re-consider?
I have to seriously think about my forex future. I personally do not know of reliable trade managers, maybe they are out there I just haven't come across them, maybe I have never really looked. I am now heavily involved in the family business and do not have the time for trading. We hoped that Mrs V would be able to trade on her own but she has had some health issues and done 5 trades this month.
When I get home usually after an 11 hour day its to help with dinner etc etc and even trying to get time to trade London close has not been there.
So if the family business continues with more contracts at the same level next year the alternatives are first hope Mrs V gets better and can trade more often, make time for London Close trades or consider a longer term strategy.
Frank Paul could be an option 9500 + PIPS in 7 months as his trades are longer term in nature. I am looking at this seriously, I just don't have the time to do the research required, need some help with the spade work.
I'm sure lots of people are in similar situations, I still have to find the balance between wanting to trade and the requirements of a family business which I have a significant financial interest in (ie its not a job I would be prepared to let slide to use their time for my personal reasons).
When I get home usually after an 11 hour day its to help with dinner etc etc and even trying to get time to trade London close has not been there.
So if the family business continues with more contracts at the same level next year the alternatives are first hope Mrs V gets better and can trade more often, make time for London Close trades or consider a longer term strategy.
Frank Paul could be an option 9500 + PIPS in 7 months as his trades are longer term in nature. I am looking at this seriously, I just don't have the time to do the research required, need some help with the spade work.
I'm sure lots of people are in similar situations, I still have to find the balance between wanting to trade and the requirements of a family business which I have a significant financial interest in (ie its not a job I would be prepared to let slide to use their time for my personal reasons).
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