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"It Always Comes Back"


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"It Always Comes Back"

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  #61 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

This awesome setup appears just before 0500 this morning.
The white arrow appears followed shortly by a red arrow on the 512 tick chart.



The trade is entered before the red arrow develops.

I then switched to the 2000 tick chart.

The first target triggered and I moved the second target down quite a bit. +5 pips
(I felt like a crazy man and moved the first target to 5 pips instead of my usual 3).
I also moved the stop to above the entry but I would have had a little profit (+/-1 pip) on the trade if price would have retraced.

I closed the trade when the long white arrow appeared. +30 pips



This is the rule and I also had to leave for work.

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  #62 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
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Good trading!

What stop did you use? -tks

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peace, love and joy to you
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  #63 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
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aquarian1 View Post
Good trading!

What stop did you use? -tks

It was an ATM stop when I entered the trade set at 10 pips but I adjust it to the chart a lot of times. On this trade it was moved to 7 pips.

After the first target was hit I moved it to just above the entry so that I would still be in profit if it retraced.

I got pretty close on this trade and if I had moved it to the entry point (which I usually do) I would have been stopped.

I manually trailed the price until the white arrow appeared.

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  #64 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

Up really early

Green Arrow! I got in

Net +2 pips after the 1st target triggered and I was stopped after moving the stop loss to 1 pip below my entry.

Green Arrow! I got in
White Arrow! I got out

Net +19.2 pips after the 1st target triggered and I got out when the white arrow appeared.

I didn't want to chase the price so I waited, had breakfast... waited... waited... yada yada yada.

Red Arrow! I got in

Net +2 pips after the 1st target triggered and I was stopped after moving the stop loss to 1 pip above my entry... Again.

I didn't get a signal arrow after the retrace so I didn't get back in on the downward run.

I just sat there watching it until I left for work.

+23.2 pips.



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  #65 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

Last night I was adjusting my ATM and Stop strategies and setup a couple templates that I wanted to try today.

The first trade I made was a EURUSD short that immediately triggered the +2 pip target. I wasn't quick enough to move the target. +2 pips

I got short again and the trailing stop was triggered this time. +5.8 pips

The third trade was entered long because I received a counter trend signal. I was stopped at -4.6 pips

I moved to the GBPUSD thinking the trend was a little more defined and smoother.
I entered a short without any real signal, just following a hunch, and it triggered the trailing stop. +9.7 pips

Trades 1-3 Trade 4


I switched to sim and traded a moving average crossover system.

I entered a long position but didn't get a very good fill.

The first target triggered then price went sideways for a few minutes.
I had the stop set below the slower moving average.

I stepped away from the computer for a few minutes, the trailing stop jumped up (it was set to trail @ 4 pips), and I was stopped out.

Net Trade: +10.4 pips



I used this method (MA Crossover) years ago when I was trading options.
I didn't have much success with it but looking back I don't think I had a good exit strategy.
I let the trade trade swing back and forth and would often give back my profit.
I've been watching the EMAs on my charts lately and I think the crossovers work well with the TSI indicators.
Also, there are journals in this forum where the crossover is used successfully.

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  #66 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
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Posts: 63 since Jan 2011
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Didn't trade today.

It was a bad day.

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  #67 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

Today is "Spock" day No emotions!

I spent the weekend drilling Vulcan holes into my head. Pounding a "No Emotions" mantra

Today I made 2 groups of Long trades separated by a short retrace.
I didn't want to make any short trades because my regression channel told me that I was in an uptrend.

The 1st group:
+2.9 pips
+4.1 pips

-12.8 pips

The 1st 2 were typical trades where the first target was triggered and then after the stop moved up I was stopped.
The 3rd trade never moved in my direction and I was stopped out.

The 2nd group:
+5.1 pips
+15 pips


I entered on the white (long) arrow. I was a little hesitant to do that but it is part of my trading plan so I jumped in.
It paid off so I guess that's why it's in the plan.
I also changed from 2 targets per trade to all in, all out.
This brought the $/day goal in line too. $/day isn't the primary goal though.

Another thing I want to accomplish is to have the discipline to stop trading after I reach my daily goal of @ least +10 pips.

Right now I can feel the tug to continue trading but I need to conquer it.
I need to treat it as a business not a game. I find that too often when I continue after hitting the goal I end up giving some or all of it back.

Total for today: +14.3 pips


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  #68 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
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Today I jumped into 3 trades that I had no reason to be in.

The first was a long that was chasing the move. I hadn't been up long (still working nights) and just entered because it felt good.
After a few minutes, I came to my senses and reversed the trade.
It moved down into profit but my target was too far away as I did an all in, all out trade and the price retraced and stopped me out. 0 for 2

The third trade was a long when the EMA turned up with the price above it (below were I had been stopped) and it turned down and I was stopped again.

1st: -4.4 pips
2nd: -2.2 pips
3rd: -20 pips (net)

After these 3 trades I took a break.

The next 2 trades were back to my method which is 2x contracts with the targets set @ 50% of the trade. i.e. 1 contract for each target.

The 4th trade was a long that I got in late on. I usually enter at the white arrows but I was away from the computer when it appeared.
I got in at the green arrow which is confirmation.

This triggered the first target and eventually touched the trailing stop.

The 5th trade was a re-entry long that I adjusted the target really tight. Timid I guess, but it worked out for some small plus pippage and the white short arrow appeared thereafter.

4th: +9.7 pips (net)
5th: +1pip (net)

I drew a regression channel on the 2000 tick chart and noticed a trend divergence between the 2 periods (596 -2000).

My guess would be that we may be seeing a turn up in the EURUSD?
The shorter period chart is indicating higher highs & higher lows.



Total for today (so far): -15.9 pips (net)

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  #69 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

Big time losing day.

The last trade crushed me.
I entered using my rules (white arrow) but I was under the moving average and entering a Long position.
I was also in a downtrend.

I blew it!

Total: -19.8 pips net



I made one more trade when I received a white arrow and the EMA changed to a friendlier color and regained 6.2 pips




Todays Final tally: -13.6 pips.

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  #70 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received


What is courage?

"Mental or moral strength to venture, persevere, and withstand danger, fear, or difficulty"

I have a good "job" that I hate. But, I have the job.

However, for this Dorothy, "Kansas" isn't a very happy place!

It's time to go to Oz!!!




The journey to Oz requires the courage to walk the Yellow Brick Road. One step at a time, through the forest (Lions and Tigers and Bears Oh My!).

The Wizard awaits... Lets not keep him waiting!

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