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I want to start a spot were those of us who trade ETH either because we like to or because we are forced have a spot to toss around ideas.
I use to trade spot FX i stopped about a year and a half-ish ago mainly because i didn't like my results and waking up for London then going and working 8/10 hour days were impacting my life in a negative way.
Goal is to trade between 630 pm EST - 11 pm EST roughly stopping point in Asian market lunch time.
I trade using bollinger bands, SMA & MACD using a systematic approach looking at S/R levels.
Hows it going so far? I just started sim trading the 6E in the evenings. I'm on the west coast, and work full time so evening trading is probably my only option. Funny i just happen to stumble across this thread
Ive been trading the ES during the day and haven't been able to spend the amount of time id like practicing on these two as i wanted. But what i did find out is i preferred a 125 tick chart for these this time of day.
I dont know how you are looking to trade this but i am very short term in all my trading and this time of the day you are some times left holding trades much longer then normal.. not holding losers but holding until it reaches a t/p or signals to exit.
One of my issues has been finding a way to determine why some days are great trading days and some are total dog s**t, what i mean by that is absolutely no volatility / liquidity . I know this is ETH but there are some days that are great great days, I'll be looking back at my journals and seeing if i can reference some news or any indicators of what is going on but currently ive not found anything.
It defiantly seems like there is money to be made just have to make sure you dont go into this thinking your trading the ES and you'll be fine, that has been my issue some days i have to physically write my self a note that says that lol... but it works.
and it seems that at 730 est there is usually a surge of orders for 1-2 minutes i usually make sure im out of the market.
if anyone has a clue as to whats going on please fill me in.
if you want to know how i actually trade this ill post some charts with some detail either tonight or tomorrow whenever i get some free time.
My (sim) trades are fairly short term also. The scalpers journey had a big influence on me as well as Mack of PATS. I'm mostly using ETH VWAP + trend channels. Essentially taking pullbacks within a trend. But can be quite painful when the market is moving super slow, and easy to get shaked out. Im always open to seeing other people's charts. I can post mine as well.
Looking forward to hearing, seeing what others are experiencing trading the ETH.
I am on the east coast and work full time also so I'm trying to nail down some trading hours that will work for me. I've only started a couple of weeks ago but so far to me it seems that there is more volatility and liquidity in the early morning hours when Asia and Europe are open, so I've been watching the market between around 3am and 6am, although is seems that a lots of times i have missed trades that set up at midnight or 1 or 2am.
I'm using a trend following system that uses a couple of indicators and basic support and resistance that I'm sure most will know. Following mostly 6E, but also looking at the other major currencies.
Thanks for starting this thread.
I will also try to post some charts when I can.
last night would of been a great night in hindsight but anyways,
I added alot of examples to the chart of where i would have entered,
Basically my system is all about S/R and i use the indicators on the chart to help support my entires of where i think price is moving, im never locked in to short or long, if i get a long entry on a short biased day i take it. Like i said i will be biased one over the other but will never be locked in to only short trades or only long trades... only issue with this is you can get your self into a situation of over trading to be careful and dont play the candles make sure you are looking at the levels.
I usually have a 900 tick chart up and ill plot the RTH sessions high low and major POC , i try to keep this to three horizontal lines it seems like if i use any more then it turns into a mess... rarely do i take a trade off of this chart but i will if every matches up perfect.. my t/p & s/l are larger for the 900 tick chart to allow for whips in price.
you should be able to see all the indicator settings, for a long trade MACD needs to be diverging up pointed at 1-2 o clock price needs to be closing on the upper side of the bands as well as the SMA. only take trades once price is closed,
once we double bottom like we did last night i do like to see the break above the middle band then reject the band before going long.. this doesn't always happen but when it does i look for a strong bull candle and buy the close.
once the MACD does positive and then takes a turn for the negative you can take short trades but normally i wait for a double top of some sort of reject of price before shorting...unless there is a huge gap from price and the middle band then id take the mean reversion trade but your basically shorting the top so beware.
price action swing doesnt really get used that much but i do like to see what is going on in each swing and, i don't take trades off of what it says though.
short is basically the opposite of going long, i look for moves that will get me in and out fast and with momentum so either with a breakout or with a pull back and buck up to the previous high, i have no intention of predicting price action for a session.
hope this helps, i kinda skimmed through it so if you want more info let me know and i can break it down or maybe if i figure out a way to video a session i can do that.
February "competition" is starting up in a couple days, need more players!