Method is awesome but........ Doesnt create enough trades so gone lol Trialing live, 6sma Envelope 6sma 0.05% Envelope 10sma 0.07% Loads of trades called all small, keeps my interest in short, waiting for hours then going fir a larger hold, just doesnt work for me.
I wonder why I like the Bund. I like being a slow turtle than a Bunny Rabbit jumping around. Yes, I will never be the one who can shout to the world I make huge single large Day trades, I just quietly rather make consistent little small day trades.
Back to doing what I do best... Embrace the chop, with direction if any. 2 positions, 15sl, hard to time chop after all. Reversion to mean trading. Fast moves out side the ranges, generally return to mean given enough room for error. DAX Becomes trendy again might have to rethink.
Made a 100ish, playing range, missed all the good moves, atleast I'm trading then i have a chance. Kiss baby!
#']Right, After Tuesday I have ZERO work booked, so time is running out, need to stop messing and experimenting and dig in and start making some damn $$$'s What's the PLAN!!!! Time to make it and stick to it!! Chart settings :- SMA 5 Envelope 5sma 0.04% SMA 12 ( looks best from testing ) Envelope 12sma 0.06% Entries :- With 5's Direction if strong, towards the other side of, fast movers only. Play the 12's range, with direction if there is 1, never against. Strong moves, 12sma can be a good entry point, outter 5 likely match up to. MM Crap :- Going for 2 positions again, $3 per pt currently as account taking a slap leave some cash spare!! SL 12-15 area from 1st position, give it room to breath stop the death by a 1000nd cuts. Max loss, 15x3 + 10x3 = -$75 or 2.3% #]7 Exits :- I'm okay at Exits, nothing much to worry about there, depends on market conditions, got to err more towards scalping, small repeat profits, don't try to cover my 15SL each trade, like an 80% profitable rate here. Manual Exits upon trend changing against me to reduce SL costs also ofcourse. Times to trade :- Starting to go to bed for 11pm, DAX trades really well 7:30am gmt to 9:30am, by the time I get up at 10am+ I'm in choppy nasty market condtions. 3pm till 5pm also good, but tricky kids and crap After Tuesday MAX EFFORT Required, time is running out, Daughter isn't talking to me, got her mate to have a chat earlier LOL Hopefully got till September before I'll be having her back and spending my money again
Strategy day........ If i stick to when 12sma is pretty flat, play the ranges 1st position at 5s range, 2nd at 12s range. That makes money repeatedly 2 to 7 profits before a loss, 2 will be near BE overall mind. Long 10311 just 15sl is huge in current market conditions, dropping to 10 will have to adapt on the fly. Exit 17 +5 or $15 Short 17, 12 was moderate downtrend but flat already. Strategy, then i have moderate trends based on 12 then enter near 12sma, 2nd position low 12 if trend fails as likely chop back to high and profir. Exit 13 +$12 Basically stick to above, stay out of faster markets cause i cant hack it they kill me. 12 turning down, not going long. History seems to suggest i play this way build up the account slowly then get greedy ad try to trade fast get rich markets and get poor lol accept slow and boring. I was wrong on the trend, less opinions required take the trade let SL decide if right or wrong. Should make $100 per day pretty easily, $200+ on a good day, grow account up sizes as i go don't be greedy. Cant see any other markets with daxs chop range, so guess I'm stuck there, although i do like the slow trend plays on EU will watch and see, most of the time EU works that way.
Added a 50sma to better define moderate trend, further away from 12 stronger the trend, get to far then only play that way. My old old fav, EurJpy, low margin requirement, low comms better movement, range to small for sideways chop, but slow trends a lot and well, why ive added the 50
So need 2 chop profits by the look of it to cover a 10sl losss. Make 10 trades in a day, 8 profit, 2 lose, wiping out 4 profits = approx $60 Saw an MT entry at 23 didnt take it went 8/25. Moderate Trend entries are where the money is, why EJ is back, getting in early enough is key, that spike and reverse gets me thinking high odds of trend change or back to chop. So best avoid to a good range entry. Right so far this time, 1pm news time nearing Long 21 risky, no stupid, 12 and 5 down hard, I'm out +$2, if I'm right fast sell off soon.