Working on my EMA's today, trying to decide how best to see trend to use my tiny range to use it. Looking like a 30/60/120/240ema's. Trying to get back into, when to use the range, plot lost!!
Market conditions have changed yet again, method is struggling, not dead though It's just more changeable on the direction, although the longer term direction when there is 1 is super valid, the shorter term 5 direction, isn't as strong or long lasting. actually that's DAX, GX pairs have the right kind of action, just tricky to cover the extra costs. Improvise Adapt and Over Come as always
Analysis, current issue, via DAX........... Setup, using 30/60ema's when the 30/60 has direction, enter using high of the 5 when the 5 is weak, not when it's mid momentum. Okay, 7:15am area, worked, scalp, scalp, scalp, down move, if in hold if possible (no chance ) Drift up slowly back to the 30, playing the top gets scalps risky, hmmmmm Near the 30, 5 turns down and nice down move. Just found a new plan 9SMA, 1 based on High. 1 based on Low, trading of the directions of the SMA of the High's and Low's the Bars make kinda makes sense, it self adapts to the market condition ie bar range aswell, which I like.
Little tweak using the high and low works nicely, bad stomach bug so just watching at the moment. Might try some live years soon see how I feel.
Well another day, more changes and Mod's to make it work longer term hopefully!!! Dumping Heikin Ashi, wanting the increased detail, taking me a while to get used to the noise of normal candles. The 9sma H and L works a treat, shows the trends of the low's and high's seperately, that's talking to me nicely, nice auto setting on width, less of a range. But I've added a 13sma envelope 0.05% which is my range ( DAxX might need bigger ? ) Didn't have enough good trades, so I was scratching around in full time mode, making too many bad trades, this seems to improve things, as more good setups to take, less chance of getting bored. Still bad stomach bug issues, so no trades as yet, just theory, too much time spent on the loo LOL
Got back my kinda step daugther, little Amelia 3 end of August! Got to start increasing my income, better start making more effort to trade, got a killer of a cold at the moment, bad bad week or 2, hopefully get back into this upcoming week. Better do a test of how method is looking I guess.......... All attempts to lock it down have failed thus far, worked for a period then changing conditions ruin it
Made a few trades Thursday at the client, gbpaud jumping on the up directoon, easy as quick $400 Client hasnt let up yet, really wishing I'd quit.
CC debt is mounting, need to pay that back only $1600 area, better make some effort and cover that from trading I guess. Wednesday clear to trade, must start making more effort! Method is FINE!!
Epic Fail last week, got distracted trying to turn a cheap road bike into a well setup better road bike, on the weekend gave up and bought a better road bike LOL Bikes to pay off and credit cards building up, need more money!! Plan.............. 1. Reducing Lot size 2. SL out to 20, direction correct eventually is better than hair trigger, manual exit before -20 when possible. Lets drop the pretence of accuracy and just play a numbers game....... 1. Direction is X 2. Enter at a possibly okay random guess with X. 3. Exit when X changes or profit is enough to make the risks worth it. 4. Reduce screen time to casual trading level, ie can casually watch while working, not every tick! Simples!! No real hurry as no cash flow issues forecaste yet!!