Slowing down a tad........ 10/30 and 60 for the trigger line!! KISS, which way is it going ( 30/60 rule ), get in with direction using the 30's range and 10's range. Try to keep it so change of directions, costs me 1/3rd of what I make, so no more scalping out, trust the direction and let it run! If there is no direction, don't bother to play! easy!
Still can't believe SL hit, saw it nearly hit, thought yeah survived the down spike and reverse for once and 2nd down spike, did we get Turveyd, no, lets spike 1 more time! Range and Direction, Engage dumb ass!!!
Still working on plan, looking like a 24sma based tighter than normal range, twinned with a 120sma for longer direction. Intraday swing, wait for direction change, jump on, hold till direction goes flat orvtime direction likely to change.
Initial live watching is looking promising, checked it on the DAX and errr no, doesn't fit that at all. EJ went 50 before the 24sma flatted out to make me exit. EA Downtrened slightly after which is always nice, not as well think 25 GA uptrened off the low's with the 120, low of range and hold worth 40+ pips. Smaller 10sma based Envelope is gone, although it worked, it failed too often, chasing market created to many large SL losers. This looks like tight SL's sub 10, I'll leave 2 positions on just to halve my risk while I practice. Kids tomorrow so aim to trade Live! Yep, that's a system reset and restart on my excel chart!
Method, does work on the DAX I'm seeing, BUT there are a lot of spikes outside of the range, basically SL takers right before the reverse, what's been costing me of recent, yep that Better odds on range holding and direction = more confidence, DAX has to go Can I take the trades when setup, without over thinking and screwing it up ?? that be the issue as always.
More patience entering need a few bars if no new lows, same with exit, although plan is to ride longer trends intraday anyway. Need to set alarms at buy points to not miss them, then stalk for a good entry with the 120s direction, or 24s if strong fast trend. Easy!
No time today, do realise this plan requires............ 1. Being able to spot a trend move already in action 2. Trust it enough to enter near the 24sma 3. Then actually let it run for a while. 4. While trying to dodge trade reverses. 5. Keeping the risk/SL small enough to not wipe out good trades. Why is it never ever ever ever ever easy! Manic day, had 5mins top watching if that! Charts are looking pretty sweet, after the fact, the 120sma is only an advisory really, works in slower markets where it's choppy with a slow upward bias, faster trends just do there own thing. DAX, still looks rough, lower volume, it pauses and chops too much, makes it hard to read the action I think, defo better off without
Still strugging, with using live new method / approach........ GBPAUD for instance. Loads of Touch and Reverses on the range today, but they approach the ranges fast then reverse just as fast, so there is bugger all time generally to confirm it's not going to blast through, which it doesn't do often, but does do. Only 1 trend extension, which would fit the bill, loads of fakes. EURAUD, 120 called a slight downward momo better maybe ?? EJ same EU Same. GJ Mad!!! Okay so today, Euro Pairs are trendy and slow and nice and long term holdable, all turned up recently. GBP pairs are CRAZY, have to compare more days, could be a EUR vs ??? only deal I guess, for this kinda method. Work
am I better off, without the 120sma ??? kinda laggy, might be better off, just using the 24. No I'm never happy! 60sma is definately more relevant more often I think, atleast today. Might solve my issue, TIRED and HEAD is KILLING ME is the main issue!