Little trick ( 5 sma Envelope ) that wasn't working for me Live is working for me Live today, no worries at all, that just proves I lost the PLOT big style. Might get a few hours tomorrow afternoon, but doubt it, no chance this week comes to mind. Work, Work, Holiday, Weekend, Holiday then we'll see likely work then ??
Quick review of the day... Method is looking super fly, my trade worked not many pips like 4, risking 6 I think it was, next trade I wanted to take but had to work immediately after, ran 20pips. 5sma envelope, nicely points out immediate direction, then 24ema envelope the slower direction then 100ema the slower direction still. The 5 and my usage method although obviously laggy slightly, is still less laggy than my normal watching method and more efficent.
Tired, 1 more day to holiday, spotted 2 trades didn't take them, shame it's only 4 days away and my arm is still seriously screwed up so climbing and biking much is doubtful LIFE!!!
Method is fine, off on holiday in approx 3 hours, had some time to watch but left it at that. Too hot and sticky and arms to sore and penecilin ruining my guts so staying safe till next week ( or on Holiday if bored LOL )
Back off a short holiday, quick recon before I go back to trading tomorrow, does method still have enough merit ?? Thinking about it over the weekend, think I'm going to dump the 100ema and just kinda play the immediate direction so........... if 24sma Env's are going down, then looking to short near the 0.04% upper or just play the range on stalls. GA the 100ema works as S/R ( like 85% ), DAX sadly, to random to behave that well to anything, but hey!! Play the range, look for pauses, use the 5sma envelope and reverse with a tight SL, repeat!! 100ema cost me a loser Friday in the B&B, hit my SL then reverses typical reversed for 2x's profit aswell
Simpler method is looking good so far more in the moment, removed the 100 envelope aswell to remove counter trending more, its just 3 envelopes, need to get better at spotting trend ie quicker the information is there so no reason I can't. Anyone watch that day trading bbc show ? Interesting to eatch others trying for years 7 years with no real success and Pros having bad days and blowing a weeks profits in 10mins, and they said the DAX is the hardest one to trade lol Work today, im 7mins late and still in bed, dont want to work today
Getting head around live setups had some time to watch and calling setups well, kinda a I should, 5 mins later ohhh that worked while working deal!! Learning when to enter and when it's having a momentum move, don't bet against the 5, slow move down are what is killing me, stealth moves. Tight SL's and single positions are key, so when wrong no real issue, try to get 1:2 R:R going on soon.
Methods working fine but tught ish SLs are costing me but mainly the tablet software i run, trade interceptor has become useless since they vecame a broker aswell. Chart froze, trade went negative the PL was still calculating, then it disconnected wouldnt reconeect or 3g, android or ipad, then it came back so i could watch SL get hit arggghhhh. About to get back in and froze again, missing a 20pip run. Cost me $1000 today, loss of 400 which was up 300 and 550 area on the missed trade, useless. Just closed a trade pulling back 230 atleast, which kept running. WHEN DAX Pauses is it really paused or had my chart froze again. Trading is hard enough without software issues, yes i have written a nasty complaint to them, if not sorted soon i will be looking else where, not the first time its frozen in trade, never seems to freeze while not in a trade.
TI support got back to me, glitch there working to get it stable again, just damn bad timing!! Made back most of previous loss earlier, no issues!! My SL is the current issue, spikes before reversals have cost me 2 trades recently -$300 and -$400, which went +$500 and +$1000 so I'd be +$2000 call it. So go back to further away SL's for Range based trades. Actually what I'm thinking is :- back to 42sma based Envelope, adding a 0.15% aswell, which is where my SL stays atleast for range plays, suffering very few SL hits out to that level, only major trend changes which is fair enough. Higher risk trades out near the 0.15% will be slow tops and tight SL's, not going to ban them cause rules only stop the $$$ making. Scrabbling to get back into being profitable SUCKS, stuck in the $8K to $9K area.