That was very hands off, 1 perfect 10 best I'd seen, looked up saw me 30ft away, paniced got dressed while ringing someone, eccckkks get out of here LOL M1's gone, tweaking and perfecting the setup, this could take a few years LOL
And worked out, why I don't trade this way..... There is never a setup, when your around, as there are only 4 or 5 setups per day, need to be checking market through out the day pretty much constantly
Never going to be able to make a wage from M5 as not around enough to catch the entries required. Need a compromise somewhere inbetween, sadly no access to M2 or M3 charts which would likely be ideal!! Back to M1 but slower!! MAE 24sma 0.03% MAE 9sma 0.02% Just got to gain trust in longer trends and hold longer, to over come the spread/comm charge shite
M5 scrapped, can't trust live, not enough setups, have to be around for hours to monitor at times, so not going to work sadly!! New M1 method, real simple I've got to read the action. MAE 10 0.02 and 0.04% that's it, 4 lines. SIMPLE as, wait for direction, but if upward long near the 0.2% if possible, exit on the 0.4% breaking or direction. Real Real simple, it's doing X join it. Test UJ 2nd May 9am GO!! 9:12 S 112.11 S 112.13 - Flattening S 112.145 - turned up X all 112.13 so BE. 9:42 L 112.13 X 112.18 +5 Didn't take the pull back ran 112.15 - 112.23 okay looked more LOL Down - back up chop alert 10SMA FAILING!!! Too changeable, reset at 18sma same time start ( I have zero memory so not cheating ) 9:04 L 112.125 - turned down - Spike Exit 112.13 BE 9:09 S 112.13 - weak exit 112.105 +2.5 WOW!! UP Change 9:46 L 112.13 exit 18 +5 Missed follow through again LOL 10:16 L 112.195 - Turning Exit 112.235 + 4 10:45 S 112.235 S 112.265 - crap turned exit 112.275 -4 -1 FAILING!! Strong down move with good entries +6 +4 then double bottom flips up +10. 13:17 L 112.24 X 29 +5 13:37 L 112.25 L 112.22 - turning argggh - exit 25 0 +3 ( less comms +1 ) Not enough money, skipped forward entry for +10 +8 So it'll be profitable allowing for Comm's IF I avoid slow markets, which is where I struggle, as always patience wise and judging what is strong or not, need a plan for that
So what I'm missing is a gauge of relative market strength, to act as a bother to take trades, kinda like the longer term M5 so yes a SMA in short. 60SMA looks good, 1 hour trend. Gauging Strength by IF the MAE 18 0.02% range is over the top ie the 60sma is not in between then play longs, if it's inbetween then it's too likely going to wibble. Getting tired, quick test on that logic looks quite strong, the 18 entries look very sweet, if you filter out all the sideways and play with the longer trend. Trade this live tomorrow LETS ROCK!!! ( Aliens )
Live Sim Trade UJ uptrend via 60sma rule, L 112.82 EXit 88. Might have something here, scan the markets my 3 or 4 items, watch the 1 with best strength so no flicking around, then just play the range, with this more objective longer term direction. Forgotten all about DAX, looks pretty sweet via this setup.
Early live indications on the 60sma filter rule are very promising. Work first time in nearly 2 weeks, I hate my life TRADE HARD, give up work, come on I can do it!!
IF only it was that easy, I so want to be rich!! Current setup looking better and better, 3 1/2 hours in a meeting with zero phone network sucked!!