Market Energy P2: Simplified

[SpecTrade 10]

As my trading strategies have been simplified, I'm opening a new thread with updates of my trades. ALL TRADES ARE ON LIVE ACCOUNT

Attached images represent these simplified ways.

Chart setup (use FXDD or Alpari MT4 demo time zone charts, I prefer FXDD):

 

EMA CHART:

 

1. EMA's - 365 (high, low, middle, representing rather large potential interest zone PIZ), 275, 150, 21 (high, low, middle, as a band, used primarily for adding into existing trades when the trend took off, sometimes for new trades if original ones have been stopped out by trailing)

 

2. Koharmonics indicator - simply, I don't trade harmonics very much, and want to just keep an eye on them, hence the use of this convenient indicator)

 

3. Swings (zigzag set to 10, 5, 3) - often I use these swings to put Fibs retracements

 

4. Fibs: all standard, add in 70.6, and 87.5 & 12.5 - these are price zones where the trend can reverse without giving 100% double top or double bottom. I'm most interested in 50%

 

Basically what I'm looking for is PIZ (potential interest zone) marked dark-yellow on the chart. When price approaches PIZ I'm watching for the development of the following TRIGGERS:

1. PB - Pin Bar

2. IPB - Inside Pin Bar

3. IB - Inside Bar (the smaller the better, the best when IBs get smaller one inside the other)

4. NB - Neutral Bar aka Doji

 

On Oanda charts I use the same as before: 200 SMA and 120 SMA I add EMA 21 (H,L,M).

 

Either I will trade on the open or on the breakout of the bar high in an uptrend (or low in a downtrend).

I like when the PIZ is confirmed with specific retacement, especially 50% retrace. Put it another way: I like 50% retrace confirmed with an area supported by one or more of the EMAs.

 

ICHIMOKU CHART

 

My recent interest in revisiting Ichi gave me some new insight. Very simple and basic:

 

1. "Ichi" - Ichimoku Kinkyo-Ho standard settings

2. RN - Round Numbers

 

Here I especially like to use cloud as Support/Resistance zones, the Chinko span which is very helpful with identifying future PPZ (Price Pivot Zones). I will not trade on RN alone, seldom on Ichi alone, but if the 2 converge and one of the trigger bars developed, I will look into it and decide.

 

RISK

 

About 1-3% on each trade. But I use fixed $ amount, for example on account of USD4,000, I would risk between USD55 to USD150 on each trade. If a loss, I will not decrease the amount risked, until there is USD1000 loss. I will not increase the amount risked until I've made at least 50% profit.

 

I look at the charts once a day. I live in East Asia now, so for me it will be at 5am (if previous night the price was approaching PIZ) and 1pm (depends on summer time savings change). That's all.

 

TRADE MANAGEMENT:

 

Stops are below the entry bar. I divide the trade into 2 parts. So it can be for example 2 mini lots, or 20 microlots, or amount, i.e.: if my excel sheet calculates risk of 2700 units of EUR (I trade with Oanda hence the units, not lots) I will enter 2 orders each 1350 units.

First half of the trade is closed at a specific target, usually 2:1 or better.

Second half I trail with ATR-EMA Stops set to 2,2,2.

Edited November 26, 2012 by SpecTrade
FORGOT TO ADD A SENTENCE, ATTACHMEN CHANGE

[SpecTrade 10]

CONTINUE TRADES/SETUPS FROM MARKET ENERGY THREAD

 

Gold: small PB off ema21: @1,733.4 stops@1,719.1 / 1,709.0. Now both to BE. I hope to take some profit @ 1,770-80.

 

Still in

 

 

GBPJPY I got short as the price entered sell-zone (yellow on chart) and broke PB to the downside. I'm still in, but this one seems to be a loosing trade. Price went sharply up, but didn't break the PB high, yet.

 

Loss -146pips

 

EURAUD I put short order but price never went there. being where we are at nice point 200sma, as I see it, I will also put long order on Mon on the breakout of inside NB.

 

Setup cancelled

 

EURUSD @ 1.2782 after initial stop of half of trade I'm still in and locked profits @1.2867. Price went from 200sma to 365ema.

 

Still in

 

Finally, best trade, USDJPY still long from 79.58, 2nd part of trade locked@82.00

 

Closed for total +165 pips with risk 65pips

[SpecTrade 10]

Good idea for a bounce trade, but for me too late for it now, and I mainly trade Gold and Euro. Loonie can be good, but from what I've seen year after year, it's better to just do it on bounce (touch trade, where we use limit orders) than bar triggers.

With bounce however, there are questions: where to put SL? how to manage right after entry day? too big a SL too small profits ratio, too small SL too many loosers, but winners can be huge.

I'll be back to touch trading after I find some answers to these questions. A few years from now, perhaps...

[SpecTrade 10]

CONTINUE TRADES/SETUPS FROM MARKET ENERGY THREAD

 

Gold: small PB off ema21: @1,733.4 stops@1,719.1 / 1,709.0. Now both to BE. I hope to take some profit @ 1,770-80.

 

Still in

 

 

EURUSD @ 1.2782 after initial stop of half of trade I'm still in and locked profits @1.2867. Price went from 200sma to 365ema.

 

Still in

 

 

Gold stopped out at BE+12. I can't help but...wtf is it with Gold!!?

 

Euro 2nd part +105. Total (first part lost) = 33 pips.

[SpecTrade 10]

Euro is messing around at PIZ.

On Monday I set straddle: long @1.2986, lost -75pips, short @1.2937, closed BE.

 

Today I'm putting again long order @1.2963 stops1.2867, first TPO 1.3080

PB at PIZ (ema 356 on Oanda chart, ema 275 on FXDD chart)

 

EURAUD long order @1.2388 stops 1.2323 1st TPO 1.2500

PB at PIZ (200sma)

[SpecTrade 10]

EURUSD half closed @ TPO1.3084, half stops@ 1.3009

 

EURAUD half closed@ TPO 1.2497 half stop@ 1.2464

 

New trades:

 

EURAUD short@ 1.2477 initial stops@ 1.2549, today half moved to 1.2524 due to PB developing in the opposite direction. Trade reason: PB at RN and Kumo.

 

EURAUD order long@ 1.2524 stops@ 1.2464, TPO 1.3000. In case of this pair I try to use next RN as TPO, i.e.: 1.2500, 1.3000, 1.3500, etc. It can be wild, so it's worth it.

Reason for this trade: opposite PB at RN. Also, right on Ichimoku cloud (Kumo).

 

Gold order long@ 1,711.4 stops@ 1,689. quite large stops, so very small position.TPO: 1,737.0

Reason: good separation, could even say PB @ sma120, RN, and 706 retrace.

[SpecTrade 10]

Euro long closed, total 98pips

EurAud long closed at loss -59pips

 

EurAud short half closed@ 1.2523, half still in, so far stops to b/e, will move stop on Mon.

 

Previous order on Gold not filled, new one filled today.

Long @ 1,7044 stops 1,683.

PB sitting on ema150 & retrace to primary zone of last swing. I think it is still bull on long term,

but previous large horizontal terminal pattern (double top) suggests change in trend. Below 1,600 I would assume serious bearishness. Silver still looks fine, kind of accumulation pattern.

But short term if Gold gives bearish entry I would also trade short, off course.

[SpecTrade 10]

I'm getting lost in my own posts, so to clarify:

 

EURAUD long order @1.2388 stops 1.2323 1st TPO 1.2500

Closed for +93pips total

 

EURAUD short@ 1.2477 initial stops@ 1.2549, today half moved to 1.2524 due to PB developing in the opposite direction. Trade reason: PB at RN and Kumo.

Closed for +27pips total

 

EURAUD order long@ 1.2524 stops@ 1.2464, TPO 1.3000.

Closed for -60 pips

 

I also went short EURAUD yesterday at sma200 @1.2335 stopped completely @1.2395 for -61pips

 

Gold long@ 1,704.4 stopped at BE +4

 

Gold long @1,715.1 stopped out @1,701.6/703.8 for -126pips

 

Only open trade is today:

Gold short @1,704.5 (order from Dec 11) SL@ 1,718.8. Let's see how it develops.

 

Basically out of the hole into another hole. Can't get out of DD. Maybe just trade Gold, forget all other pairs? After doing 5-6 pairs for many years that is hard to do. Should shut down all charts besides XAUUSD. That's hard to do.