Technical Templates Continued

[Pipcrawler]

This thread was created to continue the discussions of trading methods taught by Tess and her crew in Alternative Technical Templates. and Technical Templates 2

Enjoy!

[Blaiserboy]

Although I have not been a prolific poster in her thread, I have read through it a few times...... and learned a lot from it.... and I will miss her expertise and guidance.

daveM

[Sweet Pip]

I'd like to say that I've always held this thread (Tess & Jocelyn) in highest esteem even though I never participated...probably cause they always seemed so far above where I was/am at. I still reference this thread quite often and one day would like to get somewhere in their realm even though that seems like a tall glass to fill

[kagein]

I would like to echo the kind comments written by other members. There's just a wealth of information contained in the original thread. Thanks to Tess, Jocelyn and Andre my trading has improved enough for me to land a prop trading position at a private fund. Even some of our experienced traders found their material very interesting, so to all those who haven't read the original thread, i strongly recommend you do so

Its unfortunate that they are unable to contribute as they did before, so i thought i might throw up a chart or two when ive got the time and hopefully share some ideas. I trade the gbp future as opposed to the spot rate. There are some differences but the charts look more or less the same, so it shouldnt be too much of a problem.

Hope the markets are treating you guys well.

[tonymand]

Originally Posted by kagein

my trading has improved enough for me to land a prop trading position at a private fund.

wow George that is fantastic - well done!

[apache rider]

Originally Posted by crosshairs

I was going to say in case of false breaks, but of course false breaks don’t really exist do they. I either accept my entry is returning profit or it isn’t.

I’m going to give some thought about how I might incorporate the average daily range of a pair into my plan.

I was half expecting you to come back with a typical 'feed me' ("so tell me what I need to do with it") kind of comment.
but I see you’re prepared to actually roll your sleeves up & think for yourself.

refreshing.

[apache rider]

what’s the read on the exuberance/despondency meter today then Mr crosshairs?

[crosshairs]

Good morning apache rider!
Interesting to witness the behaviour of the various financial centre’s trading sessions when tracking developments.

My watch list highlighted continued exuberance on GBPJPY & EURJPY this morning after the Asian session maintained the positive direction from London & New York. Both have scaled yesterday’s highs respectively & are above the Weekly & Daily opening prices. They were both decent buy candidates!

The GBPUSD is trying hard to push up, as are the EURUSD & AUDUSD, & although all 3 are trading above the Weekly open & today’s open, they’re all struggling to scale above yesterday’s high, so I suppose you could say they’re mildly exuberant?
I think content would be a better description.
Certainly not worthy of a bet today so far though.

The Asian session didn’t like the GBPUSD level however. Obviously it’s recovered somewhat since, because the London buyers are back in evidence.

The CAD is the complete reverse of the above. Not really doing anything at the moment, happy to languish contentedly at last weeks low & today’s open.

Edit:
And as I type, GBPUSD has now decided to make a move!

[crosshairs]

I'm still doodling with how I might best utilise this addition. I'm thinking along the lines of perhaps incorporating it alongside a possible trailing stop option.

I'm testing out the 5 & 10 day readings at the moment. My reasons being, a lot can happen over the period of a week in the trading world, & these averages would offer a closer relationship to the current behaviour of the price action.

Anyway, it's a work in progress.

[apache rider]

Originally Posted by d-pip

how about something as simple as a price break of the high or low of the previous 4H bar. Straightforward, simple and would get you into some very good trades, right?

I don’t know, would it?
alongside whatever else you plan to utilize with this 4H bar trigger, how does it stack up on your research & development sheets?

Originally Posted by d-pip

Maybe the more we understand the typical price movements the less complicated it needs to be? What do you think?

do you need to understand the typical price movements in order to take money out of the market?
are price movements actually typical?
if so, how does it stack up on your research & development sheets?
does it make you more than it costs you to operate?

if whatever either of you are using at the moment is returning you sufficient profit for the time you’re investing, then you have no need to fix something that isn’t broken.