As volan say’s, sounds like a plan.
Scroll back & revisit some of the examples of previous posts where you were asking similar questions & see if your current understanding differs from back then or it’s been further confirmed & enhanced.
If you’ve got your background structure nailed down then a current example should reflect a strong bullish alert (foreground stance) on usd/cad & a strong bearish alert (foreground stance) on eur/usd, yes?
Exactly - in fact did get an alert on eur/usd today 
- - but I was sleeping 
- - not sure why I didn’t on the usd/cad. . . my programming suggests that I should have.
shadowline :: volan:: would either of you open P.M. for a day or so, just want to run something by you. Thanks if you do!
THanks Volan & shadowline - I’ll spare you the pic & drudgery of repeating yourselves once again !
I’m playing a 1hr hook on eur/usd right now - hoping this one goes as planned.
A lot of the biases are rotating & transitioning this week & blowing off a little steam, especially when viewing your gambles from that timeframe, so it might just test your mettle depending on your outlook & frame of reference.
It could just be a temporary rotation, but nonetheless they’ll undoubtedly be one or two shake outs before it’s done.
Good luck with it.
There’s been a few of these movements over the last couple of days which have presented opportunities on 4h hooks-
Gbpnzd & Gbpcad (Eurgbp similar)
Usdjpy & Eurusd
At the minute, the Pound pairs seem to be working better due to a slightly more hawkish sentiment coming out in the last 24 hours.
The Dollar pairs might get a bit of traction this afternoon with some new data points for the first time this week.
I’ve now got all my pairs set up with the 4h chart next to a 1h. I can scroll through them and see what’s happening on either timeframe - even if the 1h is my main background chart, the 4h can offer insights like those above.
I also took an entry on Usdcad as price moved back through the Weekly open-
I had an eye on trying to get positioned before the big 1.30 number. Let’s see how this one shakes out…
Nice one.
The set up process remains the same;
Identify
Filter
Prioritize
& execute via the higher probability play.
That’s the best you can do mate.
Either the bet management or the stop loss will do the rest.
1 trade for today-
Eurcad- 4h & 1h charts. 1h hook off yesterdays’ lows-
5m for entry-
All in all out on this one - Profit target back up at today’s open.
Yeah, that’s a nice tidy bet!
One or two of soultrain’s punters have been taking large chunks out of EUR & GBP v/s Aud too late this week playing similar tactics.
Get em while they’re there mate 
Looks like I got shook out a bit too soon. My objective was to be all in all out, so I can’t really have any complaints now. Just a bit more work on trailing stops!
You virtually achieved your objective + you drew decent profit on the bet, not much to grumble at there.
Familiarity with an approach comes with time & experience.
The more you play the more you learn the more comfortable you become, particularly if your routine is stable & consistent.
That process takes time. If you’re managing to hold your own financially & even tacking on positive expectancy whilst establishing whether this type of betting approach suits your style, then you’re already in a good place kechel.
Looks like slim pickings for the start of the week ahead.
On the 4h charts, I still have Usdcad on my watchlist- as long as July’s highs hold as support, I’ll still be looking for buying opportunities.
Elsewhere, there could be some interest with the late Aus & Nzd strength if it continues at the beginning of the week.
Audcad is one where a break of last weeks highs could trigger continuation bets, but I wonder if it’s a low probability scenario (not the ripe fruit mentioned before)
This’ll be the first time I’ve really traded through the summer which I’ve been reading can impact liquidity - do any of you guys amend your objectives during these next few weeks as a matter of course, or do you still look to only react if/when you actually see changes in the market (which we may already be seeing if the ranges forming on multiple pairs are anything to go by)?
I know it’s probably not such a black & white issue, but would you expect to rollover positions less during the next few weeks?
Funny you should say that, coz that very currency (CAD) was discussed as a high probability play in an exchange on the Template thread here Technical Templates the day before your post.
Apart from that there really isn’t much to get your teeth into on fx at the moment based on the approach covered here. But as you (& strobe) have noted, it’s not unusual for range/chop conditions to extend through the mid-summer period.
Obviously theres always something on the docket to whip up a little momentum & if you spot the potential for a follow through push & can obtain decent odds, then try get aboard. You just never know!
The stats & comments from punters certainly confirm that yes.
Those who play that type of approach are less active with new or rollover orders around this time of year for the very reasons mentioned above, but the successful ones run more than one approach anyway kechel, so they’ll swap hats & pick up the slack with alternative (some range based) programs.
To be honest most similar stuff run by the well capped punters is automated these days, particularly the trending models. They’ll simply disable or recalibrate the pyramiding grids if the numbers fail to meet their minumim criteria.
Sketcher mentioned it as well earlier in the week over on the 3 Ducks thread - I think most people trying to use this particular template would’ve had 2 or 3 Cad pairs on their watchlist recently. It’s good to see that other Tech Templates thread up & running again though - hope it continues.
…the successful ones run more than one approach anyway kechel, so they’ll swap hats & pick up the slack with alternative (some range based) programs.
Just out of curiosity - I hope you don’t mind me asking this question as I understand it’s away from the main topic of this thread & its particular template - but the alternative programs you mention (some leaning more towards ranges), are they more complex in their nature?
Could they be presented in the same manner as this template, ie. 3-4 bulletin points as a guiding framework, or is there more to take into account with that type of thing?
No not really. In fact all of the stuff they construct, program & operate are very simple & uncomplicated.
The only complexity or in-depth work if you like, lies in the way they set up the automated grid permutations for the mechanics of their bets & gambles, such as the entries & exits.
They often have whole series of bets running on the same instrument, sometimes both long & short geared for very specific objectives. But the actual set ups of the bets & gambles are very minimalist indeed.
Unfortunately it’s not ours to share kechel, they’re the property of punters/clients whose orders & programs we facilitate & execute.
We will say & strongly advise however, avoid bots & programs that are either free or publicly available for sale at all costs. Unless you’ve put them together yourself they’re completely worthless.
Thanks - it’s interesting to get a glimpse into an area of things I know very little about – it feels like a different & remote world to the one I inhabit.
I hope you don’t mind me asking these questions… are these clients/punters all experienced players, or can you just buy your way into that game with enough capital & learn from someone? I mean I guess they’re not absolute newbies, but how does it actually work between you - are you guys there to only facilitate the programs or do you actually help as advisors & try to improve them as traders here & there as well?
I think I gave the wrong impression with the way I worded my question – it was meant to be more hypothetical rather than asking you to reveal details – I just wondered if in principle you think those other strategies could be presented in the same simplified manner this template has been shown to us?
So for example, hypothetically-speaking, could you explain those strategies in 2 or 3 sentences that an average trader could at least work with? - I just imagine range-trading to be more problematic than trend-trading (maybe especially for newer traders.)
The ones we deal with are yeah.
They’re mostly institutional/industry experienced gamblers mate.
I’m sure anything’s possible but the punters we have (in the past) & currently interact with don’t or wouldn’t make that route available, no.
To be brutally honest the ones you really need access to couldn’t be bothered. They’re pulling in enough dough as it is & just wouldn’t be interested in the hassle of a mentoring or tuition type gig. There’s nothing in it for them other than hassle.
You’ll also find the folks you really need that kind of access to are the very ones who are usually ultra-protective of their work. If you’re lucky you’ll unearth the odd one offering a copy-trading or MAM/PAMM type arrangement, but you’ll have to lay out some serious dough for that.
Generally the ones who are most active peddling “education/tuition/mentoring” set ups are the very ones you should avoid like the plague.
Same old story!
Most of us are brokers inhabiting either retail or institutional shops.
We’ve sat where they currently sit & have operated similar approaches/systems & strategies at one time or another either for ourselves or prop desks.
But these days, for the time being anyway, we live to serve!
How long is a piece of string?
There are as many of those strategies as there are guys gambling on them.
The skill isn’t in the application of the set up because you can make money ranging by simply shorting off tops & longing off bottoms - the money is made by structuring the bets efficiently & effectively.
As has been mentioned, bets are usually layered aggressively all the way through grids or a matrix type set up executed, managed & overseen by robots. You’ll never achieve the same results manually betting that type of approach, it’s nigh on impossible.
Some of these guys are scaling in & out of multiple positions quite frequently throughout a typical business cycle or session across several different grids, sometimes on the same pair or regional currency.
Seriously, you’re flogging a dead horse even attempting to replicate that type of approach via a manual set up. You’ll drive yourself crazy & empty your account in double quick time.
buy stop order at 1.68730 eur/nzd
Not a particularly pretty set up, but I believe longer term structure is still intact. SL at this time 1.6820 ; The whole outlook could change in the next few hours.
however later on today if it is not breaking below 1.6790 - i’ll likely try again.
It’s quite sloppy out there for this type of set up at the moment. Very stop-start.
If you flip through the regional currencies as a whole, the only real stand out trending ones are Canadian Dollar & Swiss Franc.
I’ve been focusing on those two currently & just waiting patiently to marry them up with corresponding pairs exhibiting likely breakout/pullback activity. Reasonably slow progress this month though, but then again probably par for the course considering time of year.
Eurnzd is offering up another possibility today.
The 4h chart is showing price at the flip level 1.675/1.68-
There’s possible entries down through the timeframes - 1h
5m-
If I was looking for an intraday bet I wouldn’t be taking this one as more than 65% of the ADR has already gone & the time of day, but as I’m using the longer timeframes (4h) as my background, I’ll look to take this and hold it.
The lack of market drivers for the next day or so though make me a bit wary - I’ll quickly close it if the price starts meandering too much.
so - update - I’ve added a bit to the accnt, so that it really ‘means’ something to me.
I feel I have a very tight ‘plan’ - however, I still feel like I don’t “get” the background info.
Please advise on : EURCAD - the next day or two.
I see on the daily t.f. a rather smooth ride for long entries for the past 30+ days.
I see on the 4 hr t.f. a hook - inline with what I would call a valid entry to try to get long (today)
However I did not get in long yet, I am waiting for tomorrow to see if on the 1 hr - it continues it’s bullish push - and appears to be ‘neat’ (If so then tomorrow I would be looking for a long via 15 or 5 min hook)
On the other hand - looking into recent activity - the previous 2 days - were showing signs of short? or simply a pullback?
So I also see and I did attempt a short on the EURJPY today.
But based upon Daily t.f. - this was a skittish idea.
Based on 4 hr - the last few days (I guess based on 1hr as well) have made a neat looking leg down - I attempted to get in on a 15 min hook -but too early in the day. In hindsight - the 1hr t.f. also hooked off the 80 level - this may or may not have gained a few pips depending on how a person ‘trades’
Huh - now that I inspect my entry - I blundered that - -according to my own rules. - -had I followed my rules, I would have gotten in about 1.3744 short with a stop at about 1.3770 - had I done this, I would have been stopped out at break even - on that little spike.
Not on my radar was the EUR/USD - but it performed nearly exactly like the EUR/JPY today.
based upon these three pairs - is my background look - ‘improving’ or still off kilter a bit?
