Daily Hi Lo

1.51 is a resistance, psych level, and 1.5094 is R2 pivot, so that is a pretty big barrier. I can’t see my charts right now because I’m out but I don’t think price will go above this point for now.

Thank you very much. d.

Hello Mike,

Now you’er talking. Hope I didn’t whack you over the head too hard but with your big number of posts and subsequent title you guys tend to draw a crowd of newbies. I’ve seen this happen on a few threads that I’ve brought down in the not so distant past. I have this thing about newbies as they tend to leap before they look especially if somebody they view as superior is saying the waters are safe. Even though you stated somewhere that this was just an idea they tend to only speed read over things. I hope you do use something more with this hi-low thingie as it will take you down the right path.

Happy quest,

Johnny

Do I Johnny. :confused: I have stated in many posts that I infact don’t use a conventional SL but rather an OMG stop of 200 pips.

I trade across all of the timeframes as I view them as truly one and the same. You trade only the higher timeframes and view the different timeframes as separate entities although if asked you would say they are all just the normal flow of things.

Do I Johnny. :confused: I have stated that I use the daily as an indication of a likely entry and fine tune that entry/ exit on the 1h chart.

Please correct me if I’m wrong but my belief is your vision is clouded by past learning experiences as are most traders. I have stated before that you cannot trade what you cannot see and you refuse to see the obvious.

I won’t argue with that. Yep its fair to say my decision making process is based on 30 years as an interbank trader. :slight_smile:

Like Mike you ask me to show you the money. I have but you refuse to see.

Johnny I was not requesting you show me how to trade but how to extract $25,000 per contract daily on GU without a huge account balance? You will recall your post stated we were all chumps for taking out $100 or $200 on daily trades when we could be taking $25k per contract. Neat trick without a huge account bal. :slight_smile:

The secret is in the vision of the market and the answer lies not with what you can see but what you cannot see.

Ah the [B]Force[/B]! Yes Mike and I have been trying to harness that for some months now but you need to be in the right frame of mind… I have been using 20 mins of Yoga in the morning, I find that helps alot.

Again we play this game Robert. It is now your move and I have you in check.

I’m duely impressed Johnny. I’d better go play snakes and ladders then.

well Johnny B just made one really GOOD point !

Just because I post a lot and might sound like I sometimes know what I’m doing… other noobies should definately do their due diligence and realize I’m still myself just a noob finding my way and not an expert showing the way.

so Caveat Emptor

and
Carpe Noctum! :smiley:

oh yeah and
Illigitimi non carborundum
or more correctly
Noli nothis permittere te terere
That one I had to look up! lol

Robert
you still ride a horse n buggy? Doesn’t your son ever let you ride in the Lamborghini ?

got 30 pips last night
and so much for the pundits including myself who though GU would go down!

May the force be with you ObiWan

I was thinking the same thing, Oh well. I did not trade according to what I [I]thought[/I] would happen. I just waited for the new pivots and set up limit orders accordingly, none were triggered yet and probably wont today.

Yep, price reversed where I thought it would again :p, close part at +30, market isnt really moving too fast.

I love the way I trade lol, its so simple :). I didn’t do the hilo breaks but I might soon, but I got my short in at 1.53

no trades for me last night or today. Missed my setups last night and just too busy today. I can see it would have been a good winner though!

TalonD
Did you have an idea about an stopp loss ?

Started out with reverse money management. 20take 40stop, you only have to get it right 50% of the time to break even and 75% to get ahead. I said early on that 55take seems to be about optimum but now I’m looking at support & resistance and pivots to give me a target for both take and stop. We’ll see how that turns out.

did you have mt4stats or something else what schows your statement?

One thing Ive noticed when trying my new trading plan, with includes a couple things from ICT is that after I find where Im going to place my trades (limits) Price then goes to one or the other, nearly every time. This is obvious, of course price has to go there in order to trigger my limit, but this is the cool part, these are almost always the correct spots for at least a 30 pip reversal if not a complete trend reversal like the long im still in from 1.48 on the G/U. Since Ive been covering it with shorts for small profits of 30-60 pips, and adding to it on valid long entries. BUT! now for the really cool part, if price almost always hits one of these reversals that means that if we could find a way to know which one of more likely we could enter into that direction, then close and reverse giving more pips. just some more ideas :stuck_out_tongue:

no, I’m using Oanda and I think you have to use metatrader for mt4stats don’t you? Anyway go back a few posts and you’ll see where I posted the results after a month. Not very impressive as I recall. But like I said this isn’t a trading strategy, just an idea to explore. And so far it’s made a little more than it’s lost.

how are you trading this? Can you give some details?

Just confluence of multiple forms of S/R. Each night at 12am est i get the new pviots, pick my buy and sell areas and place my limits, if i only knew which one it would hit lol

For today I placed a buy limit at 1.5193, and a sell limit at 1.5297, the S3 and R3 would also be great places for orders but probably too far for tomorrow to reach

I had my sell paced at about 1.5222 yesterday’s low. price reached my TP 30 pips away near s1. Had a 30 pip SL and price retraced 20 so just missed it by 10. :slight_smile:

Canceled the untrigered buy

I’m trying to figure this out. Are you sure you don’t have the buy and sell backwards?