hey,
yes it does 
i like to share my ideas and see other ones, so I can compare and see how well I do with defining setups. It shows me that Iāve trained my eye to spot the right environment for a trade Allthough there are still mistakes, but most of the time I can find the failure by myself and in myself after looking over a done trading week again.
greetings and good luck this week
Calculate them using the Pivot Point calculator on the first page of the threadā¦it will only take 10 minutes to calc. & draw them on, and as it is once a week (or once a month for Monthly Pivots) itās no big deal.
Took 15 pips from EU at 22:00 BST last night with the Sunday gap trade. Quite high leverage so this equated to 1% in a 1:1 trade. Thatās two for two on the Sunday gapper and a nice way to start the week.
Buy at 4279, sold at 4294
On a totally unrealated note I canāt use Babypips with Firefox atm as it just redirects me to some Yahoo jive site. No biggy as ye olde explorer is ok but anyone else having issues?
My Firefox is fine but i havenāt upgraded yet to 4.01, Im still using 3.6 so if you did upgrade maybe itās a bug.
Wally
p.s. I took a fiber long on the OTE LO at 1.42010 first Tp hit at 1.42530 and the CP coming up to second Tp 1.43200 MR1+figure+PDH so also having a good start
I got a nice LO OTE fiber for 118pip run today and ICT wants a report :17: so here goes:
This wasnāt a beautiful top-down watching for S&R trade like Aliās but a combo fundamental/technical trade with a bit of luck thrown in.
Thought process:
Fundies had the Euro union saying they wonāt let Greece go under so no reason for weakness there and the run up on the USD should see a bit of a retrace (I recond anyway).
Technicals had me thinking today would be a Pivot trading day and not a Trend day so I waited for LO to form a low ( or a high if it wanted but was looking for a low ).
Iāve marked on the chart something Iāve noticed alot lately and thats price will leave the Asian range and then come back into it or bounce off the Asia H/L, Iām starting to think this might be important.
Anyway I got the OTE on LO at the figure and MS1 1/2, 2 lots, tp1 off before the CPP and Asian Low for 52 pips, tp2 off before PDH and MR1 for 118 pips. :51:
image upload
Wally
I noticed some time ago that you had a hold on the Asian session, but when I searched out the info from ICTās videos, I couldnāt find anything more than the range being key S&R. Is there more?
Did the fact that price went back into the Asian range help with your entry at LO today? You say you thought it wasnāt a trend trade dayā¦because the trend had been going down through late New York and Asia? But I did see it as a trend trade day on H1. The low was put in the day before yesterday with higher lows and higher highs yesterday. Support at the figure, and up she goes for another leg!
Regards
Ali
I took the same trade, but I had to go und set my SL that Iām in profit with 7 pips because I took off 25% at 30 pips and in summary that would have been 15 pips for me hehe. If I stuck to the rules and moved SL to breakeven at 30 pips profit, I would have caught the OTE in NYO Killzone, but this way I got stopped just because of 0.6 pips hehe. Crappy SL should trigger with close of 15min candle 
But it doesnāt matter, 15 pips are still profitable and Iāll watch how the setups for NYC will go down
Another reason to take the trade in LO was the resistance USDX had and the support were EURX bounced off. There were also oppurtunities for an OTE on these.
greetings
MCA yup downloaded (or whatever) firefox 4.something and itās been bad news since. My intelect issues prevent me from sorting this but Iāll see if I can get my bro to change me back.
Ali I remember ICT agreeing with me, well waiting for me to figure it out and voice it, that the Asian range can act as an anchor for the day in ranging markets, this was in a random chat when he popped up. I wish we could get those chats in the PTC.
Damn Ali, we took the same trade! and Iām man enough to admit you did a better job of it than me. 6220 was my original target, but I scaled out the 70% that was left (took 30% off like you at 30pips) at 6190 (MR1) and 6200 (figure). Done for the week. Well Done on your part!
How did you manage the LO trade? Pending orders or you doing some schedule shuffling? lol
Haha! Well I am man enough to admit that this was executed in my demo account and therefore, psychologically speaking, it was easy for me to reach for the 6220 number :53:
For future reference, I take Sunday and Monday as my weekend so I [B]can[/B] be in front of the screens on Monday. I can also be in front of the screens until about 30 minutes before London Open Kill Zone on other days of the week, which is why I am considering making some pending orders (but strictly on demo for the time being). I did try it before, but I donāt like the fact that I canāt see smaller OTE swings set up real time, and I canāt get a handle on SMT. Yesterdayās trade would have been fine though - OTE from PDL, and I discounted SMT.
I have been in front of my screens for 95% of all my trades to date, and I have managed TP manually. What I am interested in is how you guys manage your LO trades when it goes through the night. What I am guessing is that you put on the trade, stay awake for the first TP at 30 pips, and then make your second SL at BE an OCO order which is coupled with 2nd TP. This would work for āDouble Tapā, and it should also work for scaling over two points (OCO orders which are both coupled with SL?)
I will be looking to take some LO trades next month when I am in Canada, and that is the reason for my interest. The only problem is that my Tokyo broker doesnāt support OCO orders. I guess in this case I need to split the order at first entry, close out the whole of one position at 30 pips, and make the second order a straight SL/TP2 āDouble Tapā trade, as has been suggested. If I am unhappy reaching for higher objectives with the potential for them not to be reached, I could apply a trailing stop, right?
Does OANDA support OCO orders? I would like to use them in the future. Lots of questions, but most of them are just me thinking aloud! (I hope that you will answer ones where I have made a glaringly obvious mistake though:51:)
Regards
P.S. The super duper Fiber trade from last weekā¦I said it was something like 6.4R, but it obviously[B] would not[/B] have been that if you had scaled out. That was probably just a bit of slick marketing on my behalf:8:
P.P.S Clark and I have agreed on some [B]longer term[/B] objectives for our trading: 3.75R a week! That would be 1 London Open trade (2.5R), and 1 London Close trade (1.25R) per week. I have achieved the second part consistently over the last 3 months, so it is now time to buckle down and see which platforms the London Express departs from. A slight deviation from my original plan, but I have come to the conclusion that my time is probably better spent analyzing the bigger trades than trying to perfect the little scalps :57:
I wonder if you could go into more detail? Do you mean that the market has been ranging over several days and if the Asian range is at the bottom of this range, it is probably the low of the day? Or maybe you mean that the dayās price will oscillate around the Asian rangeā¦
I look for a reasonable Asian range 40-50 pip on fiber and 30-40pip cable and using the first 6 hours as Asia then mark off the levels as ICT showed of the candle bodies. This then is a bit of a pivot area for the rest of the day, price can react to this whole area in some way ie. Highs/Lows, come into the range and turn, so on.
The reason I only use the first 6 hours is that when Europe opens it tends to leave the range then London will head back towards it and can either bounce at the level or drill into the middle of the level and turn away back the way it came and yes it can just blow straight on though too but I think all these conditions have a meaning for the upcoming session.
I am continuing to study this perticular area and will keep everyone informed if I find anything useful.
As for the Pivot day or Trend day, I just figured it was going to be a small - normal range day (proved wrong) and would proberbly make a LO Low then go to pivot high. The USDX looked like it wanted a rest so Stronger EURO Weaker USD. And a bit of Long term S&R form Nov 2010 on the D1. "shrug!"
I did say there was a bit of luck involved. lol
Wally
Yeah, I just canāt do demo trading. I can do Penny or Dime pips, but if thereās nothing on the line, I just canāt get into it enough to do the analysis. I already believe the methods work, so really the only challenge is tackling the psychological obstacles in real-time over long periods of time, and demo canāt help me do that. all my opinion of course. I havenāt demo traded since 2007, and that might actually sound cool if I wasnāt down $14,000 in this game, hahaha!
As for managing LO tradesā¦well thatās a pickle. I canāt nail down a consistent style for you because it depends on how late I can stay up. some nights Iām just beat and go to bed right after the trade is open and hope my pending orders catch the move for me. This means I go to bed without setting stop at B/E usually, which is the greatest flaw, but sleep is sleep and so far it hasnāt been a major problem. However I am up at/shortly after NY open and will trail up stops and adjust targets THEN.
I will split the trade position into 2 or 3 (sometimes 4) separate trades. something like " 2 X 0.5 " or " 3 X 0.3 ". Letās say I chose the 2x0.5 option, and then wanted to close 0.3 of the trade, I would have to set a pending order, because the T/P function on Oanda would close the whole 0.5 lot. That pending order, in the event that my S/L gets hit first, will have itās own Stop Loss of a few pips. That is because I donāt want an unprotected position (even if itās only a 0.3 lot), and losing a few pips in that event is worth it IMO. To date however, this has never actually happened. Usually if my stop gets hit on a LO trade, the direction for the day is that way, and not towards the pending order at +30 pips.
Best I could do Ali, if I could do this F/T, there would be much more emphasis on trailing up stops, but I do the best with what I got. Considering I work at 8am my time, and London Open is 1am, I think Iām doing pretty good, lol!!
I still think itās awesome that youāre moving to Canada (and from Japan no less). Your London Open will be Midnight, thatās pretty cool, and easy to remember 
Lol, I have never previously thought that my postcode might lend straight-talking weight to my advice!
Anyway, thank you very much for the kind words, but I just pointed out something that has been said on here previously and becomes increasingly obvious with time - once the strategy is good, mechanical execution is all there is to it.
Looks like you took a very neat trade. There is always a little luck in there, there will always be trades where a pip or two one way or another can turn out to be good news or bad news, but I find that it evens out over time. You are quite right - waking up in the morning to find that you made money while you slept takes some beating.
Thank you again for the feedback.
ST
Just stealing a few minutes away from work to read your post! Thanks for the reply. I understand what you are saying with your order system. Basically it comes down to breaking orders, and that is fine with me. I think what I will do it set the first half of my order to 30 pips TP and SL respectively, and have the second order trail the 30 pip SL right up to my final TP Limit. Iāll have to look into the trailing stop a bit more, but yesterday it would have been safe all the way to final TP. If there is more volatility then that could be a problem.
Regarding Canadaā¦I should stop talking about it because my visa hasnāt gone through yet! They may well decide that they donāt want meā¦well at least not until I have the Forex millions in my pocket
Wait, AK, you and I both live in Alberta right? Iāve always been trading the LO on midnightsā¦ Hmm, am I doing something wrongā¦ Lolā¦
Clark, I apologize for butting in here, but maybe I can help you.
Iām pretty good at time zones and time conversions, soā¦
ā¢ Midnight (NY) = [B]10pm (Alberta) ā ICT daily pivots begin[/B]
ā¢ 8am (Europe) = 2am (NY) = [B]midnight (Alberta) ā Frankfurt/Zurich/Paris open*[/B]
ā¢ 8am (London) = 3am (NY) = [B]1am (Alberta) ā London opens*[/B]
ā¢ 8am (NY) = [B]6am (Alberta) ā New York opens[/B]
ā¢ 5pm (Europe) = 11am (NY) = [B]9am (Alberta) ā Frankfurt/Zurich/Paris close*[/B]
ā¢ 5pm (London) = noon (NY) = [B]10am (Alberta) ā London closes*[/B]
ā¢ 5pm (NY) = [B]3pm (Alberta) ā New York closes[/B]
For your reference:
Your time zone is MDT (Mountain Daylight Time) = GMT - 6 hours.
New York is EDT (Eastern Daylight Time) = GMT - 4 hours.
London is BST (British Summer Time) = GMT + 1 hour.
Europe is CEST (Central European Summer Time) = GMT + 2 hours.
When Europe and the U.K. return to Standard Time on October 30, the times marked by asterisks (above) will change by one hour for one week. Then, when the U.S. and Canada return to Standard Time on November 6, those times will again be as shown above.
I hope that helps.
Well my LO [B]killzone[/B] starts at midnight, but the actual London Open is 1am. Like Clint shows above ^^^
For the record, I hate automatically trailed stops, and I will never use them. I like to put my stop 5-10pips behind one of the following:
and I would be very angry if they didnāt give you your visa! I would have to write my MP a strongly worded letter, because Iāve never done that and apparently they read them, ha! Good luck tho :41:
Edit:
I also wanted to get something out there about trailing stops to B/E. Most new traders learn that concept and they abuse it IMO. Theyāll move stops to B/E out of FEAR that their winner will turn to a loser, and while it limits risk, it also erodes reward potential as well. and itās not like your entry point (B/E) is automatically a good S/R level to hide a stop. The market doesnāt know where you entered and it doesnāt care. If I can move my stop to -5pips risk and have it be behind a significant level, Iād much prefer that to setting it at B/E automatically and having it be vulnerable. The 5 pips aināt going to kill me, and if the significant level breaks down, then itās likely heading more than 5pips against me anyway. The same could be said for setting it to +5, or +10. No use setting it to B/E (out of habit/laziness) if you can secure a few more pips and have it in a āsafeā location still.
well that was clearly a rant, but I hope it opens some eyesā¦
