If you know what you are doing even 3 pips of profit is enough!
In side-way trend you can take 3pips of profit ten times in a row = 30 pips or 30 pips at once!
What is the difference???
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If you know what you are doing even 3 pips of profit is enough!
In side-way trend you can take 3pips of profit ten times in a row = 30 pips or 30 pips at once!
What is the difference???
trendie
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ok. will accept that pending me defining a rule-set with stops, etc.
there are clearly dead-times, since over on the "live calls" thread, the activity seeks to jump onto the direction as sessional openings, etc, and seem to stay away from about 11am.
actually, we're having a hard-time of it precisely because of the lack of direction / low volatility.
trendie
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you would first need to define your grid levels, ie, sup/res, and then start to fade the Res and fade the Sup.
but, would you not need confirmation, ie, see your Sup and Res being tested first, to confirm you have found the true Res and Sup?
Buy the Sup and Sell the Res.
We would define step after facts!
trendie
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You cant know that for sure.
The market has 3 states: Up, Down and Sideways.
After an Uptrend, the market could:
continue Up (ie, it was a breather)
go Sideways (congestion and indecision before move)
go Down (quick reversal)
Just because the market has gone Up, then goes Sideways, doesnt mean it will next go Down. It may take a Sideways breather and continue on Up.
Perhaps what you may be alluding to is that in dead-times, the market may retrace the initial move, while waiting for the next impulse, perhaps?
You say:
It may take a Sideways breather and continue on Up. (we know the TIME when can start to go UP)
EXAMPLE 1:
Let's suppose that I open SELL grid order after UPTREND and there is SIDE-WAY trend.
Take profit is set to 3 pips. I will take 3 pips of profit x X times = Y pips of profit.
EXAMPLE 2:
Let's suppose that I open SELL grid order after UPTREND and there is DOWNTREND.
Take profit is set to 3 pips. I will take 3 pips of profit and it's over for that day!
What do you think of this examples? (just examples)
trendie
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without knowing how much of a drawdown/stoploss you're willing to take, I have no context to think of its usefulness.
I will tell you one fact: EUR/USD has never made 100pips move (except GAP at week opening). Try to think in that direction!
trendie
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ok, interesting.
We also need to see how many times it travels in this 100 pip range.
Once up and partly down, then out of range is no good.
It needs to bounce around in that range a number of times to squeeze most out of the grid.
Thats a weekend task for me.
Don't trade with fixed step grid! Just say to yourself : averaging must not be lower than 30 pips. Analyze with charts like 1min, 5min,15 min. Use Bolinger Bands to detect volatility.
Use Stochastic for overbought and oversold areas in time. Check for Divergence on MACD.
You will find intra-day trend on 5min and 15 min charts.
There are certain traps that you can avoid easily! Always check 1month,wekle,daily,4h,1h,30min charts. Check if there are certain break trough points and in which direction they a turned to. Especially if monthly chart is in a extreme position (round 1000 pips near all-time HIGH or LOW). Danger is that price could bounce if it is near break trough line.
Intra-day trend should be in opposite direction of break trough direction so you would trade in a direction of a break trough long term strategy. If it's opposite: STAY A SIDE!
Intra-day trend should be in opposite direction of break trough direction so you would trade in a direction of a break trough long term strategy. If it's opposite: STAY A SIDE!
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For EUR/USD If there is strong intraday trend and it is 2 hours before session closing then price must be in range 20 pips to daily high or low to make decision of entry into the position.
You must close all your positions 4 hours before London opening.
I never wait for that hour to come! I trade only for two or three (average) hours!
Leverage is set to 1PIP= 0,1%
You must close all your positions 4 hours before London opening.
I never wait for that hour to come! I trade only for two or three (average) hours!
Leverage is set to 1PIP= 0,1%
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trendie
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lots of stuff to think about.
its certainly a step away from the grid-trading that other forums write about.
always felt they were abdicating the need to understand directional bias, or optimal entries, and were totally relying on chaos within a range for their profits. these profits, always seem illusory, since they seemed to be carrying a high amount of liability. the classic "picking nickels from in front of a steamroller". eventually, they were going to blow their accounts.
the way you describe it is simply the opposite of what I do.
I actively seek direction, seek out high volatility, and seek out ranges to break whenever there is no obvious trend.
the reason is: the universe of price possibilities is much greater outside the range than inside the range!!
a range is finite. a breakout is potentially infinite!
its all about mindset.
its certainly a step away from the grid-trading that other forums write about.
always felt they were abdicating the need to understand directional bias, or optimal entries, and were totally relying on chaos within a range for their profits. these profits, always seem illusory, since they seemed to be carrying a high amount of liability. the classic "picking nickels from in front of a steamroller". eventually, they were going to blow their accounts.
the way you describe it is simply the opposite of what I do.
I actively seek direction, seek out high volatility, and seek out ranges to break whenever there is no obvious trend.
the reason is: the universe of price possibilities is much greater outside the range than inside the range!!
a range is finite. a breakout is potentially infinite!
its all about mindset.
trendie
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the kinds of grids I am looking to test are those which are large scale, since I thought the whole point of grids was to ride out and make money out of wiggles.
the ones I am looking to replicate are the set-size ones. but I cant get past the idea of the futility of closing a position after X pips, and immediately opening up another one. just the admin of extra transactions for just no real purpose.
I think the principle of grids, is to ride out losing trades until they come good. (or average them out until you can nett them off as an aggregate)
As well as having no definable direction. That is, you can draw a zero-point baseline, and you just above, and sell below. as opposed to sell above and buy below, which appears to me to be counter-intuitive, as I feel as if I am trying to tie price down to an arbitrary price point, "just for me".
the market is the market, it will do whatever she sees fit. not for me to ring fence her in.
the ones I am looking to replicate are the set-size ones. but I cant get past the idea of the futility of closing a position after X pips, and immediately opening up another one. just the admin of extra transactions for just no real purpose.
I think the principle of grids, is to ride out losing trades until they come good. (or average them out until you can nett them off as an aggregate)
As well as having no definable direction. That is, you can draw a zero-point baseline, and you just above, and sell below. as opposed to sell above and buy below, which appears to me to be counter-intuitive, as I feel as if I am trying to tie price down to an arbitrary price point, "just for me".
the market is the market, it will do whatever she sees fit. not for me to ring fence her in.
