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  1. #11
    Active Member Ingmar's Avatar
    Hey Mike,

    I think my confidence comes from experience with the 1m expiry trading i did (broker strategy) I've been looking at 1m charts a lot and i guess i got used to it. I feel less confident with longer expiries. (i also got used to loosing and now a loosing trade doesn't really affect me anymore, so that helps as well i reckon HAHA)

    What i find is when i look at 5 min tf or even higher, i see in my mind all those S/R areas that are visible on the lower tf but not on the higher ones. It makes me unsure about expiry times. What if i choose 2 candles and it takes 1 candle to mess around a price action area i can only see on the 1m chart? It messes with my judgement.

    However, i guess the same goes for 30s charts (or even up to 5s which my broker offers as well)

    In the end i doubt it really matters. Even though people say 1 min has too much noise, I grew fond of the noise and to me it doesn't look/feel like noise at all.

    Perhaps we should do some trading together :-)

    best of luck mate!

  2. #12
    Active Member Ingmar's Avatar
    I posted this as a response in Mick's diary but figured it perfectly belongs in my diary as well.

    :-) practice, practice, rinse and repeat.

    I just watched a video about candlesticks where a candle was referred as a universe within a universe. A trending upward market that pulls back, goes up high and pulls back again towards opening level looks like a doji if represented by one candle. it opened my eyes regarding my learning journey. First i accumulated so much info (candles) that i felt overwhelmed and confused. One needs to remember so much! Then it starts to integrate and all that info turns into one candle without losing it's information. (and the next 'candles' (info) present themselves LOL)

    Instead of learning things and forgetting the latter when learning new things, i feel like i have to transcend what i've learned and INCLUDE it in the bigger whole. Transcend and include, transcend and include :-) (trend within trend, a universe within a universe)

    LOOONG way to go.

  3. #13
    Senior Member Mick's Avatar
    Quote Originally Posted by Ingmar View Post
    I posted this as a response in Mick's diary but figured it perfectly belongs in my diary as well.

    :-) practice, practice, rinse and repeat.

    I just watched a video about candlesticks where a candle was referred as a universe within a universe. A trending upward market that pulls back, goes up high and pulls back again towards opening level looks like a doji if represented by one candle. it opened my eyes regarding my learning journey. First i accumulated so much info (candles) that i felt overwhelmed and confused. One needs to remember so much! Then it starts to integrate and all that info turns into one candle without losing it's information. (and the next 'candles' (info) present themselves LOL)

    Instead of learning things and forgetting the latter when learning new things, i feel like i have to transcend what i've learned and INCLUDE it in the bigger whole. Transcend and include, transcend and include :-) (trend within trend, a universe within a universe)

    LOOONG way to go.
    Hmmmmmm that's a different way to put it but it does make a lot of sense. I like it.

  4. #14
    Active Member Ingmar's Avatar
    Dear diary,

    Great day to trade short term today! I made 30 trades with 3 OTM and even snuck in a few with longer expiries! Getting more confident in that as well.

    I won't post all of them off course but there's one in particular i made together with Okane. Iposted this in the skype group journal as well, so if you already read that you can skip ahead :-)

    I'm using a short expiry, Okane a somewhat longer one. Okane, pro like he is, even bought a put option towards his target before taking a long position. I did not specifically drew that target, i waited for the bears to exhaust themselves before i wanted to join the buyers. Our entries for our calls differed a little as well. Two profitable ways to exploit a similar target setup :-)

    First, here's what Okane signalled in the skype channel:

    http://prnt.sc/f098z6

    Here's where he showed his put entry towards his target. Notice the arrow showing the EMA joining his target.

    http://prnt.sc/f09b59

    He's basically showing the group a signal on a gold platter lol.

    This is how i took the trade. I was a bit hesitant to take the call on that high volume candle (that, i bet, kissed Okane's target :-) )because of the trendline i had close above it and i was waiting for the bears to get exhausted. You can see i stepped in right with the bulls high volume candle for a short expiry with that trendline as target. (i did draw the lower shorter horizontal line when the sellers were exhausted.)

    http://prnt.sc/f09jrw


    This was Okane's call.

    http://prnt.sc/f09ifm

    He entered before me and exited later :-)

    When i saw how price behaved around my trendlines after the trade, i decided to surf down on it with a loud YIHAAA during a two minute drop.

    http://prnt.sc/f09n7l

    and i called it again, i love trading using trendlines :-)

    http://prnt.sc/f09q65

    so that was close. I realized it was due to my inflated confidence and decided to leave the UJ for a bit.



    Below is a longer expiry trade i took on the EUR/AUD pair. I actually took the 30min trade based on higher timeframes as well looking at different candle shapes. (universe within a universe) I was a bit worried that that resistline might not hold and checked the lower timeframe. When i saw that bearish candle close like it did i decided to sneak in a little 2 min trade and surf it down like a cheeky bastard lol.

    The two minute trade expired 1 candle before the 30min trade. 2 ITMs :-)

    http://prnt.sc/f09ai2

    The next trade i would like to show is a weird one. I have been looking at candles differently. Recently i recommended a video to Iwan who also just started his diary and is part of the skype live trading group. In this video is explained how to look at the bigger picture by imagining the candles within the candles.

    On this trade i noticed a nice engulfing bearish candle but it had not yet reached my line but it was reaching overbought on the stoch. I imagined how it would look like on a higher timefrime. I took the two candles in mind and imagined the price starting and continuing in 1 candle till it's closing price on the second candle. It looked like a nice bearish red pinbar. Since this would have been on a 2 min timeframe and because price had some room to go up on the 1m timeframe i chose a 4min expiry.

    http://prnt.sc/f08qpx

    It was an exciting trade to watch i can tell. I think even if it had continued right down after that bearish candle it would have bounced back up and i would have been just as 'nervous' with my 4 min expiry haha.

    Anyways, it worked out nicely :-)
    Last edited by Ingmar; Yesterday at 07:02 PM.

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