Little and Often -
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thread: Little and Often

  1. #11
    Nothing triggered last installment...

    Here are the traps for tonight...

  2. #12
    Nothing triggered last night...

    Here are the traps for tonight...

  3. #13
    One snare triggered for a 50 pip reduction...

    Here are the traps for tonight...

  4. #14
    I've attached the maximum current chart setup that I use. This one shows the Euro as of 8/17/08. As you'll notice, I use multiple time frames (MTF) and take into account everything in the Weekly into the 15MIN time-frames (I can also switch into a Monthly on event ).

    I use Stoch's and RSI. I use Stoch's to show trend management and RSI to provide me an notion of just how much fuel is still left in the current fad. This is where the art form plays a part. I don't get the trend from one time-frame, instead I get the trend out of seeing the smaller slices of most of them in the same moment. This is rather difficult to describe and I would recommend you experience it if you haven't yet. No matter utilizing MTF in this manner has shown highly accurate for both trending.

    On the actual price charts, I use 3 moving averages. A 4, 13 plus a 50. The lines are the 50, the most skinny is the 4.

    Here's the general idea...

    In this event the charts show that the chances are the Euro is headed south. The goal is to start a few trades during any recovery periods, but only where the most profitable possible would be. The point where the MA's come in, this is.

    Together with the trend being DOWN (and RSI still signaling there is time left) I would seem to place SELL orders only. About 10pm EST I'll take a look at the MA's across each of the time-frames and I'll get those that coincide with one another.

    For instance, utilizing the attached pic, the MA's of those 4H and 1HR both show around 1.4700 (about the 4H, it's the 4-Day MA about the 1HR it's the 13-Day MA). The further MA's that match the more powerful the SELL order in the point as it shows a more powerful resistance level.

    I would place a SELL LIMIT order at 1.4700 using a S/L of 50 pips (1.4750).

    Then I sleep soundly. At the morning (6am) I close some open trades and cancel any that haven't been triggered.

    In a sense, it's like trapping. I set the traps at which I anticipate the best deals will be and if the pips walk into them the traps are sprung. If the movement is too strong the cubes automatically lets the pips out (after a 50 pip reduction ). Otherwise, it contains them until I check the traps and accumulate any pips that are in them.

    I really do this with 7 pairs, however, will only put 3-5 cubes a night depending on the setups I see. (In real trading, this installment is not robust and I would search for a better one). Fairly often I find none of the trade setups were triggered, but then... that's the idea. The machine is created to save my funds, enlarge it or limit losses . In that way there is only a 33% probability of reduction, a 33% probability of profit and a 33% probability of remaining even.

    There's no cause for the 10pm and 6am times other that I sleep soundly during this time. I love the notion of a system that does not need me to stare at it! I believe the very same theories work throughout the day, but my day job precludes me from analyzing this.

    I am interested in any thoughts...

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