All three winners were with my "back to basics" method of watching the %R crossing the -50. 5 min charts. I look forward to Friday morning. I got momentum today, and then it was time to go to work. Oh the joy!
Timing of the strike price is crucial when trading with expiry times under 10 minutes. This morning's first trade hesitated it's drop in price just long enough to make me lose. I watched for a minute or so, in disbelief, and reentered the exact same trade, and won. Now, this was not a revenge trade, it was just proof to myself that I was on the right track.
Started the week off with a win! I watched for the %R cross, and s/r levels, and entered the trade when price broke through .9200. The red line is my entry price. Sep 09, 00:03:13 AUD/USD 0.92002 0.91962 Sep 09, 00:10:00 $1.00 70% $1.70 ➕
Tuesday was good to me. 3 out of 4 winners. And the 1 loss was very, very close. Almost 4 for 4 today. Here is the one and only trade I lost today... Sep 10, 06:34:18 EUR/USD 1.32437 1.32434 Sep 10, 06:40:00 $2.00 70% $3.40 ➖
I had time for one nice win today. I watched as price bounced off the Fibonacci level, and the %R was just getting ready to cross the -50. Sep 11, 06:44:07 AUD/USD 0.93069 0.93064 Sep 11, 06:50:00 $5.00 90% $9.50 ➕
Friday morning ITM. I've been getting sidetracked lately with trading videos, and have been taking less trades. The %R still shows valid trade signals for short term trades as seen in this AUD/JPY chart...you can see price hesitation at the 92.1600 level, but the %R had enough momentum to cruise down over the -50, so I planned on price dropping across 92.1600, no problem. Have a great weekend!
Sticking to mainly the 5-minute chart? If so, do you feel that that's working better for you?
These trades are all with the 5 min charts, but this coming week, I plan on 1 hour and 4 hour chart trade set ups. I will be working with longer expiry times,too. I will be trading on Nadex.
These trades are all with the 5 min charts, but this coming week, I plan on 1 hour and 4 hour chart trade set ups. I will be working with longer expiry times,too. I will be trading on Nadex.
Sounds good. You should be getting better trade signals on the higher time compressions, but the downside is that there will be fewer of them and it might consume even more of your time.
I entered a longer trade tonight. I will check it in the morning. The %R is crossing up over the -50 on the 1 hr chart. I am looking for a 20 pip move,at least. I am going through a little bit of a transition period this week, but plan on figuring out screen shots from my Nadex account.
My long term trade I entered last night worked out great! I entered the trade at 92.45 ( green arrow, green horizontal line), and when I got up this morning, it was at 92.61 and I closed the trade (red arrow, red horizontal line). As you can see in the chart, I entered when the %R first started to cross the -50. I went to bed. Overnight, the %R bounced off the -50, but came back after just a few hours and a bullish trend kicked in while the %R flew right past the -50. Having the ability to close trades when you are in profit is a welcome change from my previous broker. If I was fulltime trading at home, I could have monitored this trade and collected more pips as it climbed, but I had to head to the job, and closed out with a profit.
I am going through a big learning curve looking at higher timeframe trades. This is the 1hr. I am currently watching for this reversal off of the 61.8 fib. It has a lot of room to drop if a bear trend kicks in here... If I do take this trade, I want to be out before the CAD news release at 8:30 am EST tomorrow morning.
continuing my chart observation from yesterday, you will see I could have made some pips over the following 4 hours. After that, my %R bounced off the -50, and price marched up. I never did enter the trade. I actually tried to do a straddle trade on news instead. Lost. Nadex is a lot more complex than other brokers. I have some homework to do over the weekend! Have a good one everyone!
Before I fell asleep last night, I had an epiphany; just trade the 5 min reversals that I started this thread with originally. Going with Nadex, and having so many options, I felt like I needed to change everything. But really, the best thing is the time factor I will now have in my 5 min chart trading. Often times, I would be off in my strike price by one or two candles. My trade would expire and then price would commence the reversal that I had tried to catch, but missed. NOW, with Nadex, I can hold onto my trade for the extra 5, 10, 15 or 20 minutes longer, to catch the moves I think are coming. And the true beauty is being able to close out my position when I get to a nice profit level. I do not have to wait until it expires.
I know this is not a pretty image. I still can't figure out exactly how to save images of my nadex screen. This is from my demo account. I was doing a strategy called premium collection. Anyone interested in the finer details of that strategy can find it on youtube. I just wanted to journal my 3 winners today. This is the first Nadex strategy that I am having success with.
I realize a couple of days ago I had planned on trading the 5 min charts like I did on Marketsworld. I think I can do something close to that, but Nadex is very technical to use. So, I did 2 more premium collection trades, like yesterday. And I won both. In the charts, the 11 pm candle needed to close below the strike indicated by the red line and arrow.
Now this next bugger, same set up, but the candle I needed to close below the red line turned green and closed above the line. I lost the trade, and then the very next candle dropped right back down and continued dropping. Dirty dog!
Starting the weekend off with a nice win on USD/CAD. I could've grabbed 2 or 3 more wins on this move as it dropped through minor support levels on its way down towards the daily pivot level.
I started trading live $ on MW again. I had 1 win and 1 loss tonight. Let's get the loser out of the way first...
Oct 01, 21:45:47 USD/JPY 97.882 97.920 Oct 01, 21:55:00 $1.00 70% $1.70 On this trade, I entered on a support level break only. The closing candle for my trade rallied and I lost. The candles following that one resumed the down trend. I was on the right track. I just needed a longer expiry time. I used a longer option in the next example.
I was on the 30 min chart on this trade. I took an identical trade on my spot Forex account for a nice +20 pips. The %R was dropping across -50, and the price fell the way I had expected. Oct 01, 21:54:56 AUD/JPY 91.7555 91.6515 Oct 01, 22:30:00 $3.00 70% $5.10
2 for 2 today. The second trade was most impressive. It won by A LOT!
First is a trade on USD/JPY. The price broke down through support, %R was dropping, and I took the trade. The candle hesitated falling for a few minutes, but dropped low enough to give me a win. Oct 02, 21:56:19 USD/JPY 97.578 97.576 Oct 02, 22:05:00 $4.00 72% $6.88
Comments
Sep 05, 06:59:11 USD/JPY 99.895 99.914 Sep 05, 07:05:00 $1.00 70% $1.70 ➖
Sep 05, 07:10:24 USD/JPY 99.880 99.857 Sep 05, 07:20:00 $1.00 70% $1.70 ➕
Sep 05, 07:13:02 AUD/JPY 91.3590 91.2585 Sep 05, 07:20:00 $1.00 72% $1.72 ➕
Sep 05, 07:39:52 USD/CAD 1.04900 1.04851 Sep 05, 07:45:00 $2.00 70% $3.40 ➕
All three winners were with my "back to basics" method of watching the %R crossing the -50. 5 min charts. I look forward to Friday morning. I got momentum today, and then it was time to go to work. Oh the joy!
OTM...
ITM
Sep 09, 00:03:13 AUD/USD 0.92002 0.91962 Sep 09, 00:10:00 $1.00 70% $1.70 ➕
Here is the one and only trade I lost today...
Sep 10, 06:34:18 EUR/USD 1.32437 1.32434 Sep 10, 06:40:00 $2.00 70% $3.40 ➖
Sep 10, 06:34:30 EUR/GBP 0.84311 0.84317 Sep 10, 06:40:00 $2.00 70% $3.40 ➕
Sep 10, 06:59:21 EUR/USD 1.32444 1.32416 Sep 10, 07:05:00 $4.87 85% $9.01 ➕
Sep 10, 07:31:37 EUR/USD 1.32445 1.32402 Sep 10, 07:40:00 $3.00 81% $5.43 ➕
Happy Trading !!
Sep 11, 06:44:07 AUD/USD 0.93069 0.93064 Sep 11, 06:50:00 $5.00 90% $9.50 ➕
I simply followed the %R crossing up over the -50 line to catch this winner. Strike price indicated by the green line.
I am going through a little bit of a transition period this week, but plan on figuring out screen shots from my Nadex account.
I am going through a big learning curve looking at higher timeframe trades. This is the 1hr. I am currently watching for this reversal off of the 61.8 fib. It has a lot of room to drop if a bear trend kicks in here...
If I do take this trade, I want to be out before the CAD news release at 8:30 am EST tomorrow morning.
Have a good one everyone!
Buy 09/24/13 22:23:51 1 USD/JPY >98.60 (11PM) @ 84 $-84.00
Fee Payment 09/24/13 22:23:51 1 USD/JPY >98.60 (11PM) @ 84 $-0.90
Sell 09/24/13 22:26:44 1 EUR/JPY >133.00 (11PM) @ 31.5 $-68.50
Fee Payment 09/24/13 22:26:44 1 EUR/JPY >133.00 (11PM) @ 31.5 $-0.90
Sell 09/24/13 22:27:36 1 GBP/USD >1.6000 (11PM) @ 19 $-81.00
Fee Payment 09/24/13 22:27:36 1 GBP/USD >1.6000 (11PM) @ 19 $-0.90
Settlement Payout 09/24/13 23:00:02 1 SHORT EUR/JPY >133.00 (11PM) @ 31.5 $100.00
Fee Payment 09/24/13 23:00:02 Expiration Fee: 1 SHORT EUR/JPY >133.00 (11PM) @ 31.5 $-0.90
Settlement Payout 09/24/13 23:00:08 1 LONG USD/JPY >98.60 (11PM) @ 84 $100.00
Fee Payment 09/24/13 23:00:08 Expiration Fee: 1 LONG USD/JPY >98.60 (11PM) @ 84 $-0.90
Settlement Payout 09/24/13 23:00:11 1 SHORT GBP/USD >1.6000 (11PM) @ 19 $100.00
Fee Payment 09/24/13 23:00:11 Expiration Fee: 1 SHORT GBP/USD >1.6000 (11PM) @ 19 $-0.90
I know this is not a pretty image. I still can't figure out exactly how to save images of my nadex screen. This is from my demo account. I was doing a strategy called premium collection. Anyone interested in the finer details of that strategy can find it on youtube. I just wanted to journal my 3 winners today. This is the first Nadex strategy that I am having success with.
One winner, and one very tricky loser...
Sep 26, 21:26:57 AUD/JPY 92.5925 92.5880 Sep 26, 21:35:00 ¢10.00 70% ¢17.00
I jumped in at the red arrow. Strike price is the red line. %R dropped across the -50. Winner.
Sep 26, 21:28:53 AUD/USD 0.93621 0.93624 Sep 26, 21:35:00 ¢10.00 72% ¢17.20 ... loser by 3 pips!
Sep 27, 07:19:27 USD/CAD 1.03260 1.03256 Sep 27, 07:25:00 ¢10.00 75% ¢17.50
Let's get the loser out of the way first...
Oct 01, 21:45:47 USD/JPY 97.882 97.920 Oct 01, 21:55:00 $1.00 70% $1.70
On this trade, I entered on a support level break only. The closing candle for my trade rallied and I lost. The candles following that one resumed the down trend. I was on the right track. I just needed a longer expiry time. I used a longer option in the next example.
The %R was dropping across -50, and the price fell the way I had expected.
Oct 01, 21:54:56 AUD/JPY 91.7555 91.6515 Oct 01, 22:30:00 $3.00 70% $5.10
First is a trade on USD/JPY. The price broke down through support, %R was dropping, and I took the trade. The candle hesitated falling for a few minutes, but dropped low enough to give me a win.
Oct 02, 21:56:19 USD/JPY 97.578 97.576 Oct 02, 22:05:00 $4.00 72% $6.88