So you know we trade the DAX on M1/M5 during the London Session. Everyday.
Here is a little trick that will help you avoid some trades. Right at the London Open you already have one important price zone. Do the following and you'll avoid taking a few lower probability signals.
The market did not want to move today. And that was quite expected. Just look at the H1 chart. Its been rising up for 8 days now.
It was too boring until the White House Leaked the "oranges" report.
I had enough and so I hit the Gym. Then this happened.
The Fractal Geometry of the Market is Amazing. AIMS Setup 1 and AIMS The Hunt
The following 2nd setup, in the sequence, was a lot easier to take this morning.
Clean open gator and nice clean setup 1 on m1. but I was out, just took the Seed. and it went and hit 2R like a joke.
Long time ago one of my friends said, Rober (not mueller),
"The Chart will stop setting up when its stops moving".
later he said that he never said it, that I made it up and attached it to his name. but that's a different story.
THIS IS SETUP
The Afternoon Session (US Morning Session)
Right! so Price went up above the Gator on M5. but forget that... price broke out of a tight box on m1, in the direction of the m5 chart , that is Upwards... and then it pulled back and created a Seed signal. That's All I wanted.
Right now, at 15 min before NY Equities Open I'm looking at this stuff and I'm thinking, when is it going to crash?
And some Trading Lessons:
To those who worry, I take the setups that nobody takes or I take the one that does not move, I say just keep taking the setups according to your rules and trade plan. Continue recording your T20's. You will learn how to filter some trades in time. Nothing can beat quality chart time and experience.
... but if you don't take them, worried you might lose.
You've lost before you've started.
Take em. if you think its a setup TAKE it
Take em, if it ticks all the boxes , TAKE it.
Take 100 trades, only then you will qualify to make a judgement. You're just an observer before you've actually done it.
Partake in the game then you earn the right to make a judgement.
yes, Sam and I might be able to say, "nah not this setup". but you're new, you can't say that yet. you just look at the rules and TAKE IT. time will teach you ... that's the whole GAME.
meanwhile the Seed is just 5 points away from 2R Profit.
the EASIEST way to trade for me is have my charts m5/m1 split and trade. but it gets boring at times.
- Support Resistance, is Shit,
- Price Action is King is Shit,
- Trend Lines is Shit,
Trading your method based on 3-4 indicators is THE WAY forward.
No matter how many great traders I dug up, spoken to or met in person or found on youtube, they all have some sort of trading system they religiously follow. Take Linda Raschke for instance. She is a discretionary trader yet she has done more modelling on different markets. She follows her method based on a few indicators she's used all her life, specially the 3/10 oscillator.
Whether its on naked charts, charts with indicators, or indicators without a chart.
YOU HAVE to follow your trading rules. and I have given you those. time tested rules. FOLLOW them or STOP.
It's all about Sticking to the Rules, Following your Plan. Consistency is the Key. Patience and Hard Core Discipline.
The Setup 1 on DOW M1 Later Today
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| You saw breakout , strong breakout at NY Open. Wait for Setup 1 |
