LONE WOLF's Trading Diary

XRAY27

XRAY27

Well-Known Member
#361
#361
LoneWolf said:
Thank you Xray, whats flag end move ?? Any link for the same..

You pointed out right, last week 2 times it happend, that a good move is missed for I did not get a classing pivot forming on my 5m chart. Yesterday also when the pivot formed it was higher than the support area. That's why I added 21 EMA on my chart to see the minor trend direction and pullback of price to 21 EMA, to enter on low risk pullback setup in the direction of trend..

Though I knew it for a long time, but now slowly realizing it, that its not the pivot/indicators/entry that's what gonna make us a profitable trader, but our capacity of taking a low risk and defined trade setup in the direction of

On a side note : @Xray, your trading returns are terrific.. You turned around and lightened the situation like Captain cool "Dhoni".. In just 2 weeks, you are net up by 30%.. :clapping::clapping:

Now feeling blessed.. :)
Click to expand...

Just check post 339 in your own thread which subhadip suggested ...

i'm doing this with in this range..

http://www.traderji.com/derivatives/99863-pivot-trading-new-way-trading-128.html#post1123574

Till this year i used to dance in swing/positional trade once i seen the draw down :(:mad: but determined to trade both for this year with out fear of losing..once i'm out in this year then i can settle in all of them !!!
 
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LoneWolf

LoneWolf

Well-Known Member
#363
#363
XRAY27 said:
@ LoneWolf !!! last week loss was 22 % in all segments and second week it is 31 % profit..so net is just 9 % !!!
Click to expand...
Do you keep any monthly/quarterly risk factor in your MM beyond which one will stop trading for the month ??
 
B

BestLoser

Member
#364
#364
vagar11 said:
Sharing my thoughts in hindsight.

Click to expand...
Any reasons why didnt you consider 11.49 pin bar that rejected PDL?
What i could guess is the pin bar didnt make a new low, downsloping ema, close below ema, and most importantly i think overlap with prior bars...
And the point in favor of Long was price rejected the PDL second time, so chances were it will go up..
What was you analysis?
 
LoneWolf

LoneWolf

Well-Known Member
#365
#365
BestLoser said:
Any reasons why didnt you consider 11.49 pin bar that rejected PDL?
What i could guess is the pin bar didnt make a new low, downsloping ema, close below ema, and most importantly i think overlap with prior bars...
And the point in favor of Long was price rejected the PDL second time, so chances were it will go up..
What was you analysis?
Click to expand...
If one is making entry solely on rejection/Pinbar near support/resistance area, then hardly the bold criteria will hold. Lets say price is approaching/falling to support then for most of the time it would be trading below EMA line, Lets say near support it gives a sharp pinbar with good rejection volume, No overlapping with prior bar. But still it would be below the EMA, and EMA will be still falling.. Only after a considerable congestion/range near support, when the EMA will go sideways-flat, pinbar might close above EMA.

So I would like to know more about this pinbar setup and how to read it from you and Karthik (he also trade this beautifully near PDH/PDL).. Please keep sharing in your free time.
 
Smart_trade

Smart_trade

Moderator
#366
#366
XRAY27 said:
@ LoneWolf !!! last week loss was 22 % in all segments and second week it is 31 % profit..so net is just 9 % !!!
Click to expand...
If you have separate capital allocation for all three segments ie Daytrading,swing trading and position trading (and equal amount of capital for all the three )then your loss in first week is 7.33 % On total capital and not 22 %. Similarly Profit in 2nd week is 10.33 % of the total capital giving a net profit of 3 % for 2 weeks which is good considering that you recovered from first week's loss.

Smart_trade
 
amitrandive

amitrandive

Well-Known Member
#367
#367
LoneWolf said:


Its same, just modified the AFL little bit, Now the Previous day high/low are plotted in terms of range drawn in lightblue color. Previous 2 day;s high low are plotted in pink color.

Just added the 21EMA, to see the direction of minor trend.
Click to expand...
What is this range based on ?

It seems it is the range of the Candle making day's High/Low with respect to close of the same candle?

If possible please share the AFL,looks good for marking the PDHLC zones instead of single lines.
 
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amitrandive

amitrandive

Well-Known Member
#368
#368
LoneWolf said:
If one is making entry solely on rejection/Pinbar near support/resistance area, then hardly the bold criteria will hold. Lets say price is approaching/falling to support then for most of the time it would be trading below EMA line, Lets say near support it gives a sharp pinbar with good rejection volume, No overlapping with prior bar. But still it would be below the EMA, and EMA will be still falling.. Only after a considerable congestion/range near support, when the EMA will go sideways-flat, pinbar might close above EMA.

So I would like to know more about this pinbar setup and how to read it from you and Karthik (he also trade this beautifully near PDH/PDL).. Please keep sharing in your free time.
Click to expand...
Some reading for you

http://www.learntotradethemarket.com/forex-trading-strategies/pin-bars-forex-trading-definition

http://www.tradingsetupsreview.com/pinocchio-bar-trade-setup-pin-bar/

http://dailypriceaction.com/free-forex-trading-lessons/pin-bar-entry-exit-strategies
 
LoneWolf

LoneWolf

Well-Known Member
#369
#369
Smart_trade said:
If you have separate capital allocation for all three segments ie Daytrading,swing trading and position trading (and equal amount of capital for all the three )then your loss in first week is 7.33 % On total capital and not 22 %. Similarly Profit in 2nd week is 10.33 % of the total capital giving a net profit of 3 % for 2 weeks which is good considering that you recovered from first week's loss.

Smart_trade
Click to expand...
Yes, I think he has replied previously that he trade them all in separate account.
 
LoneWolf

LoneWolf

Well-Known Member
#370
#370
amitrandive said:
What is this range based on ?

it seems its is the range of the Candle making day's High/Low with respect to close of the same candle?

If possible please share the AFL,looks good for marking the PDHLC zones instead of single lines.
Click to expand...
Yes Amit, I modified the Previous day range AFL to plot those trade areas as zone instead of line. Here is the AFL.. Enjoy.

Code: 
/**************************************
******** PREV SESSION'S HLC ***********
****************************************/

_SECTION_BEGIN("Two Day Range");

// Get Previous Day's High low and Close
PrevHigh = TimeFrameGetPrice("H", inDaily, -1);
PrevLow = TimeFrameGetPrice("L", inDaily, -1);
PrevClose = TimeFrameGetPrice("C", inDaily, -1);

// Get Previous 2 Day's High low and Close
Prev2High = TimeFrameGetPrice("H", inDaily, -2);
Prev2Low = TimeFrameGetPrice("L", inDaily, -2);
Prev2Close = TimeFrameGetPrice("C", inDaily, -2);

// Check bar's time
CurrBarTime = TimeNum();
DayStartTime = 91500;
DayEndTime = 153000;

// Check range condition
IsAllDay = CurrBarTime >= DayStartTime AND CurrBarTime <= DayEndTime;
IsToday = Day() == LastValue(Day()) AND Month() == LastValue(Month());

ShowPrevHLC = ParamToggle("Show Previous day Range", "Yes|No", 1);
ShowTwoDayRange = ParamToggle("Show Two Day Range", "Yes|No", 1);
ColorPrevDayRange = ParamColor("Previous Day Range Color", colorTurquoise);
ColorPrev2DayRange = ParamColor("Previous 2Day Range Color", colorGold);

x= Cum(1);

PDHbi = LastValue(ValueWhen(H==LastValue(PrevHigh), x));
PDH = IIf(x>PDHbi, ValueWhen(H==LastValue(PrevHigh), High), Null);
PDHO = IIf(x>PDHbi, ValueWhen(H==LastValue(PrevHigh), Open), Null);
PDHC = IIf(x>PDHbi, ValueWhen(H==LastValue(PrevHigh), Close), Null);

PDLbi = LastValue(ValueWhen(L==LastValue(prevLow), x));
PDL = IIf(x>PDLbi, ValueWhen(L==LastValue(prevLow), Low), Null);
PDLO = IIf(x>PDLbi, ValueWhen(L==LastValue(PrevLow), Open), Null);
PDLC = IIf(x>PDLbi, ValueWhen(L==LastValue(PrevLow), Close), Null);

P2DHbi = LastValue(ValueWhen(H==LastValue(Prev2High), x));
TwoDH = IIf(x>P2DHbi, ValueWhen(H==LastValue(Prev2High), High), Null);
TwoDHO = IIf(x>P2DHbi, ValueWhen(H==LastValue(Prev2High), Open), Null);
TwoDHC = IIf(x>P2DHbi, ValueWhen(H==LastValue(Prev2High), Close), Null);

P2DLbi = LastValue(ValueWhen(L==LastValue(Prev2Low), x));
TwoDL = IIf(x>P2DLbi, ValueWhen(L==LastValue(Prev2Low), Low), Null);
TwoDLO = IIf(x>P2DLbi, ValueWhen(L==LastValue(Prev2Low), Open), Null);
TwoDLC = IIf(x>P2DLbi, ValueWhen(L==LastValue(Prev2Low), Close), Null);

if(ShowPrevHLC AND Interval() <= 3600)
{
Plot(PDH, "", ColorPrevDayRange, styleLine|styleNoTitle|styleNoLabel|styleNoRescale);
Plot(PDL, "", ColorPrevDayRange, styleLine|styleNoTitle|styleNoLabel|styleNoRescale);
PlotOHLC(PDH,PDH,Max(PDHO, PDHC),Max(PDHO, PDHC),"", ColorBlend(ColorPrevDayRange, GetChartBkColor(), 0.9),styleNoRescale|styleCloud|styleNoLabel,Null, Null, 0, -5, 5);
PlotOHLC(PDL,PDL,Min(PDLO, PDLC),Min(PDLO, PDLC),"", ColorBlend(ColorPrevDayRange, GetChartBkColor(), 0.8),styleNoRescale|styleCloud|styleNoLabel,Null, Null, 0, -5, 5);
Plot(IIf(IsToday, PrevClose,Null), "", colorBlack, styleDashed|styleNoRescale|styleNoTitle|styleNoLabel);
}

if(ShowTwoDayRange AND Interval() <= 3600)
{
Plot(TwoDH, "", ColorPrev2DayRange , styleLine|styleNoTitle|styleNoLabel|styleNoRescale);
Plot(TwoDL, "", ColorPrev2DayRange , styleLine|styleNoTitle|styleNoLabel|styleNoRescale);
PlotOHLC(TwoDH,TwoDH,Max(TwoDHO, TwoDHC),Max(TwoDHO, TwoDHC),"", ColorBlend(ColorPrev2DayRange , GetChartBkColor(), 0.8),styleNoRescale|styleCloud|styleNoLabel,Null, Null, 0, -5, 5);
PlotOHLC(TwoDL,TwoDL,Min(TwoDLO, TwoDLC),Min(TwoDLO, TwoDLC),"", ColorBlend(ColorPrev2DayRange , GetChartBkColor(), 0.8),styleNoRescale|styleCloud|styleNoLabel,Null, Null, 0, -5, 5);
}
 
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