Types of Market Days

"Your ability to determine which market participants are influencing price will
allow you to judge the conviction and behavior of price movement"

In my post above of the Japanese yen its obviously 13 Trend Days in a row. But
there are 5 other types of market days in all and all have importance. Will cover
all in time at a walking pace.

1 -Trend day
2 -Double Distribution Day
3- Typical Day
4- Expanded Typical Day
5 Range Day
6 -Sideways day

''those that deploy there capitol the right way on the day consecutively master the
markets"
Types of Professional Traders

1 Investors
2 Position Traders
3 Swing Traders
4 Day Traders 

Types of Market Days

2 -Double Distribution Trend Day

The double distribution trend day opens with a narrow initial balance. The initial balance is
the base for any day 's trading. A narrow initial balance breaks easerly, but a wide initial
balance is harder to break. The fact that the initial balance is narrow on this type of day
indicates that there is a good possibility of a breakout from the opening range and
subsequent initial range, indicating that you will see a move toward new value. Below chart
demonstrate DDT Day.
Attached Image (click to enlarge)

Try to visualize the box with the initial balance on open in the above chart. Its narrow and
with its initial range you can plot its high and low! Therefore if the first distribution fails and
pulls back below the initial opening balance then you can look to plot a sell to capture the
remainder of the day. Visa versa if the first distribution is opposite to the chart i.e 1 st
distribution is short.

Initial balance in chart

Attached Image (click to enlarge)
So we have got this far ! on the chart are two days showing Initial Balance at open. So from
a initial balance perspective they are your first line in the sand in which you can determine if
to get your feet wet....................line in the sand below form IB high and Low blue lines. So
your first thought is what side of the line will you be trading on based on the IB

heres your lovely GU, I know you like it, 2 consecutive days with inside values and on the
Central pivot range then very tight initial balance on the break out day. Note how the Central
pivot range expanded and opened higher then the prior day, that is a break away play.
Attached Image (click to enlarge)
Just to simplify things for newer traders. do you see that the CPR in the chart below white
and orange lines helps you determine a daily center of gravity. And the Grey lines which are
daily pivot points help you to determine reasonable targets. See how GU above reached R3
and pulled back? Now we can determine what the professional day traders are doing. On this
day on GU ! a tight initial balance on the Central Daily Pivot point was to good to miss as this
correlated with the Weekly central Pivot point.

Market hit R3, a reasonable target for day traders so many took to bank. The Swing Traders
that went in long on the Weekly Pivot took some profits at weekly median line with a swing
target of 1 .338 (To be continued)

The position Traders are targeting 1.339 but there filled at 1.308 from the begging of last
month

Positions went on so fast the market went sideways for a bit then broke out. You will see this
play time and time again in the market which is a reputation of days you confronted in the
past. Eventually you will anticipate which market day ahead just from a few clues at the start
of the session.
Attached Image (click to enlarge)
Quoting OAPDave
{quote} Ok so far, so what is the Red Line, and what part does that play
Hi Dave hehe....good questions that a 200 sma and I forget to take it of my charts
its saved under my profile...I dont take much notice of it unless i switch to longer
time frames. That will come apparent when we cover market cycles much later
on

Here is the same Chart purely from the perspective of a Position Trader,
however on 1 hour time frame so you can see there in on S1 monthly pivot
point entry from last month. Do you see they covered there longs last month
when the Central monthly pivot pointwas hit? And then this month -
removed short cover on the newly establish Monthly Pivot point
Attached Image (click to enlarge)
yUP .........................
Attached Image (click to enlarge)

So now you understand the participants a bit more. Those Position

traders and there game play - Buy at value / Hedge on fear take
profit at goals

As posted earlier on so starting to make sense

now ..............................>>

types of Professional Traders

1 Investors
2 Position Traders
3 Swing Traders
4 Day Traders

Swing traders doing there thing on the Weekly pivot points

Attached Image (click to enlarge)

Current position on UJ Short terms Target R1 daily

Note how the professional day traders Gap and fade the move on the
CPR. This is 3rd wave up of cycle, wave 2 you can see how it stated
to the left on the very first CPR 30 Aug
Attached Image (click to enlarge)
Current position on UJ Short terms Target R1 daily Note how the
professional day traders Gap and fade the move on the CPR. This is
3rd wave up of cycle, wave 2 you can see how it stated to the left on
the very first CPR 30 Aug {image}
If you take a look at the chart up above UJ , see today's opening
balance and initial range, it will be hard to break that on the down
side today, however NFP has the potential to do so as its not a typical
day. See yesterdays initial range similar to today's. market pushed
down hard and could not breakthrough the initial range.

But your points are valid. Particularly when you say the future is
based on the past! your damn right it is. So extremely good points
you have raised. As what we are covering is how professional traders
use Data from the past to anticipate the future. And use information
they see right now at this moment to uderstand who is influencing
the market and where they are targeting.

1 - Initial Balance
2 - Types of Market Days
3 - Rolling Pivot Relationships
4 - The Central Pivot Range
5 - Types of Professional Traders - What they do to time these
moves.

The easiest way to get the extended-session data values (high, low,
and settlement) is to flip to a daily chart of the instrument you are
trading. Most data providers and charting software automatically
include extended-session data when presenting the daily bars. Just
take the high, low, and close from the daily bar, and you'll have the
inputs for the next day's pivots.

So for the Monthly pivots then pivot purists are using the close of last
months bar to calculate the preceding months play by play. Same for
the Weekly.

Most MT4 charting packages wont carry Time adjustable Floor pivot
indicators, D, W, M as those are considered professional trading tools.
Platforms like think or Swim or other advanced plat forms include
Professional Floor trader tools such as Pivots and Market Profile.

Initial Balance we use for all 6 market days!

For Professional Trader terms:

Day traders are considered as Scalpers in the professional world of

trading.

Swing Traders could be in a trade anything up to a week.

Position traders expectations are to be in the initial trade for a month

before short cover.

Long term Investors the yearly levels there interested in.

I am all of the above apart from Swing trading because that require
times when you trade against the fundamentals, and that I dont do
ever

LOOR PIVOTS HERES SOME BASIC STUFF PRINTED IN TRADER

MANUALS

Quoting Dennis1468
R1 achieved next target in my play by play R2
Guys lets get one thing straight ...I am here to help anyone who want
help to learn some of this stuff that I picked up on from some great
friends and great trading buddies. I may seem crass at times, but I
am purly translating the market for you and how to plot your play.
Tuesday will trade the foot prints. NFP Initial balance will be in play
for the remainder of the month. And its Support and resistance zone
will be pivotal for plotting the next phase your monthly Postiton trade
with correlation to NFP levels and the monthly pivots.

Question: as daily resistance points change on Monday, do you shift

to those targets or keep today's levels?

Ah good good good question. This play is a day trader play. I will not
hold this Position over the weekend. Monday day trader entries and
target will shift with the new daily pivot open.

The professional Position Traders wont even be taking notes of what I

am doing, they will still be holding from 99.50 and this is just noise to
them there looking only to short cover at 106 towards month end.
Thats means value at 99.50 so they will lock in profits on the way up
and hedge with short at retracement zones

1 Pivot Width - Opening Range - to plot the type of market day ahead
2- Then will look at inside and outside Value
3 - Then will look at the power of confluence
4 Then you be ready to trade the floor pivots
5 - Then the most important thing of All - how to know your
fundamentals - use em there brilliant

The easiest way to get the extended-session data values (high, low,
and settlement) is to flip to a daily chart of the instrument you are
trading. Most data providers and charting software automatically
include extended-session data when presenting the daily bars. Just
take the high, low, and close from the daily bar, and you'll have the
inputs for the next day's pivots.

So for the Monthly pivots then pivot purists are using the close of last
months bar to calculate the preceding months play by play. Same for
the Weekly.

Most MT4 charting packages wont carry Time adjustable Floor pivot
indicators, D, W, M as those are considered professional trading tools.
Platforms like think or Swim or other advanced plat forms include
Professional Floor trader tools such as Pivots and Market Profile

"Your ability to determine which market participants are influencing

price will allow you to judge the conviction and behavior of price
movement"

1 Investors
2 Position Traders
3 Swing Traders
4 Day Traders

So today we did live trading on the NFP. I did number 4 Day trade
entries with day trade targets. all whats left to wrap up the play by
play is for me to post current UJ chart with clear enntries printed by
my broker on the chart with some notes. To summarize before I work
on the chart notes:

Trade entry 1 at 103 40 closed at 103. 60

Trade 2 entry at 103 60 closed at 104 .12

Those to trades are at the CPR

Trade 3 entry 102 90 closed at 103 80 half take profit and its
remaining balance closed at 104 .40 Those are S1 entry take profit R!
and R 2
Trade 4 104 close 104 30 heavy long scalp

Chart to follow

All entries apart from Trade 4 were pre planned by market orders
based open range and initial balance .. let me do this chart

Trade 2...
Todays NFP Play by play in the charts. See we are dead here.
Because we closed the file. Professional day traders are on the same
plan with similar results.
CPR is Central Pivot Range, (Normally on Daily Eastern Time) This is
normally used by Professional Day traders to view its relationship
with prior rolling days and its band width. If you look at the CPR
yesterday on the NFP chart is has a lower inside value then today.
Then the initial balance to day broke to the upside above the level of
yesterdays CPR and todays CPR.

So easy day to anticipate the play by play. Get filled on Pull backs to
CPR then add news/nfp = Put long additional orders S1 and S2 to get
filled on other people stops

Expanded Typical Day

Lets get to some meat..................Your CPR what it tells you as
below then go back to my UJ NFP trades and do eye tuning for bucks
trading OUTSIDE VALUE..........................dAY 4 OR 5 IS ALWAYS AN
INSIDE DAY
Same old repetition 5 days plotted

so now go back to my uj NFP chart and recognize the repetition of the

overlapping higher value of the mornings open central pivot range -
Candle opened below value right? yes it did, So I ignored it as the
CPR is higher value.............................. ..............repetition no
doubt! thats why I make the calls, left is left right is right. There are
times when I am not certain, Monday trading day. Tuesday back on
track. I dont trade on Mondays, Footprints plant on Tuesdays, No
paper sellers on Monday, everyone does there balance sheets as
Friday Late night close is after Europe is already closed! tickets cant
be switched until Monday. Therefore a empty pot.

if point of control is daily opeing then how to you determine VAH and
VAL?
There are two ways to determine these values - One is by using
Market Profile but plotting it in a similar way to a pivot. The other
way which I prefer is using the CPR to plot the value areas. on my UJ
chart those values are the orange lines. I have the code I will post. I
use the PP daily as POC. Sometimes I use Market profile for no other
reason then to be a bit bling in front of my wife as she does not know
MP but just trades the big time frame pivs. She has no interest in day
trading.

Here's a quick list

VP - Volume Profile
MP - Market Profile
VPOC - Volume point of control
POC - Point of control (Classic Market Profile charts only)
VA - Value Area
VAH - Value Area High
VAL - Value Area Low
IB - Initial Balance
IBH - Initial Balance High
IBL - Initial Balance Low
VWAP - Volume Weighted Average Price
MID - Midpoint
RTH - Regular Trading Hours, Pit session
ETH - Electronic Trading Hours
DOM - Depth of Market, Price Ladder
HVN - High Volume Node
LVN - Low Volume Node
OR - Opening Range

Market opened higher then prior days close so you would have
bought. Days CPR was inside yesterdays CPR Value. The professionals
sold of immediately then waited for the gap and fade back to sell of
some more. The crowd caught royally as the marketeers call it a fake
out. Thats nonsense its a gap and fade!

SELL 20 AT 128 filled 10 AT

128 ................................... ......REMAINING BALANCE AT 128
FILLED AGAINST STOPS AT MARKET ACTUAL ON THE GAP AND FADE
BACK.

MARKET CANT TAKE 20 MIL ONE LOAD THATS YOUR GAP AND
FADE.....................SLIPPAGE
Attached Image (click to enlarge)
Quoting AstroStudent
may I know what and where is the gap you are referring to?
Ah good question.....for a marketeer a gap is unpainted real estate.
For a pro Trader a Gap up or a gap down is preceded by a fade back.

What the marketeers refer to as a gap is refereed to by professional

traders has a open block. I will paint a chart gap and fade

Gap down Fade back - and on the prior day was a Gap up and fade
back....

SELL 20 AT 128 filled 10 AT 128 GAP Down Balance filled on the

Fade. Anymore orders Sir. Thank you for your business. Have a nice
day (Filled).
Attached Image (click to enlarge)
tartin g to make sense...............nothing happens theres only 6 types
of market days..............if you know em. and how to anticipate them
your just trading repetitions....

Only need 7 ticks of the first bar open (You need that so you can
calculate your daily pivs or your indi does) and then measure the
opening balance ...then measure your CPR then plot your moves on
the fade back or play the break away

Target are simple those are plotted for you already , just work out
what type of trader you are, Day, Swing, position, Long term
Thx Bro...I need a moderator. USD CAD S1 GREEN Line Position
Traders Target towards end of this month expect retracment BACK
TO MONTHLY P short term big fat white line is now WHICH IS NOW
major resistance. Selling down big paper sellers/crude inventories
50,aybe re touch a barrel below 28 on the deck(DEC)
Note theres no re touch from the Gap up 1284 so paper sellers on the
fade back 1 302 is now resitance/TARGET 1 28
Attached Image (click to enlarge)

USD CAD
note the CPR pivot width /rolling relationship today against
yesterday ............ = TODAY IS OUTSIDE LOWER.
Which means wait - let market gap down and fade back to Value
(Back to CPR) = Sell the CPR fade the move. Same Story different
currency

look at the CPR GU

Attached Image (click to enlarge)
 GU Two groups of 3 days in each circle - Lower value inside then
higher value outside break away to the upside - 2 break away
plays on to different days same story same CPR Widths.
Repetition - imprinting..............

We leading into the footprints and how they trade

Please check if this one looks like single distribution trending day
only... then it breaks, short... and continues to do so. It may continue
to do so till Monday, that might begin with an IB which breaks, then
short once again... like a continuation that looks like a double
distribution trending day.
Attached Image (click to enlarge)
Quoting v2vboni
0{quote}

Similar......to a DD Day what you have there is a Expanded Typical

Day..............Initiative Sellers at the lower high

Keep in mind that during an Expanded Typical Day, both the upper
and lower boundaries of the initial balance are susceptible to
violations. On any given day, you will see one, or both, of the
boundaries violated, as buyers and sellers attempt to push price
toward their own perceived levels of value
Attached Image
Dow first used his theory to create the Dow Jones Industrial Index and the Dow Jones
Rail Index (now Transportation Index), which were originally compiled by Dow for The
Wall Street Journal. Dow created these indexes because he felt they were an accurate
reflection of the business conditions within the economy because they covered two
major economic segments: industrial and rail (transportation). While these indexes have
changed over the last 100 years, the theory still applies to current market indexes.

Much of what we know today as technical analysis has its roots in Dow's work. For this
reason, all traders using technical analysis should get to know the six basic tenets of
Dow theory. Let's explore them.

Buy at support in a up trend and sell at resistance in a

downtrend.

Only do the above if the fundamentals are on your side to if

there not do nothing. If you fail to take this advise then you
will end up holding a empty bag.

Increase your success Fundamentals on your side - Market trend

agrees with fundamentals - Market cycle shows value right here.
Thats a trade now just find the entry.

Use your CPR to time the market and get in on the dips or rips:

Fundamentals on the basic level:

Know your 3 kings and 1 queen !

USD .........Euro ...........JPY...................GB P
Know there
Administrator...............Fed.... ...........ECB.............BOJ..... ...........B
OE

Hear to there minutes. What your looking for are as follows: Do they
support there currency at current price. Expected rate hikes or
suggested Quantitative easing.

What you do with it: When the Techs = fundamentals you then know
if your a bull or a bear.

Simple analysis ..........Trade rate hike currencies against QE

currencies when techs and Market Cycles align /sing the same tune
dont fight the market you wont win its bigger and more patient then
yo
Easy to see there play by play coz the road map is there in front of
you. get profesional charting package if your a visual trader. not
required if you trade ea
Attached Image (click to enlarge)

I can trade the CPR without using the indicator reference points. All i
need is the market open sentiment IB and wait for break of initial
range. I like to plot the big time pivots simply to know what the pros
are doing and what the game play is on targets and short cover.

Stupid things i will ask my self when working things out may sound
like this. Right looks like long looks good on UJ I may go long! whos
long/ whos participating and driving this move, I need to know that
as i need to be in on a move that has conviction. not in and reverse.
If I see big move up from S! monthly I know big money, big position
traders are driving this move with conviction. The pivs give me
reasonable Targets. See the charts/Quants have back tested/I thinks
its 90% accuracy pivs alone. Knowing how to use them thats another
thing why we here. Thread predicting price...so far 100% hit rat
They are hungry for liquidity so why would anyone want to promote
using limit pending orders, SL and TP and add fuel to their
manipulation schemes? And there are countless threads on
supply/demand and order flow strategies to further manipulate retail
traders

Because my entries are the stops, take a look at my trade

charts...now its worth you having a read for you..............Im the
master of buying the markets stops that why Im doing this thread.

My Entry is the stop loss for some other dude

Attached Image

Post 167
Quote
Quoting Dennis1468
{quote} its alright all is welcome.............lots of truths in all the
comments. logic is never what it seems. Example logic would suggest
that you go long in a up trend. Wisdom may say otherwise.

Thos long stops taken out is my market order to go long at

value................thats what I do..note the name of the thread How to
predict markets, Catch the moves at value...........lets Rock

Hi all is good but I want you to understand

The CPR is not VAL VAH POC as those are Market Profile Concepts.
CPR is a Floor Trader Pivot Concept.

However both Chart in a similar way and can be used by visual

traders to percieve value. I wont Cover Market Profile. It would grow
this thread to much and I only want to give those who can gain an
advantage by limiting there tools to Fundes/Pivots/ market days
initial balance .

Good, this helps visual traders stick to a trade plan and have realistic
target that human psychology has money on. Visual traders and a lot
of EA are pivot based.

You could visualise the limit orders say at R! then plot 30 pips back
for the stops make that your entry at value. Same as my S! entry UJ
on the stops

1 dont over leverage, its only one trade theres more

2 take half profit say at 20 to 40 pips hold the rest to target

think about what you gonna do before you enter the trade, think
about what u will do if it goes against you. Dont enter any trade
without a plan for failure and win

I have one question/ Initial Balance is calculated from when to when?

In terms of the sessions?
best to visualize it on the first hour of trade NY open, so 4 X 15 min
Bars . I plot the IB from NY open/some traders plot each initial
balance/NY/Asia/London....I dont

Your also looking to See the following!

Did the first bar open or close below or above the daily pivot point

Also did any of them close above or below daily pivot (Any of the 4)

Your also looking to see if the initial range is wide or Narrow (Wide is
hard to break through but it can gap back - So potential entry on
stops)

Narrow Range breaks easy

Initial Balance

The market's open can have a significant influence on the day's

outcome. Specifically, the open in relation to range and value can
help you forecast potential price behavior.

So on Initial Balance your also asking yourself which 3 ranges is the

open into the relationship of yesterdays print/or the prior session.
Again I only do this NY to NY. Some of my friends plot session by
session. I dont I do day to day and more/rolling days but will cover
that in time

So on Initial Balance your also asking yourself which 3 ranges is the

open into the relationship of yesterdays print/or the prior session

The Three Opening Relationships

In Range and In Value

In Range and Out of Value

out of Range and Out of Value

irst Open Relationship

In Range and In Value

The first type of opening relationship is an open that occurs within the
prior day's price range and within the prior day's value area. An open
that occurs in range and in value indicates market sentiment from the
prior day has not changed and the market is currently in balance.
When it occurs, the day's risk and opportunity are both low.

8 Time out of 10 You will end up with a quiet trading range session
when the open is In range and In Value. So these lead to the
following type of days:

A Typical Day
Trading Range Day
Sideways Day
Attached Image

Second Open Relationship

In Range and Out of Value

The second type of opening relationship is an open that occurs

outside of the prior day's value area, but within the prior day's range.
An open that occurs in range, but out of value, indicates that market
sentiment has changed slightly, which offers more risk and
opportunity.

However, in order for greater directional conviction to be seen, the

market must break free from the prior day's range and accept new
value.

If this happans Trend Day, Double- Distribution Trend Day, or

Expanded Typical Day scenario will likely develop.

If it dont break prior days range and confirm acceptance then your
back to square one , Typical Day, Trading Range Day, or Sideways
Day
Attached Image
3rd Opening Relationship

Out of Range and Out of Value

Market opens out of the prior day's range and out of the prior day's
value area. On this type of day, the market has opened O/O/B,
Market sentiment has changed from the prior day.

So if the market does fall back within the prior day's range, then the
market is wider and accepting new value which means range
extension.

Big money like this and will enter the market. A Trend Day or Double-
Distribution Trend Day usually arises from this relationship.

But if price drops back within the prior day's range, this means that
responsive market participants were able to push price back toward
prior value, (I.e They drove back price to protect there loosing
orders) indicating a failed breakout attempt, thereby leading to a
Typical Day, Expanded Typical Day, or Trading Range Day. If new
value is rejected in strong fashion, a Trend Day in the opposite
direction could also be seen.

An open that occurs out of range and value

offers the most risk and opportunity.....
Attached Image
Types of Professional Traders

1 Investors
2 Position Traders
3 Swing Traders
4 Day Traders

The initial balance is the high/low from the first hour of a trading
session (i.e. completion of the first 2 letters in the Market Profile). As
Dennis indicated he uses a 24 hour day (some traders may use a
specific session, but he doesn't), so NY open to NY open as an
example.

The value area and POC concepts also come from the Market Profile.
Value Area – The Value Area represents the range of prices that
contain 70% of a day’s trading activity. This 70% represents one
standard deviation and reflects the area where a majority of the
trading occurred. It can be calculated based upon the TPO count
(number of letters in the profile) or more accurately using the actual
volume at each price. It is most commonly referenced to yesterday’s
trading and used as reference points for the current day.
Point of Control (POC) – The price that recorded the most trading
activity

For those seasoned traders, see how 3 days wide initial

balance is a hard nut to crack, apart from on spike thrown out
by NFP to dampen conviction and take the stops.

Wide Initial Balance Hard nut to Crack. Please go back to

Initial balance on this thread
Attached Image (click to enlarge)

hello dennis, quick one, is your initial balance the 1700hr est?

EDT (Eastern Daylight Time) UTC/GMT -4 hours. your broker may print
the D/O not on Eastern, many will supply extended data if you file
with them.

Your exactly right, I could not agree more and stand corrected. I
should have stated IR and not IB However my charts are 15 Bar not
60 min bars

1) Set your pivots if daily open (session dependent) and weekly

pivots
EST (UTC -5) as II am pivot purist
2) Check current price level if it is inside value or outside value with
respect to the so called CPR. -- please ask D about these one.
Correct

3) Is the price open up below/above the pivots?

This is a big subject will cover it as we move on. The close price of a
candle close above or below will became apparent when we dig
deeper. We are Generally, but will go deeper later are looking for a
fad back to agreed value. Price normally

a) If Bullish level check and verify your S1 holds a strong resistance

or above it (like previous session highs/lows)
yes gap and fade the move

b) If Bearish check if your R1 holds a strong support level or below it

(like previous session low/highs)
as above

4) If price breaks above or below your drawn IB box, then use your
Daily or Weekly Pivots in order for you to perceived Buy or Sell entry
with set TP & SL
Yes

5) GAPS triangle drawn... it is easier to draw a triangle than a cup.

Just imagine a cup or a funnel in upward (gaps filled) or inverted
(faded down).
Yes. The cup and Handle. Is actually something else of importance,
will cover later

So market gaped up and faded back. Your entry was long on the
fade. The initial move up is like your confirmation your in a bull
market,

So

Market Gaped up - My Confirmations to go long

Market fade Back - My entry to go long on the fade - (Market timing)

Look at below GU chart

1. Current Exposure at Risk = Used Margin towards open positions? if

yes, how do you limit exposure to a maximum % of your total equity
(Bank+Brokerage account?). How much % do you cap at? Do you use
% of equity or % of account balance?
Both +/- ! I use current exposure at risk against equity = - 5% draw-
down on Equity and 5% Usage of leverage = Under my Model -
anything close to 500 pip loss will be a concern at around the 200 pip
- levels 2+ 2 - ( USD per Pip per Every 10 K use of leverage max)

2. What do you do when max % exposure is reached? do you start

closing profitable positions or losing positions or hedge(I think you
hedge to freeze profits...

Correct I do not Hedge to Freeze a loss, as this closes of

opportunities and makes fixing what is broken even harder. At 400
pips - I am at home at the screen. Max volatility level is 500 - pip cut
off/close. (I know it sound primeval but it works for me and is
disciplined) Counter measures of subject. I may close half loss ect.

3. when time comes to add/open new positions how do you ensure

you have enough room to accommodate drawdown?

Equity exposure positive and half profit taken of from open position,
We adding back what we took of so use of leverage remain quite
consistent. By taking half of we are enduring that we remember to
bank. If loss on new postion is near = to the open profit of the
remaining half in market i will close both. So minimum profit is first
half banked.

Crude Example: + 50 at 1 lot take 0.5 profit + 50 = 50 USD in Bank

and 50 usd in market. Add half position back negative 25 pips against
= 0 profit in market and usd 50 in the bank.

If the above is loss, I close production....more apparent in points

down

4. Do you worry about overexposure in a particular currency

(EUR/GBP/JPY/etc) across your open positions? if not, why not?

Yes I do its always a concern. I been hurt many times before, hurt
yes really hurt. Thats why I am very low on leverage and how many
pairs \I trade at 1 time.
My psychology is not how to make money, my concern is always not
to loose self control over leverage. Simply UJ is my main pair and EU
is my back up when UJ goes against me. I know many traders will
say why not buy/sell both when your in profit to maximize profits.
Thats not for me. EU is my opposite safe haven. So I can only worry
about over exposure on Uj (Edit) and EU. I dont trade anything else
unless running EA on slots, (Thats another subject)

5. What do you worry the most when adding positions to existing

pairs?

Distance from initial entry, I may take of at 20 but most can be 50 to

100 pips take half. Amount taken of from initial profit. Clear
Momentum and we are trading above last Handle. Todays levels and
past History Support Resistance. What part of the 2 year cycle are we
in. Are the fundamentals on my side.

6. How do you calculate position size? % of equity or balance? What's

your maximum % drawdown this year to date?

Position size I think we covered it already above i.e. 1% use of

Leverage on initial entry. Can get slightly wider up to 2% if covering
on opposite correlation on negs

Max open DD -15% I cant always stick to my rules but thats not
released Draw-down but resulted in a bad positive month. Normal
draw-down is Capt at 5%. That is due to low leverage and narrow
volatility risk levels (-500 pips/$500 usd per every 10k of EQ 5%)

7. Do you move SL to BE?

I never use a stop loss unless I am faking my tp area on a running

trade. To ensure a loosing trade gets closed. When I am in the -250
Concern zone prior to -500. I am auto alerted and I am at the screen
to review then I may just let it run then after. Production switched
of.. Most of my trading otherwise I am not around after setting
market limit orders/TP Zones. I only work when I am loosing and I
dont work that much on that to.

I do have Hidden Stops from EA. if I cant be at the screen. But I

prefer to manage loosing trades against current market dynamics.
Important for me is to leave a minimal TP target on any loosing
trade.

8. Do you hedge? if you do, margin requirements change based on

broker therefore affecting free margin when you hedge/unhedge.

I only hedge profits I never hedge losses. If I do hedge loss its

reduces my leverage and locks margin. Sounds Good. No I like to run
loss open, let the market work for me even when I am loosing.

9. do you have a daily/weekly/monthly target? if yes, do you stop

trading once the goal is met?

Subconsciously I have 2000 pip target a month, I dont break that

down by day or week because we know the markets are not of that
nature. But yes around 1600 pips a bad month and 2000 pips on a
reasonably good month. I do not stop trading when the goal is met.
The target is always never much of a concern/controlling the risk
keeps the factory producing.

10. Do you carry open positions over weekend? if you do, how do you
manage event risks over the weekend?[/quote]

Winning trades no if there day traders targets. Position Trades most

certainly if I am holding say 79 on UJ.
Loosing Trades same rule applies, will carry up to -500 pips even over
the weekend, no overnight or weekend coms. Time is irrelevant in
what I do on a loss. But its net impact is that it can slow down
production as I may be at max leverage 5%

Now this is going to get me some nasty feedback from some .

Normally a loosing running trade, I dont fiddle to much. Basically I
am out at - 500. at the basics. It take the pressure of, wind down
production on the plat, relax with family. Let the trade win or loose
and when the market has done its work. I go back to work again. Net
result..Happy trader no pain

Absorption: Occurs when aggressive market participations enter the

market, but price doesnt budge, indicating larger timeframe
passive participants are absorbing market orders using limits
(see also Iceberg).
Acceptance: Occurs when price is perceived as fair among buyers
 and sellers within a balanced range.
Aggressive Buyer: A market participant who buys using a market
order (see also Lifting the Offer)
Aggressive Seller: A market participant who sells using a market
order (see also Hitting the Bid)
Balance (Bracketed): Balanced ranges develop when the market
establishes value, thereby offering fair facilitation of trade
between buyers and sellers.
Bids: Buy orders
Demand: Buyers
Discount: When price is below value.
Flush: Occurs when the market must flush the stops in one direction
in order to remove stops in the opposition (and desired)
direction. The market must shake out the weak hands before
moving in the desired direction.
Goes Bid: Occurs when aggressive buyers successfully lift the offer
by buying all the inventory at a price level, getting price to tick
higher.
Goes Offered: Occurs when aggressive sellers successfully hit the
bid by selling through the demand at a price level, getting price
to tick lower.
Hit Bids: Aggressive sellers using market orders to sell on the best
bid.
Iceberg: Occurs when large players accumulate a position gradually
using limit orders, so as to hide the overall position size.
Imbalance (Trending): Imbalance occurs when excess supply or
demand causes range expansion from balance. Imbalances
suggests a price discovery phase in search of new value.
Initiative Buyer: Buys above value, betting that price seeks higher
value.
Initiative Seller: Sells below value, betting that price seeks lower
value.
Lift Offers: Aggressive buyers using market orders to buy on the
best offer.
Long Liquidation: Occurs when buyers are forced to liquidate their
positions, thus triggering a sell-off.
Offers: Sell orders
Passive Buyers: Buyers using limit orders to enter the market.
Passive Sellers: Sellers using limit orders to enter the market.
Pivot: A key level that buyers and sellers are attempting to control.
Premium: When price is above value.
Price Discovery: The process of determining the price of a good in
the marketplace through the interactions between buyers and
sellers.
Range Contraction: Occurs when price transitions from imbalance
to balance, creating a tighter range of trading. Can forecast
significant opportunities for range expansion.
Range Expansion: Occurs when price transitions from balance to
imbalance during a price discovery phase seeking new value.
After expansion comes contraction.
Rejection: Occurs when price is perceived as unfair among buyers
and sellers, which creates natural support and resistance levels.
Responsive Buyer: Buys below value, betting that price will return
to prior value.
Responsive Seller: Sells above value, betting that price will return
to prior value.
Resting Bids: Placing an order to buy using a limit order
Resting Offers: Placing an order to sell using a limit order.
Short Squeeze: Occurs when sellers are forced to buy to cover their
positions, thus triggering a rally.
Supply: Sellers
Trapped Buyers: Buyers who enter the market and immediately see
price go against them, thus forcing them to liquidate their
position. Can trigger sharp reversals.
Trapped Sellers: Sellers who enter the market and immediately see
price go against them, thus forcing them to buy to cover their
position. Can trigger sharp reversals.
Weak Hands: Positions held by short term speculators who do not
intend on holding onto the position.