My own challenge to Myself

Discussion in 'Spread Betting' started by Maverick, Apr 28, 2016.

  1. Maverick

    Maverick Master Trader

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    Day # 8
    137.0 = Today's Range . . . 170.4 = 30 Day Range . . . 5.0 = Renko Brick Size
    11.05.2016.png


    No trading for me today . . . still licking my wounds :(

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  2. Maverick

    Maverick Master Trader

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    Day # 9
    244.0 = Today's Range . . . 171.5 = 30 Day Range . . . 5.0 = Renko Brick Size
    12.05.2016.png


    Very nearly extreme to extreme (R3 - S3) today - A Good day to trade :)

    Lot of pips up for grabs - Remember each Brick is 5

    You can Ctrl & +/- to make the image bigger/smaller with Windows


    Looking at picking up the challenge again on Monday :)
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  3. Maverick

    Maverick Master Trader

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    Day # 10
    240.0 = Today's Range . . . 173.0 = 30 Day Range . . . 5.0 = Renko Brick Size
    13.05.2016.png

    Slightly different setup - Still Renko Bricks and bbsqueeze but now with 8 and 21 EMA's plus GG-RiverFlow The vertical Open Close lines are generated with Session Open V-Line Indi - you have to open the hood and add more lines depending on how many you want to display.

    New set-up is in preperation for me to resume my challenge on Monday

    Not too sure about the Pivot lines though - trying TzPivots found on this website
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  4. Maverick

    Maverick Master Trader

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    Would you believe it . . . The Germans are having a holiday on Monday . . . So I need an alternative

    ALL.png

    But which of the eight ?
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  5. Enivid

    Enivid Administrator Staff Member

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    GBP/JPY FTW!
     
  6. Maverick

    Maverick Master Trader

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    Not sure about what you mean with FTW I am only aware of WTF order of the letters :)

    Appreciate your input BUT what was you decision it based on ?

    I had all but decided on "Cable" (2 spread) which is moving pretty much the same as the "Gopher" (4.1 spread) BUT with half the spread

    GBPJPYUSD.png

    Looking at the ADR's

    GBPUSD - 5/103 - 10/121 - 20/125 - 30/127

    GBPJPY - 5/195 - 10/178 - 20/278 - 30/222

    H'mmm . . . Low Spread vs High ADR

    Decisions - Decisions ?
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  7. Maverick

    Maverick Master Trader

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    Bad English especially as it is my native tongue - lets try . . .

    Appreciate the input BUT what was your decision based on
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  8. Enivid

    Enivid Administrator Staff Member

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    FTW = For the win!

    As for GBP/JPY, I just see it is clearly ready for a bearish breakout on D1, that's why I recommend it rather than GBP/USD.
     
  9. Maverick

    Maverick Master Trader

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    H'mmm . . . Both the H4's are showing the end of a squeeze

    Will see what happens to both of them BEFORE Frankfurt opens
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  10. Maverick

    Maverick Master Trader

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    It's only when you put the two options together that you see the advantage of one over the other.
    Looking at GBPUSD with GBPJPY OHLC they look very much alike

    H1.png

    BUT . . . when you look at the same with Renko

    Renko.png

    GBPUSD - London Open to New York Open = 5 hrs = 25 Bricks = 125 Pips

    GBPJPY - London Open to New York Open = 5 hrs = 70 Bricks = 350 Pips

    GBPUSD - New York Open to Chicago Open = 1 hr = 18 Bricks = 90 Pips

    GBPJPY - New York Open to Chicago Open = 1 hr = 37 Bricks = 185 Pips

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  11. Maverick

    Maverick Master Trader

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    Should have recorded these figures at the same time :(

    GBPUSD - Franfurt Open to London Open = 1 hr = 13 bricks = 65 Pips

    GBPJPY - Franfurt Open to London Open = 1 hr = 21 bricks = 105 Pips

    GBPUSD - ALL DAY = 24 hr = 98 bricks = 490 Pips

    GBPJPY - ALL DAY = 24 hr = 281 bricks = 1405 Pips

    I could go on BUT I have made the point . . . at least to me . . . GBPJPY is worth the extra spread.
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  12. Maverick

    Maverick Master Trader

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    Monday 16 May 2016

    Bank Holiday.png

    I was going to trade the GBPJPY thinking it was Bearish (Sell) BUT it kept going up and up all day proving me wrong - so I never got in :(

    Been a different story if I listened to myself and traded what I saw OR had stayed up and caught the Tokyo open (Green Line)

    GBPJPY_16.05.2016.png

    C'est la vie
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  13. Maverick

    Maverick Master Trader

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    watch this space.jpg
     
  14. buzzfxbroker

    buzzfxbroker Trader

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    I reckon you have learnt an awful lot through doing this process, very valuable if you ask me.
     

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