DislikedYesterday there was IB on usd/chf I sold at 0.8115 TP at 0. 8070 made my easy 45 pips this morning! Vola!! LOlIgnored
so according to the definition a buy stop would be appropriate
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Dislikedwhy did you sell usd/chf it is above 50 ema, isn´t it?
so according to the definition a buy stop would be appropriateIgnored
DislikedHi Sandy and all,
Sorry I'm too lazy to go find the quote, but I remember reading that when Kelvin was explaining his 2-step setup that he set a 70 pip SL for the jpy pairs (I'm guessing that 30 is cool on u/j, though) and 30 pip SL for all other pairs. (don't think he trades gold or silver, but I'm not sure.. Kelvin?)
about the u/chf trade yesterday.. yes, there was an IB, but price is clearly above 50ema so if we are trading PTT, it should be buys only, I think. That sell paid off, but it was a countertrend trade, not PTT. Kelvin, is this...Ignored
DislikedI am long on aud/cad at 1.0469 TP 1.0531 IB today. Sl at 1.0434.Ignored
DislikedYou entered somewhat early. If you actually entered and didn't just put in a stop order
Entry is supposed to be with stop order at the high/low of the IB. So, once it passes. The whole point of an IB being that it shows a tight range, and the stop order is put to hopefully catch a breakout of that and a continuation of the trend.
So, by entering early, what you kind of did is entered long at the top of a range, if it keeps ranging down your going into uneeded drawdown. Maybe getting stopped out and then it continuing anyway....Ignored
DislikedOur day begins at 5 pm EST. So what you see is a daily chart showing position at 5 15 pm today.
IB high was 1.0474 when I longed at 1.0469 fxdd has 10 pips difference .
I dont want to lose more than 30 pips as He said here.
Lets see what happens.Ignored
DislikedHi all,
I went back and read all of Kelvin's posts again and I did not see any posts that said he uses a 70 SL on the jpy pairs. I wonder where I got that from.. maybe someone else said it? Anyway,
KumoDragon,
what pairs have u traded so far? or are currently trading with PTT? My SL on u/j just got hit for the second time and I put in another short stop order at the same price. Maybe it'll drop for good this time..
altoIgnored
DislikedI think I may have found the perfect way to trade for me, most stress free trading I've ever done and easy if then else choices.Ignored
DislikedSteve,
Just to confirm my understanding...all 3 of your trades were countertrend and that you put a buystop and a sellstop on the IBs in this case.
Looking at the charts that is how it appears to me. Am I misunderstanding something.
thanks.Ignored
DislikedSteve,
Thanks for your insight. I concur with your concept of trend vs actually using the 50 as hard and fast.
Did you just use a sellstop based on the trend being down?
Thanks.Ignored
DislikedHere is "yet another" IB indicator. I just created this one so I could see the candles highlighted including the Highs and Lows.Ignored