Hi to all,
I have been trading Big E system and it has been very profitable but he made mention that he exits when the is a 5pip pull back candle of which i have spent days trying to understand what a pull back candle is but still to no avail.
He explain about it in the link below:
http://www.forexfactory.com/showthre...11188&page=207
heres his own statement
when trading the longer time frames...
if a candle wick pulls back 5 pips... I exit the trade. Why, because on higher time frames when the wick pulls back it's often 15-30 pips or more.
I can exit at a 5 pip pull back and keep the other 10-25 pips for myself. And if the trade continues ... the pips I kept are more than it's cost to re-enter. On the longer timeframes I might enter and exit each candle thats long... even if their side by side candles.
If you do this every month you'll earn a hundred or more pips you get to keep. It adds up fast.
This always works... especially on longer candles...
can someone plz explain better
Thanks in advance
Franklin
I have been trading Big E system and it has been very profitable but he made mention that he exits when the is a 5pip pull back candle of which i have spent days trying to understand what a pull back candle is but still to no avail.
He explain about it in the link below:
http://www.forexfactory.com/showthre...11188&page=207
heres his own statement
when trading the longer time frames...
if a candle wick pulls back 5 pips... I exit the trade. Why, because on higher time frames when the wick pulls back it's often 15-30 pips or more.
I can exit at a 5 pip pull back and keep the other 10-25 pips for myself. And if the trade continues ... the pips I kept are more than it's cost to re-enter. On the longer timeframes I might enter and exit each candle thats long... even if their side by side candles.
If you do this every month you'll earn a hundred or more pips you get to keep. It adds up fast.
This always works... especially on longer candles...
can someone plz explain better
Thanks in advance
Franklin