DislikedHowever what I don’t understand was what I originally asked. Maybe I am not explaining myself correctly. I will try to work it out myself. Thanks for tryingIgnored
Maybe I didn't catch your doubt at the first time.
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DislikedHowever what I don’t understand was what I originally asked. Maybe I am not explaining myself correctly. I will try to work it out myself. Thanks for tryingIgnored
DislikedI think we're seing a regression in the rules' learning
Tonirai..I must commend you on your understanding of all the nuances of the rules and your willingness to steer us back on course when we go astray as some of us still do on some of the more subtle aspects of the rules. I wish it was as easy somtimes as swapping thumb drives(good info for bad). Thanks for all your clarifications. This thread is one of the few that has not deteriorated into the abyss due to yourself, Hiranja, Harold and Sterlings efforts in keeping...Ignored
DislikedThe SL for the pending Sell trade is set at 8 pips above the high of the Reversal bar (in my case this is 1.4954), which is why we wait for the close of the Reversal bar before placing the pending order...................otherwise we would not know where to put the pending order SL. I hope this helps.Ignored
DislikedPipsnagger,
Thank you for the support!
It's not an easy task, fortunately there's more than one person to clarify things.
Speaking of that, I wonder where Sterling is? I'll go to sleep soon!Ignored
DislikedYou would have still been in the big short trade on IBFX from what I see, trade would have been entered as a reversal on the 28th from 1.5252, would be still sitting on around 380-400 pips now. I won't post a chart because IBFX charts confuse things for others.Ignored
DislikedPlease repost what you've originally asked (I'm a little lost in so many posts).
Maybe I didn't catch your doubt at the first time.Ignored
DislikedLOL it is a job to answer all the questions, Sterling is on his way home i just talk to him so he should be in to the room soon. I hope that you had some good trades today and hope that you have a good night.Ignored
DislikedI will try to explain my question better. on post 1971 by Kristo. A sell stop (red Line) was placed above the reversal bar (blue arrow) when reversal bar had finished forming. price retraced. Had price not retraced and gone onto a higher level it would have sold out and stopped the trade also put our trade in the wrong direction. that s what is confusing me. I hope I have explained it better for you.Ignored
DislikedThe red line isn't a sell stop - it's the SL for the pending sell stop.
So if the reversal bar wouldn't have retraced, and price kept going up on the next bar, nothing would have happenIgnored
Disliked1) how did you end up with the choice of the EMA? 5 or 10?
2) what do you think about leaving everything as it is but adding a rule to put SL to breakeven when we're +100 pips? (buy and sell stops still triggers at the high/low as normal).
Wouldn't this save us many pips in ranging sessions?Ignored
DislikedMoving forward, lets assume for a minute that price moved downwards now and stopped out our current buy trade whilst at the same time triggering our pending Sell Stop order. We would then be Short. Consider where you would want your stop loss under these circumstances, given that this is a system built around Support and Resistance. Also, if price was to move in this fashion, by definition, a new Setup bar (to go Long) would most likely be formed and therefore your SL would be in the correct position. We would also be placing a pending buy stop...Ignored