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4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedHey Guys
This is not exactly ontopic but more of a general thing, but maybe you can find anything wrong on my trade today.
http://www.rocketrider.de/audusd.jpg
I went long in AUD/USD on the candle which has the lowest low in this chart. To that time price was just above the 365 SMA. Before that there was already a bullish engulfing pattern and the MACD had formed a roundbottom and there was already a green line in it. Because all candles closed above the SMA I figured that there is a good possibility that this is a bottom and got in with a TP at the 200 SMA (+~100 Pips).
I thought a lot of possible stop fishing moves under the SMA so I chose a SL 30 Pips under the 365 SMA. Though I did this I still got stopped out. I have a problem taking that big of stop losses because I never know how far the stop fishing move is about to run. As I know now, I would have been right going long there....Now the question
Do you have any strategy against such moves?
Maybe someone can help me with this
Thanks ....
ChrisIgnored
DislikedHey Guys
This is not exactly ontopic but more of a general thing, but maybe you can find anything wrong on my trade today.
http://www.rocketrider.de/audusd.jpg
I went long in AUD/USD on the candle which has the lowest low in this chart. To that time price was just above the 365 SMA. Before that there was already a bullish engulfing pattern and the MACD had formed a roundbottom and there was already a green line in it. Because all candles closed above the SMA I figured that there is a good possibility that this is a bottom and got in with a TP at the 200 SMA (+~100 Pips).
I thought a lot of possible stop fishing moves under the SMA so I chose a SL 30 Pips under the 365 SMA. Though I did this I still got stopped out. I have a problem taking that big of stop losses because I never know how far the stop fishing move is about to run. As I know now, I would have been right going long there....Now the question
Do you have any strategy against such moves?
Maybe someone can help me with this
Thanks ....
ChrisIgnored
DislikedWordpad copy for those who have trouble understanding spoken English.Ignored
DislikedHi Chris,
. So, if
that doji's low was above your stop level you had a good chance of being stopped (easy for me to say after the fact). Since you were lookinng ahead, and thinking about the possibility of stop running, did you consider placing a limit order that would be executed at a better price which would allow you to have a smaller stop but still be below the doji's low?
PipsIgnored
DislikedHey Pips
Thanks for your answer
My stop was a few pips under the lowest low of the to that point created doji. It was already more than 30 pips away from my entry so I was afraid of moving it any further down. My tp was 100 pips over my entry (btw. already reached now) so a SL of 50 pips would still have been ok in terms of Risk/Reward Ratio, but I was afraid of loosing that much money.
I am now thinking about getting in with just half a lot, so I can take a wider SL and maybe addon the other half if the trade goes into my direction...
Regards
ChrisIgnored
DislikedAs we are anticipating a short move from euro, but the news are coming out. What do you guys will react? Let's say the short signal fullfil, news coming out in an hours time? Are you all going to short or stay put?Ignored
DislikedI don't play the news because the risk is too high, ya you may win a few but why not play when it's slower and you have more time to react? If you want to have a heart attack stick with the news trades.Ignored
DislikedNow lets talk about how you are trading, you sound like you are trading too heavy or w/o the cash. If you can not lose 30-40 trades you need to stop now and save up because you will be trading in fear, why not paper trade?Ignored
DislikedActually I'm papertrading. The above posted trade was done on a demo account, so there was no real money involved. But I treat this "play"money like real money to achieve the most realistic outcome on this whole papertradething . However I see no mistake in the wish to protect my money, while doing a countertrend trade.
Below the low of the doji there were no support lines I could make use of and I even think such stopfishing moves do not care a lot about these lines because it is price action which is produced by just a few people which lots of financial power with the aim just to get the stops and make money with it.Ignored
DislikedYou can not trade in fear or without money to lose, you are starting at a 80% chance at losing. I know I did the same thing lost over $30,000 when I would stop out quick over and over or let EMOTION get me. Look at the charts use a 1:1 stop if the risk is too high pass the trade. If you go back and look at my trades I posted you see my risk is say 30 my gain is 45+. If you do that and win 50% you make money, now what if you win 7 and lose 3? Now lets talk about how you are trading, you sound like you are trading too heavy or w/o the cash. If you can not lose 30-40 trades you need to stop now and save up because you will be trading in fear, why not paper trade?Ignored