Long GBP/JPY @ 239.37
S/L = 238.79
1-hour chart not looking its greatest, but I'm ok with taking chances.
S/L = 238.79
1-hour chart not looking its greatest, but I'm ok with taking chances.
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DislikedHey alcastro,
I don't have the time right now to completely spell it out for you, but I just made a post in lever70's thread that should give you the gist of how I'm trading. This can be found here
Good luck,
KevinIgnored
DislikedHi Kevin,
I'm very new to this business and trying to learn from people who really know what they're doing like yourself. I had a look at the Lever 70 thread where you explain your method i.e reading the charts from left to right, vice versa for trend. When I tried this recently the charts were all over the place and it was difficult to discern a trend. When it is like this do you stay out of the market ?
ThanksIgnored
DislikedHey alcastro,
I don't have the time right now to completely spell it out for you, but I just made a post in lever70's thread that should give you the gist of how I'm trading. This can be found here
Good luck,
KevinIgnored
DislikedSorry to trouble you Kevin,
Found your answer at lever70's:
"I try to include about 100 or so candles in my chart window."
Thanks
fewhillsIgnored
QuoteDislikedI was impressed by Kevin's method (which I saw in lever70's cornflower system). I spent sometime thinking about it. My conclusion is that using about 100 bars to evaluate general Trend direction (visually from left to right) is not much different from using a 100-SMA (Simple Moving Average). After all, simply put, the 100-SMA just compares the price of current bar with the price of 100-bars back. Then it must be that if the 100-SMA is moving up, the Trend is up and if it is moving down, the Trend is down. (may be lever70's 72-EMA won't be that bad either, because EMA moves somewhat faster than SMA and so it might be close to 100-SMA). So, the important thing seems to be the use of multiple timeframes for Trend.
May be when Kevin come back, he can check if the 100-SMA (or 72-EMA) direction in the latest bar matches the way he sees the Trends visually. If it is correct, it will be easier to follow for others, simplify the work to quantitative numbers and easy to reproduce. Then we can even apply minimum slope limits to avoid sideways/choppy pair.
Thanks Kevin for sharing your method.
-chandra
DislikedHi Kevin, firts time I've actually read your thread, quite impressive! Are you preminantly using the Cornflower system for entries and exits or using BB?
cheers
TrumpIgnored
DislikedHi Kevin,
Can I ask you when you use the cornflour system do you always wait for a pullback or if the trend is in the right directon do you just enter ?
ThanksIgnored