DislikedOk, thank you. And what ATR will you use for the weekly open and close? Also the 4week ATR smoothed with the 4EMA?Ignored
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DislikedOk, thank you. And what ATR will you use for the weekly open and close? Also the 4week ATR smoothed with the 4EMA?Ignored
DislikedThanks for the response. You are very right. I should have taken the long trade at those weekly levels.Ignored
DislikedSquare 1 here is a chart from today EU. I have a green line at the London open price. Notice price went directly to the previous week close. This is what caused the support that you are describing. The purple line is the privious week close. Based on your charts your broker is GMT+2 therefore 10:00AM on your chart is London open currently. I have labeled the LO on the chart I am posting. I have not traded EU for almost two weeks. It looks as though it is starting to behave again though. I will post my yen trades.Ignored
DislikedHere are my trades from today. I entered UJ and GU at almost the same time. GU was a fast loser so I entered a pending for EJ and went to sleep. UJ and EJ both worked nicely for a little over 2R each. One R lost obviously on GU. I don't like to have more than two trades open at a time.
The loser:
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The winners:
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DislikedI see. thanks, but...that doesn't obey your method of wating for two candles to open and close away from the daily open price before you make an entry.Ignored
DislikedI see. thanks, but...that doesn't obey your method of wating for two candles to open and close away from the daily open price before you make an entry.Ignored
DislikedThey key to this is capitalization. I have an account that has a 2xx,xxx balance so four or five percent per week is plenty. You cannot do what I do with a twenty thousand dollar account.Ignored
DislikedYou had hooked some of us, now you are throwing us off your boat back into the waters. IMHO, I think your method can even be traded with a $5K A/C as long as one knows the levels he can place his trades at and is disciplined with his daily target. I have to mention that one with that A/C cannot afford the luxury of your resting hrs.Ignored
DislikedRegarding your last EJ winner I have a question regarding the SL and TP:
The ATR(5) on Oanda today of EJ is 182 pips. The EMA(5) of the ATR(5) is about 204 pips.
So 20% would be a SL of around 40 pips, 25% would be around 50 pips.
As I see on your chart you gained around 75 pips for this EJ trade.
So 2R would be a gain of 80 to 100 pips. Can you guide me to my error in reasoning?Ignored
DislikedWhen ranges compress I generally won't let the stops get too small and won't let them get too big when range expands. This is why I stress that people should do their own testing. So that they can learn the nuances of each pair.Ignored
DislikedOn the general topic of choosing which pairs to focus on - are you looking at previous days behavior ie is pa respecting close/open/high levels nicely to decide which pair is most likely to continue bouncing nicely? Or are you looking at all your pairs near trade time and deciding just before which pair you are going to put your trade on?Ignored
Disliked.... I have an account that has a 2xx,xxx balance so four or five percent per week is plenty. You cannot do what I do with a twenty thousand dollar account....
./QUOTE]
Hey again,
4 to 5 % per week is plenty... 4 % of 200000 k is 8k... i think that would be plenty enough for anyone honestly, unless you are drinking coffee from a golden cup, enriched with golden coffee beans.. I wouldn't mind checking out a trade explorer, would be good to see which levels you take for my own research and would save you typing up more...Ignored
Disliked
I'm considering it. Would need to add a couple of hundred to the account to make the trade management realistic and I do other trades which I haven't touched on in the thread and I am not sure I want to make public. Not sure yet. You are right though it would make my life a little simpler.
Marry my wife then tell me how much is enough. I was just forced into buying another house.Ignored