Regards
Max
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DislikedHello Eddie. In your post #1473 it's the indicator in the middle pane "JPY-Strong".
Regards
MaxIgnored
DislikedI would be lying if I said that I was comfortable with the situation.... will it reverse in line with "Steve's Law"?
Time will tell......
EddieIgnored
Dislikedmaybe i miss something..but can you tell me what "steve's law" is?Ignored
Disliked[FONT='Verdana','sans-serif']The entry for theses tow trades was supposed to be “by the book”(with the exception of the 10-point difference!), unfortunately, I was dead wrong! Those were devastating. A sharp, continuous reverse occurred. Any comments are welcome.[/font]Ignored
DislikedJeff - that is exactly why I introduced the 10 point rule.
It is so tempting to get in when all looks good but the difference in numbers is say 7 number (51 & 58).
As you will see from above I am in a bad trade for not following my own rule.. the reverse cost me 900 pips on the basket. This is slowly recovery but I was £3 away from a margin call at one point!
If it gets to 10 (maybe 9 with judgement) then it almost never reverses in a way that you cant close out some profit and finish ahead. Less than this can be risky.
Others may tell you...Ignored
DislikedIn addition to the 10-point rule, I think that above 90% (approaching or at Steve’s resistance) the entry can be very risky since the market might be in an oversold condition and a reverse (at any time) is due.
JeffIgnored
Edit: On thinking about it again, i think the first "rule" needs some consideration. Although RS_GROUP_JPY_V1.0 did show strong separation, it was also under 50%. I'm not sure at this point whether the separation (acceleration?) is any more important than it's absolute value.
Edit2. And the brokers are going to make a fortune on spreads with so many trades.
DislikedThanks damonl,
Sorry for my english.
So, you will open the basket trade when:
USD [strong] & JPY [weak] or USD [weak] & JPY [strong] is it ?
Thanks
KGIgnored
DislikedThanks damonl,
Sorry for my english.
So, you will open the basket trade when:
USD [strong] & JPY [weak] or USD [weak] & JPY [strong] is it ?
Thanks
KGIgnored
DislikedI would be lying if I said that I was comfortable with the situation.... will it reverse in line with "Steve's Law"?
Time will tell......
EddieIgnored