Someone asked me how many bars to wait before you cancel the trade. I said usually 2 or 3 but I have taken trades after 9 or 10 bars pass with exception. This is one of those exceptions, when they consolidate before news releases.
Jim
Jim
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Dislikedhi Jim.
Fascinating system...all positive pips for me using your technique...
im still trying to familiarize myself to the flow of the system before i start using BE in order to let the rest run on.
regarding your last post....do you mean that you leave the "pending limit order" only for about 2-3 bars prior to canceling it if the market isn't moving and your triggers aren't hit?Ignored
Dislikedhi Jim.
Fascinating system...all positive pips for me using your technique...
im still trying to familiarize myself to the flow of the system before i start using BE in order to let the rest run on.
regarding your last post....do you mean that you leave the "pending limit order" only for about 2-3 bars prior to canceling it if the market isn't moving and your triggers aren't hit?Ignored
DislikedOK, what's the deal with the Yen? It's off on EURJPY and USDJPY, much to my regret. ;-)Ignored
QuoteDislikedDecember 18, 2008 04:13 ET (09:13 GMT)
Japan Finance Minister Shoichi Nakagawa on Thursday said foreign exchange intervention is a policy option, although he declined to comment on whether the government will intervene.
"I would like to refrain from commenting on whether or not we will intervene, but I do have the means," Nakagawa said at a press conference, suggesting he considers yen-selling intervention as a policy option.
DislikedIB USDCHF and USBJPY
This will be interesting for me as I've been using a Trend Follower system (http://www.forexfactory.com/showthread.php?t=40325) with limited success. They've both kicked in on USDCHF so an ideal opportunity to compare.Ignored
DislikedEUR/USD IB . Not sure about a long though because of the high of the day and Daily R2 not too far away, would have to go through those before I take it. Short might have a bit more room, quite a way down to R1 and the 89 is way way down.Ignored