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- Nala66 replied 18 hr ago
This is fine, I completely understand what you are saying and if it works for you then that is great. There are many ways to trade and finding a method that works is of paramount importance. I am glad you have found a way.
- Nala66 replied 40 hr ago
Enuff said for today. Catch y'all Monday
- Nala66 replied 40 hr ago
I don't know why this is posting double?
- Nala66 replied 40 hr ago
Here is an example of getting the trade started in the form of a diagram... (without the words)
- Nala66 replied 40 hr ago
Here is an example in diagram form of getting the trade started... image
- Nala66 replied 40 hr ago
Yes, and the 1% loss is a maximum. Mostly it will be something like 0.25% or even BE+1 providing the target distance is a 40 pip plus distance. Again, though we can only get what the market gives and if we have to settle for a 1% profit then so be ...
- Nala66 replied 41 hr ago
At last, now I can solve your HEDGE problem. If you are at all worried about the trade stick a HEDGE on it. If the HEDGE goes on to stop out your original trade the HEDGE wins. If the original trade turns to stop out your HEDGE then your trade wins.
- Nala66 replied 41 hr ago
Sorry I have been so long, but I cannot find the reference to this in any of my books, I know I have read it in one of them. You cannot continue to infinity. You can no longer trade when you cannot cover the cost of a lot. There is stuff missing ...
- Nala66 replied 41 hr ago
My initial target is 40 pips and having moved my stop to the div I may be risking just 5 pips or just 0.25%. Risking 0.25% for a gain of 2% is a risk reward of 1:8 Adding to my trade can compound the trade to 1:20 easily.
- Nala66 replied 42 hr ago
Kerrect. I enter with target and stop. Move stop to just short of the div. Then move the stop again to BE+1 as price approaches the EMA. Then start to look for additional entries. I may extend my target if time permits.
- Nala66 replied 43 hr ago
I say all the EMA's but that is not correct because each EMA corresponds to a different time frame, we may be just testing that time frames average.
- Nala66 replied 43 hr ago
No, we don't wait. We have already waited for the EMA's to bunch up. We look for the signal to start them spreading again. If we are wrong, we lose a little bit. If we are correct, we compound the winnings. We want to see a bear div take it across ...
- Nala66 replied 43 hr ago
3) We need to consider when to trade and when it is wiser to not do so. For example, if price is trading at the EMA of the higher time frames, then it just becomes guesswork as to which way it will move. Break or bounce. Often there is a power ...
- Nala66 replied 45 hr ago
OK I am back and see no questions so far.
- Nala66 replied May 10, 2024
I think we need a little discussion on profit potentials because it is all very well to plot an annual outcome, but the reality is often quite different. 1) There are many days throughout the year I simply do not trade. I am looking for all the ...
- Nala66 replied May 8, 2024
This move down may be just a hook retest of the div.
- Nala66 replied May 8, 2024
I'm stopped out for +10
- Nala66 replied May 7, 2024
First trade no good. Second trade did OK. image
- Nala66 replied May 6, 2024
This tight range is woeful, will look in later to see if US makes a difference. image