is this is a valid trade?
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DislikedYou can check the MTF Moving average and enter only on this direction, or just follow the market direction like i do, but if you trade against the trend, be very careful, don´t forget your stop losses, so if the candles are green i go long, if the candles are red i go short, if the direction of my trade is in the same as the MTF Moving average i might hold the trades a little longer, hope this clarifies, like i said my english is not very good, and i´m sorry if you are having problems understanding this, regards
Robby
i´ll try to picture itIgnored
DislikedGood explanation!!! Even I have understood
Could you explain, where we will take profit. If I can not use trailing stop. Just your mind about it...Ignored
DislikedHey Robby your english is very good. My only question has to do with you saying enter only in the direction of the MTF moving average. Do you mean slope of this ma? or do you mean if 4hr is under this ma, then you only go short?
I am asking because in post #2 and #139, you are entering longs while the candles are under the ma and actually the slope of the ma is flat so I guess you are not using the slope. You say above if the candles are green you go long, but in post #2, you had pending buy at the 38.2 on a red candle.
I thought I understood...Ignored
DislikedYour question is not stupid, but already answered before, here you go:
Try to take trades in the direction of the MTF MA (because it is safer to go with the trend), if price below=downtrend, if price above=uptrend, I TAKE BOTH, LONGS AND SHORTS, but when i trade against the trend i am careful and watch the trades closely, i hope that helps, regards
RobbyIgnored
DislikedHi All,
Just to clarify what Robby is saying about fib movement. On the 4 hr gbp chart we have a fib pulled in the up direction. Price comes down hits the 61.8% retrace and starts going north and it breaks the 00 Level of the fib. Now it becomes a waiting game until the next swing high is formed which may be some where near the yellow arrow. Once the swing high is formed and we start to see a pullback then we would pull the fib up to points A-B and wait for the retrace to hit the 38 and 61 fib for a long entry.Ignored
DislikedRegarding Trailing Stops:
I don't see Alpari software allowing Trailing Stops.
I found an old FF link , but don't know if the EA has been updated with fixes or if the EA has an expiration date.
http://www.forexfactory.com/showthre...05#post2142805
Does anyone have an EA to allow Trailing Stops?
ThanksIgnored
Dislikedso you mean it would be better to watch for bigger moves?
you said that we draw the fibs until there is a correction of 38.2 or 61.8% right? wouldnt that validate the example i showed in my pic?
there is a move down it retraces but got killed.
i think that is the main problem a lot of traders have, which movement to trust and where to enter properly.Ignored
DislikedRobby,
First of all, unless you say that english is not your first language, just looking from your posts, there is no way to say that.
You are communicating your thoughts to us here,and you are doing a great job in that
Your reply is precise and the steps are clear .
After reading your reply and the steps you have mentioned, it is beginning to become clearer for me (where to draw fibs).
I'll still follow this thread for examples and look at the pictures to compare mine as well.
After looking at your steps, just one more...Ignored