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- #4,661
- Apr 4, 2011 8:17am Apr 4, 2011 8:17am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Hi
Im posting a trade after a long time, so in the first chart i took the trade on the touch of the ema 10 on EU 15TF price 1.4183, the trade goes in my direction and reverses in the next candle touches the 10 again where I'm taking 1 more lot.
I'm adding the dance trailing stop in my chart and switch to 1 minute TF the script is trailing the trade closely as you can see in chart 2 and finaly I got stoped at 1.4166 which is +34 out of two lots.
The reason I switch to smaler timeframe is that the dancetrail was giving me a lot BE trades and...
You are allowed to fall but you are imposed to get up!
- #4,665
- Apr 5, 2011 5:20am Apr 5, 2011 5:20am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #4,666
- Apr 5, 2011 5:33am Apr 5, 2011 5:33am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Which Dance rule applies to your trade?
Mark ... Everything you have been told is a LIE
Which Dance rule applies to your trade?
The reason for my posting was that I wanted a comment on switching to a lower time frame when using the dance trail script, it follows the trade with much tider SL than when it is placed to 15 min tf.
took a trade on eur/usd m15. I didn´t enter on the touch. i was waiting for a PA and then i saw a pin bar on the m15. After that the price was retrace a little bit and i was in.. SL was 1 Pip above the pin bar.. TP was Weekly Pivot..16 Pips =))
You are allowed to fall but you are imposed to get up!
I have Kostas Post concerning the way he mainly trades on the wall beside the monitor, as I find that is a great post for everybody.
This chart (even if the first two bars Ema10 touches were during Tokyo's session not easily tradable for European time) is perhaps one of the clearest explanations of those words I've ever seen.
The Master says
:
1. First touch of 10: take it
2. Second touch of 10: maybe if action looks strong
3. After that no more 10 touches
4. First touch of 35/50: take it
5. After that no more 10 or 35/50 trades.
6. Wait for higher TF 10 (assuming steps 1 - 5 were on M15, then this is for H1 or H4
7. First touch of higher TF 10: take it
etc.
etc.
etc.
Look at the chart, adding at the 3 first entries (steps 1 to 4) you would have done a great job for the day, with zero DD (and the way down did not finish yet)
Simple, Clear, just great !
This chart (even if the first two bars Ema10 touches were during Tokyo's session not easily tradable for European time) is perhaps one of the clearest explanations of those words I've ever seen.
The Master says
:1. First touch of 10: take it
2. Second touch of 10: maybe if action looks strong
3. After that no more 10 touches
4. First touch of 35/50: take it
5. After that no more 10 or 35/50 trades.
6. Wait for higher TF 10 (assuming steps 1 - 5 were on M15, then this is for H1 or H4
7. First touch of higher TF 10: take it
etc.
etc.
etc.
Look at the chart, adding at the 3 first entries (steps 1 to 4) you would have done a great job for the day, with zero DD (and the way down did not finish yet)
Simple, Clear, just great !
I have Kostas Post concerning the way he mainly trades on the wall beside the monitor, as I find that is a great post for everybody.
This chart (even if the first two bars Ema10 touches were during Tokyo's session not easily tradable for European time) is perhaps one of the clearest explanations of those words I've ever seen.
The Master says
1. First touch of 10: take it
2. Second touch of 10: maybe if action looks strong
3. After that no more 10 touches
4. First touch of 35/50: take it
5. After that no more 10 or 35/50 trades.
6....
You are allowed to fall but you are imposed to get up!
When following a trade we (I speak always firstly to myself of course 
) should think where it will be the next possible point for a change in direction for an exit.
I just opened Eur / Usd M15 only and saw that strong up move, after a nice short move.
Looking for the reason I just needed to look at the H4 chart.
4. First touch of 35/50 : take it !
And I would add especially if :
a) they are "on top of each other"
b) it is in confluence with a RN
c) and (you do not see it here but just need to swith your chart) with a 2 bars retracement to the Ema 10 on Daily....
On those TFs there is a lot of power.
If they "wish to react" they do it with the big R (eact).
) should think where it will be the next possible point for a change in direction for an exit.I just opened Eur / Usd M15 only and saw that strong up move, after a nice short move.
Looking for the reason I just needed to look at the H4 chart.
4. First touch of 35/50 : take it !
And I would add especially if :
a) they are "on top of each other"
b) it is in confluence with a RN
c) and (you do not see it here but just need to swith your chart) with a 2 bars retracement to the Ema 10 on Daily....
On those TFs there is a lot of power.
If they "wish to react" they do it with the big R (eact).
- #4,676
- Apr 5, 2011 10:00am Apr 5, 2011 10:00am
I have Kostas Post ...
The Master says
1. First touch of 10: take it
2. Second touch of 10: maybe if action looks strong
3. After that no more 10 touches
4. First touch of 35/50: take it
5. After that no more 10 or 35/50 trades.
6. Wait for higher TF 10 (assuming steps 1 - 5 were on M15, then this is for H1 or H4
7. First touch of higher TF 10: take it
etc.
etc.
etc.
Look at the chart, adding at the 3 first entries (steps 1 to 4) you would have done a great job for the day, with zero DD (and the way down did not finish yet)
Simple,...
Thanks Whenever!
Luck occurs when preparation meets with opportunity.
Here is what happens when you trade while working and can't stay focused. The chart below shows my first two GBP/USD positions by the time London market opened.
1. Entered at fisrt touch of 10 M15. Winner with +15!
2. Entered at first touch of 35/50 M15. It was a winner with +17 but my TP was higher (first mistake) and by the time I decided to close manualy at +17 price dive 50 pips at the opposite direction. Wonder why? Because it was news time (second mistake). It is completely my fault and it is unacceptable for me to make these mistakes!
Regards
Iero
1. Entered at fisrt touch of 10 M15. Winner with +15!
2. Entered at first touch of 35/50 M15. It was a winner with +17 but my TP was higher (first mistake) and by the time I decided to close manualy at +17 price dive 50 pips at the opposite direction. Wonder why? Because it was news time (second mistake). It is completely my fault and it is unacceptable for me to make these mistakes!
Regards
Iero
You are allowed to fall but you are imposed to get up!
