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STOP and Reverse

  • Post #1
  • Quote
  • First Post: May 20, 2016 9:23am May 20, 2016 9:23am
stop
and
REVERSE,



Hi guys

This thread is not the winning system. Anyone who copies any of my trades do so at their own risk.

I first got this idea from another thread call SAR ON THE 4 HR CHART. Which I was contributing to. But then I realised I was changing the rules so I've started this new Thread.

I'm still using the 4 yellow lines, But I'm not using the blue line or the red line. So that is a rule change
I'm using the one hour or the 30 minute chart to pick my entry point. So that is a rule change. Also I am closing my trades instead of letting them run all the time so that is a rule change. I am also moving the stop to take profit at a earlier stage.
I'm also only using three pairs EUR/GBP, EUR/USD, GBP/USD, the reason I'm only using three pairs is I want to get to know where these pairs go. I want to know when they are at the top of the price and when they are at the bottom of the price I just need to know how these pairs react to everyday life. I will be using the lot size 0.10
there will be two moving averages on my chart 14 period and a 4 period will also be an RSI which is a 14 period.

I will probably be only on the site 3 days of the week probably around 8 o'clock London open and about 2 o'clock New York open that London time.

Just another point as soon as we can we will make our stops smaller and even go to break even with them.

I will make a short video just to show you how I get an entry point,
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this is what my chart look like,
  • Post #3
  • Quote
  • Edited at 9:48am May 20, 2016 9:38am | Edited at 9:48am
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Inserted Video

have a nice weekend
Your yellow lines look like they box in the highest open and lowest H1 open of the day which is the foundation of my method.

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The method trades the reversal through these opens.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting TooSlow
Your yellow lines look like they box in the highest open and lowest H1 open of the day which is the foundation of my method. {image} {image} {image} The method trades the reversal through these opens.

You are right we are working on the over Sold and over Bought area
Trading the reverse.
I think it's very important to know where these areas are .
They are overlooked by a most traders. This is why I will be concentrating
on only three pairs. I'm hoping at the start of every week to clearly mark where these areas are on my charts . If you like to make a comment or suggestion on how to improve my system feel free. I will be dropping in on your thread to see if I can pick up any useful tips.
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thank you for your time.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
I have been a long time never post any message on FF. This is my first post and this thread apparently catch my attention. Why?

Because i am also trading in this similar way, by looking at overbought and oversold area, and support and resistance area to trigger the position. Anyway, looking at this thread to see what else could assist on my trading.

Thanks.
Quoting redfan
{quote} You are right we are working on the over Sold and over Bought area Trading the reverse. I think it's very important to know where these areas are . They are overlooked by a most traders. This is why I will be concentrating on only three pairs. I'm hoping at the start of every week to clearly mark where these areas are on my charts . If you like to make a comment or suggestion on how to improve my system feel free. I will be dropping in on your thread to see if I can pick up any useful tips.{image}{image} thank you for your time.
You are welcome to post on my threads.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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2nd week of testing

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Looking forward to see how you go with this new method redfan. Cheers.
JAGfx
£30.62 down with buy trade,
Stop and rev up and running.


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Going out now back in 4 hours


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profit from last trade £8.86 see last chart

new trade with stop and rev in place

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As I've only just started testing this from last week.
The rules are evolving as I go and I would like to make one point.
I am constantly moving my stoploss.
Soon as I can get to break even. and as soon as I can i move it to profit.
The market looks like it is going sideways to day.
I have not had much luck with my 3 pairs.
I can't seem to get my yellow lines in place because the market is going sideways. Profit for the day was £18.46 and loss for the day £58.22 equals £39.76 loss.
Hoping for better luck tomorrow.
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Would you please list your rules?
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • Post #19
  • Quote
  • Edited at 3:14pm May 23, 2016 2:35pm | Edited at 3:14pm
Quoting TooSlow
Would you please list your rules? Thank you.


It's not been a very good day for trading this system with the three pairs I picked.
In the last hour just noticed that one of the pair's started to move so I place my yellow lines on botton of each candle as it moved that gave me an entry point. There's no rule on stoploss because I move it to break even as soon as possible and then to take profit as soon as possible. It is at this point I look for the reverse trade and place a reverse trade where I place my take profit line so the trade comes down and hit's my take profit line it also hit's my reverse trade.
I hope this is a bit clearer.
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