raczekfx,
shorted usd/jpy at 117.90 and now is a free trade.
I usually breakeven trade at 20-35pips profit range.
I am still amaze that u ented the jpy trade last fri... u have balls.
Total 3 trades in. Shorted jpy,chf and long gbp.
- #981
- Oct 2, 2006 10:27am Oct 2, 2006 10:27am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
- #983
- Oct 2, 2006 10:37am Oct 2, 2006 10:37am
raczekfx,
U have been using 3 'units' for a position while i used 2 'units'.
I intend to use 3 units soon... like what u did by closing 1/3 of position to reward yourself.
Wish everyone success here... and by far, this method is the best and safest to trade IMO. The daily chart projection is
U have been using 3 'units' for a position while i used 2 'units'.
I intend to use 3 units soon... like what u did by closing 1/3 of position to reward yourself.
Wish everyone success here... and by far, this method is the best and safest to trade IMO. The daily chart projection is
The future depends on what we do in the present.
- #985
- Edited 11:13am Oct 2, 2006 11:02am | Edited 11:13am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
I was using 2 units initially but moved to 3 as my account grew. 3 units give me more flexibility.
To be honest, I used something similar to Mouteki way of trading in the past (read his thread if you haven’t yet), but got to many false break outs. Maybe, I was doing something wrong at a time. Trading TL touches and bounces, near good support/resistance levels on daily, gave me the edge and comfort, I needed.
Last two trades on cable, one short near 1.9060 and second long trade near 1.8660 only made me more confident, I'm on the right track. Need to confirm few more details with pro traders on this board before committing further though...
compro99, this method might look safe to some, but please, keep it in mind, this is an aggressive way of trading. Unless you had pure bago method in mind (no TL touches and bouces)
To be honest, I used something similar to Mouteki way of trading in the past (read his thread if you haven’t yet), but got to many false break outs. Maybe, I was doing something wrong at a time. Trading TL touches and bounces, near good support/resistance levels on daily, gave me the edge and comfort, I needed.
Last two trades on cable, one short near 1.9060 and second long trade near 1.8660 only made me more confident, I'm on the right track. Need to confirm few more details with pro traders on this board before committing further though...
compro99, this method might look safe to some, but please, keep it in mind, this is an aggressive way of trading. Unless you had pure bago method in mind (no TL touches and bouces)
raczekfx,
U have been using 3 'units' for a position while i used 2 'units'.
I intend to use 3 units soon... like what u did by closing 1/3 of position to reward yourself.
Wish everyone success here... and by far, this method is the best and safest to trade IMO. The daily chart projection is
- #987
- Oct 2, 2006 11:18am Oct 2, 2006 11:18am
- | Joined May 2006 | Status: Trader | 1,043 Posts
Trading a break of 117.45/50 should also be a profitable from a daily perspective. I like to get in trades early and then ride it. It seems to be easier for me trading that way.
Cool runnings mate.
- #988
- Oct 2, 2006 11:20am Oct 2, 2006 11:20am
I was using 2 units initially but moved to 3 as my account grew. 3 units give me more flexibility.
To be honest, I used something similar to Mouteki way of trading in the past (read his thread if you haven’t yet), but got to many false break outs. Maybe, I was doing something wrong at a time. Trading TL touches and bounces, near good support/resistance levels on daily, gave me the edge and comfort, I needed.
Last two trades on cable, one short near 1.9060 and second long trade near 1.8660 only made me more confident, I'm on the right track. Need to confirm few more details with pro traders on this board before committing further though...
compro99, this method might look safe to some, but please, keep it in mind, this is an aggressive way of trading. Unless you had pure bago method in mind (no TL touches and bouces)
raczekfx,
Thanks for your reply. Like you, i used daily charts to scan for possible pairs to trade for the week. I then put text/sound alerts on using Bago criteria on 30mins and 60mins chart for entry and exit. So far, i have been using 1hr for entry/exit only. But once 30mins alerts comes, u have to prepare all the position size, entry pt etc. All must be prepared beforehand.
I do not enter aggressively like yr bounces of the project TL/fibonacci. I am still monitoring this way of entry.. but it gave lot of edge and IMO, u have to breakeven the trade asap when u got reasonable amt of profit. I love to cover my backside...
(Risk mgt)Cheers to all !
The future depends on what we do in the present.
Are your sound alerts for MT4. If so, Care to share?
raczekfx,
Thanks for your reply. Like you, i used daily charts to scan for possible pairs to trade for the week. I then put text/sound alerts on using Bago criteria on 30mins and 60mins chart for entry and exit. So far, i have been using 1hr for entry/exit only. But once 30mins alerts comes, u have to prepare all the position size, entry pt etc. All must be prepared beforehand.
I do not enter aggressively like yr bounces of the project TL/fibonacci. I am still monitoring this way of entry.. but it gave lot of edge and IMO, u have to breakeven the trade when u got reasonable amt of profit. I love to cover my backside...
Cheers to all !
- #991
- Oct 2, 2006 11:45am Oct 2, 2006 11:45am
Driftwood it looks to me that you are adding many indicators.
What I use is the original Bagovino indicators which are: 5 and 12 EMAs and RSI 21 and I add Fibs sometimes when I cannot feel where the market is going.
Bagovino himself said that he does not use vegas but some others do.
I have not read the whole thread so I might have missed what you are saying.
However I can tell you that the original Bagovino method is working fine for me and I am trading the major (12) pairs
- #992
- Oct 2, 2006 11:50am Oct 2, 2006 11:50am
Are your sound alerts for MT4. If so, Care to share?
My mq4 is not a pure Bago alert.
it alerts at 5ema crossover 12,21 and 34 ema. FYI.
The future depends on what we do in the present.
- #996
- Edited 7:34pm Oct 2, 2006 7:10pm | Edited 7:34pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Kev, Kev, you'd like to know everything at once, bro
You know my entries and initial stops; let's spend some time mastering those setups first. When I think, time is right and I'll have something good to share, I will. If you must absolutely know, let me just say, I have locked in another +100ps for my remaining 2/3 and my trailing SL equals 100pips right now.
cheers,
You know my entries and initial stops; let's spend some time mastering those setups first. When I think, time is right and I'll have something good to share, I will. If you must absolutely know, let me just say, I have locked in another +100ps for my remaining 2/3 and my trailing SL equals 100pips right now.
cheers,
Raczekfx, any advice/philosophy regarding stop loss here?
Regards, K
- #999
- Oct 3, 2006 7:04am Oct 3, 2006 7:04am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
raczekfx,
Do u trade/monitor Eur/Cad ?
I think it has good potential like Gbp/Jpy... u will love it
, but due to it's volatility, I don't use bago for this pair.