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Trading is as simple as 1-2-3

  • #6,481
  • May 29, 2018 6:56am May 29, 2018 6:56am
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Short AN +5 locked and took the ride for around another +20.
  • #6,482
  • May 30, 2018 1:08am May 30, 2018 1:08am
yesterday many freighttrains made the trading not possible in my pairs. could only trade AU and NU with some profit.
trading is like dancing, don't think and just listen to the music!
  • #6,483
  • May 30, 2018 1:13am May 30, 2018 1:13am
How do we take the 5 pips and still remain in the trade when it continues going down....do we use a trailing stop that starts at 5 pips or do we take 5 and then open a new trade that trails
  • #6,484
  • May 30, 2018 1:25am May 30, 2018 1:25am
Short USDCAD for 5 pips....just wondering how to stay in these trades or just 5 and go onto the next one
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  • #6,485
  • May 30, 2018 1:49am May 30, 2018 1:49am
Quoting Inception12
How do we take the 5 pips and still remain in the trade when it continues going down....do we use a trailing stop that starts at 5 pips or do we take 5 and then open a new trade that trails
HAL and I use pretty much the same trade management by closing a large percentage 90% or so (your call) at +5 and then leaving the rest to run. That's the simplest way.

He can fill you in on the other subtleties he uses on top of that at times.
  • #6,486
  • May 30, 2018 1:57am May 30, 2018 1:57am
Quoting lemercenaire
{quote} HAL and I use pretty much the same trade management by closing a large percentage 90% or so (your call) at +5 and then leaving the rest to run. That's the simplest way. He can fill you in on the other subtleties he uses on top of that at times.
Thanks Lem as always...that makes a lot of sense. GOod trading to all
  • #6,487
  • May 30, 2018 2:21am May 30, 2018 2:21am
Quoting Inception12
{quote} Thanks Lem as always...that makes a lot of sense. GOod trading to all
The more you get to know your favourite pair(s), the more you will get a feel for which trade management woks for your style of trading.
  • #6,488
  • May 30, 2018 3:10am May 30, 2018 3:10am
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Short GU +5 locked same bar
  • #6,489
  • May 30, 2018 4:13am May 30, 2018 4:13am
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Short EJ +5 locked
  • #6,490
  • May 30, 2018 4:15am May 30, 2018 4:15am
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Short GJ +5 locked
  • #6,491
  • May 30, 2018 5:50am May 30, 2018 5:50am
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Long CF +5 locked
  • #6,492
  • May 30, 2018 6:35am May 30, 2018 6:35am
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The NZ, one I have stayed away from shorting today. However had one got on board the other way during Asia off that
1-2-3 low, one would be sitting nicely.
  • #6,493
  • May 30, 2018 7:54am May 30, 2018 7:54am
AUDUSD

123 and 150% ADR +8 pips
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  • #6,494
  • May 30, 2018 8:00am May 30, 2018 8:00am
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Short EG, sat in it for a couple hours narrowly missing stops, +5 locked.
Good things come to those who wait. (sometimes)
  • #6,495
  • May 30, 2018 10:42am May 30, 2018 10:42am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,496
  • May 30, 2018 8:37pm May 30, 2018 8:37pm
Hi TS:

When the signal bar makes a new high, are you looking for any particular length or ratio for the upper wick? I ask since, if the bar closes very near the top of the bar (which indicates that it could be still quite bullish), then the next bar also opens very near the top where the previous high bar closed and then proceeds lower, then there isn't really a "test" of the high since the bar started out there and then just proceeds lower.

Naturally, I wouldn't short it since the previous bar closed at or near the high. But in general, what kind of wick are you looking for on the previous high bar (i.e. signal bar). Your thoughts?

Thanks in advance.
  • #6,497
  • May 31, 2018 1:56am May 31, 2018 1:56am
Quoting Hambone
Hi TS: When the signal bar makes a new high, are you looking for any particular length or ratio for the upper wick? I ask since, if the bar closes very near the top of the bar (which indicates that it could be still quite bullish), then the next bar also opens very near the top where the previous high bar closed and then proceeds lower, then there isn't really a "test" of the high since the bar started out there and then just proceeds lower. Naturally, I wouldn't short it since the previous bar closed at or near the high. But in general, what kind...
This is a question that comes up throughout the life of the thread and has been covered.

PippyTheGrt and I ran a test on the various bar shapes, ''Long-Bladed'' and ''Short-Bladed'' knives as we called them.

We discovered that at the end of it all, in general, it makes no difference whatsoever. None.

You are better looking up a time-frame to see how the overall price picture is looking, rather than using the H1 bar, which can be deceptive.
  • #6,498
  • May 31, 2018 3:06am May 31, 2018 3:06am
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Short GJ +5 locked
  • #6,499
  • May 31, 2018 4:11am May 31, 2018 4:11am
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Short NZ +5 locked. One of those ones that took a while but got there.
  • #6,500
  • May 31, 2018 4:15am May 31, 2018 4:15am
Quoting hal7
{image} Short NZ +5 locked. One of those ones that took a while but got there.
i was in it as well...it over ranged around the sl and tp for more than 1 hour
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