every Saint has a past. Every Sinner has a Future
Trading with range bars ichimoku cloud & awesome oscillator
- #3,183
- Jun 19, 2018 4:09am Jun 19, 2018 4:09am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,184
- Jun 19, 2018 5:36am Jun 19, 2018 5:36am
Rocky et al. This is familiar - another two trades - one a loser and one a winner. The loser -perhaps I should have not gone against the downward sloping ma and cloud ? {image}
- #3,189
- Jun 20, 2018 1:20am Jun 20, 2018 1:20am
{quote} what page is it that tells us how to make entrance based on this technique?
I got this today. Mobile trading.
Trade-Emperor
- #3,191
- Jun 20, 2018 8:08am Jun 20, 2018 8:08am
Hi people.My only trade for today for 50 pips and im calling it quits for today.Opened a GBPCAD trade just after London open and closed it a while ago.Thats my longest trade ever!!.Took 5 hours 22 minutes and 54 seconds .Its important for me to note how long the trade took because it creates a paradigm shift for my brain and now my brain learns a new belief that i am capable of holding onto a trade and letting winners run.
I realise that many times i have been correct yet exited for 12 pips, 20 pips etc and then the trades carried on for 50,100 pips etc.
So i need to stay long in the trades.I have always believed in plenty of trades per day but deep down i feel that its not the style i want and i would love to hold onto winning trades especially if i am trading with the main trend.
We all have different preferences and some even take trades not longer than ten minutes and are very successful but as for me i desire to last long in trades....
So i saw that GBPCAD has been in an uptrend and at London open i bought very low so i said i am not going to be looking at this trade every few minutes because its the up and down ticks that can make me anxious and close the trade prematurely.So i was checking the trade maybe every 30 minutes or so and i was not going to close it for less than 30 pips because i was using heiken ashi bars to gauge bullishness.
I exited the trade as price was struggling to break yesterday's high.
.Its important for me to note how long the trade took because it creates a paradigm shift for my brain and now my brain learns a new belief that i am capable of holding onto a trade and letting winners run.I realise that many times i have been correct yet exited for 12 pips, 20 pips etc and then the trades carried on for 50,100 pips etc.
So i need to stay long in the trades.I have always believed in plenty of trades per day but deep down i feel that its not the style i want and i would love to hold onto winning trades especially if i am trading with the main trend.
We all have different preferences and some even take trades not longer than ten minutes and are very successful but as for me i desire to last long in trades....
So i saw that GBPCAD has been in an uptrend and at London open i bought very low so i said i am not going to be looking at this trade every few minutes because its the up and down ticks that can make me anxious and close the trade prematurely.So i was checking the trade maybe every 30 minutes or so and i was not going to close it for less than 30 pips because i was using heiken ashi bars to gauge bullishness.
I exited the trade as price was struggling to break yesterday's high.
Hi people.My only trade for today for 50 pips and im calling it quits for today.Opened a GBPCAD trade just after London open and closed it a while ago.Thats my longest trade ever!!.Took 5 hours 22 minutes and 54 seconds
- #3,193
- Jun 20, 2018 10:04am Jun 20, 2018 10:04am
{quote} Well done ichikuse, nice amount of pips, but I wouldn't let a winning trade run back to your entry point after so much timer, why you Don, t change to a higher amount of pips per bar after entry, for me personally I would go out much earlier and probably reenter. But if it works for you, you should continue with it, for me ha candles are lagging or showing too late a change of trend, I used them as I begun trading, but prefer normal pa candles much better. Like yesterday I took a CT on E/u before Frankfurt open (I normally don't trade this...
.Yes H/Ashi lags but its less stressful to watch a trade on heiken ashi than on the candles with the spikes and all.
I realised in trading either u take profits early or u dont and for me i think id rather wait and let a trade run than take a few pips.This helps my equity curve and grows my account nicely if i do it well.Still learning.Look at the gold drop of 226 pips(attached).So, just monitoring the trade on heiken ashi u dont come out until the opposite color comes.The lagging nature of HEIKEN ASHI helps on taking profit more than on entries i think and i wont use too high a time frame to monitor a trade....
This is what i want to do in the long run and i would eventually want to see myself trade from London open to say 3 hours after New York maybe a profit of
100 pips,200 pips etc profit because in a strong trend there are retracements and they shouldnt scare me...im aiming for higher risk reward especially when a new trend is established and im taking my trades off of 4h charts.
My new trading style which im building on is taking a good trade with a good win ratio as CLtrader mentioned the other day.You can have a 50 percent win rate with a very good r/r ratio and thats what i want to improve...This suits my status quo since im still employed full time....Still i prefer trading this way
- #3,195
- Jun 20, 2018 11:05am Jun 20, 2018 11:05am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
{quote} Thanks Patje.The reason price came so close to my entry is because i was not looking and the reason i wanted to aim for a big tp is because the pair was aiming higher and higher so it wasnt a counter trend trade and i was comfortable to let bulls reload
- #3,198
- Jun 20, 2018 1:14pm Jun 20, 2018 1:14pm
{quote} Off course do what you think is best for you and what suits you, and I fully agree with CL trader r/r is important no matter, I an experimenting with adjusting some of the entry's... That 's also a way to improve your rr, this is something I try on my day job at demo, in my free time I trade forex Rocky style....I hope you find something that suits you, maybe you can find some more info on the tms thread about trading ha, goodluck
.Basically, i trade RP's system with guidance from Heiken Ashi ichimoku time charts to gauge trend resumption or reversal.I wont blindly hope for a high tp, no.As much as GBPCAD is going up, yesterday it dropped 100 pips very fast(attached photo) and its a trade i would gladly take because there was divergence there and i would come out as soon as price stalled since that fall was counter-trend.However, if price is making higher highs or lower lows, i will now prefer to buy dips/sell rallies and wait for price to take out the previous session low/high.It seems when London sessions start, those in control of a trend have one goal:taking out a previous session low/high to maintain the trend and then take profit and come back tomorrow and hopefully repeat
.This is what happened today.GBPCAD began going up in the London session and it broke yesterday's high not long after i exited the trade i posted earlier and as i type people are taking profits and price is retreating.This is why i use a previous day high/low indicator...In short, there will be moments i will take even ten pips profit depending on conditions but in a good downtrend/uptrend i want to work on prolonging trades.
