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Trading the Cable swings via averages

  • #221
  • Nov 27, 2018 6:42pm Nov 27, 2018 6:42pm
Yesterday i lost around some money just because my stoploss was taken multiple times and then the trade would go in my favour right after taking my stoploss. The system you taught works amazingly but i just had my stop loss at wrong place. I would really appreciate if you could add a brief post regarding stoploss and moving stops to breakeven.
Thanks
  • #222
  • Nov 28, 2018 12:07am Nov 28, 2018 12:07am
I have taken this 1hr 2 bar test trade from a previous 1hr ema low
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_LONG_28th.png Size: 40 KB
  • #223
  • Nov 28, 2018 12:29am Nov 28, 2018 12:29am
Quoting Riaanvw
I have taken this 1hr 2 bar test trade from a previous 1hr ema low {image}
i'm SHORT because of divergence in 15m and 5m.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-11-28 at 11.25.33.png Size: 195 KB
Click to Enlarge Name: Screen Shot 2018-11-28 at 11.26.53.png Size: 199 KB
  • #224
  • Nov 28, 2018 1:15am Nov 28, 2018 1:15am
Gee you guys are keen to get trades on... I am just coming to the table to work out what is going on.
  • #225
  • Nov 28, 2018 1:24am Nov 28, 2018 1:24am
Quoting Nala66
Gee you guys are keen to get trades on... I am just coming to the table to work out what is going on.
i'm stopped out already.
  • #226
  • Nov 28, 2018 1:35am Nov 28, 2018 1:35am
Quoting Nala66
Normally a trade has three parts... 1) Starts with divergence. 2) Bulls or bears FIND support. 3) Divergences prompts a close or a hedge. Yesterdays was a little different from the norm because the divergence was held over from the previous day (Monday) and held all through the Asian session. Below on the 5 min chart we see... A) Was the divergence B) Bears FOUND support C) Prompted the hedge or close. {image}
Doesn't this make your system Subjective instead of mechanical (lack of human qualities)? or I may ask at this stage, is your system subjective of mechanical? how do you categorize it? Don't get me wrong, this categorization doesn't diminish the effectiveness of your system
  • #227
  • Nov 28, 2018 1:43am Nov 28, 2018 1:43am
haris, I can see the rationale behind your decision but the MA is acting as a support for the Bulls and not the Bears. I think we need to take this into consideration as well. But lets see how it goes.
  • #228
  • Nov 28, 2018 1:46am Nov 28, 2018 1:46am
GM Nala, would like to know your time now and your 108 candle time on your chart. That would help me syncronize my chart. Thanks!
  • #229
  • Nov 28, 2018 3:31am Nov 28, 2018 3:31am
I have added some off the 5 minute
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_28TH_5MIN.png Size: 48 KB
  • #230
  • Nov 28, 2018 3:51am Nov 28, 2018 3:51am
Quoting Riaanvw
I have added some off the 5 minute {image}
Just watch the bearish div that is forming now.
  • #231
  • Nov 28, 2018 4:11am Nov 28, 2018 4:11am
Well I have had two -$50 stop outs and just got my money back and am now quitting for the night. Can't get them everyday in these choppy situations.
  • #232
  • Nov 28, 2018 4:13am Nov 28, 2018 4:13am
Quoting Goyatrade
GM Nala, would like to know your time now and your 108 candle time on your chart. That would help me syncronize my chart. Thanks!
It shows as 9am chart time, my period separator is 00:00
  • #233
  • Nov 28, 2018 4:14am Nov 28, 2018 4:14am
Quoting wolero7
haris, I can see the rationale behind your decision but the MA is acting as a support for the Bulls and not the Bears. I think we need to take this into consideration as well. But lets see how it goes.
Exactly so we should be long.
  • #234
  • Nov 28, 2018 4:18am Nov 28, 2018 4:18am
Quoting Nala66
{quote} It shows as 9am chart time, my period separator is 00:00
Thanks! go well!!
  • #235
  • Edited Nov 29, 2018 12:42am Nov 28, 2018 4:24am | Edited Nov 29, 2018 12:42am
This is one of the stop outs because I failed to hedge I lost $50 (5 min chart)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB
  • #236
  • Nov 28, 2018 4:25am Nov 28, 2018 4:25am
Quoting Nala66
Well I have had two -$50 stop outs and just got my money back and am now quitting for the night. Can't get them everyday in these choppy situations.
Fair enough, but could you also show us these mistakes on a chart, so we can learn too? Appreciated thanks!! Sorry, we typed at the same time!!
  • #237
  • Nov 28, 2018 4:33am Nov 28, 2018 4:33am
hi Alan,

When you say "hedge", do you mean to close and reverse the trade?
(I ask for clarification, as my understanding of a hedge is to have both Long and Short positions simultaneously)
  • #238
  • Nov 28, 2018 4:37am Nov 28, 2018 4:37am
Today I am better, but I must train scale in. 2nd entry is too late and 3rd I missed.

Attached Image (click to enlarge)
Click to Enlarge Name: MicFX_02.png Size: 27 KB
  • #239
  • Nov 28, 2018 4:44am Nov 28, 2018 4:44am
Average resistance on H1

Attached Image (click to enlarge)
Click to Enlarge Name: MicFX_03.png Size: 34 KB
  • #240
  • Nov 28, 2018 4:59am Nov 28, 2018 4:59am
Quoting Mic_FX
Average resistance on H1 {image}
Well done there!! Hope the resistance hold, but the GBP is strong at the moment!! I missed that one, but am watching the return, maybe in NY session!! Wish you a good day!!
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