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Daily Trading Ideas

  • #2,001
  • Jan 6, 2019 5:16am Jan 6, 2019 5:16am
Quoting 9jatrader
The reason of putting stop loss above the broken support is that sometimes the bulls advance strongly to test the broken support, And so if you're too tight with stop loss, it would be triggered so easily before going to your your direction again. Opposite is the case for trading resistance breakout
In my opinion, using SL can be complemented with using trailing stop as well once you are in profit figures . I am no good at all this about SL. I have a diferent mindset which could be wrong ofcourse
POSTMASTER
  • #2,002
  • Jan 6, 2019 5:17am Jan 6, 2019 5:17am
Quoting Sunnyland
{quote} hi, which sma period you meant? 20,50,100,200?
Simple Moving Average- Period: 14; Shift: 0. It means leave it at default at MT4
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #2,003
  • Jan 6, 2019 5:18am Jan 6, 2019 5:18am
Quoting 9jatrader
Another thing we should know also is that when the candle that formed the setup is too big for our risk management level we should skip it. Don't think of taking all the available trades.
And this works???

can i challenge you to something,if you are interested....

Starting tomorrow record every trade you take using the above mentioned info,take the recording for 20 trades.
and please tell me how that works out for you.
  • #2,004
  • Jan 6, 2019 5:19am Jan 6, 2019 5:19am
Quoting EXpRINCE
{quote} Lol...i rely on trading alone my dear friend. I occasionally come in here to see how the half lives. I rose or came up from here...it would be a foolish idea to forget where i come from.
I always talk general. the exception confirms the rule
POSTMASTER
  • #2,005
  • Jan 6, 2019 5:21am Jan 6, 2019 5:21am
Quoting EXpRINCE
{quote} And this works??? can i challenge you to something,if you are interested.... Starting tomorrow record every trade you take using the above mentioned info,take the recording for 20 trades. and please tell me how that works out for you.
Instead of challenging, makes us all rich its healthier
POSTMASTER
  • #2,006
  • Jan 6, 2019 5:22am Jan 6, 2019 5:22am
Quoting EXpRINCE
{quote} And this works??? can i challenge you to something,if you are interested.... Starting tomorrow record every trade you take using the above mentioned info,take the recording for 20 trades. and please tell me how that works out for you.
Am not in a trading contest here at Forex Factory. Don't expect to see good trades every now and then. When I have SMA-based setups I might share it here or in my thread. I already have some in my thread.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #2,007
  • Jan 6, 2019 5:22am Jan 6, 2019 5:22am
Quoting Robinhood1
{quote} Instead of challenging, makes us all rich its healthier

very good
lets begin....

NEVER EVER USE A TRAILING STOP.
  • #2,008
  • Jan 6, 2019 5:22am Jan 6, 2019 5:22am
Inserted Video
POSTMASTER
  • #2,009
  • Jan 6, 2019 5:24am Jan 6, 2019 5:24am
Quoting 9jatrader
{quote} Am not in a trading contest here at Forex Factory. Don't expect to see good trades every now and then. When I have SMA-based setups I might share it here or in my thread. I already have some in my thread.
you make a good point.
What time frames do you apply your stop loss theory if i may ask???
  • #2,010
  • Jan 6, 2019 5:24am Jan 6, 2019 5:24am
Quoting EXpRINCE
{quote} very good lets begin.... NEVER EVER USE A TRAILING STOP.
Okay can u please tell me what is wrong with trailing stops? A good stop loss is stop loss that never gets hit with proper money management.
  • #2,011
  • Jan 6, 2019 5:25am Jan 6, 2019 5:25am
Quoting EXpRINCE
{quote} very good lets begin.... NEVER EVER USE A TRAILING STOP.
I dont use SL or trailing stop. I just thought it made sense. On what do you base your afirmation
POSTMASTER
  • #2,012
  • Jan 6, 2019 5:29am Jan 6, 2019 5:29am
Quoting EXpRINCE
{quote} you make a good point. What time frames do you apply your stop loss theory if i may ask???
The same time frames in which you took the position. Exceptional case that when I get in using the weekly middle band and daily lower band. In that case I use the weekly last candle for SL. For daily middle band and 4hr lower band I use the daily candle for SL. I move it as soon as possible, specially when dealing weekly candle
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #2,013
  • Jan 6, 2019 5:29am Jan 6, 2019 5:29am
Quoting MrAashir
{quote} Okay can u please tell me what is wrong with trailing stops?
you are 90% all the time bound or forcefully going to be pushed to exit a trade you set a trailing stop on.exit without reaching/hitting your target.

How many times have you set a trailing stop-watch the trade hit the trailing stop and rise to new highs without you????

Remember you trade against another human on the other side of the trade.a human being working for a big bank or large institution NOT A COMPUTER.
Always remember this.
  • #2,014
  • Jan 6, 2019 5:30am Jan 6, 2019 5:30am
Quoting Robinhood1
{quote} I dont use SL or trailing stop. I just thought it made sense. On what do you base your afirmation
Yes bro but i do not agree with not using stop loss. Stop loss must be used if you are scalping.
  • #2,015
  • Jan 6, 2019 5:32am Jan 6, 2019 5:32am
Quoting MrAashir
{quote} Yes bro but i do not agree with not using stop loss. Stop loss must be used if you are scalping.
i never said you should use a stop loss.I SAID DON'T USE A TRAILING STOP LOSS.two different things.
  • #2,016
  • Jan 6, 2019 5:33am Jan 6, 2019 5:33am
Quoting EXpRINCE
{quote} you are 90% all the time bound or forcefully going to be pushed to exit a trade you set a trailing stop on.exit without reaching/hitting your target. How many times have you set a trailing stop-watch the trade hit the trailing stop and rise to new highs without you???? Remember you trade against another human on the other side of the trade.a human being working for a big bank or large institution NOT A COMPUTER. Always remember this.
Someone using only SL could be even more vulnerable. That human can push you into the red, forget about trailing right?
POSTMASTER
  • #2,017
  • Jan 6, 2019 5:34am Jan 6, 2019 5:34am
Quoting EXpRINCE
{quote} you are 90% all the time bound or forcefully going to be pushed to exit a trade you set a trailing stop on.exit without reaching/hitting your target. How many times have you set a trailing stop-watch the trade hit the trailing stop and rise to new highs without you???? Remember you trade against another human on the other side of the trade.a human being working for a big bank or large institution NOT A COMPUTER. Always remember this.
Haha bro dont give me that bullshit its like you are telling me not to put stop loss just because i have seen stop loss taking hit and reversing right back. Yes it will reverse back sometimes but most of the time u will save a lot of trouble. And how many times have u seen price coming right back and hitting the old stop loss? And thinking wish u had trailing stop? It works both ways bro its just matter of opinion.
  • #2,018
  • Jan 6, 2019 5:38am Jan 6, 2019 5:38am
Quoting MrAashir
{quote} Haha bro dont give me that bullshit its like you are telling me not to put stop loss just because i have seen stop loss taking hit and reversing right back. Yes it will reverse back sometimes but most of the time u will save a lot of trouble. And how many times have u seen price coming right back and hitting the old stop loss? And thinking wish u had trailing stop? It works both ways bro its just matter of opinion.
Don't rush listen...Your stupidity will be your very own downfall.

i am full time trader and i never use a stop loss let alone a tp profit in most cases.i know before i take trade when or where i will exit it.
if you trade part time i would suggest you do use a stop loss,if you do you use it,place it 40 pips above or below the hod or lod.simple...now you were saying...?
  • #2,019
  • Jan 6, 2019 5:39am Jan 6, 2019 5:39am
Quoting EXpRINCE
{quote} i never said you should use a stop loss.I SAID DON'T USE A TRAILING STOP LOSS.two different things.
Okay now please read who i am quoting abviously not you.
  • #2,020
  • Jan 6, 2019 5:41am Jan 6, 2019 5:41am
Quoting EXpRINCE
{quote} Don't rush listen...Your stupidity will be your very own downfall. i am full time trader and i never use a stop loss let alone a tp profit in most cases.i know before i take trade when or where i will exit it. if you trade part time i would suggest you do use a stop loss,if you do you use it,place it 40 pips above or below the hod or lod.simple...now you were saying...?
Can u please tell me how am i stupid? I just gave a valid argument for your statement.
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