- #62
- May 22, 2019 10:59am May 22, 2019 10:59am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
Always a Student, Never a Master - Emulate What Works
- #64
- May 22, 2019 11:28am May 22, 2019 11:28am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
{quote} Yes, SL was small in pips so if the price continued in the right direction there was a good change of huge gain. I use x% for every trade. Do you use fixed lot size?
Always a Student, Never a Master - Emulate What Works
- #65
- May 22, 2019 2:41pm May 22, 2019 2:41pm
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
I took this Crossover trade on the GBPJPY 4 Hr. chart.
The daily chart is down.
I put my stop only one bar back (at 140.10) because we are in an area of what could be support again and I want it to "GO" or stop me out with a small loss.
It's like fishing, you have to be willing to lose your bait sometimes. And sometimes, multiple times in a row.
The daily chart is down.
I put my stop only one bar back (at 140.10) because we are in an area of what could be support again and I want it to "GO" or stop me out with a small loss.
It's like fishing, you have to be willing to lose your bait sometimes. And sometimes, multiple times in a row.
Always a Student, Never a Master - Emulate What Works
- #69
- May 22, 2019 6:23pm May 22, 2019 6:23pm
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
Ditto on this one (H4 long as continuation at white arrow) but Daily and H4 is starting to turn over a bit so will have to watch what the market gives us{image}
Always a Student, Never a Master - Emulate What Works
{quote} Good Job! I am glad to see some trades working out for you. It's easy right?
- #71
- Edited May 23, 2019 5:10am May 22, 2019 7:34pm | Edited May 23, 2019 5:10am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
Always a Student, Never a Master - Emulate What Works
- #74
- Edited 7:40am May 23, 2019 6:49am | Edited 7:40am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
Always a Student, Never a Master - Emulate What Works
- #76
- Edited 3:43pm May 23, 2019 8:03am | Edited 3:43pm
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,758 Posts
{quote} Thank you. So when all the indicators tell you do buy. You just buy right away? Same as to sell.
I can't give you a definitive answer on Crossover trades, because for me it's more complicated than just yes or no.
I usually look at one time frame up to see what it's doing and I look at a 5 and/or 15 minute chart to see what they are doing.
So if I get a buy signal (on Crossover trades) meaning "all the indicators tell me to buy" on the 4 hr. chart and the daily chart is in a confirmed downtrend, I am probably not going to buy, but if the weekly and the monthly are in a uptrend, then I might would take the long trade.
Also, if I decide to buy after looking at all that, I look at a 5 minute chart and I only enter if or when it is going up.
In the case of Continuation Trades...
When the conditions are right (and the set-up bar has closed), then YES I just enter right away.
Trading the continuation or the resumption of a trend has a higher % of wins than any other type of entry I use.
My advice is: Trade the resumption of a trend after a pullback (or it stalls).
Trading the resumption of a trend after the first pullback (or it stalls) is usually the best one. Each successive one after the first one gets progressively less reliable and more risky.
As an example: When numerous candles in a row are all blue, and the HMA line is Lime Green it's above Yellow Line, and the 2 Stochastics and the RSI are all above the Purple 50 Line you are probably in a uptrend.
THEN...when the candle(s) turn red/red or red/blue and/or the HMA Line turns Deep Pink BUT it stays above the Yellow Line AND the 2 Stochastics (or just the 14, 3, 3 Stochastics) and the RSI are all above the Purple 50 Line then the market is probably pulling back or stalling.
THEN... when a candle turns back to blue/blue, AND the HMA line turns from Deep Pink back to Lime Green AND it is still above Yellow Line, AND the 2 Stochastics and the RSI are all above the Purple 50 Line that is the resumption of the trend and you should re-enter.
Here's what 3 of them look like (in this example, on the chart below, the exits are based on when the candles turn red/red and close below the Yellow Line).
Always a Student, Never a Master - Emulate What Works
