- #522
- Jun 25, 2019 6:25am Jun 25, 2019 6:25am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Here is a nice AUDUSD Continuation Trade I entered on the 4 Hr. chart yesterday. Notice how I keep moving my stop up, locking in profits all along the way?
I'll post the exit when it happens and why I chose to exit.
I'll post the exit when it happens and why I chose to exit.
Always a Student, Never a Master - Emulate What Works
- #526
- Edited 8:24am Jun 25, 2019 7:23am | Edited 8:24am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #529
- Jun 25, 2019 7:43am Jun 25, 2019 7:43am
{quote} It's easiest to learn and understand how the indicators change colors by watching them on a 1 minute chart. They don't actually work real time in the way you would think they would to when you look at a chart later. You can't enter a trade UNTIL the bar has closed. The HMA line changes color but not permanently until after touching 2 bars, then, ideally, you should enter on the Open of the 3rd bar. In actuality, I got in early BECAUSE I saw the bars turn blue/blue AND all 3 lower indicators were above the Purple 50 Line. People MUST REMEMBER...
- #532
- Jun 25, 2019 7:48am Jun 25, 2019 7:48am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Congrats RobinHood, since the launch of this thread on May 18th 2019 and now already at #527 posts, it's obvious you've struck Gold. Stay with it Captain. P
Here's why I created the thread...
The Starfish Story
Once upon a time, there was an old man who used to go to the ocean to do his writing. He had a habit of walking on the beach every morning before he began his work. Early one morning, he was walking along the shore after a big storm had passed and found the vast beach littered with starfish as far as the eye could see, stretching in both directions.
Off in the distance, the old man noticed a small boy approaching. As the boy walked, he paused every so often and as he grew closer, the man could see that he was occasionally bending down to pick up an object and throw it into the sea. The boy came closer still and the man called out, “Good morning! May I ask what it is that you are doing?”
The young boy paused, looked up, and replied “Throwing starfish into the ocean. The tide has washed them up onto the beach and they can’t return to the sea by themselves,” the youth replied. “When the sun gets high, they will die, unless I throw them back into the water.”
The old man replied, “But there must be tens of thousands of starfish on this beach. I’m afraid you won’t really be able to make much of a difference.”
The boy bent down, picked up yet another starfish and threw it as far as he could into the ocean. Then he turned, smiled and said, “It made a difference to that one!”
*Adapted from The Star Thrower, by Loren Eiseley (1907 – 1977)
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I am just hoping to make a difference for at least a few traders.
Always a Student, Never a Master - Emulate What Works
- #533
- Jun 25, 2019 7:52am Jun 25, 2019 7:52am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
{quote} If you can RH to tell more about this I would appreciate
Always a Student, Never a Master - Emulate What Works
- #535
- Jun 25, 2019 8:03am Jun 25, 2019 8:03am
{quote} YES, absolutely, those are all some type of Continuation trade. And, you missed 2 others on the way up.
Thanks for explaining
- #536
- Jun 25, 2019 8:04am Jun 25, 2019 8:04am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
Always a Student, Never a Master - Emulate What Works
- #537
- Edited 8:21am Jun 25, 2019 8:11am | Edited 8:21am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
{quote} About this 2 is clear, I wasn't sure just about when stoch. and rsi do not cross direction in trend changes just for one or couple candles . Thanks for explaining
Continuation Trades:
A Continuation Trade is when there has already been a trade in that direction, but you were stopped out OR got out for some other reason and then you get another signal to enter in the same direction.
You can go long again if a bar turns back to Dodger Blue/Blue after being Red/Maroon or Red/Blue AND the Dodger Blue/Blue bar's close is above the Yellow Line and all other indicators agree.
You can go short again if a bar turns back to Red/Maroon after being Dodger Blue/Blue or Red/Blue AND the Dodger Red/Maroon bar's close is below the Yellow Line and all other indicators agree.
*Meaning, no crossing of the Purple 50 Line is required for Continuation Trades.
Always a Student, Never a Master - Emulate What Works
- #538
- Jun 25, 2019 8:11am Jun 25, 2019 8:11am
{quote}
So very true , I am a school teacher and we often discuss this same story
- #539
- Jun 25, 2019 8:19am Jun 25, 2019 8:19am
{quote} Rereading what I wrote on Post #1 about Continuation Trades may help. It says: Continuation Trades: A Continuation Trade is when there has already been a trade in that direction, but you were stopped out OR got out for some other reason and then you get another signal to enter in the same direction. You can go long again if a bar turns back to Dodger Blue/Blue after being Red/Maroon or Red/Blue AND the Dodger Blue/Blue bar's close is above the Yellow Line and all other indicators agree. You can go short again if a bar turns back to Red/Maroon...
- #540
- Jun 25, 2019 8:22am Jun 25, 2019 8:22am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,759 Posts
{quote} I read few times and wasn't sure still . Now is crystal clear Robin. You are doing great jobs with everyone here. Big THANKS
Always a Student, Never a Master - Emulate What Works