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  • #401
  • Aug 7, 2019 3:56pm Aug 7, 2019 3:56pm
Hi TS
What would you do in this case take the better entry or pass
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  • #402
  • Edited 4:25pm Aug 7, 2019 4:06pm | Edited 4:25pm
Quoting Ibar51
Hi TS What would you do in this case take the better entry or pass {image}
Well, ideally we want the signal candle closing in our direction. Something like this could be a reasonable entry or even below the lower candle. A sell stop would be triggered when price is moving in the desired direction - if it keeps going up then obviously the trade was not meant to be. This move could be a new higher low on its way back up These are the sorts of decisions you have to make on your own and how you want to trade. I used to trade only with pending orders and the idea has merit for sure...I may go back to using that technique and enter via a stop order at the high/low of the signal candle instead of the close - I'll need to see if it offers any benefit though (I am not sure it will with this system).
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Emotion - it steals your money.
  • #403
  • Aug 7, 2019 9:08pm Aug 7, 2019 9:08pm
Not such a good day for me - a few orders stopped out. Still up for the month but I've given back a lot of what I made last week (I think over-trading is the culprit here). I am taking every single order I see when I'm at the computer. I'm a bit more of a 'hands-off after entry' type trader as I work full time and only able to check the 7pm, 11pm and 7am candles (Eastern Australia time).

Might need to look at getting MT4 on my phone, but problem is I can't run the same templates and all...
  • #404
  • Aug 7, 2019 9:18pm Aug 7, 2019 9:18pm
Quoting Ivanyo
Not such a good day for me - a few orders stopped out. Still up for the month but I've given back a lot of what I made last week (I think over-trading is the culprit here). I am taking every single order I see when I'm at the computer. I'm a bit more of a 'hands-off after entry' type trader as I work full time and only able to check the 7pm, 11pm and 7am candles (Eastern Australia time). Might need to look at getting MT4 on my phone, but problem is I can't run the same templates and all...
How many trades have you taken this week? How many pairs are you trading? Are you not trailing a stop to shed risk as price moves? It’s been a bit of a goofy week for a few pairs. Lots of sideways movement going on. I’ve been caught in the chop of AUDUSD and GBPUSD. The later is still open and just hovering under my stop as of this post.
Emotion - it steals your money.
  • #405
  • Aug 7, 2019 11:19pm Aug 7, 2019 11:19pm
Quoting carmelina
Took this trade a few minutes ago with the risk-reward ratio tool. Let's see where it goes. It's midnight here in OZ and I can't keep my eyes open. Happy trading! {image}
Entered on same candle just closed for a .5 r loss learning to cut my losses sooner rather than later.
  • #406
  • Aug 7, 2019 11:24pm Aug 7, 2019 11:24pm
I tested TS method with a little bit of my approach and 10 eur capital and so far results are great when i manage trades properly. Thanks TS
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  • #407
  • Aug 7, 2019 11:30pm Aug 7, 2019 11:30pm
Quoting TheSpoof
{quote} How many trades have you taken this week? How many pairs are you trading? Are you not trailing a stop to shed risk as price moves? It’s been a bit of a goofy week for a few pairs. Lots of sideways movement going on. I’ve been caught in the chop of AUDUSD and GBPUSD. The later is still open and just hovering under my stop as of this post.
13, mixed results - still in 2 of them.

I do trail SL when I am the desk, but often I am not as I'm either working or asleep. All my losses have been 1R, but my wins have been rare this week and more often than not I've been stopped at just above break even so the losses I have taken have outweighed those orders that I haven't lost on.
  • #408
  • Aug 8, 2019 12:24am Aug 8, 2019 12:24am
TheSpoof: Which pairs of currency do you usually to trade ????
  • #409
  • Aug 8, 2019 1:01am Aug 8, 2019 1:01am
Quoting Aia8888
TheSpoof: Which pairs of currency do you usually to trade ????
It's in post 1...

"Here are the instruments I currently trade & why:
AUDUSD, EURUSD, GBPUSD, GBPAUD, USDJPY, and USOUSD"
  • #410
  • Edited 4:22am Aug 8, 2019 2:18am | Edited 4:22am
Quoting Ivanyo
Not such a good day for me - a few orders stopped out. Still up for the month but I've given back a lot of what I made last week (I think over-trading is the culprit here). I am taking every single order I see when I'm at the computer. I'm a bit more of a 'hands-off after entry' type trader as I work full time and only able to check the 7pm, 11pm and 7am candles (Eastern Australia time). Might need to look at getting MT4 on my phone, but problem is I can't run the same templates and all...
For mobile phones the app Trade Interceptor will allow you to generate the charts you require for this method. I have also used RemotePC to log in to the home pc via my phone. Works well providing you have 4g or WiFi available
  • #411
  • Aug 8, 2019 4:08am Aug 8, 2019 4:08am
Entered AUDUSD and GBPAUD
  • #412
  • Aug 8, 2019 4:15am Aug 8, 2019 4:15am
[quote=Ivanyo;12428971]Entered AUDUSD and GBPAUD[/quote
Good luck markets very quite did look at both decided to practice patience lack of one of my many trading flaws
  • #413
  • Aug 8, 2019 4:45am Aug 8, 2019 4:45am
Quoting Ivanyo
Entered AUDUSD and GBPAUD
I seems you are one candle late.
Dayly chart is against, but AUD USD W1 reached a strong Support area, I t can be a very good trade.
  • #414
  • Aug 8, 2019 4:57am Aug 8, 2019 4:57am
Quoting marcara
{quote} I seems you are one candle late. Dayly chart is against, but AUD USD W1 reached a strong Support area, I t can be a very good trade.
TheSpoof uses the oscillator, and he waits for it to close red or green then goes in, so according him, he is not one candle too late.
Success means going from failure to failure without loss of enthusiasm
  • #415
  • Aug 8, 2019 5:22am Aug 8, 2019 5:22am
Quoting marcara
{quote} I seems you are one candle late. Dayly chart is against, but AUD USD W1 reached a strong Support area, I t can be a very good trade.
i think he means b au and s ga
  • #416
  • Aug 8, 2019 5:38am Aug 8, 2019 5:38am
[quote=Ibar51;12428987]
Quoting Ivanyo
Entered AUDUSD and GBPAUD[/quote Good luck markets very quite did look at both decided to practice patience lack of one of my many trading flaws
The quiet before the breakouts?
  • #417
  • Aug 8, 2019 6:21am Aug 8, 2019 6:21am
[quote=40PipsAlan;12429143]
Quoting Ibar51
{quote} The quiet before the breakouts?
Don't know - just take the signal and trust the system.
  • #418
  • Aug 8, 2019 7:44am Aug 8, 2019 7:44am
[quote=40PipsAlan;12429143]
Quoting Ibar51
{quote} The quiet before the breakouts?
GBPUSD is in a brutal range this week! I've taken one small loss on it already. Big move coming but which direction? Are we going to get a false break? This is one of those times where price action can really help out. My old method of trading I would wait for a break of the range then a re-test of the boundary and then a candle signal like a pin bar or engulfing to then get in.
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Emotion - it steals your money.
  • #419
  • Aug 8, 2019 7:49am Aug 8, 2019 7:49am
Quoting Ivanyo
{quote} 13, mixed results - still in 2 of them. I do trail SL when I am the desk, but often I am not as I'm either working or asleep. All my losses have been 1R, but my wins have been rare this week and more often than not I've been stopped at just above break even so the losses I have taken have outweighed those orders that I haven't lost on.
Ya...taking full 1R losses one after another really sucks which is why I like to shed risk as the trade moves. Again, trades that are destined to be wins take off right away. if we are getting stopped out it's because we are in a ranging condition, the trend is changing, or there was a price spike. Hang in there...good trades are right around the corner. We are coming off last week which had some long moves so we can expect a period of consolidation which seems to be happening this week.
Emotion - it steals your money.
  • #420
  • Aug 8, 2019 7:58am Aug 8, 2019 7:58am
[quote=TheSpoof;12429429]
Quoting 40PipsAlan
{quote} GBPUSD is in a brutal range this week! I've taken one small loss on it already. Big move coming but which direction? Are we going to get a false break? This is one of those times where price action can really help out. My old method of trading I would wait for a break of the range then a re-test of the boundary and then a candle signal like a pin bar or engulfing to then get in. {image}
A 2 second peek at the calendar shows red flag GBP at 9.30 tomoz am so might shift it a bit.
Against the rules I know, but hey nothing else going on
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