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6200trading Method

  • #81
  • Aug 11, 2019 9:25am Aug 11, 2019 9:25am
Quoting 6200trading
{quote} Thank you for getting involved Beerbelly. Theoretically, you set up has merit and it is the 'type" of pullback that I look at. If I were to consider this trade it would have been made the day before the last candle. I like to put the stop above the highest high of the relief rally. In this case however, I would look for a lower point to put the stop due to large PIP risk using the highest high. If you were to do this your position size would be tiny with such a large stop and a 1% risk. Interestingly, I had a similar situation last week...
Thanks for your explanation, that sure cleared it up. I think if you apply this specific rule to a lot of strategies, then they would be more succesful. I found often that i read someones strategy, try it out, and it won't work for me. Most likely that I trade too late (or to early), and not wait for the right entry with the RR. That will make a huge difference for sure.
  • #83
  • Aug 11, 2019 12:28pm Aug 11, 2019 12:28pm
Quoting Beerbelly
{quote} Thanks for your explanation, that sure cleared it up. I think if you apply this specific rule to a lot of strategies, then they would be more succesful. I found often that i read someones strategy, try it out, and it won't work for me. Most likely that I trade too late (or to early), and not wait for the right entry with the RR. That will make a huge difference for sure.
I'm glad. For a minute, I thought my answer was too confusing.
  • #84
  • Aug 11, 2019 12:30pm Aug 11, 2019 12:30pm
Quoting rkkgs
Hidden
What is this?
  • #85
  • Aug 11, 2019 12:42pm Aug 11, 2019 12:42pm
I just too a quick look at the charts.

Correct me if I'm wrong but it looks like you could shorting the Pound against just about anything right now.
  • #86
  • Aug 11, 2019 12:53pm Aug 11, 2019 12:53pm
Quoting 6200trading
I just too a quick look at the charts. Correct me if I'm wrong but it looks like you could shorting the Pound against just about anything right now.
You are a longer term trader right..... Would you still short GU... While it's close to the low of the monthly chart?
  • #87
  • Aug 11, 2019 1:33pm Aug 11, 2019 1:33pm
Quoting Patje
{quote} You are a longer term trader right..... Would you still short GU... While it's close to the low of the monthly chart?
If I got a nice low risk entry I would.
  • #88
  • Aug 11, 2019 3:04pm Aug 11, 2019 3:04pm
Quoting edge540
{quote} English grammar lesson TRO "The only thing useless is your comments",what you meant to say was "The only thing useless are your comments". What's a "hoser" TRO?
Either way, you're useless. Seek professional medical attention for your TRO obsession. Type HOSER into your browser to discover yourself. Now go piss off and let the OP get on with their thread so others can read without your interference.

Apologies to 6200.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #89
  • Aug 11, 2019 3:48pm Aug 11, 2019 3:48pm
So you say you have some tp point but change that as soon it hits that point with a trailing stop. Am i right? How do you determine how much room you will give it to make those long nice trades?
  • #90
  • Aug 11, 2019 4:03pm Aug 11, 2019 4:03pm
Quoting Beerbelly
So you say you have some tp point but change that as soon it hits that point with a trailing stop. Am i right? How do you determine how much room you will give it to make those long nice trades?
Taking Profit is something I play by ear. Normally I will take some off when the market starts moving sideways which is many times a Support or resistance area. Sometimes I'll take it all off if I get the feel the move is done.
  • #91
  • Edited 4:44pm Aug 11, 2019 4:23pm | Edited 4:44pm
obviously this method is not one for beginners......there are no clear entry or take profit rules.....
you have a trend, a pull back between 20-50 sma, and at the first hint of price reverting towards the trend direction, you place your bets.
the first hint can just be the open and close of the daily candle be approx. in the same place.
just how I see it........
  • #92
  • Aug 11, 2019 4:30pm Aug 11, 2019 4:30pm
Quoting yonnie
obviously this method is not one for beginners......there are no clear entry or take profit rules.....
I'm not exactly sure what you mean. I don't believe anyone should be trading any real money unless they know what they are doing. The only method for a beginner would, of course, be practicing.
  • #93
  • Aug 11, 2019 4:53pm Aug 11, 2019 4:53pm
Quoting 6200trading
{quote} I'm not exactly sure what you mean. I don't believe anyone should be trading any real money unless they know what they are doing. The only method for a beginner would, of course, be practicing.
He is probably referring to recognizing a trend vs a sideways market. Lot's of people struggle with that, cause if you knew on time how to identify a trend and a sideways market, then it would be 10x easier to trade. However, based on your risk reward he could still figure it out as a beginner i think.

I just opened a short trade on the audnzd. I hope I got the risk, reward right. but was too impatient to wait for a red candle, but it did show a doji.
I might move my tp target, but will see how the next couple days go.

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Edit:
@yonnie. I would say trading is not simple for beginners regardless, look how many people fail, and how many years it takes before they are profitable. If you look at the 6200 signal you can see that he is very successful, and you be lucky if you learn that fast. You better listen too him. I found on youtube there are lots of people showing bullshit on demo accounts, or pointing out where to buy & sell on chart. Just look only for traders with real accounts.
  • #94
  • Aug 11, 2019 5:02pm Aug 11, 2019 5:02pm
Quoting 6200trading
{quote} I'm not exactly sure what you mean. I don't believe anyone should be trading any real money unless they know what they are doing. The only method for a beginner would, of course, be practicing.
sorry, our posts crossed while I was editing my post........I`m not critical of your method, not at all.......its just that you have some methods on FF with clearly defined entries i.e. after a pull back and 2 candles back into the trend, enter at the open of the 3rd candle.
and clearly defined exits i.e. have your stop 5 pips above/below the last daily candle and wait until stopped out.
in this case a beginner can participate almost straight away without much practise.
but I`m not saying at all that you have to go this route......just pointing out the difference.
  • #95
  • Aug 11, 2019 5:24pm Aug 11, 2019 5:24pm
hey Beerbelly, I`m with you on AUD/NZD......I just placed a sell order @ 1.0500.........I always try to get a better price, a discount so to speak........sometimes I miss the boat, but thats alright.........my stop loss is always smaller that way...........you win some, you lose some......
  • #96
  • Aug 11, 2019 5:38pm Aug 11, 2019 5:38pm
@6200trading - some questions for you, if you dont mind.

*the stats above this thread - are they from trading these 3 MAs alone?
*When you enter, do you wait for price to be below the 20 and 50 MAs or is the fact that these lines are falling enough for you enough to consider a trade?
  • #97
  • Aug 11, 2019 7:32pm Aug 11, 2019 7:32pm
Quoting Beerbelly
{quote} He is probably referring to recognizing a trend vs a sideways market. Lot's of people struggle with that, cause if you knew on time how to identify a trend and a sideways market, then it would be 10x easier to trade. However, based on your risk reward he could still figure it out as a beginner i think. I just opened a short trade on the audnzd. I hope I got the risk, reward right. but was too impatient to wait for a red candle, but it did show a doji. I might move my tp target, but will see how the next couple days go. {image} Edit: @yonnie....
I think the AUDNZD it a perfect example of what I look for. In fact, I will be putting in a pending order on the break of the Fractal on the H4 chart. As far as getting early (as I do on occasion as well), just be prepared for higher loss rate. Also, don't run away from the trade if you get a loser. It happened to me last week on the GBPAUD. I took a loss but got right back in.
  • #98
  • Aug 11, 2019 7:36pm Aug 11, 2019 7:36pm
Quoting yonnie
{quote} sorry, our posts crossed while I was editing my post........I`m not critical of your method, not at all.......its just that you have some methods on FF with clearly defined entries i.e. after a pull back and 2 candles back into the trend, enter at the open of the 3rd candle. and clearly defined exits i.e. have your stop 5 pips above/below the last daily candle and wait until stopped out. in this case a beginner can participate almost straight away without much practise. but I`m not saying at all that you have to go this route......just pointing...
I understand what you are saying. I just shy away from exact rules. In my opinion, exact rules take away your ability to question the setup. I always question setups. I always want a smaller stop loss to get bigger size. The big size trades that "take off" will make your account really grow.
  • #99
  • Aug 11, 2019 7:47pm Aug 11, 2019 7:47pm
Quoting Viv108
@6200trading - some questions for you, if you dont mind. *the stats above this thread - are they from trading these 3 MAs alone? *When you enter, do you wait for price to be below the 20 and 50 MAs or is the fact that these lines are falling enough for you enough to consider a trade?
To your first question, mostly yes. I do have another setup that I really like and there were a few trades using that setup but just a few. Since starting this thread, I intend on only using the pullback/relief rally setup.

As I mentioned earlier in the thread, the setup is not as important as most people want to think. However, it is important to choose one that has lots of signals. That is why I am using this one in this thread.

To your second question, if you are eyeballing the SMA's what you want are averages point in one direction with a gap while price is going in the direction of the trend. On the pullback/relief rally, the 20 will start moving towards the 50 and sometimes will even point in the wrong direction. This is when you start looking for the reversal.
  • #100
  • Aug 11, 2019 7:49pm Aug 11, 2019 7:49pm
Quoting yonnie
hey Beerbelly, I`m with you on AUD/NZD......I just placed a sell order @ 1.0500.........I always try to get a better price, a discount so to speak........sometimes I miss the boat, but thats alright.........my stop loss is always smaller that way...........you win some, you lose some......
There is nothing wrong with the way you enter. If you can enter with a very small of PIPS to you stop loss, you will get huge size on your risk. You will, however, lose much more often.
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