{quote} I the steep drop in oil price was the wrecking ball... After a great start, my 3K demo acct. is at about 10% DD. Soon to begin recovery.
Masterrmind We used to speak about taking Octaves from Highs to Lows here is my attempt of October Highs & Lows ? {image}
Just practicing with my Octaves and drawing tools ? {image} {image}
{quote} Question is what would be your setup with SL, Entry and Target. Masterrmind........
{quote} Firstly I want to make a few more charts for comparison Not decided yet, which is best for look-back period for Octaves but it would never be shorter than 256 or a actual year H/L If Octave gap is too big at least I know were I sit long term so it's just a matter to sub divide the level buy 8 I have showed you many times how Murrey termed his Octave acceptance or rejection, obviously some levels are better than others Mt4 is absolutely hopeless at scaling, so on charts shown with mine also having a Sunday bar the 32 64 128 etc day reference...
{quote} You have said it all in your first sentence, but thought it was worth a look for a few long term positions, when the dust as died down from all the commotion that's happening at the moment.
{quote} Seems a sensible thing to do Could I just ask was this a Quad entry trade ? or an Octave trade
{quote} Fair comment, thanks for clearing that up It would be a real shame if you cannot get a good runner from this one
{quote} My thoughts are simple, Your 1k account seems a hindrance to what you are trying to show, it gives no flexibility both in time-frame and taking additional pairs whilst in the first trade to speed things along, also as you say it as not allways been traded in a strict Quad manner ( I have no problem with that as I understand your motives) To me as a life long Murrey man I after admit that I do see more value in taking Highs & Lows ( Swings) of various sizes and then divide them by 8 as you have said earlier To be honest with your trading...
{quote} Out of respect to you and the thread, not wishing to divert any attention away from the thread purpose I have deleted my posts, at least the one's I still can. Dave
USDCHF Stop Loss now locked in at the 95 handle. Much tighter trailing at about 50 pips below current price but with a very real risk of a weekend gap it is either take the profit now or run a tight stop.... a tight stop was my approach. Masterrmind........
{quote} USDCHF Taken out due to tightened stop. +1.6% gain. A small move in the right direction as far as the equity curve is concerned. Masterrmind........
{quote} Yes, definitely retreated... I was within 12 pips of TP, but not meant to be, YET. The Cad/Jpy trade @0.04 lots taken at OFS has done much to reduce DD. At one point over the course of the week all DD had been erased. That was not to last, and current DD stands at about 3%, down from about 10%. The approach is sound, and I expect a full recovery of funds lost. {image} {image}
