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  • #3,101
  • Sep 15, 2020 3:20pm Sep 15, 2020 3:20pm
Another red day.. My fault, ofc, the problem is that I realise the mistake after executing it..

Determining whether the pair is tradable or not (atm) is still a big unknown for me.. Can't get a hang of it..
  • #3,102
  • Sep 15, 2020 3:43pm Sep 15, 2020 3:43pm
Quoting MrAnta997
Another red day.. My fault, ofc, the problem is that I realise the mistake after executing it.. Determining whether the pair is tradable or not (atm) is still a big unknown for me.. Can't get a hang of it..

I hope you are testing all this via demo first
How many pairs are you watching?
  • #3,103
  • Edited 4:45pm Sep 15, 2020 4:34pm | Edited 4:45pm
Here is my earlier trade from today on USDJPY. Missed the perfect entry on the touch of the upper channel by a few pips. I closed it out in good profit. Now seeing a continued very strong downtrend. Waited for a good setup and re-entered. Going to target Daily Low, but see how the market reacts and if it goes in my favour, will continue to ride the trend.

Thanks Laura, happy trading everyone
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  • #3,104
  • Sep 15, 2020 9:43pm Sep 15, 2020 9:43pm
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
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First trade slippage... for some reason..
second trade just now...

Able to place trades with confidence , thanks to Laura

Simple rule i follow is believe the system and follow.
Good pips to all
All things are difficult before they are easy.
  • #3,105
  • Sep 16, 2020 2:08am Sep 16, 2020 2:08am
Fast trade on Dow , taken 3 trade so far today holding another 2 with slight drawdown and coming back up and still holding the trade.

Thanks to Laura

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  • #3,106
  • Sep 16, 2020 2:16am Sep 16, 2020 2:16am
Quoting firewir3
Fast trade on Dow , taken 3 trade so far today holding another 2 with slight drawdown and coming back up and still holding the trade. Thanks to Laura {image}
Nice - I took the same trade
  • #3,107
  • Sep 16, 2020 2:42am Sep 16, 2020 2:42am
Wow really, I feel proud that my teacher got in the same trade as me

Anyway I still holding another 2 trade since asian its went through drawdown abit but I didn't close below/above SMA200 so Im still holding it and the price reverse i'm slight breakeven stage right now , it amaze me that putting a much larger stop and giving price enough space to breath as preach by Laura would allow a loser become winner back as all my previous strategy was only letting winner become loser
  • #3,108
  • Sep 16, 2020 3:04am Sep 16, 2020 3:04am
Hi Laura,

May I ask do you take trade on high correlation pairs?may I know how do you manage it? Do you trade most of pair using Hanover indicator or just major USD pairs with oil/indices only?
  • #3,109
  • Sep 16, 2020 3:08am Sep 16, 2020 3:08am
Quoting firewir3
Hi Laura, May I ask do you take trade on high correlation pairs?may I know how do you manage it? Do you trade most of pair using Hanover indicator or just major USD pairs with oil/indices only?
I mainly trade oil and indices these days but, when I do trade forex, I'm careful not to get too heavily stacked in correlated pairs.

For example, if yen is weak, I'll choose one currency to short it against. I won't enter multiple yen pairs at once.
  • #3,110
  • Sep 16, 2020 3:15am Sep 16, 2020 3:15am
Quoting LauraT
{quote} I mainly trade oil and indices these days but, when I do trade forex, I'm careful not to get too heavily stacked in correlated pairs. For example, if yen is weak, I'll choose one currency to short it against. I won't enter multiple yen pairs at once.
Thank you so much for you reply Laura noted
  • #3,111
  • Sep 16, 2020 4:41am Sep 16, 2020 4:41am
Quoting firewir3
Wow really, I feel proud that my teacher got in the same trade as me Anyway I still holding another 2 trade since asian its went through drawdown abit but I didn't close below/above SMA200 so Im still holding it and the price reverse i'm slight breakeven stage right now , it amaze me that putting a much larger stop and giving price enough space to breath as preach by Laura would allow a loser become winner back as all my previous strategy was only letting winner become loser
Giving enough room on SL seems to have solved many of my problems as well "HighFive"!
  • #3,112
  • Edited 5:03am Sep 16, 2020 4:52am | Edited 5:03am
Todays trades (demo) (I think) entries were decent lets see how it goes ( missed first 3 hours of London session)


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What you seek is seeking you. -Rumi
  • #3,113
  • Edited 5:15am Sep 16, 2020 5:01am | Edited 5:15am
Quoting KPTrading
{quote} Giving enough room on SL seems to have solved many of my problems as well "HighFive"!
Yeah "High Five" , its does work! below was the 2 example trade I holding on as both of them didn't cross back SMA200 the intial take profit would be at previous day hi/lo but I remember Laura shared on one of her post that as price move further away from channel we might see some retracement so taken profit and wait for the next opportunity.

AUDUSD
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USDCHF
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  • #3,114
  • Sep 16, 2020 5:39am Sep 16, 2020 5:39am
Quoting firewir3
{quote} Yeah "High Five" , its does work! below was the 2 example trade I holding on as both of them didn't cross back SMA200 the intial take profit would be at previous day hi/lo but I remember Laura shared on one of her post that as price move further away from channel we might see some retracement so taken profit and wait for the next opportunity. AUDUSD {image} USDCHF{image}
Nice one! I also got in that USDCHF drop. But I entered later as I was not fully awake yet
  • #3,115
  • Sep 16, 2020 6:52am Sep 16, 2020 6:52am
Can I ask for some clarification on a type of entry please?

I think this was a valid SMA kiss on the USDJPY earlier. Full compliance with MTF lower time frames and RSI was well below 40 at the time I believe.

What are you looking for to enter in this scenario - Is it the channel touching the SMA or getting extremely close? The market rejected the SMA once the channel touched it and crossed back to the other side, where would other people have pulled the trigger short?

Many thanks, any advice is greatly appreciated
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  • #3,116
  • Sep 16, 2020 7:50am Sep 16, 2020 7:50am
[quote=L1ghtning;13168101]Can I ask for some clarification on a type of entry please? .

You ask a difficult question which has many answers--depending on your experience.
Here is one example for you which comes from Laura's Roadmap/work---

1----Use a short term uptrendline from the previous low.

2----Price rolls over and starts reversing,------closing outside the lower envelope line.

3----If you remember, Look Left to observe that every Higher Low on the up move could be used as confirmation to enter short on the down Move

Hope you understand Laura's concepts, as that's what the above is saying.
  • #3,117
  • Sep 16, 2020 9:35am Sep 16, 2020 9:35am
Quoting L1ghtning
Can I ask for some clarification on a type of entry please? I think this was a valid SMA kiss on the USDJPY earlier. Full compliance with MTF lower time frames and RSI was well below 40 at the time I believe. What are you looking for to enter in this scenario - Is it the channel touching the SMA or getting extremely close? The market rejected the SMA once the channel touched it and crossed back to the other side, where would other people have pulled the trigger short? Many thanks, any advice is greatly appreciated {image}
Hi

Ben's answer above doesn't require me to add much. But, just to confirm, the trigger for a short would be that first bar closing below the EMA channel. Which would also have been the break of an ascending trendline.
  • #3,118
  • Sep 16, 2020 10:03am Sep 16, 2020 10:03am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
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Another one... just textbook trade..
All things are difficult before they are easy.
  • #3,119
  • Sep 16, 2020 10:05am Sep 16, 2020 10:05am
Quoting LauraT
{quote} Hi Ben's answer above doesn't require me to add much. But, just to confirm, the trigger for a short would be that first bar closing below the EMA channel. Which would also have been the break of an ascending trendline.
Thank you very much and Ben/ btrfx1
  • #3,120
  • Sep 16, 2020 10:08am Sep 16, 2020 10:08am
Quoting vrama
{image} Another one... just textbook trade..
Remember trendlines so that you aren't fighting momentum
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