As soon as the spread thins down a bit, looking to go short @ 1.1740-1.1750.
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- Oct 28, 2020 4:16pm Oct 28, 2020 4:16pm
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- Oct 28, 2020 4:21pm Oct 28, 2020 4:21pm
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Don't compare your trades to others. Most often the masses are the asses
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- Oct 28, 2020 4:29pm Oct 28, 2020 4:29pm
- Joined Jan 2019 | Status: Trader | 2,656 Posts
Don't compare your trades to others. Most often the masses are the asses
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- Oct 28, 2020 4:33pm Oct 28, 2020 4:33pm
- | Joined Nov 2019 | Status: Trader | 2,763 Posts
{quote} "Urban" traders? What the actual fuck do you mean?
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- #1,186,415
- Oct 28, 2020 6:31pm Oct 28, 2020 6:31pm
Good Morning Asia Traders.
Yesterday was risk off due Europe's worsening COVID. But COVID is not a new mysterious issue, hence this may not be like March 2020.
My own view of EURUSD
The bounce from 25 Sep looks like a correction and also break a short rising line, but it is taking too long to unfold and went too far up.
It also seems to be using the Head-Shoulders neckline....as a support.
Shown below is the usual bearish view.
Far bottom, is my alternate bullish view. Looks ridiculous, but if the market forces somehow follows this, then we should follow the pips.
(Alternate Bullish view, see below)
Yesterday was risk off due Europe's worsening COVID. But COVID is not a new mysterious issue, hence this may not be like March 2020.
My own view of EURUSD
The bounce from 25 Sep looks like a correction and also break a short rising line, but it is taking too long to unfold and went too far up.
It also seems to be using the Head-Shoulders neckline....as a support.
Shown below is the usual bearish view.
Far bottom, is my alternate bullish view. Looks ridiculous, but if the market forces somehow follows this, then we should follow the pips.
(Alternate Bullish view, see below)
- #1,186,416
- Oct 28, 2020 7:49pm Oct 28, 2020 7:49pm
- Joined Dec 2019 | Status: Trader | 5,597 Posts
Learn from your mistakes and march on.
- #1,186,417
- Oct 28, 2020 8:43pm Oct 28, 2020 8:43pm
My strategy for EURUSD
Works for every major currency pair, based on Daily bars.
No indicators or oscillators needed.
Based on more than 10 years of history data check.
Martingale strategy. Average Down strategy.
Most of the trades in 1st entry will close in TP, but if price goes against the trade, we will open additional trades once a day until we close all open trades as a “basket” of trades when sum of money of the basket is positive.
Conditions:
If difference in pips between Open to Close (or Close to Open) of previous daily closed bar is more than 110 pips, then at the open of current day - open a market order to the opposite direction of previous day.
i.e: if yesterday’s daily bar is Bullish (moved up) and BODY (Close price - Open price) is more than 110 pips, then today at the Open of new daily bar, at 00:00, open Sell market order.
Note: if spread at midnight is too high (more than 4.0 pips) – Don’t open a trade yet. Wait with market order till spread narrows back. It may take even 1-2 hours but usually it will take only a few minutes. So once spread is less than 4.0 pips, open the trade.
TP = 20 to 50 pips, depends on currency’s volatility.
No SL.
If price goes from last entry against the direction of the trade, open at the Open of every new day an additional market order with same lot size as original trade. No TP for additional trade.
Close all trades together when sum of all open profitable and losing trades (“basket“) is positive (may be 0.1$ or 1$).
Instead of SL: If sum of all open trades (“basket”) is losing more than 25% of account balance – close all trades. *This may happen once in a decade if at all.
*110 pips - depends on currency’s volatility. Can be 70 pips for low volatility currencies and on the other hand can be 150 pips for high volatility currencies
For account balance of each 2,000 the fixed lot size will be 0.03.
i.e if account balance is 12,000 and up to 13,999 than fixed lot size is 0.18
i.e if account balance is 20,000 and up to 21,999 than fixed lot size is 0.3
https://www.forexfactory.com/thread/...o-trade-simple
Works for every major currency pair, based on Daily bars.
No indicators or oscillators needed.
Based on more than 10 years of history data check.
Most of the trades in 1st entry will close in TP, but if price goes against the trade, we will open additional trades once a day until we close all open trades as a “basket” of trades when sum of money of the basket is positive.
Conditions:
If difference in pips between Open to Close (or Close to Open) of previous daily closed bar is more than 110 pips, then at the open of current day - open a market order to the opposite direction of previous day.
i.e: if yesterday’s daily bar is Bullish (moved up) and BODY (Close price - Open price) is more than 110 pips, then today at the Open of new daily bar, at 00:00, open Sell market order.
Note: if spread at midnight is too high (more than 4.0 pips) – Don’t open a trade yet. Wait with market order till spread narrows back. It may take even 1-2 hours but usually it will take only a few minutes. So once spread is less than 4.0 pips, open the trade.
TP = 20 to 50 pips, depends on currency’s volatility.
No SL.
If price goes from last entry against the direction of the trade, open at the Open of every new day an additional market order with same lot size as original trade. No TP for additional trade.
Close all trades together when sum of all open profitable and losing trades (“basket“) is positive (may be 0.1$ or 1$).
Instead of SL: If sum of all open trades (“basket”) is losing more than 25% of account balance – close all trades. *This may happen once in a decade if at all.
*110 pips - depends on currency’s volatility. Can be 70 pips for low volatility currencies and on the other hand can be 150 pips for high volatility currencies
For account balance of each 2,000 the fixed lot size will be 0.03.
i.e if account balance is 12,000 and up to 13,999 than fixed lot size is 0.18
i.e if account balance is 20,000 and up to 21,999 than fixed lot size is 0.3
https://www.forexfactory.com/thread/...o-trade-simple
- #1,186,418
- Oct 28, 2020 9:49pm Oct 28, 2020 9:49pm
- | Membership Revoked | Joined Oct 2020 | 1,823 Posts
I will tear the world apart for you.
- #1,186,419
- Oct 28, 2020 10:40pm Oct 28, 2020 10:40pm
- Joined Mar 2012 | Status: Servant of wealth | 1,193 Posts
