{quote} Closed this trade at BE before News, thank god else I'll be drowning in water right now
Guppy's Multi-Moving Average (GMMA)
- #362
- Feb 10, 2022 9:52am Feb 10, 2022 9:52am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Closed this trade at BE before News, thank god else I'll be drowning in water right now
one more suggestion. on entry, place your stoploss at opp ema channel, if you are not monitoring the trade...
if you are monitoring the trade, and price moves more than 50% of your entry candle, shift SL to entry candle high/low.
at least your loss will be minimal.
in a healthy ternd, the high/low of entry candle is never breached.
- #363
- Feb 10, 2022 9:56am Feb 10, 2022 9:56am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} I consider getting out at B/E as a win! Not losing is important. You live to trade another day!
in my notebook, iwill write this in golden letters
{quote} great kd. trading news is extremly difficult. retail traders should not . always better to trade after the news impact. one more suggestion. on entry, place your stoploss at opp ema channel, if you are not monitoring the trade... if you are monitoring the trade, and price moves more than 50% of your entry candle, shift SL to entry candle high/low. at least your loss will be minimal. in a healthy ternd, the high/low of entry candle is never breached.
{quote} in a healthy ternd, the high/low of entry candle is never breached.
Regret is Brutal
- #365
- Edited Feb 11, 2022 12:00am Feb 10, 2022 11:10pm | Edited Feb 11, 2022 12:00am
Here's a possible new trend/pullback setup on CADJPY H4.
Also, to make things easier for others to set up the Walvekar charts, I have created a separate file for each MA line. See attached. The only thing you will have to do yourself is to change the MA period for each of the LT inner lines.
Also, to make things easier for others to set up the Walvekar charts, I have created a separate file for each MA line. See attached. The only thing you will have to do yourself is to change the MA period for each of the LT inner lines.
- #369
- Feb 11, 2022 12:53am Feb 11, 2022 12:53am
{quote} Nice Catch Spudfan
- #371
- Feb 11, 2022 6:37am Feb 11, 2022 6:37am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Morning Guppy Traders, Entered Short on EURJPY as the Candle Closed below Channel & LT & ST are changing direction too... let's See {image}
looks like you are trading pullback. you will make green pips i am sure. but trading continuation pattern is a high probablity low risk trade.
{quote} Ji Sure, Still Learning, how to find continuation pattern with this system, pls suggest thanks
I didn't annotate this, but the pullback very neatly reaches the LT EMAs (and the fibo 50% level almost exactly) before resuming in the direction of the trend. Now I am just waiting for a breakout from the channel and it's time to pull the trigger. But not on a Friday afternoon, unfortunately.
{quote} Stopped out by my trailing stop at the lower channel line. The previous candle had closed above the channel, so there was no candle close inside the channel yet to make me partially close anything or take other action. As the general bias is bullish, this trade *should* continue up. I'm in two minds about setting the stop on the channel boundary. The logic of this practice is clear though. We want to get out of any trade that does not display a strong trend as in all candles closing outside the channel, so closing soon or decisively like...
, imo managing the existing trade is still a tough battle this is where fear & greed comes up and in return either we close in loss or left the pips on table Regret is Brutal
{quote} as suggested by walvekarraje we can adjust the Sl on entry candle Hi or low (If the trend is strong it'll never crossed the hi or low) or we can trail the sl but sometimes trail sl usually hit easily
The channel test: A trade is considered strong as long as the candles close beyond / outside the 10 EMA channel. This is true even if you get a bullish candle in a downtrend or a bearish candle in an uptrend. But, if a candle closes inside the channel, it signals weakness, so move the SL to break-even if in the early stages of the trade or to the inner end of that candle (the end closest to the L/T MAs) if in significant profit. Also consider taking partial profit
The RSI test: Consider taking profit if RSI 6 does not remain below RSI 12 (for a sell). If RSI 6 closes above RSI 12, but both remain below 50%, you can stay in the trade, but you need to watch the price action and decide accordingly. If RSI 6 closes above 50%, definitely book profits, partial or total depends on you.
Agreed, both of his method are standard part of this System and if still sl is getting hit then there is no harm i guess , what i observed is generally 60 to 70% of the time my targets got hit and there are 30% of the time where my sl got hit ( when i put it on channel hi or low) so this is fine i guess , also what i usually do is i split my position size into two trades like i usually open 0.20 lot fixed so i split into 2 orders 0.1 each and i closed my my order when i get set target like 10 pips or so rest i keep it open at channel high or low.. just my 2 cents
Regret is Brutal
Agreed, both of his method are standard part of this System and if still sl is getting hit then there is no harm i guess , what i observed is generally 60 to 70% of the time my targets got hit and there are 30% of the time where my sl got hit ( when i put it on channel hi or low) so this is fine i guess , also what i usually do is i split my position size into two trades like i usually open 0.20 lot fixed so i split into 2 orders 0.1 each and i closed my my order when i get set target like 10 pips or so rest i keep it open at channel high or low.....
. It's very useful for newcomers to this system to be discussing it and trying to work it out properly.What you said about trailing on the channel is something I also thought about. If we are choosy and go for only the stronger trends where the candles close outside the channel, then trailing on the channel isn't a problem. The question is how to pick a stronger trend - it's easy to see it after it's happened, less so live.
yeah things are looking very pretty and attractive on Left but the real battle is on Right Hand Side 
as far as stronger trend is concern i think we can predict it by checking the Gap or Compression between LT & ST guppy, the more the gap or distance strong is the trend i guess, what Say ?
as far as stronger trend is concern i think we can predict it by checking the Gap or Compression between LT & ST guppy, the more the gap or distance strong is the trend i guess, what Say ? Regret is Brutal