Disliked{quote} Closed this trade at BE before News, thank god else I'll be drowning in water right nowIgnored
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Disliked{quote} Closed this trade at BE before News, thank god else I'll be drowning in water right nowIgnored
Disliked{quote} I consider getting out at B/E as a win! Not losing is important. You live to trade another day!Ignored
Disliked{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.Ignored
Disliked{quote} in a healthy ternd, the high/low of entry candle is never breached.Ignored
DislikedHere'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. {image} {file} {file} {file} {file} {file}Ignored
DislikedMorning Guppy Traders, Entered Short on EURJPY as the Candle Closed below Channel & LT & ST are changing direction too... let's See {image}Ignored
Disliked{quote} Thank you. The attached alerts help. Just be sure to use the correct one! {file} {file}Ignored
Disliked{quote} Ji Sure, Still Learning , how to find continuation pattern with this system, pls suggest thanksIgnored
DislikedUSDCHF H4 new trend, pullback, now a breakout. I entered just above the close of the breakout candle, not the highest point. Stop is on the more distant channel line. {image}Ignored
Disliked{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...Ignored
Disliked{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 , 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 tableIgnored
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.
DislikedAgreed, 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.....Ignored