Have you removed vegas levels from your charts for good or is it on this occasion only?
Regards
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DislikedHi BB
Have you removed vegas levels from your charts for good or is it on this occasion only?Ignored
DislikedLast night I traded the g/j. The crossed looked good but I didn't like the 138 pip SL which would have been the high of the last candle...oouch....so I went to the 4H chart to see where I might place the SL. I settled for around 80+ pips.....
I wake up this morning to find my SL taken out and then retraced back to the positive.....Man was I mad....
Any thoughts on what you would have done for a stop loss...? Or is this one of those trader that you put down to experience!!
Thanks
BillserIgnored
Dislikedbillser................how did this happen? The cross was two days ago, not yesterday, and the trade has been a good one!Ignored
DislikedTwo days ago.... ....on my charts below it crossed yesterday unless I'm doing something wrong
Blue line is the cross and trade was the next candle...Ignored
DislikedHello Howard............
I see you are carefully watching my charts.................
Vegas was off in the last screen shot for display purposes only. When I am testing, I often add and remove indicators for convenience and clarity sake. But I still like using the fib levels on the Vegas Daily display. As stated before, I'm always tweeking. HTH!Ignored
Dislikedbill,
i dont know how drsi works but if it means a short when there is a cross at the lower end of the envelope then you are right., a normal fozzy cross occured a couple of days back as beach mentions...
and if i remember right, you DID take the gbpyen a couple of days back too!!!!Ignored
Dislikedbillser................how did this happen? The cross was two days ago, not yesterday, and the trade has been a good one!Ignored
DislikedYou guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.Ignored
DislikedYou guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.Ignored
Dislikedbeach which version of the AO indicator are you using.......and yes I do realise that it is probably my Sunday candle messing with my head and broker input......Ignored
DislikedWhich leads to the question offffffffffff.....do you only take Fozzy trades in the direction of the trend.....??Ignored
DislikedI see you are using the Dynamic Zone RSI indicator, which I don't particularly like. I use the AO_FozzySignalALL (I posted it recently). BUT...I always visibly verify the cross and look at the "values" to be sure I have a clean cross and not a "bounce". This indicator has served me very well since originally posted by 'miscon777'.Ignored
DislikedAnd that leads to the next question of......how to determine what the current trend is?Ignored
DislikedI am a Trend Trader
EVERYONE SHOULD TEST OUT THIS VERY UNUSUAL AND RARELY USED STRATEGY;
1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
3. bank your profits
Firstly, how do you know what the trend is?
DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.
1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.
2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.
3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL
The trend is the BEST friend you will ever have in the Forex market.
When you trade with the trend, even if you make a mistake, the market will get you out of your problem....If you make a mistake and you are fighting the trend ...YOU ARE STUFFED, BIG TIME !!!Ignored