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4 Hour Strategy (MACD)

  • #8,481
  • Nov 15, 2007 3:52am Nov 15, 2007 3:52am
Quoting JimTatum
Please tell me what you think about my trade.

I entered long based on price breaking through 21 then coming back to it for support. I then waited for a green canlde to form on the macd indicating a trend continue pattern.

entry at 1.4677
sl 1.4628
1st tl 1.4697 i will close 50% and move to be
2nd tl 1.715

Thanks for the critique on the trade
I also enter the trade like you. What a pity, I set my tl @ 1.4714, and without any lot closed when taking profit. I quit with BE now
Plan your trades and trade your plans
  • #8,482
  • Nov 15, 2007 4:46am Nov 15, 2007 4:46am
Quoting saka
I also enter the trade like you. What a pity, I set my tl @ 1.4714, and without any lot closed when taking profit. I quit with BE now
Could have been worse, Saka...
I slept through the rally past 1.47 and missed moving my stop per my plan.
Sleep is evil...sleep is evil...sleep is evil...
  • #8,483
  • Nov 15, 2007 5:11am Nov 15, 2007 5:11am
I have taken the loss too. OK, let's wait for the next opportunity.
  • #8,484
  • Nov 15, 2007 5:34am Nov 15, 2007 5:34am
pls invite me on the skype chat, i got kicked out in some way...

username eklingfx

thanks
  • #8,485
  • Nov 15, 2007 6:04am Nov 15, 2007 6:04am
Quoting Foricks
Could have been worse, Saka...
I slept through the rally past 1.47 and missed moving my stop per my plan.
Sleep is evil...sleep is evil...sleep is evil...
Hey I Second that, i did go for the trade last night before going to SLEEP. Myprofit target was 1.4707 few pips below Resistance 1 of 1.4713 but price hit 1.4704 and retraced. i woke up at 3 am to check on it and was negative so because of the tails on recent candles and also the doji on the 00:00 candle i closed at -7. and i think i did the right thing. looking at it now. But no worries. Next set up Please.
Nadia
Attached Image (click to enlarge)
Click to Enlarge Name: euro tc.jpg Size: 219 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,486
  • Nov 15, 2007 6:26am Nov 15, 2007 6:26am
Hi,

do eur/usd and gbp/usd find support finally?

eur/usd on daily tl and gbp/usd on 365ema ?

what do you think?

Greetings
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd_.gif Size: 16 KB
  • #8,487
  • Edited 6:51am Nov 15, 2007 6:37am | Edited 6:51am
Quoting ashes
Hi,

do eur/usd and gbp/usd find support finally?

eur/usd on daily tl and gbp/usd on 365ema ?

what do you think?

Greetings
Depends on what tf you are asking...for G/U, I don't think so. Think we will see more downward moves, but will have bounces too. Just my opinion (but it did just tag & is sitting on the former resistance of the flag formed prior to the recent breakout on the daily charts).
  • #8,488
  • Nov 15, 2007 6:43am Nov 15, 2007 6:43am
To all of us non-superhumans...those of us who must sleep...here is an idea if you are concerned about missing your TP by a few pips:

Set an alarm on your computer 10 pips before your profit target (I do this for my break even levels -- once the trade is moved into BE, we can sleep undisturbed). Turn the volume up loud on your computer speakers, and sleep to the lovely blue glow (LOL!). This only works if you have a very nice spouse/significant other, or are single...or if you can sleep in a spare room once in a while.

If you can't do the alarm -- find a broker who moves your stop in blocks and figure out how many pips the trade must move in your favor to have the BE level reached and set it ahead of time. The drawback with this method, is you will usually get stopped out before your TP#2 is hit unless a very strong move occured.

Happy trading,
Pips
  • #8,489
  • Nov 15, 2007 6:57am Nov 15, 2007 6:57am
Out -43 on that one, still over 90% winners though so super happy
Keep taking CT trades, I need more money
  • #8,490
  • Nov 15, 2007 7:10am Nov 15, 2007 7:10am
Quoting Ryanmcd
Out -43 on that one, still over 90% winners though so super happy
Made 20 pips on 50% of my positiion. I also missed moving stop to be because of sleep. But I had a 20 trailing stop on 2nd 50% of my position. So I lost 29 pips on that. Net trade lost -9.

What brokers let you move stops in blocks?????
  • #8,491
  • Nov 15, 2007 7:28am Nov 15, 2007 7:28am
Quoting pips4uandme
FXCM is who I use & stops are done in numerical blocks that I specify.
Is that the same as a trailing stop?
  • #8,492
  • Nov 15, 2007 7:39am Nov 15, 2007 7:39am
Quoting JimTatum
Is that the same as a trailing stop?
Yes -- It is one type of trailing stop

I just deleted my original post so it doesn't look like I'm promoting one broker over another.

LOL!! Just realized that you quoted my post...didn't matter if I deleted
  • #8,493
  • Nov 15, 2007 9:00am Nov 15, 2007 9:00am
  •  iPip
  • | Joined Nov 2007 | Status: Listen to the rhythm of the market | 5 Posts
Quoting pips4uandme
To all of us non-superhumans...those of us who must sleep...here is an idea if you are concerned about missing your TP by a few pips:

Set an alarm on your computer 10 pips before your profit target (I do this for my break even levels -- once the trade is moved into BE, we can sleep undisturbed). Turn the volume up loud on your computer speakers, and sleep to the lovely blue glow (LOL!). This only works if you have a very nice spouse/significant other, or are single...or if you can sleep in a spare room once in a while.

If you can't do the alarm -- find a broker who moves your stop in blocks and figure out how many pips the trade must move in your favor to have the BE level reached and set it ahead of time. The drawback with this method, is you will usually get stopped out before your TP#2 is hit unless a very strong move occured.

Happy trading,
Pips

Hey Pips,
I'm using MT4, are you, and if so how do you set an alarm?

Thanks
iPip
  • #8,494
  • Nov 15, 2007 9:23am Nov 15, 2007 9:23am
Info
Attached File(s)
File Type: zip Daily Wrapup 15 Oct2007.zip   829 KB | 1,316 downloads
  • #8,495
  • Nov 15, 2007 10:36am Nov 15, 2007 10:36am
Hey Phillip thanks for your wrap up.
I had in my plan to do exactly as you said in your wrap up. But I went to sleep and was not able to move my stop to break even. I did have a trail of 20 on 50% of my position so I only loss a net of 9. But any Ideas for how to get a price alert. Or manage the trade better. I would have moved to breakeven if I was alerted.

Jim
  • #8,496
  • Nov 15, 2007 11:00am Nov 15, 2007 11:00am
Quoting Phillip Nel
Info
Great MP3, I like the idea of taking some off and using the profit as a risk stop. I got stopped because I went to sleep, it was very light because the movement is all over the place.
Keep taking CT trades, I need more money
  • #8,497
  • Nov 15, 2007 11:01am Nov 15, 2007 11:01am
Info
Attached Image (click to enlarge)
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  • #8,498
  • Nov 15, 2007 11:04am Nov 15, 2007 11:04am
Quoting Ryanmcd
Great MP3, I like the idea of taking some off and using the profit as a risk stop. I got stopped because I went to sleep, it was very light because the movement is all over the place.
Agree. Movement is uncertain now. I will look to find some range and see if I can trade that.
  • #8,499
  • Nov 15, 2007 11:12am Nov 15, 2007 11:12am
thankyou Phillip for pointing out the alert indicator. I did not know it was there.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #8,500
  • Nov 15, 2007 12:20pm Nov 15, 2007 12:20pm
Quoting Golfer
I entered on the opening of what I think is a TC candle. Candle close was above 21, moved back to 21. Now on its way to 89. SL was 40pips. My aims as indicated on the chart. Already 30pips in profit.

Lets see what going to happen. Not really the two pairs I am following but I just saw the rules reflected in the chart, SL was not that far away, RR not to bad and thought I'll give it try.
Hi Phillip

Tx for the advice on daily MP3 regarding the $Y. Noted. And yes, pressure from above and the price went down.

I did manage a nett 15pips profit. Moving SL to BE after a few pips profit is very improtant.
Attached Image (click to enlarge)
Click to Enlarge Name: 2007114 4h trade 1 b.gif Size: 24 KB
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