i was very lucky to close my long in EU after m5 TL breaked down and there was 3rd doji in H1.no im waiting for neckline breakdown for short (sHs forming)
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Which left shoulder do you see as the important one, from the 13th or from the 14th, because the necklines are different.
Thanks, Michael
I just had that innervoice that was not at peace. But there was nothing wrong with the signal and our analyses. The only thing maybe the high price level and the lower high on the MACD and the possibility of a lower right shoulder of the sHs which would have made the R:R not OK. That would be my reason for being wrong.
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Joined Jan 2007
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Status: Holy Pips Batman!
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Hi All,
Been a loooong time since I"ve posted here.. good to see everyone is still going hard at it. Since moving away from this strategy to a degree (just modifying it really with personal rules to fit my personallity), I've seen many many similar systems that look very different but in reality are very very close to each other. The nuances make a WORLD of a difference.
A long story short, the current strategy I've developed uses a lot of the h4 MACD Phillip so kindly showed me the way with about 1 1/2 years ago. I just didn't realize it until today... the final part of my strategy that I noticed today, is that what I use to define the trend matches almost exactly to the 89 sma that Phillip uses as his trend direction, which made me laugh for quite sometime.
So, without taking the thread off topic, I'll just mention this quickly, I didn't take E/U long because I use the ichi cloud to define the trend, as mentioned earlier matches almost exactly the 89sma as used here. The ichi just adds a bit more "room" to the 89.
I'm having great success with it... so I just wanted to pass that on and mention that PHillips system has an amazingly solid base... just study it, and you'll all get there..
DireXiv,
I remember reading your posts about a year ago. Glad you are having success.
There was a good opportunity to short the Euro. Bearish engulfing candle, along with a MACD signal gave this a good probability of going South.
I had my entry set at 1.5896 to better my RR Ratio, but it unfortunately only reached 1.5893 (the 89 on the 1 Hour).
The trend is still long though, and the Euro is nearing a TL and the 89. Will patiently wait for another opportunity.
I am really sorry for your loss . Accidents can happen. I hope you make it back up and lots more with success in near future.
Nadia.
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It is no big deal really I went from a demo to the real thing last month however I did not put a whole lot of money in yet (thank goodness) just taking baby steps I figure that is the best way.
hllo, DireXiv, you are absolutely a grand old man of this thread, I remember, when I began to study this thread, welcome back.
It seems that my anticipate is right, eu has formed a sHs, but i didn't enter, I longed uj with half lot
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Good job Saka! That was a nice engulfer.
Did you enter on a retrace or the candle open? I had an entry order missed by 3 pips on both the JPY and EURO. Frustrating to say the least.
DireXiv,
I remember reading your posts about a year ago. Glad you are having success.
There was a good opportunity to short the Euro. Bearish engulfing candle, along with a MACD signal gave this a good probability of going South.
I had my entry set at 1.5896 to better my RR Ratio, but it unfortunately only reached 1.5893 (the 89 on the 1 Hour).
The trend is still long though, and the Euro is nearing a TL and the 89. Will patiently wait for another opportunity.
Ignored
That is where a good short term strategy comes into play. Price turned around and the smaller timeframe gives one the oppertunity to make some pips and the loss ocurred sometimes completely but mostly partially regained.
That bearish engulfing gave the chance when it pulled below the TL.
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal. But at least we did some live trades together in May that did well.
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal. But at least we did some live trades together in May that did well.
Ignored
Hi Phillip,
I dont think you should feel the need to say sorry to us people as we have learned so much from your generous self. And as today's trade has taught us, losses are part of the business that we call Trading!
I just want to thank you for all the effort you have put into the system & into teaching people like myself.
Thank you Philip for this great thread.I read now that most of people today get burned-including me.Ok we will have many another opportunities to make another succesiful trades.Life is go on so keep this thread this way Philip-you make this the best way.Thank you and to all of you guys that keep alive that thread.We will with the time.Thank you.I forgot today Eus/USD deal that I lost and I am happy to be with you.Thank you
Hello Phillip our trades are our resposibility and i dont think you should be sorry . A teacher teaches and it is up to the students for the result. I actullay shorted the euro and gu at 1200 candle on alpari demo. GMT +2. unfortunately my loss was on live account but i wanted to see that if my initial trade goes in loss and if i see an an opportunity to trade in the other direction with a reasonable SL and TP how it would work, I did not take it on live account because emotions can be in the way after a loss. here were my entry and exits.
Euro:
Enter 1.5878
TP 1.5840
SL 1.5924
result +38 pips
On another note while i was in Long trade this morning i did see opportunity to minimize loss and signs of reversal on 5 minute but did not want to close beacuse sometimes when i have done that price takes a turn and goes back in the original direction. And i end up with a loss and consider it an emotional decision. I guess i need more experience in both the time frames to actually realize when it is a reversal and when it is just a correction.
Anyways.fomc minutes out in 1.5 hours. so market will be still volatile. will wait for a clear set up
Nadia.
On another note while i was in Long trade this morning i did see opportunity to minimize loss and signs of reversal on 5 minute but did not want to close beacuse sometimes when i have done that price takes a turn and goes back in the original direction. And i end up with a loss and consider it an emotional decision. I guess i need more experience in both the time frames to actually realize when it is a reversal and when it is just a correction.
Nadia.[/quote]
Nadia,
I traded 2 lots with 1 lot with a TP at 20 pips and I put my SL below to 50MA on the 5 min (approx 20 pips). I changed it to this after I read phillips post regarding divergence and sHs. Just something I'm trying out, but have not fully backtest. Just a thought
Raymond
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal. But at least we did some live trades together in May that did well.
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please dont tell this again .u leared us alot of things till now and please dont never say things like this.
i sold eu after it breaks down the neckline in shorter TF (ur another wonderfull strategy) for 20pips and im wondering did u short or not?
thx
