I think you misread my post. I said "I am NOT here looking for a holy grail, I am here looking for learning oppurtunities"
I didn't misread your post, i actually liked your attitude, but i just wanted to let you know about HOLY GRails in forex
Not for me. Think I have set something up incorrectly. No matter, its playmoney.
I have set up on 4 pairs. Two of them had a range greater than 55, so I did not trade those:
USD/JPY 41 pips range - Hit stop loss and made a loss on buy trade at 109.21
GBP/USD 73 pips range - No trades set
USD/CHF 41 pips range - Sold at 1.1078 - Take profit of 15 pips hit, two other orders still open and in profit with take profits of 30 and 45 pips
respectively.
AUD/USD 75 pips range - No trades set
David
That a extremely right practice of trading, you didn't take the high range pairs which i did, its good it profited me 15+15 pips on the eur and gbp, but that was a risky trades, thanks for teaching me a thing too
Thanks for letting me know about USD/JPY i've now dropped that one and replaced it with EUR/USD. Looks like a better.
By the way. Since I am asking so many annoying questions I thought I better introduce myself. So I have done so here rather than hijack this thread.
http://www.forexfactory.com/showthre...=1#post2196614
By the way. Does this strategy intend to make a single trade per pair/per day? Or multiples?
I think ill booze and have some stuff, get stoned and visit your thread a little later,
BTW, no question is annyonying sir, we all teach and learn things if we have the IQ and the "annyonyng" questions
Offcourse it works only once a day between 7-9am NY time, but breakout and possible trends could go on until the next day (Which we're waiting for..)
- #119
- Sep 2, 2008 7:15pm Sep 2, 2008 7:15pm
- | Commercial User | Joined Mar 2008 | 9,073 Posts
Wow! Check the EURJPY is already dancing over 158.22 ... hope u can login to platform from work and take the profit :
I'd love the system as it is not TA based like mine!!
Sonic
Hi David,
Let me please tell you what I thing regarding the Daily Range, if the range is more that 50 - 60 pips, I set the orders but I only look for the first TP (15 pips) after that I close 1/2 position, move the SL to breakeven for a free trade just in case. It' only an idea.
Bull
Some thoughts regarding breakouts. Lets say I enter a trade as dictated by this strategy, and an hour or 2 later the trade has barely moved. Perhaps rabging across 20 or so pips in total.
At what point does it become a false breakout? My limited experience suggests to me that staying largely static over a few hours on the 15 minute chart will often be followed by some dramatic movement. However since this strategy does not predict that movement, staying in the trade after this sort of time seems more like gambling without the aid of additional info. Alternativly, I could be talking out of my backside. If I am, please feel free to tell me. Tell me why at the same time if you like