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Inside Bar Trading

  • #761
  • Dec 15, 2008 7:18pm Dec 15, 2008 7:18pm
Quoting hard1head1
You do know you have to add the spread for a limit or a long stop order, don't you?
Yes.
  • #762
  • Dec 15, 2008 7:19pm Dec 15, 2008 7:19pm
That is forex 101 stuff. I do believe you need to add the spread to that when setting a buy stop. .6693 + 5 = .6698 is what your buy stop should say, then it will trigger when you hit .6693. Am I right everyone, please comment if I am not.

Jim



Quoting andante9
My stop was set for .6693. 4pips above the high of the trigger. Or do I have it wrong?
  • #763
  • Dec 15, 2008 7:20pm Dec 15, 2008 7:20pm
I havent hit it yet, just telling you what I am aiming for.

Quoting andante9
Nice! That was quick!
  • #764
  • Dec 15, 2008 7:21pm Dec 15, 2008 7:21pm
Quoting hard1head1
That is forex 101 stuff. I do believe you need to add the spread to that when setting a buy stop. .6693 + 5 = .6698 is what your buy stop should say, then it will trigger when you hit .6693. Am I right everyone, please comment if I am not.

Jim
Thanks Jim

I will reconsider this when placing trades. I used the indicator level which does not quite cover the spread. Thanks for pointing that out.
  • #765
  • Dec 15, 2008 7:22pm Dec 15, 2008 7:22pm
Quoting hard1head1
I havent hit it yet, just telling you waht I am aiming for.
LOL

Sorry, I read the last line and interpreted it to mean you were already done!
  • #766
  • Dec 15, 2008 7:28pm Dec 15, 2008 7:28pm
What do you think of GBP/USD IB

Entry 1.5322
TP 1.5380
SL 1.5286

Risk 36
Reward 58
Attached Image (click to enlarge)
Click to Enlarge Name: gu 161208.gif Size: 16 KB
  • #767
  • Dec 15, 2008 7:39pm Dec 15, 2008 7:39pm
Its an old IB, kind of like I am watching with the E/U. I usually discard after 3 bars fail to break the IB. But since there is consolidation, I will wait this one out. Plus the strong uptrend we are in helps.

Like I said before, I can not tell you what to trade, you must do that yourself.

Jim

Quoting pbully
What do you think of GBP/USD IB

Entry 1.5322
TP 1.5380
SL 1.5286

Risk 36
Reward 58
  • #768
  • Dec 15, 2008 7:44pm Dec 15, 2008 7:44pm
US/JPY IB setting up for Sell

But there is a low only 10pips from entry but if it goes to the support at 90.04 is good for 30 pips?

Entry 90.34
TP 90.05
SL 90.61

Risk 27
Reward 29

RR 1-1
Attached Image (click to enlarge)
Click to Enlarge Name: uj 161208.gif Size: 17 KB
  • #769
  • Dec 15, 2008 7:51pm Dec 15, 2008 7:51pm
I guess after last nights little episode everything is looking like it's consolidating at the moment so maybe I'll have to come back at London open.

Then again Maybe I'll just fiddle about with very small lots to get a feel for this method.

Thanks HH.
  • #770
  • Dec 15, 2008 7:54pm Dec 15, 2008 7:54pm
way to go, keep it up

Jim


Quoting pbully
US/JPY IB setting up for Sell

But there is a low only 10pips from entry but if it goes to the support at 90.04 is good for 30 pips?

Entry 90.34
TP 90.05
SL 90.61

Risk 27
Reward 29

RR 1-1
  • #771
  • Edited 8:05pm Dec 15, 2008 7:55pm | Edited 8:05pm
Quoting andante9
Attachment


Ok, did I get this one right?
update: I've managed to take 10 pips on this for 1/2 of position. I have moved stop to BE for remainder.

update: second 1/2 closed at BE
  • #772
  • Dec 15, 2008 7:55pm Dec 15, 2008 7:55pm
I can see some movement starting now.

Jim

Quoting pbully
I guess after last nights little episode everything is looking like it's consolidating at the moment so maybe I'll have to come back at London open.

Then again Maybe I'll just fiddle about with very small lots to get a feel for this method.

Thanks HH.
  • #773
  • Dec 15, 2008 7:57pm Dec 15, 2008 7:57pm
Watch that .6714 level, it may only go to that point.

Jim

Quoting andante9
update: I've managed to take 10 pips on this for 1/2 of position. I have moved stop to BE for remainder.
  • #774
  • Dec 15, 2008 7:58pm Dec 15, 2008 7:58pm
Now thats the way its done here.

Quoting andante9
update: I've managed to take 10 pips on this for 1/2 of position. I have moved stop to BE for remainder.
  • #775
  • Dec 15, 2008 7:59pm Dec 15, 2008 7:59pm
Quoting hard1head1
Watch that .6714 level, it may only go to that point.

Jim
Thanks Jim. Will watch that level for turnaround. My entry was a little early but I got lucky and it paid off.
  • #776
  • Dec 15, 2008 8:00pm Dec 15, 2008 8:00pm
Hi Jim,

I second that.

thanks,

Quoting pbully
Hi HH,

I've been lurking in the shadows for a while and I'm finally starting to learn something form your great tips and insight.

Please don't pull this thread, I can't speak for anyone else but I seriously need this.

Skype and other IM communities are great if you can be there live but I'm in Australia so trading the US session is almost impossible for me due to the timing so my only alternative is to trade the London session - which is very late for me here.

I can read the thread posts during the day and practice the trades.

I need this...
  • #777
  • Dec 15, 2008 8:30pm Dec 15, 2008 8:30pm
Quoting hard1head1
Hey Jarroo, how many names have you got. Whats up?

Keep in mind, My versian of IB is slightly differant with rules modification.

Jim
Just one name hard1. I'm sure you were just kidding.

Enjoying your thread.
Indicators show the past. Price Action "Indicates" the future.
  • #778
  • Dec 15, 2008 8:38pm Dec 15, 2008 8:38pm
Time for my delivery route, see you guys in a couple of hours.

jim
  • #779
  • Dec 15, 2008 11:17pm Dec 15, 2008 11:17pm
News releases coming out from 2:45 thru 5:00 AM, be careful.

Jim
  • #780
  • Dec 15, 2008 11:40pm Dec 15, 2008 11:40pm
Nice IB Short set up on UCad 5.00GMT

Sitting at SR area so if it breaks short could run down to the S1at 1.2236 which is also the previous low.

Ent 1.2300
SL 1.2323
TP 1.2243
Risk 23
Reward 57
RR 2.5/1

PeterB
Attached Image (click to enlarge)
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