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Inside Bar Trading

  • #941
  • Dec 17, 2008 7:08am Dec 17, 2008 7:08am
What did I tell that guy yesterday that wanted to shorten stoplosses, don't do it.....PLAN THE TRADE....TRADE THE PLAN!!

jIM

Quoting 1ka
Well, the AUSUSD is still going, but I hit a close TS for zero

(I know it's not the system that Jim has detailed, but it was my first live IB trade and don't I feel foolish now, it's close to +100 pips. )
  • #942
  • Dec 17, 2008 7:09am Dec 17, 2008 7:09am
Getting the hang of it. LOL


Quoting mcphrant
This was a very nice trade going long with the UTL.
  • #943
  • Dec 17, 2008 7:13am Dec 17, 2008 7:13am
Quoting 1ka
Well, the AUSUSD is still going, but I hit a close TS for zero

(I know it's not the system that Jim has detailed, but it was my first live IB trade and don't I feel foolish now, it's close to +100 pips. )
Do not beat yourself up. As H1H1 said, trade the plan. There will be many more trades to look forward to. At least close half your lots when in profit before fiddling with your stop losses. That is what I have learnt.
  • #944
  • Dec 17, 2008 7:20am Dec 17, 2008 7:20am
Look, we know the system works, and we have the people in here that can whittle out the bad choices to keep our losses to a minimum. Soon we will be able to talk to each other and transfer mass files a lot faster. It's going to be the ones that listen to the people who come in here and think they know better, that are going to be part of that 80% that fail at trading. I have banned a few and I don't have any problems banning some more. I will do what I have to do.

Jim
  • #945
  • Dec 17, 2008 7:20am Dec 17, 2008 7:20am
Quoting hard1head1
Getting the hang of it. LOL
With patience and proper money management, this is a great system. It is one of 2 systems that I am trading live exclusively.
  • #946
  • Dec 17, 2008 7:28am Dec 17, 2008 7:28am
Quoting hard1head1
Look, we know the system works, and we have the people in here that can whittle out the bad choices to keep our losses to a minimum. Soon we will be able to talk to each other and transfer mass files a lot faster. It's going to be the ones that listen to the people who come in here and think they know better, that are going to be part of that 80% that fail at trading. I have banned a few and I don't have any problems banning some more. I will do what I have to do.

Jim

Love your style jim!
  • #947
  • Dec 17, 2008 7:33am Dec 17, 2008 7:33am
IB on USDCAD
  • #948
  • Dec 17, 2008 7:35am Dec 17, 2008 7:35am
Quoting 1ka
IB on USDCAD
Hmm, gone Long to, perhaps Daily Pivot. I'll give this a miss.
  • #949
  • Dec 17, 2008 8:23am Dec 17, 2008 8:23am
What are the best hours to be looking for IB's?
  • #950
  • Dec 17, 2008 8:27am Dec 17, 2008 8:27am
Quoting seamonkey
What are the best hours to be looking for IB's?
I don't think I've seen a suggestion for best hours, only a recommendation to "..Stay out of IB's as the sessions open and close ."

Oh, and beware of any major news. I nearly got caught out by the US interest rate change yesterday.
  • #951
  • Dec 17, 2008 8:28am Dec 17, 2008 8:28am
Quoting 1ka
Hmm, gone Long to, perhaps Daily Pivot. I'll give this a miss.
I grabbed a few pips here but it's against med and longer trend so I didn't want to stay in for long. DPP also seems a little far from entry so didn't want to stick around.
  • #952
  • Dec 17, 2008 9:00am Dec 17, 2008 9:00am
IB on GBPUSD. It's a 100 pip SL, so too large for me to do correctly.
  • #953
  • Dec 17, 2008 9:01am Dec 17, 2008 9:01am
IB on gbp/usd pending sell @ 5398

also usd/chf sell @ 1.0815
  • #954
  • Dec 17, 2008 9:07am Dec 17, 2008 9:07am
Quoting croesesFX
IB on gbp/usd pending sell @ 5398
The previous bar is too big for my MM so I won't be taking it, unfortunately, same situation with the one on EUR/USD.
  • #955
  • Dec 17, 2008 9:10am Dec 17, 2008 9:10am
Quoting lynnette
The previous bar is too big for my MM so I won't be taking it, unfortunately, same situation with the one on EUR/USD.
lyn
whats your maximum SL?
  • #956
  • Dec 17, 2008 9:12am Dec 17, 2008 9:12am
Quoting croesesFX
IB on gbp/usd pending sell @ 5398

also usd/chf sell @ 1.0815
89 below, why not long?
  • #957
  • Dec 17, 2008 9:13am Dec 17, 2008 9:13am
Quoting lynnette
The previous bar is too big for my MM so I won't be taking it, unfortunately, same situation with the one on EUR/USD.
why not take a smaller position Lyn?
  • #958
  • Dec 17, 2008 9:13am Dec 17, 2008 9:13am
Quoting FOURX
89 below, why not long?
89SMA is actually above, not below
  • #959
  • Dec 17, 2008 9:15am Dec 17, 2008 9:15am
Quoting croesesFX
lyn
whats your maximum SL?
I only like to have a max of 60 but ideally smaller.
  • #960
  • Dec 17, 2008 9:17am Dec 17, 2008 9:17am
Quoting croesesFX
89SMA is actually above, not below
On my chart its below.
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