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Inside Bar Trading

  • #961
  • Dec 17, 2008 11:17am Dec 17, 2008 11:17am
Quoting FOURX
why not take a smaller position Lyn?
I have thought about that, but there seem to be plenty of smaller ones at the moment that it doesn't bother me if I miss a few because of it.
  • #962
  • Dec 17, 2008 11:18am Dec 17, 2008 11:18am
Quoting lynnette
On my chart its below.
sorry your both right, its been one of those days
  • #963
  • Dec 17, 2008 11:19am Dec 17, 2008 11:19am
Thanks for spot. I noticed, too, there is one hour Pin Bar as well.
Might make this interesting after boys come back from lunch in New York.
Cliff

Quoting 1ka
IB on GBPUSD. It's a 100 pip SL, so too large for me to do correctly.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr_PB.gif Size: 28 KB
I get exercise just pushing my luck
  • #964
  • Dec 17, 2008 11:20am Dec 17, 2008 11:20am
Quoting lynnette
I have thought about that, but there seem to be plenty of smaller ones at the moment that it doesn't bother me if I miss a few because of it.
  • #965
  • Dec 17, 2008 11:26am Dec 17, 2008 11:26am
Quoting croesesFX
IB on gbp/usd pending sell @ 5398

also usd/chf sell @ 1.0815
cancelled gbp/usd
closed usd/chf for +18, thats my lot for today
  • #966
  • Dec 17, 2008 11:31am Dec 17, 2008 11:31am
Quoting croesesFX
cancelled gbp/usd
closed usd/chf for +18, thats my lot for today
Hi cfx,

where was your stop on the U/c trade please?
  • #967
  • Dec 17, 2008 11:34am Dec 17, 2008 11:34am
Quoting FOURX
Hi cfx,

where was your stop on the U/c trade please?
the high of the previous bar to the IB bar plus spread, 1.0892 + 3pips
  • #968
  • Dec 17, 2008 11:38am Dec 17, 2008 11:38am
Quoting croesesFX
the high of the previous bar to the IB bar plus spread, 1.0892 + 3pips
Yes 1.0892 i thought so.

Is'nt it insane to be only taking 20pips or so , with stops so wide, or have i missed something.

thanks
  • #969
  • Dec 17, 2008 11:41am Dec 17, 2008 11:41am
Quoting FOURX
Yes 1.0892 i thought so.

Is'nt it insane to be only taking 20pips or so , with stops so wide, or have i missed something.

thanks
to be honest at this time of day after the FTSE closes I dont trade but I saw this trade and just wanted 15/20 pips
  • #970
  • Dec 17, 2008 11:58am Dec 17, 2008 11:58am
Has anybody any advice regarding risk/reward, using this method?

thanks
  • #971
  • Dec 17, 2008 12:16pm Dec 17, 2008 12:16pm
Quoting FOURX
Has anybody any advice regarding risk/reward, using this method?

thanks
Someone else asked that question and I believe (without looking back over the thread) that Jim said we don't go by the normal risk/reward criteria because such a high percentage of them work if taken right, but we do need to give them room to work.
  • #972
  • Dec 17, 2008 12:23pm Dec 17, 2008 12:23pm
I should add that I never risk more than 2% on any one trade, if that means smaller IB's then so be it. Thats all I'm willing to risk.
  • #973
  • Dec 17, 2008 12:25pm Dec 17, 2008 12:25pm
got ye Lyn !

thanks
  • #974
  • Dec 17, 2008 12:32pm Dec 17, 2008 12:32pm
Quoting FOURX
got ye Lyn !

thanks
does anyone trade the U.S. session?
  • #975
  • Dec 17, 2008 12:33pm Dec 17, 2008 12:33pm
i bad memory remembers reading in this thread that they don't like the U.S. session
  • #976
  • Dec 17, 2008 1:32pm Dec 17, 2008 1:32pm
Quoting dread
does anyone trade the U.S. session?
My impression is that the US afternoon sessions are fairly slow with low volumes. It certainly is today.
  • #977
  • Dec 17, 2008 2:30pm Dec 17, 2008 2:30pm
thanks...
its certainly looks slow....
i'll stick to a couple hours after eur open as Jim suggested....
  • #978
  • Dec 17, 2008 2:57pm Dec 17, 2008 2:57pm
Quoting dread
thanks...
its certainly looks slow....
i'll stick to a couple hours after eur open as Jim suggested....
He has said not to trade the open or close of a session. Does that mean 1 or 2 hours before and after? Also, does anyone know if the asian session is better or worse than the American?
  • #979
  • Dec 17, 2008 3:17pm Dec 17, 2008 3:17pm
Quoting mackus
He has said not to trade the open or close of a session. Does that mean 1 or 2 hours before and after? Also, does anyone know if the asian session is better or worse than the American?
Usa. session is better especially the first 4 hours but be careful with the news announcements. Paris
  • #980
  • Edited 4:25pm Dec 17, 2008 4:09pm | Edited 4:25pm
Quoting mackus
He has said not to trade the open or close of a session. Does that mean 1 or 2 hours before and after?...
I would suggest that if an IB forms 30 minutes before the session opens, then you may want to wait until 30 minutes after the session has begun before placing a trade. Why? Well, as far as I understand it, when a session opens there could be a lot of activity that causes small spikes and one of these could hit your SL. Worse, perhaps, is that it could trigger a pending trade and then the trend goes the other way.
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