Dislikednice trade chet only thing is it was more than 24 pips with the spreadIgnored
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Dislikednice trade chet only thing is it was more than 24 pips with the spreadIgnored
QuoteDislikedHi
In the eur/usd chart below the 2 bars following the number 3 bar.
Is that ok as long as they dont take out the number 1 bar.
Thanks
QuoteDislikedAlso as we enter on the break of 2 we put are stop above 3
the bar having broke 2 could go back and take out the stop
would we still re enter.
QuoteDislikedHi everyone, I am new in this thread. Was following TEB WSS system but apparently TEB is goin away.
I realised that the method changed alot from the front page.
Now it has become a 1,2,3 method?
Correct me, this is how one select a trade
1. Look at the Daily, IF 5'8 EMA cross upwards, RSI above 50, then we are only looking at long trades at 5 min chart.
QuoteDislikedthx for that doc.
It is very good.
I have one question. Do we scalp the market with this method, or should we hold the trade as long as we can? Coz from what I have observed, there might be a 1,2,3 break but price go back above the 1, and later go down again.
So should we protect our profits when we already make 20 pips?
Give your comments. Thanks
QuoteDislikedThis is a simple, easy to understand system. It does take some time to develop some judgement to be able to recognize the best setups, tho.
One thing I am still not clear on, is why is there some arbitrary number of pips that you should use for the max risk on the pullback?
For instance, why is it acceptable to take a trade if the pullback is say, 20 pips, but not acceptable if the pullback is 25 pips? I know you have to draw the line somewhere, but in terms of risk, you can manage it by using smaller lot size.
Is it because any larger...
Disliked
One thing I am still not clear on, is why is there some arbitrary number of pips that you should use for the max risk on the pullback?
For instance, why is it acceptable to take a trade if the pullback is say, 20 pips, but not acceptable if the pullback is 25 pips? I know you have to draw the line somewhere, but in terms of risk, you can manage it by using smaller lot size.
Ignored
Dislikedok let me verify a few things if daily is say up i go to 5 minute chart and wait for price to trend down at least 30+ pips then look for 123 the reason for the hard stop and target is you have to draw the line somewhere and just as the other fellow said the probability of hitting target is what it is all about. when deciding on that number during normal times a trend on 5 minute chart was about 50 pips so to take just a pip below half seemed acceptable to me to be my max. Now i traded last year at 3% per trade this year 5% the reason 103 wins and...Ignored
DislikedHi Harold,
There is one thing I admire about you... No matter how many times someone comes up with some way to make your strategy "better" you never let them throw you off course. I should know, I have tried too.
They keep looking for a better way...
... and you just keep on making money!
Keep on keepin' on. That's you Harold.
There are very few times when you can have much confidence in which way price will move in forex trading. You have identified one pattern that works.
.
Thanks for explaining (again and again).
Dave...Ignored