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  • #64,561
  • Feb 12, 2009 11:02am Feb 12, 2009 11:02am
it is what is trade.........
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  • #64,562
  • Feb 12, 2009 11:04am Feb 12, 2009 11:04am
Quoting Darkseal
But what kind of stop do you use? How much room do you give to let the position breath?
...wouldn't that be dependent on several things, volatility, volume, PA & appetite for loss, confidence on direction...? lotsa dynamics right there, for me each call is different, sometimes it's as little as 15 pips, if it's wild & whippy - maybe 50 pips, but have also run 100 pips on a long trade, the main thing is to stick to the original stop.

after i lost a good few trades keepin' it too tight, and then losing money leaving it too loose, i spent more time concentrating on my R & R and now use that formula as a starting point, then consider the market mood.

but i am fairly new to this, so there may be more helpful views available from the guys,

may the pips be with you
  • #64,563
  • Feb 12, 2009 11:04am Feb 12, 2009 11:04am
Quoting vulture
1.2840 is a level to watch.. it looks like a retest
nice decending wedge but you also have to take into acount its almost sitting on the bottom of a long term trend that could make it irevelant..
those who can, do. those who cant, talk about those who can
  • #64,564
  • Feb 12, 2009 11:10am Feb 12, 2009 11:10am
Quoting TheWalrus
That's the question of the year. It really depends on how much I leverage. I generally do 30:1, 50:1, or 100:1. If I'm using less leverage, I'll allow for more movement.
Don't confuse the rookie.
It's absolutelly the opposite. The entry and the stop levels are derived directly and only from the market. They are pure TA and have nothing to do with leverage. The leverage you use is based only on the already derived technically entry and stop, and on your risk exposure (in % of the cap. for each separate deal).
So leverage comes from what market offers at the moment. In other words, 10:1 should always be as risky as 100:1.
Berbo count: 12 We'll Keep the Red Flags Flying High
  • #64,565
  • Feb 12, 2009 11:13am Feb 12, 2009 11:13am
Quoting ManUtd
Don't confuse the rookie.
It's absolutelly the opposite. The entry and the stop levels are derived directly and only from the market. They are pure TA and have nothing to do with leverage. The leverage you use is based only on the already derived technically entry and stop, and on your risk exposure (in % of the cap. for each separate deal).
So leverage comes from what market offers at the moment. In other words, 10:1 should always be as risky as 100:1.
maybe and maybe not. My interpretation of his answer is depending on which leverage he uses, is depending on how much stop loss to reward he is willing to risk. His account margin may have a say on that.
  • #64,566
  • Feb 12, 2009 11:14am Feb 12, 2009 11:14am
Quoting gatorinla
might be a inverted head and shoder on the 30m
and the 15 and building on the 1hr.
Let Freedom Ring!
  • #64,567
  • Feb 12, 2009 11:15am Feb 12, 2009 11:15am
Quoting TheWalrus
To be honest, I use the one minute chart almost exclusively. I just figure out the general trends using the 15min, 30min, and 1hr charts. I don't bet against trends too often...
Walrus, what do you use to define the trends to trade 1min chart?

thank you in advance
  • #64,568
  • Feb 12, 2009 11:18am Feb 12, 2009 11:18am
Quoting lindee
and the 15 and building on the 1hr.
so do that mean we go up now?
Let Freedom Ring!
  • #64,569
  • Feb 12, 2009 11:21am Feb 12, 2009 11:21am
Quoting ManUtd
Don't confuse the rookie.
It's absolutelly the opposite. The entry and the stop levels are derived directly and only from the market. They are pure TA and have nothing to do with leverage. The leverage you use is based only on the already derived technically entry and stop, and on your risk exposure (in % of the cap. for each separate deal).
So leverage comes from what market offers at the moment. In other words, 10:1 should always be as risky as 100:1.
Everyone trades differently. I don't use stop and entry points and pivot tables. I use daily trends, expectations, human behavior, and elasticity. So for me, certain trades are "more guaranteed" than others, or I feel better about certain trades, so I'll use more leverage. But I won't let a 100:1 trade move as much as a 30:1 trade. That's just my tolerance. Whether or not it's proper or correct is in the eye of the beholder. So far, it's worked quite well for me.
  • #64,570
  • Feb 12, 2009 11:22am Feb 12, 2009 11:22am
Thanks Guys.

ps: I've been using fxcm ts II........ it has no 4 hr chart.
You think I should be using mt4?
I pref the feel of fxcm but know the majority here are doing 4hr for signals.
  • #64,571
  • Feb 12, 2009 11:24am Feb 12, 2009 11:24am
Quoting valery
Walrus, what do you use to define the trends to trade 1min chart?

thank you in advance
I trade on strict price action so the only thing I pay mind to is the daily trend and market expectations. I look for elasticity. So if I see something jump up very quickly and suddenly when the trend is downwards, I'll short it expecting a retreat or a bounce back. I bet along with the trend though.
  • #64,572
  • Feb 12, 2009 11:25am Feb 12, 2009 11:25am
Quoting gregam1128
maybe and maybe not. My interpretation of his answer ....
I think there is nothing to discus on this. He said:
If I'm using less leverage, I'll allow for more movement.
I say:
If the market allows closer stop, I'll use more leverage.
Berbo count: 12 We'll Keep the Red Flags Flying High
  • #64,573
  • Feb 12, 2009 11:25am Feb 12, 2009 11:25am
Quoting Darkseal
Thanks Guys.

ps: I've been using fxcm ts II........ it has no 4 hr chart.
You think I should be using mt4?
I pref the feel of fxcm but know the majority here are doing 4hr for signals.
use what you feel comfortable with if you choose add another monitor with mt4 and a demo acct for reference
  • #64,574
  • Feb 12, 2009 11:28am Feb 12, 2009 11:28am
Quoting Darkseal
Thanks Guys.

ps: I've been using fxcm ts II........ it has no 4 hr chart.
You think I should be using mt4?
I pref the feel of fxcm but know the majority here are doing 4hr for signals.
I use 4hr also, but for scalping on a daily basis. Helps me to determine entry points using price action, a little volume spread analysis, and support and resistance lines, so I can get better entries for the monthly trend.
  • #64,575
  • Feb 12, 2009 11:29am Feb 12, 2009 11:29am
Quoting lindee
and the 15 and building on the 1hr.
dont know.. im long.. because hs but i have other reason also.. just waiting to see if im right..theres gonns be a bear bull free far all soon
those who can, do. those who cant, talk about those who can
  • #64,576
  • Feb 12, 2009 11:30am Feb 12, 2009 11:30am
Quoting TheWalrus
I trade on strict price action so the only thing I pay mind to is the daily trend and market expectations. I look for elasticity. So if I see something jump up very quickly and suddenly when the trend is downwards, I'll short it expecting a retreat or a bounce back. I bet along with the trend though.

I trade similar but on 15 min charts. i used 50 Simple MA to define the daily trend. but i think 50 SMA is too slow for my purposes. so i am looking for something more appropriate.
  • #64,577
  • Feb 12, 2009 11:30am Feb 12, 2009 11:30am
Quoting Darkseal
Thanks Guys.

ps: I've been using fxcm ts II........ it has no 4 hr chart.
You think I should be using mt4?
I pref the feel of fxcm but know the majority here are doing 4hr for signals.

Not true. In the window Market scope 2.0 click on 1 min window and by using the keyboard enter "h4" or h2 or whatever...

Cheerz
  • #64,578
  • Feb 12, 2009 11:31am Feb 12, 2009 11:31am
Quoting Darkseal
Thanks Guys.

ps: I've been using fxcm ts II........ it has no 4 hr chart.
You think I should be using mt4?
I pref the feel of fxcm but know the majority here are doing 4hr for signals.
Just write H4 on the Period indicator
  • #64,579
  • Feb 12, 2009 11:31am Feb 12, 2009 11:31am
Quoting gregam1128
maybe and maybe not. My interpretation of his answer is depending on which leverage he uses, is depending on how much stop loss to reward he is willing to risk. His account margin may have a say on that.
Exactly. Not too hard to understand in my opinion, maybe I worded it poorly. I think risk vs. reward plays a factor in any market that's not a guarantee. Unless you are right 100% of the time using your entry and exit points, manutd, relying on fundamentals or strict principles like that is unnecessary and kind of stupid.
  • #64,580
  • Feb 12, 2009 11:32am Feb 12, 2009 11:32am
I see price now protected at 1.2845.
We may see some tail, but only serves to open more shorts!!
I see people here starting talk about longs.
Forget it, the opportunity to go long D55 got it already.

I have some charts that I do not give for free, sorry guys, that tells us where we will go in the next 8 weeks!!

All I can say for now it is.
1.2900 or above are protected this week.
We must not forget about noise, always the noise!!
I can share in private the level that Bulls will control to go to 1.39 or above.
So it is possible to see that level again before we see below 1.2500, but I personally doubt it, but Forex it is the Wonderland, remember last December!!

My type of trading is not suitable for short term traders!!!
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