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- #6,422
- Feb 20, 2009 6:44am Feb 20, 2009 6:44am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Hi;
Will Someone Help Me On This Please ? I Posted It Yesterday !
Regards,
Sorry that your question didn’t get answered.
I’m on a coffee break so let me try to do it.
First of all never take a trade you aren’t confident with, you will chicken out the trade even with loss and later you’ll may be see that it was a winner.
If the pivot points are very narrow means that the PA the day before was relative flat, they are calculated on the daily high/low.
If you are trading a strong trend, scale the chart out and search for historical high/lows and set a HL to those levels.
Here an example, a HL where I TP some minutes ago, it was also 38.2 Fib.
That doesn’t mean that the price can’t go up anymore but I would re-enter if the PA break and retest the DP.
In strong trends it is more likely that minor pivots (mid and quarter) get broken easily.
Back to trade, happy green pips for you
BTW: I'm sure that doblece may give a good tip as well, wait till she is available.
- #6,423
- Edited 7:31am Feb 20, 2009 7:12am | Edited 7:31am
- Joined May 2006 | Status: Still here. | 2,602 Posts
Hi;
I Have A Problem Entering Positions After Trix And Coral Entry Sign Because Of Pivot Lines !! Today The Distance Between Them Was From 15 To 25 (Mostly) Pips And Anytime I Wanted To Go Long , About 10 Pips Above , There Was A Resistance. What Should I Do In Such Circumstances ?? It's Really Bothering Me !!
P.S. Isn't There AnyOne Who Do Me A Favor And Answer My Last Post About Alerts ?! Please !!
Regards,
Trade expectance in pips is equivalent (roughly) to 1,5*ATR(20) of the given timeframe (that would be half the value of the THV3_ATR_Pips indicator, to give you an idea).
If you are trading off M5/M1, you can gauge the potential of continuation based on the higher timeframe, and let the trade "breathe" through coming and going inside its range (as an example, price usually goes forth 10 pips, comes back 8, then goes again 7, then 5, and back 6, forward 9, and so on...). If you are scalping, you should take what the market gives you, you can't expect much more than 10-15 pips (and maybe less depending on the volatility) in such a small timeframe. However, your management of stops (trailing, or using a stop at BreakEven when appropriate) can allow you to go further should the trade evolve into a greater range.
If you are trading off a higher timeframe, you can expect much longer runs, however, you'll also have to stand through small pullbacks, price going back and forth, because that's the way it moves, three steps forward and two steps back, it takes some patience and to be able to gauge the scope or potential of a trade using multiple timeframes, supports and resistances, trendlines, being aware of the time of the day (for example this morning where there was a lot of Euro news) and in general observing Price Action closely to understand its behaviour.
If you can post charts of the entries that you mention, it would be great to help you analyze them in detail.
Finally, whenever you start feeling emotional about your trading, it is better to step back and remain on the sidelines, relax and observe the market, or do whatever else can bring you peace of mind, and come back refreshed. You will have a better focus afterwards.
- #6,424
- Feb 20, 2009 7:49am Feb 20, 2009 7:49am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #6,425
- Feb 20, 2009 8:05am Feb 20, 2009 8:05am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #6,427
- Feb 20, 2009 8:10am Feb 20, 2009 8:10am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #6,428
- Feb 20, 2009 8:14am Feb 20, 2009 8:14am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #6,431
- Feb 20, 2009 8:20am Feb 20, 2009 8:20am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #6,433
- Feb 20, 2009 8:25am Feb 20, 2009 8:25am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
for the quick replies and suggestions - 
I love this team
I love this team
Pip what you see; See what you pip!
- #6,435
- Feb 20, 2009 9:19am Feb 20, 2009 9:19am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
So, I was wondering, is anybody trading divergence off of the 1 hour (or higher) TF or is everybody making so many pips on the shorter TF that no one has explored that as yet?
Btw, I'm out today. I know it is too early to out while bulls are everywhere running on the street. But I have more than enough today with last Aussie short and EU short. Watch your pips carefully guys, handle with care.
Have a nice vacation
Manage your risk accordingly and you're half done your home work.
- #6,439
- Feb 20, 2009 9:47am Feb 20, 2009 9:47am
- Joined Oct 2005 | Status: Trade the MAX System with me... | 1,995 Posts
