leñador
This is the MINIMUM number of pips for your SL. If you see a lot of price action this is can be too tight, so you may have to use the ATR shown * 1,5 or maybe even * 1,75. Look back at earlier price action on the chart you are working on to decide.
Best of luck
- #8,001
- Mar 11, 2009 10:44am Mar 11, 2009 10:44am
- Joined May 2006 | Status: Still here. | 2,602 Posts
- #8,002
- Mar 11, 2009 10:50am Mar 11, 2009 10:50am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,553 Posts
- #8,004
- Mar 11, 2009 11:26am Mar 11, 2009 11:26am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Wow, EJ just dropped 60 pips in about 3 seconds. 
- #8,008
- Mar 11, 2009 11:49am Mar 11, 2009 11:49am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Need an aspirine TW?
- #8,009
- Mar 11, 2009 11:51am Mar 11, 2009 11:51am
- Joined May 2006 | Status: Still here. | 2,602 Posts
There's a way for using multiple TFs in the simulator. Along with the vHandsTrade simulator there comes an indicator called "Period_Converter_Opt". Multiple instances of this indicator can be placed into the main chart to update previously opened offline charts with different periodicity. A full documentation of this you find in "Strategy Testing with Multiple Time Frames" pdf in the vHandsTrade thread (http://www.forexfactory.com/showpost...&postcount=208)
Just be aware of the indicators update interval settings, because...
Thanks so much for pointing it out, I hadn't read the whole thread and didn't know it was possible. Great!
- #8,012
- Mar 11, 2009 12:15pm Mar 11, 2009 12:15pm
Quote:
Originally Posted by macman http://www.forexfactory.com/images/buttons/viewpost.gif
leñador
This is the MINIMUM number of pips for your SL. If you see a lot of price action this is can be too tight, so you may have to use the ATR shown * 1,5 or maybe even * 1,75. Look back at earlier price action on the chart you are working on to decide.
Best of luck
Thanks doblece, I understand what you are saying, but 'quite safe' is a relative term. Here is an example of why I sometimes increase the SL on M1. As you can see you would have been stopped out of a long which would have gone on to be profitable. Agreed, not a wise place to take a long but possible for newbies.
Just pointing this out in case it helps anyone out there.
Originally Posted by macman http://www.forexfactory.com/images/buttons/viewpost.gif
leñador
This is the MINIMUM number of pips for your SL. If you see a lot of price action this is can be too tight, so you may have to use the ATR shown * 1,5 or maybe even * 1,75. Look back at earlier price action on the chart you are working on to decide.
Best of luck
Just a comment: ATR Pips indicator already shows a 3*ATR (20) (it can be set to any multiplier at wish), so the amount shown would be quite safe. However, SL should be set according to the main TF used for trading, not the smaller where the entries are taken (unless you're only scalping M1).
Thanks doblece, I understand what you are saying, but 'quite safe' is a relative term. Here is an example of why I sometimes increase the SL on M1. As you can see you would have been stopped out of a long which would have gone on to be profitable. Agreed, not a wise place to take a long but possible for newbies.
Just pointing this out in case it helps anyone out there.
- #8,016
- Mar 11, 2009 2:21pm Mar 11, 2009 2:21pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Hi folks
Back from the beach, was raining but we had fun playing some poker.
I see you all had your fun today as well and made some nice pips.
Looks like I missed something but FX will be there always.
Back from the beach, was raining but we had fun playing some poker.
I see you all had your fun today as well and made some nice pips.
Looks like I missed something but FX will be there always.
- #8,017
- Mar 11, 2009 2:25pm Mar 11, 2009 2:25pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Hi everybody.
I hope You take this one long with signal on M15 .
I go out with change color fast trix on M5 +34
Good luck
Peter
Did you notice what happened when all points on the MTF Trix and MTF Cloud indicators on your chart have been green and the PA crossed the Coral?
- #8,018
- Mar 11, 2009 2:28pm Mar 11, 2009 2:28pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
There's a way for using multiple TFs in the simulator.
- #8,019
- Mar 11, 2009 2:43pm Mar 11, 2009 2:43pm
Nice trade Peter
Did you notice what happened when all points on the MTF Trix and MTF Cloud indicators on your chart have been green and the PA crossed the Coral?
You mean here PA crossed Coral on 5M ?
I didn't notice that but will.
Thanks