Ok , but this one looks good, maybee one dont need it
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We all need pivots to win..yes or not? 13 replies
The System (Irony included) 1,175 replies
Disliked222 pip 5min candel after level break out, stunning.
I had a order on the both side of the level, it payed off for yesterdays loss.
Thats the runner you were telling me the other feb. lol
Thank you Feb.
http://www.forexfactory.com/images/attach/gif.gifIgnored
DislikedHi Feb,
you mentioned on post 1057 that you wait for the candel to close on the breakout levels, if we are placing orders 2-3 ticks how can that be possible, and if we do wait for the candel to close it may be late entery sometimes?
thxIgnored
DislikedFeb,
Thanks to you for all your recent help, you have so far completly changed my view of the market and learning so much from you, I am trading naked and got rid of all my indicators.
Now,
I understand the point about not missing the bus and thats why i put orders on both side of the levels, but what i want to know now, should i be keep doing that or not put the order and wait for the candel to close then manually get into the trade?...Ignored
Disliked1) - if you're going to bracket trading , I strongly suggest a OCO order - I believe you guys have an EA on OCO's or something. OCO - One Cancels the Other. The OCO's will save you from unwanted spikes, especially if the bracket is within a close range.
2) It's a trade off . But many times you'll be able to get on board in time.Ignored
DislikedFeb,
when news has such huge impact on the price howmuch time do you give it to settle the dust so you can trade again under normall market? as you see after the news couple of levels was broken when do you get in? I was debating to go short on the last level break out but i didn't?
and are my levels drawn correctly?
Thank you.
http://www.forexfactory.com/images/attach/gif.gifIgnored
Disliked1) 1/2 Hour - more or less.
If I'm trading on 5 minutes, I sit on my hands 'tll the dust settles.
Your levels are fine.Ignored
DislikedGuys:
I'm really enjoying this thread and want to thank Feb for his valuable contribution. Since reading and studying this strategy I also started to trade "naked" (no indicators or anything on the chart) ...
Some of you (like MJurban) have posted charts with nice lines on the charts. Are you using an EA in metatrader to draw those lines and if so, is it available for download somewhere. Thanks much!
- DMIgnored
DislikedHi Feb,
Thank you for sharing so much with us. I have learnt and am still learning from you. I have noticed that you only use horizontal lines on your charts. What are your views on the use of slant trendlines and based on your experience have you found horizontal trendlines (support and resistance levels) to be more valuable. Thank you.
fxpilotIgnored
DislikedFeb.
I hope you don't mind me going off subject for a while. I am still wrapped on looking at more than one timeframe. Would you expand a little more about your views on timeframes, please?
Thanks.Ignored
BUT
Its' a matter of preference.
If you don't want to be glued at the screen or have a 9-5 job , like to take things slow, don't mind sleep at night knowing that your ass is on the line, then consider a higher time frame. But do yourself a favor, pick one (1) and become a master of it.
If you like your money fast, can't sleep at night knowing you have money at risk, comfortable with quicker action and have all the time in the world for trading, then a lower time frame is for you.
A higher time frame accumulates data more, therefore a move or change of sentiment normally holds more. Stops and targets are wider.
A lower time frame normally has less data, therefore a move or change of hearts holds shorter. Stops and targets are shorter.
You need to decide what's more convenient...for you!
Second guessing is a big responsible on why people aren't consistent on this business. I stay away on everything that goes like "when you see x turning green, y turning red and z blinking, then you trade"
The problem lies on "how many times z needs to blink? or...why if z stops blinking after I trade....the list goes on.
"When the 1 hour, 1/2 hour, 15 minutes and 5 minutes are in agreement, after x, y and z spits a signal, I trade....oh please!
Make your life easy!
"If the market closes above/below this level, then I'll be short/long.
My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"
"If I get stopped/bail out etc, then I'll be looking at the other way (long/short). My stop-loss will be at (x) level , which is the last swing high/low and my level of risk is acceptable. If not, then I will adjust my load . After x amount of pips, I will trail my stop to B/E(plus the landlord's fee) and I will try to shoot for anything greater than my initial risk"
ALL IN ONE CHART.
Hope it helps.