Time frame and Enter/Exit, Time frame and S/L, T/P relationships. | Forex Factory

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Attachments: Time frame and Enter/Exit, Time frame and S/L, T/P relationships.
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Time frame and Enter/Exit, Time frame and S/L, T/P relationships.

  • #1
  • First Post: Edited 3:10am Apr 12, 2009 2:53am | Edited 3:10am
Hello, i am newbie to forex till now half year....

whats the relationships Time frame with Enter/Exit?
whats the relationships Time frame with S/L and T/P?


i want to ask even more about the time frame and enter/exit ,S/L, T/P relationships.... i am trade on 1H, go to 4H and daily chart mark those important trendline and S+R levels. those trendlines and S+R on 4H, Daily chart are more important than on 1H. then, when setting stop loss all the 1H, 4H and daily chart can show some different stop loss levels, and the same thing 1H, 4H, Daily char can show some different taking profit,... i am always hesitating those informations, i like to use 1H because i have full time to trade.....

so, my question is:

1. under the TF=1H trading strategy, which time frame(1H, 4H, daily) would be better for setting S/L?

2. under the TF=1H trading strategy, which time frame(1H, 4H, daily) would be better for setting T/P?

3. under the TF=1H trading strategy, which time frame(1H, 4H, daily) better exit(out) a trade?

Thanks.
  • #2
  • Apr 12, 2009 4:58am Apr 12, 2009 4:58am
The SL&TP setings depends on what pair are you using more then the TFs!!!
And no matter what TFs are you using, 1 min is best entry point, and regarding the TP,
using a fixed TP is a suicide....try to use a jumping TP, or some advanced trail!
forexflash
  • #3
  • Apr 12, 2009 6:53am Apr 12, 2009 6:53am
Thanks Sultan..., but the answer seems is not totally ideal... any others answers?....thanks all.
  • #4
  • Apr 12, 2009 5:11pm Apr 12, 2009 5:11pm
one sets tp and sl to the TIMEFRAME they are working in --- set it to some other timeframe and you are no longer working in the timeframe you started with.

the longer the timeframe,, the larger must be the sl, simply because the longer timeframe encompasses ALL THE OTHER TIMEFRAME MOVES and is therefore susceptible to what they do.many are the theories about sl's but using major support and resistance FOR THE TIMEFRAME INVOLVED should keep you clean and green.

mp
  • #5
  • Apr 12, 2009 6:20pm Apr 12, 2009 6:20pm
Quoting mparker
one sets tp and sl to the TIMEFRAME they are working in --- set it to some other timeframe and you are no longer working in the timeframe you started with.

the longer the timeframe,, the larger must be the sl, simply because the longer timeframe encompasses ALL THE OTHER TIMEFRAME MOVES and is therefore susceptible to what they do.many are the theories about sl's but using major support and resistance FOR THE TIMEFRAME INVOLVED should keep you clean and green.

mp
Okay I think, you should stop thinking of the TF in this manner, although your right kinda but at the same time not kinda.

Regardless of the TF you are still trading the same Pair, which TF you choose to view it on is a different matter.

Therefore your SL should be based on what ever you can see / your system is telling you, much the same with the TP.

S/R doesn't work well on Forex currently, it's more of a pick a direction and plow on kinda market, although there are days when S/R works but then it's really just wandering around without any reason S/R wise.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #6
  • Apr 12, 2009 6:28pm Apr 12, 2009 6:28pm
the REASON for using TIMEFRAME is simple --- each timeframe has its own RANGE of movement PER TRADE, less with the lower and MORE with the higher

THAT is the reason why timeframe is important !

geepers, i just read the rest --- SUPPORT AND RESISTANCE IS NOT IMPORTANT ?

lets not bother to talk again --- youre WAY off the mark !

youve got 5 validations --- WHOM did you bribe ?

mp




Quoting Turveyd
Okay I think,...
  • #7
  • Apr 12, 2009 6:45pm Apr 12, 2009 6:45pm
Quoting mparker
the REASON for using TIMEFRAME is simple --- each timeframe has its own RANGE of movement PER TRADE, less with the lower and MORE with the higher

THAT is the reason why timeframe is important !

geepers, i just read the rest --- SUPPORT AND RESISTANCE IS NOT IMPORTANT ?

lets not bother to talk again --- youre WAY off the mark !

youve got 5 validations --- WHOM did you bribe ?

mp
Interestingly I just got the 5th likely from that post

Ever consider your basis for believing all of what you believe is actually in error ?? well ??

Yes, it'll move more BUT if you can pick your entry well, you could risk 30pips to make 200pips then risking 30 becomes worth it.

The market is TRENDING 4 days outta 5, I'm not bothering to draw S/R lines currently there too costly.


You've got a lot to learn rookie, but your not going to anything that doesn't fit into what you believe will get ignored!!!

98% of people LOSE there all using S/R think on it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #8
  • Apr 12, 2009 7:15pm Apr 12, 2009 7:15pm
with 8 years of running an upstate NY finacial holding company, and pulling in (on my own) a minimum of 350 pips, often going to 1000 and using s+r completely, Im FAR FROM A ROOKIE !

so if im in error, i guess my clients and account size is one big error also, huh ?

I enter anywhere i feel, or happen to notice the price moving one way or another, and since im a TRADER, the word RISK does not enter into my vocabulary --- i take a trade, it hits its known tp, and i have 20 other trades working and waiting to hit theirs also !

now new ideas --- i am old enough and smart enough to understand that with whatever i already know, theres always something else, but ive been through all the trash, and have no problems avoiding it on the third go round !

as far as the market trending for 4 out of 5 days, you DO realize that in one 24 hour day, the market REVERSES TREND for close to half that day or have you missed that little situation ?

If youre trading long for 24 hours, half the day youre in drawdown, while half the day im moving WITH the present trend.

as i stated, talk seriously and with intelligence and we have something to say ---- otherwise its just trash talk !

enjoy and trade well

mp




Quoting Turveyd
Interestingly I just got the 5th likely from that post

Ever consider your basis for believing all of what you believe is actually in error ??...
  • #9
  • Apr 12, 2009 7:27pm Apr 12, 2009 7:27pm
Whooppss's realised it wasn't your thread!!!

Still disagree though the SL and TP just be derived from the chart and from your trade at the time, not fixed in stone, you've got to remain dynamic.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #10
  • Apr 12, 2009 7:31pm Apr 12, 2009 7:31pm
sorry my friend, not only is it VERY true, but i teach on TWO THREADS here in the rookie section --- look for my initials and talk to the newbs pulling in a few hundred pips a day, where 2 weeks ago they were losing !

there are a few of us around, scattered over many sites, and were making TRADERS out of losers and proud of it !

as far as more pips, no one has challenged me yet to a race, so i may just have the best machine out there !

btw, you may be lucky for me --- ive closed 11 trades since we started disagreeing

and whats a 98 er ?

mp




Quoting Turveyd
If any of the above was true, then surely you'd be making more pips than anyone else on this Forum and wouldn't want the answer to this question.

Nice contradiction by the way LOL

Enjoy your stay as a 98% er!!
  • #11
  • Apr 12, 2009 7:38pm Apr 12, 2009 7:38pm
Notice my edit, as I didn't realise it wasn't your thread and wasn't you asking therefore your not the rookie, bla bla bla.

98% lose tis a big club, 1 I've recently lost my membership for FINALLY
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #12
  • Apr 12, 2009 7:51pm Apr 12, 2009 7:51pm
still not understanding ---

mp


Quoting Turveyd
Notice my edit, as I didn't realise it wasn't your thread and wasn't you asking therefore your not the rookie, bla bla bla.

98% lose tis a big club, 1 I've recently lost my membership for FINALLY
  • #13
  • Apr 12, 2009 9:29pm Apr 12, 2009 9:29pm
15 trades ---- lets continue talking cause its working fine

EDIT -- 17 trades 21 still open now

how you doing ??


mp
  • #14
  • Apr 13, 2009 9:00am Apr 13, 2009 9:00am
Quoting mparker
15 trades ---- lets continue talking cause its working fine

EDIT -- 17 trades 21 still open now

how you doing ??


mp

You've got 21 trades open ???

No trades as yet, Sun is out and it's a holiday in the UK!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #15
  • Apr 13, 2009 9:06am Apr 13, 2009 9:06am
Quoting Turveyd
You've got 21the UK!!

Ive just had a late dinner sat in the yard, love the sun.

Living the adventure in my head.
  • #16
  • Apr 13, 2009 9:15am Apr 13, 2009 9:15am
sorry -- missed that last post but all the longs and many shorts closed overnite and presently 26 open and 12 closed

the markets moving so enjoy until we get to noon edst

enjoy and trade well

mp



Quoting Turveyd
You've got 21 trades open ???

No trades as yet, Sun is out and it's a holiday in the UK!!
  • #17
  • Apr 13, 2009 4:23pm Apr 13, 2009 4:23pm
Go on then, how many round trip trades did you make ??

Okay today was quite a easy Upward Trend day to call I really shoulda traded it but still how many pips / $'s did you make ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #18
  • Apr 13, 2009 6:00pm Apr 13, 2009 6:00pm
a FAST look appears to be north of 360 pips today --- it was kinda boring and i took longer trades than normal, simply to take care of other business, so there are fewer trades and less pippage because of that. the money is of no account, but i only trade full lots and up !

mp

Quoting Turveyd
Go on then, how many round trip trades did you make ??

Okay today was quite a easy Upward Trend day to call I really shoulda traded it but still how many pips / $'s did you make ??
  • #19
  • Apr 13, 2009 8:42pm Apr 13, 2009 8:42pm
Quoting mparker
a FAST look appears to be north of 360 pips today --- it was kinda boring and i took longer trades than normal, simply to take care of other business, so there are fewer trades and less pippage because of that. the money is of no account, but i only trade full lots and up !

mp

>$10 per pip then, so >$3600 today doing other things, NICE if so!!

Sorry, but without seeing your statement this be hearsay.

Was up 40pips, currently -3pips, just playing around though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #20
  • Apr 13, 2009 9:06pm Apr 13, 2009 9:06pm
fully understand guy -- got a couple threads going in the rookie section where i teach how the market works, and a bunch of people have traded with me on yahoo.

the reason the thread is so huge is because they know what i do and have seen it !

im from the stock world back about 8 years ago --- things changed and i changed with it.

took one look at forex and fell in love with its trending, so been with forex ever since !

i teach to give back whats been so kindly given me --- others knowing how to trade doesnt take away from me, so its "pay back" for a nice life !

enjoy and trade well

mp


Quoting Turveyd
>$10 per pip then, so >$3600 today doing other things, NICE if so!!

Sorry, but without seeing your statement this be hearsay.

Was up 40pips, currently -3pips, just playing around though.
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