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  • #11,861
  • May 29, 2009 6:36am May 29, 2009 6:36am
I hope you guys are paying attention to the level I mentioned on the audusd...

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  • #11,862
  • May 29, 2009 6:40am May 29, 2009 6:40am
Quoting Shermenator
I hope you guys are paying attention to the level I mentioned on the audusd...

Attachment

Attachment
I'm short on this one . I talked about it first LOL . Good luck to both of us!
  • #11,863
  • May 29, 2009 6:53am May 29, 2009 6:53am
Quoting RedCabbage
Daily level?
14141 certainly giving a reaction although generally few levels are likely to hold today.
  • #11,864
  • May 29, 2009 9:37am May 29, 2009 9:37am
Took some pips off AUD EUR and GBP so I'm happy with the day considering it is Friday.

I'm off to enjoy the sunshine.
  • #11,865
  • May 29, 2009 9:41am May 29, 2009 9:41am
Hi ,

I appreciate if someone help me about this :

I need an EA to taril my stop step by step .
For example I want to trail 50 pips by 50 pips
When I have reached 50 pips profit I want to go breakeven and
Then if the market gives me another 50 pips It moves my stop to 50 pips more and so on .

I dont want the traditional trailig stop that Meta trader has it .
Because as soon as it reaches the favorite amount it starts trailing one pip by one pip . That is the problem .

Thanks .
  • #11,866
  • May 29, 2009 10:39am May 29, 2009 10:39am
Notice in the original post, 40 pips stop loss is used.

Some other people use atr or so

I am trying to figure out the best way because I tend to put a tight stop loss which make lots of good trade be stoped out

Can any people please suggest the way you use?

Thanks a lot for your kind advice
  • #11,867
  • May 29, 2009 11:40am May 29, 2009 11:40am
Quoting yf6288
I am trying to figure out the best way because I tend to put a tight stop loss which make lots of good trade be stoped out
This thread is all about the use of support and resistance. Why not use that fact in setting your stops too? For example, if you sell at a level of S/R, look where the next higher level of resistance is on the same time frame that you use to establish your trade. Clearly, if price moves beyond that higher level, your original setup can be considered invalid. But also remember, if that level is a considerable distance away, to stay within your money management and adjust the lot size. Or, look to a smaller time frame for other S/R levels to use.

SR
  • #11,868
  • May 29, 2009 12:29pm May 29, 2009 12:29pm
BRV was right about probability of winning trades using his method. Last 3 weeks my hit rate was 90% and last 2 weeks had 44 trades. 3 lost, 41 won. Still works on staying in trades longer. Goal is to pick at least 10 pips. Today decided not to trade as BRV mentioned Fridays especially last Friday of the month and last trading day is a dangerous to trade. Actually, my worst days always were Fridays. Go figure. BRV must know what he is talking about. I am never tired to say: "What a great thread and thank you BRV".
  • #11,869
  • May 29, 2009 10:35pm May 29, 2009 10:35pm
Hey all,

Just wondering how many of you guys use candlestick charts and how many use the classic bar chart. I've always preferred candlestick charts because that was the default on my first FX platform. At first, it was easier to visual price and I started trading using candle patterns to enter trades. Lately, I have been exclusively trading BRV strategy and using bar charts. It seems that candles distort the important levels because of the fat body of the candles and the wicks. The levels seem easier to pick out when the chart is free of "clutter" and cleaner. Would appreciate everyone's thoughts. thanks

Ross
  • #11,870
  • May 30, 2009 4:20am May 30, 2009 4:20am
Quoting Dracula
Hi ,

I appreciate if someone help me about this :

I need an EA to taril my stop step by step .
For example I want to trail 50 pips by 50 pips
When I have reached 50 pips profit I want to go breakeven and
Then if the market gives me another 50 pips It moves my stop to 50 pips more and so on .

I dont want the traditional trailig stop that Meta trader has it .
Because as soon as it reaches the favorite amount it starts trailing one pip by one pip . That is the problem .

Thanks .

Trading platform of FXCM meet your request .
  • #11,871
  • May 30, 2009 9:50am May 30, 2009 9:50am
Quoting onmyself
Trading platform of FXCM meet your request .
The FX Solutions Platform, GTS Pro, trails stops in the way you described.

Ross
  • #11,872
  • May 30, 2009 11:06am May 30, 2009 11:06am
+1, I'd also like to hear some input on this...

Quoting rossbennett
Hey all,

Just wondering how many of you guys use candlestick charts and how many use the classic bar chart. I've always preferred candlestick charts because that was the default on my first FX platform. At first, it was easier to visual price and I started trading using candle patterns to enter trades. Lately, I have been exclusively trading BRV strategy and using bar charts. It seems that candles distort the important levels because of the fat body of the candles and the wicks. The levels seem easier to pick out when the chart is free of "clutter"...
  • #11,873
  • May 30, 2009 6:26pm May 30, 2009 6:26pm
Quoting rossbennett
Hey all,

Just wondering how many of you guys use candlestick charts and how many use the classic bar chart. I've always preferred candlestick charts because that was the default on my first FX platform. At first, it was easier to visual price and I started trading using candle patterns to enter trades. Lately, I have been exclusively trading BRV strategy and using bar charts. It seems that candles distort the important levels because of the fat body of the candles and the wicks. The levels seem easier to pick out when the chart is free of "clutter"...
I prefer candles as they are easier to read for me. The show the same information either way.
  • #11,874
  • May 31, 2009 10:45am May 31, 2009 10:45am
Quoting jack.canadia
I prefer candles as they are easier to read for me. The show the same information either way.
Good point that the candles and bars both display the same information, and I agree that it is easier to visualize/read the price of the current period. One of the arguments against candles is that they put too much emphasis on the price action of the current period and the thin wicks and fat candle bodies tend to draw one's attention to just the open and close price. When I look at a candlestick chart, it's hard for me to not look for candle patterns and the bodies of the candles. I find that bars "paint" a better picture of market structure and make it easier for me to identify support and resistance. In the end they both show the same four points, open-high-low-close, and it is really just a personal preference thing, but I'm curious on others thoughts because most of the charts I see posted are bar charts. When BRV posts charts it's always a bar chart with the same color for uptick bars as downtick bars (another interesting preference, I've noticed that other proffesional's charts are look at are like that too).

Ross
  • #11,875
  • May 31, 2009 6:42pm May 31, 2009 6:42pm
Morning folks,

  • #11,876
  • May 31, 2009 7:14pm May 31, 2009 7:14pm
Hi,

Lots of gloom and doom talk about the dollar. I hardly understand any of the reasons behind the blah blah coming from the news wires,but if we have any build up around the 9380 area and a hard break I'm short, orders are in.
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  • #11,877
  • Jun 1, 2009 2:00am Jun 1, 2009 2:00am
Hi,

Just closed my usd/cad trade expecting some reaction 10820 area. Might be a bit early but I'll wait and see how things react in a few.
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  • #11,878
  • Jun 1, 2009 2:23am Jun 1, 2009 2:23am
Buy AUDUSD @ 0.8047, sl. at 0.8004, closed at 0.8082 for 35 pips
Buy GBPUSD @ 1.6205, sl. at 1.6150, closed at 1.6282 for 77 pips
Buy GBPJPY @ 154.25, sl. at 153.65, closed at 154.82 for 57 pips

170 pips in 1 hour
  • #11,879
  • Jun 1, 2009 3:37am Jun 1, 2009 3:37am
Have a look at 10742 on a daily chart.
  • #11,880
  • Jun 1, 2009 3:49am Jun 1, 2009 3:49am
Quoting RedCabbage
Have a look at 10742 on a daily chart.

Hi,

Yep got it. I'm flat at the moment though

Also looking for something to give on eur/gbp 8650.
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