.
Hope the attached picture explains,
- #11,801
- Jul 2, 2009 9:16pm Jul 2, 2009 9:16pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
....trading live manually is always difficult at the same time very profitable if one follows the rules, else one may get confused by the signals.
Hello, guys
I know it's off topic but I feel a bit frightened
English is not my native language so it's quite possible that I will misunderstand something. The problem is that I'm just going to send money to Oanda and I don't know what to do.
If I open one (and only one) position with a standard SL (no orders) - will anything change to me? Suppose I use THV system, eur/usd only, 1M time frame. I go long with 20 pips TP and 10 pips SL. So what? Will it be impossible to place a stop loss?? I mean - at Oanda. Help, please.
I know it's off topic but I feel a bit frightened
English is not my native language so it's quite possible that I will misunderstand something. The problem is that I'm just going to send money to Oanda and I don't know what to do.If I open one (and only one) position with a standard SL (no orders) - will anything change to me? Suppose I use THV system, eur/usd only, 1M time frame. I go long with 20 pips TP and 10 pips SL. So what? Will it be impossible to place a stop loss?? I mean - at Oanda. Help, please.
In addition to my broker account (offshore) formerly I ran a demo account with IBFX on which I trade PA on a naked chart and, because old habits die hard, I have a system with indicators for confirmation running on my broker account. I have now dispensed with the IBFX account and now have an offshore demo.
This AM (US ESD) I tried to enter a buy stop on the IBFX demo account and found that new rules as detailed in the FXCM press release email appear to have been implemented already. IMO the new rules, including the recent prohibition on going...
- #11,809
- Jul 3, 2009 7:55am Jul 3, 2009 7:55am
- Joined Oct 2005 | Status: Trade the MAX System with me... | 1,995 Posts
You sound more and more like me everyday.................
Yes, you miss how to manage indicators, also you miss to read the thread, I can't find anything in your post which wasn't explained already.
Btw: I'd like to see a screenshot if you really want help, and where the h*ll you got the blue arrows from?
- #11,812
- Jul 3, 2009 8:46am Jul 3, 2009 8:46am
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
Adunk, there is no holy Grail (you know that) but THV is a good tool to keep your losers small and let the winners run if you made your homework and know the basics and a little more.
Never forget to look at the bigger picture with the Analysis Candlestick Chart on higher TF's.
well I am new to this method, but so far I am HUGELY impressed. A big, big, big, big, big thankyou to Cobra for sharing this.
We all strive for success in forex trading and I really believe these charts go a long way to increasing our win results.
I have decide, rather than reading through all the endless posts to JUST read the posts of the Cobraguy
Obviously all posts have value, and I can learn from everyone here, but obviously some people have more experience with this method than others.
After I read all of Cobras posts, who in this thread would be the second and third most experienced user of this system.
Again, I would like to express my appreciation for your generosity in sharing this system.
Best wishes
Keith
- #11,815
- Jul 3, 2009 2:01pm Jul 3, 2009 2:01pm
Gosh what a disaster. I broke my trading rules and paid the price. 6 losers 3 winners. Of the six losers only one was a trade that went against me, The other 5 I should not have entered had I followed my rules. The setups were just not there. What was I thinking I will never know. All taken within a 24 hour period. Being male can't blame it on PMS either. I am now going to generate a check list to prevent me from taking dumb trades. Hope that helps.
- #11,816
- Jul 3, 2009 2:49pm Jul 3, 2009 2:49pm
Yes the old mantra of plan your trades and trade you plan applies here. The book "Trading in the Zone" might help you if you have not read it already. Market psychology is so important.
A practical tip that I have applied is that of making an actual hard copy flowchart that outlines the requirements for me to get in and out of a trade.
If x criteria is met = analyze A
if A critera is met = analyze B
if B criteria is met = enter trade
et cetera. YOU are the tool that can be used to either take, or give money to the market. Gain control over yourself and you will be a success.
A practical tip that I have applied is that of making an actual hard copy flowchart that outlines the requirements for me to get in and out of a trade.
If x criteria is met = analyze A
if A critera is met = analyze B
if B criteria is met = enter trade
et cetera. YOU are the tool that can be used to either take, or give money to the market. Gain control over yourself and you will be a success.
Gosh what a disaster. I broke my trading rules and paid the price. 6 losers 3 winners. Of the six losers only one was a trade that went against me, The other 5 I should not have entered had I followed my rules. The setups were just not there. What was I thinking I will never know. All taken within a 24 hour period. Being male can't blame it on PMS either. I am now going to generate a check list to prevent me from taking dumb trades. Hope that helps.
Very good tips DD. What I also do is instead of just making an excel spread sheet of my wins and losses I just take a screen shot of the trades I took and go over them every night. This way I can study them and see what was the perfect setup and what was not without having the histos repainted. I study these over and over until they are firmly planted in my mind so that when I see a setup occurring I will be prepared for it. Just another way of documenting your trades I guess. 
This way you also have all your rules documented and have pictures to go with them so that you can tweak your rules if necessary.
This way you also have all your rules documented and have pictures to go with them so that you can tweak your rules if necessary.
