" Never let the past hold the future to ransom "
- #1,421
- Aug 25, 2009 11:28am Aug 25, 2009 11:28am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
- #1,424
- Aug 25, 2009 11:38am Aug 25, 2009 11:38am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #1,427
- Aug 25, 2009 11:50am Aug 25, 2009 11:50am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
nice trade indeed.
But as Sir Glen puts it more eloquently, the candles and overall PA are telling an interesting story. GBP is week.
My SL is only 20 pips away but I am sticking with it, will find a suitable re-entry if I get stopped out
- #1,428
- Aug 25, 2009 11:54am Aug 25, 2009 11:54am
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
The trading style that you use needs time for estimating the bigger picture, analyzing what's going on etc. What I like in this system is the possibility to take trades also without any of that work and even without watching the charts very much. "Low maintenance" system indeed
You are correct, once you start mixing in higher TF`s you have to look at a bigger picture.
For intraday trading, it is relatively simple, straightforward and profitable.
" Never let the past hold the future to ransom "
- #1,429
- Edited 12:12pm Aug 25, 2009 12:00pm | Edited 12:12pm
- Joined Jun 2009 | Status: Trader | 2,430 Posts
- #1,430
- Aug 25, 2009 12:00pm Aug 25, 2009 12:00pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #1,431
- Aug 25, 2009 12:18pm Aug 25, 2009 12:18pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #1,432
- Aug 25, 2009 12:50pm Aug 25, 2009 12:50pm
The trading style that you use needs time for estimating the bigger picture, analyzing what's going on etc. What I like in this system is the possibility to take trades also without any of that work and even without watching the charts very much. "Low maintenance" system indeed
but soon realized that in short term you may gain positive results but few bad losses will leave you frustrated and it will be just throwing darts in the dark. You will hear complains about brokers stop hunting and having "a thing for me" Liked MTF Trix in this thread (thanks to SwingMan for wonderful indicators), made a lot of sense but again there were some bad trades, like buying at top of the ADR where all indicators were pointing correctly at that time.
So there comes Sir Glen, instead of just looking at a MTF signal, start from higher TF, try to make some sense of the direction, move your way down to 5 minutes TF and BAM you got pips...
With enough practise, it is going to only few seconds to flip through different time frames but you will be entering any trade with lot more knowledge and high probability of major pippage.
GBPUSD update: locked in almost 70 pips, SL at 6355
WANT WHAT THE MARKET WANTS...
- #1,433
- Edited 1:12pm Aug 25, 2009 12:55pm | Edited 1:12pm
- Joined Jun 2009 | Status: Trader | 2,430 Posts
I was impressed with "less is more"
Liked MTF Trix in this thread (thanks to SwingMan for wonderful indicators), made a lot of sense but again there were some bad trades, like buying at top of the ADR where all indicators were pointing correctly at that time.
So there comes Sir Glen, instead of...
Right now I have a short EU running. But its TP is not too big. Usually I do not like leaving anything open for the night. Better to get out and sleep well 
- #1,437
- Aug 25, 2009 2:34pm Aug 25, 2009 2:34pm
How could anybody KNOW such a thing? Would probably be the richest man in the world...
there is an old saying...
when the pupil is ready, the master will appear
WANT WHAT THE MARKET WANTS...
- #1,439
- Aug 25, 2009 2:44pm Aug 25, 2009 2:44pm
- Joined Jun 2009 | Status: Trader | 2,430 Posts
.........or woman!!
Carol
