Here is where I would place my stop loss, even though I am beyond the event that got me in the trade, the round number will act as a resistance and in case it over shoots it a little I place it a few pips above that round number...
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DislikedHere is where I would place my stop loss, even though I am beyond the event that got me in the trade, the round number will act as a resistance and in case it over shoots it a little I place it a few pips above that round number...Ignored
DislikedLike I say the system is incredibly simple and extremely effective and it always keeps your risks low because you are looking for low risk high probabilty trades with very little drawdown in case things do go the wrong way and there are times when they will. But there will always be very little at risk. And even if the market does back up on you there will probabaly be a second chance at the same setup. Always make sure you know where those round numbers are because they are HUGE S/R lines. And know the ADR if intraday trading to make sure you have...Ignored
DislikedHi NightMoves
Thanks for sharing your 3 SMA trading methods. I am a newbie and in favor for MA trading but most of the threads started are inactive now
I will look into your thread often and pick up your advice.
Looking forward to see your analysis and posting.
Keep up your good work. Bravo.Ignored
DislikedHi great thread. I am also using a very similar system. It would be so nice to colloborate with you and trade together as we could all help each other to confirm the entry, trend, SL, TP, etc.
I have found this system combined with a good 4H breakout strategy could possibly profit the skilled trader 300-1000 pips a day.
I believe strongly is we all work together we could do the same together.
I will post charts on Monday.
I am currently watching the reversal head and sholders pattern on the GBPUSD 15 min chrt.
Will you confirm that the...Ignored
DislikedHi great thread. I am also using a very similar system. It would be so nice to colloborate with you and trade together as we could all help each other to confirm the entry, trend, SL, TP, etc.
I have found this system combined with a good 4H breakout strategy could possibly profit the skilled trader 300-1000 pips a day.
I believe strongly is we all work together we could do the same together.
I will post charts on Monday.
I am currently watching the reversal head and sholders pattern on the GBPUSD 15 min chrt.
Will you confirm that the...Ignored
DislikedThe group effort is good idea, remember safety in numbers...
The only other indicator I use is one that searches the pairs and their time frames looking for trends the indicator is like a dash board with all the pairs I trade and the little boxes show up green or red depending on if the trend is up or down and it shows what time frame it is on. I do not trade TF less then 30 minutes, at least not when looking for setups, I use the smaller TF for triggering the trade, here is the other indicator I use, this is a copyrighted indicator, I do not...Ignored
DislikedI woukd love to get that dashboard.
So when price falls between the 30 and 50 MA, and the bell rings;
does that give you a strong signal to enter the trade. Im sure you confirm that your 1-2-3 rules are met, etc.
The ADR shows average pips the pair will move that day right?
Are you able to catch at least 50% of the ADR using the dashboard?
Yes you are right very much strength in numbers.Ignored
DislikedI woukd love to get that dashboard.
So when price falls between the 30 and 50 MA, and the bell rings;
does that give you a strong signal to enter the trade. Im sure you confirm that your 1-2-3 rules are met, etc.
The ADR shows average pips the pair will move that day right?
Are you able to catch at least 50% of the ADR using the dashboard?
Yes you are right very much strength in numbers.Ignored
DislikedNightmoves,,,Thanks for your time and effort,,,I have used trendline breaks and round numbers along with fibs for entrys and exits,,etc. With moderate success,,...So I am looking forward to learning your methodical approach to help fine tune my skills,,,,Your contribution is appreaciated..Ignored