When do you move your stop to breakeven? When your R:R is 1:1 or what? Thanks.
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I use experience and optimized observations to move my stoplosses. Sometimes I move it to lose some of what I risked and other times I move it completely to breakeven. In this case I saw weakness in the movement at major support.
Nice indicator, i'm sure traders will find it useful, only thing is that it only showed formations for long entries. And I just want to remind traders that not all 1,2,3 candle formations are entries they must be with the trend, they must be retracements and bouncing off s/r.
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ah yes well i set it so u can show only long or only short entries, to show short just set the long box to "false". This way u can decide what the trend is using what ever method u want and then set it to show them in only one direction.
Thanks Nelson for the thread. I use similar method with some differences. In mine i watch out 4 previous 5 candles in a daily chart and open 2 similar positions in each trade. 1 with a sl similar as yours and tp same as sl. the 2nd have a sl bt no tp then i will kp modifying the sl as the trade progresses. The trade ends wnever it reaches a set sl.
ah yes well i set it so u can show only long or only short entries, to show short just set the long box to "false". This way u can decide what the trend is using what ever method u want and then set it to show them in only one direction.
Thanks Nelson for the thread. I use similar method with some differences. In mine i watch out 4 previous 5 candles in a daily chart and open 2 similar positions in each trade. 1 with a sl similar as yours and tp same as sl. the 2nd have a sl bt no tp then i will kp modifying the sl as the trade progresses. The trade ends wnever it reaches a set sl.
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Glad to see you following the thread. I personally prefer to either be all in or all out of a trade, keeps it simpler for me. I also have tried in the past opening two positions one at 1:1 and the other was allowed to run but what I found with this strategy and others was that exiting completely out of a trade at one time allowed me to be more profitable.
Glad to see you following the thread. I personally prefer to either be all in or all out of a trade, keeps it simpler for me. I also have tried in the past opening two positions one at 1:1 and the other was allowed to run but what I found with this strategy and others was that exiting completely out of a trade at one time allowed me to be more profitable.
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Ok. But atimes trend last for days and when they do they mk a lot of pips. A single trade of that nature atimes can give you more than 10% of your yearly profit
Ok. But atimes trend last for days and when they do they mk a lot of pips. A single trade of that nature atimes can give you more than 10% of your yearly profit
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I understand that trends last for days and that when they do they will make you plenty of pips but there is nothing that says that while you exited the first part of the trade at 1:1 and captured the rest with the second half of the trade that I am completely out of the trade I may have rode along just as long as you did but with my complete trade still in tact. Through basktesting is how I determined the best form of exiting my trades. And in every analysis I have ever done in the past when I have considered exiting half at one point and the other half allowed to run I have always come out on top by not breaking up the exit. We learn from our experiences if this is what you have found works best for you by all means continue doing the same.
I understand that trends last for days and that when they do they will make you plenty of pips but there is nothing that says that while you exited the first part of the trade at 1:1 and captured the rest with the second half of the trade that I am completely out of the trade I may have rode along just as long as you did but with my complete trade still in tact....
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Thanks. Atimes my exit doesnt work and accounts for painful loses. I wil try out yours and also look for a way to modify mine.
Nice, very nice...patience...that's 4hs problem, you see the grass grow up.
Good trade to all.
Popeye.
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Sorry I wasn't able to respond sooner. Nice trade. Congratulations. I had my eye on that trade ever since it hit the bottom of the previous support turned resistance. I actually exited the trade at 1.57703 due to the fact that I was also in a few other trades especially the gbp/jpy which gave me over 12% profit. Over 25% profit this week off of several trades and 2 strategies. Are you still in that trade?
Sorry I wasn't able to respond sooner. Nice trade. Congratulations. I had my eye on that trade ever since it hit the bottom of the previous support turned resistance. I actually exited the trade at 1.57703 due to the fact that I was also in a few other trades especially the gbp/jpy which gave me over 12% profit. Over 25% profit this week off of several trades and 2 strategies. Are you still in that trade?
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Nelson,
Hi, I'm sorry, I didn't see your answer, one year later but is better than never.
Ok, I was stoped out in the next support that become a resistence.
This is a very nice system, it become suitable for me when I adjust my life style to it.....ie, I always be all the time gluted to the screen, so now I came to them only each 4 hours....and let me do many many others things.
So, I encorage to anybody to follow systems like this, the signals are really good and always you are in the rigth side of the market.
So, I would like Nelson if you still trade it, show us your charts and I'm sure you have many many thing to teach us after one year.
Thank you for your help and have a good trading
Pop.
To make an omelet you have to break a few eggs so breathe and be happy
