Originally Posted by alligator
haha of course i sleep... usually i just enter and put a stop, then i'll just check every 4 hour to put a trailing stop (previous 3-5 bar high or low).. depends on the situation or i can just put a limit order for taking profit..
what timeframe do u use??
I'm settling in on Dailies. I've tried many timeframes and other methodologies over the past few years, and Bill Williams Dailies seem to be right for me. I'm also occasionally trading 15M charts. Dailies make sense also because I will be starting a new job soon and won't have the time to stay in front of the PC all day/night. I started a $5000 demo account ~3 weeks ago and it's currently $9700 trading almost exclusively dailies (little bit of break-even 15M chart). Granted, my risk levels were a bit high in this demo account, more than I would risk with a live account, but regardless the balance is moving the correct direction.
I'm using Windsor out of Cypress, who offer Dow, Oil, Gold, Silver, etc. and 27 pairs. Anybody traded with them live? How was the live experience?
However, I do enjoy intraday tick chart trading, which I was able to do last summer for a while. Finances aren't allowing that now, but I will get back to it in time.
Does anybody trade BW methodology on intra day tick charts? How would this type chart affect, if any, the AO or methodology as a whole?
I'm no expert, yet, but I have it counted the same as you and short at roughly the same level as you.
Now management - how do you plan to manage the trade?
I think this 5 wave move we've identified on 4H chart is/was an impulse on Daily time frame, so we are effectively short the Daily corrective wave which has a target range of 38.2 - 61.8 of the impulse.
I'm no expert, yet, but I have it counted the same as you and short at roughly the same level as you.
Now management - how do you plan to manage the trade?
I think this 5 wave move we've identified on 4H chart is/was an impulse on Daily time frame, so we are effectively short the Daily corrective wave which has a target range of 38.2 - 61.8 of the impulse.
Ignored
Hmm, looking at the hourly chart, it seems wave 5 probably not over yet, what do you think?
Looking from your chart, i count the target zone would be around 3376 - 3805
If it not go up to that area, I would sell if it breaks the trend line and put my stop loss at 1.3260
Hmm, looking at the hourly chart, it seems wave 5 probably not over yet, what do you think?
Looking from your chart, i count the target zone would be around 3376 - 3805
If it not go up to that area, I would sell if it breaks the trend line and put my stop loss at 1.3260
