sell high buy low

Wow, i've been called Sir, that is quite an honour! No not quite at all. What i mean is i buy high and sell low. In other words i take the trade when there is less risk involved; catching the chunk of the move.

sell gu @ 138 fib ext

Hi guys,

this thread is very interesting!!!

I like the indicator of previous High and Low.... 0_HighLow_Custom.mq4

Anyone who could change it to: ''Maybe some programmer out there could even tweak it to show previous H/L instead of current'' ?

many thanks! puma

Used the news to your advantage. I used sell /buy at the 123 138 161 200 fib expansion. But because of major news . I wait fot the 4hr candle to close then look for any retracement if it fail to retrace 38% fib the trend most like to continue up or down. Also look to see where price was before the news. If it was a previous week high (then I will be dumb to sell at the 123 or even 138 fib expansion) like wise if it was the at the previous week low.
more chart on its way.

here u go

what happen guys no one trade this way. I know many trades this way it cannot be accidental that all these pairs stop at these fib level and retrace and make a U turn at the 200 161 138 123

happen every week

NEw

anyone following this?

Yes ME. If you are a price action trader, this method is very good to incorporate into your trading plan.

BTW: Zaman is a very good trader with great market insight. He taught me a lot actually. Great guy.

Seb

I have a next system on price action you can see my live trades here
http://www.fxtradewin.com under trades http://zamanib.mt4live.com/

1) how do you decide whether to sell at the weekly high/ buy at weekly low

or

buy and sell at the weekly 138~161 fib levels.

2)Also in case the market closes near its weekly high or near its weekly low do you sell the high and buy the low for the following week. Wouldn't this be a little risky because from the fact the market has closed near the weekly high/ or weekly low indicates a trending market.

thanks

Sorry i dont want to re open a old thread i know its considerd incorrect by some but here goes.(i just stumbled onto this)

To be quite str8forward my friend the way you started it, does kinda ring scam alert, because your entries are very unclear and wht ppl know and have learnd is to view ading to losers or letting losers run is unwise, so you should understand the hostilaty.
I myself might not trade this but i think i know wht you are doing.

Everyone drawing fibs are not with this, this system has to do mostly and would work more effectivly with double tops and bottoms i think thts the whole idea behind this system just scanning it quickly, with the expectation tht price dont always hold true to the support or resistance zone, but also if it move a great amount in one direction towards the double top or double bottom its general knowlege tht i retracment is due and thts where you aim for profit, and quite often double tops or bottoms also starts a minor trend if not a very large one.

But its true for this system you need a hefty account to fork up to a loser you know, you should still keep to the 1% rule, but i think you can make it 2% in this case seeing tht you have pretty wide running space so it would increase your winning % by a great extent, but the 2% would not be for each execusion, it would would be for the entire adding on session, so if you added 5sell orders each lets say 100pips out of each others with each one being double(martigale or whteva) the prev.
That whole exercise should then be only 2% of your entire bankroll if it is executed tht way then you are onto a great system here, but i guess most ppl just cant see the geniusness in tht, and most ppl will also not execuse it in tht way which would make them as others have said blow their account.

Kwl man if you were looking for someone to snap your system i think thts about as close as you going to get to wht you are or should be doing.
It would make your system have good MM,higher win rates, and give also solid entries, ex of entry would be at a double bottom enter at break of prev bar high for agressive, and if you conservative, take pin bars, or outside bar with a retracment after that then enter at break of prev bar high, or Inside bar either same as pin or outside bar depending how agressive you trade.
That PA would generate i higher rate of success and if it does get pushed down y some sell orders, you know you enter another buy order 100pips lower or however you trade it.

Ok now tht i have given my idea of how it should be traded(which i think is pretty well explaind), would you mind just giving me a written explination of how you trade it??

Thanks.
(please mind my spelling)

I get the system you are talking about its like a contrararian outlook. Wouldn't it be better to let someone else take the risk of supporting a bottom?
Institution have MUCH MUCH MUCH more capital to risk than we do.

A lot of price action trader (like myself) will wait for at least a trend line break (of the current bear trend) and a test of the New Trend (bull trend) before feeling confident in taking a position Contrary to the long term trend.

My next post will be an example.

I used to actually trade like that but there is only one flaw to that idea. No matter how many scalp pips you pick up or how many bottoms you pick up in a secular bear trend all you need is a run away falling market to completely wipe out all your winnings.

We Trade to make money which also includes not risking excessively.



This is a snap shot of today's Aud/usd Bull trend.

Institutions have a shit ton of money the really do control the market. I find its easier and less dangerous to you account to just let the institutions take a stance (long or short). Look for hits on institutional buying or selling and just try to ride their wave.

Let them take the risk of creating a market bottom or a price ceiling.