james16 Chart Thread

Quoting The Lord

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No, I mean the following way.

Just use a trailing stop loss of the same pips you intend to put normally. Then when you are up some pips (say 30 pips), move to breakeven and everything is normally managed. No trailing after moving to breakeven. You can take profits in FTA. Its not trailing forever.

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Quoting Adilius07

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Yes Spookie this is exactly what I am working on right now. To get to the positive RR I was doing this:

- Place initial SL behind PB. If FTA is reached move it to BE. If FTA is not reached by the next bar close, move SL behind that bar... And at the same time I choose my target "pretty far" like 50% or next BRN, something like that..

Now I am thinking to go with this:

- Place initial SL behind left-eye. Exit at FTA. Sometime, when the price would form right-eye before triggering my order I will place my stop behind right-eye. Exit...

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Quoting xmzhang

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Good afternoon Jarroo, Mike,
I want to analyse the daily PB trade of the G-C today mentioned by some of the members today and share some thoughts of me with you. This PB was at solid support at 15850-ish, its shape was small (compared to the previous red bars) and was also countertrend against a high momentum downtrend. The question is if we despite of those cons took this PB trade anyway, how should we have managed this (risky) trade ? Managing a trade means to me switching to lower TF and observe PA at potential trouble areas. In this trade FTA...

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Quoting Adilius07

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ah understood. is like if trade moved 10 pips my SL moved 10 pips too. When trade went some distance like 30 my SL just rests at BE. Ok, I was using J16 manager just to move to BE at 30pips (so little simplier idea). I still like that idea, however there would be many BE's then lol. But they are good I know.
This is also an option yes.

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Quoting anderou

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Exited the eur trade with 18 pips profit, aud/usd a bit on the slow side..

ANY advice would be apreciated. on this specific trade this was my thought process.

Pro's- Pin Bar, 150 ema, ppz, fib 50(on large swing)

Con's- not much space for profit(look at my exit and previous highs)

EXited aud/usd at break even, don't want to hang around too long on low tf trades..

There were a lot of potential trades on at that time, I took these two because of the confluence factors, these two trades had 3 or 4 factors, ema's, fibs, ppz, pb etc.. I always...

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Quoting Atc

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Aside from location and other confluences, would you trade a 4H PB even though the daily PB has or has not reached its' target(s) ???

....that is in the opposite direction on a lower TF...hope this is clear...

Thanks,
Bill

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Quoting aserbfx

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somebody considering this h4 beob on gold. it already formed 4 hours ago, but didn't broke so far.

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Quoting mbqb11

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Hey Zhang

I rarely go to lower timeframes to manage a trade I think it overc omplicates the process. You correctly identified that it was trading right into 1.6. If you see this and STILL want to trade it then that is a great area to do SOMETHING. Maybe go to b/e, maybe reduce risk some, maybe take 1/2 off, maybe take full profit. Can you wait for lower timeframe pa to suggest to get out? Sure that is viable too, but I think it keeps it simple if you do it all on the same timeframe.

Best
Mike

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Quoting bluetrader

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Hey aserb, I considered it but didn't like the way it closed. Nice div too.

-- Danny

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Quoting Bollocks

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here is a question for ya Mike,
if price is at a PPZ on say the daily, would you look at the 4h for a setup?

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Quoting The Lord

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How about making that stop a 'trailing stop'?

I put the stop behind left-eye or below major s/r zone (whichever is comfortable), but always a trailing stop. It has been a good improvement on taking care of losses.

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Quoting mihazupan1

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Could you please write a bit more about trailing stop? I suppose you use it frequently. How big should a trailing stop be (in pips)? When to use it?

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Quoting pipmyride

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Hey "Breakout" Mike

Just wanted to get your thoughts on the GA bad-boy range that doesnt want to stop ... where are you seeing the range and how could you play a breakout on that sucker ?

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Quoting mbqb11

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August has been flippy floppy so it is up to the market now

Best
Mike

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Quote

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Hey Pip

I actually am long as a pure breakout play of multi bar highs. Like you and many others I feel this was the proper range to do it. Unfortunately as of right now I picked the top http://cdn.forexfactory.com/images/s..._the_floor.gif

I am hoping 1.75 holds and we continue higher. My original stop was under 1.73 so I have eliminated about half my risk.

We shall see! August has been flippy floppy so it is up to the market now

Best
Mike

Quoting mbqb11

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Hey Pip

I actually am long as a pure breakout play of multi bar highs. Like you and many others I feel this was the proper range to do it. Unfortunately as of right now I picked the top

I am hoping 1.75 holds and we continue higher. My original stop was under 1.73 so I have eliminated about half my risk.

We shall see! August has been flippy floppy so it is up to the market now

Best
Mike

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Quoting squeezy

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hey Mike
dnt follow this pair but interested in your thinking on an entry already looking at the serious sideways movements here
wldnt a breakout + pullback + pa be much safer here, yet again based on the choppiness lately, it might not bop nicely
anyways going to watch this for learning purposes
cheers

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