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GBP/USD Trading with Linhchiter' System

  • #21
  • Dec 17, 2010 9:46am Dec 17, 2010 9:46am
Looking good for your short, you could update to BE now or take the profit.
  • #22
  • Dec 17, 2010 10:04am Dec 17, 2010 10:04am
I've taken profit @ 5500 +62 pips
  • #23
  • Dec 17, 2010 2:26pm Dec 17, 2010 2:26pm
Quoting zamanib
I have this system on 30 pips rangebars-- all bars are 30 pips equal

i will go long if this bars close on the up side 15643 will enter long
15644
I - will trade this system with 30 pips rangebars ( it is not renko)

I will buy on the bars crosses up and close above the 20sma and macd 0 line opposite for the sell today we had 2 crosess -- both give 30 pips each --
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #24
  • Dec 17, 2010 2:34pm Dec 17, 2010 2:34pm
Looking good-- base on the previous post rules

Each bars are 30 pips -- tp 30 pips sl could be on the cross over back -- both macd and sma
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #25
  • Dec 18, 2010 6:37am Dec 18, 2010 6:37am
looking good, how much pips are you making a week using this system? does it work on other pairs?
  • #26
  • Edited 8:03pm Dec 19, 2010 7:09pm | Edited 8:03pm
Sell 5488 tp 5450 sl 5550

macd - lower
rsi - below 0
momentum - moving lower

Should have waited for the pull back as Linhchiter indicated.

Sell 5512 tp 5450 sl 5550

Now have 2 sold contracts.
  • #27
  • Dec 19, 2010 11:06pm Dec 19, 2010 11:06pm
Quoting Cosmo
Sell 5488 tp 5450 sl 5550

macd - lower
rsi - below 0
momentum - moving lower

Should have waited for the pull back as Linhchiter indicated.

Sell 5512 tp 5450 sl 5550

Now have 2 sold contracts.
You maybe correct -- But I will not sell I will buy once price close above sma and macd zero line -- the last sell was at pink arrow 15580
Attached Image (click to enlarge)
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #28
  • Dec 20, 2010 12:33am Dec 20, 2010 12:33am
Quoting zamanib
You maybe correct -- But I will not sell I will buy once price close above sma and macd zero line -- the last sell was at pink arrow 15580

I still see the downside prevailing unless it breaks 5560, next levels 5450 & 5420
  • #29
  • Dec 20, 2010 2:15am Dec 20, 2010 2:15am
Quoting Cosmo
Sell 5488 tp 5450 sl 5550

macd - lower
rsi - below 0
momentum - moving lower

Should have waited for the pull back as Linhchiter indicated.

Sell 5512 tp 5450 sl 5550

Now have 2 sold contracts.

Stopped Out LOSS 100 pips
  • #30
  • Dec 20, 2010 2:27am Dec 20, 2010 2:27am
Quoting Cosmo
Stopped Out LOSS 100 pips
Yes -- it depends how u see and read the charts-- yes we are in down trend but where is end we dont know-- I would have sell when is cross back below sma and macd (after it move above-- if we want to trade with the trend) but we learn as we go
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #31
  • Dec 20, 2010 3:01am Dec 20, 2010 3:01am
Buy @ 5555 tp 5600 sl 5495
  • #32
  • Dec 20, 2010 3:21am Dec 20, 2010 3:21am
Hey Cosmo, should the entry not have been an hour earlier @ 5539 ?
  • #33
  • Dec 20, 2010 3:54am Dec 20, 2010 3:54am
Quoting Dexxter
Hey Cosmo, should the entry not have been an hour earlier @ 5539 ?

Yes.. But I'm using an RSI as a filter and it wasn't over the 50 level
  • #34
  • Dec 20, 2010 4:48am Dec 20, 2010 4:48am
look like we will get a buy soon -- but must wait for bar to close and macd is above zero
Attached Image (click to enlarge)
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #35
  • Dec 20, 2010 7:05am Dec 20, 2010 7:05am
Quoting Cosmo
Buy @ 5555 tp 5600 sl 5495

SOLD @ 5526 RSI dropped below 50

LOSS = 29 pips

TOTALS = +62 -100 -29 = -67 pips
  • #36
  • Dec 20, 2010 7:11am Dec 20, 2010 7:11am
I've just looked at this thread, and the author seems to be in agreement with you

Quoting linhchiter
There are 2 basic ways to Entry:

1. Entry Soon when market have just begun turning reversal. If you choose this way you will avoid psychology problem with market retracement (without worry) because your order is still profit, you ordered so soon. But this way will have higher risk, because market can go on trend to ur entry failure.

2. Entry when market gave some signals, your order will have lower risk. However, you will have spychology problem with this second way if market retrace.




I choose the third way.
  • #37
  • Dec 20, 2010 8:20am Dec 20, 2010 8:20am
Sharing:

I've appreciated SMA-20 levels & psychology levels, you can use them to exit. However, having a tool to help you "Emergency Exit" very cool... thats indicator which joined RSI & BB

http://img28.imageshack.us/img28/9411/exitindi.png
  • #38
  • Dec 20, 2010 11:42am Dec 20, 2010 11:42am
hey I am going to sell if price comes down @5488
the macd is showing down and on bigger time frames we are in a down trend
sl @ 5542 and hopefully i can update to be in 3 till 4 hours
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  • #39
  • Edited Dec 21, 2010 3:12am Dec 20, 2010 7:59pm | Edited Dec 21, 2010 3:12am
Buy @ 5548 tp 5600 sl 5508
  • #40
  • Dec 21, 2010 4:06am Dec 21, 2010 4:06am
Quoting Cosmo
Buy @ 5548 tp 5600 sl 5508

STOPPED OUT @ 5508

LOSS 40 pips

Market is churning prior to Christmas.... I'm out until the New Year

Merry Christmas & a Pipmongess New Year
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