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Trading Major Lines

  • #101
  • Feb 22, 2011 6:27am Feb 22, 2011 6:27am
Quoting BaliuxXx
looks like
looks valid setup..(pin-ish bullish engulfing candle)
  • #102
  • Feb 22, 2011 6:36am Feb 22, 2011 6:36am
Quoting sam69
this is a excellent way to add more... btw. its similar to my method,see how my sl looks like now...
second position should be moved to b.e after moving around 20-25 pips in the direction..
so you now might have two positions both locked at break even..
Another thing about the method is I try to slow down to open a new position or in this case to add more position when 4 hr candle is ending soon..
The reason for that is that there is usually a pullback at the beginning of a new 4hr candle.
We don't want to deal with pullbacks when we open/add a trade..
Pullbacks should be already passed by the time we make our entry
  • #103
  • Feb 22, 2011 6:47am Feb 22, 2011 6:47am
explaining last post with charts..
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  • #104
  • Feb 22, 2011 6:52am Feb 22, 2011 6:52am
Nomask, wonderful great trading plan. Been following for a few days now and like what I see.

Just one thing I missed on the last e/u trade. I waited for the candle on 4hr to close at 1.35473 which was bearish, so had to wait for a bullish candle, this had a move of over 140 pips. On this candle I placed my fib, went down 15 min chart to wait for entry, this had a breakout of the high. Now I'm in the trade with stop 1.3664. Is this right or should I have taken the bearish candle close as it did have a bit of a shadow but not a pinbar on my chart
  • #105
  • Feb 22, 2011 6:59am Feb 22, 2011 6:59am
Well that been a long 140 pip bar did have me stopped out on pullback just like you said on last post. So would I now wait for another entry?
  • #106
  • Feb 22, 2011 7:09am Feb 22, 2011 7:09am
...sl hit (130 pips),fib drawn on last 4h candle and waiting for pullback...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #107
  • Feb 22, 2011 7:15am Feb 22, 2011 7:15am
so far eurusd has been so good to me today...
Wheneever I said something about the method ,It played exactly what I said..
This chart clarifies my last two posts better...
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  • #108
  • Feb 22, 2011 7:17am Feb 22, 2011 7:17am
Quoting sam69
...sl hit (130 pips),fib drawn on last 4h candle and waiting for pullback...
I never trail my stop...
In the long run it cost more than just letting them die at break even..
  • #109
  • Feb 22, 2011 7:21am Feb 22, 2011 7:21am
Quoting nomask
I never trail my stop...
In the long run it cost more than just letting them die at break even..
answering furthermore..
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  • #110
  • Feb 22, 2011 7:31am Feb 22, 2011 7:31am
Quoting nomask
I never trail my stop...
In the long run it cost more than just letting them die at break even..
ok,got it
Money is made by sitting, not trading. Jesse L. Livermore
  • #111
  • Feb 22, 2011 7:36am Feb 22, 2011 7:36am
Quoting nomask
answering furthermore..
i hope you dont get bored with my question
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SonY, Gold Is Every Where Gold, but Human Not Gold..
  • #112
  • Feb 22, 2011 7:42am Feb 22, 2011 7:42am
Quoting nomask
5 min chart attached..
Hello nomask.

Always liked your clean charts from millipede thread. Congratulations on your new thread.

Just wanted to clarify for my understanding.
The chart in post 70: is the fib drawn on a completed 4 hr candle? May be my brokers bar times are different.

Thanks and best of luck

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #113
  • Feb 22, 2011 8:01am Feb 22, 2011 8:01am
Quoting TradeStar
Hello nomask.

Always liked your clean charts from millipede thread. Congratulations on your new thread.

Just wanted to clarify for my understanding.
The chart in post 70: is the fib drawn on a completed 4 hr candle? May be my brokers bar times are different.

Thanks and best of luck

TradeStar
Hello tradestar..nice to see you around...
its fib of the last 4hr candle you can see on the post 67...
http://www.forexfactory.com/showpost...8&postcount=67
  • #114
  • Feb 22, 2011 8:25am Feb 22, 2011 8:25am
one losing attempt...
cut the losses short..
first long is still on..
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  • #115
  • Feb 22, 2011 8:25am Feb 22, 2011 8:25am
Quoting sam69
hey people, look at that!
Nice entry Sam, I got in at 3560 but yours is so cool!

-----

I've been used to 90-100 pip targets in the past, it's SOOOO really tough not closing out this baby

Nomask, any logical way to move stop to BE or do you just do it when there is a move of 30 pips in your favour?
  • #116
  • Feb 22, 2011 8:38am Feb 22, 2011 8:38am
Quoting pippin4me
Nice entry Sam, I got in at 3560 but yours is so cool!

-----

I've been used to 90-100 pip targets in the past, it's SOOOO really tough not closing out this baby

Nomask, any logical way to move stop to BE or do you just do it when there is a move of 30 pips in your favour?
It depends on the setup..
I try to move it based on a reason but sometimes I just move it to b.e after 20-30 pips...
because even after coming back and hunting my position at break even it usually gives me another setup if the price still wants to move in my direction.
  • #117
  • Feb 22, 2011 8:48am Feb 22, 2011 8:48am
Quoting nomask
Hello tradestar..nice to see you around...
its fib of the last 4hr candle you can see on the post 67...
http://www.forexfactory.com/showpost...8&postcount=67
Thanks.

I recognized which 4 hr candle you were drawing the fib. But I still think it was not drawn on the complete range of that 4 hr candle.

When I did, the PA happened at 68% level.

Anyway, didn't mean to bug you with the same stuff.

Thanks again

TradeStar
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #118
  • Feb 22, 2011 8:49am Feb 22, 2011 8:49am
Quoting nomask
one losing attempt...
cut the losses short..
first long is still on..
stop placement of this entry...
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  • #119
  • Feb 22, 2011 8:51am Feb 22, 2011 8:51am
Quoting TradeStar
Thanks.

I recognized which 4 hr candle you were drawing the fib. But I still think it was not drawn on the complete range of that 4 hr candle.

When I did, the PA happened at 68% level.

Anyway, didn't mean to bug you with the same stuff.

Thanks again

TradeStar
The charts I'm posting are from fxdd-malta timezone which is a gmt+2 timezoned broker..same with my local time.
  • #120
  • Feb 22, 2011 9:24am Feb 22, 2011 9:24am
Quoting pippin4me
Nice entry Sam, I got in at 3560 but yours is so cool!

-----

I've been used to 90-100 pip targets in the past, it's SOOOO really tough not closing out this baby

Nomask, any logical way to move stop to BE or do you just do it when there is a move of 30 pips in your favour?
thanks pippin,my entry was a little risky,but i use very tight sl,usually 10 pips...
Money is made by sitting, not trading. Jesse L. Livermore
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