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  • #422,581
  • Apr 15, 2011 1:37pm Apr 15, 2011 1:37pm
Quoting w1nner
I regret that, I wanted to recommend to put the TP at BE+1-2 pip. It is what I did in a similar situation. I had a 30-40 winner and some looser trade statistics but I risked a lot. Then I blew another account with one bad trade. Now I am closing the trades manually when it reaches the "mental" stop but doing that I lose more than I win and all of my trades was a winner in some minutes/hours (except some ones when I knew initially I was wrong). I say the candle close matters but by the time of the close the price can go a lot away. Handling stoploss...
I always wait for candle close myself, unless, it goes x pips beyond my mental stop point.

The way your stops are set though, breakouts against you should come back for a retest of the breakout level, and this is when it should be closed out.

When I am trading, my mental stop is that of the low of the current candle I am entering on. Any close below that and I'm out.
  • #422,582
  • Apr 15, 2011 1:37pm Apr 15, 2011 1:37pm
i wonder where we close tonight
  • #422,583
  • Apr 15, 2011 1:40pm Apr 15, 2011 1:40pm
Quoting Pipwanderer
i wonder where we close tonight
I am almost sure that we will close below 1.4440 tonight...
  • #422,584
  • Apr 15, 2011 1:41pm Apr 15, 2011 1:41pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting fxpreacher
myfxbook... however... i can't use it with oanda.
I use Oanda, download Metatrader and run Publisher.

If you have a Mac like I do, download Crossover - it emulates MetaTrader on OSX.
  • #422,585
  • Apr 15, 2011 1:42pm Apr 15, 2011 1:42pm
Quoting apt
That right there is the holy grail!

Making 20-50 pips on one or two trades, and walking away for the day. Who cares whether a monster set up will appear later in the day. Forget about it.

If you can do that, then you have indeed found the Holy Grail within yourself.

Thing is, most of us can't.
Yes, you know I always have very good ideas and I am creative, I can adapt myself to market conditions. I usually see a good setup right when I come to the computer. All the thing I should do is to enter and to set the SL to BE+1 and watching the profit to run. In my mind. Not just technically, it is intuition. The problem is that I miss them, miss the the entry point or I choose another losing one. This is my habit. I want to change.
  • #422,586
  • Apr 15, 2011 1:42pm Apr 15, 2011 1:42pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting PhAnTi'
This is the most sticky statement i've read so far on ff.com .....

thats what i mean with the statement on my pinboard...

The holy grail is the correct mindset.
Yup, most of the secrets in life are nothing more but mental perception.
  • #422,587
  • Apr 15, 2011 1:43pm Apr 15, 2011 1:43pm
its probably to late for oil to drop today.. but man i can c it touching 107.84 if it losses the current hour support 109.39 atm... h low 109..32... support untouched at 109.23 atm.. .. current level 109.42
those who can, do. those who cant, talk about those who can
  • #422,588
  • Apr 15, 2011 1:44pm Apr 15, 2011 1:44pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting w1nner
Yes, you know I always have very good ideas and I am creative, I can adapt myself to market conditions. I usually see a good setup right when I come to the computer. All the thing I should do is to enter and to set the SL to BE+1 and watching the profit to run. In my mind. Not just technically, it is intuition. The problem is that I miss them, miss the the entry point or I choose another losing one. This is my habit. I want to change.
Same, it has become a costly process for me.
  • #422,589
  • Apr 15, 2011 1:45pm Apr 15, 2011 1:45pm
hope that pair will be calm till close today
i usually do not open trades on friday but i just could not resist and i have just shorted aud/usd
  • #422,590
  • Apr 15, 2011 1:45pm Apr 15, 2011 1:45pm
Quoting w1nner
I regret that, I wanted to recommend to put the TP at BE+1-2 pip. It is what I did in a similar situation. I had a 30-40 winner and some looser trade statistics but I risked a lot. Then I blew another account with one bad trade. Now I am closing the trades manually when it reaches the "mental" stop but doing that I lose more than I win and all of my trades was a winner in some minutes/hours (except some ones when I knew initially I was wrong). I say the candle close matters but by the time of the close the price can go a lot away. Handling stoploss...
big boys never use SL because they know currency moving path ...

i studied from my experience

1, there is only 1 to 4 trades a day to get 20 to 80 pips
2, use SR ( andrews pitch fork )
3, use news and economical calender
4, money management ( use 2.5% for trade )
5, dont use indicators and EA

need 2 year experience to be good trader.

this is my growth style in trading

http://i.imgur.com/KtP5m.gif
--------------------
  • #422,591
  • Apr 15, 2011 1:46pm Apr 15, 2011 1:46pm
Quoting sriramsh
I am almost sure that we will close below 1.4440 tonight...
too early to call moves might come in last minute..happens quite often
  • #422,592
  • Apr 15, 2011 1:50pm Apr 15, 2011 1:50pm
Quoting gatorinla
its probably to late for oil to drop today.. but man i can c it touching 107.84 if it losses the current hour support 109.39 atm... h low 109..32... support untouched at 109.23 atm.. .. current level 109.42
*L* its at 109.23 now.. with a low at .20
those who can, do. those who cant, talk about those who can
  • #422,593
  • Apr 15, 2011 1:51pm Apr 15, 2011 1:51pm
Quoting Venice
I always wait for candle close myself, unless, it goes x pips beyond my mental stop point.

The way your stops are set though, breakouts against you should come back for a retest of the breakout level, and this is when it should be closed out.

When I am trading, my mental stop is that of the low of the current candle I am entering on. Any close below that and I'm out.

Yes, I absolutely did the same way so far. I wait for a retracement or retest so I can close it a few pips better, generally halfway. It works 99% of the time but that remaining 1% is very dangerous. I remember a trade some weeks ago (EURJPY) there were news on the USD (I thought it is not dangerous for EURJPY) and it jumped a very big up. The window was open and the mouse cursor was close on the button despite I did not have time close it manually so I closed it at the worst place. Then immediately turned back and 5 minutes later it was a winner one. Then started to drop as I expected and would win a lot...
  • #422,594
  • Apr 15, 2011 1:54pm Apr 15, 2011 1:54pm
looks like 44 is going to be the close to me... they are keeping it near there for the close... i wouldnt expect anything to develop the rest of the way...
  • #422,595
  • Apr 15, 2011 1:58pm Apr 15, 2011 1:58pm
Quoting fldash
looks like 44 is going to be the close to me... they are keeping it near there for the close... i wouldnt expect anything to develop the rest of the way...
don't overlook a attempted push to 83 73 69 or 56.
winner gets the ball
those who can, do. those who cant, talk about those who can
  • #422,596
  • Apr 15, 2011 1:59pm Apr 15, 2011 1:59pm
Quoting leandar
big boys never use SL because they know currency moving path ...

i studied from my experience

1, there is only 1 to 4 trades a day to get 20 to 80 pips
2, use SR ( andrews pitch fork )
3, use news and economical calender
4, money management ( use 2.5% for trade )
5, dont use indicators and EA

need 2 year experience to be good trader.

this is my growth style in trading

http://i.imgur.com/KtP5m.gif
Hi, thanks for the advices. What is SR (point 2)? Do you really not use indicators? How can you filter out the trades then? Candlesticks?
  • #422,597
  • Apr 15, 2011 2:03pm Apr 15, 2011 2:03pm
Quoting gatorinla
don't overlook a attempted push to 83 73 69 or 56.
winner gets the ball
gator, i will shit some pretty good size bricks if they push this above 56... what if they push it down?
  • #422,598
  • Apr 15, 2011 2:05pm Apr 15, 2011 2:05pm
there has been times when the market rather moves around the close...just my 2 cents
Quoting gatorinla
don't overlook a attempted push to 83 73 69 or 56.
winner gets the ball
  • #422,599
  • Apr 15, 2011 2:07pm Apr 15, 2011 2:07pm
Quoting fldash
gator, i will shit some pretty good size bricks if they push this above 56... what if they push it down?
vasoline
Inserted Video
those who can, do. those who cant, talk about those who can
  • #422,600
  • Apr 15, 2011 2:25pm Apr 15, 2011 2:25pm
Quoting w1nner
Hi, thanks for the advices. What is SR (point 2)? Do you really not use indicators? How can you filter out the trades then? Candlesticks?
What Indicators do you use? I also don't use any indicators.

I only use Pivots, Fibonacci, Trendlines and a few SMAs.
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