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  • #423,361
  • Apr 18, 2011 10:47am Apr 18, 2011 10:47am
Quoting vlady1974
Just read it. Thanks. I think I'm getting this bit. This ISN'T what I did when I got it wrong on my stupid long plays which I got done on.

Ta!

Decision time. Test of 4208 from the top would be textbook here.
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  • #423,362
  • Apr 18, 2011 10:48am Apr 18, 2011 10:48am
Cloggie.
your levels works a clock, Man


i wish i get there in one day.
cheers
  • #423,363
  • Apr 18, 2011 10:48am Apr 18, 2011 10:48am
Quoting Anis
Thanks cloggie for your response..i dunno how to use the trailing stops..have tried using it before but seems not working.. :>

Check with your broker, if they don't offer TS, then move ASAP.
  • #423,364
  • Apr 18, 2011 10:49am Apr 18, 2011 10:49am
Quoting audusd
i wish i get there in one day.
cheers
Sorry to burst your bubble, but that is never going to happen.
  • #423,365
  • Apr 18, 2011 10:49am Apr 18, 2011 10:49am
Quoting cloggie
Thanks for the donation.
Yo cloggie,

Wow u like donations? Are you a charity case?

I prefer making my own money.

Anyway as I mentioned still watching the 4h close. Seems might close above 4207, waiting for confirmation, if it doesn't hold I am out. Holding Long
  • #423,366
  • Apr 18, 2011 10:50am Apr 18, 2011 10:50am
Quoting cloggie
Instead of setting TP's, think about trailing your stop once you are happy with the result. That's my preferred method of covering, get some decent slippage in my favour too at times.
Interesting. I have always followed trades with my stops being the low/high of the last two bars (wrote a quick EA to handle this for me).

How much of a buffer do you usually set for your trailer?
  • #423,367
  • Apr 18, 2011 10:51am Apr 18, 2011 10:51am
Quoting cloggie
Decision time. Test of 4208 from the top would be textbook here.

See what I mean.
  • #423,368
  • Apr 18, 2011 10:51am Apr 18, 2011 10:51am
Quoting audusd
Cloggie.
your levels works a clock, Man


i wish i get there in one day.
cheers
In one day... do you mean 'some day'...?
  • #423,369
  • Apr 18, 2011 10:51am Apr 18, 2011 10:51am
Entered small short "sacrificial marker" at 4217. Will start getting real again around 4250.
  • #423,370
  • Apr 18, 2011 10:52am Apr 18, 2011 10:52am
Quoting Venice
Interesting. I have always followed trades with my stops being the low/high of the last two bars (wrote a quick EA to handle this for me).

How much of a buffer do you usually set for your trailer?

I never put a TS on, untill I am happy with what I got and the PA warrants it, then I trail it by 2 pips or so and let the market close me wherever she wants. Other then the occasional BE stop, I never use any.
  • #423,371
  • Apr 18, 2011 10:52am Apr 18, 2011 10:52am
Looking good - going nowhere....:
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  • #423,372
  • Apr 18, 2011 10:53am Apr 18, 2011 10:53am
Quoting cloggie
Decision time. Test of 4208 from the top would be textbook here.
Quoting cloggie
See what I mean.

To the tenth of a pip, now look back to where I did the play-by play around 4190 and start looking for exactly the same PA, barring any momentum bars.
  • #423,373
  • Apr 18, 2011 10:53am Apr 18, 2011 10:53am
Quoting cloggie
See what I mean.
Saw it. Gettin' da picture!
Got my limit at 222
A pip is only worth it if you know how much you risked to earn it
  • #423,374
  • Apr 18, 2011 10:54am Apr 18, 2011 10:54am
Quoting kenfen69
Cloggie's advice is good.

Mine: Get a new broker!
There are so many to choose from..mind save the time and money by giving a good suggestion..?
I'm learning to trust my own charts..
  • #423,375
  • Apr 18, 2011 10:56am Apr 18, 2011 10:56am
Quoting vlady1974
Saw it. Gettin' da picture!
Got my limit at 222

Keep doing that everyday and you will soon read the price pretty well. That's how I get out of cr@p trades within just a few pips.
  • #423,376
  • Apr 18, 2011 10:58am Apr 18, 2011 10:58am
s 4212 closed long for 49
those who can, do. those who cant, talk about those who can
  • #423,377
  • Apr 18, 2011 10:58am Apr 18, 2011 10:58am
Quoting Venice
In one day... do you mean 'some day'...?
that what i mean.
hopefully some day that not to far
  • #423,378
  • Apr 18, 2011 10:58am Apr 18, 2011 10:58am
Quoting cloggie
To the tenth of a pip, now look back to where I did the play-by play around 4190 and start looking for exactly the same PA, barring any momentum bars.
Good explanation cloggie,
How do you handle when you enter a momentum bar and the next min it goes U-turn? How many pips does your SL allow?
Make it rain baby
  • #423,379
  • Apr 18, 2011 10:59am Apr 18, 2011 10:59am
Quoting Anis
There are so many to choose from..mind save the time and money by giving a good suggestion..?

Here is a post I wrote on another thread, do your due dilligence:

http://www.forexfactory.com/showpost...0&postcount=41

Retailers spend less time on finding a broker then they do chasing the holy grail.



I am not going to recommend a broker as it entirely depends on your circumstances. Finding a broker that suits your trading style, is regulated in your domicile, or at least continent and offers the products that you are looking for takes time to find.

A good start is the CFTC capitalisation report to find the well financed ones, the next step is finding one that suits your trading style. Are you a scalper, a trend trader, a counter trend trader, all need different brokers/leverage/execution/spreads.

Get a report from one of the commercial providers as to their credit rating and company history and find ambiguities in there that could be of concern. Brokers with a PO box, or ones that move around should be questionable, brokers that use serviced offices or addresses similar to other service providers should be avoided like the plaque.

A broker giving good spreads may not always be the one for you if you get slipped at each and every trade.

IF you can live without MT4, you are better of finding a broker that allows you to at least execute via a different platform as MT4 has so much slippage build in purely due to design and infrastructure.

Your next step should be to speak to the regulator about them and find their enforcement history and their regulated postholders.

You then need to call them and try to visit them, do the same to their liquidity provider. A broker who will not tell you their liquidity provider has something to hide, walk away.

Once you find a broker you like, start small, keep an eye on latency, spreads, slippage and execution. Untill you get comfortable with them take a screen shot on each and every entry and exits and keep them for future references. Do that for a few months. Once you are comfortable with them increase your accountsize.

Always keep 2-3 seperate datafeeds live, just to keep an eye on their prices.

Picking a broker is a long and arduous exercise, but keep in mind that you will have a relationship with them for years to come.
  • #423,380
  • Apr 18, 2011 11:00am Apr 18, 2011 11:00am
will add at 76... still got the other levels as resistance also.......
those who can, do. those who cant, talk about those who can
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