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Simple Simon Balance Line Trading

  • #501
  • Jun 16, 2011 4:30am Jun 16, 2011 4:30am
Sorry I didn't see that you had replied to this. Scary how similar our answers are!

Quoting Titch
Hi Ibz

It does not matter what size lots you trade. That should be decided by your risk management rules. Ie the size of your account and the amount you want to risk. Normally between 2.5 - 5% of you equity.
  • #502
  • Jun 16, 2011 4:31am Jun 16, 2011 4:31am
EURGBP is coming on down!!
  • #503
  • Jun 16, 2011 4:34am Jun 16, 2011 4:34am
EURJPY Daily chart bounce trade is up 149 pips, just locked in 85 at 114.31
  • #504
  • Jun 16, 2011 4:35am Jun 16, 2011 4:35am
Approaching the 0.0 fib level and significant support. might bounce here.

Quoting Colostarr
EURJPY Daily chart bounce trade is up 149 pips, just locked in 85 at 114.31
  • #505
  • Jun 16, 2011 4:39am Jun 16, 2011 4:39am
Quoting Colostarr
EURJPY Daily chart bounce trade is up 149 pips, just locked in 85 at 114.31
I love trading the daily charts. A lot less stress.

I know what you mean. I think it and you say it. Scary!
Happy trading all. Titch
  • #506
  • Jun 16, 2011 4:43am Jun 16, 2011 4:43am
Not sure we will get the bounce. I reckon this might go in to consolidation for a while. Time will tell
Happy trading all. Titch
  • #507
  • Jun 16, 2011 4:57am Jun 16, 2011 4:57am
ooooor I think it and YOU say it

Quoting Titch
I love trading the daily charts. A lot less stress.

I know what you mean. I think it and you say it. Scary!
  • #508
  • Jun 16, 2011 4:59am Jun 16, 2011 4:59am
Triggered in at .87400 pyscho number. Now have 2 sell trades running on EURGBP.

1st trade from the daily cross
2nd trade from hourly bounce

Quoting Titch
Not sure we will get the bounce. I reckon this might go in to consolidation for a while. Time will tell
  • #509
  • Jun 16, 2011 4:59am Jun 16, 2011 4:59am
Hi Col

Thanks for youir efforts here, I've been following this thread for a few days now and have even won a few live trades with it, so I am optomistic. Can I just confirm where do you place your stop loss? Is it the high (or low) of the previous bar?

many thanks

GG
Now trading live
  • #510
  • Jun 16, 2011 5:02am Jun 16, 2011 5:02am
It's gonna bounce off that 0.0 fib. Locked in stop at 114.03 (113 pips). If it takes me out, it takes me out, I go out happy!

Quoting Titch
I love trading the daily charts. A lot less stress.

I know what you mean. I think it and you say it. Scary!
  • #511
  • Jun 16, 2011 5:04am Jun 16, 2011 5:04am
The answer simply put is YES. If you are buying you place your stop at the low of the signal candle, if you are selling you put your stop at the high of the signal candle (plus/minus the spread plus/minus 3 pips of course). See rules post #1

Quoting Gg33
Hi Col

Thanks for youir efforts here, I've been following this thread for a few days now and have even won a few live trades with it, so I am optomistic. Can I just confirm where do you place your stop loss? Is it the high (or low) of the previous bar?

many thanks

GG
  • #512
  • Jun 16, 2011 5:06am Jun 16, 2011 5:06am
Quoting Colostarr
Triggered in at .87400 pyscho number. Now have 2 sell trades running on EURGBP.

1st trade from the daily cross
2nd trade from hourly bounce
Mate this is scary. I have the same two trades on!
Happy trading all. Titch
  • #513
  • Jun 16, 2011 5:06am Jun 16, 2011 5:06am
Quoting southbeach
This strategy is good as it is with money management, stop loss, and you will be piping. I wish I sticked to this strategy the whole time, but patience is the key. 1000 pips in couple weeks is awsome. Keep it up.

By the way guys, STOP LOSS, don't forget about it no matter how confident you are. I forgot to place stop loss 3 hours ago, and I went out for an hour an half,and when I came back, I had a surprise -80 pips lol. the good thing it retraces and got half of it back.

Thanks Colostarr for helping and giving advices.

Regards,
Hi Southbeach,
at what pair and time is it?

Thank you
  • #514
  • Jun 16, 2011 5:11am Jun 16, 2011 5:11am
Quoting Titch
That depends if it is a buy or sell. Sell high. Buy low. Don't forget to add spread and a small amount of a buffer. Have a look on post 1. It explains it there.

Hope this helps
Sorry mate didn't realize you had answered this. Scary again!
Happy trading all. Titch
  • #515
  • Jun 16, 2011 5:28am Jun 16, 2011 5:28am
Just crossed but gone a long way. Might get a re trace and bounce in a few hours. The last few days it has been moving down but trying to push up. We may see a reversal here. Fingers crossed
Happy trading all. Titch
  • #516
  • Jun 16, 2011 5:37am Jun 16, 2011 5:37am
Anyone still in this trade hang in there. On the 15 min tf a flat bottom triangle is forming. We may see an explosion soon!
Happy trading all. Titch
  • #517
  • Jun 16, 2011 5:45am Jun 16, 2011 5:45am
Yes. Now it has crossed the blue line and 0.85 psy level as well. Let see how it close...

Quoting Titch
Anyone still in this trade hang in there. On the 15 min tf a flat bottom triangle is forming. We may see an explosion soon!
  • #518
  • Jun 16, 2011 5:53am Jun 16, 2011 5:53am
Hi Colostarr ,

Are U moving your EURGBP stop anytime ?


Cheers



Quoting Colostarr
Triggered in at .87400 pyscho number. Now have 2 sell trades running on EURGBP.

1st trade from the daily cross
2nd trade from hourly bounce
  • #519
  • Jun 16, 2011 6:00am Jun 16, 2011 6:00am
No, I am sitting on my hands until it goes into profit

Quoting Ibz
Hi Colostarr ,

Are U moving your EURGBP stop anytime ?


Cheers
  • #520
  • Jun 16, 2011 6:05am Jun 16, 2011 6:05am
EURJPY just stopped out at 114.03 +115 pips - THAT was a fun ride!
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