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Simple Simon Balance Line Trading

  • #961
  • Jun 21, 2011 11:03pm Jun 21, 2011 11:03pm
EU long triggered on M15
  • #962
  • Jun 21, 2011 11:08pm Jun 21, 2011 11:08pm
Quoting Colostarr
I`m telling you the HP Envy series, specifically the 14.5" model is one of the most stunning laptops that HP has ever made. Up until I found the one I have, I always HATED HP products. This is what EVERY Macbook Pro owner is looking for.

None of the limitations of a Macbook, yet all of the performance of the Macbook

http://www.engadget.com/2010/08/03/hp-envy-14-review/
In the end is not about the hardware itself. Every major brand have similar products at competitive prices. For the same specs non-apple stuff is and will be always cheaper.

What matters is the OS and the software available. OsX is a great piece of software. I really like it. But the price to have hyped bite apple logo is too much


So in the end it all about choices. For forex unfortunately Windows is the way to go.


btw, I use linux (arch).

Jorge
  • #963
  • Jun 21, 2011 11:19pm Jun 21, 2011 11:19pm
I have noticed that when the hourly charts go to sleep, your best opportunity to get into a move may be from the 15TF. My opinion only of course

I saw this setup and HAD to take it.

Like Titch on Monday, if you can into these early enough from the Daily candle formation standpoint, you may well find yourself riding the daily bias wave. We shall see here!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 29 KB
  • #964
  • Jun 21, 2011 11:20pm Jun 21, 2011 11:20pm
Hi,

Two questions:

1.- I'm using MPTM to put BE+3 at 10 pips and TP at 40pips. My last 6 trades are closed on BE. Maybe it's better to close all trades at 15-20pips and not be greedy?.

2.- On E/U H1 five cadles ago I see a rebound. It's good idea put a buystop and Stoploss on that candle?

Thanks from a rookie trader.
AdAt
  • #965
  • Jun 21, 2011 11:22pm Jun 21, 2011 11:22pm
Ok maybe I should have re-phrased. this HP is a great laptop for your AVERAGE user! Linux is too boo-koo for me!

Quoting kook
In the end is not about the hardware itself. Every major brand have similar products at competitive prices. For the same specs non-apple stuff is and will be always cheaper.

What matters is the OS and the software available. OsX is a great piece of software. I really like it. But the price to have hyped bite apple logo is too much


So in the end it all about choices. For forex unfortunately Windows is the way to go.


btw, I use linux (arch).

Jorge
  • #966
  • Jun 21, 2011 11:32pm Jun 21, 2011 11:32pm
AdAt,
Welcome to the thread. First of all an entry at +10 pips is a little outside what I would be comfortable with. You might consider changing brokers if they have wide spreads.

Second thing is - there is NO TP level with this method. The intention is catch a wave and ride it, up or down incrementally moving your stops to the previous candles high/low, squeezing every drop out of a move.

Some moves may only result in 15 pips (especially if you enter from lower tf`s), so placing a TP might be contradictory to making money.

For purposes of this method, use your stop loss level as your TP. Move your stop until it gets to a level you are comfortable with and just let it be.

For me - this level is 20 pips. Once I have locked in 20 pips on a move I sit on my hands and let the trade progress.

You`ll be surprised at how many times this can result in capturing 50 - 100 pip waves in your favor.

Hope this answers your question.

Quoting adat
Hi,

Two questions:

1.- I'm using MPTM to put BE+3 at 10 pips and TP at 40pips. My last 6 trades are closed on BE. Maybe it's better to close all trades at 15-20pips and not be greedy?.

2.- five cadles ago I see a rebound. It's good idea put a buystop and Stoploss on that candle?

Thanks from a rookie trader.
AdAt
  • #967
  • Jun 21, 2011 11:35pm Jun 21, 2011 11:35pm
Quoting Colostarr
I have noticed that when the hourly charts go to sleep, your best opportunity to get into a move may be from the 15TF. My opinion only of course

I saw this setup and HAD to take it.

Like Titch on Monday, if you can into these early enough from the Daily candle formation standpoint, you may well find yourself riding the daily bias wave. We shall see here!
Nice trade Colostarr so the red line is the 50 ema set at high? if it crosses our blue line from below it would be considered as bullish? just checking if that's how u get the extra bit of confirmation....thanks....and I totally understand the daily bias bit as the saying goes "go with the trend".....all the very best with this trade my friend
Raza
  • #968
  • Jun 21, 2011 11:38pm Jun 21, 2011 11:38pm
Stop now moved to BE 1.4392 no risk in the trade.

USDCAD and AUDUSD also triggered from the 15tf

Quoting Colostarr
I have noticed that when the hourly charts go to sleep, your best opportunity to get into a move may be from the 15TF. My opinion only of course

I saw this setup and HAD to take it.

Like Titch on Monday, if you can into these early enough from the Daily candle formation standpoint, you may well find yourself riding the daily bias wave. We shall see here!
  • #969
  • Jun 21, 2011 11:40pm Jun 21, 2011 11:40pm
To be honest with you I am new to the 50EMA. Titch is more the expert here than I am, but yes from what I have seen when your cross or bounce of the blue line coincides with the 50 EMA at the same level, it generally means a change in bias on that TF.

Quoting shr5
Nice trade Colostarr so the red line is the 50 ema set at high? if it crosses our blue line from below it would be considered as bullish? just checking if that's how u get the extra bit of confirmation....thanks....and I totally understand the daily bias bit as the saying goes "go with the trend".....all the very best with this trade my friend
  • #970
  • Jun 21, 2011 11:44pm Jun 21, 2011 11:44pm
Trade currently at +26 stop is BE, will see what next candle brings before I lock in +20
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #971
  • Jun 21, 2011 11:46pm Jun 21, 2011 11:46pm
triggered long EU on H1 also - fully agree re M15 Colo. Usually I just play M15 for a 10 point scalp or so but sometimes it just keeps on truckin.
  • #972
  • Jun 21, 2011 11:47pm Jun 21, 2011 11:47pm
AUDUSD Moved to BE Getting close to resistance - risk removed
USDCAD cloed on my own - I hate over trading +5 pips

EURUSD: Locked 10 pips, dont like how the last candle looked
  • #973
  • Jun 21, 2011 11:50pm Jun 21, 2011 11:50pm
EU Might get a little bumpy, Daily candle has just touched the Blue line from below

Quoting handy148
triggered long EU on H1 also - fully agree re M15 Colo. Usually I just play M15 for a 10 point scalp or so but sometimes it just keeps on truckin.
  • #974
  • Jun 21, 2011 11:50pm Jun 21, 2011 11:50pm
Quoting Colostarr
To be honest with you I am new to the 50EMA. Titch is more the expert here than I am, but yes from what I have seen when your cross or bounce of the blue line coincides with the 50 EMA at the same level, it generally means a change in bias on that TF.
Thanks for the prompt reply....i'll keep this in mind and would try to check with Titch when he pops in
Raza
  • #975
  • Jun 21, 2011 11:51pm Jun 21, 2011 11:51pm
We're now entering the 'funny' timeframe as London opens, I notice that prices often tend to jump around in order to shake out the stops before the true direction resumes
Now trading live
  • #976
  • Jun 21, 2011 11:55pm Jun 21, 2011 11:55pm
Let em shake out the stops - 2 trades open 1 at BE 1 at +10

For the record, I don't like "stop hunters" conversations here!


Quoting Gg33
We're now entering the 'funny' timeframe as London opens, I notice that prices often tend to jump around in order to shake out the stops before the true direction resumes
  • #977
  • Jun 21, 2011 11:57pm Jun 21, 2011 11:57pm
EURUSD stopped at +10 will look to re-enter if price dips below original entry point.

AUDUSD stopped BE
  • #978
  • Jun 22, 2011 12:12am Jun 22, 2011 12:12am
Quoting danbuttigieg
Can you post a screenshot with your entry / SL ?
I moved it too breakeven basically. But you can see where I entered. I put my stop at 1.6197.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd current.gif Size: 24 KB
  • #979
  • Jun 22, 2011 12:15am Jun 22, 2011 12:15am
as i was posting got stopped out but Colo said he would have passed due to it being so close to resistance. I brokeven so lesson learned but still on the right side. Feel good. Should of took it when it hit the resistance line and would of made about 25 pips. Oh well got a little greedy I guess.
  • #980
  • Jun 22, 2011 12:16am Jun 22, 2011 12:16am
USDJPY is approaching the Blue line nicely
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