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Simple Simon Balance Line Trading

  • #1,261
  • Jun 24, 2011 5:17am Jun 24, 2011 5:17am
Quoting Thu
got u fischy
Nice one!
Happy trading all. Titch
  • #1,262
  • Jun 24, 2011 5:38am Jun 24, 2011 5:38am
the euro bounced back to where it was earlier lol. This is halirious! 100 pip candle going up and 100 going down.
  • #1,263
  • Jun 24, 2011 5:47am Jun 24, 2011 5:47am
EU short triggered on M15
  • #1,264
  • Jun 24, 2011 5:48am Jun 24, 2011 5:48am
The balance line is flat for both EURUSD and GBPUSD on 1H charts, so I'm ignoring them until there is a breakout and then a retracement back to the balance line that bounces rather than crosses. USDCAD is currently doing this.

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  • #1,265
  • Jun 24, 2011 5:51am Jun 24, 2011 5:51am
Quoting handy148
EU short triggered on M15
I just scalped that as well
Happy trading all. Titch
  • #1,266
  • Jun 24, 2011 5:53am Jun 24, 2011 5:53am
Quoting frollollc
The balance line is flat for both EURUSD and GBPUSD on 1H charts, so I'm ignoring them until there is a breakout and then a retracement back to the balance line that bounces rather than crosses. USDCAD is currently doing this.

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If you are conservative trader that is a great way to apply this. Waiting for the bounce.
Happy trading all. Titch
  • #1,267
  • Jun 24, 2011 6:12am Jun 24, 2011 6:12am
Teasing me! Come on and break yesterdays high!
Happy trading all. Titch
  • #1,268
  • Jun 24, 2011 6:18am Jun 24, 2011 6:18am
the way EU is pushing up it probably won't
  • #1,269
  • Jun 24, 2011 6:22am Jun 24, 2011 6:22am
50 MA a barrier for EU at the moment
  • #1,270
  • Jun 24, 2011 6:23am Jun 24, 2011 6:23am
Quoting handy148
the way EU is pushing up it probably won't
I have cleared out most of the position and left a small portion in. Was just hoping really, trying to squeeze every last pip. Thanks for the observation, well spotted.

Thanks
Happy trading all. Titch
  • #1,271
  • Jun 24, 2011 7:22am Jun 24, 2011 7:22am
maybe a bit risky before news from usa
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  • #1,272
  • Jun 24, 2011 7:28am Jun 24, 2011 7:28am
Quoting Titch
I have cleared out most of the position and left a small portion in. Was just hoping really, trying to squeeze every last pip. Thanks for the observation, well spotted.

Thanks
That's very good practice to clear up your positions. news are coming up within few minutes

Goodluck everybody
  • #1,273
  • Jun 24, 2011 7:33am Jun 24, 2011 7:33am
Quoting Thu
maybe a bit risky before news from usa
Totally agree. I would hang fire just to be cautious.
Happy trading all. Titch
  • #1,274
  • Jun 24, 2011 8:11am Jun 24, 2011 8:11am
Thats me done for the day. Off to play golf!
Have a great afternoon everyone.
Catch you all later.
Happy trading all. Titch
  • #1,275
  • Jun 24, 2011 8:13am Jun 24, 2011 8:13am
would you hold trades over weekend with this system?
  • #1,276
  • Edited 4:11pm Jun 24, 2011 8:32am | Edited 4:11pm
Quoting Thu
would you hold trades over weekend with this system?
It's up to you but my advice would always be no. I have been caught out before, if the position you are in gaps you can see any profits disappear as well as be stopped out. As I say it's up to you but the only positions I keep open over the weekend are my long term trades.

Just my opinion though

I hope this helps
Happy trading all. Titch
  • #1,277
  • Jun 24, 2011 9:01am Jun 24, 2011 9:01am
I concur with maestro Titch - if you do you need big cohones and they should be made of steel
  • #1,278
  • Jun 24, 2011 9:25am Jun 24, 2011 9:25am
eurusd short triggered - 1hr
  • #1,279
  • Jun 24, 2011 9:47am Jun 24, 2011 9:47am
Quoting pipdude
eurusd short triggered - 1hr
Excuse me ... according to which rule ? Balance Line Trading 1 H ? At what time ? Your posting is at 16:25 GMT + 1 .. at that time we are miles away from the balance line, aren't we ?
  • #1,280
  • Jun 24, 2011 10:35am Jun 24, 2011 10:35am
Quoting pipdude
eurusd short triggered - 1hr
If I'm not mistaken, for a trade entry to be valid, the trade must trigger on the very next bar. If it does not, then the trade is invalidated. So, no entry in this case. Also, the balance line is flat and far away, so no entry IMO.

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