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Simple Simon Balance Line Trading

  • #2,061
  • Jul 11, 2011 4:58pm Jul 11, 2011 4:58pm
Quoting mfinab
Hi Guys,

Here is the pending order that as been triggered this morning on USD JPY

SL at BE +20
Hi mfinab, out of curiosity, was the previous bar to your entry bar a touch (of the BL) too?
  • #2,062
  • Jul 11, 2011 5:17pm Jul 11, 2011 5:17pm
Quoting Titch
Hi Mfinab,

Your stop is in the right place for the bar you are trading my only concerns would be it is a large bearish bar meaning the stop would be quite large on entry especially as you are on the 4hr chart. Also as you say the 50 is looking like it will lay flat. I would probably wait for the next bar to close to see what happened. I suspect it may be going in to a range.
Just my opinion though
I hope this helps
Hi Titch,
thanks for your comment.

Mfinab,
  • #2,063
  • Jul 11, 2011 5:21pm Jul 11, 2011 5:21pm
Quoting sidefx
Hi mfinab, out of curiosity, was the previous bar to your entry bar a touch (of the BL) too?
Hi Sidefx,

I took the trade (pending order) at the bottom of the candle that as already touched the BL.

I dont know if I have answered correctly.. sorry, english is not may native language

Mfinab,
  • #2,064
  • Jul 11, 2011 5:22pm Jul 11, 2011 5:22pm
Trade on USD JPY done .... look at the first post if you want to see chart +35Pips

http://www.forexfactory.com/showthre...55#post4769255

Mfinab,
  • #2,065
  • Jul 11, 2011 5:29pm Jul 11, 2011 5:29pm
Quoting mfinab
Hi Sidefx,

I took the trade (pending order) at the bottom of the candle that as already touched the BL.

I dont know if I have answered correctly.. sorry, english is not may native language

Mfinab,
No worries - just looked at my FXPro MT4 UJ chart and price didn't make it to the BL in any case Glad you snagged the pips.
Attached Image (click to enlarge)
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  • #2,066
  • Jul 11, 2011 5:55pm Jul 11, 2011 5:55pm
Wondering what settings you are using for your balance line Mfinab? Didn't hit the balance line on my chart either...

Quoting sidefx
No worries - just looked at my FXPro MT4 UJ chart and price didn't make it to the BL in any case Glad you snagged the pips.
Attached Image (click to enlarge)
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  • #2,067
  • Jul 11, 2011 9:00pm Jul 11, 2011 9:00pm
eurusd short entry on 15m
  • #2,068
  • Jul 12, 2011 4:51am Jul 12, 2011 4:51am
Hi Guys

I left a trade opened yesterday on a 1H chart and the trade came flat. I let it there while I was sleeping, woke up in the night and saw a +36 pips already. I moved my SL at BE+10 and went back to bed.

Woke up this morning with a +60 after being at +120 before... it was moving up against me. I closed the trade at +40. This is better than nothing

Have a look on the chart.

Mfinab,
Attached Image (click to enlarge)
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  • #2,069
  • Edited 5:07am Jul 12, 2011 4:57am | Edited 5:07am
Quoting paqtrade
Wondering what settings you are using for your balance line Mfinab? Didn't hit the balance line on my chart either...
Hi Sidefx and paqtrade,

Here is a image of my indicators in my charts. Maybe it can help you. I really don't know how come you don't have the same thing.

Mfinab,
Attached Image (click to enlarge)
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  • #2,070
  • Jul 12, 2011 5:11am Jul 12, 2011 5:11am
Quoting mfinab
Hi Sidefx and paqtrade,

Here is a image of my indicators in my charts. Maybe it can help you. I really don't know how come you don't have the same thing.

Mfinab,
ah, the template i'm using has the Alligator indi. I'll look in the attachments for the one you're using, will be interesting to compare the two. Thanks and nice trading this morning
  • #2,071
  • Jul 12, 2011 5:18am Jul 12, 2011 5:18am
Hi SideFx,

There is not a lot of opportunity on 1H chart right now.... let's wait a little...

Mfinab,
  • #2,072
  • Jul 12, 2011 5:21am Jul 12, 2011 5:21am
Quoting mfinab
Hi SideFx,

There is not a lot of opportunity on 1H chart right now.... let's wait a little...

Mfinab,
Yes, i trade the 15min from the UK and most of the entries today were early Asian session, so sitting on hands so far.
  • #2,073
  • Jul 12, 2011 5:26am Jul 12, 2011 5:26am
Quoting sidefx
ah, the template i'm using has the Alligator indi. I'll look in the attachments for the one you're using, will be interesting to compare the two.
...loaded the !SS indi and no difference to Alligator, so the difference is down to our MT4 feeds.
  • #2,074
  • Jul 12, 2011 6:38am Jul 12, 2011 6:38am
Hi guys,

I looked at this indicator .... There is no trade possible on 1H chart.
I'm trying 15m chart for a trade but not as good as 1H.

Mfinab,
Attached Image (click to enlarge)
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  • #2,075
  • Jul 12, 2011 8:56am Jul 12, 2011 8:56am
Hi All

Short opportunity 1hr chart USDCAD ?
  • #2,076
  • Jul 12, 2011 9:37am Jul 12, 2011 9:37am
Quoting Titch
Hi Good Looking,

You could move up timeframes as long as you equity would allow it. Work out what an average candle is on the higher timeframe for the pair you are looking to trade. Then you can calculate what the risk amount is likely to be as a percentage of you equity. It should always be the risk factor to your equity that you are willing to risk that determines what timeframe you should trade.

I hope this helps
Thanks. I actually created an excel sheet that shows how many lots to use based on the amount of pips for the stop. So at anytime i have a little bit less than 5% risk on a trade. I think this has saved my butt more than anything else i've used.
  • #2,077
  • Jul 12, 2011 9:54am Jul 12, 2011 9:54am
Quoting Good Lookin
Thanks. I actually created an excel sheet that shows how many lots to use based on the amount of pips for the stop. So at anytime i have a little bit less than 5% risk on a trade. I think this has saved my butt more than anything else i've used.
Hi Good Looking

That is a great idea! I like it!
Happy trading all. Titch
  • #2,078
  • Jul 12, 2011 10:29am Jul 12, 2011 10:29am
Just took this live trade. See how it goes.
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  • #2,079
  • Jul 12, 2011 11:02am Jul 12, 2011 11:02am
Heads up - someone may have loaded a virus on this forum . My system has blocked it and warned me . Came up when I opened 1st page
  • #2,080
  • Jul 12, 2011 4:58pm Jul 12, 2011 4:58pm
Same thing happened to me. Luckily, it was blocked...

Jerry

Quoting steel777
Heads up - someone may have loaded a virus on this forum . My system has blocked it and warned me . Came up when I opened 1st page
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