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Bread and Butter Trades

  • #241
  • Aug 11, 2011 1:45am Aug 11, 2011 1:45am
Quoting The7
Playing the break means catching the trade from the start. This is how most of us lose. It is safer to jump in after it starts, at least for me.
are you running the ea ?

or trading manually ?

which tp/sl do you apply ?
  • #242
  • Aug 11, 2011 2:41am Aug 11, 2011 2:41am
Hi The7,
do you think is best to enter just the price touches the Ema or when he gave a sign of reversal after a few pips?
Here you would be entered on black line or green?
thanks
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  • #243
  • Aug 11, 2011 8:34am Aug 11, 2011 8:34am
Quoting tarrini65
are you running the ea ?

or trading manually ?

which tp/sl do you apply ?
I am trading manually. Would never trade live with an EA.TP and SL is arbitary. I use 1 Atr as my SL.Enter with 2 lots, close 1 lot when price reaches my 1 ATR TP and let the second lot run till I feel. I get lot of BE trades but once I catch the big wave its 500-600 pips.
  • #244
  • Edited 11:41am Aug 11, 2011 8:36am | Edited 11:41am
Quoting Danyjoe
Hi The7,
do you think is best to enter just the price touches the Ema or when he gave a sign of reversal after a few pips?
Here you would be entered on black line or green?
thanks
I dont trade reversals Dany. Just because price changed direction does not mean we have a new trend. But again, see what fits best for you. I wouldnt take the E/N trade. One the spread is too high, second on your chart price has no direction.
  • #245
  • Edited 9:10am Aug 11, 2011 8:44am | Edited 9:10am
Entered short with touch of 50 Ema. Love to have a big wave before weekend.
Update 1: Before I enter a trade, I always make sure if there is a trend on the daily charts. there are different ways to to it. Checking the Daily Rsi and making sure it is not between the 45-55 levels is one way. My GU trade shows 44 Rsi, so we might bump into a range but who knows.
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  • #246
  • Aug 11, 2011 8:51am Aug 11, 2011 8:51am
You can call me insane to ask a question like this but: "No matter what system you use, why are short trades safer than long ones.?" I asked this questions to myself since I met the Forex market:-) Is it physics???
  • #247
  • Aug 11, 2011 10:55am Aug 11, 2011 10:55am
Quoting The7
Playing the break means catching the trade from the start. This is how most of us lose. It is safer to jump in after it starts, at least for me.

i would like to add the chance to take the break ( cross ) of the ema , so just the opposite...


i found that this one works great when markets are ranging , but losing when they are trending, there are always pips after ema cross...don' t you think ?
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  • #248
  • Aug 11, 2011 11:14am Aug 11, 2011 11:14am
Quoting The7
You can call me insane to ask a question like this but: "No matter what system you use, why are short trades safer than long ones.?" I asked this questions to myself since I met the Forex market:-) Is it physics???
Umm it's easier to fall than to climb? That's my best guess lol
  • #249
  • Aug 11, 2011 11:27am Aug 11, 2011 11:27am
Quoting The7
Entered short with touch of 50 Ema. Love to have a big wave before weekend.
Update 1: Before I enter a trade, I always make sure if there is a trend on the daily charts. there are different ways to to it. Checking the Daily Rsi and making sure it is not between the 45-55 levels is one way. My GU trade shows 44 Rsi, so we might bump into a range but who knows.
excuse my ignorance, 2 questions
how do I see the daily RSI?
how do you chosen in this chart the entry point and the SL?
thanks
  • #250
  • Aug 11, 2011 11:37am Aug 11, 2011 11:37am
Quoting Danyjoe
excuse my ignorance, 2 questions
how do I see the daily RSI?
how do you chosen in this chart the entry point and the SL?
thanks
Just put a Rsi on the daily chart, set levels to 44-55. If Rsi is between these levels it is said that price has no trend, so it is ranging. We want to stay away from those trades. My SL is based on 1xAtr.
  • #251
  • Aug 11, 2011 11:44am Aug 11, 2011 11:44am
Quoting The7
Just put a Rsi on the daily chart, set levels to 44-55. If Rsi is between these levels it is said that price has no trend, so it is ranging. We want to stay away from those trades. My SL is based on 1xAtr.
sorry but I am really newbie
RSI=Relative Strength Index??
period? 10?? close??

What is 1xAtr?
  • #252
  • Aug 11, 2011 11:47am Aug 11, 2011 11:47am
Quoting Danyjoe
sorry but I am really newbie
RSI=Relative Strength Index??
period? 10?? close??

What is 1xAtr?
Danny with all due respect I encourage you to go back to the basics before looking for any trading system. babypips.com is a good start. Thanks
  • #253
  • Aug 11, 2011 12:03pm Aug 11, 2011 12:03pm
Quoting The7
Danny with all due respect I encourage you to go back to the basics before looking for any trading system. babypips.com is a good start. Thanks
ok ok sorry you're right.
now i found it, I will make some attempt with periods
  • #254
  • Aug 11, 2011 12:11pm Aug 11, 2011 12:11pm
Quoting The7
You can call me insane to ask a question like this but: "No matter what system you use, why are short trades safer than long ones.?" I asked this questions to myself since I met the Forex market:-) Is it physics???
I guess, never had the feeling anyway

Thanks steve and ibuk for this wonderfull simple system. It is going for non-stop profit ever since i put the ea on a chart.
  • #255
  • Aug 11, 2011 12:33pm Aug 11, 2011 12:33pm
Quoting esquire
I guess, never had the feeling anyway

Thanks steve and ibuk for this wonderfull simple system. It is going for non-stop profit ever since i put the ea on a chart.

which are your settings ? tp and sl mainly
  • #256
  • Aug 11, 2011 12:44pm Aug 11, 2011 12:44pm
Quoting esquire
I guess, never had the feeling anyway

Thanks steve and ibuk for this wonderfull simple system. It is going for non-stop profit ever since i put the ea on a chart.
Hi esquire,

I tested the EA but took it off after a week as it was giving me consistent losses. How do you have yours set up?
  • #257
  • Aug 11, 2011 1:12pm Aug 11, 2011 1:12pm
Quoting acostafulano
Hi esquire,

I tested the EA but took it off after a week as it was giving me consistent losses. How do you have yours set up?
Just look at my test:

http://www.myfxbook.com/widget?id=14...=1&color=green

settings are TP=20 SL=100
  • #258
  • Aug 11, 2011 1:43pm Aug 11, 2011 1:43pm
Quoting Sgt.forex
Just look at my test:

http://www.myfxbook.com/widget?id=14...=1&color=green

settings are TP=20 SL=100
Same here, OOTB, force yourself not to look for one day and BAM!: profit

Also like the fact - in contrast with steve's other profitable ea's, that this one uses a stoploss and thereby doesn't force you into a moment where you have to decide wheter to hedge, recover etc. Just decide to take the trade or not - or also let the ea do that part -, then the manage part is already pretty much worked out for you. Although i think some trailing stop does have quite some potential here instead of a static tp, will look at that later.
  • #259
  • Aug 11, 2011 2:22pm Aug 11, 2011 2:22pm
@esquire
@Sgt.forex

Which EA version you use to get these impressive results and gains ? Any link to the post in this thread ? Or much easier it would be if you could post your EA/setfile ? I tried it but can't get good results so far ?
  • #260
  • Aug 11, 2011 3:09pm Aug 11, 2011 3:09pm
Quoting Sgt.forex
Just look at my test:

http://www.myfxbook.com/widget?id=14...=1&color=green

settings are TP=20 SL=100
@Sgt, esquire:

Please let me get this clear from your setup. As I mentioned, got nowhere near that performance:

- The EA is the one currently on post 1?

-Is this performance OOTB, only changing TP:20 SL:100??,

-everything else (all the default pairs, and H1,H4 and D1 Tf's) unchanged from OOTB?

Please let me get this clear so I can set up a couple of demos and from there start tweaking and testing myself,

Thanks
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