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it's a very long CZ (although not very "pure") so if we finally get some decent movement might be a substantial fall. My plan is to scale-in with nano-lots and break-even's.
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nice sell off on gbp
Trade responsiblypatience is the key/Swing trader
nice long and thin CZ. should do well. Stop at BE.
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Quoting forexhard
...
FH why did you pull out of your trade here? Cannot see that the PA was stalling in any way. just curious. It's a trade you posed a while back.
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I can do a lot of things, but I confess I'm not a very good mind reader.

Which post are you referring to?
To improve is to change. To perfect, is to change often.
Hi FH..

In cgldsmth's last post, just click on the arrow icon at the end of "Originally Posted by forexhard" to take you to your post.

BTW, he's referring to Post 487.


Quoting forexhard
I can do a lot of things, but I confess I'm not a very good mind reader.

Which post are you referring to?
I'm not trying to convince anyone. I'm not in the "convincing" business.
Quoting cgldsmth
it's a very long CZ (although not very "pure") so if we finally get some decent movement might be a substantial fall. My plan is to scale-in with nano-lots and break-even's.
Hi cgldsmth. Would you mind expanding on how you scale in to your trades. I am trying to do the same but I am pretty much a beginner at this and would appreciate another view.

At this point i am placing a trade of say .2 and when it breaks and goes approx 30 pips i then set another at .1 and then another 10 further at .1 and so on trying to leave approx 20 pip room for a retrace. Did one last week with .5 with 40 pip stop so the risk was $200.
Kept adding .2 every 15 pips the trade went my way. added 3 times and up making $700 from an 80 pip move using broker money of coarse. Great risk reward

Cheers Steve
Took my first trade using this strategy on EU and it was a winner!

Thanks Forexhard for your efforts to take us through this strategy. Hope for many more good trades to come!
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Possible "Short Move Break".....

http://i600.photobucket.com/albums/t...ingCZsonGU.jpg
The Markets just don't care what U believe...
Quoting brisvagus
Hi cgldsmth. Would you mind expanding on how you scale in to your trades. I am trying to do the same but I am pretty much a beginner at this and would appreciate another view.

Cheers Steve
basically placing sell stops below each fib (reverse for buy) and setting each profitable trade to BE+1 when price has progressed another fib-level.
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Thanks for your thoughts.

Im probably a little over zeolous with my entries.

Steve
You learn something new every day. Thanks for the tip.

cgldsmth, I don't believe it's possible to ever predict what price will do any better than flipping a coin. Not ever. Not under any circumstances at all. At least not as far as a tiny retail trader like us is concerned. My entire trading philosophy is based on this premise. So to answer your question, I don't waste my time trying to read candles (or Fibs, or Stochs, or RSI's, or MM lines, or....) I just look for my CZ and trade the breakout, and then sit back and wait for a reset.

So easy it's hard...
To improve is to change. To perfect, is to change often.
Quoting forexhard
You learn something new every day. Thanks for the tip.

cgldsmth, I don't believe it's possible to ever predict what price will do any better than flipping a coin. Not ever. Not under any circumstances at all. At least not as far as a tiny retail trader like us is concerned. My entire trading philosophy is based on this premise. So to answer your question, I don't waste my time trying to read candles (or Fibs, or Stochs, or RSI's, or MM lines, or....) I just look for my CZ and trade the breakout, and then sit back and wait for a reset.

[i][b]So...
quite, and I agree.

But I am a firm believer in letting profits run, and as a trend-trader, scaling-in is ingrained.

I am still unsure on your exit strategy, but realise that for you it's an art from having put in a lot of screen-time.

regards
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Not saying you are wrong or that I am right. To each his own. But here's a fun little pic from this week already that I hope supports my philosophy just a little. Enjoy...
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To improve is to change. To perfect, is to change often.
Quoting forexhard
Not saying you are wrong or that I am right. To each his own. But here's a fun little pic from this week already that I hope supports my philosophy just a little. Enjoy...
excellent. like it
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of course, a simpler TP level would be the average number provided by the indi in the top right hand corner, but this number is taken from the buffer zone, and so is larger than it should be.
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Quoting cgldsmth
of course, a simpler TP level would be the average number provided by the indi in the top right hand corner, but this number is taken from the buffer zone, and so is larger than it should be.
Not sure I follow. Wouldn't it be smaller? No buffer line would give a larger number, right?
To improve is to change. To perfect, is to change often.
with this chart just for example, the 7 pips is the distance from the buffer line to the bottom of the candle printing the lowest price. I assume therefore that the upper right hand summary display takes these values, not what would be the actual entries (2 consecutive closes BELOW buffer line).
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short cable just triggered, BARELy obeying the rules, but a nice CZ allthesame.
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Quoting cgldsmth
short cable just triggered, BARELy obeying the rules, but a nice CZ allthesame.
Yup, that's a 2-candle close in my book. Again, and not to beat a dead horse tonight, but candle size and/or pattern's do not matter to this system. The CZ breakout is everything.
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To improve is to change. To perfect, is to change often.
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