DislikedYes, after reading Chantals post and looking at the charts I suddenly understood your strategy - and it is a most impressive one....Ignored
European Champion ... EuroBasket (AND Futboll)
thanks friend... but the strategy is not mine....
All credit goes to chantalb
Of course. Which pairs do you trade the system on? Also how do you deal with moving the SL during the trade please? Do you move to BE after a certain number of pips, and then just wait for a triangle in the opposite direction, or do you trail the stop somehow? I notice you mention something about using TSL on the 4hr - is this how you do it?
- #654
- Sep 21, 2011 8:11am Sep 21, 2011 8:11am
gbp-jpy... will be a potential buy but it is still soon friend ... wait a few days.
I don´t know about Japan but has a terrible power for a time ... Governmental intrvencion clear imagine.
you can look to buy ...eur-cad--- gbp-cad----nzd.usd...
I was already looking at EURCAD at double bottom. The lows are close but 16 pips apart, and some historical support at 1.3600. But it's not a "by the book" PP, so I didn't enter. I'll watch, maybe enter if another opportunity shows up.
I wasn't even watching GBPCAD. That's a nice PP formation! but I'm a little late to enter now.
I have never considered pairs with spreads over about 3-4 pips because I always looked at M15 charts. I'll have to watch more pairs. I think this method allows more pairs as possibilities because on large TF the spread is not so big a deal. I like it so far!
Luck occurs when preparation meets with opportunity.
- #656
- Sep 21, 2011 8:57am Sep 21, 2011 8:57am
No I am not… Check higher tfs and you’ll know why.
Thanks for that heads-up!I'm trading a $100 micro account, and I'm setting my trade size so SL is always $1 no matter how many pips. I'm shooting for 1:2 or 1:3 RR right now, too.
This is much better than trading demo because I HATE to lose real money, even a few pennies! So I felt terrible when you pointed out that I neglected to check the higher TF. This is training my emotions for when my account grows into real money!
Thank you for your teaching! And Portfirio, too!
AF
Luck occurs when preparation meets with opportunity.
- #657
- Sep 21, 2011 9:09am Sep 21, 2011 9:09am
Wow, you are right, and I had not checked weekly TF!
Glad to help
- #658
- Sep 21, 2011 11:06am Sep 21, 2011 11:06am
EC trade is up 92 pips. I'm going to trail my SL at the low of previous M15 candle. 
Yes, I'm too chicken to hold on! But this way I won't lose money, and I won't let a winner turn into a loser. With my luck it would retrace all the way back to BE!
I would rather be a little right than completely wrong.
Anyway, the way it's ranging on higher TFs, I think it should head up to 1.4000. But if I get stopped out I'll wait for another retrace to enter long again.
Yes, I'm too chicken to hold on! But this way I won't lose money, and I won't let a winner turn into a loser. With my luck it would retrace all the way back to BE!
I would rather be a little right than completely wrong.Anyway, the way it's ranging on higher TFs, I think it should head up to 1.4000. But if I get stopped out I'll wait for another retrace to enter long again.
Luck occurs when preparation meets with opportunity.
- #659
- Sep 21, 2011 11:17am Sep 21, 2011 11:17am
Stay in it and let it either take out your SL or reach TP... no one really knows what can happen. But just in order to have more odds stacked on your side it is your duty to check on everything. Once all checks out and you are in a trade and you get stopped, you'll know that you did all you could. You then move on while maybe having learned something from that failed trade.
Glad to help
I got a bad entry but it's up about 50 pips now. I had a big SL so it's small $$ and too small RR.If it slows down very much I'll jump out, otherwise I'll hang on until 1.2550 or 1.2600, depending on momentum.
Luck occurs when preparation meets with opportunity.
