Trap 2: Big winner ( +43 pips )
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- #591
- Oct 10, 2011 6:23am Oct 10, 2011 6:23am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
There is. You allways wait for the retrace by RAZ method.
If not, u are playing breakout ( that I'm testing right now)
Anyway, trade 6: No entry again.
nope. cant see it anywhere. read the rules as per what raz has stated, no mention of retrace. perhaps you could point out where raz shows this ?
or is it something you have come up with yourself ?
- #594
- Oct 10, 2011 6:45am Oct 10, 2011 6:45am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
the success rate increases dramatically if you do this:
if the break of the trap is by 5-6 pips or more, then it is good to go. you may enter and it is more likely to profit.
if the break is by say only 1-4 pips, and then price retraces, the trade is highly likely to fail. do not enter.
even if the break is by 5-6 pips, it is best to enter with half your original position. if price retraces, then you can enter with other half at a better price.
bottom line: wait for a break of 5-6 pips, enter with half position, re-enter with other half if price moves against you , at a better price.
you will see your losses will be minimised
happy pipping to all....
if the break of the trap is by 5-6 pips or more, then it is good to go. you may enter and it is more likely to profit.
if the break is by say only 1-4 pips, and then price retraces, the trade is highly likely to fail. do not enter.
even if the break is by 5-6 pips, it is best to enter with half your original position. if price retraces, then you can enter with other half at a better price.
bottom line: wait for a break of 5-6 pips, enter with half position, re-enter with other half if price moves against you , at a better price.
you will see your losses will be minimised
happy pipping to all....
- #595
- Oct 10, 2011 7:53am Oct 10, 2011 7:53am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
- #596
- Oct 10, 2011 7:56am Oct 10, 2011 7:56am
Guys, I don't want to argue, but all this "retrace" stuff and "counting 1-5 pips" and "waiting for the perfect V" works 50/50 or even worse than 50/50, because it also filters out some very good trades. raz gave us all the rules in his first post.
forexforex trades very successfully checking with H-1 trend and PA, and it is the best way IMHO. At any case, if you trade in the H-1 direction, your chances are much better with any system.
