PRICE Accordingly

no real reason behind it.. i just set it a bit beyond the LL in case if it had ran and if i was not monitoring I would get 30 out of it.

out for +8 on eu... still holding the au

are you still in trade or got out

short cable

sl hit on au..

P D

Are your settings for the TMA x1_Period 35 ?

no.. its the default 56..

Thanks

out +11.

I read pages and want to say thanks,

First i think this is same gambling!!! Also as you set your stop high and wait to sl!

Anyway some way it is good but risky!!! Some times it is broke my fibo rules!!!

SHIT FOREX!

At time, what is the band of EU? Strike, or mild or range?

Hello!

I would say that PA is giving clues of a move up (HL and HH), so possible entries in the short term would be a DT o 3rfct for a short, or SMBT for a long.


Best regards!!!

I recommend for you to stick to a daily job.. lol

I think you will find that the bands will concur with fib levels more often than you might think. Try it....

Why? OK!

Also, which post i can found the exact details of dt, rfc, smt...!?

ok, how about.. post 1 to post 1954.

..by the way, if you find anything on "smt", do me a favor and fill me in on it.. thx

Hey, Dean !
How many trades do you made today ?
btw in the aud smbt short trade will be better to went out on be rather than getting your sl hit - 25 as I see... This trade went about 6 pips in your way but than went up straight ! hmm I really like your system must say...
But for those situations when price reverse like in this I think we should make some kind of insurance... so in this case better be out on be... should be the best choise ... what do you think?
Please inform us daily of your trades results.

Thanks!

Hello everyone,

let's roll baby.. I see slight euro strength inside 50-70 daily range and band looking upward a bit.. so with that in mind we ambush patiently to see what happens and what fits.


I begin now to answer Luis about my yesterdays au trade.. you all might find my reply interesting and useful.

Hi Luis,

I made a few trades and end up with a +32.. but sometimes i need to concentrate more and find no time to post trades live in timely manner.
I personally do not like to show trades that i can not live play.. but if you guys like, at end of each day i will show all my trades.. its not a problem.

ok.. about the au trade sl hit..
first of all, in my opinion the risk that we/I take whether making a entry or letting a trade to be for a certain exit is and should be based on ones skill ability... my ability gives me the confidence to risk even get hit for a -25 sl and at end of the day yet to still come out ahead or bring myself back to breakeven point or at least to not collapse for the day and go down for a deeper end result.

now technically speaking..
I agree about cutting the loss short or BE it on such a reverse..
but how you do that is a key issue that i see its necessary for me to touch on..
if i react quickly to every little 5minute candle move that PA makes.. then i will be trading on my toes at all times and going crazy, bcz, PA could have just as easily made a U turn in the direction right after my BE exit upon the engulfing first bullish candle in that particular au trade, so then i would have be sitting in the side line and beat myself up for premature exit.
so.. the way i do it.. i give the PA a reasonable time to and not to react so quick on its every move.. so i entered, it went 5 pips in my favor then turned around and went straight up to hit my sl.. so the first reverse action against my trade was with no hesitation or a slight chance of return to BE or near my entry point so i could make a preserving exit for better loss.

so in more or less words.. i stay a bit patience and let it develop rather than a quick exit (if i make quick premature exits i could well sit with four 5 pips losses and missed opportunities that i was in it but not capitalized).. if it goes against me, i give it a chance to resume between my entry and sl and measure the strength of the resume to either 1) keep the trade alive and going or, 2) to accept the smaller loss and bail, but i give it that chance.
sure i do get hit for hard sl for time to time but i also get many winners off of such strategy and i keep myself from trading on my toes at all times, it saves psychological damages during a session of trading.

now since the overall hit ratio in my trading style is in my favor and my skill ability for timely profitable exit at the band or LL/HH reaction is reasonable if not great.. this kind of risk taking and exit strategy that i talked about above works like a charm.

I know i have not talked about exit much in this thread.. but there is a reason for it.. as you see and read above there are many personal factors involved for a exit decision making, which each and every Trader must figure it out on his own based on all those personal factor, to mention a few: risk tolerant, financial backing, MM, attitude, confidence, diligence, skill ability, technical awareness.. and etc,.. and only you and you know the answer to all this and based on that you can set your exit strategy.

I do have given a basic frame work.. but to go in depth one needs to figure the above out for oneself.
in this one important post i tried to poing-point the important points and to be as honest as i could be and not to just blow smoke.


I hope it helps you guys out.


...now i show you guys two charts of my two trades from yesterday which should explain my exit strategy in the time of reverse..

one is the AU sl hit.. and other is the eu winner.. as you all see i applied the same strategy, one hit the sl one did not.. but 3/4 of times i get the winner and it usual gives minimum of 1:1 RR, in this example case is not though.

out for +15 on au smbt..

uc short trade just done for +24..

this is a perfect example of the earlier post about exit.. as you all see it was a immediate reverse upon entry.. I stayed patience off the reverse action, let it develop and measured the resume...
resume end up being strong and result, big..