Didn't take trade due to MR1 resistance
Attached Image (click to enlarge)
- #442
- Nov 8, 2011 11:36pm Nov 8, 2011 11:36pm
Hi JTee1,
Thanks for sharing this very interesting method.
I've just joined the thread and gave a quick overview along it. Think I've understood the basics but I've a couple of question.
As you can see from the first image tonight I was alerted for the harmony, so I prepared my pending order. But, after a few minutes M15 became green again. Had I to pass this trade?
In second image (assuming the first answer was NOT)I modified the pending order because donchian went a little up.... Is it right? or I had to mantain the first order?
In third image price made new highs, and 15 min & 5 min were still green, so I scratched the trade.... It's right?
I'm using Jtee System template, because the standard one freezes my MT4 (Alpari UK live), and loaded AIO indi I found in indies folder. Could you explain me this indi or refer to a post for it?
Thanks!
Azad
Thanks for sharing this very interesting method.
I've just joined the thread and gave a quick overview along it. Think I've understood the basics but I've a couple of question.
As you can see from the first image tonight I was alerted for the harmony, so I prepared my pending order. But, after a few minutes M15 became green again. Had I to pass this trade?
In second image (assuming the first answer was NOT)I modified the pending order because donchian went a little up.... Is it right? or I had to mantain the first order?
In third image price made new highs, and 15 min & 5 min were still green, so I scratched the trade.... It's right?
I'm using Jtee System template, because the standard one freezes my MT4 (Alpari UK live), and loaded AIO indi I found in indies folder. Could you explain me this indi or refer to a post for it?
Thanks!
Azad
- #443
- Nov 15, 2011 6:46pm Nov 15, 2011 6:46pm
- | Joined Apr 2010 | Status: Trader | 1,401 Posts
Short answer is i like to see previous low broke so i would leave sell stop at original location, as long as there is room to next S&R level and the trend was down and seemed to be in a pullback instead of retrace. Most likely 4 tf harmony would pick right back up at your sell stop.
Was this in london open or franfurt?
Apologies for delay in answering you. I like the first 4 tf harmony after a major news release. Seems to be my best trade.
JTee1
Was this in london open or franfurt?
Apologies for delay in answering you. I like the first 4 tf harmony after a major news release. Seems to be my best trade.
JTee1
Hi JTee1,
Thanks for sharing this very interesting method.
I've just joined the thread and gave a quick overview along it. Think I've understood the basics but I've a couple of question.
As you can see from the first image tonight I was alerted for the harmony, so I prepared my pending order. But, after a few minutes M15 became green again. Had I to pass this trade?
In second image (assuming the first answer was NOT)I modified the pending order because donchian went a little up.... Is it right? or I had to mantain the first order?
In...
- #444
- Nov 15, 2011 7:02pm Nov 15, 2011 7:02pm
- | Joined Apr 2010 | Status: Trader | 1,401 Posts
Not my best entry went 11 pips against me then I added .25 lot trade at next CCI Entry. total 21 pips 13 @ .25 lot and 8 at 1 full lot.
Happy Trading
JTee1
Happy Trading
JTee1
- #445
- Edited Nov 25, 2011 7:45am Nov 24, 2011 11:01pm | Edited Nov 25, 2011 7:45am
- | Joined Jul 2011 | Status: Trader | 15 Posts
HI JTee1 ,
i just made +5 pips according to the rule u have set.. have a look at it.... is there anything wrong in it then please tell me..entered at donchian channel 1.3311,tp 1.3318 which is at S1 line and stoploss -7pips.. i forgot to place chart of another 5 successful scalp in US session +2,+10,+12,+9,+8.. its been a good day on demo getting more confidence
i just made +5 pips according to the rule u have set.. have a look at it.... is there anything wrong in it then please tell me..entered at donchian channel 1.3311,tp 1.3318 which is at S1 line and stoploss -7pips.. i forgot to place chart of another 5 successful scalp in US session +2,+10,+12,+9,+8.. its been a good day on demo getting more confidence
- #448
- Nov 28, 2011 5:07pm Nov 28, 2011 5:07pm
- | Joined Apr 2010 | Status: Trader | 1,401 Posts
Shariqforex
When in profit stay in profit, and it looks like you have. Confidence is the key cut your losers and trade lot sizes your comfortable with and trading can be a breeze. Nice trading day sir! Looks like you played it by the rules for entry, tp and sl is personal preference. What was time EST of this trade?
Happy Trading
JTee1
When in profit stay in profit, and it looks like you have. Confidence is the key cut your losers and trade lot sizes your comfortable with and trading can be a breeze. Nice trading day sir! Looks like you played it by the rules for entry, tp and sl is personal preference. What was time EST of this trade?
Happy Trading
JTee1
HI JTee1 ,
i just made +5 pips according to the rule u have set.. have a look at it.... is there anything wrong in it then please tell me..entered at donchian channel 1.3311,tp 1.3318 which is at S1 line and stoploss -7pips.. i forgot to place chart of another 5 successful scalp in US session +2,+10,+12,+9,+8.. its been a good day on demo getting more confidence
Hi Jtee,
Thanks for your reply, the time for that trade was 1:45 am EST which was suppose to be the end of tokyo session.. I live in new delhi so my time u can say (est +10:30 or gmt +5:30).. As far my tp and sl is concerned i m very much comfortable with risk and reward ratio of 1:1 and your system work all the time.. and i am still looking for loosing trade so that i can ask u what went wrong to learn more... i used THV trading earlier but always had a prob with sl and tp because i bail out earlier in winning trade and wait for bounce back in loosing trade. If i get consistency the same way then it will be achievement for me as a newbie..
One thing i want to ask. Do u apply 2.4 pip rule of flag trading in ur system?
Thanks for your reply, the time for that trade was 1:45 am EST which was suppose to be the end of tokyo session.. I live in new delhi so my time u can say (est +10:30 or gmt +5:30).. As far my tp and sl is concerned i m very much comfortable with risk and reward ratio of 1:1 and your system work all the time.. and i am still looking for loosing trade so that i can ask u what went wrong to learn more...
i used THV trading earlier but always had a prob with sl and tp because i bail out earlier in winning trade and wait for bounce back in loosing trade. If i get consistency the same way then it will be achievement for me as a newbie.. One thing i want to ask. Do u apply 2.4 pip rule of flag trading in ur system?
Shariqforex
When in profit stay in profit, and it looks like you have. Confidence is the key cut your losers and trade lot sizes your comfortable with and trading can be a breeze. Nice trading day sir! Looks like you played it by the rules for entry, tp and sl is personal preference. What was time EST of this trade?
Happy Trading
JTee1
- #454
- Nov 29, 2011 3:50pm Nov 29, 2011 3:50pm
- | Joined Apr 2010 | Status: Trader | 1,401 Posts
Welcome to shariqforex, markd85, Aztrader2, KingHigh, sorry not been around much. Work full time and trying to bid work for my startup company. I trade very early in am if and only right after news releases. Ty for those helping others, we all start somewhere.
I have done well with this system, its a visual system as most people are visual learners. To many systems are arbitrary and its easy to say I wouldn't have taken that losing trade due to this reason. A loss is part of the game, just keep your trade size to a level where you wont freak out if a trade goes against you. That was my problem in beginning.
My first day live trading I took 9 trades all went on to be $ 150.00 winners each without hitting my Stop Loss, but i Bailed early and turned 8 of the 9 into losers. I lost $450.00 my first day instead of making $ 1350.00. my acct was down 9%. By the end of the week i was down 30 % or $1500.00 I regrouped and reduced my lot size and trading became easier. I slowly recouped my money and became more confident. Let my mistake be your lesson.
JTee1
I have done well with this system, its a visual system as most people are visual learners. To many systems are arbitrary and its easy to say I wouldn't have taken that losing trade due to this reason. A loss is part of the game, just keep your trade size to a level where you wont freak out if a trade goes against you. That was my problem in beginning.
My first day live trading I took 9 trades all went on to be $ 150.00 winners each without hitting my Stop Loss, but i Bailed early and turned 8 of the 9 into losers. I lost $450.00 my first day instead of making $ 1350.00. my acct was down 9%. By the end of the week i was down 30 % or $1500.00 I regrouped and reduced my lot size and trading became easier. I slowly recouped my money and became more confident. Let my mistake be your lesson.
JTee1
Here my trade +14 pip half an hour before close of asian session i.e around 1:30 est... Entered at 1.3321..sl at red arrow 1.3335 and tp at 1.3307 according to 1:1 ratio... altough price came and touch 1.3308 and bouce but i kept it didnt find any reason to bail out as we always see the sell off at the end of tokyo session... and i was already short.. but didnt like the way it travelled to tp.
but didnt like the way it travelled to tp.
- #456
- Nov 30, 2011 2:33am Nov 30, 2011 2:33am
- | Joined Jun 2010 | Status: The Villain | 2,565 Posts
jtee1
can you post the results for the past few months. are you up or in the red ?
- #459
- Nov 30, 2011 3:32pm Nov 30, 2011 3:32pm
- | Joined Apr 2010 | Status: Trader | 1,401 Posts
Well played Sir!
here is my first live trade.. intresting thing i observed many time PA kisses the tp and bounce back.. i dont know why but it is so accurate..
entered at 1.3324,sl 1.3311 and tp 1.3337
Thanks mark.. i did it and its looking much clearner.. thanks a lot
thanks a lot Hi Shariq
Very nice trades. You probably already know this but if you want to clean up your chart I think you need to put the "font" file in your windows "font" folder. That should make the charts on the right hand side appear and get rid of the squiglly lines! Good trades.
Mark