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Trading Made Simple for Day Charts

  • #421
  • Jan 11, 2012 3:31am Jan 11, 2012 3:31am
Quoting Britpip7
This is getting boring I quite like boring - Day 12 of this trade and +750pips so far. This is by far my biggest winner by a country mile and then some.

With TP1 closed @290pips and SL set @600pips, this trade has yielded 890pips in 12 days. SL will be moved again (possibly set to recent Fractal High @1.6125 on H1 which also shows as a good mini resistance on H4) once PA resumes after the current rest period which has the pair in an 80pip range for the past 26 hours.

Expecting a strong support at 1.6000 - major BRN
For the past few weeks it was the best time to short the euro, any euro currency pairs. It has been in a downtrend and a strong one at that. I guess it has to do with everything in the Eurozone right now. So I guess I am short biased at the moment.
  • #422
  • Jan 11, 2012 3:54am Jan 11, 2012 3:54am
Quoting Liberum
Hi guys,

my first post here after reading a lot of threads (X-Man's, Trading Made Simple and this thread). Like many here I decided to get away from small timeframe charts and to trade h4 and daily charts.

Therefore I have a question I asked before on other forums, but got different answers. It would be great to have a clear answer

Let's say I have a trade running and think it will continue next week. There is a SL in place.

But what happens if the pair opens on Sunday evening (way) beyond the SL? In my opinion there are a few options:

-The...
Most brokers would honour the original stop loss, although if you read the small print they don't have to.

Chances of it happening are small. I would say that if it did happen your stop was too close to begin with.
  • #423
  • Jan 11, 2012 4:09am Jan 11, 2012 4:09am
I was more thinking of what would happpen after a major event that took place in a weekend.

Think of a 9/11 impact, one or more countries leaving the Eurozone causing the Euro to collapse, major intervention of the central banks like we saw not so long ago (30th Nov '11), tsunami Japan, intervention of SNB to peg the CHF like they did on the 6th of September '11.

These events could cause the price to open hundreds (maybe even thousands) of pips the wrong way on Sunday.

Just curious would or could happen when you are on the wrong side of a trade and a SL is in place, which is not too close (>100-150 pips).

But I will ask my broker and ask him where I can find this info.
  • #424
  • Jan 11, 2012 4:47am Jan 11, 2012 4:47am
Gentlemen- Would anyone be willing to tell me your broker? I live in Florida and use FXDD and most of the pairs you are dealing with are not offerd! When the man has MY money, I don't like being restricted. any responce would be most helpful! Thanks!!
Enter Signature
  • #425
  • Jan 11, 2012 6:04am Jan 11, 2012 6:04am
Quoting poacher
Gentlemen- Would anyone be willing to tell me your broker? I live in Florida and use FXDD and most of the pairs you are dealing with are not offerd! When the man has MY money, I don't like being restricted. any responce would be most helpful! Thanks!!
-----------------------------------------------------------------------

IBFX - Australia.

Their Daily candle starts at 07.00 pm EST.

Very convenient time for analysis of potential set ups and entering trades.
  • #426
  • Jan 11, 2012 6:18am Jan 11, 2012 6:18am
Thank you so much minortrader for your responce! I will look into this right away! The best to ya!
Enter Signature
  • #427
  • Jan 11, 2012 7:01am Jan 11, 2012 7:01am
Quoting poacher
Gentlemen- Would anyone be willing to tell me your broker? I live in Florida and use FXDD and most of the pairs you are dealing with are not offerd! When the man has MY money, I don't like being restricted. any responce would be most helpful! Thanks!!
I use FXDD live & demo. The demo does offer a limited number of pairs but live is a different story, 27 pairs. Oanda offers even more and I like their closing rollover time better, 11pm I think. FXDD is 4pm CT.
  • #428
  • Jan 11, 2012 10:46am Jan 11, 2012 10:46am
Quoting Liberum
Hi guys,

my first post here after reading a lot of threads (X-Man's, Trading Made Simple and this thread). Like many here I decided to get away from small timeframe charts and to trade h4 and daily charts.

Therefore I have a question I asked before on other forums, but got different answers. It would be great to have a clear answer

Let's say I have a trade running and think it will continue next week. There is a SL in place.

But what happens if the pair opens on Sunday evening (way) beyond the SL? In my opinion there are a few options:

-The...
Hello there,
It happens to me once and my broker take my money and my SL was neglected.They tell me this is the ''gap'' and in our contract it is clearly set. As i trade only microlots now i am not very much concerned about this. Happened once in 500 trades.
  • #429
  • Jan 11, 2012 11:33am Jan 11, 2012 11:33am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
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give 1 and get 100
  • #430
  • Jan 11, 2012 12:03pm Jan 11, 2012 12:03pm
Whats everybodys thoughts on EURCAD? Was about 60 pips in front earlier but has now fallen to 20 for me.

Graham
  • #431
  • Jan 11, 2012 12:14pm Jan 11, 2012 12:14pm
Quoting ghepburn
Whats everybodys thoughts on EURCAD? Was about 60 pips in front earlier but has now fallen to 20 for me.

Graham
I am up around +35 at the moment. Still think there is more left but there is resistance coming up around 1.28 if you check the weekly.
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  • #432
  • Jan 11, 2012 12:33pm Jan 11, 2012 12:33pm
I went short on AUD/NZD at lunchtime, looks like it may be turning now though. I only have access to WebTrader for now though so will have to check my indicators on MT4 when I get home...
  • #433
  • Jan 11, 2012 1:23pm Jan 11, 2012 1:23pm
Quoting petrolhead88
I went short on AUD/NZD at lunchtime, looks like it may be turning now though. I only have access to WebTrader for now though so will have to check my indicators on MT4 when I get home...
I shorted AUD/NZD at the open of the new Bar 7pm EST yesterday. Up 37 pips.
I also took a long position on the NZD/USD at the same time last night. Up 30 pips now. However it looks like NZD/USD is sitting right in a support/resistance area.
If you want to pick up a lot of pips..... Hedge my trades!
  • #434
  • Jan 11, 2012 3:10pm Jan 11, 2012 3:10pm
Quoting minortrader
-----------------------------------------------------------------------

IBFX - Australia.

Their Daily candle starts at 07.00 pm EST.

Very convenient time for analysis of potential set ups and entering trades.
IBFX - USA - I am in California

Day candles start at 4pm PST
"To live with Passion, it takes Courage and Grace to survive"
  • #435
  • Jan 11, 2012 3:12pm Jan 11, 2012 3:12pm
Hi all,

been looking at GBPUSD this evening, seems to have broken out of its range (waiting for next candle to confirm). TDI bounce trade,, WEEKLY BOUNCE tdi entry also..

currently floating around major support,,,, from back in 2010 and september 2011... around the 1.5327.

thinking about shorting,,, or putting sell order under the wick you can see from october. next resistance is around the 1.4765 mark.

what are your guys views on trade?
  • #436
  • Jan 11, 2012 3:19pm Jan 11, 2012 3:19pm
Quoting Markrc
Hi all,

been looking at GBPUSD this evening, seems to have broken out of its range (waiting for next candle to confirm). TDI bounce trade,, WEEKLY BOUNCE tdi entry also..

currently floating around major support,,,, from back in 2010 and september 2011... around the 1.5327.

thinking about shorting,,, or putting sell order under the wick you can see from october. next resistance is around the 1.4765 mark.

what are your guys views on trade?
That one looks good to me once it breaks the 1.53 level. I will be watching it too.
"All good things come to those who wait..."
  • #437
  • Jan 11, 2012 3:52pm Jan 11, 2012 3:52pm
Quoting poacher
Gentlemen- Would anyone be willing to tell me your broker? I live in Florida and use FXDD and most of the pairs you are dealing with are not offerd! When the man has MY money, I don't like being restricted. any responce would be most helpful! Thanks!!

Poacher I'm in Florida as well and use IBFX. Hope this helps.
  • #438
  • Jan 11, 2012 4:12pm Jan 11, 2012 4:12pm
Quoting Markrc
Hi all,

been looking at GBPUSD this evening, seems to have broken out of its range (waiting for next candle to confirm). TDI bounce trade,, WEEKLY BOUNCE tdi entry also..

currently floating around major support,,,, from back in 2010 and september 2011... around the 1.5327.

thinking about shorting,,, or putting sell order under the wick you can see from october. next resistance is around the 1.4765 mark.

what are your guys views on trade?
I'm with you Markc. I'll probably short in 2hours at the opening of the new bar. It's 60 pips or so from the resistance back in September.
If you want to pick up a lot of pips..... Hedge my trades!
  • #439
  • Jan 11, 2012 4:18pm Jan 11, 2012 4:18pm
Quoting Skin
Poacher I'm in Florida as well and use IBFX. Hope this helps.
I'm in Florida with IBFX as well
If you want to pick up a lot of pips..... Hedge my trades!
  • #440
  • Jan 11, 2012 4:29pm Jan 11, 2012 4:29pm
Gone short.
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