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Daily Chart w/ 10sma

  • #281
  • Feb 2, 2012 1:57am Feb 2, 2012 1:57am
Hi BKG,

I downloaded your email alert. But I can't seem to get it working.

Im using "smtp.gmail.com" as my server.

When I do a test message, I keep getting these 2 errors:

"2012.02.02 15:54:49Mail: 'Test message' failed"

"2012.02.02 15:54:49Mail: 530 5.7.0 Must issue a STARTTLS command first. r9sm3990739pbi.6"

Appreciate your advise on this. Thank you!
  • #282
  • Feb 2, 2012 3:50am Feb 2, 2012 3:50am
Quoting bkg102665
No I never use a trailing stop. When you put you s/l to a positive +1 or +5 let it run to the next area of support or resistance. These trades will very often get you 300, 500, sometimes even 1000 pips but it may take a week even up to a month to get there,
hi, sory i dont really get it the term s/l to a positive +1 or +5. What are they mean? Does it mean trailing stop 15points or 55points?

Thx for the great system.

Thx in advance.
  • #283
  • Feb 2, 2012 4:17am Feb 2, 2012 4:17am
Quoting bellamy85
hi, sory i dont really get it the term s/l to a positive +1 or +5. What are they mean? Does it mean trailing stop 15points or 55points?

Thx for the great system.

Thx in advance.
BKG/Bellamy if I may.
What BKG means is that on opening a trade he may put a Stop Loss (S/L) of 100 to 200 pips intially. Then once the trade is in profit by 60 to 100 pips he moves his stop loss from its original position to +5 pips above his entry level.
That way he has locked in 5 pips profit. He does not move his stop again.
  • #284
  • Feb 2, 2012 6:24am Feb 2, 2012 6:24am
Quoting heath
BKG/Bellamy if I may.
What BKG means is that on opening a trade he may put a Stop Loss (S/L) of 100 to 200 pips intially. Then once the trade is in profit by 60 to 100 pips he moves his stop loss from its original position to +5 pips above his entry level.
That way he has locked in 5 pips profit. He does not move his stop again.
I could not have said it better........obviously I did not say it that good lol
Please ask questions and share your experiences with us all!
  • #285
  • Feb 2, 2012 7:34am Feb 2, 2012 7:34am
Quoting bkg102665
I could not have said it better........obviously I did not say it that good lol

BKG, I have another question. Once you entered the trade, you put the -100/200 pips SL to cover any unexpected movement. But in the case that the entry wasn't so good and prices move against you in a normal way, do you close the operation immediately or wait for the -100/200 pips SL to be beaten?

Thank you very much, I appreciate your advice.

Greg.
  • #286
  • Feb 2, 2012 7:37am Feb 2, 2012 7:37am
Quoting gregofx
BKG, I have another question. Once you entered the trade, you put the -100/200 pips SL to cover any unexpected movement. But in the case that the entry wasn't so good and prices move against you in a normal way, do you close the operation immediately or wait for the -100/200 pips SL to be beaten?

Thank you very much, I appreciate your advice.

Greg.
It all depends on where my support resistance areas are. If it moves against me but does not close above are below my s/r area I let it ride. Once s/r ares is broken by a closed candle (not a candle that is still running) I will get out of the trade.
Please ask questions and share your experiences with us all!
  • #287
  • Feb 2, 2012 7:41am Feb 2, 2012 7:41am
Quoting bellamy85
hi, sory i dont really get it the term s/l to a positive +1 or +5. What are they mean? Does it mean trailing stop 15points or 55points?

Thx for the great system.

Thx in advance.
Here is an example of a trade I entered 2 days ago on eur/nzd. Price closed below 10sma so I entered short at 1.58489. I am now up 120 pips so I just moved my s/l to +5 which is 1.58439. The white line is entry and the red line is s/l. Now this is a winning trade no matter what happens so it takes all the emotion out and I can relax and look for another trade now.
Attached Image (click to enlarge)
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Please ask questions and share your experiences with us all!
  • #288
  • Feb 2, 2012 8:00am Feb 2, 2012 8:00am
Quoting bkg102665
It all depends on where my support resistance areas are. If it moves against me but does not close above are below my s/r area I let it ride. Once s/r ares is broken by a closed candle (not a candle that is still running) I will get out of the trade.
BKG thank you very much. I give 5 stars to this thread!!!
  • #289
  • Feb 2, 2012 8:05am Feb 2, 2012 8:05am
Quoting gregofx
BKG thank you very much. I give 5 stars to this thread!!!
Thank you
Please ask questions and share your experiences with us all!
  • #290
  • Feb 2, 2012 8:27am Feb 2, 2012 8:27am
e-n

was a sell entry ... not supported on its way

I took it as a couple of months I'm moving the sl
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  • #291
  • Feb 2, 2012 8:27am Feb 2, 2012 8:27am
Quoting bkg102665
Thank you

it may be a good idea to post the signals as you see them here ...on the different pairs.
  • #292
  • Feb 2, 2012 8:29am Feb 2, 2012 8:29am
Quoting porfirio
e-n

was a sell entry ... not supported on its way

I took it as a couple of months I'm moving the sl
That my friend is an awesome trade!!
Please ask questions and share your experiences with us all!
  • #293
  • Feb 2, 2012 8:32am Feb 2, 2012 8:32am
Quoting whatfx
it may be a good idea to post the signals as you see them here ...on the different pairs.
I do the best i can when time allows
Please ask questions and share your experiences with us all!
  • #294
  • Feb 2, 2012 8:42am Feb 2, 2012 8:42am
hi bkg

protect the position it as we see signs of reversal or where they spent a couple of days is a great idea ... because with this strategy appear very early opportunities

I think I will reduce my periods of time thanks to you

enter more times but remain less time

thanks
  • #295
  • Feb 2, 2012 1:57pm Feb 2, 2012 1:57pm
hi, thx for sharing this successfull method, i prefer to sell half position after 100 pips, and set the rest for BE +10, so its comfortable for me, only an idea

cheers
  • #296
  • Feb 2, 2012 2:24pm Feb 2, 2012 2:24pm
Quoting frani60
hi, thx for sharing this successfull method, i prefer to sell half position after 100 pips, and set the rest for BE +10, so its comfortable for me, only an idea

cheers
That idea works well also. We must all tweek this system to your method of trading. Thanks for your input.
Please ask questions and share your experiences with us all!
  • #297
  • Feb 2, 2012 3:29pm Feb 2, 2012 3:29pm
Quoting bkg102665
It all depends on where my support resistance areas are. If it moves against me but does not close above are below my s/r area I let it ride. Once s/r ares is broken by a closed candle (not a candle that is still running) I will get out of the trade.
Hi bkg102665,

http://www.forexfactory.com/images/icons/icon5.gif Are you implying that the placement of 100/200 pips initial SL shouldn't go beyond the S/R area, where SMA10 moves up and down. In other words, for a short entry the "highest" possible initial SL would be the Resistance line. And, for a long the "lowest" possible SL would be the Support Line. Am I correct in my interpretation? If it doesn't cause you too much trouble, would you be able to include a picture to clarify this issue.

http://www.forexfactory.com/images/icons/icon5.gif Another question, do you listen/read the market news as one of the criteria in making decision where to place the initial SL? For example EUR/JPY, few days ago there was a rumor that BOJ might intervene, hence a big chance that EUR/JPY might change the direction, which was the case though BOJ hadn't done so. It was just a mere rumor, but your +5 SL was hit.

http://www.forexfactory.com/images/icons/icon7.gif Please bear with me for I am a learner and your method here is very promising indeed. Therefore, I am following it closely.

Looking forward to having your reply. Thanks a lot for your help!

Cheers...
To excel by continuous learning
  • #298
  • Feb 2, 2012 5:24pm Feb 2, 2012 5:24pm
Quoting PeepCzar
Hi bkg102665,

http://www.forexfactory.com/images/icons/icon5.gif Are you implying that the placement of 100/200 pips initial SL shouldn't go beyond the S/R area, where SMA10 moves up and down. In other words, for a short entry the "highest" possible initial SL would be the Resistance line. And, for a long the "lowest" possible SL would be the Support Line. Am I correct in my interpretation? If it doesn't cause you too much trouble, would you be able to include a picture to clarify this issue.

http://www.forexfactory.com/images/icons/icon5.gif...
hi, i put my sl always +10 pips of my entry candle, but i also monitor my trades if i can, and if you are scared about news than you never be able to go in a trade because something happen can every time in the world so don`t think about too much what it could happen

i hope you understand what i mean my english is not so perfect

cheers
  • #299
  • Feb 2, 2012 5:48pm Feb 2, 2012 5:48pm
Quoting frani60
hi, i put my sl always +10 pips of my entry candle, but i also monitor my trades if i can...
Hi frani60,

Please tell me how do you place a +10 pips SL ahead of an entry unless the price has already moved more than 10 pips? What worries me is where to place the "initial" SL as soon as an entry is made, because as a newbie I have problem with placing the initial SL. Beside this, how would you monitor a trade with daily time frame? How often do you check your trade within 24 hours?

Looking forward to having your reply. Thanks!

Cheers...
To excel by continuous learning
  • #300
  • Feb 2, 2012 6:35pm Feb 2, 2012 6:35pm
Quoting PeepCzar
Hi frani60,

Please tell me how do you place a +10 pips SL ahead of an entry unless the price has already moved more than 10 pips? What worries me is where to place the "initial" SL as soon as an entry is made, because as a newbie I have problem with placing the initial SL. Beside this, how would you monitor a trade with daily time frame? How often do you check your trade within 24 hours?

Looking forward to having your reply. Thanks!

Cheers...
here the picture i hope it is clearer, long candle put the sl -10 pips at the low and short +10 pips at the high of the candle

i monitor the trade at my i-phone with an app, and also i have always a small netbook with me, because i trade @ 2 different accounts one with mt4 and one on rbs (oanda) it is useful for the iphone

i look at the charts on different times most at london an new york opens and if there are some important news like forexfactory calendar also on the iphone

so i hope i could help if more questions than tell me

cheers
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