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  • #5,401
  • Feb 23, 2012 8:00pm Feb 23, 2012 8:00pm
Quoting emmanuel7788
Man, you got a double Blessings, corporate job pays you steady income and it also prevents you from trading the market noise. How I would have love I got my corporate job back after 4+years since I last fired my boss.
Thanks.

I enjoy corporate world as it has its own charm but as long as I feel like going to the same place every morning otherwise either me or my boss exercise the rights to fire each other.

Btw I am from the world of finance so WIP is a daily life lingo

Trade well !!
Forex is boring but profitable with patience and discipline
  • #5,402
  • Feb 23, 2012 8:05pm Feb 23, 2012 8:05pm
Here is another trade which I took this morning

Entry 1.0688
SL 1.0600
TP 1.0780

I am posting only those charts where price did a run of atleast 40-50 pips. The trades which did not run at the first place hit the SL anyways therefore no trade management at all.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 29 KB
Forex is boring but profitable with patience and discipline
  • #5,403
  • Feb 23, 2012 8:36pm Feb 23, 2012 8:36pm
Quoting prftablefool
Here is another trade which I took this morning

Entry 1.0688
SL 1.0600
TP 1.0780

I am posting only those charts where price did a run of atleast 40-50 pips. The trades which did not run at the first place hit the SL anyways therefore no trade management at all.
Hi,

Another very nice trade by prftablefool!

That's what is called a 'cabriole' trade ...(nothing to do with furniture) but in ballet ... a leap in the air, and ....

here's a quickie on trade management H4 way. Use the ATR(10) of H4 period, move your stops at 2xthe ATR(10) at every H4 candle close.

What is your initial R?
If your R=90pips, How many R do you want this trade to finish for you?
Is 5xR trade profit good enough?

After market has given you 3R, you can tighten stops by slowing moving closer using percentage of the market move.

Are you prepared to scarifice 50% of your floating proifts to 'Let Profits Run'? If not, what percentage are you game for?

Where is the fear and greed factor here? Are these both managed doing this way?

Think about that deep....
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,404
  • Feb 23, 2012 9:03pm Feb 23, 2012 9:03pm
Quoting emmanuel7788
Hi fxtrade,

For the daily pivots used in this S3 H1 system, you can use the one posted by X-Man ...post#3626.

I modified some of the information indicators purely for my personalised usage. This I will email you, ok?


regards,
this indy only puts a price box on my chart , but no pivots?any help appreciated
  • #5,405
  • Feb 23, 2012 9:18pm Feb 23, 2012 9:18pm
Quoting emmanuel7788
Hi,

here's a quickie on trade management H4 way. Use the ATR(10) of H4 period, move your stops at 2xthe ATR(10) at every H4 candle close.

What is your initial R?
If your R=90pips, How many R do you want this trade to finish for you?
Is 5xR trade profit good enough?

After market has given you 3R, you can tighten stops by slowing moving closer using percentage of the market move.

Are you prepared to scarifice 50% of your floating proifts to 'Let Profits Run'? If not, what percentage are you game for?

Where is the fear and greed factor...
Most of the times price turn around based on PPZ atleast the way I read the charts therefore I assess the potential of the trade rather than trading on arbitary or wishful RR. Having said that, I don't consider taking trades which has less than 1:1 ratio. The strategy of taking trades with less than 1:1 is also feasible if a trader has a very high winning rate as winning rate and RR compensate each other.

I am not trading for a very long time therefore don't have enough data/experience to support whether it is feasible to identify the trade potential with set and forget approach or keep on playing with SL as trade develops.

I think trades of 4H or less are more of a quickie sort of a thing and therefore do not give more than 3R very often unless a trader is using 4H or less to get a better price while taking long term trades.

Nonetheless, thanks for sharing your thoughts. I will go through your ideas and will bug you again if there will be any further questions.

Much appreciated.
Forex is boring but profitable with patience and discipline
  • #5,406
  • Feb 23, 2012 9:32pm Feb 23, 2012 9:32pm
Quoting Chriswill57
where is the mistake again ?
Hi Chriswill57,

I took the same trade and got the same result as you. I put it on and went to bed - I will concede that's not the best idea when trading H1 (!) but I need to sleep at night.
I agree with Emmanuel's post, we were trying to trade a correction. So when the green TDI line hooked up it was probably time to consider closing it, as in the TMS method.
  • #5,407
  • Feb 23, 2012 9:35pm Feb 23, 2012 9:35pm
An interesting read on trade management

http://www.trade2win.com/boards/fore...g-me-alot.html

Only 7 pages thread but very interesting.
Forex is boring but profitable with patience and discipline
  • #5,408
  • Feb 23, 2012 10:15pm Feb 23, 2012 10:15pm
Quoting emmanuel7788
Hi fxtrade,

For the daily pivots used in this S3 H1 system, you can use the one posted by X-Man ...post#3626.

I modified some of the information indicators purely for my personalised usage. This I will email you, ok?


regards,

Yes, thank you.
  • #5,409
  • Feb 23, 2012 10:24pm Feb 23, 2012 10:24pm
Hi Guys..

Sorry to ask this question as a newbie. What is actually a PA, Price Action? Is it the price bar or the TDI Cross over line?
  • #5,410
  • Feb 23, 2012 11:14pm Feb 23, 2012 11:14pm
Quoting Cun
Phx62,

Probably I am missing something but earlier I thought you often enter mid candle waiting for prices to move above/below previous candle's high/low for long/short trade, like your trade on Feb 16.
Let me rephrase my answer....what I should have said is I look for a TDI crossover at the open of any candle with a color change......my entry is somewhere within the first two candles of that TDI crossover and entry is determined by other confirming factors....i.e., PA breaking resistance or support, a pullback candle, overbought or oversold, volume/momentum, etc....
  • #5,411
  • Feb 23, 2012 11:40pm Feb 23, 2012 11:40pm
Quoting Sgs2
Hi Guys..

Sorry to ask this question as a newbie. What is actually a PA, Price Action? Is it the price bar or the TDI Cross over line?
No problem. You asked a newbie question what I asked many years ago. You will always get an answer here in this thread. We are here to help one another.

PA is is not simply price bar or the TDI cross ...etc.

See attached picture. This is one way for you to get started.
Attached Image (click to enlarge)
Click to Enlarge Name: use Google.png Size: 16 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,412
  • Feb 24, 2012 1:04am Feb 24, 2012 1:04am
Quoting robuk
this indy only puts a price box on my chart , but no pivots?any help appreciated

Hi robuk,

this attachment may help.
you need to set the input parameters Part1 and Part 4 to your own perferences.

Regards,
Attached File(s)
File Type: pdf Overview SonicChartPanel.pdf   373 KB | 2,123 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,413
  • Feb 24, 2012 1:36am Feb 24, 2012 1:36am
Quoting emmanuel7788
Hi robuk,

this attachment may help.
you need to set the input parameters Part1 and Part 4 to your own perferences.

Regards,
thanks very much , i got it now.
regards
ROB
  • #5,414
  • Feb 24, 2012 1:58am Feb 24, 2012 1:58am
Quoting Phx62
Let me rephrase my answer....what I should have said is I look for a TDI crossover at the open of any candle with a color change......my entry is somewhere within the first two candles of that TDI crossover and entry is determined by other confirming factors....i.e., PA breaking resistance or support, a pullback candle, overbought or oversold, volume/momentum, etc....
Thanks Phx62 for the clarification.
  • #5,415
  • Feb 24, 2012 2:42am Feb 24, 2012 2:42am
Quoting robuk
thanks very much , i got it now.
regards
ROB
Yeah you have to go to part 4 in the settings and there you have options 0 to 4 to choose for your display.

I chose display 2. so from 4 you just change them to 2 .

And if you go further down you can choose the labels you want to display just change them from false to true.
X-man the legendary conqueror of markets
  • #5,416
  • Feb 24, 2012 2:44am Feb 24, 2012 2:44am
Today on E/U i would say that it would be a bullish day since is broke that daily resistance yesterday.
look out for longs today
X-man the legendary conqueror of markets
  • #5,417
  • Feb 24, 2012 2:50am Feb 24, 2012 2:50am
Hi,
Here's one for newbies to practice.
NZDUSD
- do you see a sell setup?
- would you trade this pair now?
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD 24 Feb 24-2-2012 4-40-24 PM.png Size: 85 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,418
  • Feb 24, 2012 2:55am Feb 24, 2012 2:55am
Quoting X-Man
Today on E/U i would say that it would be a bullish day since is broke that daily resistance yesterday.
look out for longs today

Yup. Clear sky above "00".
weekly range still in sight.
Japanese cousin leading the way.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,419
  • Feb 24, 2012 2:55am Feb 24, 2012 2:55am
Note the session opens

http://i1236.photobucket.com/albums/...gguy/opens.jpg
  • #5,420
  • Feb 24, 2012 2:58am Feb 24, 2012 2:58am
My weekly report :

Total trades on 1H TF : 5 trades
won 3 trades , lost 2 trades

Pips won : 110
pips lost : (33)
Total : 77

Total trades on 4H TF : 3 trades
Won 2 and lost 1 trade

Pips won : 130
pips lost : (5)
Total : 125


Total pips for the week : 202 pips
and made a bit of pips scalping the market as well.
X-man the legendary conqueror of markets
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