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Buy sell line trading

  • #61
  • Mar 5, 2012 7:58am Mar 5, 2012 7:58am
Quoting EasyRyder
Nice strategy, 60minuteman. Thanks for sharing. With reference to Post 33, rule 2a for long trades, shouldn't the rule be "(for longs) the low of the signal candle or the previous candle must be the lowest low of the last 5 candles"

Please confirm.

Thanks
Hi Easy

yeah, my mistake.... god i need a proof reader....
tradewith60
  • #62
  • Mar 5, 2012 8:10am Mar 5, 2012 8:10am
ok

In any case the engulf are signal very powerful

saludos.
  • #63
  • Mar 5, 2012 8:19am Mar 5, 2012 8:19am
Quoting porfirio
g-j we must be careful with that input

IN H4 is oversold and will rise a bit but then go back down ... on d1 and w1 is overbought

is a risk buy

in any case is quite good strategy ... but if you look at upper TF could reduce risks... congratulations minute60
porf
i do trade PA + BB. suggest you to open a thread and i will join.

Quoting 60minuteman
possibly... not something I do anymore, but if it works for you then it's good. I keep it very bare bones and simple
KISS
  • #64
  • Mar 5, 2012 8:26am Mar 5, 2012 8:26am
Quoting porfirio
g-j we must be careful with that input

IN H4 is oversold and will rise a bit but then go back down ... on d1 and w1 is overbought

is a risk buy

in any case is quite good strategy ... but if you look at upper TF could reduce risks... congratulations minute60

ON SAME SIDE
  • #65
  • Mar 5, 2012 8:38am Mar 5, 2012 8:38am
hi sniper
I'm sorry I do not speak English ... but if you send me your email in private message we could communicate
  • #66
  • Mar 5, 2012 9:58am Mar 5, 2012 9:58am
hi 60

what about open 2 order one has a tp and the other we let it going on

if the free one go down and lose we will hedge it with the first


and we will be winners in all trades
  • #67
  • Mar 5, 2012 10:31am Mar 5, 2012 10:31am
60MM would this have been a valid entry for you ?

It actually fulfills both signal 1 & 2.

Attached Image (click to enlarge)
Click to Enlarge Name: 05-03-2012 16-29-47.png Size: 10 KB
  • #68
  • Mar 5, 2012 10:59am Mar 5, 2012 10:59am
Great, simple method.

When do you take profit? Do you take it when your PIPs goal is reached, or when the candle touches the 50SMA going the other way in the trend, just before it crosses to the other side of the trend line?

Nice work!
  • #69
  • Mar 5, 2012 11:07am Mar 5, 2012 11:07am
its on the first post mate
  • #70
  • Mar 5, 2012 11:21am Mar 5, 2012 11:21am
Quoting dan89
its on the first post mate
First Post: "We aim for 1/1 r/r where we can either remove risk or close the trade or close partial".

I saw this but don't know what 1/1 r/r means? New to Forex..
  • #71
  • Mar 5, 2012 11:44am Mar 5, 2012 11:44am
Quoting porfirio
g-j we must be careful with that input

IN H4 is oversold and will rise a bit but then go back down ... on d1 and w1 is overbought

is a risk buy

in any case is quite good strategy ... but if you look at upper TF could reduce risks... congratulations minute60
What do all the squiggly lines mean? Buy when they squiggle up?
  • #72
  • Mar 5, 2012 12:28pm Mar 5, 2012 12:28pm
hi 60 minute man,nice simple trading-would just want to add that slope of ma is significant also..for example if price is above ma but ma is flat then you are loosing edge
Never again will fade the trend
  • #73
  • Mar 5, 2012 1:59pm Mar 5, 2012 1:59pm
i have taken audjpy trade. long at 8687 with half the position. remainder will be entered at a suitable level if trade goes against me.

we shall see how things transpire.
  • #74
  • Mar 5, 2012 2:32pm Mar 5, 2012 2:32pm
Quoting Goldwiki
First Post: "We aim for 1/1 r/r where we can either remove risk or close the trade or close partial".

I saw this but don't know what 1/1 r/r means? New to Forex..
This means 1:1 reward/risk ratio. So if you have a stop loss of 48 pips then your profit target is also 48 pips.
  • #75
  • Mar 5, 2012 3:33pm Mar 5, 2012 3:33pm
Quoting billbss
Does the entrance have to take place the very next bar after the signal candle?
Billbss this strategy is a strategy created by Steven Primo of Specialisttrading.com, he introduced the whole concept of the buy sell line. He's done a free seminar at fxstreet where he disclosed this strategy along with the results for free Watch the following webinars they explain every aspect of the system.
Inserted Code
http://www.fxstreet.com/webinars/sessions/session.aspx?id=95a9ca75-de75-4de6-81ca-7b44ff944b3a
You can check out his other webinars too they talk about the same concept of his buy sell line and the engulfing along with some exit strategies as well
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http://www.fxstreet.com/search/contributors/authors/author.aspx?id=223a4a26-d54d-40c1-bbfa-91561b7c324a
  • #76
  • Mar 5, 2012 5:26pm Mar 5, 2012 5:26pm
Quoting fugly
Billbss this strategy is a strategy created by Steven Primo of Specialisttrading.com, he introduced the whole concept of the buy sell line.
Just like SP, 60mm thanks for sharing the method in FF. Indeed a KISS concept! Keep up your good work and posting.

Cheers
  • #77
  • Mar 5, 2012 5:53pm Mar 5, 2012 5:53pm
Quoting fugly
Billbss this strategy is a strategy created by Steven Primo of Specialisttrading.com, he introduced the whole concept of the buy sell line.....
That's gold. While he may well have coined the term "buy-sell line", buying/selling engulfing patterns above/below a 50 moving average is not his idea.

FYI - It's been around long before Steven was even a twinkle in his daddy's eye.

Nice simple method 60minuteman. Every new trader should master a method like this. It's the basics you learn from it that will pay off the most. Like eventually not even needing the line to gauge market conditions
  • #78
  • Mar 5, 2012 6:03pm Mar 5, 2012 6:03pm
Quoting sebohsj
That's gold. While he may well have coined the term "buy-sell line", buying/selling engulfing patterns above/below a 50 moving average is not his idea.

FYI - It's been around long before Steven was even a twinkle in his daddy's eye.

Nice simple method 60minuteman. Every new trader should master a method like this. It's the basics you learn from it that will pay off the most. Like eventually not even needing the line to gauge market conditions
Hi Sobohs,

Yep you are spot on, the 50 sma has been around as a trend fiter for decades and was heavily used in stocks...
tradewith60
  • #79
  • Mar 5, 2012 6:22pm Mar 5, 2012 6:22pm
CAD/JPY 4HR seems to be moving along very slowly. Are there any unsaid rules to limits on time to trigger a trade?
  • #80
  • Mar 5, 2012 6:29pm Mar 5, 2012 6:29pm
Quoting prof8t
CAD/JPY 4HR seems to be moving along very slowly. Are there any unsaid rules to limits on time to trigger a trade?

After the signal bar it must trigger the very next bar or the trade is invalidated
tradewith60
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