Re-entry GBP/USD Long @ 1.5804, SL: 1.5780, TP: 1.5840
And another possible BORC set-up if hits 1.5840 and starts moving down...
And another possible BORC set-up if hits 1.5840 and starts moving down...
Twitter @raitchev
BORC - 100% Price Action No Indicator System
- #662
- Edited 6:34am Mar 5, 2012 6:32am | Edited 6:34am
guys this set-up on eurjpy could be a potential trade if bounce upon touching the level with arrow 
. i love it if you guys contribute i mean we look at it togeher that is going to help us all
- #665
- Mar 5, 2012 9:32am Mar 5, 2012 9:32am
I believe this is a BORC short setup, but since that major support line mentioned this morning(red line) is close, and also we are jiggling around that support line (yellow line) i will pass that trade...
Twitter @raitchev
- #667
- Mar 5, 2012 1:58pm Mar 5, 2012 1:58pm
@ Raitchev,
I think you are drawing the lines correctly and picking good entry points for TL and Borc setups. However, I think the reason why you are getting stopped out is that your SL placement is too close to the price that you are getting stopped out. When trading the hourly or higher timeframes your SL needs to be wider than 25 pips (as it seems you have been doing). 25 pips may work on 15m or 5m timeframe but I really believe that you will get taken out many time un-ncessarily in H1 TF, if you use this tight SL. You should consider...
As it happened today:
I first opened long g/u @ 1.5819 and my, SL got hit.
Later i opened another long but @ 1.5804, which gave me 15 more pips, with pretty much the same TP. Actually i have no idea why i didint put exactly the same TP, but u get the idea.
However, thats definately a thing that i should consider improving someway.
Anyways, i dont see anymore setups for today, so lets sum up:
-18
-23
+36
+25
---
Monday total: +20 pips...
Considering that AUD/USD wasnt exactly a BORC setup, i think it is okay... better than nothing. All BORC setups would produce total of +43 pips for the day. And this is only usd majors... And this is my money management... i guess some people could made much more
. As shown by Tiwa there were some more setups in the crosses also.Do you guys think that i am posting too many charts and kinda flood the thread? Because it seemed that i was almost the only one who posted charts today it felt kinda weird.
Twitter @raitchev
- #670
- Mar 5, 2012 8:38pm Mar 5, 2012 8:38pm
- Joined Aug 2010 | Status: Trader | 2,584 Posts
I've been thinking about that PP... my major concern is, though, that my R:R will not be good if i put bigger SL. I think i prefer to do a reentry (as it happend today), rather to make more room for the trade, but to risk more than the possible reward. I could aim at the same TP as the first trade, but open the position at better quote, which basically will make up for the first stop hit.
As it happened today:
I first opened long g/u @ 1.5819 and my, SL got hit.
Later i opened another long but @ 1.5804, which gave me 15 more pips, with pretty much...
Again, trade what you are comfortable with. As for posting charts, you cna never post too many charts .. so it is perfectly ok to post the setups as you see them that is how we will all learn and maybe someone else will see a setups we dont see
- #677
- Mar 6, 2012 6:22am Mar 6, 2012 6:22am
nice work on the AU breakout to the downside there tiwa. I am long now AU at the 10600 figure. Thought this maybe a good support area for AU looking back where it was supported before. Lets see if she holds
Twitter @raitchev
