DislikedSymbol: AUDCAD
+15: Closed 50% of position, Moved SL to +3
TP: +30.
Sitting on +16pips.Ignored
Oh Lordy, I'm wrong and would be out (if I was in A/C)!!!
Super Simple System for Scalping 178 replies
Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies
Super Simple System 314 replies
Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies
DislikedSymbol: AUDCAD
+15: Closed 50% of position, Moved SL to +3
TP: +30.
Sitting on +16pips.Ignored
DislikedI made 3 losses this week by entering a break out (confirmed by TDI), which turned out to be a pullback. Actually, I stupidly managed to buy the high and sell the low!
Now I stopped trading at all to prevent revenge trading and went back to backtesting. When I compare my backtest results with Phx62' charts, he miraculously always seems to know, when to stay away from a break out.
How do you guys determine at LO, if a breakout is real or not?
garyIgnored
DislikedThis is also a mystery to me. I have always tried to post when I have opened a trade not always after a positive close.
The few really good traders here always seem to only show when they close. I for one would love to challenge those really good traders using this system to post a comment when they have opened a trade and their reason behind it not after the trade was closed.Ignored
DislikedNZD/USD 4 HR trade still going
as of now only +11 pips though, already on the 3rd candle. Not really sure what to do with it ,,, any recommendations?Ignored
DislikedPersonally I prefer good old trend. As good a method as any is (a) daily tdi cross and (b) TDI above below 50 level. So for example if D tdi is below 50 and crossed below on Y's close I'd be looking for moves up at LO to be the head fake and be waiting for chances to sell.
Are there exceptions to this and times when you need to ignore this general rule, of course. If you have HAD A SIGNIFICANT RUN DOWN ALREADY, HIT AN OBVIOUS SUPP/REST LEVEL on higher time frame, combined perhaps with a fib/trend line/important ma/divergence on D chart.Ignored
DislikedNZD/USD 4 HR trade still going
as of now only +11 pips though, already on the 3rd candle. Not really sure what to do with it ,,, any recommendations?Ignored
DislikedTotaly agree...
2 bad trades for the day , , , tried to trade the previous session breakout and both stops were hit, if my 1st stop was just alittle lower, would have been a good trade. Oh well, thats how we learn.Ignored
DislikedCouple of things I see wrong (everyone makes this mistake so please dont consider that criticism) your first buy position should have been on the close of that candle. You opened before the close and it retraced a long way.
Looking at the candle and the size of the wick and the retrace. That would have given you clues that the big pull back is a size of bullish indecision. I wouldn't have opened a trade.
Your second candle going short, I see is trying to enter a trend that has already took off. From my experience I find it easier to enter on...Ignored
DislikedThanks nonfiction, I never take it as cricitism but rather much appriciated feedback. I was under the impression that one does not have to wait for a breakout candle to close, if it was in the 1st few minutes of the I would have waited, but it was during the last 10 minutes or so (Lesson Learnt)
Second trade was also the same thing, but as to what you said about trading the 1st or 2nd candle, I found it better to only take the trade once the candle closes with some space away from the yellow 4EMA. During backtests i found it to have around 80%...Ignored
DislikedTotaly agree...
2 bad trades for the day , , , tried to trade the previous session breakout and both stops were hit, if my 1st stop was just alittle lower, would have been a good trade. Oh well, thats how we learn.Ignored
DislikedThat looks like a double top to me. Keep an eye out for the top and bottom in that range.
If it breaks (closes) outside that range, most traders will consider that as momentum going in that direction. So you would have statistics on your side.
I wouldn't have gone short. I would need to see lower highs forming and a break out of the bottom resistance to go short.Ignored
DislikedThis release of pivot indicators for Day, Week and Month, which include time zone shifted pivots, might help.
http://www.forexfactory.com/showthre...09#post3484709Ignored
Dislikedthose 2 were a bad trade? is not that suppose a nearly perfect entry and exit? O_O. if i werent wrong. 2 of your trade get +50 pips and total 100 pips today right?Ignored