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Attachments: Buy sell line trading
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Buy sell line trading

  • #301
  • Mar 9, 2012 3:08am Mar 9, 2012 3:08am
Quoting whatfx
OUT FOR +20 PIPS.
You must have posted your last post while I was writing my last post..

Well Done
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #302
  • Mar 9, 2012 3:18am Mar 9, 2012 3:18am
Quoting seabreeze
you must have posted your last post while i was writing my last post..

Well done

just have a feeling eu may be heading further south. Nothing technical, just a feeling.

At the mo, charts are showing mixed signals. So could be a slow day, or stalemate..

Any signals on h4 on other pairs ?
  • #303
  • Mar 9, 2012 3:21am Mar 9, 2012 3:21am
Quoting whatfx
just have a feeling eu may be heading further south. Nothing technical, just a feeling.

At the mo, charts are showing mixed signals. So could be a slow day, or stalemate..

Any signals on h4 on other pairs ?
Yes you are correct I normaly find this when there is high impact news around the corner the markets get a bit unsettled..This is why im not trading just taking notes.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #304
  • Mar 9, 2012 3:34am Mar 9, 2012 3:34am
I scalped another +4 pips on the upside. Presently short from 13223.

This is what i like to do on a slow day.

However, in my opinion h4 is showing a down trend. May open a swing short position, but wary of news coming up..
  • #305
  • Mar 9, 2012 3:37am Mar 9, 2012 3:37am
Out for +5 pips. Total so far +29 pips.

I have opened a swing short position, tight stop.

Off for now...

Does anyone get any signals on h4 on other pairs ?
  • #306
  • Mar 9, 2012 3:40am Mar 9, 2012 3:40am
Quoting whatfx
I scalped another +4 pips on the upside. Presently short from 13223.

This is what i like to do on a slow day.

However, in my opinion h4 is showing a down trend. May open a swing short position, but wary of news coming up..
Yes I agree with you the price wants to drop but at the moment is showing hesitaion
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #307
  • Edited 3:46am Mar 9, 2012 3:45am | Edited 3:46am
Quoting seabreeze
yes i agree with you the price wants to drop but at the moment is showing hesitaion

yes, there seems to be strong SUPPORT at around 212. Unless it breaks south of that then nothing much doing.

I will monitor my swing short closely on my mobile phone. Bye.
  • #308
  • Mar 9, 2012 3:53am Mar 9, 2012 3:53am
Quoting whatfx
yes, there seems to be strong SUPPORT at around 212. Unless it breaks south of that then nothing much doing.

I will monitor my swing short closely on my mobile phone. Bye.
Have a good day
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #309
  • Mar 9, 2012 4:02am Mar 9, 2012 4:02am
Quoting Seabreeze
Have a good day

GOOD IDEA TO WAIT FOR NEWS. SO IAM OUT OF MY SWING POSITION FOR +3 PIPS ! NOT MUCH OF A SWING POSITION THAT

I SHOULD REALLY BE POSTING ALL THIS ON THE EU THREAD. SORRY FELLAS. WILL STICK TO THE SYSTEM FROM NOW ON..

GOOD DAY TO ALL..
  • #310
  • Mar 9, 2012 7:48am Mar 9, 2012 7:48am
Check out the massive engulfing on USD/CAD H1. First doji, then engulfing +19, IF closes like this (10 min left).
  • #311
  • Mar 9, 2012 8:15am Mar 9, 2012 8:15am
Quoting mrsword
Check out the massive engulfing on USD/CAD H1. First doji, then engulfing +19, IF closes like this (10 min left).
yeah it's essentially a news trade now though, so file under super high risk...IMHO
tradewith60
  • #312
  • Mar 9, 2012 8:18am Mar 9, 2012 8:18am
Per Seabreeze - "As I said earlier I am happy to just watch the markets today and take down some notes. I can always trade again next week." Pay attention all, words of wisdom. p.
  • #313
  • Mar 9, 2012 8:25am Mar 9, 2012 8:25am
Quoting piprac
Per Seabreeze - "As I said earlier I am happy to just watch the markets today and take down some notes. I can always trade again next week." Pay attention all, words of wisdom. p.
I'm with you there piprac... no real trends, dont want to risk yesterdays easy pips
tradewith60
  • #314
  • Mar 9, 2012 9:26am Mar 9, 2012 9:26am
hi 60mm

in your experience, once a trade is made, in generally when do you exit?
for h1? h4? vs d?

have a nice weekend
  • #315
  • Mar 9, 2012 9:52am Mar 9, 2012 9:52am
Quoting sniperfxmy
hi 60mm

in your experience, once a trade is made, in generally when do you exit?
for h1? h4? vs d?

have a nice weekend
Hi Sniper, this is the hardest bit to learn, and im not great at it my self, do we shoot for a fixed amount of pips? do we just cover our position and take a lot of break even trades? etc etc...

What I do know is that statistics show that most traders lose money not because they have more losers than winners, it's because their losers are bigger than their winners.

Reading this article might help, keep this in your mind at all times....

http://www.dailyfx.com/forex/educati...ders_Make.html

So if youre risky 50 pips and closing early at +20 or +30 then you're going to need a super high win rate.

I have tried so many ideas on this and I certainly havent sussed it yet, as I get more experienced I get better at holding my positions longer, but I have to mentally push myself, watching a +20 stop out for 0 is painful, but if I have risked 50 i'm looking for 50 at least.

Closing out a winner at less than 1/1 is a bad idea, if youre going to do anything, reduce your risk by moving your stops up, or jst close partial... first option is better im sure.

Like I said, i'm very much a learner in this field, maybe someone else has some ideas or strategies they use ?????
tradewith60
  • #316
  • Edited 10:41am Mar 9, 2012 10:36am | Edited 10:41am
Thanks for the informative link (DailyFX), an excellent read. I know I'm guilty of closing trades when the price stalls on the way to my TP. I close it out for a small win and watch it go to a big win.

I'm tempted to demo their suggested "Model Strategy" for 15M TF trades; can't be too hard if one sticks to their suggested pairs. But this strategy is numero uno for me as I like 1H and these simple but consistent rules for analyzing a potential trade.

Enjoy the weekend all, good trades coming next week (if I follow the rules!)
  • #317
  • Edited 11:25am Mar 9, 2012 11:10am | Edited 11:25am
I struggle with exits too. What I am finding useful though is once in a trade, move to a lower TF to watch price action. So, for the hrly engulfs, i'll use the 5min to manage the trade.

Assuming the trade moves in the right direction, when it nears a target (whatever that may be; 1:1, fib extension, S/R, pivot level) i'll be looking for a 123 reversal pattern to form and break on 5min close, before exiting.

Nice example on EU today, which i didn't trade incidently because the entry was around NFP. It's just one way of trying to extend the gains of the winners.

Edit: exit chart added now as a 123 long with a 5min close just above '2' has printed.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: BEOBEU090312-1a.GIF Size: 36 KB
Click to Enlarge Name: BEOBEU090312-1b.GIF Size: 11 KB
  • #318
  • Mar 9, 2012 11:16am Mar 9, 2012 11:16am
Ian posting this from mobile phone. I now wish I had my swing short open from this morning ! What a move downwards ! Oh, well there will be another day. Was able to grab 20 pips though. Trading via my mobile .... See ya all on Monday.
  • #319
  • Mar 9, 2012 11:25am Mar 9, 2012 11:25am
Quoting sidefx
I struggle with exits too. What I am finding useful though is once in a trade, move to a lower TF to watch price action. So, for the hrly engulfs, i'll use the 5min to manage the trade.

Assuming the trade moves in the right direction, when it nears a target (whatever that may be; 1:1, fib extension, S/R, pivot level) i'll be looking for a 123 reversal pattern to form and break on 5min close, before exiting.

Nice example on EU today, which i didn't trade incidently because the entry was around NFP. It's just one way of trying...
nice side... I think we can all agree that you need a technical reason to exit, and you need to use it on every trade.

It could be a couple of exit strats, say 2/1 i will definitely close, or at the next h4 s/r, or a H1 closed against me etc etc

If you use a random thing on every trade you will never be consistent.
tradewith60
  • #320
  • Mar 9, 2012 1:23pm Mar 9, 2012 1:23pm
Nice method 60minuteman!

Will spend some time on it starting next week.
Consistency = Steady growth = Solid equity
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