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Attachments: Buy sell line trading
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Buy sell line trading

  • #481
  • Edited 8:03am Mar 13, 2012 7:57am | Edited 8:03am
Well done 60mm

I have attached a chart just to describe different take profit areas to look for..New traders may find this useful

I did not take this trade as I missed it but 60mm entered the trade and has demonstrated very well how to manage trades on the more aggressive side..

As you can see you have the entry..

My first target at this stage would have been the S1 I would pull out one lot of my two lot trade and pulled the stop loss to entry price and let the other run untill it reached the yellow support line and then I would have made my exit..

Giving 30 + pips to lot 1 and 45 + pips to lot 2 for a 16 pip risk..

This is how I trade because it keeps me consistent.

You can see how a lot of traders had the same thought because as predicted the price bounced off the yellow line and caused a small pullback..

60mm has demonstrated perfectly that by managing your trades you can have a more aggressive take profit..Please bare in mind that High Impact news was in progress when these trades were made which is great when you are on the right side of the news..[/quote]

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour uc.gif Size: 33 KB


Sorry forgot to add chart
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #482
  • Mar 13, 2012 8:01am Mar 13, 2012 8:01am
Quoting Olu
Is there any fundamental news out causing the euro to be slammed like this? I am long the usdchf and we have broken out hard...

Olu
Hi Olu

I put this out a while ago sorry you did not see it


Possible High Impact news about to be realeased on this pair ECB President Draghi about to speak in next five mins..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #483
  • Mar 13, 2012 8:06am Mar 13, 2012 8:06am
Quoting Olu
Is there any fundamental news out causing the euro to be slammed like this? I am long the usdchf and we have broken out hard...

Olu


constant stream of news, just keep trading the price action i say, all the clues are there.... awesome trade by the way too !
tradewith60
  • #484
  • Mar 13, 2012 8:07am Mar 13, 2012 8:07am
I Got out at 60 pips profit on EUR/USD and got scared of the strong EMA50 level on daily on USD/CHF and took only 12 pips there.

Good news about the USA might push down the USD, so I`m out for a while.
  • #485
  • Mar 13, 2012 8:11am Mar 13, 2012 8:11am
Seabreeze and 60minuteman

for some reason I missed a whole page of posts.

Glad to see everyone making pips. Wherever there is strength of direction you generally see engulfing candles at the start of the move or as continuation signals.

Olu
If you think you can or cannot do it you are correct
  • #486
  • Mar 13, 2012 8:12am Mar 13, 2012 8:12am
Quoting NuBeez
EU stopped -100 !!!
Did I miss your post as well?

Olu
If you think you can or cannot do it you are correct
  • #487
  • Mar 13, 2012 8:13am Mar 13, 2012 8:13am
Quoting Seabreeze
Well done 60mm

I have attached a chart just to describe different take profit areas to look for..New traders may find this useful

I did not take this trade as I missed it but 60mm entered the trade and has demonstrated very well how to manage trades on the more aggressive side..

As you can see you have the entry..

My first target at this stage would have been the S1 I would pull out one lot of my two lot trade and pulled the stop loss to entry price and let the other run untill it reached the yellow support line and then...
Attachment

Sorry forgot to add chart[/quote]

nice Seabreeze... also got to point out the trend on this pair... lovely steady slope down on the ma, and price action showing the sellers in control... picking the right pair will help alot if your tf shows a flat ma then the trend edge is not in your favour, just being above or below wont cut it. Be alert and ask yourself if the trade is good or bad and why. If need be write a list of questions you ask yourself before every trade... the more edges in your favour the better

TREND>PRICE ACTION>MOMENTUM
tradewith60
  • #488
  • Mar 13, 2012 8:16am Mar 13, 2012 8:16am
Quoting NuBeez
EU stopped -100 !!!
Hey Nubeez shame about the loss, I think you're on the right track here, just give some extra thought to the TREND element....
tradewith60
  • #489
  • Mar 13, 2012 8:18am Mar 13, 2012 8:18am
Quoting Olu
Did I miss your post as well?

Olu
Hi Olu,

I took the EU Daily long setup yesterday. Just got swiped.
Consistency = Steady growth = Solid equity
  • #490
  • Mar 13, 2012 8:19am Mar 13, 2012 8:19am
Quoting 60minuteman
Attachment

Sorry forgot to add chart
nice Seabreeze... also got to point out the trend on this pair... lovely steady slope down on the ma, and price action showing the sellers in control... picking the right pair will help alot if your tf shows a flat ma then the trend edge is not in your favour, just being above or below wont cut it. Be alert and ask yourself if the trade is good or bad and why. If need be write a list of questions you ask yourself before every trade... the more edges in your favour the better

TREND>PRICE ACTION>MOMENTUM[/quote]


Thanks 60mm! Will note for future trades.
Consistency = Steady growth = Solid equity
  • #491
  • Mar 13, 2012 8:19am Mar 13, 2012 8:19am
Quoting 60minuteman
Attachment

Sorry forgot to add chart
nice Seabreeze... also got to point out the trend on this pair... lovely steady slope down on the ma, and price action showing the sellers in control... picking the right pair will help alot if your tf shows a flat ma then the trend edge is not in your favour, just being above or below wont cut it. Be alert and ask yourself if the trade is good or bad and why. If need be write a list of questions you ask yourself before every trade... the more edges in your favour the better

TREND>PRICE ACTION>MOMENTUM[/quote]

Yes you are correct..The 50 line is the first thing I look at when I see an engulfing candle..I try to imagine how fast I could slide down the slope on a sell and if it looks like a fast ride its a good sign, If its a buy trade and it looks like hard work to run up it this is also a good sign.. If its somewhere in the middle I will leave most times.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #492
  • Mar 13, 2012 8:25am Mar 13, 2012 8:25am
somethings got to be wrong here.......

491 posts and nobody demanding we add some more indi's to filter the bad trades

.... that makes me happy!
tradewith60
  • #493
  • Mar 13, 2012 8:25am Mar 13, 2012 8:25am
Quoting NuBeez
Hi Olu,

I took the EU Daily long setup yesterday. Just got swiped.
On my charts all I had was a 'hammer' off the 50sma. It wasn't a buysellline entry was it? By the way commiserations on the trade. I looked back and see that you made a good profit from another trade so this lessens the impact of this bad one on your account. It is the nature of the business.

Olu
If you think you can or cannot do it you are correct
  • #494
  • Mar 13, 2012 8:27am Mar 13, 2012 8:27am
Quoting 60minuteman
somethings got to be wrong here.......

491 posts and nobody demanding we add some more indi's to filter the bad trades

.... that makes me happy!
Me too...Simplicity is the best.

Olu
If you think you can or cannot do it you are correct
  • #495
  • Mar 13, 2012 8:27am Mar 13, 2012 8:27am
buy stop at 68.05, stop @ 67.57,tp 69.05

http://img829.imageshack.us/img829/8379/nj2h.jpg
Consistency = Steady growth = Solid equity
  • #496
  • Mar 13, 2012 8:27am Mar 13, 2012 8:27am
Quoting Olu
On my charts all I had was a 'hammer' off the 50sma. It wasn't a buysellline entry was it? By the way commiserations on the trade. I looked back and see that you made a good profit from another trade so this lessens the impact of this bad one on your account. It is the nature of the business.

Olu
I believe it was the 2nd entry type olu
tradewith60
  • #497
  • Mar 13, 2012 8:31am Mar 13, 2012 8:31am
Quoting 60minuteman
somethings got to be wrong here.......

491 posts and nobody demanding we add some more indi's to filter the bad trades

.... that makes me happy!
Thats because we don't need them..If indicators started to be added I would just stop posting..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #498
  • Mar 13, 2012 8:34am Mar 13, 2012 8:34am
Quoting 60minuteman
I believe it was the 2nd entry type olu
Sorry guys I have been trading type 1 only. Do you have the post number of type 2?

I will need to get my eyes tested. I might have breezed over it without assimilating it
Olu
If you think you can or cannot do it you are correct
  • #499
  • Mar 13, 2012 8:36am Mar 13, 2012 8:36am
Quoting Seabreeze
Thats because we don't need them..If indicators started to be added I would just stop posting..
Dont be like that I like the slow stochastics
If you think you can or cannot do it you are correct
  • #500
  • Mar 13, 2012 8:37am Mar 13, 2012 8:37am
Quoting Olu
Dont be like that I like the slow stochastics
Not that I am calling for its addition...

Olu
If you think you can or cannot do it you are correct
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