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Attachments: Buy sell line trading
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Buy sell line trading

  • #521
  • Mar 13, 2012 12:13pm Mar 13, 2012 12:13pm
Quoting 60minuteman
Hi Raitchev, you are getting lost in the detail and missing the big picture.

You have to stop and ask yourself why this strategy might work, what are the reasons behind it... (you should do this with all strategies it will make you a better trader.)

We know that we have periods of trending and periods of ranging markets, we also know that buying with the trend when it exists will increase our win rate.

If price remains above a ma we could say it is trending long, and below vice versa....

Even when price is trending we also know it will...
Thank you for your kind reply 60mm.
I am trying to adapt 4H trading, because i want to spend less screen time, thats why it is imoprtant for me
Thank you again!
Twitter @raitchev
  • #522
  • Mar 13, 2012 12:18pm Mar 13, 2012 12:18pm
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 I would...
Attachment

Sorry forgot to add chart[/quote]

Hi Seabreeze,

Just trying to follow along to learn this system. In your example, I don't see a valid entry according to the rules. If you are using the 6th candle back as your signal candle, it was above the 50 SMA and only a long trade should have been taken. The next candle (5th back and your entry candle) never went above the high of the signal candle, so no long trade triggered.

However, I do see the 5th candle becoming a signal candle as it closed below the 50 SMA signaling short and the 4th candle would have triggered a trade as it went below the low of the 5th candle.

If I am wrong or missed something, please let me know.
  • #523
  • Mar 13, 2012 1:05pm Mar 13, 2012 1:05pm
Quoting fxtrader2k7
Attachment

Sorry forgot to add chart
Hi Seabreeze,

Just trying to follow along to learn this system. In your example, I don't see a valid entry according to the rules. If you are using the 6th candle back as your signal candle, it was above the 50 SMA and only a long trade should have been taken. The next candle (5th back and your entry candle) never went above the high of the signal candle, so no long trade triggered.

However, I do see the 5th candle becoming a signal candle as it closed below the 50 SMA signaling short and the 4th candle would have triggered a trade as it went below the low of the 5th candle.

If I am wrong or missed something, please let me know.[/quote]

youre right fx, the signal candle is the one that closed below the 50sma... then triggers entry with the little doji candle
tradewith60
  • #524
  • Mar 13, 2012 1:05pm Mar 13, 2012 1:05pm
Quoting fxtrader2k7
Attachment

Sorry forgot to add chart
Hi Seabreeze,

Just trying to follow along to learn this system. In your example, I don't see a valid entry according to the rules. If you are using the 6th candle back as your signal candle, it was above the 50 SMA and only a long trade should have been taken. The next candle (5th back and your entry candle) never went above the high of the signal candle, so no long trade triggered.

However, I do see the 5th candle becoming a signal candle as it closed below the 50 SMA signaling short and the 4th candle would have triggered a trade as it went below the low of the 5th candle.

If I am wrong or missed something, please let me know.[/quote]

I took the EURCAD short too today and just re-checked my snip of the chart from earlier....does anyone else have an issue with candles repainting?.!!!..my current hrly EC chart has different candles to the one i traded earlier (i'm using Alpari (UK))...
  • #525
  • Mar 13, 2012 1:15pm Mar 13, 2012 1:15pm
Quoting sidefx
Hi Seabreeze,

Just trying to follow along to learn this system. In your example, I don't see a valid entry according to the rules. If you are using the 6th candle back as your signal candle, it was above the 50 SMA and only a long trade should have been taken. The next candle (5th back and your entry candle) never went above the high of the signal candle, so no long trade triggered.

However, I do see the 5th candle becoming a signal candle as it closed below the 50 SMA signaling short and the 4th candle would have triggered a trade as it...
I took the EURCAD short too today and just re-checked my snip of the chart from earlier....does anyone else have an issue with candles repainting?.!!!..my current hrly EC chart has different candles to the one i traded earlier (i'm using Alpari (UK))...[/quote]

Alpari are shite (although all my screenshots on here are from Alpari uk, but thats for reasons i wont go into here)... if youre in the UK (which i know you are side) GKFX spread bet broker are awesome, been with them for 2 years, great spreads, great mix of instruments and NO TAX !!! (if you consider a live account with them, contact me first, I can get some good deals)
tradewith60
  • #526
  • Mar 13, 2012 1:29pm Mar 13, 2012 1:29pm
Quoting 60minuteman
I took the EURCAD short too today and just re-checked my snip of the chart from earlier....does anyone else have an issue with candles repainting?.!!!..my current hrly EC chart has different candles to the one i traded earlier (i'm using Alpari (UK))...
Alpari are shite (although all my screenshots on here are from Alpari uk, but thats for reasons i wont go into here)... if youre in the UK (which i know you are side) GKFX spread bet broker are awesome, been with them for 2 years, great spreads, great mix of instruments and NO TAX !!! (if you consider a live account with them, contact me first, I can get some good deals)[/quote]

Thanks for the rec mate, will check em out.
  • #527
  • Mar 13, 2012 2:23pm Mar 13, 2012 2:23pm
Quoting fxtrader2k7
Attachment

Sorry forgot to add chart
Hi Seabreeze,

Just trying to follow along to learn this system. In your example, I don't see a valid entry according to the rules. If you are using the 6th candle back as your signal candle, it was above the 50 SMA and only a long trade should have been taken. The next candle (5th back and your entry candle) never went above the high of the signal candle, so no long trade triggered.

However, I do see the 5th candle becoming a signal candle as it closed below the 50 SMA signaling short and the 4th candle would have triggered a trade as it went below the low of the 5th candle.

If I am wrong or missed something, please let me know.[/quote]


.......................................................................................Seeabreeze Answer..............................................................................................

Hello yes your right on this chart...I use two platforms for my trading and I posted the wrong chart..As you can see the other platform was showing a valid entry following strict rules in exactly the same place as origanal chart..

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour ec.gif Size: 32 KB


I would like to say though that I would still have enterd the trade from the origanal chart show shown for the reasons that the entry was very close to the 50ma and the 50ma had a very nice slope and price was locked under the pivote line. my experiance told me that if you did not get involved with this you would have let a very powerful entry pass by you..

for the benefit of the thread I will only post charts that are 100% thead rules instead of advanced trades
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #528
  • Mar 13, 2012 2:38pm Mar 13, 2012 2:38pm
Quoting sidefx
Alpari are shite (although all my screenshots on here are from Alpari uk, but thats for reasons i wont go into here)... if youre in the UK (which i know you are side) GKFX spread bet broker are awesome, been with them for 2 years, great spreads, great mix of instruments and NO TAX !!! (if you consider a live account with them, contact me first, I can get some good deals)
Thanks for the rec mate, will check em out.[/quote]

Thanks SideFx you have just thrashed my broker to high heavens. I have had no problems with them so far. I will innvestigate gkfx though.

Olu
If you think you can or cannot do it you are correct
  • #529
  • Mar 13, 2012 3:41pm Mar 13, 2012 3:41pm
Quoting 60minuteman
I took the EURCAD short too today and just re-checked my snip of the chart from earlier....does anyone else have an issue with candles repainting?.!!!..my current hrly EC chart has different candles to the one i traded earlier (i'm using Alpari (UK))...
Alpari are shite (although all my screenshots on here are from Alpari uk, but thats for reasons i wont go into here)... if youre in the UK (which i know you are side) GKFX spread bet broker are awesome, been with them for 2 years, great spreads, great mix of instruments and NO TAX !!! (if you consider a live account with them, contact me first, I can get some good deals)[/quote]

Had a look on GKFX website and cant find any info on their spreads. Any idea where I can get this info ?
  • #530
  • Mar 13, 2012 3:44pm Mar 13, 2012 3:44pm
Quoting dan89
Alpari are shite (although all my screenshots on here are from Alpari uk, but thats for reasons i wont go into here)... if youre in the UK (which i know you are side) GKFX spread bet broker are awesome, been with them for 2 years, great spreads, great mix of instruments and NO TAX !!! (if you consider a live account with them, contact me first, I can get some good deals)
Had a look on GKFX website and cant find any info on their spreads. Any idea where I can get this info ?[/quote]

GKFX Spreads (fixed spreads too)

http://www.gkfx.co.uk/Cms_Data/Conte...eadbetting.pdf
tradewith60
  • #531
  • Mar 13, 2012 3:51pm Mar 13, 2012 3:51pm
Quoting Olu
Thanks for the rec mate, will check em out.
Thanks SideFx you have just thrashed my broker to high heavens. I have had no problems with them so far. I will innvestigate gkfx though.

Olu[/quote]

...have to say, in many yrs of trading this is the first time i've ever recorded candles repainting!...i've been trialling Alpari for just a few months. I normally execute with Oanda, who have their faults (widening spreads) but the execution is quick (enough for me). As i'm UK based, if i can find a quick SB broker that don't delay their quote, slip too much, i'm all ears! 60's rec of GKFX gives me confidence and i'll do some due diligence on their demo for a while.
  • #532
  • Mar 13, 2012 4:47pm Mar 13, 2012 4:47pm
Quoting NuBeez
buy stop at 68.05, stop @ 67.57,tp 69.05

http://img829.imageshack.us/img829/8379/nj2h.jpg
Closed +8
Consistency = Steady growth = Solid equity
  • #533
  • Mar 13, 2012 4:47pm Mar 13, 2012 4:47pm
Quoting NuBeez
Long filled @ 87.17
closed +17
Consistency = Steady growth = Solid equity
  • #534
  • Mar 13, 2012 5:02pm Mar 13, 2012 5:02pm
60mm or anyone...here is my concern, look at this NU short setup, but we are sitting on the ma. What do we do? ignore these or just trade the setup?

Daily down and H4 down.

http://img831.imageshack.us/img831/567/31153120.jpg

Your opinions welcome.
Consistency = Steady growth = Solid equity
  • #535
  • Mar 13, 2012 5:20pm Mar 13, 2012 5:20pm
Hi Nubeeze

Well done on your trades today I am sure youve learnt a lot about how important the angle of the 50ma is.

I will let 60mm answer your last question.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #536
  • Mar 13, 2012 5:22pm Mar 13, 2012 5:22pm
Quoting richdad711
thanks 645.

shorted at 3127. SL @ 3183 and TP @ 3074. GL
woke up today with 53 green pips. thanks 60mm for this great system.
  • #537
  • Mar 13, 2012 5:38pm Mar 13, 2012 5:38pm
Quoting NuBeez
60mm or anyone...here is my concern, look at this NU short setup, but we are sitting on the ma. What do we do? ignore these or just trade the setup?

Daily down and H4 down.

http://img831.imageshack.us/img831/567/31153120.jpg

Your opinions welcome.
Well my obvious concern would be the 2 long wicks, theres obviously some buying interest down there... rules wise it is valid, but i would like to see more of a bearish close on that signal candle.

For me I would wait for a better opportunity, but i make an effort to be cautious...
tradewith60
  • #538
  • Mar 13, 2012 5:39pm Mar 13, 2012 5:39pm
Quoting richdad711
woke up today with 53 green pips. thanks 60mm for this great system.
well done mate
tradewith60
  • #539
  • Mar 13, 2012 5:56pm Mar 13, 2012 5:56pm
Quoting Seabreeze
Hi Nubeeze

Well done on your trades today I am sure youve learnt a lot about how important the angle of the 50ma is.

I will let 60mm answer your last question.
Thanks Seabreeze! Still think I have a bit more to learn though but getting there.
Consistency = Steady growth = Solid equity
  • #540
  • Mar 13, 2012 6:01pm Mar 13, 2012 6:01pm
Quoting 60minuteman
Well my obvious concern would be the 2 long wicks, theres obviously some buying interest down there... rules wise it is valid, but i would like to see more of a bearish close on that signal candle.

For me I would wait for a better opportunity, but i make an effort to be cautious...
Thanks for responding 60mm! I had those concerns about the lower wicks as well. I think I will call it a day and see what tomorrow brings.

Good trades to everyone!
Consistency = Steady growth = Solid equity
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