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Attachments: Buy sell line trading
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Buy sell line trading

  • #1,181
  • Apr 12, 2012 4:04pm Apr 12, 2012 4:04pm
Don't know if this is a good trade... but seems so.

1- Bearish engulfing... under the 50ma
2- Also fits the second kind of trade... bar closed under 20% of bottom after signal bar on previous candle
3- The bar low was broken on the next candle

I entered after a retrace

Love to hear comments. Thanks

elway
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  • #1,182
  • Apr 12, 2012 4:13pm Apr 12, 2012 4:13pm
Usd/Chf trade today. Daily support line held.
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  • #1,183
  • Apr 12, 2012 4:32pm Apr 12, 2012 4:32pm
Quoting AlexC
Usd/Chf trade today. Daily support line held.

Nice trade mate... no denying who was in control of the market there...

Did you TP down at the daily line?
tradewith60
  • #1,184
  • Apr 12, 2012 5:46pm Apr 12, 2012 5:46pm
Quoting 60minuteman
Nice trade mate... no denying who was in control of the market there...

Did you TP down at the daily line?
Thanks 60. Price broke below the signal bar and my entry was late but higher, close to the 50sma which was good.
Sometimes you can't catch it early but knowing the direction you can get a better entry with a tighter s/l.
I t/p near the daily line cause it spiked down and reversed. I was aiming for a 1/1. It might go tomorrow but... profit is profit.
  • #1,185
  • Apr 12, 2012 5:52pm Apr 12, 2012 5:52pm
Quoting elway
Don't know if this is a good trade... but seems so.

1- Bearish engulfing... under the 50ma
2- Also fits the second kind of trade... bar closed under 20% of bottom after signal bar on previous candle
3- The bar low was broken on the next candle

I entered after a retrace

Love to hear comments. Thanks

elway
I trade with MAs, too. What are MAs you use?
Trade As A Sniper
  • #1,186
  • Apr 12, 2012 6:45pm Apr 12, 2012 6:45pm
Hi 60:
Had a quick question, I watched the webinar by Steve Primo and didn't notice any mention of your alternative entry. Did you sign up for his teaching and he mentioned this or is this something that you added yourself? Thanks for starting this thread and continued success.

Jim
  • #1,187
  • Apr 12, 2012 6:54pm Apr 12, 2012 6:54pm
Quoting bigjim1958
Hi 60:
Had a quick question, I watched the webinar by Steve Primo and didn't notice any mention of your alternative entry. Did you sign up for his teaching and he mentioned this or is this something that you added yourself? Thanks for starting this thread and continued success.

Jim
Hi Jim...

These bits are my additions..

Reading the higher tf trend and adding the daily/weekly s/r lines.

everything else is Steve Primo....

I spent over a year trading essentially the same system as this but the Steve Primo elements have made me far more consistent... and relaxed!
tradewith60
  • #1,188
  • Apr 12, 2012 8:13pm Apr 12, 2012 8:13pm
Quoting bigjim1958
Hi 60:
Had a quick question, I watched the webinar by Steve Primo and didn't notice any mention of your alternative entry. Did you sign up for his teaching and he mentioned this or is this something that you added yourself? Thanks for starting this thread and continued success.

Jim
Was there a link posted for this Steve Primo webinar?? I must have missed it. Someone have it handy or shold I just google for it?
Thanks in advance if you have it.
  • #1,189
  • Apr 12, 2012 9:26pm Apr 12, 2012 9:26pm
Quoting dmostpips
Was there a link posted for this Steve Primo webinar?? I must have missed it. Someone have it handy or shold I just google for it?
Thanks in advance if you have it.
Here you go, on page 5.
http://www.forexfactory.com/showthre...53#post5445053
  • #1,190
  • Apr 12, 2012 10:05pm Apr 12, 2012 10:05pm
Quoting AlexC
Here you go, on page 5.
http://www.forexfactory.com/showthre...53#post5445053
Thanks for that - I do recall seeing the link but hadn't gone back too view it. Will now.
  • #1,191
  • Apr 13, 2012 12:07am Apr 13, 2012 12:07am
Quoting pama.fx
I trade with MAs, too. What are MAs you use?
7ema
20ema
50sma
  • #1,192
  • Apr 13, 2012 12:39am Apr 13, 2012 12:39am
I place a pending order and hope it works.

http://www.forexfactory.com/attachme...1&d=1334295362
Accept as it is being!
  • #1,193
  • Apr 13, 2012 1:37am Apr 13, 2012 1:37am
Quoting Vnfx
I place a pending order and hope it works.

http://www.forexfactory.com/attachme...1&d=1334295362
Hi,

Yes USDJPY,AUDJPY,GBPJPY showing type 2 signal in H4 chart.I entered all this three paris.

Regards,
Bedayan.
  • #1,194
  • Apr 13, 2012 9:23am Apr 13, 2012 9:23am
Thats the trade that i took today. +2%

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Twitter @raitchev
  • #1,195
  • Apr 13, 2012 9:25am Apr 13, 2012 9:25am
Quoting raitchev
Thats the trade that i took today. +2%

Attachment
well done mate... beautiful!!!!
tradewith60
  • #1,196
  • Apr 13, 2012 9:27am Apr 13, 2012 9:27am
ej h4

heading to tp, type 2 entry, very late... Again !!!
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tradewith60
  • #1,197
  • Apr 13, 2012 7:42pm Apr 13, 2012 7:42pm
Quoting raitchev
Thats the trade that i took today. +2%

Attachment
I took this trade also BUT, once the entry candle had closed I moved my stop to the high of that candle and got stopped out !

I did the same on CHFJPY, although that was a slightly riskier trade as it was at a 4H S&R level (60MM I assume we should be looking at these also when placing a trade, ie could still take them but will be riskier)

Lesson is, trust the strategy and your analysis, dont move the stop until you are at least 0.5:1 RR in profit and close half the trade if you do.
If you are comfortable with the level of risk when placing the stop at the opening of the trade then leave it until you are well in profit. If you are not comfortable with the level of risk then dont place the trade.

Still in profit for the week but the big wins earlier in the week allowed me to increase my lot size for the trades that lost - DOH !!!

Like this system though, very simple, I have been trading PA and S&R for some time and just about breaking even, this thread has made evrything clear for me.

Would love it if someone could write an indicator with email alert for type 2 entry.

Dave
  • #1,198
  • Apr 14, 2012 2:52am Apr 14, 2012 2:52am
Quoting dpeters
I took this trade also BUT, once the entry candle had closed I moved my stop to the high of that candle and got stopped out !

I did the same on CHFJPY, although that was a slightly riskier trade as it was at a 4H S&R level (60MM I assume we should be looking at these also when placing a trade, ie could still take them but will be riskier)

Lesson is, trust the strategy and your analysis, dont move the stop until you are at least 0.5:1 RR in profit and close half the trade if you do.
If you are comfortable with the level of risk when placing...

good post Dave...

since starting the thread I personally have been having better results by not moving my stop at 0.5/1 r/r... maybe its because i'm more confident, maybe its because the trending set ups have been better...

If you want to increase risk, perhaps wait until the end of the week, go through your trades, then make a decision... you have to constantly monitor your emotions and try to eliminate them from your trading... the obvious 3

greed>impatience>fear....

Thats my opinion and its working for me.

good luck next week Dave!
tradewith60
  • #1,199
  • Apr 14, 2012 3:30pm Apr 14, 2012 3:30pm
i like to your strategy as a new trader . i need to know how to get 50sma line?
  • #1,200
  • Apr 14, 2012 7:07pm Apr 14, 2012 7:07pm
Quoting dpeters

Would love it if someone could write an indicator with email alert for type 2 entry.

Dave

Couldn't you just use fxtr51's
http://www.forexfactory.com/images/attach/ex4.gif ! BuySell_line_V11.ex4 ?

Set the BE and IB to false and the Alternative to true
and also email alert to true. Should work I would think

Sh


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