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Buy sell line trading

  • #1,261
  • Apr 23, 2012 5:21am Apr 23, 2012 5:21am
me too...it lokks like it's breaking down now
  • #1,262
  • Apr 23, 2012 6:39am Apr 23, 2012 6:39am
Im in long GJ type 2 (H4, alpari uk)
Twitter @raitchev
  • #1,263
  • Apr 23, 2012 9:00am Apr 23, 2012 9:00am
There is an engulfing forming on 4H USDCAD chart. Could be interesting for a 1:1 trade. Actually I am short from 0.99380. Anyone has an idea on this setup?
  • #1,264
  • Apr 23, 2012 9:49am Apr 23, 2012 9:49am
Quoting Lanes110
There is an engulfing forming on 4H USDCAD chart. Could be interesting for a 1:1 trade. Actually I am short from 0.99380. Anyone has an idea on this setup?
USDCAD been sideways since end of January... i wouldnt take any trades on that pair.
Twitter @raitchev
  • #1,265
  • Apr 23, 2012 10:01am Apr 23, 2012 10:01am
Quoting raitchev
Im in long GJ type 2 (H4, alpari uk)
stop at BE... i dont like whats happening.
Twitter @raitchev
  • #1,266
  • Apr 23, 2012 10:07am Apr 23, 2012 10:07am
What are the rules for taking profit. I'm not sure I understand. Can someone explain, please?

Thanks
  • #1,267
  • Apr 23, 2012 10:35am Apr 23, 2012 10:35am
60mm,

When I got a signal candle and if (and only) I feel confident, I place my pending order.

If, during the next bar, the pending isn't filled, do I need to delete it or I let it run until hit ?

Cheers,
Lh
#### Follow me at @LioH_ on Twitter ... ####
  • #1,268
  • Apr 23, 2012 12:36pm Apr 23, 2012 12:36pm
http://2ndskiesforex.com/strategies-...bar-reversals/
tradewith60
  • #1,269
  • Apr 23, 2012 3:46pm Apr 23, 2012 3:46pm
Quoting lhDT
60mm,

When I got a signal candle and if (and only) I feel confident, I place my pending order.

If, during the next bar, the pending isn't filled, do I need to delete it or I let it run until hit ?

Cheers,
Lh
Yes. If the next bar after the signal does not break the high/low of the signal candle then cancel the pending order
  • #1,270
  • Apr 24, 2012 12:34am Apr 24, 2012 12:34am
Took this trade from the daily Eur/Aud chart and 6 candles later it hit the 1/1 r/r.
It took a whole week. When trading off daily charts, you must be patient.
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  • #1,271
  • Apr 24, 2012 2:10am Apr 24, 2012 2:10am
Quoting AlexC
Took this trade from the daily Eur/Aud chart and 6 candles later it hit the 1/1 r/r.
It took a whole week. When trading off daily charts, you must be patient.
Love this chart, it's totally what this is all about, uptrend, retrace to the strong s/r, signal for continuation long...
tradewith60
  • #1,272
  • Apr 24, 2012 6:01am Apr 24, 2012 6:01am
Thanks 60m, just sticking to the rules on a higher tf.
  • #1,273
  • Apr 24, 2012 7:34am Apr 24, 2012 7:34am
Quoting 60minuteman
http://2ndskiesforex.com/strategies-...bar-reversals/
ThankXXX

Great link and blog. It has some really priceless "golden nuggets".

Thanks again.
J
  • #1,274
  • Apr 27, 2012 4:32pm Apr 27, 2012 4:32pm
New Video... little re-cap of the week and a few tips on finding strong signals...

http://vimeo.com/41175243
tradewith60
  • #1,275
  • Apr 27, 2012 6:50pm Apr 27, 2012 6:50pm
Quoting 60minuteman
http://2ndskiesforex.com/strategies-...bar-reversals/
Dear 60minuteman,
Thanks very much for your sharing. A lot of amazingly valuable stuffs there. Please forgive my curious questions: have you been in one of the advanced courses by Chris Capre? From where and when you have a breakthrough in trading as such you have now?
Accept as it is being!
  • #1,276
  • Apr 28, 2012 2:22am Apr 28, 2012 2:22am
Quoting Vnfx
Dear 60minuteman,
Thanks very much for your sharing. A lot of amazingly valuable stuffs there. Please forgive my curious questions: have you been in one of the advanced courses by Chris Capre? From where and when you have a breakthrough in trading as such you have now?
Hi Vn...

I didn't do the Chris Capre course, but no doubt it would be excellent, he is a very talented price action trader.

The improvement came in my trading from a few simple exercises. The first is planning, writing down strict rules about how i will trade, what my risk will be, my entries, exits, when I will trade... this is really key but most traders think they know it and ignore it... The whole process of keeping records on everything you do is so so important.

Secondly you need to find out what your flaws are... then you need to design exercises to break those bad habits.
I had 2, closing too early and breaking rules at the last minute. So to cure the closing too earlt I did an exercise for 1 week where I took every trade that was in the rules, and I just set them and walked away, letting them either hit TP or my SL.. When I saw the great results I no longer had fear about babysitting my trades because I BELIEVED in my strategy.

I have mentioned it before, but one of the best exercises is to take every set up for a week or preferably longer where you just follow the rules, record the data and review all your trades at the end of the week, the data is invaluable, the winners and losers will give you great information about where you can improve.
tradewith60
  • #1,277
  • Apr 28, 2012 2:24am Apr 28, 2012 2:24am
Quoting 60minuteman
I have mentioned it before, but one of the best exercises is to take every set up for a week or preferably longer where you just follow the rules, record the data and review all your trades at the end of the week, the data is invaluable, the winners and losers will give you great information about where you can improve.
10000% agree !
You learn more from your losers than your winners !
#### Follow me at @LioH_ on Twitter ... ####
  • #1,278
  • Apr 28, 2012 2:54am Apr 28, 2012 2:54am
Yeah. For example this week, if i let my trades hit either TP or SL, and not bothering "managing" them and moving the stops, i would have 2 winners and 1 loser. Instead i got 2 BE and 1 loser just because i was impatient...
Twitter @raitchev
  • #1,279
  • Apr 28, 2012 3:07am Apr 28, 2012 3:07am
little example of the take every set up exercise on AU last week... sticking to money management rules and taking profit at 1/1 would of 10% account growth... of course there were some nice 3/1 trades in there too...

Try it on the majors... food for thought eh?
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tradewith60
  • #1,280
  • Apr 28, 2012 4:57am Apr 28, 2012 4:57am
Quoting 60minuteman
little example of the take every set up exercise on AU last week... sticking to money management rules and taking profit at 1/1 would of 10% account growth... of course there were some nice 3/1 trades in there too...

Try it on the majors... food for thought eh?
Whenever I want to test a strategy , I stick to one pair and to know in and out of that strategy and this helps me very well .

Thanks for your valuable info and strategy .

mixter
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