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EASY H1 trading using divergence and candle sticks

  • #1,001
  • May 16, 2012 10:44am May 16, 2012 10:44am
offcourse i exit to early.I have to do my homework about exits i cut my winners to early .It is because i love to scalping and that the nature of scalping.get out of trade with ok profits but with this i am profitable but need to workout my exits

Quoting Zokynho
I close usd/jpy +10
  • #1,002
  • May 16, 2012 12:30pm May 16, 2012 12:30pm
I got out of USD/JPY at +11 and EUR/USD at +8. Not too happy about EUR/USD but we learn all the time dont we?

Lets hope tomorrow will be as fruitful in great setups as today was.

Good luck everyone!
  • #1,003
  • May 16, 2012 1:17pm May 16, 2012 1:17pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY H1.PNG Size: 25 KB


Sorry I'm new here and I'm seeing a regular bullish divergence on GBPJPY H1 am I right?
  • #1,004
  • May 16, 2012 1:29pm May 16, 2012 1:29pm
Quoting ofl007
Attachment

Sorry I'm new here and I'm seeing a regular bullish divergence on GBPJPY H1 am I right?

Potentially yes, but u need to wait for the candle to close. We might get a double bottom here, and if we have a pinbar it would be nice. Otherwise, we may have to wait for bullish englufing candle, but it is really late in NY and market may not move well until Asian open maybe. However, we just have FOMC minutes and that maybe enough to move the market
  • #1,005
  • May 16, 2012 1:36pm May 16, 2012 1:36pm
Quoting PurePrice
Potentially yes, but u need to wait for the candle to close. We might get a double bottom here, and if we have a pinbar it would be nice. Otherwise, we may have to wait for bullish englufing candle, but it is really late in NY and market may not move well until Asian open maybe. However, we just have FOMC minutes and that maybe enough to move the market

I wasn't sure, but now it's clear, I have to wait the close of the candle (confirmation of the divergence) then the hammer or Bullish engulfish. Thank you !
  • #1,006
  • May 16, 2012 3:44pm May 16, 2012 3:44pm
one to watch...

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-1h-16052012-2140uk.jpg Size: 85 KB
If you think you can or cannot do it you are correct
  • #1,007
  • May 17, 2012 12:39am May 17, 2012 12:39am
Yeah it looks even more promising now.

Think I will give it a shot, sell limit @ 1.0112 and 1.0117 S/L 1.0135 TP1: 1.0158
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad0517.png Size: 191 KB
  • #1,008
  • May 17, 2012 1:17am May 17, 2012 1:17am
here is one trade from yesterday evening

cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd cad 1h.gif Size: 19 KB
Click to Enlarge Name: usd cad 5min.gif Size: 17 KB
  • #1,009
  • May 17, 2012 1:31am May 17, 2012 1:31am
Zokynho, I am impressed from your trading of this strategy. Do you only post your winning trades or you simply do not have any loosers. I would like to see a chart with a loosing trade too.
  • #1,010
  • May 17, 2012 1:34am May 17, 2012 1:34am
Hi,

Pureprice , Zokynho

Can you please tell me your exit strategy? i am always confuse about this.

Thanks.
  • #1,011
  • May 17, 2012 1:55am May 17, 2012 1:55am
hy ttitto,
it is quite difficult for me to explain you because i use different kind od money management.Mostly of my trades are winners but i have loosers (like every trader) which I recover so they are actually not loosers.so I can be more aggresive in this way of trading and don't have to worry about loosess.

Hintlease read posts of forexcube (he is maybe the best teacher about forex I known and alorente's recovery trades) this can be much of help to you and then you merge it with triple divergences and enter on smaller timeframes (great risk reward) you will also have free stress trading and winner.

If you watch my trades you see that i enter on 5 min so when everybody think should i enter or not on 1h i am with profit already and moving on

you can increase your knowledge about reading tasayc system of fxcube to get some ideas.he use divergence and post much examples + great teaching of mm.

i hope that help

regards

Quoting ttitto
Zokynho, I am impressed from your trading of this strategy. Do you only post your winning trades or you simply do not have any loosers. I would like to see a chart with a loosing trade too.
  • #1,012
  • May 17, 2012 2:06am May 17, 2012 2:06am
Umpats,

I have problems too with my exits i was scalper before and didn't change that mentality (altought I am working on it) so often i cut my winners but sometimes i let it and then price go in wrong direction so again i took smaller profits.

Hardest (1 million) questions on forex is when to exit.sometimes I watching strong s i r levels sometimes divergence of 5 min,but sometimes my screen time and knowledge help me but as I said still didn't find best exit strategy for this.

Pure price is using 1:1 or 1:2 risk reward i think but he uses different kind of mm

Maybe PurePrice can teach us about when to exit better?

regards

Quoting umpats
Hi,

Pureprice , Zokynho

Can you please tell me your exit strategy? i am always confuse about this.

Thanks.
  • #1,013
  • May 17, 2012 2:09am May 17, 2012 2:09am
I know that you trade with a special MM and I am not asking you to reveal the secret. But just posting the winners without losers is not correct and leave the impression in the other readers of the threat that this is the wholy grail. If you do not want to post charts at least please write with a text how many pips and from which pair you lost.
Thank you for the teaching recommendations. I will take a look at them.
  • #1,014
  • May 17, 2012 2:27am May 17, 2012 2:27am
HINT: Also I am using less hidden divergence than regular.It is called hidden because sometimes is hard to spot her so traders don't often see her.It means that trend will probably continue but you have to confirm those on other timeframes.I use her most of the times when after long strong trend price comes back little and then after forming probably will do double bottom .

I hope you understand my english isn't best

regards
Attached Image (click to enlarge)
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  • #1,015
  • May 17, 2012 2:40am May 17, 2012 2:40am
hmmmm..just example last night i enter on cable and go sleep. My tp was at +30 pips,price come to +25 and go down again i didn't close position.it is still open (currently -7 pips) but in long run cable will go up so if comes agains me i will add to positions or do analyses again so it is stupid to post my bad trades it will only confuse people because i do not accept lossess and people might think that this is nothing to do with strategy.

i am only trying to teach newbies to open their eyes and don't have hardcore rules.we must be adjust to market so i am trying to learn them how they have to think

strategy like holy grail don't exist only traders and their emotions plans and discipline.

sorry if i maybe confusing you tell me and i'll stop posting

regards


Quoting ttitto
I know that you trade with a special MM and I am not asking you to reveal the secret. But just posting the winners without losers is not correct and leave the impression in the other readers of the threat that this is the wholy grail. If you do not want to post charts at least please write with a text how many pips and from which pair you lost.
Thank you for the teaching recommendations. I will take a look at them.
  • #1,016
  • May 17, 2012 2:43am May 17, 2012 2:43am
...and please see some post of fxcube,he's explanations of mm and english is much better so you will understand what I am talking about....

regards

Quoting Zokynho
hmmmm..just example last night i enter on cable and go sleep. My tp was at +30 pips,price come to +25 and go down again i didn't close position.it is still open (currently -7 pips) but in long run cable will go up so if comes agains me i will add to positions or do analyses again so it is stupid to post my bad trades it will only confuse people because i do not accept lossess and people might think that this is nothing to do with strategy.

i am only trying to teach newbies to open their eyes and don't have hardcore rules.we must be adjust to market...
  • #1,017
  • May 17, 2012 2:52am May 17, 2012 2:52am
Quoting Zokynho
i do not accept lossess and people might think that this is nothing to do with strategy
That means you are trading live without stop loss and average down if you have a bad position?
  • #1,018
  • May 17, 2012 3:00am May 17, 2012 3:00am
I am still on demo with this trying to implement best money management for this but still practising till i find best solution...

regards



Quoting Ati_82
That means you are trading live without stop loss and average down if you have a bad position?
  • #1,019
  • May 17, 2012 3:02am May 17, 2012 3:02am
it is really hard to answear your questions,always different,how and what market tell me i try to see and adjust.

Quoting Zokynho
I am still on demo with this trying to implement best money management for this but still practising till i find best solution...

regards
  • #1,020
  • May 17, 2012 3:10am May 17, 2012 3:10am
Quoting Zokynho
it is really hard to answear your questions,always different,how and what market tell me i try to see and adjust.
No worries, testing different approaches is never a bad idea. Although please do comment on what happened with those trades which turned into a loss. As someone already pointed out, not sharing what happens with losers will create a false illusion. Handling losers are just as important as handling winners !

I'm grateful for your posts, keep up the good work
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