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EASY H1 trading using divergence and candle sticks

  • #1,021
  • May 17, 2012 3:14am May 17, 2012 3:14am
Thanks Ati

Quoting Ati_82
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
  • #1,022
  • May 17, 2012 3:28am May 17, 2012 3:28am
Anyone following this pair? There is a slight bullish divergence if you go by the low-prices but bears seem particularily strong in the downtrend.
  • #1,023
  • May 17, 2012 3:32am May 17, 2012 3:32am
Hi guys..

I've just came back from vacation, didn't trade for a while.. So how is the divergence trade doing for the past week or two, good? Saw usd was strengthening like hell lol..
  • #1,024
  • May 17, 2012 5:16am May 17, 2012 5:16am
here are some learning from fxcube about money management that can help you alot

LOM - 1 Step
Loss Order Management
Fragmentation
When you go in the market with 1 Lot so cut this 1 Lot into pieces, say 10 x 0.1 Lot Sizes.
When you trade normally 0.1 Lot so reduce to small pieces 10 x 0.01 Lot.

To do so has several benefits.
(A) You could go in with one (or several) 1/10 order(s) more and moreover when the price will turn in the counterpart direction.
(B) You could set your Stop Loss not so tight by giving the market its breath.
(C) The market signalizes different options of making a profit. Some Price Levels perform a higher probability. Not every market situation "promise" the same profit. So it's absolutely stupid to go in the market every time with the same Lot Sizes.
(D) When you don't have the time to monitor the market, you could set different input and output levels, dependent at which time frame you will go in and out of the market.



LOM - 2 Step
Loss Order Management
Right Calculation - Profit per Day

When I set the target of 1% Profit per Day, so I have to earn an infinite deal more, e.g. 1.5%, 2% or 3% every day.

These trades are balanced out the losses.if you have let's say 4% today you have room for losers. This could give an area of freedom. This psychological momentum could be advantageous to traders who don't like to be stressed when they trade the forex market.

95% of all these trades will turn in the winning zone sooner or later; - so why to kill it with the feeble-minded 2% rules before? There's no sense for me! When worse comes to worse you could hedge some of these ones. Think about it!

regards
  • #1,025
  • May 17, 2012 5:43am May 17, 2012 5:43am
hi,
Anyone here who has long term success with this type of sytem?
  • #1,026
  • May 17, 2012 6:52am May 17, 2012 6:52am
this pair is having a tough time getting above 0.8000 as it has been trying three times now, and looking like it may have divergence and pinbar on this 7:00 EST candle (10 minutes to go still before candle closes). It is worth watching this for a possible short setup.
  • #1,027
  • May 17, 2012 7:01am May 17, 2012 7:01am
in play and waiting for trade trigger
  • #1,028
  • May 17, 2012 7:02am May 17, 2012 7:02am
happening ... waiting for trade trigger
  • #1,029
  • May 17, 2012 7:07am May 17, 2012 7:07am
Quoting PurePrice
in play and waiting for trade trigger

Just now...

Olu
If you think you can or cannot do it you are correct
  • #1,030
  • May 17, 2012 7:24am May 17, 2012 7:24am
Quoting PurePrice
happening ... waiting for trade trigger
This one is toying with us...Gone the other way

Olu
If you think you can or cannot do it you are correct
  • #1,031
  • May 17, 2012 7:38am May 17, 2012 7:38am
Quoting Olu
This one is toying with us...Gone the other way

Olu
Yeah. Will be great if we can get a nice pinbar this hour but rr is quite low for the bulls..
  • #1,032
  • May 17, 2012 7:41am May 17, 2012 7:41am
Quoting PurePrice
this pair is having a tough time getting above 0.8000 as it has been trying three times now, and looking like it may have divergence and pinbar on this 7:00 EST candle (10 minutes to go still before candle closes). It is worth watching this for a possible short setup.
For the moment. This one is showing strength... I will be looking to take bearish divergence trades on this one from higher up as the long term trend is down

Olu
If you think you can or cannot do it you are correct
  • #1,033
  • May 17, 2012 7:42am May 17, 2012 7:42am
Quoting PurePrice
this pair is having a tough time getting above 0.8000 as it has been trying three times now, and looking like it may have divergence and pinbar on this 7:00 EST candle (10 minutes to go still before candle closes). It is worth watching this for a possible short setup.
A bit of gaps closing going on with eur/gbp

I'm long off s1 aud/jpy looking to tp1 then free trade with this one
  • #1,034
  • May 17, 2012 7:54am May 17, 2012 7:54am
Comments on the chart...

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: EuroAud-daily-17052012-1349uk.JPG Size: 81 KB
If you think you can or cannot do it you are correct
  • #1,035
  • May 17, 2012 8:00am May 17, 2012 8:00am
Quoting Olu
For the moment. This one is showing strength... I will be looking to take bearish divergence trades on this one from higher up as the long term trend is down

Olu

Agreed. GBP is getting hammered and thus no setups for now
  • #1,036
  • May 17, 2012 8:01am May 17, 2012 8:01am
Quoting Olu
Comments on the chart...

Olu
not sure if it's ready yet...hitting support & trend line atm with div supporting a bounce on the 1h.

next move down maybe
  • #1,037
  • May 17, 2012 8:06am May 17, 2012 8:06am
Quoting icarusfx
not sure if it's ready yet...hitting support & trend line atm with div supporting a bounce on the 1h.

next move down maybe
one to watch eh....

Olu
If you think you can or cannot do it you are correct
  • #1,038
  • May 17, 2012 8:09am May 17, 2012 8:09am
Quoting icarusfx
not sure if it's ready yet...hitting support & trend line atm with div supporting a bounce on the 1h.

next move down maybe
pic
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.JPG Size: 170 KB
  • #1,039
  • May 17, 2012 8:10am May 17, 2012 8:10am
Quoting Olu
one to watch eh....

Olu
yep
  • #1,040
  • May 17, 2012 9:40am May 17, 2012 9:40am
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY H1.PNG Size: 28 KB


A potential set up on EURJPY H1 I'll keep an eye on it!
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