- #1,683
- May 22, 2012 9:13am May 22, 2012 9:13am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
NU 15M Chart
)Moved SL to BE+5 (0.7620), which is slightly below the low (0.76211) of the current 15M candle.
- #1,684
- May 22, 2012 9:27am May 22, 2012 9:27am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
Hi LJ and the team 
Nice to see the thread going on and new people around here. Almost every day i see the same trades i took here aswell LOL. Good job on the NU long Balhana ,,, i took the first bounce for 15 pips
All the best!
Nice to see the thread going on and new people around here. Almost every day i see the same trades i took here aswell LOL. Good job on the NU long Balhana ,,, i took the first bounce for 15 pips
All the best!
- #1,685
- May 22, 2012 9:40am May 22, 2012 9:40am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
Hi LJ and the team
Nice to see the thread going on and new people around here. Almost every day i see the same trades i took here aswell LOL. Good job on the NU long Balhana ,,, i took the first bounce for 15 pips
All the best!
Seen you in J16's thread.
The NU trade I am currently in is very interesting now. Take a look at the 1M chart. Being stopped out is OK to me.
EDIT: My stop is at 1.7620, not 7629 (on the chart).
- #1,688
- May 22, 2012 10:23am May 22, 2012 10:23am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
Forgot to attach the 1M chart.
There is one more demand just below, but I didn't want to lose. Was it a smart decision? I don't know....
- #1,691
- May 22, 2012 4:26pm May 22, 2012 4:26pm
- Joined Oct 2007 | Status: Trader | 1,381 Posts
Balhana Amazing work!
- #1,695
- May 23, 2012 2:29am May 23, 2012 2:29am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
Hi Balhana,
I wld like to ask when we see a few demand zones just below (as in your trade example here), which zone do we take and where best to place the stop?
Btw is that an indi that draws the daily close & mark out? If it is, can u pls share the indi? Thks!
LJ,
can u share some experience here with regards to my question above based on Balhana's trade?
“Which (demand) zone do we take?”
You mean demand zones in my EJ trade? I took this trade based on supply. I don’t understand your question.
“Where best to place the stop?”
I sometimes change my SL while in the trade based on real-time price action. Take a look at my recent NU trade where I finally got stopped out at BE. I’m still trying to find out where best to hide my stop. If you talk about the EJ trade specifically, I will give you an update later with the chart. (I’m now working at the office
)Yes, I’m a big fan of daily closes simply because there are often times important SD zones near them. I manually draw them, no indi.
- #1,698
- Edited 9:21pm May 23, 2012 4:58am | Edited 9:21pm
- Joined Mar 2010 | Status: Trader | 1,635 Posts
I mean your NU trade, where u saw 2 demand zones alittle further down and adjusted your SL. Personally I never adjust my SL down (for long trade) once am in, its a dangerous thing to do IMO as once we're in a trade, we are sometimes not thinking straight, clouded by emotions. So I'll rather be stopped out and re-enter again if opportunity arises.
(EDIT: I try to not adjust my initial SL. The SL for the NU trade I adjusted was BE+5 after I closed 1/2. )
I usually adjust my SL based on real-time PA because I believe BE+1 without any logic is many times a waste of pips. But I still habitually do that.
Last night, I had to adjust my SL for the EJ trade before going to bed because I cannot monitor the trade while sleeping. I had two choices for my SL, A (initial SL) and B (above QM and 5M supply). I simply chose A (QM is a very strong pattern).
(EDIT: I'm talking about the stop of BE+1 after I closed 1/2 just like the NU trade)
The result is that I was lucky. Hit my TP2 (+75 pips).
- #1,700
- May 23, 2012 5:47am May 23, 2012 5:47am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
Closed partially @ flloorpivot S1, move SL to BE+1 ........
BTW, what do you mean by floorpivot? I have no idea what it is.