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Buy sell line trading

  • #1,621
  • Jun 29, 2012 7:28am Jun 29, 2012 7:28am
AUD trade now just shy of 1:4, have moved stop to 1:2 (1.0204) and will continue to hold, market looks to be happy with todays events in Europe.
  • #1,622
  • Jun 29, 2012 7:40am Jun 29, 2012 7:40am
Quoting nige1
AUD trade now just shy of 1:4, have moved stop to 1:2 (1.0204) and will continue to hold, market looks to be happy with todays events in Europe.
Well done Nige

You really seem to have the knack for this system. I'm really struggling at the minute, every trade I take seems to go in the opposite direction, if I decide to ride it out it usually goes further against me, If I decide to exit then it turns around and I would have been in profit if I'd stayed in there.

I'm getting really frustrated

Martin
  • #1,623
  • Jun 29, 2012 7:42am Jun 29, 2012 7:42am
Quoting ukmartin
Well done Nige

You really seem to have the knack for this system. I'm really struggling at the minute, every trade I take seems to go in the opposite direction, if I decide to ride it out it usually goes further against me, If I decide to exit then it turns around and I would have been in profit if I'd stayed in there.

I'm getting really frustrated

Martin
post some charts martin, someone here will be able to help, probably something simple you're missing
tradewith60
  • #1,624
  • Jun 29, 2012 7:47am Jun 29, 2012 7:47am
Quoting nige1
AUD trade now just shy of 1:4, have moved stop to 1:2 (1.0204) and will continue to hold, market looks to be happy with todays events in Europe.
Stop now at 1:3, lets see where we can get to !
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  • #1,625
  • Edited 7:59am Jun 29, 2012 7:49am | Edited 7:59am
Here is my most recent trade, in fact i'm still in it at about 30 pips down and hoping it will reverse. You can see my sell line on the chart

Martin
  • #1,626
  • Edited 8:02am Jun 29, 2012 7:57am | Edited 8:02am
Quoting ukmartin
Well done Nige

You really seem to have the knack for this system. I'm really struggling at the minute, every trade I take seems to go in the opposite direction, if I decide to ride it out it usually goes further against me, If I decide to exit then it turns around and I would have been in profit if I'd stayed in there.

I'm getting really frustrated

Martin
Hey Martin,

Not sure I have any particular knack per say, just following the rules closely. Best piece of advice I can give is to go over some of the more recent posts from the regulars here particularly 60MM, California and lhDT and focus on the backtest, MM, R:R, expectancy points that are very well made, that is the real knack.

Regards.
  • #1,627
  • Jun 29, 2012 8:01am Jun 29, 2012 8:01am
1.gif

Was this a bad place to enter?
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  • #1,628
  • Jun 29, 2012 10:28am Jun 29, 2012 10:28am
Closed at 1.0236 for a 1:4 outcome, leaving me at 1:5.5 for the day.

Thanks again 60MM .
  • #1,629
  • Jun 29, 2012 1:13pm Jun 29, 2012 1:13pm
Quoting nige1
Closed at 1.0236 for a 1:4 outcome, leaving me at 1:5.5 for the day.
Nige

5.5R for one day is super. Even better, you are measuring your progress as a multiple of R (risk), and not in terms of pips or dollars.

Now we're talking!
  • #1,630
  • Edited 1:30pm Jun 29, 2012 1:18pm | Edited 1:30pm
Quoting nige1
Closed at 1.0236 for a 1:4 outcome, leaving me at 1:5.5 for the day.

Thanks again 60MM .
AWESOME !!! Today was a big day indeed, if you were at the right side of the market, it should a damn good day !

Unfortunately, I didn't take the train "on-time". My overall bias is still bearish and I wasn't enough confident to go long (end of week, month & quarter). I was wrong. This happens ...
Anyway, I'm in a small loss for today but overall, the month is pretty good.

Wish you all a nice week-end !

BTW : I longed E/U at .2650 (at be+1), I believe we will probably see a new high before market close. Will close it 5min before the shutdown if still running.
#### Follow me at @LioH_ on Twitter ... ####
  • #1,631
  • Jun 29, 2012 3:30pm Jun 29, 2012 3:30pm
Quoting sijeeva
We can create a skype chat room to discuss about a 60mm method during live sessions
It will be very useful in improving our trading

I dont no how to create and invite others so Pls create a skype




Any ideas
Hi there,

Have you figured out how to create a skype room yet. Bro, you want to trade the FX markets, you have to develope a sence for finding out how to do stuff on your own. So you create a skype room and invite people to it by adding thier user ID's to the room. Don't know how to do that, then go to help and put in some work bro, you can not always be spoon fed. As they always say, it comes down to how BAD you want it, so HOW BAD do you want to trade profitably erh?

I awaite your created skype room as well as others. No spoon feeding this time bro.


My two pips worth!
Born to rule my Economic World and Make a Difference!
  • #1,632
  • Jul 1, 2012 12:07pm Jul 1, 2012 12:07pm
KEEP IT SIMPLE...
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tradewith60
  • #1,633
  • Jul 1, 2012 9:58pm Jul 1, 2012 9:58pm
Quoting 60minuteman
KEEP IT SIMPLE...
Can't get much easier than this. Everyone should print the above post and have in front of you every time you trade this system

Thanks 60.
What you do is a reflection of you....what I do is a reflection of me.
  • #1,634
  • Jul 2, 2012 6:37am Jul 2, 2012 6:37am
Short entry on EJ, T2 on M15.
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  • #1,635
  • Jul 2, 2012 9:47am Jul 2, 2012 9:47am
Quoting nige1
Short entry on EJ, T2 on M15.
Closed for 3R.

Regards.
  • #1,636
  • Jul 2, 2012 10:18am Jul 2, 2012 10:18am
Quoting nige1
Closed for 3R.

Regards.
Nice trade! You have a high win rate on the 15min (i'm assuming you're posting all the trades you take), which pairs do you watch? Keep it up.
  • #1,637
  • Jul 2, 2012 10:24am Jul 2, 2012 10:24am
Well done Nige, another winner
  • #1,638
  • Jul 3, 2012 3:29am Jul 3, 2012 3:29am
Hi all,does anybody trade on the 4h time frame anymore it seems that all recent posts are on the 15m which i just cant fit into mt lifestyle.
thanks
  • #1,639
  • Jul 3, 2012 3:39am Jul 3, 2012 3:39am
Quoting sidefx
Nice trade! You have a high win rate on the 15min (i'm assuming you're posting all the trades you take), which pairs do you watch? Keep it up.
Thanks sidefx,

I have had a good hit rate on the 15min, particularly in the past week.

However, the real key for me on this timeframe has been the ability to get trades of 1:2 and 1:3 + in terms of R:R, meaning there is plenty of scope for the win% to drop and still remain profitable, and also it wont be a pshycological killer when the inevitable 4 or 5+ losing trade streak hits.

I continue to backtest mechanically both the 15m and 1hr, it is time consuming but very worthwhile. In terms of placing the stop at the 50% level on the 1hr this is slow as I need to drop to lower timeframes in certain instances to verify if the stop has been hit before or after the entry, makes things a little slower but is the only way to find conclusive evidence that it will lead to better results and also determine the frequency at which a move back to the 50% level after entry will continue to a stop at 100% of the signal candle. The potential to reduce the stop may increase the R:R significantly and allow for a lower win%, we shall see.

Regards.
  • #1,640
  • Jul 3, 2012 3:46am Jul 3, 2012 3:46am
Have taken this entry on EJ based on an EB, tight risk again aiming for a minimum of 1:2.

Sidefx - In relation to your earlier question I have been posting all of my recent trades. In terms of pairs I focus on the majors and a number of corsses, eurjpy, eurgbp, gbpchf, audjpy and also the dax, bund and brent futures contracts. This provides me with more than ample opportunities .

Regards,
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