Hi HB, just a quick question. I have been searching the thread but can't find your post where you discuss the move from H4 to H1. Why did you make the change? Just asking because as a part time trader it isn't always easy to keep an eye on the H1. Thanks!
- | Commercial User | Joined May 2011 | 3,012 Posts
Oh how I have missed you guys - especially you, HB! But I'm back and ready to jump back into the fray - pips are flying and my net is back open again...
Speaking of which, I'm considering a possible short entry on the audjpy. The Daily downtrend is in effect, and the hourly has pulled back to the 100 sma with a stoch cross downward - HB what do you think? Am I barking up the right tree? There would appear to be at least 400-500 pips before the next support level on the Daily chart.
Thanks,
I'm looking about 6 hours after your post so it's a bit lame but it's breaking higher now. The daily stochs have actually crossed at the bottom on my broker so no shorts for now.
hey, guys!
Been a while, I missed you! I'm currently doing an internship, so I missed out on some nice opportunities, e.i. shorting EURJPY a week ago
I'm still short of USDJPY, around 100 pips in. I sold some more (pyramid) last night on pull back (I'm betting it on breaking 78 support level that it's been recently flirting with). The pair is nor really volatile, but recent Bernanke testimony made me bearish on a pair.
How are you guys? Are you holding any nice trades?
Been a while, I missed you! I'm currently doing an internship, so I missed out on some nice opportunities, e.i. shorting EURJPY a week ago
I'm still short of USDJPY, around 100 pips in. I sold some more (pyramid) last night on pull back (I'm betting it on breaking 78 support level that it's been recently flirting with). The pair is nor really volatile, but recent Bernanke testimony made me bearish on a pair. How are you guys? Are you holding any nice trades?
Here's a post in my other thread that might be of interest...
http://www.forexfactory.com/showthre...24#post5885324
About the trades. My USDJPY trade hit SL, I gained around 30-40 pips net {70-30(40)}. Should've have waited for a bigger move, not just shorting on a pull back.
I've shorted EURGBP @ ~ 0.782 lvl, SL: ~ 0.784. Unfortunatly I can't give the exact numbers because I'm at work
Hey Hugh Briss and all the other guys here,
I read FF for over 2 years now whitout beeing registered, and this thread was the reason to do this.
The last 1,5 years I traded almost even the same system like you do, also with Heiken Ashi, Stoch and MA. Now even with constant profit
The differences between yours and mine are, I use a 200 MA, different TF and a complete other method for SL and TP.
I use the Daily TF for entry and the last Swing for SL's. What means in pips between 80 and 160.
My TP strategy depends on how I see and plan the trade befor I enter. Normaly when there is a good strong trend into my trading direction, and on weekly and daily TF I see the same, I have a initial TP of 2x SL. When the trend is not such clear, or there is a resistance I use 1x SL for TP.
But this TP's arent fix, I manage my trades every evening befor the candles close by checking PA. Lets say the price is reaching my inital TP Zone of 1x SL but I see a strong movement in PA, I would change TP to 2x SL and so on.
With SL I'm doing nearly the same. When there is good movement my SL's are wider and when it slows down I use a tight one.
PA is managing my trades :nerd:
Personaly for me this works quit better than having a static rule for SL and TP. When I trail my SL a spike could hit it. With a fix TP, lets say RR 1:1, its annoying when the move goes for 1:3 or more, etc...
What do you think about this method?
steinhaus
I read FF for over 2 years now whitout beeing registered, and this thread was the reason to do this.
The last 1,5 years I traded almost even the same system like you do, also with Heiken Ashi, Stoch and MA. Now even with constant profit
The differences between yours and mine are, I use a 200 MA, different TF and a complete other method for SL and TP.
I use the Daily TF for entry and the last Swing for SL's. What means in pips between 80 and 160.
My TP strategy depends on how I see and plan the trade befor I enter. Normaly when there is a good strong trend into my trading direction, and on weekly and daily TF I see the same, I have a initial TP of 2x SL. When the trend is not such clear, or there is a resistance I use 1x SL for TP.
But this TP's arent fix, I manage my trades every evening befor the candles close by checking PA. Lets say the price is reaching my inital TP Zone of 1x SL but I see a strong movement in PA, I would change TP to 2x SL and so on.
With SL I'm doing nearly the same. When there is good movement my SL's are wider and when it slows down I use a tight one.
PA is managing my trades :nerd:
Personaly for me this works quit better than having a static rule for SL and TP. When I trail my SL a spike could hit it. With a fix TP, lets say RR 1:1, its annoying when the move goes for 1:3 or more, etc...
What do you think about this method?
steinhaus
- | Commercial User | Joined May 2011 | 3,012 Posts
Hey Hugh Briss and all the other guys here,
I read FF for over 2 years now whitout beeing registered, and this thread was the reason to do this.
The last 1,5 years I traded almost even the same system like you do, also with Heiken Ashi, Stoch and MA. Now even with constant profit
The differences between yours and mine are, I use a 200 MA, different TF and a complete other method for SL and TP.
I use the Daily TF for entry and the last Swing for SL's. What means in pips between 80 and 160.
My TP strategy depends on how I see and plan...
In terms of trailing stops there is an EA on the thread that trails behind an ma by a certain buffer but that can also be set to close the position if the price closes the wrong side of the ma. This is useful to keep you away from spikes but still protect your profit.