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When trading with sqDynamicBreakoutBox indicator, do I use buy/sell limit order, or buy/sell stop order?

How do you all trade?
Trade set completed on EU with (small) profit.

Thanks for the assist with trade MM Sue I need to keep tweaking but it really helped my mind set in the trade.

Helped loads as my usual approach may have ended with a small loss. This has boosted my confidence in the stairstep even more.

Back to CZ hunting
I never know what's gonna happen, so how can I be wrong?
Glad I could be of assistance Casey. I thought EU was itching to break out :-)

Keep tweaking the settings and find something you are comfortable with. Make your own system and you will have full confidence in it. That's why I love what FxH has given us here: it's the perfect foundation for us to do that.

Sue


Quoting caseypin
Trade set completed on EU with (small) profit.

Thanks for the assist with trade MM Sue I need to keep tweaking but it really helped my mind set in the trade.

Helped loads as my usual approach may have ended with a small loss. This has boosted my confidence in the stairstep even more.

Back to CZ hunting
+120
Attached Image (click to enlarge)
Click to Enlarge Name: GU 120802.GIF Size: 86 KB
Quoting zhexiang
When trading with sqDynamicBreakoutBox indicator, do I use buy/sell limit order, or buy/sell stop order?
How do you all trade?
Please read Page 1 -197 like me and everybody else here in the thread. Thank you. Its not that difficult. Just read.
Thanks FxH for this great thread and all explanations.
Jim
Hi Folks !

Been awhile since my last visit to the thread.

I stopped by to say that the method that ForexHard created goes beyond the currency market.

I have been trading the same exact philosophic approach using options on the FTSE index for two months now.

And boy i have to say: it works like a beauty!! So not that he (FxH) needs any more congratulations, but i have to say this out loud to him: you have changed my view and perspective of the markets in such a positive way my friend!

Thank You!
Quoting zhexiang
When trading with sqDynamicBreakoutBox indicator, do I use buy/sell limit order, or buy/sell stop order?

How do you all trade?
This is not a thread type question, so I will explain.

Breakouts need the order to be a Stop order, because you are wanting price to continue beyond your buy or sell level.

Limit orders are set when you want price to reverse, so a buy limit order is set at a level where you expect price to go down to before going back up and the opposite for a sell limit order.

Now for the rest please read the thread.

Larry

PS. I am in throws of moving house next 2 weeks I will not be doing much else
End-of-week breakout winding up...
Attached Image
To improve is to change. To perfect, is to change often.
Just a quick Q. Obviously got the EU and GU CZ formed and both look good. But I haven't traded this strategy during NFP before and just wondering if anybody had any thoughts on it?

I see FXH was looking at the GU CZ so I've put my orders in but obviously NFP can be fun sometimes.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nfp gu cz.gif Size: 13 KB
I never know what's gonna happen, so how can I be wrong?
Quoting caseypin
Just a quick Q. Obviously got the EU and GU CZ formed and both look good. But I haven't traded this strategy during NFP before and just wondering if anybody had any thoughts on it?

I see FXH was looking at the GU CZ so I've put my orders in but obviously NFP can be fun sometimes.
As a rule I try to stay away from the market on NFP days as I've been caught out with widening spreads in the past.

If I decide to trade, I'll wait until the first couple of minutes of madness dies down, then see if price is still in a good position to take a trade (i.e. still within the CZ or retracing back to one edge for a clear bounce).

My advice if you're unsure would be to watch carefully from the sidelines or trade it on demo (but make sure your demo account has comparable spreads to a live account).

Sue
This is a wonderful thread.

Thanks for FxH for keeping it on topic and focused too, from this wonderfully simple concept there's many ways to trade it.

I did have a basic question... is there is a simple indicator or tip to identify consolidation zones without having to have all the charts open all the time and monitor them all?

Thank you to everyone.
Quoting r2997790
This is a wonderful thread.

Thanks for FxH for keeping it on topic and focused too, from this wonderfully simple concept there's many ways to trade it.

I did have a basic question... is there is a simple indicator or tip to identify consolidation zones without having to have all the charts open all the time and monitor them all?

Thank you to everyone.
Personally I limit my trading of this strategy to Gu or EU (UChf).
If you go looking for every CZ available you will go mad trying to trade them all as they will probably break out at more or less the same time.

The pairs you choose should have some relevance to the time zone that you are in and therefor able to trade.

Larry
Quoting LarryK
Personally I limit my trading of this strategy to Gu or EU (UChf).
If you go looking for every CZ available you will go mad trying to trade them all as they will probably break out at more or less the same time.

The pairs you choose should have some relevance to the time zone that you are in and therefor able to trade.

Larry
Couldn't agree with Larry more. There are huge benefits to focusing on one pair at a time and learning all it's characteristics. When you feel that you know a pair inside out, then think about adding another.

I'm only live trading Cable at the moment, and I won't be adding any other pairs until I feel that I really understand it. If that takes another year, or two years, then so be it.

Sue
Quoting Swg123
+120
And all the way back again.
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thanks to every one that put all this together. i have been trding for 10 +yrs but i am enjoying this system i am trading the eu usd 15 min chart with a close eye on the gbp usd15 min . i did make one twek on the ind. changed the auto box range to false. if i want to make more money I

TRADE BIGGER LOTS NOT MORE PAIRS
I sure would thank any one that would post the link or page where i could find the EA than will enter the pending orders for me. PLEASE and THANKS>......Texan
Watch this space. Big announcement expected in a few days...
To improve is to change. To perfect, is to change often.
You mean you have Obama's birth certificate????

Romney's Tax records????

LOL
Even better. I've learned that if we filter entries with hammers and dojis we increase the win ratio by... no, wait, that's not it. I guess you'll have to wait for a few days more. LOL
To improve is to change. To perfect, is to change often.
G/U comes alive early this week, and we're off!...
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To improve is to change. To perfect, is to change often.
Quoting forexhard
G/U comes alive early this week, and we're off!...
The new indy will take all the fun out trading!!

One glance says it all.

M.
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