DislikedMy pending buy has been hit at 1.25778, 2 pips above the last minor high.Ignored
In at 1.25821. Nice candle action
DislikedHow did you get in at that price? What level broke to get you in there?Ignored
DislikedIn at 1.25821. Nice candle actionIgnored
DislikedHow did you get in at that price? What level broke to get you in there?
Quite often the price is already trading quite a long way from the ema and a stop 20 pips behind the ema would give you a stop loss...Ignored
DislikedHmm, hope I didnīt get the sytem wrong - my broker showed a pullbackcandle on the 29. and the 30. of aug. Both closed above the 10 ema. So i placed pending orders at the top of both pullback candles. The one from yesterday had a high of 1,2563 - come to think of it, I should have put the entry 2 pips above the high - will do that next time
Thank you for the clarification on the SL - makes sense.Ignored
DislikedOk, just seen it. That's a little aggressive. Generally better to wait for the last swing high/low to be taken out. I used the high of the last up move but even then there was a level just above I could have used. Looks like this time you will do ok though.Ignored
DislikedOk, got it - I think my thoughts were back to the start of the thread - as I recall the high/ low of the pullback candle was used (+2 pips). But the recent high/low swing as entry makes a bit safer entry point - I see that now.
Best regards to you allIgnored
DislikedThe original system was to trade the break of a pullback candle. The updated system clarifies it as the break of a swing high/low which is slightly different as sometimes that will be the same as the last pullback candle but sometimes it won't. Think of it as a break of the highest price reached so far in this mini trend on eurusd which I took to be the high of the candle on the 28th August.Ignored
DislikedMe too. I have absolutely no problem with that... I like 123 pattern trading.Ignored
DislikedThis is eurnzd. Wait for the price to start moving, start taking trades on the break outs of the swing lows. Stack the orders up. Close all trades when the ma is breached.
You don't need to watch the overall trend, ie the dominant trend, just trade the direction the price is moving and when the trend ends get out.
This won't always work this way but when it does you'll bank huge gains. When it doesn't you'll never lose too much. Cut your losses short, let your winners run.
A big thanks to Tradestar1 for lighting the way, proof again, if any...Ignored
DislikedHi I've been reading this over the last few days. It looks really interesting. Sorry but I've got another question about the stop loss.
If it's trailing 20 pips behind the 10 ema it could theoretically be hit and the candle could retrace and not close on the wrong side of the EMA. Is that correct? Thanks for your time.Ignored
Dislikedwhen you say MA is breech you mean our trailing stop has been hit or the candle has closed on the opposite side of the MA as our current position correct?Ignored
DislikedI'll have a question soon to follow with swing highs/lows and entries after candles have closed against the 10EMA and then gone to breach the previous low/high without a proper pullback after breech
Also the TP is 200 pips. I'm seeing moves that go on for more than that... are we not TP @ 200 anymore and just letting the trade ride? Because you said stack on the orders... so I'd assume we are now holding till an MA breech? I'm still confused about this. I know its important to keep our winners winner and to let them go as far as possible as well...Ignored