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Buy sell line trading

  • #1,961
  • Sep 21, 2012 7:10am Sep 21, 2012 7:10am
Quoting California
60

Recently, I saw Steven's webinars at www.fxstreet.com and have been trading his strategy #4, which is your Entry #2, I believe. I actually prefer the consistency of Entry #2 over the engulfing bar strategy, and do not take EB setups as much now unless they are with the Entry #2. I trade another of Steven's strategies which is not covered in the webinars, and it is mint.

Long live PA!
Hi California, I was re-reading this thread, especially 60 min. posts, and your posts, and a messege posted for you has caught my attention. I bought Steven's book and I've watched some of his webinars, from fxstreet and from his web. Can you tell us which is the other system you are trading?
  • #1,962
  • Sep 25, 2012 9:39am Sep 25, 2012 9:39am
Hi 60minuteman,

What's your experiance so far with GKFX for Spread Betting?


Quoting 60minuteman
I'm using a uk spread betting broker, not sure about in the states mate...

It's gkfx and its BRENT ICE futures
  • #1,963
  • Oct 14, 2012 9:31am Oct 14, 2012 9:31am
Quoting tradewiser
Hi 60minuteman,

What's your experiance so far with GKFX for Spread Betting?
strange? 60m is 3 weeks inactive wonder y?
Trade As A Sniper
  • #1,964
  • Oct 14, 2012 12:43pm Oct 14, 2012 12:43pm
Quoting pama.fx
strange? 60m is 3 weeks inactive wonder y?
Hopefully, he made countless millions in forex, bought a tropical island paradise in the South Pacific and is having his every whim and fancy catered to by a harem of Polynesian beauties.

As for me, it is back to buy/sell line trading so I can emulate the fantastic success that my imagination has bestowed upon him.
  • #1,965
  • Edited 2:08am Oct 18, 2012 1:56am | Edited 2:08am
im in Asia, travelling around Thailand.... very nice getting the London open around 1.30 in the afternoon..

Just been taking some simple h1 engulf's, the basic strategy is very nice indeed, especially if you can let them run.

If I miss the move on h1 i have been getting the commando entry when h4 has closed back into the trend..

All very relaxed and only a few hours at the charts around the session opens..

Anyway, just thought i should make a post.... maybe post a few charts if i can work out how to use bloody windows!!!
tradewith60
  • #1,966
  • Oct 18, 2012 2:01am Oct 18, 2012 2:01am
Quoting 60minuteman
im in Asia, travelling around Thailand....
Welcome here ... enjoy your holidays !
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,967
  • Oct 18, 2012 2:37am Oct 18, 2012 2:37am
OIL H1...
Attached Image (click to enlarge)
Click to Enlarge Name: oilh1.JPG Size: 87 KB
tradewith60
  • #1,968
  • Oct 18, 2012 3:29am Oct 18, 2012 3:29am
Quoting 60minuteman
OIL H1...

stopped B.E
tradewith60
  • #1,969
  • Oct 29, 2012 8:15pm Oct 29, 2012 8:15pm
Hi 60MM:
First off, thanks for everything you have contributed, it's been fantastic. A basic question please. 1st candle closes and second candle opens at 1st candle close and moves in one direction only. It engulfs one direction of the previous candle but never moves down to engulf the first candles bottom, does that qualify as engulfing? Hope that makes sense and also are you still in a skype room and is there room for anyone else? Thanks for your help.

Jim
  • #1,970
  • Oct 29, 2012 8:20pm Oct 29, 2012 8:20pm
Hi 50MM:
Another question, sorry. On the 15 minute commando, you say to wait for 3 candles to close below the swing high before looking for an entry. Can you use price breaking the high of the 3rd candle for your entry of should you wait for the break of the 4th candle? Thanks again for your time and patience.

Jim
  • #1,971
  • Oct 30, 2012 6:05am Oct 30, 2012 6:05am
Quoting bigjim1958
Hi 60MM:
First off, thanks for everything you have contributed, it's been fantastic. A basic question please. 1st candle closes and second candle opens at 1st candle close and moves in one direction only. It engulfs one direction of the previous candle but never moves down to engulf the first candles bottom, does that qualify as engulfing? Hope that makes sense and also are you still in a skype room and is there room for anyone else? Thanks for your help.

Jim
Hi everyone:
With 60 MM on vacation, would any of the more experienced traders be willing to give me some advise on the above question? Thanks for your help.

Jim
  • #1,972
  • Oct 30, 2012 12:47pm Oct 30, 2012 12:47pm
Quoting bigjim1958
Hi everyone:
With 60 MM on vacation, would any of the more experienced traders be willing to give me some advise on the above question? Thanks for your help.

Jim
Hi Big Jim - It is my understanding that if it engulfs the entire body, not including the wicks it is an "engulfing" candle - for this strategy.

Tom
  • #1,973
  • Oct 31, 2012 4:59pm Oct 31, 2012 4:59pm
Very slight variances in the size and shape of the candles will not decide if u win or lose....

The secret is to remember what our original aim was....

'we are looking to enter an existing trend after a retrace"

The candle is just a hint, clue, that the buyers/sellers have returned to the market...
tradewith60
  • #1,974
  • Oct 31, 2012 9:12pm Oct 31, 2012 9:12pm
Quoting 60minuteman
Very slight variances in the size and shape of the candles will not decide if u win or lose....

The secret is to remember what our original aim was....

'we are looking to enter an existing trend after a retrace"

The candle is just a hint, clue, that the buyers/sellers have returned to the market...
Thanks 60MM, I was thinking that but appreciate the confirmation. Are you still doing a skype room? Thanks again.

Jim
  • #1,975
  • Nov 1, 2012 8:15am Nov 1, 2012 8:15am
Do most of you do continuation trades on the same pair? For example, you have a buy signal.....market goes in your favor 50 pips, pulls back, but is still above the SMA then you get another engulfing candle and the market continues in that direction. Do you just add to your position or will you not take the continuation trades?
  • #1,976
  • Nov 1, 2012 12:32pm Nov 1, 2012 12:32pm
Took EU and OIL shorts on h1 engulf today,
cant post charts im afraid, keyboards dead,
but you should be able to see them
tradewith60
  • #1,977
  • Nov 1, 2012 12:42pm Nov 1, 2012 12:42pm
Quoting Rejep
Do most of you do continuation trades on the same pair? For example, you have a buy signal.....market goes in your favor 50 pips, pulls back, but is still above the SMA then you get another engulfing candle and the market continues in that direction. Do you just add to your position or will you not take the continuation trades?

I don't personally.... could work really well in the right market conditions... although its been some time since we have had nice sustained trends...back in May it would of worked a dream.
tradewith60
  • #1,978
  • Nov 1, 2012 12:45pm Nov 1, 2012 12:45pm
off topic analysis stuff, but doesn't that EU monthly chart look like a lovely pull back in that downtrend...

Wouldn't be a bad idea to watch EU daily for bearish engulfs to find the top (probably after the election i'd guess)
tradewith60
  • #1,979
  • Nov 1, 2012 12:57pm Nov 1, 2012 12:57pm
managed to get a screenshot

OIL h1 short

going back to yesterdays discussion about candle patterns, this engulf was weak, but previous move and location were strong, always gauge my trades on the complete picture
Attached Image (click to enlarge)
Click to Enlarge Name: 1351792339-clip-22kb.png Size: 22 KB
tradewith60
  • #1,980
  • Nov 2, 2012 12:02pm Nov 2, 2012 12:02pm
Hi mate. I've been using this sytem on the H4 charts and its awesome.

DO you think it would work on stocks? if so what timeframe would be ideal?
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