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Attachments: Buy sell line trading
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Buy sell line trading

  • #2,101
  • Dec 6, 2012 8:16pm Dec 6, 2012 8:16pm
Ok i think i posted everything i could think of on the chart.This is hindsight and there will be winners and losers...and like 60 says just try to get as much as you can if their is runners.As for as entries and stops i prefer placing stop orders 1 pip + spread and negate if the next candle or bar doesn't fill. and bring stops to break even as i get half to 3/4 ways to target.I would say the majority of trades taken will not be runners.Anyway i hope this helps .Everyone have a good night.
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  • #2,102
  • Dec 6, 2012 9:26pm Dec 6, 2012 9:26pm
Quoting 60minuteman
yes I trade brent futures with it, works excellently on futures
Sixty, what time frames are u trading with the brent futures?

thanx
  • #2,103
  • Dec 7, 2012 3:47am Dec 7, 2012 3:47am
Quoting tex123
Ok i think i posted everything i could think of on the chart.This is hindsight and there will be winners and losers...and like 60 says just try to get as much as you can if their is runners.As for as entries and stops i prefer placing stop orders 1 pip + spread and negate if the next candle or bar doesn't fill. and bring stops to break even as i get half to 3/4 ways to target.I would say the majority of trades taken will not be runners.Anyway i hope this helps .Everyone have a good night.
Attachment
really nice Tex, so its the type 2 entry really, you are looking for a very strong close in the direction of the trend...

Seems like you have put in the time and found what works/ feels comfortable for you... what I have been telling everyone to do.I think when you get to that stage you've pretty much made it.
tradewith60
  • #2,104
  • Dec 7, 2012 10:12am Dec 7, 2012 10:12am
[quote=60minuteman;6272213]really nice Tex, so its the type 2 entry really, you are looking for a very strong close in the direction of the trend...

Seems like you have put in the time and found what works/ feels comfortable for you... what I have been telling everyone to do.I think when you get to that stage you've pretty much made it.[/quote

That is right 60 the type #2 with strong closes and impulse - engulfings you point out as well
  • #2,105
  • Dec 8, 2012 5:50pm Dec 8, 2012 5:50pm
Is it possible for someone to list some of Steve Primo's other stategies here? I think he has 6 in total? How are they different to this one?
  • #2,106
  • Dec 9, 2012 5:46am Dec 9, 2012 5:46am
Quoting Viv108
Is it possible for someone to list some of Steve Primo's other stategies here? I think he has 6 in total? How are they different to this one?
his emini one uses a retrace to the keltner channel... theres an rsi one too... I dont really have much details, maybe try his website specialist trading .com ???? or his facebook page
tradewith60
  • #2,107
  • Dec 9, 2012 7:50am Dec 9, 2012 7:50am
Quoting Viv108
Is it possible for someone to list some of Steve Primo's other stategies here? I think he has 6 in total? How are they different to this one?
I stumbled on to Primo’s stuff a while back and I am going by memory here so take everything with a grain, no, make that a block of salt. I think he has 7 strategies in total. Besides the strategies that 60 has outlined, Primo also has strategies using:

Bollinger Bands
RSI
Donchian Channel

His Bollinger and RSI strategies are best left alone. They are simply means of complicating coin toss results IMO. I have given them a whirl in the past on demo and found no advantage at all when employing them. His Donchian strategy is okay – you can easily suffer days or weeks without a valid trade and the risk:reward is, by design, very limited. Waiting endlessly for a limited profit trade is not my style.

He has another one I can’t remember off hand but I think it is another RSI system. All of his methods employ the 50 sma as a buy/sell line.

Primo’s two best and most consistent methods are detailed on this thread.
  • #2,108
  • Dec 9, 2012 12:37pm Dec 9, 2012 12:37pm
Thanks JLS. I'll stick to the simpler ones!
  • #2,109
  • Dec 9, 2012 7:34pm Dec 9, 2012 7:34pm
What do you think of this trade?
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  • #2,110
  • Dec 9, 2012 7:44pm Dec 9, 2012 7:44pm
Quoting kashTrader
What do you think of this trade?
Price is below MA 50 and very close it,so we can't take a buy here!
  • #2,111
  • Dec 10, 2012 6:25am Dec 10, 2012 6:25am
Quoting kashTrader
What do you think of this trade?
Your arrow indicates a "buy" but look at the trend lines - I personally wouldn't fight them, too strong.
  • #2,112
  • Dec 10, 2012 6:40am Dec 10, 2012 6:40am
Anybody get a buy entry on the AU?

jt
"Even if you fall down face first, you still went forward."
  • #2,113
  • Dec 10, 2012 6:46am Dec 10, 2012 6:46am
Quoting juicyt
Anybody get a buy entry on the AU?

jt
Hi juicyt,

please specify your timeframe...I look at H1, H4 and Daily.

Cheers,
Olarion
  • #2,114
  • Dec 10, 2012 7:03am Dec 10, 2012 7:03am
Anyone tookthis trade in this morning?
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  • #2,115
  • Dec 10, 2012 7:12am Dec 10, 2012 7:12am
Quoting kaka_ht
Anyone tookthis trade in this morning?
No! I like to see more retracement candles before entering.
  • #2,116
  • Dec 10, 2012 7:15am Dec 10, 2012 7:15am
Quoting Olarion1975
No! I like to see more retracement candles before entering.
I took it,because it also broken previous peak and I got some good pip!
  • #2,117
  • Dec 10, 2012 7:39am Dec 10, 2012 7:39am
Quoting kaka_ht
I took it,because it also broken previous peak and I got some good pip!
When trading any particular strategy you can enter a trade perfectly and lose money. You can also enter a trade poorly and make money. Based on the methods described in this thread it looks like you did the latter. Time and again it has been said on this thread to wait for a strong trend and a decent retracement for best entry. It is my opinion that this trade did neither. Though the trade may technically meet the entry criteria it doesn't look to me like an optimal entry.

Congrats on making some money with the trade -- don't make a habit of taking trades like that in the future and you will continue making money!
  • #2,118
  • Dec 10, 2012 8:01am Dec 10, 2012 8:01am
Quoting jls
When trading any particular strategy you can enter a trade perfectly and lose money. You can also enter a trade poorly and make money. Based on the methods described in this thread it looks like you did the latter. Time and again it has been said on this thread to wait for a strong trend and a decent retracement for best entry. It is my opinion that this trade did neither. Though the trade may technically meet the entry criteria it doesn't look to me like an optimal entry.

Congrats on making some money with the trade -- don't make a habit of taking...
great analysis jls
  • #2,119
  • Dec 10, 2012 8:20am Dec 10, 2012 8:20am
got a little GJ short in ASIA... H1... main trend is still long but was pretty much guaranteed to test the bottom again
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tradewith60
  • #2,120
  • Dec 10, 2012 8:45am Dec 10, 2012 8:45am
60MM -

Are your channel lines & yellow MA line explained somewhere. I don't recall seeing a post regarding them. I'm doing ok without extra indicators but the channel lines' crossing might help.
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