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Buy sell line trading

  • #2,121
  • Dec 10, 2012 8:52am Dec 10, 2012 8:52am
SP500 H1 trade, took entry on a retrace, bit of a rule break there but i had sp pegged as a long and wasnt gonna miss it
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tradewith60
  • #2,122
  • Dec 10, 2012 9:39am Dec 10, 2012 9:39am
Quoting piprac
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.
Hi Piprac, theyre from an old SR system, but i leave them on because im used to them being there and i find it easier to see s/r... they bear no relevance to buy sell
tradewith60
  • #2,123
  • Dec 10, 2012 10:00am Dec 10, 2012 10:00am
Quoting 60minuteman
got a little GJ short in ASIA... H1... main trend is still long but was pretty much guaranteed to test the bottom again
Very nice with an engulfing on bodies and very strong close.
  • #2,124
  • Dec 10, 2012 10:10am Dec 10, 2012 10:10am
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...
Yes,I agree with you,but sometime we can take some CT entries,of course it will be more risky!So I reduce my size in situations like thí!
  • #2,125
  • Dec 10, 2012 10:11am Dec 10, 2012 10:11am
Quoting tex123
Very nice with an engulfing on bodies and very strong close.

yeah Tex, thought you'd like that one
tradewith60
  • #2,126
  • Dec 10, 2012 10:16am Dec 10, 2012 10:16am
Quoting kaka_ht
Yes,I agree with you,but sometime we can take some CT entries,of course it will be more risky!So I reduce my size in situations like thí!
I am probably just a very conservative trader... I have no problem sitting on my hands until everything lines up as perfectly as possible. Instead of reducing my risk by reducing my trade size I just eliminate the riskier trades altogether!
  • #2,127
  • Dec 11, 2012 4:30am Dec 11, 2012 4:30am
SP500
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tradewith60
  • #2,128
  • Dec 11, 2012 4:34am Dec 11, 2012 4:34am
better pic...
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tradewith60
  • #2,129
  • Dec 11, 2012 7:06am Dec 11, 2012 7:06am
It was not perfect engulf candle,but I decided to take a long when combine with my EW count!
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  • #2,130
  • Dec 11, 2012 7:24am Dec 11, 2012 7:24am
Quoting kaka_ht
It was not perfect engulf candle,but I decided to take a long when combine with my EW count!
How did you set the TP and SL? I mean do you use size of the signal candle or some S & R?
My Pips Stolen By The Broker
  • #2,131
  • Dec 11, 2012 7:27am Dec 11, 2012 7:27am
Quoting kjaved
How did you set the TP and SL? I mean do you use size of the signal candle or some S & R?
You should come back to the first page to see how 60 min set TP and SL!

It was another good entry in EU H1.If you know about EW count and combine it with this method,you will get perfect result!
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  • #2,132
  • Dec 11, 2012 7:30am Dec 11, 2012 7:30am
Quoting kaka_ht
You should come back to the first page to see how 60 min set TP and SL!
I have read and know but your TP & SL were not look like according to that so I asked. But sorry will not ask you again...
My Pips Stolen By The Broker
  • #2,133
  • Dec 11, 2012 7:36am Dec 11, 2012 7:36am
Quoting kjaved
I have read and know but your TP & SL were not look like according to that so I asked. But sorry will not ask you again...
You should follow the 60min's rules,these are very good thing!My TP and SL are bit diffirent from his!But you needn't care about this!
  • #2,134
  • Dec 11, 2012 7:40am Dec 11, 2012 7:40am
Quoting kaka_ht
It was not perfect engulf candle,but I decided to take a long when combine with my EW count!
Sorry but what's EW count?
  • #2,135
  • Dec 11, 2012 8:38am Dec 11, 2012 8:38am
Quoting kashTrader
Sorry but what's EW count?
guessing elliot wave
tradewith60
  • #2,136
  • Dec 11, 2012 8:40am Dec 11, 2012 8:40am
Quoting 60minuteman
guessing elliot wave
Yes, Exactly!
  • #2,137
  • Dec 12, 2012 2:06am Dec 12, 2012 2:06am
I think the attached EA is very useful when using 60's strategy.
It trails the SL behind the high/low of the last candle(s).

I use it myself at night to stay in H1 and H4 trades and trail the stop behind the last closed H1 candle. I have to say it works perfectly!


The parameters are:

  1. iTicket: put in the ticket number of the trade you want to monitor (first column in MT4 terminal)
  2. iTmfrm: timeframe of which EA should trail by bars (e.g. 60 for H1)
  3. iBars_n: number of bars for which the SL should be calculated (e.g. 2 means high/low of the last 2 bars, I use 1 for the previous bar)
  4. iIndent: buffer in pips for SL (e.g. 10 means the SL will be placed 1 pip -for 5 digit broker- below/above the high/low of the last candle)
  5. bTrlinloss: TRUE = SL will be moved even in loss (I use this) or FALSE = SL will only be moved if new SL is in profit

Have fun with it and many pips for all of you!

Cheers,
Olarion

Attached File(s)
File Type: mq4 TrailingByShadows.mq4   6 KB | 465 downloads
  • #2,138
  • Dec 12, 2012 4:53am Dec 12, 2012 4:53am
Quoting Olarion1975
I think the attached EA is very useful when using 60's strategy.
It trails the SL behind the high/low of the last candle(s).

I use it myself at night to stay in H1 and H4 trades and trail the stop behind the last closed H1 candle. I have to say it works perfectly!


The parameters are:[list][*]iTicket: put in the ticket number of the trade you want to monitor (first column in MT4 terminal)[*]iTmfrm: timeframe of which EA should trail by bars (e.g. 60 for H1)[*]iBars_n: number of bars for which the SL should be calculated (e.g....
very nice... if i could make a variation, it would be to only step the stop loss when the close was in the direction of the trade.... but great im gonna play with this!!! thanks
tradewith60
  • #2,139
  • Dec 12, 2012 4:57am Dec 12, 2012 4:57am
Quoting Olarion1975
I think the attached EA is very useful when using 60's strategy.
It trails the SL behind the high/low of the last candle(s).

I use it myself at night to stay in H1 and H4 trades and trail the stop behind the last closed H1 candle. I have to say it works perfectly!


The parameters are:[list][*]iTicket: put in the ticket number of the trade you want to monitor (first column in MT4 terminal)[*]iTmfrm: timeframe of which EA should trail by bars (e.g. 60 for H1)[*]iBars_n: number of bars for which the SL should be calculated (e.g....

Great stuff
  • #2,140
  • Dec 12, 2012 4:59am Dec 12, 2012 4:59am
Quoting 60minuteman
very nice... if i could make a variation, it would be to only step the stop loss when the close was in the direction of the trade.... but great im gonna play with this!!! thanks
Ok, fine. Your variation makes sense. If I step the SL manually, I do it in the same way you described. May be a programmer can do the trick...
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