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  • #729,821
  • Dec 10, 2012 3:57pm Dec 10, 2012 3:57pm
Quoting Kanzler
Confirmation comes at a price....for example, pinbars require a stop above the nose which is often several times more risk than you'd be taking on had you just played the level itself. Since "confirmation" isn't foolproof I think it's worth the lower accuracy.
I never give my trade more than 5 pips sl. more often than not it's the spread, but i'm a scalper
  • #729,822
  • Dec 10, 2012 4:01pm Dec 10, 2012 4:01pm
Quoting attila
I never give my trade more than 5 pips sl
I once used a SL 1.5 pip ... and was never able to repeat it
"It's the Margin, Stupid."
  • #729,823
  • Dec 10, 2012 4:01pm Dec 10, 2012 4:01pm
Quoting Vachus
What a disappointment ... it came as close as 2.2 pip and flashed away !

I will consider closing down the order and go to sleep - another day tomorrow ... so typical of this shitty session !
I feel your pain, got ripped of a few winners last week. Missed the triple top by less than a pip and then got screwed on the rebound of the last major support because I forgot to factor in spread. Oh well.

I think there's still time for this pair to go up a few pips though, so might be worth just leaving the order to run.

Quoting attila
I never give my trade more than 5 pips sl
I just ask because I'm curious, not to be a pain, but how do you deal with confirmation candles that have a high or low greater than your 5 pip stoploss? Just skip them? Or do you enter on a lower timeframe?
  • #729,824
  • Dec 10, 2012 4:02pm Dec 10, 2012 4:02pm
Quoting Jay Walker
Shocking!
that's what i am talking about. gap kills
those who can, do. those who cant, talk about those who can
  • #729,825
  • Dec 10, 2012 4:05pm Dec 10, 2012 4:05pm
Quoting Kanzler
I feel your pain, got ripped of a few winners last week. Missed the triple top by less than a pip and then got screwed on the rebound of the last major support because I forgot to factor in spread. Oh well.



I just ask because I'm curious, not to be a pain, but how do you deal with confirmation candles that have a high or low greater than your 5 pip stoploss? Just skip them? Or do you enter on a lower timeframe?
I don't use candles for calibrating entries, sl. I do look at them though..
  • #729,826
  • Dec 10, 2012 4:06pm Dec 10, 2012 4:06pm
Quoting KiwiTrada
Not the greatest trade, if her get below green tl might add another, get above gap origin she will get me, enter just before day close, expecting little volatility, sl is small risk, 1st trade today
Similar to this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU consolidation.jpg Size: 160 KB
Click to Enlarge Name: AU 1.05 Support.jpg Size: 208 KB
Even the worst trade can close with profit. Just give it time.
  • #729,827
  • Dec 10, 2012 4:06pm Dec 10, 2012 4:06pm
Quoting John Gray
Similar to this.
Closed longs, will let it ride down.

I don't like shorting AU.
Even the worst trade can close with profit. Just give it time.
  • #729,828
  • Dec 10, 2012 4:08pm Dec 10, 2012 4:08pm
Read this news. Very relevant article prior to fiscal cliff

http://wallstcheatsheet.com/stocks/a...-for-qe4.html/
Even the worst trade can close with profit. Just give it time.
  • #729,829
  • Dec 10, 2012 4:09pm Dec 10, 2012 4:09pm
Quoting Kanzler
I feel your pain, got ripped of a few winners last week. Missed the triple top by less than a pip and then got screwed on the rebound of the last major support because I forgot to factor in spread. Oh well.

I think there's still time for this pair to go up a few pips though, so might be worth just leaving the order to run.
One time i had a short order, i left it and went to work. Later on , when i came back to check what happened. I opened MT5 to see the h1 and was so freaking excited ! It turned from my entry 50+ pips. But , when i opened my broker plateform , i found out that the order wasn't filled for a stupid 0.1 pip

I almost broke down my laptop on this event ...
"It's the Margin, Stupid."
  • #729,830
  • Dec 10, 2012 4:10pm Dec 10, 2012 4:10pm
this happens a bunch.. the day closed green hammer. using sun/mon as a single candle..
Attached Image (click to enlarge)
Click to Enlarge Name: yen.PNG Size: 24 KB
those who can, do. those who cant, talk about those who can
  • #729,831
  • Dec 10, 2012 4:13pm Dec 10, 2012 4:13pm
Quoting John Gray
Closed longs, will let it ride down.

I don't like shorting AU.
Well i'm just opposite, closed my shorts and expecting a spike on euro after tomorrow's eurogroup meetings..perhaps temporary, but jump.
  • #729,832
  • Dec 10, 2012 4:17pm Dec 10, 2012 4:17pm
Quoting attila
I don't use candles for calibrating entries, sl. I do look at them though..
Fair enough, my apologies for the assumption.

Quoting Vachus
One time i had a short order, i left it and went to work. Later on , when i came back to check what happened. I opened MT5 to see the h1 and was so freaking excited ! It turned from my entry 50+ pips. But , when i opened my broker plateform , i found out that the order wasn't filled for a stupid 0.1 pip

I almost broke down my laptop on this event ...
lol, at least it was only 50 pips and not something worse. That triple high jipped me of 90, but then again I'm playing with pocket change until I can get consistent.
  • #729,833
  • Dec 10, 2012 4:19pm Dec 10, 2012 4:19pm
Quoting Kanzler
Fair enough, my apologies for the assumption.



lol, at least it was only 50 pips and not something worse. That triple high jipped me of 90, but then again I'm playing with pocket change until I can get consistent.
not trading but could bounce now
  • #729,834
  • Dec 10, 2012 4:22pm Dec 10, 2012 4:22pm
Quoting attila
not trading but could bounce now
Yep I'm already in short, fib line and price pivot providing some decent resistance with good risk ratio.
  • #729,835
  • Dec 10, 2012 4:24pm Dec 10, 2012 4:24pm
Quoting Kanzler
Yep I'm already in short, fib line and price pivot providing some decent resistance with good risk ratio.
could bounce up...
  • #729,836
  • Dec 10, 2012 4:26pm Dec 10, 2012 4:26pm
Quoting attila
could bounce up...
Could do anything...just playing the low risk opportunity given.
  • #729,837
  • Dec 10, 2012 4:39pm Dec 10, 2012 4:39pm
almost daily close. expecting a shuffle around before closing price 1.290,1.292,1.295
Even the worst trade can close with profit. Just give it time.
  • #729,838
  • Dec 10, 2012 4:46pm Dec 10, 2012 4:46pm
Quoting John Gray
almost daily close. expecting a shuffle around before closing price 1.290,1.292,1.295
And different brokers have different daily close timing so it really doesn't tell you anything
New voice message: Why are you calling me? If I need you, I'll call you!
  • #729,839
  • Dec 10, 2012 4:48pm Dec 10, 2012 4:48pm
Quoting KillerWhale
And different brokers have different daily close timing so it really doesn't tell you anything
True,

Would there not be some average found online? Last time I checked closing levels were used as S&R levels..

Please explain, trying to learn here
Even the worst trade can close with profit. Just give it time.
  • #729,840
  • Dec 10, 2012 4:50pm Dec 10, 2012 4:50pm
Quoting John Gray
True,

Would there not be some average found online? Last time I checked closing levels were used as S&R levels..

Please explain, trying to learn here
I can only say that traders give more importance to daily close than it deserves.
Same for 4 hour candles.
New voice message: Why are you calling me? If I need you, I'll call you!
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