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Attachments: Buy sell line trading
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Buy sell line trading

  • #2,221
  • Dec 19, 2012 7:20am Dec 19, 2012 7:20am
Quoting Trekker
Hi Kash

Yep, yellow is 50sma.

Others are not part of the strategy of course, I just like to have them because I used them in a previous strategy as floating s/r. They are the 10sma and 20sma. I also have the 200ema on my charts.
Yup, I realise that. The reason I was interested is because the uptrend seems to be respecting those SMAs as well
  • #2,222
  • Dec 19, 2012 8:36am Dec 19, 2012 8:36am
This looked a good trade when it developed, but was a loser. Anyone take this ?

USDCAD 4HR Chart
Attached Image
  • #2,223
  • Dec 19, 2012 9:17am Dec 19, 2012 9:17am
Quoting puntalara
This looked a good trade when it developed, but was a loser. Anyone take this ?

USDCAD 4HR ChartAttachment
Hi puntalara,

yes, it looked good and I took it...and lost. But that's the game of trading.
You will have some losing days, but as long you are positive over the week it won't hurt you.
  • #2,224
  • Dec 19, 2012 9:19am Dec 19, 2012 9:19am
Quoting Olarion1975
Hi puntalara,

yes, it looked good and I took it...and lost. But that's the game of trading.
You will have some losing days, but as long you are positive over the week it won't hurt you.
Yup, I second that. To put it more bluntly, if every trade taken using the rules 60 developed was a winner then we would all be millionaires .... I am not sure if there are ones here already.... Also, the trading could simply be done through an EA scanning all possible charts ..... making me into a zillionare in no time at all

So, we have to average it out and hope that we are winning more pips then we are loosing over weeks and months.......
  • #2,225
  • Dec 19, 2012 9:20am Dec 19, 2012 9:20am
Quoting kashTrader
Yup, I second that. To put it more bluntly, if every trade taken using the rules 60 developed was a winner then we would all be millionaires .... I am not sure if there are ones here already.... Also, the trading could simply be done through an EA scanning all possible charts ..... making me into a zillionare in no time at all

So, we have to average it out and hope that we are winning more pips then we are loosing over weeks and months.......
Well said, that's exactly the point!
  • #2,226
  • Dec 19, 2012 9:24am Dec 19, 2012 9:24am
Quoting puntalara
This looked a good trade when it developed, but was a loser. Anyone take this ?

USDCAD 4HR ChartAttachment
Hello. IMHO, I don't think that was a good trade. As you can see, price just barely closed below the B/S line. As a fellow user of this method, I more than likely would have let it pass, as it wasn't high quality enough for me to risk my money on. However, there was another trade two bars later...a nice looking type 2 to be exact.

Did you take that one?
  • #2,227
  • Edited 11:55am Dec 19, 2012 9:31am | Edited 11:55am
Here is a nice live trade on NZD/JPY I am just in...it will compensate the loss on the USD/CAD trade I think.

I shorted afer the engulfing bar below the 50 sma...my target is the daily s/r line from March (!!)...that would be about +150 pips. Until then I trail the SL behind the closed H1 candles using the EA I posted before.

Happy pipping!

UPDATE: Stopped out at BE...onto the next trade ;-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDJPY,H1_2012-12-19_16-24-25.jpg Size: 55 KB
Click to Enlarge Name: [NZDJPY,Daily]_2012-12-19_16-25-57.jpg Size: 133 KB
  • #2,228
  • Dec 19, 2012 10:53am Dec 19, 2012 10:53am
Quoting Olarion1975
Here is a nice live trade on NZD/JPY I am just in...it will compensate the loss on the USD/CAD trade I think.

I shorted afer the engulfing bar below the 50 sma...my target is the daily s/r line from March (!!)...that would be about +150 pips. Until then I trail the SL behind the closed H1 candles using the EA I posted before.

Happy pipping!
Is this on the hour as it just does not show up on my charts. I would not of taken it as the 4hr ma is very strong. In fact you could of gone long on the bar marked. I only do day candles so I did not take it..
Attached Image
  • #2,229
  • Dec 19, 2012 1:21pm Dec 19, 2012 1:21pm
Hello All, thank very much for sharing this system.
I want to make one question. Please, how many trades do you open at the same time ?
if you open a trade, don´t opena new trade until this trade is close ?
Thans.
  • #2,230
  • Dec 19, 2012 1:24pm Dec 19, 2012 1:24pm
Quoting arkan1976
Hello All, thank very much for sharing this system.
I want to make one question. Please, how many trades do you open at the same time ?
if you open a trade, don´t opena new trade until this trade is close ?
Thans.
Hi arkan,

it depends on how much risk you are willing to take. Me personally, I take maximum 2 trades at the same time. If one of theses trades is at break-even or profit is locked, I might open another one.

Cheers,
Olarion
  • #2,231
  • Dec 19, 2012 1:38pm Dec 19, 2012 1:38pm
Quoting Olarion1975
Hi arkan,

it depends on how much risk you are willing to take. Me personally, I take maximum 2 trades at the same time. If one of theses trades is at break-even or profit is locked, I might open another one.

Cheers,
Olarion
Thank you very much Olarion
Cheers.
  • #2,232
  • Dec 19, 2012 4:13pm Dec 19, 2012 4:13pm
Quoting Olarion1975
Here is a nice live trade on NZD/JPY I am just in...it will compensate the loss on the USD/CAD trade I think.

I shorted afer the engulfing bar below the 50 sma...my target is the daily s/r line from March (!!)...that would be about +150 pips. Until then I trail the SL behind the closed H1 candles using the EA I posted before.

Happy pipping!

UPDATE: Stopped out at BE...onto the next trade ;-)
Reentered short NZD/NZD/JPY as I was pretty sure that it will break down...entry not quite according to the rules, but support became resistance...+44 pips and running...trailing EA is enabled and I go sleeping now!

UPDATE: +55 now...and another AUD/JPY short is also on its way down for +36 now...will update results at london open. Good night!
Attached Image (click to enlarge)
Click to Enlarge Name: [NZDJPY,H1]_2012-12-19_23-08-01.jpg Size: 77 KB
  • #2,233
  • Dec 19, 2012 4:46pm Dec 19, 2012 4:46pm
Poor red news tonight has helped the sell trades on NZD. Good luck.
  • #2,234
  • Dec 19, 2012 4:47pm Dec 19, 2012 4:47pm
Quoting Olarion1975
Reentered short NZD/NZD/JPY as I was pretty sure that it will break down...entry not quite according to the rules, but support became resistance...+44 pips and running...trailing EA is enabled and I go sleeping now!

UPDATE: +55 now...and another AUD/JPY short is also on its way down for +36 now...will update results at london open. Good night!
on a roll fella!!! nice
tradewith60
  • #2,235
  • Dec 20, 2012 1:34am Dec 20, 2012 1:34am
Quoting Olarion1975
Reentered short NZD/NZD/JPY as I was pretty sure that it will break down...entry not quite according to the rules, but support became resistance...+44 pips and running...trailing EA is enabled and I go sleeping now!

UPDATE: +55 now...and another AUD/JPY short is also on its way down for +36 now...will update results at london open. Good night!
Woke up with profit...my trailing SL stopped me out at +26 pips for NZD/JPY and +25 pips for AUD/JPY. I am happy with that!
  • #2,236
  • Dec 20, 2012 5:02am Dec 20, 2012 5:02am
Quoting Olarion1975
Woke up with profit...my trailing SL stopped me out at +26 pips for NZD/JPY and +25 pips for AUD/JPY. I am happy with that!
Just want to clarify that this trade (N/J) was done based on support turning resistance and not according to the rules right?
Was the trade based on anything else?
In case there is anything I have missed.

Congrats on the winning trade.
  • #2,237
  • Dec 20, 2012 5:06am Dec 20, 2012 5:06am
Quoting the novice
Just want to clarify that this trade (N/J) was done based on support turning resistance and not according to the rules right?
Was the trade based on anything else?
In case there is anything I have missed.

Congrats on the winning trade.
Hi novice,

the trade was not quite according to the rules, because I did not wait for an engulfing or typ2 entry.
But the entry was below the 50sma and according to price action (reaction to s/r level). So partly rule-breaking I guess...
  • #2,238
  • Dec 20, 2012 5:08am Dec 20, 2012 5:08am
Quoting Olarion1975
Hi novice,

the trade was not quite according to the rules, because I did not wait for an engulfing or typ2 entry.
But the entry was below the 50sma and according to price action (reaction to s/r level). So partly rule-breaking I guess...
Cool.
Thanks for the quick reply.
  • #2,239
  • Dec 20, 2012 6:20am Dec 20, 2012 6:20am
Today I took 3 trades after the profit in the morning...one on H4 and two on H1 for a total of +44 pips. More than enough...

H4
NZD/USD +9 pips (type 2)

H1
NZD/USD +11 pips (type 2)
AUD/CHF +24 pips (type 2)

These 3 trades made my account increase about 3%...happy with that.

This time I exited all trades manually as I didn't like PA...pretty much stalling. You always have to be flexible.
  • #2,240
  • Dec 20, 2012 8:57am Dec 20, 2012 8:57am
Quoting Olarion1975
Today I took 3 trades after the profit in the morning...one on H4 and two on H1 for a total of +44 pips. More than enough...

H4
NZD/USD +9 pips (type 2)

H1
NZD/USD +11 pips (type 2)
AUD/CHF +24 pips (type 2)

These 3 trades made my account increase about 3%...happy with that.

This time I exited all trades manually as I didn't like PA...pretty much stalling. You always have to be flexible.
Great day! Well done.
MT4/MT5 EAs/Indicators/Alerts coder
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