Buy sell line trading | Page 120 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Difference between buy/sell stops & buy/sell limits 34 replies

how to change buy to sell, sell to buy for EA 1 reply

the buy/buy or sell/sell currency broker?? 5 replies

I am looking for EA to put Buy Stops, Buy limits, Sell limits, and Sell Stops. I will 0 replies

hwo to get rid of teh Buy line and Sell line 2 replies

Attachments: Buy sell line trading
Exit Attachments

Buy sell line trading

  • #2,381
  • Jan 15, 2013 12:53pm Jan 15, 2013 12:53pm
Quoting Olarion1975

...

But be aware of over-trading, meaning you should not try to take every setup. Personally, on H1 I only look for trades between London Open and London Close / overlap with NY (8:00 GMT - 17:00 GMT). On H4 I would take signals round the clock if they look high probable.

...

Cheers,
Olarion
I can second what Olarion says here. I have gotten burned time and time again going after H1 engulfing and type 2 entry trades outside of London sessions. The setups are legit, but 90+ of my losing or BE trades are H1 setups outside of London. However, solid H4 setups seem to not really matter what session. I would recommend newer traders steer clear from trading H1 until you really feel comfortable and are highly consistent on H4. I should probably heed my own advice and only trade H4 still!
  • #2,382
  • Jan 15, 2013 12:54pm Jan 15, 2013 12:54pm
Quoting Olarion1975
Here is my GBPJPY trade from today...

Overall result today: +195 pips, account growth of 10.5R.
That's awesome Olarion! Congrats and continued success!
  • #2,383
  • Jan 15, 2013 1:04pm Jan 15, 2013 1:04pm
Quoting SMcGuire45
That's awesome Olarion! Congrats and continued success!
Thank you, mate. As I risk about 1 %per trade, I gained 10.5 % on my account. H1 paying big today...
  • #2,384
  • Jan 15, 2013 1:06pm Jan 15, 2013 1:06pm
Olarion, I'd like to give you a vouch, but I can't lol

Quoting Olarion1975
Hi mijnmail,

first of all, I congratulate you on your last 2 trades. The GBPJPY trade I took myself.

But be aware of over-trading, meaning you should not try to take every setup. Personally, on H1 I only look for trades between London Open and London Close / overlap with NY (8:00 GMT - 17:00 GMT). On H4 I would take signals round the clock if they look high probable.

Second, try to trade on Demo as you would do with your real money. One of your last charts did not show a stop loss. You should ALWAYS use a SL. Set it above...
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,385
  • Jan 15, 2013 1:10pm Jan 15, 2013 1:10pm
Quoting fisheggs
Olarion, I'd like to give you a vouch, but I can't lol
Haha, thanks fisheggs. It's the thought that counts!
  • #2,386
  • Jan 15, 2013 1:12pm Jan 15, 2013 1:12pm
Quoting fisheggs
Olarion, I'd like to give you a vouch, but I can't lol
I'd like to give 60MM and Olarion vouches too, but can't either!
  • #2,387
  • Jan 15, 2013 1:30pm Jan 15, 2013 1:30pm
Quoting SMcGuire45
I'd like to give 60MM and Olarion vouches too, but can't either!
Cool...
  • #2,388
  • Jan 15, 2013 3:13pm Jan 15, 2013 3:13pm
Hi Guys,

Thank you so much for the great advice!! This kind of feedback makes this thread the best.

I put them to use immediately. What do you think of the following 4h setup on NZD/USD?
Attached Image (click to enlarge)
Click to Enlarge Name: Selectie_009.png Size: 10 KB
  • #2,389
  • Jan 15, 2013 3:45pm Jan 15, 2013 3:45pm
nice to see people doing well... had some nice shorts today myself...


wait for the retraces... further from the ma's lower win rate...

Outside bars are ruling my world right now..

Alos been backtesting some trend reversal trade ideas... So far results showing 78% win rate on |H1, but only tested 100 trades...
tradewith60
  • #2,390
  • Jan 15, 2013 3:52pm Jan 15, 2013 3:52pm
here's the current GU H1

look at all the winners on GU... look where the MA's are...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 98 KB
tradewith60
  • #2,391
  • Jan 15, 2013 4:49pm Jan 15, 2013 4:49pm
Quoting Olarion1975
Thank you, mate. As I risk about 1 %per trade, I gained 10.5 % on my account. H1 paying big today...
Olarion, super results as usually...

What leverage do you have with your broker to accomodate several open positions at the same time.
  • #2,392
  • Jan 15, 2013 8:08pm Jan 15, 2013 8:08pm
Quoting Olarion1975
Hi bedayan,

I scan through the charts manually every hour and look for setups on H1 and H4.
I trade 22 pairs: AUDCAD, AUDCHF, AUDJPY, AUDUSD, CADJPY, CHFJPY, EURAUD, EURCAD, EURJPY, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, XAGUSD (Silver) and XAUUSD (Gold).

Normally the best setups on H1 occur at the opening times (London and NY) or shortly after. This is my experience.
Hi Olarion:
Thanks for all the input you've given, it's been great. Do you have one broker or multiple that allows you to trade all those pairs, also what time does your new day start? Thanks for your help
  • #2,393
  • Jan 15, 2013 10:46pm Jan 15, 2013 10:46pm
Curious how you guys that are using a 10 EMA would handle this setup? There's a nice deep retrace, the latest candle is closing in the top 25%, and it bounced off of the 50 LWMA. However, the MA's aren't as steep as I like and the 10 EMA is coming down and will now have the potential to act as resistance. The potential trade has a good R:R...IF...it re-tests the previous swing high. Not sure how to handle this...any thoughts? Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 138 KB
  • #2,394
  • Jan 16, 2013 1:26am Jan 16, 2013 1:26am
Quoting 60minuteman
nice to see people doing well... had some nice shorts today myself...


wait for the retraces... further from the ma's lower win rate...

Outside bars are ruling my world right now..

Alos been backtesting some trend reversal trade ideas... So far results showing 78% win rate on |H1, but only tested 100 trades...
Hi 60,

could you expand a bit on your reversal setup?

Thanks,
Olarion
  • #2,395
  • Edited 1:35am Jan 16, 2013 1:29am | Edited 1:35am
Quoting SMcGuire45
Curious how you guys that are using a 10 EMA would handle this setup? There's a nice deep retrace, the latest candle is closing in the top 25%, and it bounced off of the 50 LWMA. However, the MA's aren't as steep as I like and the 10 EMA is coming down and will now have the potential to act as resistance. The potential trade has a good R:R...IF...it re-tests the previous swing high. Not sure how to handle this...any thoughts? Thanks!
It looks like a valid long setup. I would wait for close of the candle and enter if the high of the signal candle AND the round number above is broken.
  • #2,396
  • Jan 16, 2013 1:31am Jan 16, 2013 1:31am
Quoting snail69
Olarion, super results as usually...

What leverage do you have with your broker to accomodate several open positions at the same time.
I use a leverage of 1:400.
  • #2,397
  • Jan 16, 2013 1:34am Jan 16, 2013 1:34am
Quoting bigjim1958
Hi Olarion:
Thanks for all the input you've given, it's been great. Do you have one broker or multiple that allows you to trade all those pairs, also what time does your new day start? Thanks for your help
I only use Pepperstone as broker, but with 2 accounts (H1 and H4).
Start of the day is GMT +3 (5.00 PM New York).
  • #2,398
  • Edited 3:32am Jan 16, 2013 3:16am | Edited 3:32am
Quoting Olarion1975
Hi 60,

could you expand a bit on your reversal setup?

Thanks,
Olarion
here it is mate, check it out...

only discretion is that it is really to be used as a trend reversal trade, price has to be away from the ma's for a certain amount of candles (not 100% on the optimum yet, about 3 canldes not touching either ma). This avoids any chop.

Can be very big R/R, something like a multilot MM strat would work nicely i reckon... will test it more over the weekend

just to be clear... if we are ranging and the ma's have gone flat... wait for the break away. Trading this will be entering in the middle of a range. its a trend reversal trade only.

http://clip2net.com/s/2IqCL
tradewith60
  • #2,399
  • Jan 16, 2013 3:23am Jan 16, 2013 3:23am
Quoting 60minuteman
here it is mate, check it out...

only discretion is that it is really to be used as a trend reversal trade, price has to be away from the ma's for a certain amount of candles (not 100% on the optimum yet, about 3 canldes not touching either ma). This avoids any chop.

Can be very big R/R, something like a multilot MM strat would work nicely i reckon... will test it more over the weekend

http://clip2net.com/s/2IqCL
Thank you, mate.
Will test it myself beside the trend / retracement entries. This reminds me a bit of Steven Primo's webinar about outside bars crossing the 50sma.

Is this your own creation? Why do you use 2 pips buffer?
  • #2,400
  • Jan 16, 2013 4:15am Jan 16, 2013 4:15am
Quoting Olarion1975
Thank you, mate.
Will test it myself beside the trend / retracement entries. This reminds me a bit of Steven Primo's webinar about outside bars crossing the 50sma.

Is this your own creation? Why do you use 2 pips buffer?
yeah this is my own, to my knowledge I have never seen anyone use the 50Lwma with the 50sma...

2pip buffer... avoids some losers

Steves OB at the 50sma is looking for a break away from the MA's, here were looking for a trend to reverse from one direction to the other
tradewith60
1 trader viewing now