The position is restored. Na I'm long again with the last 1/3 at 1.29952. The stop of the current position is fully covered. The idea is to follow the market but not to give up profits.
The position is restored. Na I'm long again with the last 1/3 at 1.29952. The stop of the current position is fully covered. The idea is to follow the market but not to give up profits.
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When you went long the first time around 1.2997 it didn't stop you out when it hit 1.29915 ?
Today was a good day because this method worked but what do you do to filter these trades?
Because this method wouldn't of worked for the prior 2 trading sessions.
Take Nov 2 for example. If you shorted at both the 20,50 EMA you would of been stopped out, DAX wasn't open yet during that time. So I take it you would of avoided taking those trades because there was no correlation.
If you get stopped at 20 EMA, do you take the 50 EMA?
If you get stopped at 50 EMA do you take the 100 EMA?
This is a better example. Showing both the DAX and EU.
If you shorted at each of the EMA you would of been stopped. For the 20 and 50 EMA if you used the DAX as correlation, it "looked" like it was heading downward. However the 20,50 EMA would of been loses. The 100 EMA loss could of been avoided by looking at the DAX.
It doesn't seem like looking at correlation helps because these indices and currencies pretty much all move in the realtime and one doesn't lag/lead the other.
Today was a good day because this method worked but what do you do to filter these trades?
Because this method wouldn't of worked for the prior 2 trading sessions.
Take Nov 2 for example. If you shorted at both the 20,50 EMA you would of been stopped out, DAX wasn't open yet during that time. So I take it you would of avoided taking those trades because there was no correlation.
If you get stopped at 20 EMA, do you take the 50 EMA?
If you get stopped at 50 EMA do you take the 100 EMA?
This is a better example. Showing both the DAX and EU.
If...
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Hi adaseb,
Sometimes I don't take entries and other times my stop is hit. The quote reading is my best filter. Last Friday (11/02) I didn't trade spot forex because it was NFP day when I trade options.
What are we looking at here? It looks like price fails to touch some EMA, some it breaks, while others hold.
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We can't expect every time the price to bounce off exactly from the EMA It would be too easy and everybody should make money, which is impossible. I filter my trades with quote reading.
I explain her http://fbmtrader.com/tag/%D1%87%D0%B...2%D0%BA%D0%B8/ about the quote reading. The articles are in Bulgarian but you can try to read them with http://translate.google.com/. I plan to write them in English but I'm busy with the options trading.
We can't expect every time the price to bounce off exactly from the EMA It would be too easy and everybody should make money, which is impossible. I filter my trades with quote reading.
I explain her http://fbmtrader.com/tag/%D1%87%D0%B...2%D0%BA%D0%B8/ about the quote reading. The articles are in Bulgarian but you can try to read them with http://translate.google.com/. I plan to write them in English but I'm busy with the options trading.
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I read your article. Google translated it nicely.
I think you mentioned this before but the issue is that its very rare to find an occurence when price goes to an EMA and also at that exact moment there is a large spike off the quotes.
Usually large spike quotes and EMA bounces happen seperaetly never together.
We can't expect every time the price to bounce off exactly from the EMA It would be too easy and everybody should make money, which is impossible. I filter my trades with quote reading.
I explain her http://fbmtrader.com/tag/%D1%87%D0%B...2%D0%BA%D0%B8/ about the quote reading. The articles are in Bulgarian but you can try to read them with http://translate.google.com/. I plan to write them in English but I'm busy with the options trading.
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Hello!
I have read this your article with interest! My native language is russian. This have helped me by understading.
I think you mentioned this before but the issue is that its very rare to find an occurence when price goes to an EMA and also at that exact moment there is a large spike off the quotes.
Usually large spike quotes and EMA bounces happen seperaetly never together.
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It is impossible any technical indicator to be accurate 100%. I use the quotes for filtering my entries and always use stops. Then the money management is making the difference.
