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Buy sell line trading

  • #2,561
  • Jan 31, 2013 2:11pm Jan 31, 2013 2:11pm
Quoting 60minuteman
Three signal on GU M5

cross trade, bounce on ma's, OB at MA's... 2 giving big wins and 1 a small loss
Hey 60

Looking at this chart 5 minute chart GBPUSD, you indicate 1 small loss
Which leads me to ask, how many pips would you allow these things to go against you before closing for a loss

I really like your blog by the way (the pictures AND the charts)!

PGPB
  • #2,562
  • Jan 31, 2013 3:17pm Jan 31, 2013 3:17pm
Quoting pgpb
Hey 60

Looking at this chart 5 minute chart GBPUSD, you indicate 1 small loss
Which leads me to ask, how many pips would you allow these things to go against you before closing for a loss

I really like your blog by the way (the pictures AND the charts)!

PGPB
you have 2 options, either the most recent swing low or the other side of the ma's... as no 2 set ups are the same that choice is down to your discretion... sometimes the recent swing is so far away that my risk will be extreme, so I will put my stop just the other side of the ma's.
Sometimes the trend is so strong and defined that Im 90% confident in the trade and I want to stay in no matter what, so I will use the swing hi/low
tradewith60
  • #2,563
  • Jan 31, 2013 6:45pm Jan 31, 2013 6:45pm
Quoting 60minuteman
OIL futures H1

first signal, close up off ma's failed, followed up with an engulf off the ma's and the SR strike zone for a win...

if anyone doesnt know how to draw s/r strike zones theres a post on my blog

Hi 60 - enjoying your thread, but perhaps I am the only one who can't see anything on your website beyond pictures of pretty women, regardless of where i click?

Perhaps if someone would post a direct link to the 'how to draw strike zones' page it would help... thanks
  • #2,564
  • Jan 31, 2013 6:56pm Jan 31, 2013 6:56pm
Quoting davidt76
Hi 60 - enjoying your thread, but perhaps I am the only one who can't see anything on your website beyond pictures of pretty women, regardless of where i click?

Perhaps if someone would post a direct link to the 'how to draw strike zones' page it would help... thanks
click the link on the site then scroll down
tradewith60
  • #2,565
  • Jan 31, 2013 11:10pm Jan 31, 2013 11:10pm
1st time Mrs V has left a trade overnight. Stop at +136 now its a question of management. Trend clear on EJ 1hr engulfing close. Some big decisions for her (previously an avid scalper and goodness knows I've been trying to that habit out of her) to make ahead of NFP on the stop.
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  • #2,566
  • Feb 1, 2013 4:14am Feb 1, 2013 4:14am
Quoting Vantage
1st time Mrs V has left a trade overnight. Stop at +136 now its a question of management. Trend clear on EJ 1hr engulfing close. Some big decisions for her (previously an avid scalper and goodness knows I've been trying to that habit out of her) to make ahead of NFP on the stop.
Hi Vantage, there is a thought that a trend into NFP will continue, or she could do a bracket trade hedging her current position in case it goes against her...

me personally think take the 100+it's Friday and go watch a video, or at least move stops behind some higher tf s/r...

but damn the Yen is a beauty at the moment
tradewith60
  • #2,567
  • Feb 1, 2013 4:33am Feb 1, 2013 4:33am
Quoting 60minuteman
Hi Vantage, there is a thought that a trend into NFP will continue, or she could do a bracket trade hedging her current position in case it goes against her...

me personally think take the 100+it's Friday and go watch a video, or at least move stops behind some higher tf s/r...

but damn the Yen is a beauty at the moment
Hey I just got her past banking at 20 pips so this is uncharted territory. Hedge!! That'll cause some kind of brain aneurism.

I left her to make the choice, her trade her TP. She backed herself into a corner really. Pushed stop a little to close for ej's whips. Having done that when the push up failed earlier she was kinda compelled to get out at +200. Thats triple her previous best exit so thats fine as her stop at +167 ish would have hit. On the other hand if she had left stop at previous area +130 ish she could still be in now with stop close to her 200 exit.

Please don't think I'm complaining, I'm certainly not!! By any standards a great trade. Going to send her to Scalpers Anonymous meetings, I'm sure they'll be of help.
  • #2,568
  • Feb 1, 2013 4:52am Feb 1, 2013 4:52am
hahah... must be strange husband and wife trading team, does she beat on you when she has a bad day? actually don't answer that!!! lol

Yeah the closing early syndrome, a bitch to break for sure... mirror trading works weel, duplicate your entries on a separate mt4 demo with some sort of insane exit strategy and compare your results... i'm sure you know a million ideas yourself...

anyway... lovely trade, she's got to be chuffed!


Quoting Vantage
Hey I just got her past banking at 20 pips so this is uncharted territory. Hedge!! That'll cause some kind of brain aneurism.

I left her to make the choice, her trade her TP. She backed herself into a corner really. Pushed stop a little to close for ej's whips. Having done that when the push up failed earlier she was kinda compelled to get out at +200. Thats triple her previous best exit so thats fine as her stop at +167 ish would have hit. On the other hand if she had left stop at previous area +130 ish she could still be in now with stop close...
tradewith60
  • #2,569
  • Feb 1, 2013 5:00am Feb 1, 2013 5:00am
Quoting 60minuteman
hahah... must be strange husband and wife trading team
Vantage - I wasn't sure if you were talking about yourself in the 3rd person :-)

60 - I can say this strategy is starting to sink in now. After my expectations about the Euro yesterday, I noticed on H1 the pair retrace into the MAs (I longed this on demo) - and it moved up nicely. Starting to get a feel for the ebb and flow of the markets.

I'm not entirely convinced about the textbook claims on support/resistance. Obviously exchange of contracts moves the markets up or down to 'clear' it of buyers and sellers - but the idea of S/R being a perfect horizontal line seems a bit unrealistic, especially on lower TFs. Perhaps the MAs are a better representation?

Anyway, good stuff on the thread as always.
  • #2,570
  • Feb 1, 2013 5:27am Feb 1, 2013 5:27am
60 minuteman, she was chuffed especially after I told her this morning that her original stop just got tagged overnight only for the trade to shoot up. Not to worry, the doctor said my bruises will clear in a week or so and the breaks are clean so a couple of months in plaster and I'll be right as rain.
  • #2,571
  • Feb 1, 2013 5:29am Feb 1, 2013 5:29am
Quoting S_Ferrer
Vantage - I wasn't sure if you were talking about yourself in the 3rd person :-)
Nah, the operation was a success!! Just kidding.
  • #2,572
  • Feb 1, 2013 7:59am Feb 1, 2013 7:59am
Quoting Vantage
Nah, the operation was a success!! Just kidding.
looks like the news had already been priced in on yesterdays move
tradewith60
  • #2,573
  • Feb 1, 2013 8:05am Feb 1, 2013 8:05am
In a GBP/USD trade which I wish I wasn't in now. Type2 but 3rd visit to the MAs.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,574
  • Feb 1, 2013 8:13am Feb 1, 2013 8:13am
Quoting fisheggs
In a GBP/USD trade which I wish I wasn't in now. Type2 but 3rd visit to the MAs.
yeah and started to close on the lower side... but there is a pretty strong s/r line right there... 50/50 I reckon

H1 bearish outside bar too...
tradewith60
  • #2,575
  • Feb 1, 2013 8:14am Feb 1, 2013 8:14am
Quoting S_Ferrer
I'm not entirely convinced about the textbook claims on support/resistance. Obviously exchange of contracts moves the markets up or down to 'clear' it of buyers and sellers - but the idea of S/R being a perfect horizontal line seems a bit unrealistic, especially on lower TFs. Perhaps the MAs are a better representation?

Anyway, good stuff on the thread as always.
Each to their own. I absolutely focus on support and resistance as a line (or should I say area) on a chart and trend as the grails of trading. Chuck in W pivots as a close 3rd.

Just as a recent example EJ was clearly getting short term support yesterday around 123.00 to set up that trade when 1hr closed.
  • #2,576
  • Feb 1, 2013 8:48am Feb 1, 2013 8:48am
Quoting Vantage
Each to their own. I absolutely focus on support and resistance as a line (or should I say area) on a chart and trend as the grails of trading. Chuck in W pivots as a close 3rd.

Just as a recent example EJ was clearly getting short term support yesterday around 123.00 to set up that trade when 1hr closed.
yeah s/r are after all price, and price is the only thing that is real...
tradewith60
  • #2,577
  • Feb 1, 2013 8:50am Feb 1, 2013 8:50am
I'm in GU H1 OB short after we closed below the ma's..

will let it run to market close
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tradewith60
  • #2,578
  • Feb 1, 2013 8:59am Feb 1, 2013 8:59am
A very reliable pattern for trend change, similar to a 1-2-3 reversal or a traditional trend line break.

1. Price crosses and closes over both ma's

2. we retest the ma's

3. we reject and close in the direction of the reversal.

4. enter with momentum as always..

go find some on your charts, works all tf's...
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tradewith60
  • #2,579
  • Feb 1, 2013 9:12am Feb 1, 2013 9:12am
This thread is a real gold mine!
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,580
  • Feb 1, 2013 9:42am Feb 1, 2013 9:42am
Saw the OB and proceeded to take a stop out on my T2 . F@*K

To be honest, it was a BEOB which had triggered and a T2 was not really on the cards. Looks like I'm spending more time with the charts this weekend .

http://my.jetscreenshot.com/14854/m_...lfyd-246kb.jpg

Quoting 60minuteman
I'm in GU H1 OB short after we closed below the ma's..

will let it run to market close
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
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