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Buy sell line trading

  • #2,621
  • Feb 7, 2013 8:08am Feb 7, 2013 8:08am
Quoting fisheggs
Have you got a TP or you trailing 60?
closed 70% at yesterdays low (purple line) just let the rest run..

Had a losing day yesterday so extra nice to bag a few big wins today..
tradewith60
  • #2,622
  • Feb 7, 2013 8:25am Feb 7, 2013 8:25am
Interesting on m5, win rate is down to about 35%...oh my god you think !!!!

average R/R +3.7R and about 30 trades a week on 4 pairs...being slightly selective..

Suddenly that 35% win rate looks very nice indeed...

Less then 2 weeks data so take it with a pinch of salt... but, does go to show you that letting a few run and taking lots that comeback and stop you out can really work...
tradewith60
  • #2,623
  • Feb 7, 2013 8:30am Feb 7, 2013 8:30am
Your Pscyhology needs to be right with this type of win rate. It is difficult to keep taking the trades.

The higher R makes up for the losses, but you have to be right in your head is what I'm saying. :nerd:


Quoting 60minuteman
Interesting on m5, win rate is down to about 35%...oh my god you think !!!!

average R/R +3.7R and about 30 trades a week on 4 pairs...being slightly selective..

Suddenly that 35% win rate looks very nice indeed...

Less then 2 weeks data so take it with a pinch of salt... but, does go to show you that letting a few run and taking lots that comeback and stop you out can really work...
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,624
  • Feb 7, 2013 8:40am Feb 7, 2013 8:40am
The Bangkok trade....

On E/U and E/J the daily is far above the 50sma but daily candle closed bear yesterday. Do you judge how much distance you have to the 50sma on the daily if the 1hr and 5 min are below the 50sma? And use daily S/R's?

I see you're in E/J and the price is way above the 50sma on the daily.

I was just up 20 on E/U....moved to B/E and just got taken out at B/E.

What's your thoughts? Scale out some instead of giving it all back then go for 2:1? Or just take the loss? It was over 1:5 ratio

Let me correct it....I went in at the second retrace on the 5min (E/U) after the break of the 50sma. missed the 50sma break.
  • #2,625
  • Feb 7, 2013 8:41am Feb 7, 2013 8:41am
Quoting fisheggs
Your Pscyhology needs to be right with this type of win rate. It is difficult to keep taking the trades.

The higher R makes up for the losses, but you have to be right in your head is what I'm saying. :nerd:
absolutely, i had a horrible day yesterday, and I struggled with head demons all night, but I know from painful memories the thing to do today was to wake up and trade the plan, exactly the same as yesterday... got the gj long and ej short and everything's rosey again
tradewith60
  • #2,626
  • Feb 7, 2013 8:49am Feb 7, 2013 8:49am
Hi 60minuteman, just came across this thread. Just wondering how you are going on this method since starting last March. It is similiar to one I learnt here with a bloke called Kerry Johnson. Is taking E/J short breaking your rule 1?
  • #2,627
  • Feb 7, 2013 8:49am Feb 7, 2013 8:49am
Quoting cugir321
The Bangkok trade....

On E/U and E/J the daily is far above the 50sma but daily candle closed bear yesterday. Do you judge how much distance you have to the 50sma on the daily if the 1hr and 5 min are below the 50sma? And use daily S/R's?

I see you're in E/J and the price is way above the 50sma on the daily.

I was just up 20 on E/U....moved to B/E and just got taken out at B/E.

What's your thoughts? Scale out some instead of giving it all back then go for 2:1? Or just take the loss? It was over 1:5 ratio
Hi Cugir... yes I have just been chatting to someone about this... the trend element..

That EJ wasnt a true Bangkok entry, it was countertrend, so it's just a cross trade really.

I'm a massive follower of daily close, if the previous day closed bearish im on the look out for any signs that shorts are in play.

With regards your EU i suppose you could use the cross trade on m5 to scalp 20 pips and get out, or even 10... you would have less losers but i'm more suited to letting them all run to bigger targets, but losing doesn't massively bother me anymore... im always looking at weekly profit
tradewith60
  • #2,628
  • Feb 7, 2013 8:52am Feb 7, 2013 8:52am
I'm really interested on your thougths about the daily....

Especially when the daily closes bear but the price is way above the 50sma....in respect to bangkok trade.
  • #2,629
  • Feb 7, 2013 8:55am Feb 7, 2013 8:55am
Quoting cugir321
I'm really interested on your thougths about the daily....

Especially when the daily closes bear but the price is way above the 50sma....in respect to bangkok trade.
i'll do you a pic
tradewith60
  • #2,630
  • Edited 9:43am Feb 7, 2013 9:12am | Edited 9:43am
Awesome trades, 60! Congrats!

Btw, what pairs do you trade on scalping mode (m5)?
  • #2,631
  • Feb 7, 2013 9:18am Feb 7, 2013 9:18am
Quoting 60minuteman
i'll do you a pic
here's a very quick explanation of reading the price action of a close... it needs much more explanation but should give you a little help

DAILY GCHF
Attached Image (click to enlarge)
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tradewith60
  • #2,632
  • Feb 7, 2013 9:25am Feb 7, 2013 9:25am
Eu daily... Giving you the heads up for more retrace
Attached Image (click to enlarge)
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tradewith60
  • #2,633
  • Feb 7, 2013 9:40am Feb 7, 2013 9:40am
That's interesting ....thanks!!! Makes sense.
Quoting 60minuteman
here's a very quick explanation of reading the price action of a close... it needs much more explanation but should give you a little help

DAILY GCHF
  • #2,634
  • Feb 7, 2013 9:53am Feb 7, 2013 9:53am
The current EJ swing is one of the biggest M15 swings I have ever seen. It is 283p and still going.
Attached Image (click to enlarge)
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  • #2,635
  • Feb 7, 2013 10:51am Feb 7, 2013 10:51am
Quoting Olarion1975
Awesome trades, 60! Congrats!

Btw, what pairs do you trade on scalping mode (m5)?
EU GU EJ GJ right now... keeping it simple on pair selection, M5 is easy when its all going well, but when you get chopped its important to have some clarity, i think if you tried too many pairs it could go wrong horribly
tradewith60
  • #2,636
  • Feb 7, 2013 10:58am Feb 7, 2013 10:58am
Quoting 60minuteman
M5 is easy when its all going well, but when you get chopped its important to have some clarity, i think if you tried too many pairs it could go wrong horribly

Ain't that the truth lol
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #2,637
  • Feb 7, 2013 11:12am Feb 7, 2013 11:12am
Quoting 60minuteman
EU GU EJ GJ right now... keeping it simple on pair selection, M5 is easy when its all going well, but when you get chopped its important to have some clarity, i think if you tried too many pairs it could go wrong horribly
Hi 60

I agree with you that keeping ones eyes on too many pairs is a recipe for disaster.
How do you choose which pairs to watch?

I guess you could look on the daily and see if the pair is trending or moving in a range
Anything else?

PGPB
  • #2,638
  • Feb 7, 2013 11:42am Feb 7, 2013 11:42am
Quoting pgpb
Hi 60

I agree with you that keeping ones eyes on too many pairs is a recipe for disaster.
How do you choose which pairs to watch?

I guess you could look on the daily and see if the pair is trending or moving in a range
Anything else?

PGPB
yeah exactly...also looking for something thats either over extended or retraced to good value...
tradewith60
  • #2,639
  • Feb 7, 2013 11:45am Feb 7, 2013 11:45am
I just started using this so bear with me....forgive me if I'm being redundent.

Have you guys talked about how the commander indicator hash marks are always pointed wrong when it's a retrace. Especially on the 5min. Then the magenta marks fall below the 50sma...then white, then blue.....then the setup with the big trend.

Anything I'm missing?
Attached Image (click to enlarge)
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  • #2,640
  • Feb 7, 2013 12:18pm Feb 7, 2013 12:18pm
Quoting cugir321
I just started using this so bear with me....forgive me if I'm being redundent.

Have you guys talked about how the commander indicator hash marks are always pointed wrong when it's a retrace. Especially on the 5min. Then the magenta marks fall below the 50sma...then white, then blue.....then the setup with the big trend.

Anything I'm missing?
I think you will have to pm Lio, I haven't be using it and it was made for m15 wether that bears any relevance i dont know
tradewith60
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