I am not sure whether this is a good hooking structure.
Trading with Deadly Accuracy
Using this technique we are identifying precise entry points for our trades. Any significant breach of those levels would in effect nullify the validity of the trades.
I used to use a hard stop of 40 pips. However, different instruments exhibit varying degrees of volatility. I have taken the spread as an arbitary measure of that. So 10 times spread is typically more then enough.
EU - 20-25 pips
GU - 30-40 pips
EY - 35-50 pips
GY - 60-80 pips
UC - 40-50 pips
Sry but I really dont understand relation between spread and SL
It was meant as a general guide using the spread to reflect general volatility in a cross.
Theres a whole issue about 'Right & Wrong' and marrying that with risk definition.
So for example if you are trading the underside of an upward sloping wall, from a technical view point you would be right for playing the short even if the price moved higher, however that would not necessarily bode well for risk definition. Further each entry technique has its own rules for defining a right or wrong decision, defining bias, defining risk and stop placement.
I've delivered several webinars on this subject, but if you need further clarification get in touch on skype and i'll show you on charts using screen share.
Theres a whole issue about 'Right & Wrong' and marrying that with risk definition.
So for example if you are trading the underside of an upward sloping wall, from a technical view point you would be right for playing the short even if the price moved higher, however that would not necessarily bode well for risk definition. Further each entry technique has its own rules for defining a right or wrong decision, defining bias, defining risk and stop placement.
I've delivered several webinars on this subject, but if you need further clarification get in touch on skype and i'll show you on charts using screen share.
Do you use SL like wmd? Wmd... do you use this kind of SL or have you improved it?
Sry but I really dont understand relation between spread and SL
- #2,653
- Apr 17, 2013 3:41am Apr 17, 2013 3:41am
I've posted on Yen seasonal pattern before in this thread. It's something I find interesting. I wonder if the seasonal spot high (low in futures) will kick in on schedule? After such as dramatic rise, it's less likely, but certainly worth keeping an eye on.
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- #2,655
- Apr 26, 2013 3:35am Apr 26, 2013 3:35am
Classic 'wmd hook' entry technique... alive and well.
I wanted to record this for my pattern book as it happened on this commodity so perfectly (pip perfect) three days in a row in a down move... but thought I should upload it here since I learnt it from the master.
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I wanted to record this for my pattern book as it happened on this commodity so perfectly (pip perfect) three days in a row in a down move... but thought I should upload it here since I learnt it from the master.
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- #2,657
- Apr 27, 2013 11:39pm Apr 27, 2013 11:39pm
- | Joined Apr 2008 | Status: Trader | 1,040 Posts
Good Trading
