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Trading Price Levels

  • #81
  • Mar 25, 2013 11:59pm Mar 25, 2013 11:59pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting freakout
my R:R is always 1:1, but due to late entry SL more often get hit than the TP level...
So it would be better to not take these trades that are too far from the level.
MT4/MT5 EAs/Indicators/Alerts coder
  • #82
  • Mar 26, 2013 1:48am Mar 26, 2013 1:48am
Hello Everyone,

with my knowledge An exciting strategy to stages, your idea's have created me sit up and have another think about stages, thank you.
How you choose your begin cost is of attention to me, but as this query has been requested in previously content I will never engage in it here.

What I will provide is my concept about how to choose the "start price" for the stages, and I would appreciate other feedback about this. I look at a more time TF, per month is where I tried this, decide on a move factor great or low as appropriate, near to the present PA. Then I set the signal "start price" to that stage and choose A and B, ie, stages above and below. See connected photos.
  • #83
  • Mar 26, 2013 3:20am Mar 26, 2013 3:20am
Quoting freakout
you're trading only on H4 timeframe or on H1 too? still don't know which to choose, because H1 gives sometimes false signals and on H4 we lose many pips opening trade too late...
hi,NOT H1 ONLY H4,it refers only H4 and ONLY IBFX-chart
Money is made by sitting, not trading. Jesse L. Livermore
  • #84
  • Mar 26, 2013 3:26am Mar 26, 2013 3:26am
Quoting freakout
my R:R is always 1:1, but due to late entry SL more often get hit than the TP level...
you should pay attention that you dont have a late entry,this pending order thing is exactly because of this and if you enter not at a major level then your sl shouldnt be the next major level but rather next medium level,so your RR must be always >=1:1
Money is made by sitting, not trading. Jesse L. Livermore
  • #85
  • Mar 26, 2013 3:27am Mar 26, 2013 3:27am
Quoting FerruFx
So it would be better to not take these trades that are too far from the level.
Money is made by sitting, not trading. Jesse L. Livermore
  • #86
  • Mar 26, 2013 3:31am Mar 26, 2013 3:31am
Quoting zeshan5
Hello Everyone,

with my knowledge An exciting strategy to stages, your idea's have created me sit up and have another think about stages, thank you.
How you choose your begin cost is of attention to me, but as this query has been requested in previously content I will never engage in it here.

What I will provide is my concept about how to choose the "start price" for the stages, and I would appreciate other feedback about this. I look at a more time TF, per month is where I tried this, decide on a move factor great or low as appropriate,...
hello,
i couldnt understand your post exactly,but it seems to be similar to this one http://www.forexfactory.com/showthre...20#post6529220 and if its so then the answer were this http://www.forexfactory.com/showthre...64#post6529264
Money is made by sitting, not trading. Jesse L. Livermore
  • #87
  • Mar 27, 2013 8:17pm Mar 27, 2013 8:17pm
Quoting sam69
tp hit,pending buy ej @120.38...
finally got triggered,lets see...
Money is made by sitting, not trading. Jesse L. Livermore
  • #88
  • Mar 28, 2013 4:18am Mar 28, 2013 4:18am
Hi Sam

Your trading method is easy to understand and the trigger for the trade looks uncomplicated. Will give this method a Go.

I've sold EU - fingers closed -

Thanks for sharing!
  • #89
  • Mar 28, 2013 7:28am Mar 28, 2013 7:28am
Quoting lilies
Hi Sam

Your trading method is easy to understand and the trigger for the trade looks uncomplicated. Will give this method a Go.

I've sold EU - fingers closed -

Thanks for sharing!
hi,yes simple is the best,i have missed this sell on eu from 1.2923 to 1.2803,prevous sell was a loss,now i entered manually
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 20 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #90
  • Mar 28, 2013 8:19am Mar 28, 2013 8:19am
Quoting sam69
hi,yes simple is the best,i have missed this sell on eu from 1.2923 to 1.2803,prevous sell was a loss,now i entered manually
emerggency stop @2803
Money is made by sitting, not trading. Jesse L. Livermore
  • #91
  • Mar 29, 2013 1:07am Mar 29, 2013 1:07am
hmmm...both are at my entry points....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.png Size: 19 KB
Click to Enlarge Name: ej.png Size: 19 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #92
  • Mar 29, 2013 2:50am Mar 29, 2013 2:50am
Hi Sam,
Normally i see EU and EJ run up or down in the same way, so i don't understand why you sell EU, buy EJ? Please explain if i was wrong
Cheers
  • #93
  • Mar 29, 2013 5:53am Mar 29, 2013 5:53am
Quoting chrjtm
Hi Sam,
Normally i see EU and EJ run up or down in the same way, so i don't understand why you sell EU, buy EJ? Please explain if i was wrong
Cheers
yes,you are right,they are positive correlated,they move more or less the same direction but not always the same way/speed,i.e. if eu goes down but uj(usdjpy) moves up then ej will consolidate and if eu and uj move the same way then ej moves the way faster than eu,this method i have made as mechanical as possible so i dont need to spend time to analyse my trades because of my time, therefore these big sl and tp's,yes i have doubts when they should be traded the opposite way,but it had reached both theyr targets,i.e. eu goes higher and hit target but ej goes the half way and they come both down again,this is not for short term trading
see below the reason for the trades...
Attached Images
Money is made by sitting, not trading. Jesse L. Livermore
  • #94
  • Mar 29, 2013 7:48am Mar 29, 2013 7:48am
ok, closed ej @120.58,let eu run,see you next month...
Money is made by sitting, not trading. Jesse L. Livermore
  • #95
  • Mar 30, 2013 2:46am Mar 30, 2013 2:46am
Please i have a questions
pls which candle do we use as our buy or sell above the line
is the candle that hit the take profit or the next candle.


The candle that hit our take profit line say for a buy is it the same candle that we would also use to enter the next trade or do we wait for the close of the next candle
  • #96
  • Mar 31, 2013 8:50pm Mar 31, 2013 8:50pm
Quoting cku
Please i have a questions pls which candle do we use as our buy or sell above the line is the candle that hit the take profit or the next candle. The candle that hit our take profit line say for a buy is it the same candle that we would also use to enter the next trade or do we wait for the close of the next candle
hi cku,
please look at the picture...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 65 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #97
  • Mar 31, 2013 8:54pm Mar 31, 2013 8:54pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Why don't you set your order on the 1st candle but on the 2nd ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #98
  • Mar 31, 2013 9:04pm Mar 31, 2013 9:04pm
Quoting FerruFx
Why don't you set your order on the 1st candle but on the 2nd ?
hey Ferrufx,
the decision to buy or sell is what price did when it hit a level the first time,the first 4h candle so to speek,for me if you make decision after second candle close may be too late,in most cases the third or fourth candle never touches the level again if it want to go our direction,this is only my observation therefore your question is very good and we should all make research on variable entry or exit option,it was my will also people make improve it
Money is made by sitting, not trading. Jesse L. Livermore
  • #99
  • Apr 1, 2013 2:02am Apr 1, 2013 2:02am
Tnx Sam for ur reply
I love this Thread
i have to study it more
cheers
  • #100
  • Apr 1, 2013 11:48am Apr 1, 2013 11:48am
Hey sam,

It's interesting to find a thread like this. I'm glad to see someone has been using this successfully. In an effort to make my trading life easier, I have been flirting with the idea of trading by price levels. Currently, I am back-testing price levels in the xx00 and xx50 with a rule set that is very similar to yours. Very excited to see this thread progress forward.
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