talked myself out of the EU trade... gotta remember to just play the numbers.... it's R/R not high win rate that makes this tick...
tradewith60
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DislikedHi 60min and everone, I've been following this thread. It has a good concept. Thanks to 60min for sharing. Took some trades using this strategy today. {image} H4 in EU and GU shows buy engulf (shown by the purple rounded rectangle) Engulf happend in m15 in both pairs. I entered my orders after candle close. EU #1 was triggered and stoped out. GU was not triggered and the order was deleted after observing the PA. Engulf happened in both pairs @ #2. Orders where put in. The orders were not triggered on the following candle but watching the PA , I...Ignored
DislikedHi 60min and everone, I've been following this thread. It has a good concept. Thanks to 60min for sharing. Took some trades using this strategy today. {image} H4 in EU and GU shows buy engulf (shown by the purple rounded rectangle) Engulf happend in m15 in both pairs. I entered my orders after candle close. EU #1 was triggered and stoped out. GU was not triggered and the order was deleted after observing the PA. PA , I kept my orders and they were triggered @ #3. H4 is looking good, so I'll probably wait and trail the SLs behind last H4 low.Ignored
Disliked''EU #1 was triggered and stoped out. '' - the candle your arrow is pointing at is reversal candle not an engulf. so why would you enter long there ? your long entry would have been a few candles back.Ignored
QuoteDisliked''Engulf happened in both pairs @ #2. Orders where put in. The orders were not triggered on the following candle'' - not too sure what you mean. at #2 it was an engulfing candle. so you would have entered long immediately at the opening of the next candle. so what do you mean when you say orders were put in ? and not triggered till #3 ?
DislikedEngulf happened on the previous candle. At #1 the order was triggered on EU. You can enter trades either by executing immediately after engulf happens or by entering orders above/below the high/low of the engulf candle. I prefer the latter approach. It seems to filter out some bad trades.Ignored
Dislikedon m15 eu, there were 3 englulfs prior to the entry. why didnt you enter there ?Ignored
QuoteDislikedon gu m15, did you open two longs, one at #1 and #2, and leave both running ?
QuoteDislikedmaybe it is a better idea to enter on a pullback following the h4 engulf. something to think about.
i personally would not enter on m15 unless it is in line with h1, following a h4 engulf. i would also base my entries after analysing all three m15 m5 and m1 charts. even if m15 did show an engulf i would wait until both m5 and m1 are in agreement.
DislikedThanks 60min, GU is looking good on H4 but it's not moving as I anticipated. Suppose the next H4 candle closes down but not so down to trigger the SL. Would you take the loss or would you let the trade go?Ignored
DislikedIts a hard one to answer, sometimes closing is a good idea, sometimes letting the trade run sl or tp is a good idea, maybe the best thing is for each trader to decide what he prefers and then be consistent with that.Ignored
QuoteDislikedOn H4 letting my trades run longer is what makes the most difference to my results, I find myself wishing I had stayed in more often than wishing I had closed....
DislikedThat's interesting ... Have you read the following thread? Building an equity millipede It has many things to ponder about. I think you will like the concept.Ignored
DislikedWhy didn't you take the EU setup? Was it not valid on your charts? sek & nok ... I'll take a lookIgnored
DislikedUpdate... {image} Both pairs are looking good. EU is in the Weekly S/R zone. One could take profit right now. But looking at the weekly chart ... {image} I think I'll BE the trade after H4 close and keep it and see what happens. As for GU I'll probably trail the stop below H4 Low until stopped.Ignored