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  • Post #241
  • Quote
  • May 14, 2013 7:27pm May 14, 2013 7:27pm
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting driven18
Disliked
ILZ...few questions 1. You re-entered EURUSD where the yellow arrow is, correct? 2. Why did you place Stop Loss at 1.3029 and not at previous R+3 1.3054(where checkmark is)? {image}
Ignored
He driven,

Technically, that line has passed. However, one could place the initial SL at that point. I just choose to go with my initial. I pre-programmed my Oanda FXTrade to place a 100 pip stop. Then I move it as needed. This time I just left it.

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #242
  • Quote
  • May 14, 2013 7:28pm May 14, 2013 7:28pm
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting driven18
Disliked
Just veryfying if USDJPY is a valid trade on the yellow arrow with Stop loss under the R(yellow checkmark) {image}
Ignored
that would be a yes my friend.

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #243
  • Quote
  • May 14, 2013 8:02pm May 14, 2013 8:02pm
  •  driven18
  • Joined Jul 2012 | Status: Member | 836 Posts
ILZ, you have placed a Stop for this trade at the Green R/S Line(yellow arrow)

But support for this trade is at the red line(see red arrow)...

Do you count green line as a Support also and it is a nearest S/R point for you?
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  • Post #244
  • Quote
  • May 14, 2013 8:06pm May 14, 2013 8:06pm
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Trade Update ( 5PM PST Candle)

Short AUD/USD @1.01881 Current Stop 0.99408. +247.3 Secured

Long EUR/JPY @131.193. Current Stop 131.509. +31.6 Secured

Short EUR/USD @ 1.29990. Current Stop @ 1.29900 +9.0 Secured

GBP/JPY - NOTHING

Short GBP/USD @ 1.52234. Current Stop @ 1.53333

Long USD/CAD @ 1.01725. Current Stop @ 1.01290

Long USD/CHF @0.96554. Current Stop @ 0.95554

Long USD/JPY @ 102.286. Current Stop @ 101.286

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #245
  • Quote
  • May 14, 2013 8:10pm May 14, 2013 8:10pm
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting driven18
Disliked
ILZ, you have placed a Stop for this trade at the Green R/S Line(yellow arrow) But support for this trade is at the red line(see red arrow)... Do you count green line as a Support also and it is a nearest S/R point for you? {image}
Ignored
Hey driven,

No, not exactly. The move has been going on for awhile. My belief is that at some point it will retrace. I am trying to secure as much as possible. it is known that sometimes previous S&R lines can reverse. Support becomes resistance and so forth. Again, this is a money management decision. I have several trades open that are not yet secure. To insure against a possible loss, I am securing more profit to offset any possible losses. Remember, this is business. Treat it as such.



-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #246
  • Quote
  • May 14, 2013 8:26pm May 14, 2013 8:26pm
  •  driven18
  • Joined Jul 2012 | Status: Member | 836 Posts
Quoting ilzalama
Disliked
{quote} Hey driven, No, not exactly. The move has been going on for awhile. My belief is that at some point it will retrace. I am trying to secure as much as possible. it is known that sometimes previous S&R lines can reverse. Support becomes resistance and so forth. Again, this is a money management decision. I have several trades open that are not yet secure. To insure against a possible loss, I am securing more profit to offset any possible losses. Remember, this is business. Treat it as such. -ILZ
Ignored

So this stop was arbitrary or still within rules and at the green R/S line?

Do you always consider green line in the down move as S/R for purpose of moving stops?
 
 
  • Post #247
  • Quote
  • May 14, 2013 8:58pm May 14, 2013 8:58pm
  •  Bavarious
  • | Joined May 2013 | Status: Junior Member | 1 Post
Quoting ashtrader
Disliked
Hi ILZ, Are my charts similar to yours this was my re-entry of aussie trade after 1st stop out {image}
Ignored
I thought price had to close below the supertrend for a short?
 
 
  • Post #248
  • Quote
  • May 14, 2013 9:02pm May 14, 2013 9:02pm
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting driven18
Disliked
{quote} So this stop was arbitrary or still within rules and at the green R/S line? Do you always consider green line in the down move as S/R for purpose of moving stops?
Ignored
It is more aggressive. It is not arbitary in the least. Again, sometimes previous S&R lines can reverse. Support becomes resistance and vice versa. I don't always but sometimes. I may or may not. It depends. Like in this situation, as explained above, I have several trades open that are not yet secure. To insure against a possible loss, I am securing more profit to offset any possible losses. So I move my stop to an established support line that has been broken. FX is dynamic, not static. It is always changing.

Here is an example,

Lets say your in a trade, GBP/USD lets say, BOE makes an announcement, BAM market shoots 400 pips in your direction. What would you do?

Close?

Adjust?

Nothing?

Whats the right thing to do here?

Are you going to wait for PA to retrace, which it might or might not, and wait for S&R line to appear?

Going to close and take a huge win? But it might continue after a small retrace and go for another a few hundred or it might not. Yes you can get back in but you run the risk of reversal. Then you end up loosing a chunk of what you made.

There is no right answer because you do not know what is going to happen. You only know whats happening now. Make a decision, and get an outcome.



-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #249
  • Quote
  • Edited 11:11pm May 14, 2013 9:45pm | Edited 11:11pm
  •  pundit78
  • Joined Jan 2013 | Status: Member | 1,561 Posts
Quoting ilzalama
Disliked
Trade Update ( 5PM PST Candle) Short AUD/USD @1.01881 Current Stop 0.99408. +247.3 Secured Long EUR/JPY @131.193. Current Stop 131.509. +31.6 Secured Short EUR/USD @ 1.29990. Current Stop @ 1.29900 +9.0 Secured GBP/JPY - NOTHING Short GBP/USD @ 1.52234. Current Stop @ 1.53333 Long USD/CAD @ 1.01725. Current Stop @ 1.01290 Long USD/CHF @0.96554. Current Stop @ 0.95554 Long USD/JPY @ 102.286. Current Stop @ 101.286 Gold - NOTHING -ILZ
Ignored
Hi Ilz,

First of all thanks for sharing your trading method and congrats for all your winning trades, I have a little confusion on TP (I have not read the whole thread sorry but read first page explaining method and rules) should it be a next S/R or you have another criteria for closing the trade, also I will be grateful if you explain a bit about re-entering the trade.

Sorry if all these questions have been answered earlier, I am in a day job so could not get time to read the whole thread (although only 12 - 13 pages to read) but definitely will have a look on weekend.
Contact for Account Management. R:R 1:3
 
 
  • Post #250
  • Quote
  • May 15, 2013 12:12am May 15, 2013 12:12am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Trade Update ( 9PM PST Candle)

Short AUD/USD @1.01881 Current Stop 0.99188. +269.3 Secured

Long EUR/JPY @131.193. Current Stop 131.509. +31.6 Secured

Short EUR/USD @ 1.29990. Current Stop @ 1.29440 +55.0 Secured

GBP/JPY - NOTHING

Short GBP/USD @ 1.52234. Current Stop @ 1.52804

Long USD/CAD @ 1.01725. Current Stop @ 1.01290

Long USD/CHF @0.96554. Current Stop @ 0.95920

Long USD/JPY @ 102.286. Current Stop @ 101.286

Gold - NOTHING

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #251
  • Quote
  • May 15, 2013 12:19am May 15, 2013 12:19am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting pundit78
Disliked
{quote} Hi Ilz, First of all thanks for sharing your trading method and congrats for all your winning trades, I have a little confusion on TP (I have not read the whole thread sorry but read first page explaining method and rules) should it be a next S/R or you have another criteria for closing the trade, also I will be grateful if you explain a bit about re-entering the trade. Sorry if all these questions have been answered earlier, I am in a day job so could not get time to read the whole thread (although only 12 - 13 pages to read) but definitely...
Ignored
Hey pundit,

Thank you. Let me suggest that you take the time to read the thread. there is a lot of information to be found. if after you have read everything and you still have questions, please feel free to ask away.



-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #252
  • Quote
  • May 15, 2013 12:20am May 15, 2013 12:20am
  •  Oyapoke
  • | Joined Feb 2011 | Status: Member | 67 Posts
Hello ILZ, Thanks for your valuable information. Can you tell sometimes if you come before the end of a candle? To make a trade or close an other. For example, last night I was hesitant to take long for USD-CAD. The candle had clearly broken the 200 SMA before closing.
Thanks
Best regards

Oyapoke
 
 
  • Post #253
  • Quote
  • May 15, 2013 12:47am May 15, 2013 12:47am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting Oyapoke
Disliked
Hello ILZ, Thanks for your valuable information. Can you tell sometimes if you come before the end of a candle? To make a trade or close an other. For example, last night I was hesitant to take long for USD-CAD. The candle had clearly broken the 200 SMA before closing. Thanks Best regards Oyapoke
Ignored
hey Oya,

Im not sure I understand your question. Can you ask it in a different way?

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #254
  • Quote
  • May 15, 2013 2:04am May 15, 2013 2:04am
  •  Oyapoke
  • | Joined Feb 2011 | Status: Member | 67 Posts
ILZ, please excuse for my bad English (I'm french...)

Sometimes, do you take a trade, or close a trade before the end of a period of H4, for example because of a strong movement or break of super trend or 200 SMA?

Or so is what you always expect the end of a candle?

Thanks
Best regards

Oya
 
 
  • Post #255
  • Quote
  • May 15, 2013 3:03am May 15, 2013 3:03am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting Oyapoke
Disliked
ILZ, please excuse for my bad English (I'm french...) Sometimes, do you take a trade, or close a trade before the end of a period of H4, for example because of a strong movement or break of super trend or 200 SMA? Or so is what you always expect the end of a candle? Thanks Best regards Oya
Ignored
Hey Oya,

C'est OK. Mon franais n'est pas trs bon non plus.

It happens sometimes but mostly to close trade if its going negitive. I do not do it to open a trade.

-ILZ
“Control, control, you must learn control!” - Yoda
 
 
  • Post #256
  • Quote
  • May 15, 2013 3:13am May 15, 2013 3:13am
  •  Oyapoke
  • | Joined Feb 2011 | Status: Member | 67 Posts
Thanks very much ILZ!
 
 
  • Post #257
  • Quote
  • May 15, 2013 3:21am May 15, 2013 3:21am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting Oyapoke
Disliked
Thanks very much ILZ!
Ignored
“Control, control, you must learn control!” - Yoda
 
 
  • Post #258
  • Quote
  • May 15, 2013 3:42am May 15, 2013 3:42am
  •  Kasia
  • | Commercial Member | Joined Mar 2012 | 105 Posts
Hi,
I adapted one of my robots to the trading according to the rules Ilz. They are not a 100 % the same rules, but can be a system will make a profit. Time will tell. Thanks for the inspiration Ilz
http://www.myfxbook.com/members/Trej...ner-096/570924


http://s17.postimg.org/8kcudlnjj/2013_05_15_091708.png
screenshot program

http://s23.postimg.org/q9obyez0r/2013_05_15_092118.png
how to screen capture


I'm sorry if off topic
 
 
  • Post #259
  • Quote
  • May 15, 2013 3:49am May 15, 2013 3:49am
  •  shiva
  • Joined Aug 2007 | Status: Doing It In Dubai | 2,457 Posts
Nice work kasia, a robot will save the trouble of scanning many chart windows, would you mind sharing the robot here?
Quoting Kasia
Disliked
Hi, I adapted one of my robots to the trading according to the rules Ilz. They are not a 100 % the same rules, but can be a system will make a profit. Time will tell. Thanks for the inspiration Ilz http://www.myfxbook.com/members/Trej...ner-096/570924 {image} screenshot program {image} how to screen capture I'm sorry if off topic
Ignored
 
 
  • Post #260
  • Quote
  • May 15, 2013 3:49am May 15, 2013 3:49am
  •  ilzalama
  • | Joined Jan 2007 | Status: Pipin' Ain't Easy | 219 Posts
Quoting Kasia
Disliked
Hi, I adapted one of my robots to the trading according to the rules Ilz. They are not a 100 % the same rules, but can be a system will make a profit. Time will tell. Thanks for the inspiration Ilz http://www.myfxbook.com/members/Trej...ner-096/570924 {image} screenshot program {image} how to screen capture I'm sorry if off topic
Ignored
Hey Kasia,

Its ok. Good luck with that. Lets try to stay on topic.



-ILZ
“Control, control, you must learn control!” - Yoda
 
 
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