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Attachments: TEB 5ema & 12ema and 21 RSI (MTF)
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TEB 5ema & 12ema and 21 RSI (MTF)

  • #1,701
  • Jun 20, 2013 6:54am Jun 20, 2013 6:54am
How do I know it's going to be good risk/reward? Today I lost money. The first few trades I closed half at 10 pips and let the other half run. It only ran once. The other time I made half the amount I was stopped out. So yeah lost money today. Would love to know how to get a better Risk/Reard
  • #1,702
  • Jun 20, 2013 7:54am Jun 20, 2013 7:54am
Quoting puppypippy
How do I know it's going to be good risk/reward? Today I lost money. The first few trades I closed half at 10 pips and let the other half run. It only ran once. The other time I made half the amount I was stopped out. So yeah lost money today. Would love to know how to get a better Risk/Reard




this is the greatest art in trading
The easiest is to just find the stop with the last swing or candle stop etc
then make the target 3 times that
(of coarse there can be more to it then this, but this alone will win pips if you just win one out of 3 trades)
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  • #1,703
  • Jun 20, 2013 8:03am Jun 20, 2013 8:03am
OK so the 30M is down. The 5M crosses down and forms a bearish pin bar. I enter a short after break of that pin bar and place my stop above that pin bar. My profit is then 3 x my risk. That being the length of the pin bar? Do I take some profit at any stage before the take profit is hit"?
  • #1,704
  • Jun 20, 2013 8:14am Jun 20, 2013 8:14am
Quoting puppypippy
OK so the 30M is down. The 5M crosses down and forms a bearish pin bar. I enter a short after break of that pin bar and place my stop above that pin bar. My profit is then 3 x my risk. That being the length of the pin bar? Do I take some profit at any stage before the take profit is hit"?
you can do what ever you like but it changes the odds so I would say no -unless something else happens to change the trade rules
  • #1,705
  • Jun 20, 2013 8:20am Jun 20, 2013 8:20am
Teb just looking at the AUD/USD right now. Looks pretty good for a short if the pin bar is broken to the downside at the end of this current hour?
  • #1,706
  • Jun 20, 2013 8:21am Jun 20, 2013 8:21am
That last post is referring to the AUD on 4H chart. Daily is down and bearish pin bar forming on 4H
  • #1,707
  • Jun 20, 2013 8:23am Jun 20, 2013 8:23am
So if all of that is right I could put a sell order under that pin bar that expires in 4 hours with a stop above the pin bar and a limit order at 3 x the risk. Yes?
  • #1,708
  • Edited 10:33am Jun 20, 2013 9:11am | Edited 10:33am
Quoting puppypippy
That last post is referring to the AUD on 4H chart. Daily is down and bearish pin bar forming on 4H

well you could but the pin is going the wrong way - so its not really a pin candle
on my charts you its the tail down and the body up- (right) in a down trend this is not a pin
send the picture of your charts

this is not a pin break but something a little more complex
it still may work well but for other reasons altogether different from the pin
BUT
if you with the day trend and the 4 hour tend almost everything works and everything else is forgiven !!
lol
  • #1,709
  • Edited 11:04am Jun 20, 2013 10:25am | Edited 11:04am
Quoting puppypippy
That last post is referring to the AUD on 4H chart. Daily is down and bearish pin bar forming on 4H
I would not take this trade - on this system's rules we have no retracement

the 4th aces so to speak is the cross on the smaller TF chart and this is to give you a good entry.
ie. a retracement - the key
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  • #1,710
  • Jun 20, 2013 11:01am Jun 20, 2013 11:01am
if people are going to trade this short term make sure you have the flow


Only 3 times that can really traded - short term
(1) now is the best 2am (3am) to noon New York time
(2) 2am to 4pm - traders may be squaring accounts and not trading trend
(3) the Japan time - much smaller flow
and everyone in jpy time from japan tent to do the same thing as they all watch the Ichimoku Kinko Hyo system
- its a nation past time esp. at thier lunch time
so you get crazy moves out of nowhere - from the charts we use anyways
esp. on the JPY crosses

so the 2am (3am) to noon is the only time I would trade this on the 30/5 min TF
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  • #1,711
  • Edited 2:31pm Jun 20, 2013 1:49pm | Edited 2:31pm
well today and yesterday clearly show what is up!

Guys like crammer on CNBC and other were saying this Stock rally was real - had legs
I thought they were a bit daff

If it was real why did it not rise faster!
and why was the Volume so low ?
they were saying because the little guy was afraid to come in!

I thought all along it was the big boys pushing it up.
(1) because they could and (2) with a free lunch on the Fed
(3) and they knew it would drop fast where the fed changes

just a hint the free lunch may end some where down the road (and not to soon either!)
and the USA Stock marks nose dive.

When the lunch really is over - wow

S&P drops 100s in two days !

teb
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  • #1,712
  • Jun 20, 2013 2:19pm Jun 20, 2013 2:19pm
maybe we will have a little life in this trade yet lol

what a dead day -
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  • #1,713
  • Jun 21, 2013 6:34am Jun 21, 2013 6:34am
The EurUsd best trending market
maybe a trade on the 4/1 hour charts looking to get in at a retest of the IC
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  • #1,714
  • Jun 21, 2013 7:35am Jun 21, 2013 7:35am
Quoting TEB63
The EurUsd best trending market maybe a trade on the 4/1 hour charts looking to get in at a retest of the IC {image}

looks like I missed this trade it has moved 65 pips from my limit entry to the good. It would have been a good trade~
cannot get them all

teb
  • #1,715
  • Jun 21, 2013 9:07am Jun 21, 2013 9:07am
could be a bad stock day again today

if this level breaks look out
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  • #1,716
  • Jun 21, 2013 9:39am Jun 21, 2013 9:39am
Hopefully a late day rally
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  • #1,717
  • Jun 21, 2013 11:46am Jun 21, 2013 11:46am
I love it when a plan comes together!
I just wish I was in it lol
I missed the entry by 2 pips !!!!!!!!!!!!

teb
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  • #1,718
  • Jun 23, 2013 9:40pm Jun 23, 2013 9:40pm
Nice work! Teb you were saying you RR is 3 to 1. Is there any point at which you move to break even?
  • #1,719
  • Edited 7:20am Jun 24, 2013 7:04am | Edited 7:20am
Quoting puppypippy
Nice work! Teb you were saying you RR is 3 to 1. Is there any point at which you move to break even?
on larger trades around 120 pips to the good I will move to B/E
  • #1,720
  • Jun 24, 2013 7:18am Jun 24, 2013 7:18am
I am going to be doing a trading journal

RSI and TEB BBands Systems

http://www.forexfactory.com/showthread.php?t=433936

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