Great stuff rifid. Great strategy and explanation. I mostly have traded flat top/ bottom triangles on longer time frames but your strategy & eplanation has added a whole new dimension to my trading approach. Thanks again for sharing your ideas.
Hi rifid
Thanks for sharing your trade records of last week.
As homework, I went over every trade on my charts to see and learn what you did. Need to clarify a few points as some results don't quite seem to tally...
2 June, u/j 15.20 Loss 2% (long trade) -- I see price went to at least 75% of target before turning, so stop loss would have been moved to BE. You reported a 2% loss here.
2 June, G/j 21.05 Loss 2% (long trade) -- same as u/j above, I see BE instead of -2%.
3 June, g/j 7.35 B/E 0 (short trade) -- price didn't reach 75% of target, perhaps only about 50%. How was this trade exited at BE? Was there a special consideration, e.g. news release?
3 June, a/u 16.40 B/E 0 (short trade) -- price barely moved for Aussie after entry; again how was the trade exited at BE? Was there a manual exit which avoided a loss?
4 June, us/chf 3.45 Win 8% (long trade) -- I see price went up about 10 pips before heading south. If trade was exited at the top, it would have been 4% (or +2R). How did you do 8%?
General question: on some trades, it appears that stop loss was hit if we factor in the spread. So, does the 5-pip stop loss include or exclude the spread?
Rifid, your clarifications will certainly go a long way in helping me (and members who have looked at the said trades on their charts) learn the fine points of your 4R/1R method. Thanks again for sharing, cheers
Thanks for sharing your trade records of last week.
As homework, I went over every trade on my charts to see and learn what you did. Need to clarify a few points as some results don't quite seem to tally...
2 June, u/j 15.20 Loss 2% (long trade) -- I see price went to at least 75% of target before turning, so stop loss would have been moved to BE. You reported a 2% loss here.
2 June, G/j 21.05 Loss 2% (long trade) -- same as u/j above, I see BE instead of -2%.
3 June, g/j 7.35 B/E 0 (short trade) -- price didn't reach 75% of target, perhaps only about 50%. How was this trade exited at BE? Was there a special consideration, e.g. news release?
3 June, a/u 16.40 B/E 0 (short trade) -- price barely moved for Aussie after entry; again how was the trade exited at BE? Was there a manual exit which avoided a loss?
4 June, us/chf 3.45 Win 8% (long trade) -- I see price went up about 10 pips before heading south. If trade was exited at the top, it would have been 4% (or +2R). How did you do 8%?
General question: on some trades, it appears that stop loss was hit if we factor in the spread. So, does the 5-pip stop loss include or exclude the spread?
Rifid, your clarifications will certainly go a long way in helping me (and members who have looked at the said trades on their charts) learn the fine points of your 4R/1R method. Thanks again for sharing, cheers
- #463
- Jun 8, 2014 4:04pm Jun 8, 2014 4:04pm
- Joined Aug 2010 | Status: Noli Timere Messorem | 252 Posts
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