Hi,
have read the first 150 or so posts but still need a bit of clarity
We trade if current candle same colour as daily candle, is that the current day candle or the previous day candle colour, I read post #9 (its the current day) but want to make sure I got it right. Its making sure the current STATE of candle matches hourly / below or above open ?
Does TP of 10 pips take spread as well, so is that 10- pips + spread, my broker spread for GJ is around 5 to 6. 7 pips, EJ is 3.2 so target of 10 is 16 and 13.
Same for SL is that SL + spread.?
Post 56 You trade / check charts each hour taking entry off of 15 minute yes ?
Can take trade ANY hour between LOpen and end NY until daily target reached and to avoid news. You say LO is best but that maybe news so really anywhere in the session we are looking for the right entry criteria?
Entries, just want to understand fully, if at the end of the hour if selling if hour price closes below say 171.60 you place pending at 171.60 i.e behind the last 10 level passed, or do you place pending at next 10 level, I ask becuase you don't know which is going to come first, if price closes below daily open and the hour candle just passed was red and say price closed at 5 level then you have choice of 10 above or below, so which one would you do first, or pending both and remove other once one is hit.?
same for buys , you buy behind the last 10 level passed?
Lastly my charts seem to be different despite loading template up. I do understand MT4 but its got me how mine is so different. anyone else had any probls ?
Or the question I could add to that is I think I have enough on my charts to trade with even if something is missing, would that be right ?
Thank you everyone
PG
have read the first 150 or so posts but still need a bit of clarity
We trade if current candle same colour as daily candle, is that the current day candle or the previous day candle colour, I read post #9 (its the current day) but want to make sure I got it right. Its making sure the current STATE of candle matches hourly / below or above open ?
Does TP of 10 pips take spread as well, so is that 10- pips + spread, my broker spread for GJ is around 5 to 6. 7 pips, EJ is 3.2 so target of 10 is 16 and 13.
Same for SL is that SL + spread.?
Post 56 You trade / check charts each hour taking entry off of 15 minute yes ?
Can take trade ANY hour between LOpen and end NY until daily target reached and to avoid news. You say LO is best but that maybe news so really anywhere in the session we are looking for the right entry criteria?
Entries, just want to understand fully, if at the end of the hour if selling if hour price closes below say 171.60 you place pending at 171.60 i.e behind the last 10 level passed, or do you place pending at next 10 level, I ask becuase you don't know which is going to come first, if price closes below daily open and the hour candle just passed was red and say price closed at 5 level then you have choice of 10 above or below, so which one would you do first, or pending both and remove other once one is hit.?
same for buys , you buy behind the last 10 level passed?
Lastly my charts seem to be different despite loading template up. I do understand MT4 but its got me how mine is so different. anyone else had any probls ?
Or the question I could add to that is I think I have enough on my charts to trade with even if something is missing, would that be right ?
Thank you everyone
PG
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