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Genuine 5m 4R/R system

  • #1,181
  • Jun 20, 2014 8:17am Jun 20, 2014 8:17am
Quoting PipsiKoala
{quote} Hi bobbles I took the UJ trade as well but got kicked out at S/L It went just a pip lower and now has gone north. Oh well...
I put the SL at 10202, just under the swing low, so my risk is 7 pips (entry at 10209). I must admit I am not trading it quite like rifid. I have put 2 lots on, one to close at 1:1, the other at 4:1.
  • #1,182
  • Jun 20, 2014 9:18am Jun 20, 2014 9:18am
What a beauty here.....

This is sure a news related drop... however the trend is down anyway....

So cause of the news will we disregard putting a pending order in this UCAD pair ??
Attached Image (click to enlarge)
Click to Enlarge Name: UCAD.png Size: 44 KB
  • #1,183
  • Jun 20, 2014 9:26am Jun 20, 2014 9:26am
Hello everyone, am away ATM on family matters and should be back in the room late next week, anyone keen on the system i can get you into the trading room then and join the crowd,see you then,good trading
RIFID.
Mostly all good charts posted lately BTW
patience is bitter, but its fruit is sweet
  • #1,184
  • Jun 20, 2014 10:08am Jun 20, 2014 10:08am
Quoting Amanfx
What a beauty here..... This is sure a news related drop... however the trend is down anyway.... So cause of the news will we disregard putting a pending order in this UCAD pair ?? {image}
Hi Amanfx

I believe there was a setup just before CAD news broke, as depicted. I would have taken the trade given the trend bias, like you've mentioned. Would you?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB
  • #1,185
  • Jun 20, 2014 10:11am Jun 20, 2014 10:11am
Quoting bobbles
{quote} I put the SL at 10202, just under the swing low, so my risk is 7 pips (entry at 10209). I must admit I am not trading it quite like rifid. I have put 2 lots on, one to close at 1:1, the other at 4:1.
Good one, on that technical stop loss!

And you've just hit first target, congrats Onwards with more pips!!! Cheers
  • #1,186
  • Jun 20, 2014 10:14am Jun 20, 2014 10:14am
Quoting PipsiKoala
{quote} Hi Amanfx I believe there was a setup just before CAD news broke, as depicted. I would have taken the trade given the trend bias, like you've mentioned. Would you? {image}

Yes, I would have totally taken this trade....
  • #1,187
  • Jun 20, 2014 10:31am Jun 20, 2014 10:31am
Quoting PipsiKoala
{quote} Good one, on that technical stop loss! And you've just hit first target, congrats Onwards with more pips!!! Cheers
Thanks PipsiKoala.
I think your USD/CAD would have been a valid set-up. I would have taken it if I had spotted it, except that I don't trade this pair. My spread-betting provider (IG Index) once widened the spread on a trade on this pair and stopped me out. I could find no justification for this (news, etc.).
  • #1,188
  • Jun 20, 2014 10:32am Jun 20, 2014 10:32am
Is the entry point 1 pip + spread above/below the established line? Thanks!
  • #1,189
  • Jun 21, 2014 2:24pm Jun 21, 2014 2:24pm
Hello, Y'all. Looking forward to being a part of this group.

Many thanks to RIFID for sharing his expertise and to everyone making comments in the thread!
  • #1,190
  • Jun 22, 2014 5:14am Jun 22, 2014 5:14am
hi paracelsus... from what i understand from the first post is the entry is the value of the spread plus .2 of a pip above or below the top or bottom level

quote..

ENTRIES:
Once you have found a suitable entry , set your Buy Stop at the top point plus your spread {max 1.5} plus .2 pip then . Your t/p is 5 pips above this.
Example Top of point is 138.32 + .9 spread +.2 = entry price of 139.42.
For sell we only ad .2 to point value.
Stop loss is set at same time as Buy/Sell order.
  • #1,191
  • Jun 22, 2014 5:24am Jun 22, 2014 5:24am
Quoting booker66
hi paracelsus... from what i understand from the first post is the entry is the value of the spread plus .2 of a pip above or below the top or bottom level quote.. ENTRIES: Once you have found a suitable entry , set your Buy Stop at the top point plus your spread {max 1.5} plus .2 pip then . Your t/p is 5 pips above this. Example Top of point is 138.32 + .9 spread +.2 = entry price of 139.42. For sell we only ad .2 to point value. Stop loss is set at same time as Buy/Sell order.
Thanks, Booker! Apparently I have overlooked this part in the description.
  • #1,192
  • Jun 22, 2014 6:06pm Jun 22, 2014 6:06pm
Quoting booker66
hi paracelsus... from what i understand from the first post is the entry is the value of the spread plus .2 of a pip above or below the top or bottom level quote.. ENTRIES: Once you have found a suitable entry , set your Buy Stop at the top point plus your spread {max 1.5} plus .2 pip then . Your t/p is 5 pips above this. Example Top of point is 138.32 + .9 spread +.2 = entry price of 139.42. For sell we only ad .2 to point value. Stop loss is set at same time as Buy/Sell order.
Just to clarify, the spread is only added to your entry if you are going long. If short, only add the 0.2. This is so you are only "paying" for the spread one way per trade.

Best,
EG
I'm a dog chasing cars.
  • #1,193
  • Jun 22, 2014 7:29pm Jun 22, 2014 7:29pm
Quoting ElectroGypsy
{quote} Just to clarify, the spread is only added to your entry if you are going long. If short, only add the 0.2. This is so you are only "paying" for the spread one way per trade. Best, EG
Quotes on MT4 are printed using the Bid price. So when you are Long, you have to add the spread with 2 points above the high price. You will actually be entering 2 points above the high price. If you did not add the spread when Long, you will in fact entering below the high price. For eg Price is 1.35000 + spread 10 +2 points. You place a buy stop at 1.35012.

When you are short, due to the bid price on chart, there is no need to add the spread. The spread will come in when you are exiting your short. Pay attention to your chart when the set your TP when Shorting. Price will have to actually pass the TP line including your spread. So placing a sell stop with low at 1.35000 will be 1.34998.

Cheers
  • #1,194
  • Jun 22, 2014 8:54pm Jun 22, 2014 8:54pm
Did anyone catch this explosion of pips...

I wasn't watching charts this early in the week.
Attached Image (click to enlarge)
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  • #1,195
  • Jun 23, 2014 6:29am Jun 23, 2014 6:29am
[quote]Amanfx

Did anyone catch this explosion of pips...

I wasn't watching charts this early in the week.[quote]



My sell stop was gapped over and tp was hit 1 second later for a 17 pip profit

  • #1,196
  • Jun 23, 2014 8:18am Jun 23, 2014 8:18am
Wow, this place is starting to feel like a ghost town Dearth of posts and trade discussions...
  • #1,197
  • Jun 23, 2014 8:25am Jun 23, 2014 8:25am
Quoting PipsiKoala
Wow, this place is starting to feel like a ghost town Dearth of posts and trade discussions...
Well, it is just the beginning of the week...
  • #1,198
  • Jun 23, 2014 9:36am Jun 23, 2014 9:36am
hi any views on this uj entry ... longerterm trend slightly up to sideways ..bounced off some support with pressure building ...
downside is lowertime frames have been trending down last couple of days ..

looks like its been taken out ..
Attached Image (click to enlarge)
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  • #1,199
  • Jun 23, 2014 10:08am Jun 23, 2014 10:08am
Anyone sold the Aussie? 20pips look do-able, all the way down to 94 round number
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB
  • #1,200
  • Jun 23, 2014 10:53am Jun 23, 2014 10:53am
thats a better shape than my ej trade ..i didnt see it but looks good almost to 94 ..well spotted
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