{quote} Now I got a closing position of yesterday entry. A +40 pips trade. {image}
Hi bmgsoares ,
Your trade is ok! You got in at the right place as well as your profit target , that was a good plan. Nice profit there!
Yvon
4 Hour Strategy (MACD)
- #28,221
- Aug 19, 2014 6:59am Aug 19, 2014 6:59am
Hi bmgsoares ,
Your trade is ok! You got in at the right place as well as your profit target , that was a good plan. Nice profit there!
- #28,223
- Aug 19, 2014 7:38am Aug 19, 2014 7:38am
Last week was a difficult week to trade. Lost pips and trades UNEXPECTEDLY. I thought I have done my analysis before trading. I took trades that were moving away from 21ema supposedly the high probability trades but they went against my analysis, that's why I say Unexpectedly. Did any of you expert here foresee the volatility of the market before it went volatile? Is there a way to tell this is coming? Would appreciate if some of you experienced traders here can help me with this. Thank you. Desperately searching for answers, Nicholas
I am no expert!
Volatility comes from events , from sudden political situations sometime, which is the case with frictions between countries as example: Russia /Ukraine.
Yvon
- #28,224
- Aug 19, 2014 7:45am Aug 19, 2014 7:45am
{quote} I got a close position from the yesterday entry: + 32.8 pips. {image}
hi, you are doing very well! yes, as per the rules you can take a counter trade and be a winner!---I still have difficulties in taking those CT!
Yvon
- #28,225
- Aug 19, 2014 7:58am Aug 19, 2014 7:58am
I had a lot of distractions lately and I have still some dots to fill!
But let’s say I got short again in GBPUSD (about 56 pips going my way)---25 pips secured
EURUSD: some 38 pips---15 pips secured
NZDUSD; some 17 pips ---free ride
But let’s say I got short again in GBPUSD (about 56 pips going my way)---25 pips secured
EURUSD: some 38 pips---15 pips secured
NZDUSD; some 17 pips ---free ride
Yvon
- #28,226
- Aug 19, 2014 8:03am Aug 19, 2014 8:03am
Hi,
I didn’t post lately since a comment from one of you got my attention. It made me stop and think again on all the trades I was in. And I looked at them again and again they were at the right places. I planned those trades and I trade those plans.
But again, some Stop Lost got hit (my weakness!) But I just got back in; I just decided of instead of getting out of trades, close the book for the week, I just added positions on those trades even if I had lost already 112 pips on NZDUSD! On some pairs I doubled the lots, on other I tripled the lots more than usually, and some stayed the same. That was a very good decision. I was impatient while the pair made a little detour (where some trades got hit). Now the losses are very well covered and all trades are in good positions.
edit::: ...and just getting better!
I didn’t post lately since a comment from one of you got my attention. It made me stop and think again on all the trades I was in. And I looked at them again and again they were at the right places. I planned those trades and I trade those plans.
But again, some Stop Lost got hit (my weakness!) But I just got back in; I just decided of instead of getting out of trades, close the book for the week, I just added positions on those trades even if I had lost already 112 pips on NZDUSD! On some pairs I doubled the lots, on other I tripled the lots more than usually, and some stayed the same. That was a very good decision. I was impatient while the pair made a little detour (where some trades got hit). Now the losses are very well covered and all trades are in good positions.
edit::: ...and just getting better!
Yvon
- #28,228
- Aug 19, 2014 8:39am Aug 19, 2014 8:39am
{quote} No problem Nic I hope it helps you to time you entries better like it does with me. You should see it pop up more and more
Your quote: "But we know in the 4h chart it has pulled back to the 21ema and so now, as per rules, is likely to head down from here. Meaning anyone buying at that point, even though the short term 30min trend is up (even at its peak), is actually going counter trend."
Since in H4 price has pulled back to 21ema and is heading down, this is a trade that could be taken. And the probability of price going down is high because it is moving away from 21ema? Should the 30m TF counter trend be a concern? Because we are trading using H4 TF and price is moving away from 21ema after a pull back to it from the top.
- #28,230
- Aug 19, 2014 8:58am Aug 19, 2014 8:58am
{quote} Not sure if I have understood you correctly, did you mean that this is a risky trade even at
d? Your quote: "But we know in the 4h chart it has pulled back to the 21ema and so now, as per rules, is likely to head down from here. Meaning anyone buying at that point, even though the short term 30min trend is up (even at its peak), is actually going counter trend." Since in H4 price has pulled back to 21ema and is heading down, this is a trade that could be taken. And the probability of price going down is high because it is moving away from...
But what I meant was if you looked at the 30 min chart without looking at the 4h chart it would look like a crazy trade as you are selling when the 30min chart is trending upwards. But we know here it is just a pullback on a bigger chart
If you look at my previous post to Binnie I told him i was waiting for it to pullback to the 50% mark before I entered long to get the breakout. It worked out just as I thought it would but after laying it out on here in a post I MISSED the entry
So I was hoping maybe Binnie or someone else nailed it as they would be close to around 70-100 pips up if they had.
Sometimes I think I analyse too many pairs and it's easy to then forget some of the better set ups, like I did with the Aus/Nzd
- #28,231
- Aug 19, 2014 9:04am Aug 19, 2014 9:04am
I had a lot of distractions lately and I have still some dots to fill! But let’s say I got short again in GBPUSD (about 56 pips going my way)---25 pips secured EURUSD: some 38 pips---15 pips secured NZDUSD; some 17 pips ---free ride
1. I traded EURUSD. Was making about 12 pips and I set SL to BE, being cautious that GBP Red news ahead. But of course it retraced and stopped me out and I never had the guts to re-enter.
2. Please share how you entered GBPUSD . I thought it was going downwards, which it did but again I did not pull the trigger not knowing if this was for sure. Besides I have a 1.67026 as a temporary resistance close by the entry.
3. NZDUSD, I did not trade either. Why? Because at the point where price was moving away from 21ema, all 3 moving averages (21,8 and 89) were together. And I remember Nel saying if the MAs are close together, this could indicate volatility.
I have missed many trade like the above. Not know how to enter and all I could do is sit and watch. I know there must be a way to trade such as the above, But only if I know how and that they can be traded.
Thanks.
- #28,232
- Edited Aug 20, 2014 6:08am Aug 19, 2014 9:34am | Edited Aug 20, 2014 6:08am
{quote} Were these trades taken today? 1. I traded EURUSD. Was making about 12 pips and I set SL to BE, being cautious that GBP Red news ahead. But of course it retraced and stopped me out and I never had the guts to re-enter. 2. Please share how you entered GBPUSD . I thought it was going downwards, which it did but again I did not pull the trigger not knowing if this was for sure. Besides I have a 1.67026 as a temporary resistance close by the entry. 3. NZDUSD, I did not trade either. Why? Because at the point where price was moving away from...
"2. Please share how you entered GBPUSD . I thought it was going downwards, which it did but again I did not pull the trigger not knowing if this was for sure. Besides I have a 1.67026 as a temporary resistance close by the entry."
A bit soon, but was expecting the pull back earlier than when it happened, sometime I am too quick on the trigger
GBPUSD : trade closed 75 pips ,SL hit.
Yvon
- #28,233
- Aug 19, 2014 9:50am Aug 19, 2014 9:50am
{quote} Hi Nic, "2. Please share how you entered GBPUSD . I thought it was going downwards, which it did but again I did not pull the trigger not knowing if this was for sure. Besides I have a 1.67026 as a temporary resistance close by the entry." A bit soon, but was expecting the pull back earlier than when it happened, sometime I am too quick on the trigger
You saw the "Temporary R&S" in the chart? and the Red news that was coming. Should I be bothered by them? I am particularly asking this because many a times I was bothered by them and ended up missing the train. How should I handle temporary TL / resistance etc. that are on the way of a trade?
- #28,234
- Aug 19, 2014 9:50am Aug 19, 2014 9:50am
{quote} Hi Nic, "2. Please share how you entered GBPUSD . I thought it was going downwards, which it did but again I did not pull the trigger not knowing if this was for sure. Besides I have a 1.67026 as a temporary resistance close by the entry." A bit soon, but was expecting the pull back earlier than when it happened, sometime I am too quick on the trigger
If you check some of my earlier posts to Binnie and Nic I explained to them how I personally filter those trades to stop myself entering too early. That trade happened to me SO many times until I started looking closer at the pullback to the 21ema in 4hs in a lower time frame. Checking the pullback has made the right amount of waves back helped me a lot, it may be something you can find useful as well
I know Phil Nel doesn't enter using 4hs as he always says he uses smaller time frames.
If you see below in the 30 mins I got entry at the top by checking the waves. But make no mistake, it still follows the 4h mach rules. It's all the same thing.
It helped me out a lot anyway but everyone has their own way of doing things
- #28,235
- Edited Aug 20, 2014 6:05am Aug 19, 2014 9:52am | Edited Aug 20, 2014 6:05am
Nic,
About the EURUSD: I got in after convincing tails (yellow circles) again I was expecting a move down but it came later. When I saw a return at the original entry price, I sold it again
EURUSD: about 65 pips secured
About the EURUSD: I got in after convincing tails (yellow circles) again I was expecting a move down but it came later. When I saw a return at the original entry price, I sold it again
EURUSD: about 65 pips secured
Yvon
- #28,236
- Aug 19, 2014 9:55am Aug 19, 2014 9:55am
{quote} Hi bmgsoares , Your trade is ok! You got in at the right place as well as your profit target , that was a good plan. Nice profit there!
- I am trading with lots of pairs simultaneously. I believe I can dilute the risk of wrong entries;
- I used on the couple of week 0.03pips/$100. I think I decrese to 0.01/$100 by now;
See below some results I got by now... (demo account):
Tks Phillip and everyone here. Great system:
- #28,237
- Edited Aug 20, 2014 6:04am Aug 19, 2014 10:05am | Edited Aug 20, 2014 6:04am
NIC,
NZDUSD: It is nice entry on the 4hrs chart, but just look at the daily, just for the kik of it:
NZDUSD : trade closed, about 65 pips, SL hit but back in and closed.
NZDUSD: It is nice entry on the 4hrs chart, but just look at the daily, just for the kik of it:
NZDUSD : trade closed, about 65 pips, SL hit but back in and closed.
Yvon
- #28,238
- Aug 19, 2014 10:07am Aug 19, 2014 10:07am
Nic, About the EURUSD: I got in after convincing tails (yellow circles) again I was expecting a move down but it came later. When I saw a return at the original entry price, I sold it again
On your 2nd trade, you entered in the middle of a candle when it is still forming and after it went through the TL. Was there a pull back on a shorter TF. And you were sure that it was going to go further just because it was moving away from 21ema?
- #28,239
- Aug 19, 2014 10:10am Aug 19, 2014 10:10am
NIC, NZDUSD: It is nice entry on the 4hrs chart, but just look at the daily, just for the kik of it:
(from earlier post) NZDUSD, I did not trade either. Why? Because at the point where price was moving away from 21ema, all 3 moving averages (21,8 and 89) were together. And I remember Nel saying if the MAs are close together, this could indicate volatility. Is this correct and should this largely be a concern?
- #28,240
- Aug 19, 2014 10:21am Aug 19, 2014 10:21am
{quote} Ok, and can you help me to clear the air on this, please. (from earlier post) NZDUSD, I did not trade either. Why? Because at the point where price was moving away from 21ema, all 3 moving averages (21,8 and 89) were together. And I remember Nel saying if the MAs are close together, this could indicate volatility. Is this correct and should this largely be a concern?
The reason is for the “volatility” because people trade on those mas. Some used the 21 ema or 20 ema or around theses ema as well as many people trade based on the 89, or 100 , even 50 or else. ---many traffic lights there, some are buying and some are selling. So if those moving averages get closer or in the same area this is dynomite! The moves seem amplified there!there are more people trading in the same area, but for different reasons.!
Yvon