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my system of 20 pips

  • #281
  • Sep 25, 2014 10:10pm Sep 25, 2014 10:10pm
Hi Cat

If in the past you had a large 'down' candle going all the way through your 20 pip levels (say level 40 and 60), when the price retraces and come back to this level would you only 'sell' (wait for price to go up and hit 40 and sell back to 60) or would you also buy on the retrace (buy when price retraces to 60 with tp at 40).
  • #282
  • Sep 25, 2014 10:12pm Sep 25, 2014 10:12pm
Quoting Blackeagle
{quote} But when you refer to history and if it is repeating, why buy today? Yesterday's move which you base your today's buy decision was from 138.800 to 138.600 (down). So if history is repeating, why don't we expect the same thing today and try to sell from 138.800 to 138.600? You are doing exactly the opposite of history!!! Regards, Blackeagle
i really like people who are keen to learn and question everything. it show the willingness to approve one self. keep it up

for your question, the history here is not what position i open previously. it's the reaction of price between those two level.
  • #283
  • Sep 25, 2014 10:15pm Sep 25, 2014 10:15pm
Quoting catextract89
{quote}... will buy at D because of C
Then why not buy at E or F and wait until D?

Regards,
Blackeagle
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 57 KB
  • #284
  • Sep 25, 2014 10:22pm Sep 25, 2014 10:22pm
Quoting kraven
Hi Cat If in the past you had a large 'down' candle going all the way through your 20 pip levels (say level 40 and 60), when the price retraces and come back to this level would you only 'sell' (wait for price to go up and hit 40 and sell back to 60) or would you also buy on the retrace (buy when price retraces to 60 with tp at 40).
so sorry i have to do this. i cannot post chart

-------------------- xxx.60

-------------------- xxx.40

let say the price come from the top and break through .60 and .40 level, later price come from below, i would buy at xxx.40 and tp at xxx.60

after the big candle through, i would not trade the next candle even though it touch back the xxx.40 line. how long to wait? this is experience. i can only share my way of entering the market.
  • #285
  • Sep 25, 2014 10:47pm Sep 25, 2014 10:47pm
Quoting Blackeagle
{quote} Then why not buy at E or F and wait until D? Regards, Blackeagle {image}
thanks for the healthy discussion. this will be very helpful to the others.

the reason behind this is, refer to the zone below A see how price test the xxx.000 level few time before finally breakout at B?

it's the same reason again. after the big red candle at C, the market tested the xxx.000 line few time and finally break at D

i might has been enter at F but decided to wait. maybe i'm lucky
  • #286
  • Sep 25, 2014 11:09pm Sep 25, 2014 11:09pm
Quoting catextract89
{quote} ...finally break at D i might has been enter at F but decided to wait. maybe i'm lucky
Meaning your entries are discretionary. Because if you'd entered either at E and/or F you would have been stopped in both cases.

Please have a look at the attached chart. A couple of days ago, at post#138, you showed us you took the trade B. But you could have taken
the trade at A (and got stopped out) as I see no difference between A and B. Considering that you are using discretion when entering a trade,
I don't think that I could identify your entry/trigger exactly or objectively. I can understand why you are choosing a particular level, but choosing
when to write your stop entry order is subjective, IMO.

Regards,
Blackeagle
Attached Image (click to enlarge)
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  • #287
  • Sep 25, 2014 11:31pm Sep 25, 2014 11:31pm
Quoting Blackeagle
{quote} Meaning your entries are discretionary. Because if you'd entered either at E and/or F you would have been stopped in both cases. Please have a look at the attached chart. A couple of days ago, at post#138, you showed us you took the trade B. But you could have taken the trade at A (and got stopped out) as I see no difference between A and B. Considering that you are using discretion when entering a trade, I don't think that I could identify your entry/trigger exactly or objectively. I can understand why you are choosing a particular level,...
yes your opinion is correct. i use my experience in forex as somehow to filtered the trade.

but the entry will be the same rule every time.
since most of the trader here figured out the entry thing,
that is how i enter the market with consistency level. i only trade at .20 level. and look to the left to predict what the market will do at the current level. will it pierce through? will it not?

if yes, i put my pending order there. if it TP, good. if it SL. i manage my trade to make sure i always endup with positive balance.
  • #288
  • Sep 25, 2014 11:33pm Sep 25, 2014 11:33pm
guys i reached my PM limit for today. will do as soon as the limit is lifted.

thanks so much for the participation.
  • #289
  • Sep 25, 2014 11:53pm Sep 25, 2014 11:53pm
Quoting catextract89
{quote} ... i manage my trade to make sure i always endup with positive balance.
This is another story which hasn't been discussed yet. If you are ALWAYS finishing a trading day with a positive balance with a method you kindly explained us but using a discretionary entry (or predicting which bar to enter), all I can say is I respect you. Because if you use 100% mechanical method for entries as you use for SL and TP, I can measure the performance of your method. But in this case, when discretion is involved, every trade is open to discussion.

Anyway, I really appreciate your time for answering my questions.
Thanks,

Regards,
Blackeagle
  • #290
  • Sep 26, 2014 12:36am Sep 26, 2014 12:36am
Quoting catextract89
{quote} i think the post 128 is a reply by artem_t. is this the correct one? at post 236, i have a sell position first, then buy. first trade, sell at 1.2760 and TP 1.2740 later that day, i buy at 1.2740 and TP 1.2760
Thank you sir for sharing.
  • #291
  • Sep 26, 2014 1:26am Sep 26, 2014 1:26am
Hi guys,

Trying this strategi for 1st time, take long on EJ 139.00.
I'm still not sure with this position, see where it'll go.
Is there any comment?? Need your advice guys..
Thanks..
Attached Image (click to enlarge)
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  • #292
  • Sep 26, 2014 1:29am Sep 26, 2014 1:29am
Quoting Blackeagle
{quote} This is another story which hasn't been discussed yet. If you are ALWAYS finishing a trading day with a positive balance with a method you kindly explained us but using a discretionary entry (or predicting which bar to enter), all I can say is I respect you. Because if you use 100% mechanical method for entries as you use for SL and TP, I can measure the performance of your method. But in this case, when discretion is involved, every trade is open to discussion. Anyway, I really appreciate your time for answering my questions. Thanks, Regards,...
thank to you for having such a lively discussion. i really appreciate it.

about the positive balance at the end of trading day. this is what will be discuss now.
since almost every trader know how i enter the market, now i will begin how to manage the losing trade.
  • #293
  • Sep 26, 2014 1:30am Sep 26, 2014 1:30am
any of you guys have this feeling to sell at 138.800? (sorry wrong pair)
sell at 1.27400 for EU?
  • #294
  • Sep 26, 2014 1:41am Sep 26, 2014 1:41am
Quoting catextract89
{quote} yes this level are correct
OK now!!! Thank you Cat, I think I have it... The rest via PM... as I agree with you that the main point in this thread is to "educate" ourselves to look "behind".

Thanks again for your patience.

Regards
Panos

P.S: I also went short at EU 1.27400..
  • #295
  • Sep 26, 2014 1:42am Sep 26, 2014 1:42am
LIVE EU short
Attached Image (click to enlarge)
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  • #296
  • Sep 26, 2014 1:45am Sep 26, 2014 1:45am
Quoting panosmgr
{quote} OK now!!! Thank you Cat, I think I have it... The rest via PM... as I agree with you that the main point in this thread is to "educate" ourselves to look "behind". Thanks again for your patience. Regards Panos P.S: I also went short at EU 1.27400..
good job. now wait for it. TP or SL? let the market decide.
  • #297
  • Sep 26, 2014 1:46am Sep 26, 2014 1:46am
Quoting FXAction
LIVE EU short {image}
dude why your graph is full of yellow line? did you draw them manually? or you use indicator?

goodjob on the entry!
  • #298
  • Sep 26, 2014 1:50am Sep 26, 2014 1:50am
Quoting catextract89
{quote} dude why your graph is full of yellow line? did you draw them manually? or you use indicator? goodjob on the entry!
Sweetsport indicator with sublevel set at 1oo. Thanks Cate.
  • #299
  • Sep 26, 2014 1:54am Sep 26, 2014 1:54am
Cate,

next EJ entry... 139.200 TP 139.400??
  • #300
  • Sep 26, 2014 1:56am Sep 26, 2014 1:56am
Quoting Jeg
{quote} I think it is more related to the 20 levels and how strong the moves are when they are being crossed, that would justify buying and selling at the same place. We will have to wait for some more confirmation... May be?
(U are right).

Artem
Let's go with the flow
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