Disliked{quote} Like this strategy. But this strategy needs a lot of observation and experience. Sometimes won't work when market is going sideways.Ignored
always draw trendlines
TK.....5 I have been trading fx for about 10 years and enjoy it. I have become OLD and not able to play golf every day like I used to;;so this is my joy;;;I have seen many thread starters leave even with a great system like this one because so many dumb ASSES ask such DUMB ? things PLEASE DONT GET TO0 DISCOURGED. BY THIS as they are 100s of them on ff ever day. I enjoy your posts. I am a grinder AND MAKE PIPS ALMOST DAYs I have NEVER lost EXCEPT with stop loss is hit. so don't use sl only watch the trade and if the inducators change I get out. I...
always draw trendlines
- #984
- Nov 23, 2014 10:23am Nov 23, 2014 10:23am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
Morning all
As good as this thread is, it has been lacking charts and trade examples. I now find myself with a bit more time in front of my platform, so can post few trades. I use the basic principles set out by TK5 and whilst I hesitate to say it, given I often criticise those who tamper with an OP's method, I prefer standard jap candles to HA. HA does seem to work well for this strategy I just think that HA can cause a trade to be taken at the top of an extended candle that common sense would normally keep you away from.
In terms of entry filters, my preferred entry is to take the first PA signal crossing the 5 and in the direction away from the 200. If that first PA signal is on or very close to the start of a session (only London & NY for me) I'll set Tp at 10pips, but if part way through a session, or PA is good enough for me to consider counter-trend, I'll set it at 5.
So far today, 3 wins one loss. The E/U loss was a foolish mistake, ignoring my own rule, by taking a trade towards the 200. If you look at the zoomed out chart, it is also clear that I was buying into some recent S/R.
20 pips to the good for the morning is fine by me, I'll see what NYO brings, but would settle for 20 for the day.
As good as this thread is, it has been lacking charts and trade examples. I now find myself with a bit more time in front of my platform, so can post few trades. I use the basic principles set out by TK5 and whilst I hesitate to say it, given I often criticise those who tamper with an OP's method, I prefer standard jap candles to HA. HA does seem to work well for this strategy I just think that HA can cause a trade to be taken at the top of an extended candle that common sense would normally keep you away from.
In terms of entry filters, my preferred entry is to take the first PA signal crossing the 5 and in the direction away from the 200. If that first PA signal is on or very close to the start of a session (only London & NY for me) I'll set Tp at 10pips, but if part way through a session, or PA is good enough for me to consider counter-trend, I'll set it at 5.
So far today, 3 wins one loss. The E/U loss was a foolish mistake, ignoring my own rule, by taking a trade towards the 200. If you look at the zoomed out chart, it is also clear that I was buying into some recent S/R.
20 pips to the good for the morning is fine by me, I'll see what NYO brings, but would settle for 20 for the day.
Getting there, slowly but surely...
- #1,000
- Edited 12:48pm Nov 24, 2014 5:54am | Edited 12:48pm
OH BOY THIS IS 1000th POST..what a coincidence 
I posted recently about Re-entering thing
it seems its happening to GBPUSD. It is getting over ema200 and also Pivot. I can be start of short trend.
so watch for it.
http://img.ie/images/i9f8n.jpg
I posted recently about Re-entering thing
it seems its happening to GBPUSD. It is getting over ema200 and also Pivot. I can be start of short trend.
so watch for it.
http://img.ie/images/i9f8n.jpg
always draw trendlines