...if you trade a smaller time frame, you also need to take profit based on that time frame. This ensures consistency that targets are hit.
- #322
- Jan 28, 2015 4:49am Jan 28, 2015 4:49am
{quote} just an opinion, if you trade a smaller time frame, you also need to take profit based on that time frame. This ensures consistency that targets are hit.
It's pretty enough for me! 
You just got to have the Bad Days, so you can Love the Good Days even more!
Another BE on GU long.
A -20 pips loss on UCAD long. Okay this was not well selected on top of a swing already...
What I am doing is take a position using a 1:1 RR target based on the breakout and then trail it, where my initial SL is on the other side of the channel or sometimes the recent swing HI/LO. However this usually results in SL and TP 2x 2.5x times bigger than the channel itself.
3 out of my 4 trades today were in stable positive territory so maybe it's time to change the TP targets.
A -20 pips loss on UCAD long. Okay this was not well selected on top of a swing already...
What I am doing is take a position using a 1:1 RR target based on the breakout and then trail it, where my initial SL is on the other side of the channel or sometimes the recent swing HI/LO. However this usually results in SL and TP 2x 2.5x times bigger than the channel itself.
3 out of my 4 trades today were in stable positive territory so maybe it's time to change the TP targets.
- #329
- Jan 28, 2015 7:12am Jan 28, 2015 7:12am
This is an example of trades i don't take. It followed the entry rules, but the Risk Reward is very bad. Stop Loss is too High compared to TP {image}
:nerd:
You just got to have the Bad Days, so you can Love the Good Days even more!
- #332
- Jan 28, 2015 8:40am Jan 28, 2015 8:40am
{quote} I also take atleast 1:1 condition..But unfortunately, so hard to find them
Lower time frames can affect it because of spreads and slippages, unless you increase the TP, but will be harder to achieve without a retracement, usually results to BE
So i only look for H1 for day trading
Reaction is better than Prediction
- #334
- Jan 28, 2015 9:31am Jan 28, 2015 9:31am
A basic trend filter uses 200EMA and 100EMA. (Bullish if PA above 200 and 100, Bearish if below)
Mika, do you use this in 1hr chart or a higher TF to find a trend?
You just got to have the Bad Days, so you can Love the Good Days even more!
- #335
- Jan 28, 2015 10:44am Jan 28, 2015 10:44am
{quote} Mika, do you use this in 1hr chart or a higher TF to find a trend?
A simple trend filter is the 200 and 100 EMA
but i also trade counter trade.
Reaction is better than Prediction
- #336
- Jan 28, 2015 10:50am Jan 28, 2015 10:50am
{quote} Personally, i use only in H1 for day trading. A simple trend filter is the 200 and 100 EMA
Session closed..Have a Green Tomorrow guyz..! 
You just got to have the Bad Days, so you can Love the Good Days even more!
- #339
- Jan 28, 2015 11:37am Jan 28, 2015 11:37am
{quote} No trades today for me. Just watching on the sidelines. Tomorrow the same, friday not good for trading. Early weekend for me
Reaction is better than Prediction
BO channel wide TPs this time.
NU long -16 pip loss.
EJ +16 pip win.
EU +12 pip win.
AU -16 and -19 loss.
Yeah, as FOMC is closing in more ranging.
Today I realized I was trying to swingtrade this BO system/indicator, which is twisting the system around. So I'll change.
See you next time!
NU long -16 pip loss.
EJ +16 pip win.
EU +12 pip win.
AU -16 and -19 loss.
Yeah, as FOMC is closing in more ranging.
Today I realized I was trying to swingtrade this BO system/indicator, which is twisting the system around. So I'll change.
See you next time!