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Mika's Breakout strategy

  • #341
  • Jan 28, 2015 7:16pm Jan 28, 2015 7:16pm
Quoting happytrade38
{quote} Too late to see this post... have enter AUDNZD(H4) with not a good Risk Reward.. Will move to BE after +30p.. cheers.. {image}
SL -87
  • #342
  • Jan 28, 2015 7:19pm Jan 28, 2015 7:19pm
2 new trades today @ H4: GBPAUD and EURCAD.. cheers...
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  • #343
  • Jan 29, 2015 12:28am Jan 29, 2015 12:28am
3rd trade for today: AUDJPY - green pip now
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  • #344
  • Jan 29, 2015 12:30am Jan 29, 2015 12:30am
Quoting happytrade38
2 new trades today @ H4: GBPAUD and EURCAD.. cheers... {image}
Good starting for today with GBPAUD TP +78
EURCAD still in progress
  • #345
  • Jan 29, 2015 1:20am Jan 29, 2015 1:20am
Quoting happytrade38
{quote} Good starting for today with GBPAUD TP +78 EURCAD still in progress
Cheersss! Have a great day! 45Mints for London Session Open!
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #346
  • Jan 29, 2015 2:05am Jan 29, 2015 2:05am
london time lets see some setups
Reaction is better than Prediction
  • #347
  • Jan 29, 2015 3:04am Jan 29, 2015 3:04am
setup on GU
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Reaction is better than Prediction
  • #348
  • Jan 29, 2015 3:06am Jan 29, 2015 3:06am
AUDJPY 66%
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  • #349
  • Jan 29, 2015 3:06am Jan 29, 2015 3:06am
Setup in AJ

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Reaction is better than Prediction
  • #350
  • Jan 29, 2015 3:38am Jan 29, 2015 3:38am
Quoting mikajap
Setup in AJ {image}

Hi Mika,
The bar is so huge and far away from BO, thought the R:R is bad. what's your TP for this setup? thanks.
  • #351
  • Jan 29, 2015 3:43am Jan 29, 2015 3:43am
Another setup at 1pm (GMT+8) for AUDJPY. Already TP +50. Cheers for more pip
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  • #352
  • Jan 29, 2015 3:45am Jan 29, 2015 3:45am
Hello People,
Targeting the BO channel width.

NU closed @ BE. Initial Risk/Reward 30/16 pips.
Attached Image (click to enlarge)
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AU closed @ BE. Initial Risk/Reward 20/12 pips. Would have made a winner.
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GOLD TP. Initial Risk/Reward 300/127 pips.
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  • #353
  • Jan 29, 2015 3:50am Jan 29, 2015 3:50am
Quoting Carpathian
Hello People, Targeting the BO channel width. NU closed @ BE. Initial Risk/Reward 30/16 pips. {image} AU closed @ BE. Initial Risk/Reward 20/12 pips. Would have made a winner. {image} GOLD TP. Initial Risk/Reward 300/127 pips. {image}

Hi Carpathian,
Mind to share the spread for both NU and AU? As I saw the channel height is about 12p, would you set your TP channel height + spread? Cheers..
  • #354
  • Jan 29, 2015 4:06am Jan 29, 2015 4:06am
Quoting mikajap
setup on GU {image}
Hit my SL
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #355
  • Jan 29, 2015 4:14am Jan 29, 2015 4:14am
Quoting happytrade38
{quote} Hi Carpathian, Mind to share the spread for both NU and AU? As I saw the channel height is about 12p, would you set your TP channel height + spread? Cheers..
Hello Happy,
In the upper-right black box after the 'S' letter an indi is showing actual spread in points. NU was 13 and AU 16 (1.3 and 1.6 pips respectively).
I set TP = channel height. Whatever TP or SL you set that implicitly includes spread as in case of a SHORT trade price has to go as low so that ASK reaches the TP level and in case of LONG the position opens 'one spread higher' than BID and I set TP measured from there.
  • #356
  • Jan 29, 2015 4:27am Jan 29, 2015 4:27am
Quoting Carpathian
{quote} Hello Happy, In the upper-right black box after the 'S' letter an indi is showing actual spread in points. NU was 13 and AU 16 (1.3 and 1.6 pips respectively). I set TP = channel height. Whatever TP or SL you set that implicitly includes spread as in case of a SHORT trade price has to go as low so that ASK reaches the TP level and in case of LONG the position opens 'one spread higher' than BID and I set TP measured from there.
Hi carpathian, you are right and i am not realized about that. When would you move the SL to BE as I saw some of the setup went BE. Thanks.
  • #357
  • Jan 29, 2015 4:50am Jan 29, 2015 4:50am
Quoting happytrade38
{quote} Good starting for today with GBPAUD TP +78 EURCAD still in progress
EuRCAD +20
  • #358
  • Jan 29, 2015 4:53am Jan 29, 2015 4:53am
Quoting happytrade38
{quote} Hi carpathian, you are right and i am not realized about that. When would you move the SL to BE as I saw some of the setup went BE. Thanks.
Try 'F8/common/show ask line' that will help visualize the spread issue at any time.
Well I move to BE when price action does not seem to confirm reaching the TP in a timely manner. Sometimes it is a good decision sometimes not.
  • #359
  • Jan 29, 2015 5:02am Jan 29, 2015 5:02am
Quoting happytrade38
{quote} Hi Mika, The bar is so huge and far away from BO, thought the R:R is bad. what's your TP for this setup? thanks.
Hi, The RR is not that bad, 50pips stop and 30pip TP is acceptable for me. i also see the PA is very bearish and its a trend type setup so i will go for it.
If its counter trend, maybe i wont.
Reaction is better than Prediction
  • #360
  • Jan 29, 2015 5:25am Jan 29, 2015 5:25am
M30 UCAD long TP=channel, Risk/R 20/15 pips. +15 pips win.
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