Anyone tracking this pair?
Fall seven times, stand up Eight! #GGMU
- #30,045
- Mar 19, 2015 12:05am Mar 19, 2015 12:05am
dear bigwal first of all thanks for all the effort that you have done in this thread. im more on going through your posts and try to understand the point.
1. can you more explain how you determine entry on your trades and sl, tp etc. (if u can give more explanation on those on future screenshots that would be real help if that doesnot bother you)
2. wt kind of risk reward ratio you maintained. do you use trailing stops to lock the profit?
3. do you always use 5min chart to place actual trades?
4. wt higher timeframe u use to see the bigger picture and how
currently i only analyse EURUSD to understand the things here. i seems like a slow leaner but i wont give up. i feel that wt u share here is a gold nugget.
thanks again for your contribution to the traders like me.
1. can you more explain how you determine entry on your trades and sl, tp etc. (if u can give more explanation on those on future screenshots that would be real help if that doesnot bother you)
2. wt kind of risk reward ratio you maintained. do you use trailing stops to lock the profit?
3. do you always use 5min chart to place actual trades?
4. wt higher timeframe u use to see the bigger picture and how
currently i only analyse EURUSD to understand the things here. i seems like a slow leaner but i wont give up. i feel that wt u share here is a gold nugget.
thanks again for your contribution to the traders like me.
- #30,054
- Mar 19, 2015 3:10pm Mar 19, 2015 3:10pm
{quote} I am long AUD NZD 1.03070 st 1.02798. i have posted charts here about it in recent days and it has played out exactly so far. Nothing more to explain! Warren
- #30,055
- Mar 19, 2015 3:35pm Mar 19, 2015 3:35pm
dear bigwal first of all thanks for all the effort that you have done in this thread.
Thank the thread author, i am just sharing what i have learned
im more on going through your posts and try to understand the point.
1. can you more explain how you determine entry on your trades and sl, tp etc. (if u can give more explanation on those on future screenshots that would be real help if that doesnot bother you)
The market is fluid, there are no fixed rules as such. i have a multiple tf on my screen, from that i can see where important decisions are and where price is being driven
to for session starts and news time. I watch order flow on the 5 min chart . When large orders are entering the market you will see on 5 min chart, it is very visual.
stop is placed behind the pull back of engulf & tp is the extreme swing opposite. Watch price at this extreme, if it engulfs south or the travel is compressed, i am out. if it creates pockets of demand (structured pa) this can hold and push through. Every trade is different be mindful of what you see.
2. wt kind of risk reward ratio you maintained. do you use trailing stops to lock the profit?
I risk 1% per trade. the reward differs, i take what the market is prepared to give 4:1 or 50:1. Trailing stops are for someone that is unsure, never used trailing stops.
3. do you always use 5min chart to place actual trades?
YES
4. wt higher timeframe u use to see the bigger picture and how currently
i use 5, 15 min, 1 hr & 4hr of each pair i am looking at with alarms for areas of interest.
i only analyse EURUSD to understand the things here. i seems like a slow leaner but i wont give up. i feel that wt u share here is a gold nugget. thanks again for your contribution to the traders like me.
Warren
I need to finish something i started
- #30,056
- Mar 19, 2015 3:43pm Mar 19, 2015 3:43pm
hi Bigwal is maybe that engulf candle (6 m15bars ago) one of the reason that make you Buy Audnzd? I see there is a desicion to go down that was quickly reacted by buyers, making an bullish engulf pattern. sorry i totally misunderstand
- #30,057
- Mar 19, 2015 3:48pm Mar 19, 2015 3:48pm
{quote} yes you have a lot to explain but you dont want to
http://www.forexfactory.com/showthre...92#post8150492
This is all in line with what i have said here on PIE. Not holding any secret method back
The chart marked up with key areas is enough, what else can i add?. You have my entry, possible exit and my stop. The red line dictates route of travel.
Warren
I need to finish something i started