Disliked{quote} Hi, This is not a H1 trade. This is a 4H swing trading with ME/ME strategy. Read post#58,123 regards,Ignored
- #58,226
- Jun 23, 2015 11:17am Jun 23, 2015 11:17am
GBPAUD H1 +135 (+25 +50 +60)
Entered after price broke below local S/R. CM managed trade with 50% taken @ TP1, 25% taken @ TP2 and the rest left to run with TP3 set just above the 200ema. Closed final position manually as price was caught on YL and the driver (AUSUSD) had started to reverse.
Entered after price broke below local S/R. CM managed trade with 50% taken @ TP1, 25% taken @ TP2 and the rest left to run with TP3 set just above the 200ema. Closed final position manually as price was caught on YL and the driver (AUSUSD) had started to reverse.
Never argue with a fool; onlookers may not be able to tell the difference.
{quote} Thanks mate! This is the most solid and safest strategy i've used. I've tried a lot of strategies in the past but they aren't as easily profitable as this one! Btw, are you all still using the Stoch 8, 3, 3 on your charts? Or just the new TDI now?
Someone may have answered this already but no, we aren't using the stoch.
- #58,232
- Edited Jun 24, 2015 5:10am Jun 23, 2015 3:13pm | Edited Jun 24, 2015 5:10am
- Joined Sep 2011 | Status: Trader | 1,252 Posts
- #58,233
- Jun 23, 2015 4:46pm Jun 23, 2015 4:46pm
{quote} Hi LT, I wanted to take this trade but was not confident enough because by the time H1 candle closed price has retraced. Did you enter after the H1 candle closed or did you look at the lower time frame for an entry? Rabhni
I actually entered before the H1 APB closed but actually entered on the close of the M5 APB once price had broken below the local H1 S/R. I also knew there was going to be good momentum as AUDUSD had broken north so would push GBPAUD down. AUDUSD had been driving GBPAUD all day.
It is always worth checking M15 if you see an H1 trade running but price seems to slow. Look at EA, EU and EJ around LO on the M15 and there was entries on all three.
You did right by TMS H1 trading rules by not entering the trade at the close of the H1 APB as this would have been 'chasing the big candle' which can end in tears.
Stick to the basic entry rules, don't over complicate things and just aim for 20 - 30 pips a trade and you'll soon gain your confidence.
Hope this helps
Never argue with a fool; onlookers may not be able to tell the difference.
- #58,235
- Jun 23, 2015 9:14pm Jun 23, 2015 9:14pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #58,236
- Jun 23, 2015 9:18pm Jun 23, 2015 9:18pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #58,237
- Jun 23, 2015 9:23pm Jun 23, 2015 9:23pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #58,239
- Jun 24, 2015 12:25am Jun 24, 2015 12:25am
{quote} Hi Rabhni, I actually entered before the H1 APB closed but actually entered on the close of the M5 APB once price had broken below the local H1 S/R. I also knew there was going to be good momentum as AUDUSD had broken north so would push GBPAUD down. AUDUSD had been driving GBPAUD all day. It is always worth checking M15 if you see an H1 trade running but price seems to slow. Look at EA, EU and EJ around LO on the M15 and there was entries on all three.
Thank you LT. Can you please look at my post# 58225 and give me your comments as I lost both trades?