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Trade with 60

  • #81
  • Sep 2, 2015 3:53am Sep 2, 2015 3:53am
Hi 60minuteman,

Please see the attached G/U chart. I used a session indicator from searching this site, I prefer the one you use.

It might look wrong but I do have the Asian session set from midnight to 8am GMT, the demo platform I am using is 2 hours ahead.

The last candle to close (the big red one) made a new low, the present candle is green, if it closes green would that be the time to go long? How do you set your S/L?
Attached Image (click to enlarge)
Click to Enlarge Name: 60MGUH1.png Size: 28 KB
  • #82
  • Sep 2, 2015 4:04am Sep 2, 2015 4:04am
Quoting normtold
Hi 60minuteman, Please see the attached G/U chart. I used a session indicator from searching this site, I prefer the one you use. It might look wrong but I do have the Asian session set from midnight to 8am GMT, the demo platform I am using is 2 hours ahead. The last candle to close (the big red one) made a new low, the present candle is green, if it closes green would that be the time to go long? How do you set your S/L? {image}
Hi Normtold, and welcome..

A close in the direction of the trade is indeed one of the set up's I use. (there are 2 others but I gave you my favourite here)

We are presuming that because price is turning around at the low and high of day then we have found the daily support or resistance, so we place our stops the other side of that.

here's the indi I use, you have to mess around a bit with the settings to get it to look how you want

http://www.forexfactory.com/showthread.php?t=182841
tradewith60
  • #83
  • Sep 2, 2015 4:05am Sep 2, 2015 4:05am
I have closed out GU because of NFP, will wait until after the news now
tradewith60
  • #84
  • Sep 2, 2015 4:37am Sep 2, 2015 4:37am
Thanks for the reply and the indicator.

So if I understood you correctly the stop loss is placed below the new low bar of the UK session (where I placed the red arrow).
Attached Image (click to enlarge)
Click to Enlarge Name: 60M GU H1.png Size: 23 KB
  • #85
  • Sep 2, 2015 4:49am Sep 2, 2015 4:49am
Hey 60minuteman

Your thread has reminded me that "I" seem to be the single most "dangerous" factor in my trading.
I find that if I open a trade, set a SL and TP and then turn the computer off, I am much more successful than if I sit and watch the trade move up and down.
I do not seem to have the discipline to let profits run, so turning off the computer and doing something else forces this.
I am looking forward to the opening of your website.

When you say that the exit is much more important than the entry, this is brilliant.
I have made the mistake over agonizing over a entry, and then closing the trade because it is a bit in profits.

PGPB
  • #86
  • Sep 2, 2015 5:36am Sep 2, 2015 5:36am
Quoting normtold
Thanks for the reply and the indicator. So if I understood you correctly the stop loss is placed below the new low bar of the UK session (where I placed the red arrow). {image}
yes, I give it a little extra room. For the entry I want a momentum breakout of the high, this is my favourite entry - im wary of bottoms that don't move (if you excuse the pun)... I want it to hit the liquidity, turn and move...
tradewith60
  • #87
  • Edited 2:46pm Sep 2, 2015 5:38am | Edited 2:46pm
Quoting pgpb
Hey 60minuteman Your thread has reminded me that "I" seem to be the single most "dangerous" factor in my trading. I find that if I open a trade, set a SL and TP and then turn the computer off, I am much more successful than if I sit and watch the trade move up and down. I do not seem to have the discipline to let profits run, so turning off the computer and doing something else forces this. I am looking forward to the opening of your website. When you say that the exit is much more important than the entry, this is brilliant. I have made the mistake...
Hello mate, nice to see you again...

Yes you are right, how we preceive risk is excellent if you're in the bush avoiding lions and leopards but truly awful if you are trying to trade markets. One of the worst things you can do is sit and watch price action - we read way way too much information into the shape of a candle when it's real importance is next to nothing. I now have an alert on my phone that goes off at 58 minutes past the hour, then and only then do I go and look at the charts...
tradewith60
  • #88
  • Sep 2, 2015 9:07am Sep 2, 2015 9:07am
GU low starting to move

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-09-02 at 17.05.53.png Size: 18 KB
tradewith60
  • #89
  • Sep 2, 2015 12:47pm Sep 2, 2015 12:47pm
GU closed down from the high, closed my long for a very small profit, will wait for london now
tradewith60
  • #90
  • Sep 3, 2015 1:13am Sep 3, 2015 1:13am
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-09-03 at 09.01.11.png Size: 20 KB
tradewith60
  • #91
  • Sep 3, 2015 1:28am Sep 3, 2015 1:28am
I see you didn't wait for London open then Nice trade.

Do you ever close partial or move your stop loss to break even or simply wait for the next signal?
  • #92
  • Sep 3, 2015 1:41am Sep 3, 2015 1:41am
Quoting normtold
I see you didn't wait for London open then Nice trade. Do you ever close partial or move your stop loss to break even or simply wait for the next signal?
Hi Normtold,

yeah, I lied.... at least it was a valid high.. I had a sudden moment or clarity "that last valid trade you left went 100 pips" sort of thing.

I'm not going to discuss the whole strategy here Normtold because I have paying subscribers, what I will say is I don't do anything to a short from the high until it has at least made a new low.
tradewith60
  • #93
  • Sep 3, 2015 1:52am Sep 3, 2015 1:52am
Inserted Video
tradewith60
  • #94
  • Sep 3, 2015 2:19am Sep 3, 2015 2:19am
there's lots of golden stuff in that video, personal favourite is this statement "the real value is in the consistent and honest implication of your own personal methodology" - I love that
tradewith60
  • #95
  • Sep 3, 2015 3:14am Sep 3, 2015 3:14am
Quoting 60minuteman
https://www.youtube.com/watch?v=n7WgRtLbx4k
That's a good video D, thought provoking! I do really like the vids that you post up...
  • #96
  • Sep 3, 2015 3:25am Sep 3, 2015 3:25am
Quoting normtold
I see you didn't wait for London open then Nice trade. Do you ever close partial or move your stop loss to break even or simply wait for the next signal?
Hi normtold

60 says he sleeps but I have a sneaky suspicion that his real name is Lt Comm Data
  • #97
  • Sep 3, 2015 3:40am Sep 3, 2015 3:40am
Quoting rover99x
{quote} Hi normtold 60 says he sleeps but I have a sneaky suspicion that his real name is Lt Comm Data
I could do with me sleep T that's for sure
tradewith60
  • #98
  • Sep 3, 2015 4:56am Sep 3, 2015 4:56am
NFP looming on the horizon, long from bottom failed to trigger so moved my short to b.e and will wait until after news now

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-09-03 at 12.51.27.png Size: 16 KB
tradewith60
  • #99
  • Sep 3, 2015 5:08am Sep 3, 2015 5:08am
Quoting 60minuteman
NFP looming on the horizon, long from bottom failed to trigger so moved my short to b.e and will wait until after news now {image}
you could argue I should of just taken the 45 on the short and then sat out until after nfp, and you would probably be right.
tradewith60
  • #100
  • Sep 3, 2015 5:13am Sep 3, 2015 5:13am
Quoting 60minuteman
{quote} you could argue I should of just taken the 45 on the short and then sat out until after nfp, and you would probably be right.
Hi 60,
Suscribed ! Interesting thread !

Excellent Video.

Thanks!
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