according to my charts, today's low happened minutes before the euro open session. Not the UK as written in the rules?
If trading strictly to the rules then this isn't a valid trade
If trading strictly to the rules then this isn't a valid trade
Can you teach me Carry Trade and Swing Trade? 5 replies
Golden rule: trade the trade! 16 replies
usa trade balance cad trade balance 6 replies
Philly Fed later - trade or not to trade? 10 replies
Months to trade or not to trade Forex? 2 replies
Dislikedaccording to my charts, today's low happened minutes before the euro open session. Not the UK as written in the rules? If trading strictly to the rules then this isn't a valid tradeIgnored
DislikedThink understand now )) Correct me please 1. We wait for Asia close 2. We wait for new H or L after Asia 3. We wait for the "reversal" candle after this new extremum 4. We wait for the next (one or more) candle after the "reversal" one 5. If one of the next candles breakouts the reversal's high we buy, low - we sell. Right?Ignored
Dislikedaccording to my charts, today's low happened minutes before the euro open session. Not the UK as written in the rules? If trading strictly to the rules then this isn't a valid tradeIgnored
Disliked{quote} Hi 60, as for today's EU, will you long it at the low? especially it's holiday in US today. Thanks. Regards, Jay {image}Ignored
Disliked{quote} Hi Jayhong, yes I took the low and now I am hedged from the high - I try to reduce the excluded days to a minimum for nothing more than the fact in backtesting I exclude no days and the results are positive. (also last monday was a UK holiday and a winning day...)Ignored
Disliked{quote} thanks for your clarification 60! So for this EU trade, we may lose around 20 pips. right? Regards, JayIgnored
Disliked{quote} yep, correct Jay... When the hedges are wider it is possible to win on both - but they are the least common outcome, along with losing on both. The purpose of using the hedge is to do with decision making - it feel's wrong and that is a natural human response. There's a really good quote from the Turtle traders (this is not word for word but as I remember it) "if you have the choice of 2 trades, pick the one you like the least"Ignored
Disliked{quote} Thanks 60. I am wondering whether you not just hedge, but reverse the trade instead. Say you long at low for 1 lot then short at high for 2 lots? If yes, at what circumstances will you try to do so? One more question abt this system, do you think that I can apply similar ideas to asian ccys, like audusd, nzdusd, usdjpy or even usdcnh usdsgd. first to look at NY afternoon session price range, second to wait for the breakout of that range in asian time, third to enter at high or low...? Thanks a lot for your patience Regards, JayIgnored
Disliked{quote} stop and reverse I will do also, if you look back at last weeks posts I closed the long and took the short (essentially the same with a 2/1 hedge) - the important think to grasp is that (despite what most people will say) we always have to make a judgement call with regards entry and exit, sometimes you will be right, sometimes wrong. you could of course make this work on other currencies - it is just convenient that we will often have a lower volume of trades in the Asian session for the euro/dollar pairs. Remember the logic is sell high,...Ignored