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Trade with 60

  • #501
  • Feb 1, 2016 9:47am Feb 1, 2016 9:47am
Did everything wrong got stopped out twice so BANKED the +68pips to get me back to Breakeven happy with that, no reason to be out its just stuttering around Fridays open and it squares me up ready to trade again
  • #502
  • Feb 1, 2016 10:16am Feb 1, 2016 10:16am
Added sl at BE to cover my 37 pips loss from the latest short so the question is. to close at +70pips or to wait untill hard tp at +120 pips
Update: closed manualy at +70 so the profit for the day is 33pip.Cya tomorrow
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Trade with 60
  • #503
  • Feb 1, 2016 10:20am Feb 1, 2016 10:20am
I except that I do not understand the finer points of the method yet
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  • #504
  • Feb 1, 2016 10:34am Feb 1, 2016 10:34am
I realised that this wasn't a reverse trade setup.Candle wasn't coming from the HH. Being stupid to trade ffs.
Even with this day is still positive.
P.S. 60 please comment on this what do you think.Thank you
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Trade with 60
  • #505
  • Feb 1, 2016 10:40am Feb 1, 2016 10:40am
Quoting kumetto
I realised that this wasn't a reverse trade setup.Candle wasn't coming from the HH. Being stupid to trade ffs. Even with this day is still positive. P.S. 60 please comment on this what do you think.Thank you {image}
Hi guys... I think you have it... just remember, my rules are for structure only, a way to control my actions when the emotions of trading are affecting my decision process. The entry really does not matter (this next bit is important!) - you can trade every breakout of every high and low
tradewith60
  • #506
  • Feb 1, 2016 10:40am Feb 1, 2016 10:40am
Quoting OAPDave
Did everything wrong got stopped out twice so BANKED the +68pips to get me back to Breakeven happy with that, no reason to be out its just stuttering around Fridays open and it squares me up ready to trade again
You're doing it great Keep it up
Trade with 60
  • #507
  • Feb 1, 2016 2:05pm Feb 1, 2016 2:05pm
Quoting kumetto
{quote} You're doing it great Keep it up
Thanks mate, just got to figure out the finer points of trading this, need to get my head around if the market takes you in, let the market take you out, always used targets /levels before so got to get use to this rule, no idea about what you have mention about the reversal trade, being the wrong thing to do,
Thank you 60 for you wise words ( you can trade every breakout of every high or low ) simple words but very true
  • #508
  • Feb 1, 2016 2:43pm Feb 1, 2016 2:43pm
Quoting OAPDave
{quote} Thanks mate, just got to figure out the finer points of trading this, need to get my head around if the market takes you in, let the market take you out, always used targets /levels before so got to get use to this rule, no idea about what you have mention about the reversal trade, being the wrong thing to do, Thank you 60 for you wise words ( you can trade every breakout of every high or low ) simple words but very true
when it comes to exits there is only really 2 things to consider.

1. If there is profit on the table it is never wrong to take it off - it may not work out being the most profit you could of had, learn to accept that.

2. If you have risk on the table it is never wrong to manage the risk - make a judgement based on what the market did not what you want it to do.

This system will give you a constant stream of opportunities - you don't need to have the best exit, you just need an acceptable exit.

Here are my trades today, you will see I took every breakout - was my exit the best? No... was it acceptable? yes... after I exited did I get an opportunity to get back in when the move continued? yes...

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tradewith60
  • #509
  • Feb 1, 2016 4:30pm Feb 1, 2016 4:30pm
Quoting 60minuteman
{quote} when it comes to exits there is only really 2 things to consider. 1. If there is profit on the table it is never wrong to take it off - it may not work out being the most profit you could of had, learn to accept that. 2. If you have risk on the table it is never wrong to manage the risk - make a judgement based on what the market did not what you want it to do. This system will give you a constant stream of opportunities - you don't need to have the best exit, you just need an acceptable exit. Here are my trades today, you will see I took...
Thank you
Trade with 60
  • #510
  • Feb 1, 2016 4:48pm Feb 1, 2016 4:48pm
I have been silently looking and learning from this thread for awhile and I just want to say thank you 60minuteman for giving us a very simple yet effective way to trade. I have began to apply this to my trading strategy and look forward to having great success.
  • #511
  • Feb 1, 2016 5:33pm Feb 1, 2016 5:33pm
Quoting Checkz
I have been silently looking and learning from this thread for awhile and I just want to say thank you 60minuteman for giving us a very simple yet effective way to trade. I have began to apply this to my trading strategy and look forward to having great success.
you're welcome Checkz, this isn't the first time we have met here is it?
tradewith60
  • #512
  • Feb 1, 2016 6:29pm Feb 1, 2016 6:29pm
Quoting 60minuteman
{quote} you're welcome Checkz, this isn't the first time we have met here is it?
LOL no it's not.
  • #513
  • Feb 2, 2016 2:37am Feb 2, 2016 2:37am
Not trading today as having some X-Rays this morning, best of luck today guys, Thanks 60 for your trading example from yesterday most helpful.
  • #514
  • Feb 2, 2016 2:43am Feb 2, 2016 2:43am
Quoting OAPDave
Not trading today as having some X-Rays this morning, best of luck today guys
Thank you
Trade with 60
  • #515
  • Edited 4:18am Feb 2, 2016 2:43am | Edited 4:18am
EU liftoff
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sell stop from the high
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Trade with 60
  • #516
  • Feb 2, 2016 3:07am Feb 2, 2016 3:07am
Nice strategy. Thanks for sharing, Darren. Catching up with the thread. This is GU at the moment: I'm not sure what happens with the buy PO now... will it stay there and the stop will be moved to the lower low that just formed? Or shall we just delete it and wait until a new setup forms? Thank you
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  • #517
  • Feb 2, 2016 3:22am Feb 2, 2016 3:22am
Quoting Hammertop
Nice strategy. Thanks for sharing, Darren. Catching up with the thread. This is GU at the moment: I'm not sure what happens with the buy PO now... will it stay there and the stop will be moved to the lower low that just formed? Or shall we just delete it and wait until a new setup forms? Thank you {image}
are you looking at trading hi/lows? hi/lows and reversals? or just trading every breakout?
tradewith60
  • #518
  • Edited 3:39am Feb 2, 2016 3:25am | Edited 3:39am
Quoting 60minuteman
{quote} are you looking at trading hi/lows? hi/lows and reversals? or just trading every breakout?
Well, the order (blue line) was placed on the b/o of the reversal after the 1st low formed. I suppose though your reply means the order will need deleted LOL
So practically a new low voids the previous PO, is that right?

On a side note, I suppose the 100 promotion is over by now, isn't it? Pity I discovered this thread only now...
  • #519
  • Feb 2, 2016 3:45am Feb 2, 2016 3:45am
Quoting Hammertop
{quote} Well, the order (blue line) was placed on the b/o of the reversal after the 1st low formed. I suppose though your reply means the order will need deleted LOL So practically a new low voids the previous PO, is that right? On a side note, I suppose the 100 promotion is over by now, isn't it? Pity I discovered this thread only now...
still 12 slots left on the 100 promotion.

yes, once the next bar closed - the long from the low would be cancelled - and a reversal short would of set up on the next bar
tradewith60
  • #520
  • Edited 4:15am Feb 2, 2016 3:56am | Edited 4:15am
Quoting 60minuteman
{quote} still 12 slots left on the 100 promotion. yes, once the next bar closed - the long from the low would be cancelled - and a reversal short would of set up on the next bar
Sorry, I'm still half way on the thread so it looks like I haven't got to the reversal bit. Gonna grab the promotion, thanks. Keen to know more but basically you just enter on the failure of the new formed low without waiting for a higher high to form? In a few words we should be short now?

Edit: sorry, we did have a higher high which didn't take the long. Similar to this trade http://www.forexfactory.com/showthre...44#post8501644

2nd edit: and now there should be a hedge in place. I hope I got it right.
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