DislikedI usually place my orders a bit under the TL but noticed GBP was tanking so placed it a bit higher. {image}Ignored
Very nice Cryptosurf. Congratulations! :-)
- #122
- Feb 22, 2016 7:00am Feb 22, 2016 7:00am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote} Very nice Cryptosurf. Congratulations! :-)
Sometimes i will also fib out the swings to see if there's room, but mostly follow the TL on the daily candle. In the evening (asian session) place my pending orders after daily candle closes.
Following this technique is Ultimate Reward indeed.
Trade with confidence, trade without fear.
- #123
- Feb 22, 2016 7:24am Feb 22, 2016 7:24am
{quote} Thanks, i also load up the basket using the same technique. {image} Sometimes i will also fib out the swings to see if there's room, but mostly follow the TL on the daily candle. In the evening (asian session) place my pending orders after daily candle closes. Following this technique is Ultimate Reward indeed.
You are very good Cryptosurf :-)
- #124
- Feb 22, 2016 7:32am Feb 22, 2016 7:32am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #125
- Feb 22, 2016 8:49am Feb 22, 2016 8:49am
{quote} Thanks, i think it's important to let price come to you rather then chasing prices moves. If you plot out the trend lines and place your orders accordingly then let the price fall in the desired direction. Trading this way is actually a bit boring and much less stressful. You're not staring at the screen all day chasing price.
whats your next move?
It's always part of a bigger plan
- #126
- Feb 22, 2016 9:02am Feb 22, 2016 9:02am
{quote} Thanks, i think it's important to let price come to you rather then chasing prices moves. If you plot out the trend lines and place your orders accordingly then let the price fall in the desired direction. Trading this way is actually a bit boring and much less stressful. You're not staring at the screen all day chasing price.
here are my questions, if I may?
I agree with You, systgem with two TL's are a little bit time consumption.
- If I understand, You trade only "Breakouts", right?
- You wait for close candle (Asian 11:00 PM), ok?
- Which rules do You have form exit trades?
- You mentioned here, thath You place orders a bit under the TL: http://www.forexfactory.com/showthre...12#post8768812
So, You use STOP orders?
- How do You use SL?
- How long do You have pending orders under TL?
- Do You have any other screens for example?
- You places STOP orders only top or bottom main H4 TL?
- How far from TL You set STOP orders (in pips)?
- How long do You trade this system?
Thank You very much for Your time and greetings to USA
Daniel
- #127
- Feb 22, 2016 9:32am Feb 22, 2016 9:32am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote} Hi Cryptosurf, here are my questions, if I may? I agree with You, systgem with two TL's are a little bit time consumption. - If I understand, You trade only "Breakouts", right? - You wait for close candle (Asian 11:00 PM), ok? - Which rules do You have form exit trades? - You mentioned here, thath You place orders a bit under the TL: http://www.forexfactory.com/showthre...12#post8768812 So, You use STOP orders? - How do You use SL? - How long do You have pending orders under TL? - Do You have any other screens for example?...
But generally I plot out the TL on the 1D close and fib the swing hi/lows. Check direction of trend, if trending up or down i want to ideally get in on the pull backs so im always trading in the direction of the daily trend. I try not to long in a down trend or short in an uptrend. SL are set at 100pips once im in at least 50pips profit, move to break even, in 100+ profits move higher, once i see the market stall then close out half positions.
Pending orders are all cancelled about half hour before daily close as not to get screwed on fattening spreads due to low liquidity.
I been trading this way for the past month or so, its still a refining process. I load up the basket and let the law of averages kick in. If a pair is ranging on the daily candle then ill pass or place orders wider on the chart.
Most of the times it works, but when you have events like Japan announce they are going neg interest rates then it can sting. Went from a +450 pip basket to a -1000.
Trade with confidence, trade without fear.
- #128
- Feb 22, 2016 10:16am Feb 22, 2016 10:16am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote} Congrats!
Trade with confidence, trade without fear.
- #131
- Feb 22, 2016 10:58am Feb 22, 2016 10:58am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #133
- Feb 22, 2016 11:25am Feb 22, 2016 11:25am
{quote} Thank you for starting this discussion here on FF. I think it's a much more rewarding strategy then chasing price/pips hoping for it to go in your favor. The beauty is in its simplicity.
Thank You Cryptosurf
Do not worry, I will thinking about Your system. It is interesting :-)
- #134
- Feb 22, 2016 11:30am Feb 22, 2016 11:30am
I like very much this system, but there are so many trend lines that we can draw, how you know your trend lines are the right one? I draw trend lines but many times they are different than other traders... Thanks!
Hi sylbolid
It is question on me, or on Cryptosurf?
My TL's are built on higher TF's. Of course, TL's are about experiences. What is ok, what no. So, I recommend practising...
- #135
- Feb 22, 2016 11:44am Feb 22, 2016 11:44am
{quote} Hi sylbolid
I like the way Cryptosurf trade too!
Syl
- #136
- Feb 22, 2016 11:48am Feb 22, 2016 11:48am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote} Hi sylbolid
Then I switch to 4H and plot the short term trend.
This is an example of the 4H breaking up.
You can choose to place pending orders on either side of the TL's just be careful longing in a downtrend and shorting in an uptrend.
In a downtrend this is what i want to see:
And this is how it pans out:
Trade with confidence, trade without fear.