{quote} nice tradeI wonder if you have a lossing trade
Ratios & Harmonics: a Different Way to Trade
{quote} I do have losing trades however the majority of trades that I post in here are b/e+1's due to how aggressive I am with stops. I haven't figured out a good stop method yet to where I can give enough room and still capitalize on the move. Using a 20+pt stop on every trade doesn't make any sense to me so currently on the majority of trades I will move stop to b/e unless price gives me a good opportunity to try giving a little bit more room.
actually this is what im waiting for the next lesson of Mr.pips about trade management.on how to trail stop loss. how big room should i give the market to move.
so far i'm also trailing using +30pts, then break even then move SL everytime there's new structure and market moves in my favor.
ok goodluck
let's wait for another lesson from mr.pips.
{quote} FXCM has a range chart option I have the indicator that I use for it if you want it it's on the tradestation not mt4
. I trade Forex with Pepperstone atm and am happy so far. But I do think about trading index futures from a tick chart, but I am a bit lost about what is reliable and good (and preferably allows me to use Ninjatrader) - all for free.I do not want to divert the discussion fro trading itself or ive room for advertisers, but if there is interest from tohers, then maybe some experiened traders can give their 2 cents? Otherwise feel free to send me a private message.
- #19,346
- May 5, 2016 3:53am May 5, 2016 3:53am
{quote} thank you for sharing. actually this is what im waiting for the next lesson of Mr.pips about trade management.on how to trail stop loss. how big room should i give the market to move. so far i'm also trailing using +30pts, then break even then move SL everytime there's new structure and market moves in my favor. ok goodluck
For shallow pullbacks, ie 38.2-50, I prefer to build a case for a short term zone that should hold and place my SL just below that.
However Im still learning and yet to call myself a consistent profitable trader. I will get there though and I hope all of you will as well!
Rise and rise again until lambs become lions
- #19,348
- May 5, 2016 4:22am May 5, 2016 4:22am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
Eurusd 15m expectation changed to nsl {image}
{quote} I use a similar strategy as yours when it comes to trailing stops but I move to BE once price tests the high/low of my main swing. For example if I enter a trade at a 61.8 retracement I will move to BE once price tests 0 retracement. Technically my stop should initially be below 100 retracement because that's when I know im wrong but I know Mr. Pip tested a more aggressive management method where you place it below 78.6. For shallow pullbacks, ie 38.2-50, I prefer to build a case for a short term zone that should hold and place my SL just...
i'm still on the learning process and you guys are awesome! putting all of your advice together is very powerful
goodluck to all of us!
- #19,352
- May 5, 2016 7:42am May 5, 2016 7:42am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
{quote} Thank you for the tip! I am very unsure about all of this. Mr. Pip said before that FXCM does not have good tick charts? I know nothing about the matter
{quote} I use a similar strategy as yours when it comes to trailing stops but I move to BE once price tests the high/low of my main swing. For example if I enter a trade at a 61.8 retracement I will move to BE once price tests 0 retracement. Technically my stop should initially be below 100 retracement because that's when I know im wrong but I know Mr. Pip tested a more aggressive management method where you place it below 78.6. For shallow pullbacks, ie 38.2-50, I prefer to build a case for a short term zone that should hold and place my SL just...
Also something else that I want to look into over the weekend is possibly moving to b/e when the position moves past the 38.2. When taking deeper entries at the 61.8/78.6, moreso the 78.6, the expectation of a NSH/NSL is weakened so maybe it might be better to lock in a little earlier. I'll attach a screenshot to show what I'm referring to.
- #19,353
- May 5, 2016 7:54am May 5, 2016 7:54am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #19,354
- May 5, 2016 8:11am May 5, 2016 8:11am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #19,355
- May 5, 2016 8:12am May 5, 2016 8:12am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
EC M3 expectation NSL, TP +40 {image}
- #19,356
- May 5, 2016 8:27am May 5, 2016 8:27am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
{quote} go go go skyline!
