Exited here @098, +50 pts on 3/4, and +77 on 1/4... Waiting for re-entry opportunity... The trend is your friend.
Hi Scientist, A few questions on your eur setup: 1.Why did you consider the eur trade#2 low probability ? 2. The trend on the 60min is down but i notice you connected the lows to create the parallel line...shouldn;t the highs be where the trend line is formed and then the parallel taken from that? 3. When trading these setups do you bid/offer and set your stop at a level you are comfortable with, or do you wait for a rejection of the level , enter, and then set your stop? How do you trail the position? 4. Do you use any other technical indicators? Also, what is the main time frame that you trade from on fx? Other than volume data is there any reason why you trade fx futures instead of spot? Thanks a lot... I appreciate the insight Cheers Kwai
Hi Sci, Well done. But you made two big mistankes: 1. You sold half of your position 45 pips away from the top. Why? 2. Instead you should have added to your position. Always add to your winners, when the market is trending. Those two mistakes did cost you 90 pips! If
Hi Captain, When the market is moving fast and trending, I don't use filter and just take the best bid. I don't want the market to run away from me.
I will think about changing the rules for my system, so it always add to winners, when the market is trending. It will make a lot more pips without more risk, when using a trailing stop.
Hi again, Your wrong. Charting is no science - it's a kind of art. But charts only tell you about the past - not about the future. There' no proof that you predict the future with charts.
I can't trade realtime in a thread. So I will stop. I have to focus only on trading - not posting. But my trades are not so important. It's the system that's important. And it works very well in trending markets. But we have to wait to see what will happen in a trading range. Will we get destroyed? I don't know.
Trend? LOL it's the bottom of a channel, so it's, by definition, a trade off a trendline. You really should study the charts I've attached so you understand better... They're loaded with great hints...