Hi there,
In answer to your question number1.
I am not sure which timeframe you were speaking about with regards to the cross on the 29th being a bad signal.
I primarily try to trade on the daily.
The daily cross happened on the 29th, so you would have entered at the open of the next daily candle (30th), this opened @ 231.33 and it closed @ 231.88, thats a profit of around 55 pips, although it peaked @ 232.00.
Your stop would have been 230.55. (How i come to my stop is in an earlier post
)
50 pips profit, not bad for a friday, i have to say i didn't enter this trade as i was happy with my gain from the action the day before. I don't trade on Fridays, Sundays, or indeed Mondays if i can help it....unless i see the kind of signal that makes my mouth water! LOL
QuestionS 2 & 3
Hmmmm, how long is a piece of string mate? LOL
I am lucky enough to be able to trade while i am at work, but i also have a job to do with the meetings and lunchbreaks that go with it etc....
I am in London, so on the daily, when it steps, it is 5am here!
I next check it when i get into work about 8am.
Then at about 2-3hour intervals after that.... morning tea-break, lunch, afternoon tea break then just before i leave.
....This is when i tend to come out of most of my trades as that way, once i have left work i have nothing to worry about, work is over and so is my trade.
So my time is mine and my girlfriends
There IS often an occasion where my indicators suggest that the trade will continue the next day (2nd day after the cross) in this case i will set a stop at say 50, 100, 150....(whatever is on the radar) and see what happens the next day.
Sometimes it stops out and continues the trend, a bit annoying, but you still have your days profit...of course it can retrace-but you have your stop in place so the money ya made is still yours....and if it doesnt do either of these, you're laughing!
If your indicators are saying that there may be a 3rd day, you just do the same again, adjusting your stop so you keep your days profit.
Don't be greedy for just a few pips more, you'll end up on your arse!
SECURE YOUR CAPITAL!!
I hope this helps you.
Good luck to all for this coming weeks trading