I caught that big rise in GU over the last 2 or 3 hours. That’s trading the news I know which is not such a good thing to do but it paid off today. My trailing stop just got hit a few minutes ago.
anyone have any suggestions for a trailing stop setting on 1H charts?
OR
another variable way of taking profit?
I had a 20pip trailing stop for that big move up today but generally I think that’s a little too close for GU 1h. Most of the time I trail by 50 bu usually I enter and exit manually and the TS doesn’t get hit unless I leave it overnight. I’m still have some trouble with my 1h staying out of ranges.
is it the same MAs as the EA i made for u? that one seemed great except for the ranging periods, i have the same trouble with mine :mad: trying to find an indicator that can help show ranging periods so i can avoid those trades
Robert, should a 80:2 Bollinger on a 1 Hour chart not be the same as a 20:2 on a 4 Hour? … good chance that I’m mistaken, but… ?? Need to check with the big dawg first before moving forward. I’ve consulted Dr. Guinness over the last 3 days and I can’t quite reason through these charts/bollingers not matching like I think they should. 
I’ve looked at so many different things I don’t remember which MAs we were looking at. I have an idea though on something that might help with the ranging.
Happy new year all
That you pickin’ that guitar? 
it was the 7/30 MAs and what can help with ranging? id like to know 
Yes they are the same. Not an exact match as 1h is updating the boll four times faster but near enough as makes no difference. For comparison I compared NZD/USD (no special reason… just first pair on my charts).
1h upper boll = 7330
1h middle boll = 7169
1h lower boll = 7035
4h upper boll = 7308
4h middle boll = 7180
4h lower boll = 7049
Thank you for clearing that up. My days of thinking they were approximate are over. Came out on the wrong end of a trade due to basing my trade on the 1 Hour chart thinking they were approximate. Always good to weed out things like this.
Now I’m exclusively a retail trader I’ve increased the pairs I’m looking at to 12. I trade the daily and it seems the JPY crosses are largely overbought. Also NZD/USD is looking increasingly like a drop. Will post my trades as and when… no mocking now… or I’ll take my ball and go home.
The start of this years trading looks to be lively with the upcoming news of the first week. Good trading to all.
what happened with the job? not like you really needed it as you could’ve always traded retail anyways lol but i am curious. and now im gonna go look at all my JPY cross charts lol
edit
well just looked at usd/jpy and ya daily 8/3/3 stoch and 1h 8/3/3 stoch are both overbought and it looks like price is turning right under and overshoot resistance level
same thing with gbp/jpy might have to take some longer term shorts now
30 years trading and the big 50 this (last year :)) seemed like the right time to quit. All of the guys I started out with have long since taken the money and run. Time to get out and trade my retirement fund more seriously. All the JPY crosses are looking good (on the daily).
wow, well its good that you have retired i cant imagine why u havnt sooner haha. btw the JPY charts look better on the 1h :mad: lol ive been trying to only trade 2 currency pairs but trade use more timeframs like 1H 4H and daily, for right now trading more pairs just seems like a big hassle having to figure out SL and TP and such anyways GL and have fun bein retired
With 8 of my 12 kids still under 16 could I afford to retire sooner!
Ah… heres the thing about trading the daily. You have plenty of time to wait and figure the set up properly or if you have a real job and dont want to sit in front of the monitors for countless hours then its the way to go. A typical trade will last around 1-3 days, sometimes a week or more (take a look at EUR/JPY on the daily) 500 pips and a 10 day trade.
Just need to make the trade size small relative to your account size. I usually have multiple positions open but wait until one trade is in profit and my SL is inside the trade before going after another.
haha, well ive been lookin at daily trade but then id also have to adjust my lot size and instead of making 500$ from 500 pips id make .60$ a pip or something around there thats the only thing thats stoppin my from trying a few daily trades
Seriously… take some time out to crunch the numbers (youve got Sunday :)). I figure on taking 100 pips a week as my benchmark but average 80 a day. Even 100 pips a week is 5000 a year. With compounding you can grow a small account big in a year or two. 
Thing is you dont make 500 pips on the 5m, 15m, 1h or 4h… tell me I’m wrong. Too zoned in to that TF chart!
That’s for damn sure. Only thing those lower time frames are good for is timing an entry or exit.