Hey Soul, Download that PDF as suggested. Its ALL of Davids valuable posts up until about 5 pages ago.
Also go here:
Its a full list of FAQ’s from other members. That should be enough to keep you busy for atleast the night. You should be all caught up by tomorrow.
Good Luck!
Hi Sarkash, I will try and answer on Davids behalf as best I can. You are trading with the trend and with bias (price is below 200sma and holding). I believe David said in one of his first posts that stop losses are personal - it depends on your risk profile. So where you exit may also depend on what size SL you had on - so you can calculate your RR. That said, the f62 is an area of H1 technical support which may explain the consolidation at this level now. There is a bigger technical support level @470 (I have drawn, others may differ).
I would also expect David takes into account order flow when he is looking to exit (iirc he has mentioned this before). Also PA on a lower t/f can be used to exit, along with confluence of indicators (edit: and awareness of ATR). Another mentioned by David was trailing stops - which may suit this trade as you have momentum.
Basically what I am trying to highlight is there are many tools to help determine exit points, and you just have to find what you are comfortable with. You have the trend & bias on your side though, so you need to take advantage of this. You should practice drawing key levels on your charts, practice exiting using PA candlestick patterns on lower t/f’s etc etc.
One point though is you shouldn’t be entering trades without knowing where your target exit is, it may change as the market changes but you should have an estimate.
Hope this helps.
BD
Just breaking the hourly 200MA right now.
Also there:
61.8 Fib Fan
50 Fib Ret
previous support/resistence
Already past ATR (85 pips)
Am checking the 15 min TF but no divergence just consolidation.
You made the correct decision on entry… you spotted the 200 sma break and more importantly you identified a consolidation which held below!.. good boy, someones been ready my posts… early ones and late ones.
In terms of exit… pre-define targets either before or just after entry… your trend trading here… so make them good ones.
Remember not every candle is going to be a red one… so don’t panic if you see bull candles, especially at s/r and fibs. Trail that stop and if possible scale out some positions, but try and leave 1 or 2 contracts open incase it turns into a runner (very large move)
Stop Losses aren’t Personal, Risk Size is personal.
Refer to these posts on Stops and risk.
(Risk per trade)
http://forums.babypips.com/free-forex-trading-systems/45864-david-jefferson-aka-rave55-technical-analysis-trading-method-12.html#post374940
(stop Placement)
http://forums.babypips.com/free-forex-trading-systems/45864-david-jefferson-aka-rave55-technical-analysis-trading-method-24.html#post375418
Justin.
Good set up at the moment, I plotted a temporary BBzone using the 200 ma and a couple fib lines, seems to have held perfectly within the zone and the 200 sma.
Everyone that hasn’t seen the set up should have a look now 
good spotting shoot
:eek:
I have been promoted from posting on a thread when I can to running webinars now. :22:
I have never ran webinar in my cream puff, so don’t know much about them, and don’t know if it would interest me.
I will think about it. But don’t take that as a yes or no… it just means I will think about it.
The problem is time and effort. I don’t mind runing the thread. But videos, webinars ect ect is a totally different ball game and situation.
David: “Risk per trade is totally a private and personal choice”
and how do you determine risk? the size of your stop loss. Same thing.
i dont get what you are trying to say, sorry.
he means what percentage of your account do you want to risk, taking into account the size of your stop loss. Then you calculate your lot size.
Think what he is trying to say is;
Stop Losses need strategical placement and therefore should have nothing to do with emotions or personal reasons.
Risk Size is the personal element in this; you should always adjust your volume to suit the risk at hand.
e.g If your strategically placed stop loss is 10 pips away, and your risk per trade is $30 you’d be trading with 0.3 volume/$3 per pip
But if your strategically placed stop loss is 100 pips away, your volume would be 0.03/ 30 cents per pip
Hope I cleared things up
Yes, thats partially true. But the beautiful thing about Forex is Micro and Mini Accounts. So Risk becomes multi dimensional. You can use bigger stops but trade smaller sizes and still risk the same amount.
My point was that he was pretty specific on where your stops should be in those posts. So now its up to your position size to determine risk, not your stop.
P.S. Im not attacking you, I’m just trying to give the right information (as much as possible) based on how it has been presented originally. That way there’s less confusion going forward. You know “This guy says this about stops, and that guy said this”. It should be standard.
Cheers
Did you take a long off the 200 AUD/USD Mitchell?
Hello,
how do You know what is a ATR for the currency you are trading?
No I Haven’t, looking for any decent entries on the 15 minute chart.
Price could still swing lower and its still dead smack in my rough bbzone that I plotted, both railway/tweezer candles and the bounce off the 200 sma are making me look for longs, I might if I see a good 1-2-3 pattern line up
David, I did not promote you to anything.
I just gave options on how to centralise the info by the way of videos, no need to webinars if you don’t fancy, You lay down the structure as you want
Imagine recording a video every week or two week, either you do it on the spot without preparation or with preparation. The video can run from few minutes to 1h or more, but the files gets very big.
Have a look at the videos from ITC or petefaders threads on Babypips (I can put the link, not enough credit from the mods)
1-500-pips-per-month-method-vsa-sr-fibb-etc.
what-every-new-aspiring-forex-trader-still-wants-know.
Camtasia Studio 7, just record everything that happen on your screen with a microphone for the sound.
Lets face it, you started the thread July 18, 6 days later, you have 551 replies - 386 replies from other. so 20 message from you and 64 form the rest per day – and you just told people to look at price action at confluence of MA 100 and 200 with the fibs levels from the last significant swing.
In the next month you will have 2000 more post form the herd asking at least 300 times the same questions, Do you want to go trough that???’
Anyway it is your decision, If your ever come to Andorra, you are welcome.
Gerry
BOJ really hammered those bids… they were reported to be large.
I pay a lot of attention to bids/offers from Asian Central Banks, Middle Eastern names, Russians, and Sovereigns. Those in my opinion are the best ones to follow, as they can literally out bid anyone and put them on the street selling the big issue.
Never trade against of fight against the names above.
Depending on the charting package you use it will be an indicator you can add. Typical settings are an average of the last 14 days range but this is a variable you can play with.
With all do respect,
I don’t necessarily think it was your suggestion but more so the way you went about it. It was pretty invasive and boarder line demanding.
Poor David
Shows you the power of the big names in the market, thanks for showing us all that David, really is an eye opener.
EDIT: Also I just realised that 1.0275 bid lines up perfectly with the bottom edge of my BBZone, coincedence? I think not ahah
