A few traders have asked me what happens after the first trade I post. So here’s last nights session. I am at my desk for this type of session.
Try to post this earlier. Don’t know what happened Entered on a pull back and just been riding the smaller trend
Enter on green, fixed stop on Red, TP at gold. On first 5 pip profit change fixed stop to trailing stop
First trade is GBPUSD Long. I used a modified Fibonacci retracement tool to give me my entry, take profit and stop loss entered between 23.6% & 38.2% levels. Stop loss is just over 50% level. Take profit at the 0 level. I have place an alert around 50% at which point I will switch from fixed stop to trailing stop.
Where does one acquire suck a fancy heat map? Thanks!
Actually I just found this on an old @PipMeHappy post from from 2015. Thanks, PMH and thanks, Search button!
Heat map by time frame
I just checked it out. Looks Good & it’s free, hard to beat. Below is another free MT4 indicator that I use along with my heat map.
@gp00053 How are you doing?
Otherwise, I’m pleased the map aligns pretty well with my own grading - buy USD, NZD and some GBP pairs, sell EUR.
Good Thanks for asking. You play the hand we’re dealt. How about yourself
Sounds like a plan to me. Remember 1st rule; Always protect the bank roll.
I’ve been riding the GBPJYP long since the 1st of the month. I’m long Waiting for the retrace
You spoke like a true poker player!
I am fine and so is Emerald.
Just getting on with life and dreams
Great rule, BTW. I’ll write this out and stick it on my monitor.
LOL I did the same thing for year. If you keep thinking and doing that it will pay off
Good Luck and keep me posted
Pending Buy GPB/CAN after 1st TP move from fixed stip to trailing Stp 5 pips
I have a pending buytrade USD JPY Move fixed stop to trailing stop when price action hits TP
Hi.thank you for sharing…i was just wondering about the currency strength weakness tabs down the edge of your chart and where i could access this ? Cheers,Dre
This is a free MT4/5 indicator. You can access it by either google using the above or MT4 platform at the bottom of the page click on code base and again you’ll find it there.
Have A Good One
Another trader asked me if I just trade the hour time frames and if I ever trade on the daily. So I told him I do both for example here is one from the daily. It’s a pending sell trade on GBP/CAD on the daily. My plan is to enter a quarter of a position. Use a fixed stop until price action moves 100 points (10 pips), Then move to break even then switch to a trailing stop of 100 points and add another quarter of position with a 100 point fixed stop and if price action continue down after 100 points switch to a trailing stop at break even and continue to add a quarter position til all trades are stopped out.
The beginner's guide to FX trading