Hey bank, have you thought of posting your conditions on the vt forums to have chris create a automated system for you?
Such is the world of FOREX, as we share we learn, no sense in trying to keep some almighty secret. As for trading days I prefer Monday to Thursday. Sometimes its just one day for the week depending on the length of the swing trade. Have a good one and we will share more next week.
Hey raging, I never thought of that. If it can be done it would be great. The rules are pretty simple so it may be possible. How do I connect with him?
under the platform go to help tab and there is a icon for online forums…register and post a request for trading systems and put your trade logic and the admin will answer pretty quickly. I would suggest asking for a flexible TP that you could manage within the system
H4 Short setup at 1.6140 taken with stop @1.6195. Volatility is very high for the past few weeks so be careful.
Support at 1.6118, 1.6073, 1.6037, 1.6012.
GM and Thanks raging! Gonna check out today.
30M PVSH Short Pending below 1.3545. We await a close below this level and a pullback to it to go short.
Short did not trigger. This level was used as support for buyers.
Closed this trade. Counter Trade setup on H4 in favor of the bigger trend…Close above 1.6185 will confirm likely continuation.
Closed out profits on EUR/USD and GBP/USD Long trades. Today is Friday and can get wacky. There will be many opportunities going into next week.
Have a Great Weekend and Happy Trading!
gm all, seems our little thread is starting to grow lol
Im holding my eur/gbp short @ .83944 until before close as I do not hold positions over the weekend.
http://img233.imageshack.us/img233/5927/screenhunter01feb180925.gif
An idea for trade managment for some of the newer thread viewers…
When I enter a position I use my TP1 (the difference of my entry and the last pivot high or low depending on trade) to adjust my stop to Breakeven.
For example, my current trade short on eur/gbp, I entered short on the low of the last swing high candle @83944 and the last swing high was 84044 = 10.9 pips, I then subtract the 10.9 pips + spread from my entry to mark TP1 (83825) to adjust my stop or take profit for a R/R of 1:1 or at worst breakeven, up to you
Raging, GM! Good trade man! You and I share the same philosophy…“No over the weekend hold” lol Have a good weekend.
Hi RB - is the S/R shown in the 4H chart Barry’s Support & Resistance? This has been interesting reading so far and I like the use of the 30M & 1H TFs.
yes dobro thats berry s/r, since I dont have chaos fractals on mt4 the s/r is the closest thing along with the zigzag indicator
Hi All, I have spent some time tweaking to improve on this method, further reducing risks and increasing rewards. See post #1 regarding the rules for this addition. Examples will follow below:
[B]GBP/USD H4 - July 15th 2010[/B]
- Sell Pattern and Fractal High created
- Fib from the previous Fractal Low to the Current Fractal High. Since we have a SELL candle pattern we expect downward movement.
- We wait for a close below the 11%, then wait for testing or signs that the 11% resistance is holding.
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We enter short with stops 8-10 pips above the 0%.
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We break even when 55% is broken and begin to take profit at the 89% level
End of Trade!
[B]EUR/USD H4 - August 24, 2010
[/B]
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Buy candle pattern after selling.
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Fib from the current Fractal Low to the previous Fractal High. Since we expect the market to BUY.
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We wait for a close above the 11% and testing of the 11% support and enter Long with stop 8-10pips below 0%.
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We break even at the 55% and begin to take profit at the 89% Level.
End of Trade!
[B]EUR/USD H4 - Feb 2, 2011[/B]
RISK 43 REWARD 227-258 OR 1:5+
Here is a little mental masturbation for some of you in here lol, this was done demo on the 4hr TF doing a manual backtest since 01/24/11 - 02/17/11.
Approximately a 17.7% return in under a month, couldve been better got sloppy at the end as you can see but thats life…