(ps I’ll reconsider if it hits resistance … or is it support? the bottom blue line channel thingy. But I’ve got a nice 10% return -shoulda been 20%- increase in my bankroll from shorting it today.)
So I moved out of Never Lose Again and found your thread. Well last night I set up a SHI channel on two pairs along with RSI set at 7 and Stoch 5,3,3. I could see the trend and price was at the outside line of the SHI so I set an order on the pullback and take 40 pips. I was using the H1 time frame.
Well this morning got up and hit both my TP’s for a total of 80 pips. That was sweet. Today I used the SHI too scalp a few seems to work pretty good.
So I can see why you asked how I could see trend on my psych trades but on psych trades I only use the H1/D1 candle color and psych trades to enter trades but with this I only take 5-6 pips then Im out unless both candles are the same color. I never enter a trade against the H1 color so to enter long it must be greeen or red for short.
The SHI works good and I have a tro linear regression but Im not sure how this works? I put it on my chart and it gives a approx 45 degree angle to my SHI. So I am still looking for how to interpret the LRG or if this is even needed.
Also I see that you have said you only trade one pair at a time how do you determine what pair? Possibly by the trend or maybe if the SHI channel is wide.
So the the long play I did early finally hit its T/P but only after I decided to secure the win and take a small profit.
I stayed in that dang trade all day, allowing to come within a few pips of my TP and still let it simmer. When I left work and headed home I set a S/L (in the money, not negative) and of course it got hit. An hour later bam, I get an alert that my TP level was hit…
Lesson learned: while securing small profit is better than loosing, let a well placed trade play out…
I cashed in on my EURUSD. I was going to sit on it for the evening, but it got pretty darn close to the support line, so I took the money and ran. It seems a lot of the major pairs are trending rather close to the Shi_Channel boundaries. I really don’t know what to make of that. I’d guess they are heading for a reversal, but … I have trouble accepting they are just going to stop because of a green line on my computer screen.
I am one of your many silent readers that read your threads to help me in the ways of the forex. I for one would follow where ever you take this thread.
So I am looking to learn some stuff about trading…I come on babypips forum and look around a bit…I find some stuff by this guys named TheRumpledOne.
It’s pretty cool stuff and something akin to my personal taste for analysis so i get involved and start to learn lots.
He gets banned.
I am a little peeved about this, but hey…life goes on.
I start to look around the forum again for more knowledge. I find this thread by a guy named mp1640.
again…it’s pretty cool stuff, and it provides a heap of missing pieces for my overall trading methods…I tag along and learn as much as I can, but this time keep a low profile and mainly just lurk in the thread.
What happens…Yes…BANNED
ADMIN…What the hell is your problem???
Why are you banning the people who are teaching profitable methods/tactics?
are you all going to lock yourselves up in his ranch in waco texas…saying the world dosent understand us…the world doesnt understand…MP is our saviour lol…the drawdown king! long live the king:D
I’ve noticed this trend as well. Quality advice is hard to come by. And it seems when it is found … there’s almost a window of opportunity before it’s shut down.
What gives?
Is this a forum devoted to helping beginners?
Or is it’s sole purpose just to reel in fresh meat, and then toss them to the sharks?
This will be my only comment on the subject. Google his handle, check out the 3 forums he has been banned from and some of the horror stories of peoples losses [B]then[/B] step back and ask yourself whats really going on