Are you worried that the Monthly, Weekly, Daily stoch show a bearish signals?
OK, we are in, good entry, just according to plan. Now we wait, for weeks. Itās about as exciting as watching grass grow. We can look for another Long Term trend trade while this one works. Thatās about all there is to do now. Oh! we need to decide when to put another lot on. We can set that up with a stop buy with stop loss set so it will go on if we are asleep. Might want to set up the next couple so we donāt have to fool with it later.
What? Me worry? Never. LOL, I donāt consider those bearish signals. I donāt buy into stoch over 80% as a legitimate overbought signal. Not when price is at a 10 year low.
I went in at 1.1509
Damn i missed it, family outing going to have to wait for next cbl.
But I did notice that it hit my 2 min chart entry perfectly at 1.1491 !!!
Would you follow the 15 pip lot stagger or since this is more long term would you want more pips between each entrance?
I believe we decided on a 30 Pip stop. This is not treated the same way as the 5 lot entry system. He addresses the additional lots in a recent post.
Since this is more long term we are looking at somewhere between 50 and 100 pips between lots. Thatās something we didnāt decide before entry so we have to decide that now.
Long UChf at 1.1502, Stop at 1.1330
Just went short EurUsd 1.2508, Stop at 1.2658
Short on cross below uptrend retracement line
Thatās enough for tonight. Iāll look for more tomorrow.
Iāll set up a pending stop to add one additional lot on each trade at +100 pips with a 150 pip stoploss. I doubt it will hit it tonight, but it will be in place anyway. Now Iām done.
Hi, Graviton
why SL at 1.2658? if you take a look at the 1H chart, you can see the last lower high is at 1.2600. I would have placed a few pips above that level. Is there any particular reason for 1.2658?
Sorry you missed it. This is one of those situations in long term trading where you do sorta need to be glued to the computer to get the entry near the open. Usually, once your in you have lots of time to make decisions. But there will be more entries.
I was able to get in shortly after my post and have since put on a second lot.
I feel that with the price avg of deal book it is best to put in on the second lot early.
Plus i missed your post about it o.O 
Hi all! I really am very grateful for this thread and babypips to encounter such wonderful people around. I have learnt alot this past months, and it all wouldnt happen without you guys!
Anyway I have some couple qns that irks me.
As we know we always trade the main trend right?
So For example lets have a look at the GBP JPY.
Monthly: Downtrend but starting to level out, in a trading range i would say
Weekly: Downtrend
Daily: Downtrend
4Hrs: down trend
1Hr: Uptrend
So we can conclude the main trend of this pair is a downtrend. So we would only go short and not long give Gravitonās method of trading.
Thus even if there is a good CBL entry on lower TF for going long, we would NOT take it, cus we only want to go short and not long. Am i right to say that?
Another qns i have is, for example my home chart is the 1 hr chart. How to i get an entry? Do i look into the 30mins 15mins or 5mins? Or do i look at all 3 and find a CBL or BB DNA method for entry in either of the shorter TF?
Because sometimes i find a reversal pattern forming in 1HR TF, but went i look into lower TF, i see the trend has already begun and Im pretty lost at when do i enter?
Thank you all for your time as i really am very very happy to be part of this wonderful forum.
And lastly, im from the tiny island of singaproe! Let me know if thereās anyone else thatās from there too. God bless!
Graviton, it was fun joing you trading company yesterday!
Looks like it was really lowest level, wow ā¦ I didnt understand it yet, non took an entry :rolleyes:
I look forward for more exercises!
Please tell me ahead I will set up long term account
can I ask
is the time that we trade and look for the entry yestarday is the time for long term trading or the entry can be set during other days?
In other words must it be at the time the market opens only??
Hey Gravition,
Can you discuss the management of stop losses on swing trades. I entered U/CHF long at 1.1509 with a 157 pip stop. Put another on @ 1.1569. Should stops be adjusted this early in a swing?
Second lots went on USDCHF and EURUSD while I slept. Setting up third lot pending stop with stoploss early this AM.
Setting up third lots on EURUSD and USDCHF same as 2nd lots, 100 pip increments between lots, 150 pip SL.
Just a bit more on Stoch signals. The Stoch tends to saturate above 80% on a long uptrend or below 20% on a long down trend, so the signal isnāt very valuable. At lower time frames in day trading when the Stoch is saturated I just refer to the next higher TF for a signal. At higher time frames, like the weekly and monthly, there isnāt a good higher time frame for reference so when the Stoch is saturated at higher TFās where do we get a signal?
First of all, if you are long in a long uptrend, a Stoch saturated up is a good thing. Therefore I donāt agree that it means the pair is overbought in that time frame. The decision that a pair is over bought or over sold for that long term trade must come from a longer time and deeper fundamental analysis. I do however consider a clear fast over slow cross over, downward in this case of discussing an up trend, as a valid signal and would look at it closely in conjunction with other technical and fundamental factors to determine if I should exit that pair.
The next best indicator for that purpose would be the RSI. Iāll usually plot two on the same chart window, 10, 3 or 12, 3 and watch the fast over slow. This indicator is a bit faster to move and slower to saturate. I use it to confirm the Stoch signal.
Ultimately though, price action rules. Even though the lag of indicators is not a problem in long term trading, they still have lots of problems like the saturation of the Stoch, etc., so price action is the ultimate deciding factor and indicators are just visual aids.
In the case of the USDCHF, RSI indicated the price was still in an uptrend, even though long term Stoch was getting saturated and unreliable. More importantly, price for USDCHF was near a 10 year low, so the idea that USDCHF was over bought could be dismissed. Fundamentally, the Swiss must hold down the value of the Swiss Franc vs. the Euro (and to a lesser extent the USD), to keep their economy from going into recession, since their economy depends on exports and a Higher Swiss Franc makes their exports more expensive outside country. The only practical limit on the amount of swiss francs the Swiss can print is internal inflation, and that is very low at 1.4%, so they can really print all the Francs necessary to hold their exchange rate down.
Additionally, a visual inspection of price action over the last days, weeks, months and years indicated the USDCHF was in a sustained up trend from a very low point. So that is the story I put together for the USDCHF. If the pair did not move according to my belief about it, I would first exit, because logical thinking is impossible while a position is still on, then I would either revise my story or toss it completely and create a new one as needed.
Let me know if any of this is unclear, OK?
OK, good, do you have a second lot on UCHF now? Did you take the eu trade also?