Swing trades, set up usually every week. If something drastic happens in the markets, which seems to happen often these days, we may get several set ups in a week. They run days and occasionally weeks.
Position trades, set up about one a month. The average length of the trade runs about 6 months. The longest I’ve held is about two years.
There are many ways to enter these trades. Tymen’s CBL is just the best I’ve found, so far.
I use a 15 min stoch filter on my trades. So I only take the trade if the 15M stoch fast line is over the slow line in the direction of the trade. That keeps me from entering a trade that has a major reversal bubbling up from below.[/QUOTE]
I’ve to admit these few months i have learnt so much about forex, the techniques and entries, exit that im baffled.
I sincerely wish to express thanks to all whom have contributed greatly to graviton and tymen’s thread. Without the participation of the masses I believe we all would not have achieved as much as we did today.
I’m real sorry of not contributing as I just finished my exams in may and after which start catching up the remaining of the thread.
It’s been an awesome journey and I hate to say, that it’s coming to an end soon.
Graviton, thank you for your patience with newbies like me. I’ve never seen anyone who got to the lengths just to clarify a little tiny bit of details. I’m glad to have know you.
If an extreme candle touches the outer BB, check to see the trend of the daily chart. If it’s setting up a CBL in the direction of the daily chart trend, good. If the weekly chart trend is in the same direction, better, but not necessary.
:eek:
Is this the grail?
Go over some charts over the last 4 weeks and see how many entries there are, how many losers, how many pips were on offer, and how little time you would need to spend to catch them.
What you guys and gals think? Going short on GBP/NZD using CBL on the daily (sell at price 2.1300). Weekly trend is down. I did this yesterday on the 4hr and made 2 hundered pips. Exited 2 lots as the mid BB was going aginast the trade at mid BB point.
The doji I was speaking of is located on eurusd H4 at 12:00 on May 25 2010 on my chart market time. It would be right at the bottom of the swing touching the outer BB.
Watch audcad for a set-up today on H4, maybe. H1 is good now if you want to get in early and try to walk up to H4, but only if H4 sets a good CBL, otherwise settle for small pips off H1.
Looks like now H1 might form a new extreme, so patience will be advised on this trade for now. The M15 Stoch filter puts a temporary hold on this one for now anyway.