hmmmm, price not moving up!! 
Nope.
This is not a strategy for the impatient!! It could take it days to move up to the take profit area! :eek:
Youāll drive yourself nuts if you stare it. Trust me, I know from experience. 
Iāve got an alarm set to go off at +70 pips so I can change my stoploss, and another to tell me if it stops out and the short trade opens. Unless those alarms go off (or someone says itās not moving up) I donāt look at.
Iām in front of the office computer, and checking it every 10 mins on a 4 hours chart?! 
haha!!
I wanted to enter trade today, but the igmarkets somehow got my account suspended.
Is it movinā up enough for you now?? 
Right after I post this it will probably bottom outā¦ it never fails. At least itās a breakeven now.
OMG!!! Why did igmarkets have to suspend my account?!!?!? I have to wait for next week!!!
This trade is moving up fast guys!!! If you can be around to watch it Iād suggest not automatically taking your profit at 234 pips. It might blow straight up through there and you could end up getting an extra 10, 20, or even 100s of pips out of this thing.
Or it could turn around and hit breakevenā¦ Donāt get too excited yet
Just donāt be tempted to let it retrace below the profit target, hoping it will go back up even higher. This system depends on a small number of huge wins to be successful, and if you let a win slip away it might take you a while to recover your losses.
there seemed to be a resistance line at 1.6669 on the 30 Oct 2008?
Hi s050399b
I see you are using IG Markets, same broker as mine.I would be interested to know if you are having the same problem as me regarding ATR on the weekly. Please refer to my post 29. MY ATR currently reads 568 settings are 14 applied to close. For some reason they dont match others posted on this thread
Good luck to all those in todays trade i didnt take it but according to my feed, price just missed PT by a few pips. fingers crossed that it will get there soon
I hate it when that happens, but my backtesting and live results are all based on mechanical entries and exits, so if this turns out to be a loser thatās ok. Weāll still profit in the long run.
But for those not trading strictly mechanically, if it had missed the TP by a couple pips on a Thursday, or maybe even a Wednesday, I would have closed the trade out after giving it about 50 or so pips to go back up. But since today is Monday and we have a whole week for it to move back up Iām still in.
Iāve been thinking about your ATR problem, Nutrader, but still donāt have a clue whatās wrong. Your ATR still shows 20% less than mineā¦
Hi Nut Trader,
My account was suspended when I tried to add a credit card for it to bill it to. Anyways, I used phil838ās for ATR(14).
I believe different broker has different spreads and that might have something to do with it?
Wonder whats going on now, the volume is like so low; price is like totally flat. Are they pending for news? Or?
I assume that you people are either using non-US based brokers or have set up 2 accts with the same broker as when I went to enter the setup last night on IBFX they said āHedging Not allowed.ā I know for a fact that Oanda has never allowed hedging and insisted on 2 accts. Not sure I want to dilute my margin between 2 accts. Comments?
The real solution in my opinion is for MT brokers to program a āOne Cancels Otherā whereby if a long for instance is entered, the short would be cancelled immediately. Might take permission from the mighty NFA. MB Trading in the past had this type of order entry but I donāt know if they can allow it now. Thanks NFA.
I uses pending orders on Oanda for this system. Itās not a hedge because the long and short trades arenāt open at the same time. Oanda letās you put pending orders for both trades in with no problem. Iām not sure why IBFX doesnātā¦
And you donāt necessarily want OCO orders for this system. Depending on the how much of the weekly range was used up on a losing trade you may want to go ahead and open the opposite trade when the first stops out.
If the long trade triggers, goes up 20 pips, then reverses and gets stopped out youāre going to want to enter the short trade. But if the long trade triggers, misses the TP by, letās say 4 pips :mad::mad::mad:, then youāre not going to want to take the short because a good chunk of the daily range is already used up.
Also, I hate to admit it, but I just tried to test the hedging problem on my IBFX demo and I had no clue if I wanted a ābuy limit,ā ābuy stop,ā or whatever else they were calling itā¦ Been a full time forex trader for over a year now and I canāt place a pending order in MT4ā¦
What do you mean [I]āyou people?ā[/I]
For those of you that havenāt seen the movie āTropic Thunder,ā itās a jokeā¦
I just need something to keep me smiling since the trade that would have increased my account 13.4% missed by 4 (out of 234) pips!!!
I have no clue, but somehow Iām failing to follow my own advice and I canāt take my eyes off this one after the near hit a few hours ago.
Have I mentioned it missed by 4 pips!!!
hmmm, iām going to look for the website Nick said to look is thereās any news pending. I forgot to bookmark it when I read that in the pdf.
Just found out itās a bank holiday in Switzerland, France, and Germany. That may account for some low volume.
Plus this behavior really isnāt abnormal. Sometimes the markets just donāt move.
Iām out guys!! It got within 2 pips of the TP and started back down again, so I closed out.
If youāre still in, donāt worry! We have a whole week for it to come back up 40 pips. Iād be really surprised if it doesnāt make it.
If youāve been watching this trade I promise they arenāt all so stressful. This is usually a pretty good set-it-and-forget-it system. Iāve never had it come within a couple pips, back off for 6 hours, then come within a couple again without hitting before.
Iām off to bed. I hope some of you got (or will get) some pips on this one!
Moved this message to another thread as this is about Sunday Breakout.
After this one went positive, I set a trailing stop, went to bed, and stopped out at +92 pips - 2 lots for a total of +184 pips - spread. Nice return for 15 minutes of set up:D
Phil any luck on back-testing the Thursday set up? I dont know if you can name it after me - Iām only a newbie!!! Thanks