open trades:
sold NZD/JPY @ 75.397 SL: 75.516
Yes I know, thatās not what I meant. I am asking how he did it. I want to apply it to another system I am using and I donāt know how to create those objects.
Thanks
Abrsive,
I see retracement might happen on some trades today? How do you normally manage your SL when you expect your trade to retrace? Do you take profit manually when you see retracement? Or, you still let the trade goes as it is and wait for it to go your direction again?
I feel helpless when I see the price starts to go against my direction after a day of smooth nice gain, and donāt know how and what to do about it - I donāt know whether to close my trade to take some profit or just leave it. Most probably I am lack of experience.
So, I hope you can give me some advice on what you would do about this with your experience.
Thanks.
[QUOTE=āJesdan;502370ā]
Abrsive,
I see retracement might happen on some trades today? How do you normally manage your SL when you expect your trade to retrace? Do you take profit manually when you see retracement? Or, you still let the trade goes as it is and wait for it to go your direction again?
I feel helpless when I see the price starts to go against my direction after a day of smooth nice gain, and donāt know how and what to do about it - I donāt know whether to close my trade to take some profit or just leave it. Most probably I am lack of experience.
So, I hope you can give me some advice on what you would do about this with your experience.
Thanks.[/QUOTE]
This is where you need to personalize the system to your personality as a trader. I would say that if you trade the daily, you āshouldā find a way to let your trades run for longer than a day. Managing these trades is the difficult part.
I did not even get to look at how my trades were doing last night, so my stops are unchangedā¦ and Iām ok with that. Micromanagement is a problem for me. I would try and move my stops towards my trade using sup/res levels as protection against retracementsā¦ If those levels are broken, then Iām out.
You can also develop a more mechanical rule based approach, like the one already laid out for the 4h. You obviously have to adapt these numbers to the daily TF. 30 pips will not be enough though.
I recommend you study the matter, and do whatās comfortable for you. Also, keep in mind that whatever approach you go with, you should treat your losers with the same idea.
Good luck
Appreciate very much for your reply.
I remember that you also mentioned about placing SL near the close of daily candle (Do you mean previous candle?). In what situation you would place your SL at that point? Is it during your initial entry to the trade?
Guys Iāve got a question. I spread bet the forex markets. In the system it is said to put your SL at 100 pips away. In my case on some currencies thatās 1000 points away. Is that correct? And also it is mentioned that the bar should close above or below a S & R line by 30 pips. In my case that should be 300 points right?
Yes that is correct. For example on IG EUR/USD 13125.[B]X[/B] would be equal to a [B]X[/B]/10 of a pip. Whereas EUR/USD 1312[B]X[/B].0 would be a equal to a pip.
Thanks for clearing that up 
Can we get this thread busy again. Would like it if everyone could all post and help each other on our trades. If we can get a nice group of consistent users we can fingers crossed perfect it! Letās keep it pipping
want to confirm some things before I take this possible trade at the open of the next candle
- closed above 200 MA
- Above super trend
- above s&r
Iāll do what I can to help. Just starting up looking into this method/thread. I added a variation of my own that Iām playing with. Up 11% in two weeks of use on 8 trades. Iād like to put up some more trades before participating more but will do my best.
EJ
what im finding is that I could jump in onto a lot of trades. maybe 4-5 a day. that shouldnāt be the case right?
What timeframe and pairs? Iām usually looking between 1h, 4h, and 1d. Right now looking at only 4 pairs.
Iām looking at all pairs in the 4 tf. Iāve been getting hammered this week. My good trades have been ****ty profits and losses have all more or less been triggered by the SL. Can you please forward me the additions that youāve included?
Took the following sell trade G/U at 1 p.m. EST, on June 26, 2013. But am not sure whether this trade follow the rules.
I would greatly appreciated your comments.
why not sure? you have to be sure at this point 
From what I can see
- closed below 200 day MA
- closed below super trend
So your trade should be valid
h4 tf<ā¦?
Yes 4HR TF.
i am trying this system aswell but it seems it needs alot of ābreathingā space.
Anyone tried it on a weekly chart as a backtest? I donāt have a weekly backtest possibility on w1 charts 