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bredin
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Postby bredin » Fri Mar 12, 2010 11:27 pm

Unless it has to do with the fact that the first point occurs in the 3rd hour, and the 2nd point happens in the 2nd hour, altering the effective angle of the trendline....

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newschool
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Postby newschool » Sun Mar 14, 2010 6:00 pm

The trendline tool doesnt matter, I draw mines by hand too.

Even if price movement looks similar in both charts, its more different than you think.
EDIT:Heres a mathematical point of view on it, the angle of the slope is different in each timeframe. Why? When you go into a lower TF, you add more candles, thus "stretching" the price movement.
Attachments
w1 slope.PNG
w1 slope.PNG (8.2 KiB) Viewed 144 times
d1 slope.PNG
d1 slope.PNG (5.04 KiB) Viewed 145 times
Last edited by newschool on Mon Mar 15, 2010 12:45 pm, edited 1 time in total.

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Postby tmanbone » Mon Mar 15, 2010 3:06 am

Thanks Newschool.

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Looking for bounce or break.
"The simplicity of the markets is it's greatest disguise"

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Postby newschool » Mon Mar 15, 2010 12:53 pm

tmanbone wrote:
I don't understand why the daily and the weekly trendline would be different. Does anyone know why? I'm also wondering if I were to trade multiple lots, let's say I put in a limit to buy 5 lots at X price, and I wanted to cash in on 3 of those 5 at another price to lock in profits and reduce risk, would I simply put in a limit sell for say 3 lots at X price and let 2 ride. My question is will a limit sell cash me out of 3 of my five lots? Thanks,


That's called hedging... it will be "virtually" close, but not in reality.

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tmanbone
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Postby tmanbone » Tue Mar 16, 2010 4:28 am

newschool wrote:
tmanbone wrote:
I don't understand why the daily and the weekly trendline would be different. Does anyone know why? I'm also wondering if I were to trade multiple lots, let's say I put in a limit to buy 5 lots at X price, and I wanted to cash in on 3 of those 5 at another price to lock in profits and reduce risk, would I simply put in a limit sell for say 3 lots at X price and let 2 ride. My question is will a limit sell cash me out of 3 of my five lots? Thanks,


That's called hedging... it will be "virtually" close, but not in reality.


Newschool I need a lesson on how to enter multiple lot trades, dropping off half at x price and letting the rest run. My question: If trading 4 lots, should I break this entry order into 2 lots of 2 so I can drop off two at x, or can I enter all 4 with 1 order and drop and drop 2 at x? Thanks,
"The simplicity of the markets is it's greatest disguise"



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newschool
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Postby newschool » Tue Mar 16, 2010 9:47 pm

tmanbone wrote:Newschool I need a lesson on how to enter multiple lot trades, dropping off half at x price and letting the rest run. My question: If trading 4 lots, should I break this entry order into 2 lots of 2 so I can drop off two at x, or can I enter all 4 with 1 order and drop and drop 2 at x? Thanks,


Are you refering to my screenshot of multiple sell orders on AUD/USD?

I average up to limit my risk, but to have the same kind of profit. If you enter 4 lots directly, and you have a 20SL ,you risk 800$. But if you enter 2 lots, and then you see the trade is going your way, you have 3 advantages :

1. you only risked 400$
2. you can enter another 2 lots and be protected by the profit of your first trade. Wich means that if you suffer a pullback, you can breakeven.
3. you cleared your margin so if you have a low account you can trade more lots than it was possible with only 1 entry.

I believe this method suits me well because I play price movement and momentum. So if I am lucky enough to catch the beginning of a big trend, I can average up more easily than someone scalping or someone trapped in a slow market.

I don't have a particular strategy for the exit. Usually I close all my positions at the same time with the blubb's script.

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Postby tmanbone » Tue Mar 16, 2010 10:22 pm

newschool wrote:
tmanbone wrote:Newschool I need a lesson on how to enter multiple lot trades, dropping off half at x price and letting the rest run. My question: If trading 4 lots, should I break this entry order into 2 lots of 2 so I can drop off two at x, or can I enter all 4 with 1 order and drop and drop 2 at x? Thanks,


Are you refering to my screenshot of multiple sell orders on AUD/USD?

I average up to limit my risk, but to have the same kind of profit. If you enter 4 lots directly, and you have a 20SL ,you risk 800$. But if you enter 2 lots, and then you see the trade is going your way, you have 3 advantages :

1. you only risked 400$
2. you can enter another 2 lots and be protected by the profit of your first trade. Wich means that if you suffer a pullback, you can breakeven.
3. you cleared your margin so if you have a low account you can trade more lots than it was possible with only 1 entry.

I believe this method suits me well because I play price movement and momentum. So if I am lucky enough to catch the beginning of a big trend, I can average up more easily than someone scalping or someone trapped in a slow market.

I don't have a particular strategy for the exit. Usually I close all my positions at the same time with the blubb's script.


What I'm trying to figure out is if I were to buy 4 lots in 1 order, could I put in a sell at x price and drop 2 lots off for a profit and let 2 run or would I still be 4 lots long but also be 2 lots short/hedged at the same time?

I'm looking to trade 4 lots, all in on the first order, drop 2 for a quick gain, and let 2 run, or possibly trade 4 lots all in on first order drop 2, then drop 1 , then drop the last one.

Looking at your AUD/USD trade, I figured you had scaled in on those sell orders. I'm interested in figuring out the best way to go all in and scale out where you scaled in. Thanks,
"The simplicity of the markets is it's greatest disguise"



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Postby newschool » Tue Mar 16, 2010 10:35 pm

tmanbone wrote:
What I'm trying to figure out is if I were to buy 4 lots in 1 order, could I put in a sell at x price and drop 2 lots off for a profit and let 2 run or would I still be 4 lots long but also be 2 lots short/hedged at the same time?



Instead of waiting 2 days for the answer on kreslik you could have tested it on a demo in 2 seconds ;)

I tryed on MetaTrader and I don't think you can make a pending partial close. You probably need to make a hedging wich will virtually close your trade, like we talked about before.
Last edited by newschool on Wed Mar 17, 2010 12:53 am, edited 1 time in total.

Brookmyre
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Postby Brookmyre » Wed Mar 17, 2010 12:27 am

Hey Tman,

I believe newschool is correct. You can close part of a position manually but I don't think theres a way to set up a pending partial close. So you would have to enter your 4 lots as 2 of 2 and do them separately, unless theres a script or ea that can work around that perhaps?
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tmanbone
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Postby tmanbone » Wed Mar 17, 2010 2:19 am

Brookmyre wrote:Hey Tman,

I believe newschool is correct. You can close part of a position manually but I don't think theres a way to set up a pending partial close. So you would have to enter your 4 lots as 2 of 2 and do them separately, unless theres a script or ea that can work around that perhaps?


Thanks I appreciate yours and newschools help, newschool that's what I was driving at I've tried to figure it out on demo and can't as of yet. You could probably do this on Ninja. Thanks again.
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