Daily Only Currency Charts

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trojoh68
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Re: Daily Only Currency Charts

Postby trojoh68 » Wed Jul 10, 2019 3:32 am

LeMercenaire wrote:I'm Long on CJ. Entry on the H4.


I think that I see your set-up.
Do you have a target in mind?

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aliassmith
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Re: Daily Only Currency Charts

Postby aliassmith » Wed Jul 10, 2019 2:56 pm

Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02

The advantage with this is you will be able to close orders when you want without FIFO
being and issue.

Now that you are using different order sizes you would be able to scalp around long timeframe
trades. If you took a trade off of the Daily chart and you see something in the same direction
on the 15 minute timeframe you can trade that short timeframe trade and leave your longer trade
run.
Trade Your Way as Long as It Makes Money!

trojoh68
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Re: Daily Only Currency Charts

Postby trojoh68 » Thu Jul 11, 2019 2:04 am

aliassmith wrote:Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02

The advantage with this is you will be able to close orders when you want without FIFO
being and issue.

Now that you are using different order sizes you would be able to scalp around long timeframe
trades. If you took a trade off of the Daily chart and you see something in the same direction
on the 15 minute timeframe you can trade that short timeframe trade and leave your longer trade
run.



Very good to know. Thanks alias!

forexjpn
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Re: Daily Only Currency Charts

Postby forexjpn » Thu Jul 11, 2019 3:45 am

aliassmith wrote:Tip:

One advantage of Currencies is that multiple orders are not averaged together.
To take advantage of this and get around FIFO put multiple orders in with different sizes.

So order 1 would be 1.00
order 2 would be 1.01
order 3 would be 1.02


I don't have that problem here in Japan, but.....so simple yet so brilliant!

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LeMercenaire
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Re: Daily Only Currency Charts

Postby LeMercenaire » Thu Jul 11, 2019 11:14 am

trojoh68 wrote:
LeMercenaire wrote:I'm Long on CJ. Entry on the H4.


I think that I see your set-up.
Do you have a target in mind?


Sorry, just saw this. Yes I have set a fixed target and SL as I am on holiday and not logging in to the trade computers.

I have no idea what the trade has done. I'll probably be able to check it tonight or tomorrow at some point.

Once I do that, I can walk through my thought processes on it.

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trojoh68
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Re: Daily Only Currency Charts

Postby trojoh68 » Mon Jul 15, 2019 2:30 am

What I'm watching for this week. I'm looking for price to retrace to the shaded areas and will watch the price action on a lower time frame.

Image

Image


This one may already be running away.

Image

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