2009.03.17 TRO - NEVER LOSE AGAIN!!
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Thanks for the answer. My questions were meant to start a discussion as to when to go long or short.
Thursday morning, on the GU, this would have been unfortunate. I would argue that it is preferable to go long instead of short, depending on the 'steam' behind the movement. The GU required 7 hours for the 3 semafor to repaint before it finally found its top. On the chat is was also confirmed that it can be quite painful doing what you said above.
My point is that this statement is relative to the position taken, where the latter is not really clear.
How could one determine which direction to trade after a (3) semaphore on H1 ?
pierre23 wrote:If you see a 1, 2 or 3 with the semafor at the BOTTOM of a candle on the H1 chart, switch to your 15min and enter LONG at the lower trigger line (light blue dotted line). Vise versa for a short trade - you see a 1/2/3 ABOVE a candle on the H1, on 15min enter short at the upper trigger line (purple dotted line).
Thursday morning, on the GU, this would have been unfortunate. I would argue that it is preferable to go long instead of short, depending on the 'steam' behind the movement. The GU required 7 hours for the 3 semafor to repaint before it finally found its top. On the chat is was also confirmed that it can be quite painful doing what you said above.
"price moved against me" eg. I have a long position and price is going against me; it's moving downward.
My point is that this statement is relative to the position taken, where the latter is not really clear.
How could one determine which direction to trade after a (3) semaphore on H1 ?
- TheRumpledOne
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How could one determine which direction to trade after a (3) semaphore on H1 ?
Easy, If on the H1 chart price is moving up and you get a 1,2 or 3 you are looking for a short at the trigger line on the 15 min chart, if price is moving down and you get a 1,2 or 3 on the H1 chart then you are looking for a long at the trigger line on the 15 min chart.
"What if you get a 1,2,3 at the top or bottom and you switch to 15 min chart and price has already passed the the trigger line"
When you see a 1/2/3 form price won't have passed the trigger line yet. It's dynamic, when a new 1/2/3 forms I'm pretty sure the trigger will re-adjust. As well as what tro said, have both charts up at the same time for quick access =]
"Thursday morning, on the GU, this would have been unfortunate. I would argue that it is preferable to go long instead of short, depending on the 'steam' behind the movement. The GU required 7 hours for the 3 semafor to repaint before it finally found its top. On the chat is was also confirmed that it can be quite painful doing what you said above."
How many cases will you get of a '3' continually being shown for new levels of high over 7hours.. As well as you should have your stop loss in place as per your money management rules. This was all stated on the first post.
Also; you don't have to enter at every chance you get.. you're then just begging to have a loss, whether it be larger or smaller then your previous profits.
I have been watching the charts here at work for the past few hours and I've seen multiple times for decent profit if I had entered when the alerts came up. There were 2-3 alerts within the past 1-2 hours - all 3 good for at least 10pips.
Last edited by pierre23 on Fri Mar 20, 2009 2:24 am, edited 1 time in total.
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marcromero wrote:
How could one determine which direction to trade after a (3) semaphore on H1 ?
Easy, If on the H1 chart price is moving up and you get a 1,2 or 3 you are looking for a short at the trigger line on the 15 min chart, if price is moving down and you get a 1,2 or 3 on the H1 chart then you are looking for a long at the trigger line on the 15 min chart.
I see where he's coming from - I think he means when a '3' is formed, most of the time price will keep pushing it until it runs out of 'steam' and heads back the other way. Therefore if your at the charts and you see a '3' pop up, personally I would wait a bit.. until you can see price heading back down at least. OR you could enter as per the original rules and use your money management and SL to not lose too much IF the price does continue rising or falling; pushing that '3'
- TheRumpledOne
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If the candle is pushing the 3, just sit back and watch. Don't be in a hurry to rush in.
If the candle closes and it hasn't crossed the trigger line, there may be more gas in the tank and price will continue in the same direction.
But if you look at the charts, you'll see there's money to be drained from the banks.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
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