Aliassmith Beats a "Dead Horse"

[stu]

GBPJPY looks a possible contender for this too....6 winning trades today so far (I didn't take) and no loosers. EU doesn't seem to behave so well.

[LeMercenaire]

Today's EA move.

I was out-and-about all day, so not traded by me. I have no idea what that was off to the left, lol.

EURAUDM15asDeadHorseToday-NotTradedJune23rd2020.png (58.22 KiB) Viewed 2548 times

[LeMercenaire]

GBPJPY looks a possible contender for this too....6 winning trades today so far (I didn't take) and no loosers. EU doesn't seem to behave so well.

Cable had a great move at 13:00 uk (US Open) - triggered on 15-min chart.

[LeMercenaire]

Saddled up overnight and just put the horse back in the barn now.

Actually had missed the entry but got on board when price revisited the level here.

All good.

US100onDeadHorseForAnOvernightRide23rd-24thJune2020.png (37.96 KiB) Viewed 2495 times

Out

US100M15asAliasDeadHorse-JustClosedOut23rd-24thJune2020.png (47.39 KiB) Viewed 2495 times

An actual, genuine, rare-as-hens'-teeth, set-and-forget trade for me. What's the world coming to?!

[stu]

Saddled up overnight and just put the horse back in the barn now.

Actually had missed the entry but got on board when price revisited the level here.

All good.

US100onDeadHorseForAnOvernightRide23rd-24thJune2020.png

Out

US100M15asAliasDeadHorse-JustClosedOut23rd-24thJune2020.png

An actual, genuine, rare-as-hens'-teeth, set-and-forget trade for me. What's the world coming to?!

I've been noticing your Fib SL isn't always at the main swing high/low....it's sometimes a wee bit closer to the entry. Is it set by feel, or are you tagging it onto something else...possibly under/upper side of S/D zone?

[LeMercenaire]

Saddled up overnight and just put the horse back in the barn now.

Actually had missed the entry but got on board when price revisited the level here.

All good.

US100onDeadHorseForAnOvernightRide23rd-24thJune2020.png

Out

US100M15asAliasDeadHorse-JustClosedOut23rd-24thJune2020.png

An actual, genuine, rare-as-hens'-teeth, set-and-forget trade for me. What's the world coming to?!

I've been noticing your Fib SL isn't always at the main swing high/low....it's sometimes a wee bit closer to the entry. Is it set by feel, or are you tagging it onto something else...possibly under/upper side of S/D zone?

I set it on the higher time frame.

[stu]

Ok....first experiment with Suggestion of Billy on how to compound. Was freestyling it so arbitrary second open & I fumbled my close, however can see how the concept could work well with a bit of discipline.

I entered on this due to the M5 pin bar and price looking like it was for breaking the previous momo close.

GBPUSD.sbM5202006_1255.png (17.55 KiB) Viewed 2468 times

Edit : to clarify the compounding part....I was just having a first go at part of the mechanics once I had BE locked in. I'd have needed 2 orders opened originally to do it properly as I understand it i.e. at first target close one order, set the remaining one to BE, and open another order with SL a pip or 2 on good side the existing BE price, and see where she runs. Additional targets can be incorporated as price moves

[imparare]

Ok....first experiment with Suggestion of Billy on how to compound. Was freestyling it so arbitrary second open & I fumbled my close, however can see how the concept could work well with a bit of discipline.

I entered on this due to the M5 pin bar and price looking like it was for breaking the previous momo close.

GBPUSD.sbM5202006_1255.png

Edit : to clarify the compounding part....I was just having a first go at part of the mechanics once I had BE locked in. I'd have needed 2 orders opened originally to do it properly as I understand it i.e. at first target close one order, set the remaining one to BE, and open another order with SL a pip or 2 on good side the existing BE price, and see where she runs. Additional targets can be incorporated as price moves

I still not getting the compound part, and you please explain. Thanks.

[stu]

X

[stu]

Ok....first experiment with Suggestion of Billy on how to compound. Was freestyling it so arbitrary second open & I fumbled my close, however can see how the concept could work well with a bit of discipline.

I entered on this due to the M5 pin bar and price looking like it was for breaking the previous momo close.

GBPUSD.sbM5202006_1255.png

Edit : to clarify the compounding part....I was just having a first go at part of the mechanics once I had BE locked in. I'd have needed 2 orders opened originally to do it properly as I understand it i.e. at first target close one order, set the remaining one to BE, and open another order with SL a pip or 2 on good side the existing BE price, and see where she runs. Additional targets can be incorporated as price moves

I still not getting the compound part, and you please explain. Thanks.

Hi - my previous reply didn't seem to post, so trying again.

Ignore my chart. Imagine you have a buy trigger, you would need to enter with 2 separate buy orders.
When a target is reached, close one order and move SL of other to BE AND open another buy order, placing its stop a couple of pips above the BE of existing order. If price goes against you, you have made a couple of pips, but if it continues to rise then you are doubling your earnings. That's my current understanding of it anyhow.