Great you mention this point. Can you examplify with charts your "i knew from the way that the 1-4r bars were forming that there was going to be a good chance for good movement in the asain/euro session and the start of the us session"
It can give us a great idea of future movements and probably take some time for procrastination.
I also thought you were based in Europe as you trade Eur and NY mostly.
Cheerses/pip wrote:aliassmith wrote:es/pip wrote:aliassmith wrote:es/pip wrote:aliassmith wrote:es/pip wrote:aliassmith wrote:es/pip wrote:aliassmith wrote:Stage 1: 1 lot at 1.6312 58 pips
Stage 2: 2 lots at 1.6297 73 pips
Stage 3: 4 lots at 1.6288 82 pips
and out at MZ of 1.6370 about 15.5%
This is how I build a position using the H1 charts
what was the 1st entry at 1.6312 based on?
I build my position with stage 1 being placed at the open of the next candle after a momo candle. That takes care of when the price just breaks and runs like hell. Stage 2 is at the 50% level of the momo candle and Stage 3 is at the 75% pull back of the momo candle.
It makes it easier for me to get into a position without worring if I am entering correctly. I developed it when Mightyone told you to break your order up.
i was just wondering why you would enter in the place that you did on the first one
there is not really a right or wrong---- i was just curious
I am attaching another chart with a stage 1 and 2 position. If stage 3 was filled the order would have been worth 9.5%. Since stage 3 was not filled it was worth 3.3%.
How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method. Currently I only trust H1 since it is the highest timeframe that is the same for everyone in the world. Maybe I can work the lower timeframes, I'll have to research it.
ZL is at 1.6490 looks like I cut it off with my croping.
not sure i follow you
can you rephrase
"How long do you trade with your method? I am going to study it more to see if there is an advantage (time wise) to your method."
i use h1-the monthly charts for my higher timeframes
to post your charts
save the pic as something then go to tinypic.com and upload it then paste the img tag in the body of the message --- it is a lot easier and u do not have to crop anything
I guess that was worded akward. I was just asking how many hours per day do you spend trading?
usually 12-16 ish
it is always different--- but i start out committed to trade at least the first 3 hrs of asian, london and us sessions----- then depending on how much movement there is will result if i continue to sit here.
but, i also have a roll away cot in my office just in case--- everyone i know thinks i am nuts----
you are nuts, just playing Well If you spend that much time then I don't think I'll change what I am doing to much then. I figured I will have to spend about that much time also. I was hoping you was only spending about 4 hours a day and I was going to figure out how you trade
at the same time it just depends on what you want out of it
with the right money management there is no need to make 100-200 pips a day
it just depends on how things look
some days i trade all 3 sessions---
some days i sleep thru the euro session
some days i dont trade the us session
today i stopped at 11 am est
i knew from the way that the 1-4r bars were forming that there was going to be a good chance for good movement in the asain/euro session and the start of the us session
i was just saying that since there was momo present that there should be some good movement following