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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 13, 2008 9:22 pm

Can you post the entire chart so I can see the currency and the price?

I can't tell a thing from that chart.
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Manwalker
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Postby Manwalker » Thu Nov 13, 2008 10:59 pm

The Red and Green boxes in the background are the 1 hour candels body.
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The Red lines are the grid lines 25,50,75..
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When it occurd Price in the picture went down and hit the grid line.

1 hour candel color was red and we have get a sell signal.

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but the price went not much enough in sell direction and i dont know what to do when to exit, because:

- price can fall next seconds in my direction


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And I dont no what to do the best, close sell order and then open buy, but also not good because often i have make it and loss to much from to often chaning direction.

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//------------------//
What I need are:
//-----------------//

# fixed stoploss how much i always will risk without much thinking
# exit rules when will i take profit when will i close trade, after a special time, or after wich rules, pattern formationen ....?

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the only think that clear is to me is the entry when 1 hour candel is red and price hit grid line and maybe use other Filter D1 candel color, the entry seems be clear.

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but the rest i dont have a feeling what to do, but that is the most popular problem like it seem to be to me.


What would you say wich rules would you use after you are in the trade and order is open, sorry but intuotion is not good I think I need rules my emotions are not good :(

I hope the bit chart in the picture is enough for you to give a tipp or did you look more in the past what the price have make, I have took this picture now just for example I even dont know anymore from wich date i took it, but always this same problem happens. In this example the price maybe have also move 2-3 Pips in sell direction, but often it went not more then 1 Pip in my direction or it also that happen so fast that I dont can make a deal with my broker.

Problem when to exit.
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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 13, 2008 11:16 pm

Well, it looks like you went short at the red line and then price stalled around the line.

You could have exited with a tiny profit or at breakeven or with a small loss.

I have no idea what time of day this trade took place.

Next time please post a large chart so I can see prices and times otherwise, I can't help you.
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Postby pierre23 » Thu Nov 13, 2008 11:36 pm

I have been using this "horizontal line" strategy at the start of quite a few hours last night.. it DOES work.. although you WILL at some stage have price cross a line then reverse on you... if you see price stalling, take your small profit/cut your losses and let it be.

Also, I find looking at the D1 helps, if its in favor with your direction you know theres more chance of your H1 candle continueing.

I am testing a M1 scalping strategy using some squigglies (3 sets of Bolinger Bands) which I find is extremely effective... So I look at the 1min to see where price is at, and based on the strategy if it SHOULD keep going in my favor or not.. to help me determine my H1 trade.

I've only been combining that M1 Scalp strategy for confirmation and horizontal line for entry only on the GBP/JPY currency (because its one of the more volatile pairs). And using JUST horizonal line entry in favor with candle colour for most other currencies, which has been profitable.

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Postby Manwalker » Thu Nov 13, 2008 11:49 pm

Thank you for your tipps pierre, I think i will trie them too.

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Postby BlowFish » Fri Nov 14, 2008 11:15 am

Quote
___________________________________________________________
DAY BORDERS is the name of the indicator. I also posted a TRO modified version of it.
___________________________________________________________


Well I had a thorough search for this baby (really I did) and it still eludes me. Any chance you might post it RO?

Thanks.

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 14, 2008 1:51 pm

DAY BORDERS is in the MT4 MOTHERLODE 200809.

I suggest you download ALL of the MotherLodes, IN ORDER!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 14, 2008 5:07 pm

Image

I just made a quick 9 pips shorting the GBPUSD to show that this works on any pair.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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BlowFish
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Postby BlowFish » Fri Nov 14, 2008 7:43 pm

TheRumpledOne wrote:DAY BORDERS is in the MT4 MOTHERLODE 200809.

I suggest you download ALL of the MotherLodes, IN ORDER!


Thanks, I thought I had but figured I must have missed one. Wierd I actually remember getting September must have screwed up some where wouldn't be the first time and I'm sure it wont be the last.

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TheRumpledOne
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Postby TheRumpledOne » Fri Nov 14, 2008 9:13 pm

Image

WHAT A GREAT SHORT AT 0.6650
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