The action was good until it tried to cross xxx.00 line and then it reversed...
Do you think in this case is a good idea to avoid entering until a nice bullish candle closes above DP?
Wish i had put TP a little below xxx.00 but didn´t.
Guess that would save us from some treacherous trades such as this one, and of course would make us enter a bit later in good moves as well...
Oh well, another hard lesson earnt.
nanningbob wrote:eur/jpy back into the trend day 2. Didnt take yesterday, a little early on that one so better setup today.
Dummy bar green
just hit the 20 line.
DP above it
Ready for some action today.
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pg2205 wrote:Once again Bob you continue to share your outstanding work with this new version of 10.6! BRILLIANT!!!!!!!!!!!!!!
This should cover it for all types of trading. You have a clearly defined trend, range, and reversal areas. Take profit and SL areas. It is all there just need to get good at it. You know when you are violating the basic rules with those big color bars going on your screen. Cant miss those babies. Should leave your interpretation of the market to a consistent and profitable level. We will see how it all plays out.
That has been my biggest problem in trading, I can get in with a nice entry as per the rules, but taking profit is my problem, or getting out when the trade just doesnt look right. I'm getting much better with your guidance Bob.
Thankyou!
Hi, this has been my problem too, I have been green on my trades but not closing them on the right time and letting them turn to red. Bob always says that he takes whatever the market gives him, and closes the trade after the initial move. I am still struggling on this because the initial move always seems too soon on 4H charts and I stick with the trade longer than I should...
Right now I have several open trades, all in red and all have been green at some time...little bit frustrating.
I took my profit just before the xxx.00 line and then placed a new pending above the line. It didnt break through so I pretty much got the max on that one. I got 32 pips. One of the most discouraging things in trading is to let a profitable trade turn into a non profitable trade. I am having a good day with 14 winning trades so far but only 2 have been bigger than 50 pips. I see profit I grab it and reset the pending above the next line. I trade line to line while the market is choppy or ranging. 454+ so far today. I am a singles hitter. I often get sneered at by so called big traders but they can sit on a trade and try to get 100, 200 or more pips on a trade but that is very hard to do. I found out I can constantly take those 20-50 pip moves and they add up quickly. I am not out of big moves either because if it breaks xxx.00 it will most likely continue.
nanningbob wrote:I took my profit just before the xxx.00 line and then placed a new pending above the line. It didnt break through so I pretty much got the max on that one. I got 32 pips. One of the most discouraging things in trading is to let a profitable trade turn into a non profitable trade. I am having a good day with 14 winning trades so far but only 2 have been bigger than 50 pips. I see profit I grab it and reset the pending above the next line. I trade line to line while the market is choppy or ranging. 454+ so far today. I am a singles hitter. I often get sneered at by so called big traders but they can sit on a trade and try to get 100, 200 or more pips on a trade but that is very hard to do. I found out I can constantly take those 20-50 pip moves and they add up quickly. I am not out of big moves either because if it breaks xxx.00 it will most likely continue.
It is this kind of expertise that I am trying to achieve now...need to adjust my daily schedule. The full time job is getting in front of my financial freedom
14 winning trades and +454 in such a choppy market, and the day is not even finished yet... Omg, you´re my hero!
Would be too much to ask if you could list them so we can understand better the reasoning behind each trade? It´s enough with the pair, entry and exit price... just this time, if you feel like doing it, of course.
Thanks!
nanningbob wrote:I took my profit just before the xxx.00 line and then placed a new pending above the line. It didnt break through so I pretty much got the max on that one. I got 32 pips. One of the most discouraging things in trading is to let a profitable trade turn into a non profitable trade. I am having a good day with 14 winning trades so far but only 2 have been bigger than 50 pips. I see profit I grab it and reset the pending above the next line. I trade line to line while the market is choppy or ranging. 454+ so far today. I am a singles hitter. I often get sneered at by so called big traders but they can sit on a trade and try to get 100, 200 or more pips on a trade but that is very hard to do. I found out I can constantly take those 20-50 pip moves and they add up quickly. I am not out of big moves either because if it breaks xxx.00 it will most likely continue.
Real 10.6 head fake for the EurNzd and GbpNzd. Both are in down trends, and there were nice crosses down through 80 on the Sto. But then things totally reversed and they have both gone up back through the RN.
cmeade2 wrote:Real 10.6 head fake for the EurNzd and GbpNzd. Both are in down trends, and there were nice crosses down through 80 on the Sto. But then things totally reversed and they have both gone up back through the RN.
i took a shed load of trades this morning uk time, just to experiment with the system, winners and losers, what i think is a good idea only my thoughts, but when the trade is showing either olive or golden rod, go down to the 1 hour and trade that, i think bob might have suggested that, the rest i leave on the 4 hour
viper77 wrote:14 winning trades and +454 in such a choppy market, and the day is not even finished yet... Omg, you´re my hero!
Would be too much to ask if you could list them so we can understand better the reasoning behind each trade? It´s enough with the pair, entry and exit price... just this time, if you feel like doing it, of course.
Thanks!
nanningbob wrote:I took my profit just before the xxx.00 line and then placed a new pending above the line. It didnt break through so I pretty much got the max on that one. I got 32 pips. One of the most discouraging things in trading is to let a profitable trade turn into a non profitable trade. I am having a good day with 14 winning trades so far but only 2 have been bigger than 50 pips. I see profit I grab it and reset the pending above the next line. I trade line to line while the market is choppy or ranging. 454+ so far today. I am a singles hitter. I often get sneered at by so called big traders but they can sit on a trade and try to get 100, 200 or more pips on a trade but that is very hard to do. I found out I can constantly take those 20-50 pip moves and they add up quickly. I am not out of big moves either because if it breaks xxx.00 it will most likely continue.
I dont have time this morning to do that maybe later. I can say this, almost all my trades were in the Asian currencies especially the NZD. Almost half of my pips were in the gbp/nzd with three trades totaling 163 pips. NZD/USD and NZD/JPY I got 80 each on 4 trades. Thats an average of 40 per trade. All other currencies were small pops, grab and run. 10-25 pip bank em and run.
I actually used the information I have been talking about for the last couple of weeks. When you see the AUD angle down the NZD follows and that is what happened. AUD down JPY going up and NZD follows. I traded that info and it worked. When price crossed the DP I went with it and grabbed the pips before they disappeared. See chart below.
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