Tyme » Fri Jan 24, 2014 1:22 pm wrote:

Captain Jack » Wed Jan 22, 2014 4:44 pm wrote:
That's a pretty good summation. I look for 50 pips and it really doesn't matter where I pick it up. I once traded mostly on the D1 and H4 time frames, looking for those long runs for hundreds of pips. But while trading back then,my lot sizes were a lot smaller than what I trade now and I would only take one or two trade entries. Now, I look for the short run, jump on the Fox with larger sized orders and stack the hell out of them when it's obvious that I am correct.

The idea is to make money.

Here's a chart of a recent series of trades I posted in another thread along with my trading plan going forward. As you can see, I cleared my trades, booked my profit and began a new series of trade entries going into the next drop in price. The first set of trades brought in around 500-550 pips and with the following trade sets, these NZDUSD trades brought in close to 3000 pips.

I could care less if NZDUSD was going to drop for a month straight.... I make my money where it's given and it's given anytime when price is advancing or declining. It's really pretty simple and yes, people keep making it way harder than it is. You wouldn't get on a bus going to NY when you wanted to go to SF and don't sell into a price rise or buy into a price drop.

CJ

So you basically are doing the same that you did when you were trading bigger timeframes, but now you are applying that knowledge to trade in smaller timeframes? I think it's the first time I see a M1 chart from you.

Do you keep taking a look to H4-D1 chart to see the overall bias? or you just use M1-M15 right now.

BTW, excellent trades. You are a beast.

intcust » Tue Jan 28, 2014 2:25 am wrote:Monty

A closer look and the fox might run back down to 1.3650 area before any move up. See CJ early post on this type of chart. So maybe wait for that or set limit in that area or a little lower then go for at least a two to one risk to reward. If a break above 1.3700 hold (00 bounce a lot) then look for probably another 100 or so pips. If it never makes it back down then well then it was a miss. But to try and jump it after a break will probably be a false break and get you. If you are right add to the position and crush it.

intcust