Captain Jack » Sat Oct 31, 2015 1:59 pm wrote:
If you understand how the script works that I use in fast moving markets, then you would understand those pending orders.

My script fires out a set number of pendings, but it also fires out an order, behind me. That way, should the MM or those who move price, decide to double dip and go back to accumulate more orders, my pending order will also fill and accumulate more orders for me. Most times, when price trips your stops, and closes your trade for a loss, the trader looks elsewhere for his next trade. In essence, this is what they want you to do, because you have chosen the correct trade and they want you out of it. After you are stopped by a reversal in price, they reverse again and now blow right past your original trade entry zone. The backup order, if triggered will more than cover any SL losses in my orders should they pull this move.

-CJ-

simcom » Sat Oct 31, 2015 10:14 am wrote:

Captain Jack » Sat Oct 31, 2015 1:59 pm wrote:
If you understand how the script works that I use in fast moving markets, then you would understand those pending orders.

My script fires out a set number of pendings, but it also fires out an order, behind me. That way, should the MM or those who move price, decide to double dip and go back to accumulate more orders, my pending order will also fill and accumulate more orders for me. Most times, when price trips your stops, and closes your trade for a loss, the trader looks elsewhere for his next trade. In essence, this is what they want you to do, because you have chosen the correct trade and they want you out of it. After you are stopped by a reversal in price, they reverse again and now blow right past your original trade entry zone. The backup order, if triggered will more than cover any SL losses in my orders should they pull this move.

-CJ-

Great. Thanks a lot CJ - that clears up my confusion!

Now I seem to recall having read something you'd said along these lines before, so apologies if I've made you repeat yourself. I didn't want to ask stuff that's already been said multiple times.

Captain Jack » Sat Oct 31, 2015 2:32 pm wrote:
Most times in the past, when I was trading the D1 periods, I was also working 70 hours a week and driving 140+ miles each day. I had no time to monitor trades. During those days, when I entered a trade, I would place a SL, tight of 10-15 pips as the trade was placed at a suspected reversal point. I would then place a pending order that would be triggered after my SL was hit, going opposite my of my original order. That way, if I was wrong on the top and got stopped out, price tipped the pending order and took me with it. I would then wait for the reversal point and do it again. SL losses were covered many times this way.

Another thing I would do is to place a TP and add a reversal pending order just beyond... that way, my profit was collected and many times, had an anchor trade going the other way. You can get as complicated doing this as you like.

-CJ-

Captain Jack » 31 Oct 2015 14:06 wrote:
I say it over and over again...people lose their accounts by over trading an underfunded account. Your money is your ammo in this war.... tie it up in margin, on the wrong battle and you have lost the war, not just that skirmish. When you make a mistake... ADMIT IT TO YOURSELF and close it. Save your money for when you have made to correct call, and then use your ammo to best leverage the outcome...

-CJ-

fahedksa » Sun Nov 01, 2015 8:42 am wrote:Hi friends ,
What better than spent time during weekend practicing forex.
Please i attached EURUSD chart with levels and my view.
Can you guys confirm if correct or not?
I wonder can 3 levels takes up to 7 days?

caca » Sun Nov 01, 2015 3:58 pm wrote:Am i right?