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aztrix

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Posts posted by aztrix


  1. I would have shorted a break of the bar 2 bars to the left of the #1 bar (ie the doji) or on a short of the #2 bar, had it occurred.

     

    I would only take a signal if the next bar broke the signal bar.

     

     

    Luv,

    Phantom

     

    As per your statement "Just use the 20 period moving average as your trend filter and NEVER trade against the trend on the 15 minute chart." I'm slightly confused with this strategy which seems to fly in the face of trading with the prevailing trend i.e. long.

     

    The price has retraced to the 20 EMA with a nice doji setup, would you not have a buy stop 1 tic above the doji and a stop loss 1 tic below it? Or is the R:R to small?

     

    cheers

    aztrix

     

    Still learning the ropes


  2. I received a PM asking about this trade.

     

    I missed this trading signal last night because of its timing, but for those of you around the globe who were up and monitoring the EC, I thought I'd go through it for you...

     

    The euro market had been channeling for several hours. Just after midnight (GMT +7) the market broke upwards out of the channel. We see the price action waiver around for awhile and then retrace to the breakout zone, followed by a quick move upwards and back down.

     

    The market proceeded to move through the channel and downward, followed by a test of the lower channel zone. A doji formed at the test point. A downward break of this doji around the 1.4220 area led to a sharp decline to the 1.4120 area, a $1200 (plus or minus) profit per car for those involved. Not bad for a $200 risk...

     

    Notice how waiting for the doji test of the channel zone kept one from taking the breakout to the upside and getting stopped out.

     

    Similar signals in this market happen all the time.

     

    Question is, are you getting these R/R ratios in your trades?

     

     

    Luv,

    Phantom

     

     

     

    attachment.php?attachmentid=25407&stc=1&d=1311257588

     

    I realise this is fairly old news but I am still interested in this after losing this thread :crap: for years and happening upon it again this week :)

     

    Isn't there a false breakout/reversal with a hammer 5 bars earlier which would have provided a better entry point ±1.424 with a much tighter stop loss and consequently better R:R ratio? Curious minds would like to know!

     

    BTW Like many other before me I've found this thread invaluable and would personally like to buy you a :beer: one merry day phantom :deal:

     

    cheers

    aztrix

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