[firewalker]

Originally Posted by TheRumpledOne »

How do you gauge when to take profit?

WHEN PRICE STALLS, I USUALLY EXIT PART OR ALL OF THE POSITION.

How do you define 'stalls'? Price does not have to move all the time, sometimes it goes sideways or stays at the same level for seconds, minutes, hours (depending on what timeframe you are observing). So long how does price need to 'stall' before you scale out or exit?

Originally Posted by TheRumpledOne »

How do you gauge your stop?

STOPS ARE NATURAL. IF I AM LONG AND THE CANDLE TURNS RED AND HOLDS RED, EXIT. IF THE PRICE CROSSES A LINE IN THE OPPOSITE DIRECTION, THAT IS THE WORSE CASE STOP EXIT OTHERWISE YOU ARE NOT TRADING IN THE DIRECTION OF THE CANDLE COLOR.

Is there a difference between 'natural' and 'gut feeling'? Candles turn red and green all the time and they change colours while they are forming. A small green upbar followed by a big red downbar on the 5 minute will show as a red bar with a wick on the 15min. How about doji's?

[iinself]

Hi TRO,
Thanks for this simple and effective method. Does this method work on higher time frames like 4hr, daily etc.

Thanks

[TheRumpledOne]

Originally Posted by firewalker »

Real time would be a trade posted in the chatroom at the time of execution. Many traders here visit the chatroom and actually make those kind of trades public. They also post their stop so everybody knows when the trade turns against them. I think nobody would mind if you can show us a series of real time trades in the same way the rest of us do.

My FREE PalTalk chat room, the TWO PERCENT CLUB, is usually open when the FOREX market is open. Feel free to stop by.

[TheRumpledOne]

Originally Posted by firewalker »

How do you define 'stalls'? Price does not have to move all the time, sometimes it goes sideways or stays at the same level for seconds, minutes, hours (depending on what timeframe you are observing). So long how does price need to 'stall' before you scale out or exit?



Is there a difference between 'natural' and 'gut feeling'? Candles turn red and green all the time and they change colours while they are forming. A small green upbar followed by a big red downbar on the 5 minute will show as a red bar with a wick on the 15min. How about doji's?

STALL: TO STOP MOVING. If price STALLS and I have a profit, I exit part or all of the position. I DO NOT KNOW what will happen next. Price could move against me in the blink of an eye.


When I say NATURAL, I mean the stops are built into the system/method/strategy. If the method says "NEVER TRADE AGAINST THE H1 CANDLE COLOR" and I am LONG and the H1 candle turns RED, then the method is telling me to STOP OUT. It has NOTHING AT ALL to do with "gut feeling".

[TheRumpledOne]

Originally Posted by iinself »

Hi TRO,
Thanks for this simple and effective method. Does this method work on higher time frames like 4hr, daily etc.

Thanks

I am not sure what method you are talking about.

I would say "YES" because PRICE IS THE SAME on all time frames and all these methods are price based.

[Hlm]

Originally Posted by TheRumpledOne »

I am not sure what method you are talking about.

I would say "YES" because PRICE IS THE SAME on all time frames and all these methods are price based.

Yes, price is the same formation wise but has a larger average range per bar on a higher time frame. So for a 4H candle system would an individual only take trades at 00's (versus 25, 50, and 75) and just wait longer to take half off (e.g. 20 pips versus 5 pips)? If not then there would be no reason to move to a larger time frame right? My guess is that that's what the question was leaning towards.

[TheRumpledOne]

Originally Posted by Hlm »

Yes, price is the same formation wise but has a larger average range per bar on a higher time frame. So for a 4H candle system would an individual only take trades at 00's (versus 25, 50, and 75) and just wait longer to take half off (e.g. 20 pips versus 5 pips)? If not then there would be no reason to move to a larger time frame right? My guess is that that's what the question was leaning towards.

Not sure what you mean by "formation wise".

My point is that if PRICE is 1.5000 on M1, it's also 1.5000 on H1, D1, W1, etc...

But it would be possible that the candle is GREEN on H1 but RED on H4 so depending on which way price is MOVING AT THE TIME along with the candle color is what would determine your entry.

There is no reason NOT to take the trades at 25, 50 and 75 if one those is the FIRST HORIZONTAL LINE to be crossed by the candle.

[willkohsg]

hi all,
just came back form the 2 percent club on paltalk.
TRO's BUzzard strategy does work!!

grabbed +10 pips in a few mins

see below