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Log in77+ pips on gbpusd, $77 minilots, $770 standard lots
forexgreenland - Forex forum,Forex training, Forex signals, Forex mgt accts :: Your first category :: Forex Technical Analysis & Strategies
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77+ pips on gbpusd, $77 minilots, $770 standard lots
by Stalion on Tue Apr 22, 2008 3:02 am
[05:08:24] Stalion : helloo all
[05:08:29] Stalion : hope you'all had a nice weekend...
[05:10:01] Stalion : we could put a sell stop on GBPUSD @ 2.0022, target point @ 1.9945, with a 35 pip stop loss.
www.forexgreenland.com
[05:08:29] Stalion : hope you'all had a nice weekend...
[05:10:01] Stalion : we could put a sell stop on GBPUSD @ 2.0022, target point @ 1.9945, with a 35 pip stop loss.
www.forexgreenland.com
Re: 77+ pips on gbpusd, $77 minilots, $770 standard lots
by Stalion on Thu Apr 24, 2008 1:19 am
[QUOTE=cephask;6090]Hi,
How often do you post signals? And at what time? Would you mind sharing you system?[/QUOTE]
Hi Cephask,
London time is a more better time for posting signals from the CHART PATTERN RECOGNITION AND PRICE PROJECTION TECHNIQUE, which is an excellent period for the application of technical analysis. Anytime from 9a.m (Nigerian time)
to 11a.m daily IF there are reliable signals from the method. Since this system is more discretionary based than mechanical based, most of it would be shared here without full disclosure on an open forum. Stories we hear about institutional ''big dogs', large dealing desks,etc, going out of their way to fade out signals from popular trading systems are not unfounded, which makes them lose their effectiveness in no time. Its a jungle out there, mon ami. Twould only be a matter of time before the 'crowd' renders it unworkable, like a forex robot on its last laps. Nevertheless, most of it would be shared here before, during, or after market sessions.
[QUOTE=meritlife;6097]to stallion i saw ur trading system and stratagy i really like it but please there is something i want to ask u how do somebody know where to close a trade ' what sign or an indicatior that can tell u where to cloe a trade
thank[/QUOTE]
Hi meritlife,
Thanx for your mail. You see, closing a trade is something a trader should have already figured out, before entrying any trade, along with the stop loss for proper risk management. Its like captaining on a ship with no particular destination(s), you might run out of fuel. So , it usually depends on your system. Like the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY, we tend to calculate the direction and distance to which price may move. Once it gets to or close to your target point, you should be looking to close your trade. Some use oscillators(MACD, RSI, etc) to show the overbought/oversold region where traders might be looking to take profits, either in a long or short bias. But I believe its better to get clues for closing a trade, right at the candlesticks,BEFORE pulling the trigger.
Another way might be using a trailing stop, once price gets like 20 to 30 pips along your direction.
Yesterday's call on USDCHF was not hit for some, and I got stopped out on it. Why?
What happened..? Housing reports( Existing home sales and House price index) on the US economy was lower than the previous data, which was negative on the US dollar bring out sell orders that lowered price down on USD related pairs. See why its cool to keep an eye on the news?
Just follow up, mon ami, and you might see how to practically close trades.
How often do you post signals? And at what time? Would you mind sharing you system?[/QUOTE]
Hi Cephask,
London time is a more better time for posting signals from the CHART PATTERN RECOGNITION AND PRICE PROJECTION TECHNIQUE, which is an excellent period for the application of technical analysis. Anytime from 9a.m (Nigerian time)
to 11a.m daily IF there are reliable signals from the method. Since this system is more discretionary based than mechanical based, most of it would be shared here without full disclosure on an open forum. Stories we hear about institutional ''big dogs', large dealing desks,etc, going out of their way to fade out signals from popular trading systems are not unfounded, which makes them lose their effectiveness in no time. Its a jungle out there, mon ami. Twould only be a matter of time before the 'crowd' renders it unworkable, like a forex robot on its last laps. Nevertheless, most of it would be shared here before, during, or after market sessions.
[QUOTE=meritlife;6097]to stallion i saw ur trading system and stratagy i really like it but please there is something i want to ask u how do somebody know where to close a trade ' what sign or an indicatior that can tell u where to cloe a trade
thank[/QUOTE]
Hi meritlife,
Thanx for your mail. You see, closing a trade is something a trader should have already figured out, before entrying any trade, along with the stop loss for proper risk management. Its like captaining on a ship with no particular destination(s), you might run out of fuel. So , it usually depends on your system. Like the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY, we tend to calculate the direction and distance to which price may move. Once it gets to or close to your target point, you should be looking to close your trade. Some use oscillators(MACD, RSI, etc) to show the overbought/oversold region where traders might be looking to take profits, either in a long or short bias. But I believe its better to get clues for closing a trade, right at the candlesticks,BEFORE pulling the trigger.
Another way might be using a trailing stop, once price gets like 20 to 30 pips along your direction.
Yesterday's call on USDCHF was not hit for some, and I got stopped out on it. Why?
What happened..? Housing reports( Existing home sales and House price index) on the US economy was lower than the previous data, which was negative on the US dollar bring out sell orders that lowered price down on USD related pairs. See why its cool to keep an eye on the news?
Just follow up, mon ami, and you might see how to practically close trades.