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"Just Oil"

minosd777
Jul 23 2012 at 09:36
44 posts
A lot of EUR negative news this weekend, but my experience tells me that when the news gets to negative a reversal is close...so i don't trust the fx this week..my EUR/CAD sl is on be so I don't risk anything..

Beware of big reversals in EUR/$, I wouldn't be surprised to see a lot of profit taking and a big short squeeze very soon, altough we all hope it will get to 1.18-1.15 before that happens ;)

Chikot
Jul 23 2012 at 12:56
2299 posts
Hi Mino, eur/cad is one of a few trades that I did nt take unfortunately when signal happened. I take them all now. so far the trend is going so I am going to stay with it as long as it lasts. Profit taking is of no importance I am ready to stay in trades even if they go to 0 pips as long as trend is still in the same direction. so far not so bad. looking for few more pairs to take trades.

minosd777
Jul 23 2012 at 13:51
44 posts
You use a cross of the 7 and 21 EMAs on the Daily chart to identify a signal?

Honestly I dont know what to do now, one part of me sees the EUR disaster but the other part tells me that a short sqeeze is comming before the end of the week..this translated into taking partly profits on the EUR/CAD and selling the EUR/$ at 1.2085 (too low I know) and than selling back the EUR/CAD :p...the $/CAD is in a downward channel and will soon hit the above resistance line so that will be the moment to add to a EUR/CAD SHORT


Chikot
Jul 23 2012 at 16:41
2299 posts
It is EMA 25 and 7. You simply trade medium term hence you are right for your time frame, but I trade longer term hence I should stay put. Weekly , monthly results do not matter., my goal is to get on big trends and run them and collect working tardes. actually had not I closed so much of my older positions I would have had a lot of floating equity.,enough to cover losses and for some profit. lesson learned

Chikot
Jul 23 2012 at 16:42
2299 posts
was right about gbp/usd and aud/jpy/. reversals most probably

Chikot
Jul 23 2012 at 23:04
2299 posts
I am eyeing 4 more trades.

stevewalker
stevewalker
Jul 23 2012 at 23:15
1439 posts
Chikot
give a try to following ( demo )

1000 pip TP
500 pip SL
fix. dont chage. dont close manually no matter what.

EU daily or 4Hr chart.

************( entry algo is your deseciopn )
open when you see a trend long min lot. set tp sl & forget.
open when you see a trend short min lot. set tp sl & forget.

open as much as you see a trend. do never think if it will be the end of the trend or what ever. just open.

I promise you it will make profit.
not may be constant income like monthly but yearly will make huge.


Chikot
Jul 23 2012 at 23:57
2299 posts
Interesting idea. you use 2:1 R:R but over very long term. what's you money management for this system? what's risk per trade?

stevewalker
stevewalker
Jul 24 2012 at 00:05
1439 posts
0.01 for each trade no change. no MM. fix.
everthing is fix.
no close before sl
no close before tp

trader will make desecion only when entering the trade.

always the same desecion according to your plan.

open & forget.


stevewalker
stevewalker
Jul 24 2012 at 00:07
1439 posts
no limit for order number. when you see a long trend you will open long. and vice verse.


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