Forex Freeway - page 8
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This seems to be a great system. I have had two wins so far but have come to a crossroad. On G/J I can only see one more set of road blocks, what happens when there are no mor blocks in the road?
Hi
Desoft, can you verify my setup? Thanks
Hi Desoft, can you verify my setup? Thanks
I am in the same trade maniek.
Even though, this is pretty risky, because we are very close to the 2415 top.
Could have grabbed +17 so far, but didnt. Lets see if that was the right decision.
This seems to be a great system. I have had two wins so far but have come to a crossroad. On G/J I can only see one more set of road blocks, what happens when there are no mor blocks in the road?
Basza,
As long as your trading discretion is in line with the freeway, then take the trade. Again, follow proper money management. This will allow you to take small losses and live to trade another day.
DeSoft
Hi Desoft, can you verify my setup? Thanks
This is technically a correct entry for a long trade. But remember, use discretion...There is a lot of news coming out of Germany and the E-12 so expecting volatility. Also place the multiple pivot indicator I attached on post #59. You will see a monthly R2 pivot. Potential resistance. Also check your stoploss amount. Is it in line with proper money management? Because if you are shooting for 20 pips, then your risk to reward ratio may be off and you may want to hold off for another re-entry oppurtunity. But that is my own opinion.
DeSoft
Also be aware of US news coming out during the US morning. Could be bad for the Dollar. Possible heavy volatility.
Basza,
As long as your trading discretion is in line with the freeway, then take the trade. Again, follow proper money management. This will allow you to take small losses and live to trade another day.
DeSoftThanks DeSoft. I add the CCI indi to the chart just so that I could check which way it was heading, and it helped me make the right choice on G/J .
This is technically a correct entry for a long trade. But remember, use discretion...There is a lot of news coming out of Germany and the E-12 so expecting volatility. Also place the multiple pivot indicator I attached on post #59. You will see a monthly R2 pivot. Potential resistance. Also check your stoploss amount. Is it in line with proper money management? Because if you are shooting for 20 pips, then your risk to reward ratio may be off and you may want to hold off for another re-entry oppurtunity. But that is my own opinion.
DeSoft
Also be aware of US news coming out during the US morning. Could be bad for the Dollar. Possible heavy volatility.Thanks Desoft
You are right SL is too big.When I want to have TP 20 pips, SL must be max 10 pips, right?I did know whay they want not up and now I know.
Thanks for pivot.
This is technically a correct entry for a long trade. But remember, use discretion...There is a lot of news coming out of Germany and the E-12 so expecting volatility. Also place the multiple pivot indicator I attached on post #59. You will see a monthly R2 pivot. Potential resistance. Also check your stoploss amount. Is it in line with proper money management? Because if you are shooting for 20 pips, then your risk to reward ratio may be off and you may want to hold off for another re-entry oppurtunity. But that is my own opinion.
DeSoft
Also be aware of US news coming out during the US morning. Could be bad for the Dollar. Possible heavy volatility.Desoft,
the stop placement is indeed somewhat delicious. Yesterday I had stops ranging between 18 and 44 pips. Sure the risk/reward ratio is off track with TP 20 targets and a 44 pip SL. But I feel that these trades sometimes need this room. But it is a dilemma to some extend. One could extend the targets to match the larger stops.
Dan is correct with his statement. When I speak of risk to reward, I want each trader to look at their own individual trading. My stops may not be the same as Dan's and Dan's might not be the same as the next person. So, determine what you think is safe for your own trading, but definately use the last swing low/high (s/r fractal) as a stop placement. Maybe a few extra pips for some added breathing room. Good trading.
DeSoft
On gbpchf TP is achieved but with sl 30 pips