HAMA Indicators & Template Requests...
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Hi FXC and Linux,
Just thought I will add a bit from my observations trading the HA from long time back. Though HA is an excellent tool for identifying trends on any time frame, lot of people do not realize that it is also an excellent tool for stoploss.
Looking closely at the chart on the time frame you ar comfortable with (say 30min chart), after you enter the trade, trail your stop just at 5pips below the previous HA candle. Technically if you notice your chart you will never see your SL hit and if it does, it most likely is a trend change or else very high volatility. Either way you maximise your profits and trade most efficiently. With this mod version, trail it to the level of previous 2nd candle. IMO very very effient SL technique which I had used before.
On the GBP, you can catch those 120pip moves if you can manage to just sit tight and not second guess the system.
Let me know your opinion.
What is this? VIA PM?
What is PM
PM is private message. Click on FXcruisers name and it will give you a list of opions. One of those options is "send FXcruiser a private message". After you choose this option, the rest will look like a typical email format that I'm sure you can navigate through without any further instruction. Good luck.
Excellent observation, radicalmoses. This is one thing I like about the HAMA set up, the loss/reward ratio - minimal loss, if any. The market still dictates the outcome of any particular trade entry each one of us takes. So, if it goes the other way, it is neither your nor the technique's fault, especially if you follow the guidelines properly, it's just the way the market works. Take the loss, take a break, enjoy, and wait for the next opportune time.
Good suggestion. Thanks,
Request for indicators and template
Can you pl fwd me the indicators and template(s) at sukhen[at]cashette.com?
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I realised that it is inevitable that there are some fake signals (eg. the whole bar is below channel but if u short u find that later it will rise and touch the channel again and went on to touch the other side of channel)... any idea to minimise sideway trends like this?
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