PowerTrading/The River - page 39
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Yeah
Hi PT,
We would like you to post your screenshot as you trade so that we can go on with you.
I saw the ones you posted at another site as very instructive and easy to learn.
please keep us posted here too
thanksI would like to do that and I will when I can. I am still having some login problems on this site and sometimes it is just too much trouble to get them in but it seems to be okay today. I will try.
Thank,
PT
thanks man
anybody trading the break-out zone on GPBUSD would have secured 20pips before the retracement. Good method boy
First Trade
1st trade of the week was a good one. I caught this near the top placed a short for 68 pips. If you would have waited for the Zone breakout you still could have banked 60 + pips.
PT
Bounce
Took a short position on the Fib bounce and locked in a few pips. It has already started to back up but we will let this one run until it makes pips or backs up a few in profit.
About Zone Breakout
PowerTrader!
What are your criteria for drawing Zone Breakout?
Do you use DJ levels or different timeframes to determine its bounds?
Is time of sessions important for this purpose?
Why you use only 62SMA?
elsy
i think you should go through the thread page by page to get quick answers to your questions, afterall, the pages are not too much to read and understand.
thanks
Time
PowerTrader!
What are your criteria for drawing Zone Breakout?
Do you use DJ levels or different timeframes to determine its bounds?
Is time of sessions important for this purpose?
Why you use only 62SMA?There are no set times with the Zone Breakout. We draw the box simply to give us a better view of where price is consolidating. The box has been used in the past using either Asian session times or US times and I have traded those with some success. This method is based on Fibonacci and Price action for the post part. When things slow down and price consolidates, it is usually bouncing between two Fibonacci levels. This is where I draw the box. You do not draw the box when things are moving quickly.
PT
pt, can you post your chat set-up?
Pt.,
Can you please post the screen shot of your chart set-up in readiness for today's trading possibilities?
Today
Sorry this is after the fact but I had limit some alarms set and missed part of this myself to get some sleep.
But you can see taking a long on this break could have got you 80 + Pips today.
PT
Thanks PowerTrader and fowope for your replies!
And what is your first signal for closing your opened position?
How do you mnimize your losses?
Do you use stop-loss and where do you place it?