Trading the Opens - page 3
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"no stops "- allways will finish with crash for you deposit, ALLWAYS !
MAybe you better try it before make some thoughts?
to say no stops will blow your account and blah blah even 5 year old kid can say. If you are full time trader and you monitor your open trades you can easily run away when you see reversals or you know your system. I do the same way of trading with no stop I never used them. Only use move to BE after 30 pips reached.
This man puted here his way of trading, just to show or something else, you firstly begin to blaming those stop without watching system as he recommended.
MAybe you better try it before make some thoughts?
to say no stops will blow your account and blah blah even 5 year old kid can say. If you are full time trader and you monitor your open trades you can easily run away when you see reversals or you know your system. I do the same way of trading with no stop I never used them. Only use move to BE after 30 pips reached.
This man puted here his way of trading, just to show or something else, you firstly begin to blaming those stop without watching system as he recommended.Well said stace... all dreamers. Looking for a system to trade for them.
Great on 'Playtime' but no sustance. Balls as big as peas.
Well said stace... all dreamers. Looking for a system to trade for them. Great on 'Playtime' but no sustance. Balls as big as peas.
As long i am here on this forum as much I see seekers for free hot stuff to immediately will make them cash machine from their PC
damm tired of it
Opens
As long i am here on this forum as much I see seekers for free hot stuff to immediately will make them cash machine from their PC damm tired of it
Copy THAT!
Take a look at my post in 'Trading the Asian high & Low'
Bigbaloo is my Brother in Law
Copy THAT!
Take a look at my post in 'Trading the Asian high & Low'
Bigbaloo is my Brother in Lawgood good good
Hi people
For what it's worth here's my dime.
Parabolic bars
Stochastic bars (Mladen's version)
Williams %r (cja's MTF version)
HMA nrp (Mladen's version)
I trade all three sessions, Asian, European, & New York.
I only trade on Tuesday, Wednesday, & Thursday.
Only one rule:
Entry...When all indicators agree - no stops - set TP at 18, 3 for them, 15 for you.
Go back to bedHey BB,
Any particular pair you trade at the opens?
Chris
Mp -- Dont Like Stop Losses Much Myself
hey
while a junior member here, a forex trader for the past 6 years and its all i do to keep the wolf from the door, so it behooves me not to make many errors in trading !
Im gonna say that I PERSONALLY do not use stop losses ever !
before you jump on me allow me to put forth a few privisos to follow ALWAYS !
you MUST be trading in the direction of at least ONE of the 3 normal trends --- if you nail all 3 trends, then youre golden.
you should enter at the top (for shorts) or bottom ( for longs) of the LRC and/or zigzags for your selected timeframe.
you must use correct money management, just in case you get caught in the normal 10am EST reversal, the noonday reversal, or the late night reversal during the japanese session. You can avoid most of this by trading the european opening to the 10 am NY baby reversal, but definitely out by the NOON (which also happens at 11:30 am, est, depending on how the banks feel !)
If you get caught, you WILL suffer the drawdown BUT if youve chosen correct trend, usually overnite or latest tomorrow, your ship will come in !
if one follows the logic of forex, which always moves a currency from the bottom to the top of the LRC and then back down again over a number of different timeframes, one can understand missing a tp, have the currency then dive down as the shorts take profit after the runup, and while the longs wait for the new low to add to their positions or start new positions. Once we start up again, and the currency is in an uptrend, your profit WILL be reached and had you a stop loss, you would have lost your money on the drop !
Please understand that the history of stop losses comes out of equity trading and most equities DO NOT trade as smoothly, logically or predictavely as does Forex --- they were designed to prevent MASSIVE losses on stocks that had gone up tremendously, and would now fall, being shorted by the major institutions as individuals hung on, praying for them to go back up again.
with forex, if youre careful and dont overplay your margin and AS LONG AS YOURE MOVING WITH THE MAJOR TREND, you may wait a while and you may have some sleepless nights, but lo and behold YOU WILL MAKE YOUR PROFIT !
Now Im not telling the newbs to run out and do this in ANY way, but if the intermediate and good traders demo this idea, they should easily see what I'm referring to,
Not looking for an argument, BUT IF YOU DEMO IT, YOU VERY WELL MAY SHED SOME OF THOSE OLD IDEAS ABOUT STOP LOSSES !
enjoy and trade well
mp
Hi people
For what it's worth here's my dime.
Parabolic bars
Stochastic bars (Mladen's version)
Williams %r (cja's MTF version)
HMA nrp (Mladen's version)
I trade all three sessions, Asian, European, & New York.
I only trade on Tuesday, Wednesday, & Thursday.
Only one rule:
Entry...When all indicators agree - no stops - set TP at 18, 3 for them, 15 for you.
Go back to bedKick stop
Not looking for an argument, BUT IF YOU DEMO IT, YOU VERY WELL MAY SHED SOME OF THOSE OLD IDEAS ABOUT STOP LOSSES !
enjoy and trade well
mp
Well said, my man.
Easy for the 'Arm chair' demo traders to scoff.
Stop looking for the 'holy grail' & start trading. The best indicators are your eye's, & the best stop loss - a mouse finger &/or a telephone.
Will somebody post the mladen indicators and post a template so I can get started in my gambling?
Wifey makes meatballs doublesize...I like my spaghetti with red sauce....
eS
I understand that you trade without a stop, if it's your own system and you know the typical movements during that period... You'll probably know when to exit.
However, you say: "Go back to bed"
I would never ever ever open a trade without a stop and going to bed.
And the second reason is that Money Management doesn't work or atleast the way I do MM. It's not about pips but all about ROI.
Merry Christmas everyone