Re: Trading Pullbacks System
733i also jumped on EU today i was 3% down last night and ive now come back to break even and finished with a 3% profit, i think when i exit could be better. any idea whens best to exit a trade? i usually exit when the RSIMA crosses in the over brought and over sold zones and watch out for price touching rounder numbers.
Re: Trading Pullbacks System
734read post 1, oh I see it is changed by moderators. It seems my suggestion to watch/be cautious/take some at previous highs/lows is removed, perhaps somebody can add so: Always check/be careful at previous low/high this is first target idea and:WATCH price moving! very often price will come back to your entry, take your Breakeven and continues. There are no indicators to tell you where to take profit, at this stage you have to be patient/sit on your hands or get the hell out. You can always re enter!claytonbj88 wrote: Sat May 22, 2021 1:44 am i also jumped on EU today i was 3% down last night and ive now come back to break even and finished with a 3% profit, i think when i exit could be better. any idea whens best to exit a trade? i usually exit when the RSIMA crosses in the over brought and over sold zones and watch out for price touching rounder numbers.
PS do not take your entry from an indicator; take it from the trenline, but only when the candle is clearly red/green and showing momentum. Your entry is too late
Re: Trading Pullbacks System
735Agree, looks like only bullish sign is the long term ma's.Meyney wrote: Sat May 22, 2021 12:58 am gy 1H see this spike at round nr and SD...not very bullish agree
Re: Trading Pullbacks System
736let's zoom out and see gy made already nice longs on 1H but MA's flattening right now and no reason for entries on 1H. But candle pattern at round nr. watch tl so perhaps time to switch to ltf like 1M. This template will not repaint so easy to backtest/study.
Re: Trading Pullbacks System
737Thanks for your feed back, yes I already do that where I let me first half of trades hit TP at previous highs and lows and then leave my 2nd postions open for them to continue or close if price starts to reverse. Would you mid showing me where I should of entered? because I thought my entry was ok? I will also read over the thread again from the beggingMeyney wrote: Sat May 22, 2021 2:04 am read post 1, oh I see it is changed by moderators. It seems my suggestion to watch/be cautious/take some at previous highs/lows is removed, perhaps somebody can add so: Always check/be careful at previous low/high this is first target idea and:WATCH price moving! very often price will come back to your entry, take your Breakeven and continues. There are no indicators to tell you where to take profit, at this stage you have to be patient/sit on your hands or get the hell out. You can always re enter!
PS do not take your entry from an indicator; take it from the trenline, but only when the candle is clearly red/green and showing momentum. Your entry is too late
Re: Trading Pullbacks System
738That's a good way of looking at it, I never looked at it like that before, once zoomed out you can see how when all MA'S are wide apart theres mometum and new market structure, higher highs, and when all MA'S are close together there is not market structureMeyney wrote: Sat May 22, 2021 5:40 am let's zoom out and see gy made already nice longs on 1H but MA's flattening right now and no reason for entries on 1H. But candle pattern at round nr. watch tl so perhaps time to switch to ltf like 1M. This template will not repaint so easy to backtest/study.
Re: Trading Pullbacks System
739Trendlines works, because so many uses them, maybe, anyways, every one who is trading trendlines, is waiting that third bounce, it has very good risk reward ratio. Just saying.Meyney wrote: Sat May 22, 2021 12:58 am gy 1H see this spike at round nr and SD...not very bullish agree
Re: Trading Pullbacks System
740entryclaytonbj88 wrote: Sat May 22, 2021 7:54 pm Thanks for your feed back, yes I already do that where I let me first half of trades hit TP at previous highs and lows and then leave my 2nd postions open for them to continue or close if price starts to reverse. Would you mid showing me where I should of entered? because I thought my entry was ok? I will also read over the thread again from the begging