Quoting coolshadesDislikedeurgbp is shaping to meet both conditions.. lets see.Ignored
Like the trade:
= sell in big downtrend
= solarwind about to cross down
= R/R >1
Poek
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Quoting coolshadesDislikedeurgbp is shaping to meet both conditions.. lets see.Ignored
Quoting poekmeisterDislikedHi Willf, you seem to have nailed this one spot on! I took the EURCAD and am currently in for a los of 64 pips/lot. Similar with GBPCAD, loss of 159pip/lot. These 2 loss trades wipe out almost my entire pipprofit of last week....
You seem to talk from experience. Did you find any special tendencies with trades on big move-Fridays? e.g. never take a counter-trend trade as result of long counter-trend bar after News?
Poekmeister
EURCAD TRADE ATTACHEDIgnored
Quoting poekmeisterDislikedHere is my GBPCAD trade that is currently in 160p/lot loss. I have been keeping a record of my trades last week and I have noticed that the S/L set on High/Low of the signal day in combination with fib TPs creates a rather low Reward-Risk ratio. This GBPCAD is a clear example...
Some ideas:
a) I have been tracking 70%ATR or nearest fib level as alternative stops which significantly increase the R-R ratio. Assuming that you risk 1% of equity per trade, you significantly increase the returns.
b) should we discard any trade with a R/R <1 ?
Anyone any thoughts?
PoekIgnored
Quoting poekmeisterDislikedI see two candidate trades (Wilff fozzy)....May I have your votes please?
GBPCHF - buy
= clear uptrend, just broke previous highs
= solarwind just turned green
=> looks solid
EURAUD - sell
= 100SMA>200SMA, 50SMA just crossed down 100SMA, no clear trend
= price is in congestion zone
= solarwind has been coming down for a long period with no price movement, now turned red
=> skeptical, so I am not trading
PoekIgnored
Quoting the bhoyDislikedTrade 6
GBPCHF one lot
entry order@ 2.4040
s/l: 2.3952
t/p: 2.4150
not happy at taking opening price on this as 80%atr stop would be above yesterday's high.
Trade 7
USDCAD one lot
price: 1.1763
s/l: 1.1712
t/p: 1.1828
rejoining the strong uptrend and stop is under recent lows.
not taking the USDJPY cross today as it's looking quite choppy and near historic resistance.
So only one trade today, potentially twoIgnored
Quoting MikeCDislikedFirst of all thanks bhoy for this thread i think it works nicely in conjunction with the fozzy thread. Secondly Willf and Beachbum, do you have your own fozzy threads or journals at all. I hope to start my own fozzy journal once I am experienced enough.Ignored
Quoting BeachBumDislikedMike...............I do not currently have a journal. If you have followed my postings in the Daily Fozzy Method thread, you know I posted weekly results for about 10 weeks last Fall. I have been out of the US for three weeks and will be gone again for five weeks beginning later this month. I don't have time to post, barely enough time to keep up with trading. When I return March 1, I may start a journal. In the meantime, there is more than enough info on this thread and the Daily Fozzy thread to get started and be successful. Take your time, develop your own Fozzy system and stick to it. You'll do very well! HTHIgnored
Quoting poekmeisterDislikedI have entered two trades today.
GBPCAD:
+ signal today
+ trend is up
+ solarwind turned positive
+ price bounced up from tunnel (on GBP rate news)
+ there is plenty room to recent highs
+ R/R is 1,3 and 3,3
- price retraced quite a bit from intraday high
AUDJPY:
+ signal today
+ trend is up
+ solarwind turned positive
+ price bounced up from tunnel
+ there is plenty room to recent highs
+ R/R is 2,2 and 4,7Ignored
Quoting poekmeisterDislikedI have entered two trades today.
GBPCAD:
+ signal today
+ trend is up
+ solarwind turned positive
+ price bounced up from tunnel (on GBP rate news)
+ there is plenty room to recent highs
+ R/R is 1,3 and 3,3
- price retraced quite a bit from intraday high
AUDJPY:
+ signal today
+ trend is up
+ solarwind turned positive
+ price bounced up from tunnel
+ there is plenty room to recent highs
+ R/R is 2,2 and 4,7Ignored