@HalcyonTrader Hi, Been following you for quite a while now. I must say excellent work you have. I was wondering what your terms mean such as 'v' and 'rr' and 'dp'
@HalcyonTrader Also how do you know when to take 1r, 2r, or 3,4 r profit? Since you are doing this on a lower time frame and the volatility involved when you you bring stops to be?
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HalcyonTrader Feb 12, 16 6:11 AM
I look for any excuse to TP. A pivot or support or resistance. I know the 15M very well - for me its not all that volatile but I don't recommend it for newbies. You have to get feel for how far you can push it.
taseerraza Feb 12, 16 12:01 PM
Hmm sounds good. And how many pips into profit do you bring stops to BE?
HalcyonTrader Feb 15, 16 4:31 AM
not a fixed amount of pips - once the market has moved away from my entry and it shouldn't come back. This one is play by ear.
taseerraza Feb 15, 16 7:39 AM
cool
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@HalcyonTrader Hey, How many pips do you set as a stop loss? Or do you use position sizing?
HalcyonTrader Feb 11, 16 7:56 AM
Position sizing based on my stop loss & a fixed $ risk.
taseerraza Feb 11, 16 1:42 PM
Thank you for being so helpful.
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@HalcyonTrader What is your entry setup?
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HalcyonTrader Feb 08, 16 3:50 AM
Thanks, but i feel like I still have a way to go with discipline - been trading fx for 2 1/2 years; trading stocks b4 for many years.
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Fatbeetrader Feb 09, 16 1:59 AM
cheers mate, glad your taking advantage of it and more importantly putting it to use with your own style!
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@Fatbeetrader Can you please advise on a suitable SL or TP when you open a trade? I have trouble knowing when you will cut the trade as it is not mentioned within your analysis.
@taseerraza just became a fully transparent trader today!
DP = daily pivot point. RR = Role Reversal (you can google that one, basically support becomes resistance and vice versa). V = Something I made up but basically is the origin of a strong move, preferable looks like a V for long and a ^ for short (I call both a V)
ah okay. Very nice. Thank you
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