Rickrux0:
thanks for the great job you are doing bro. Took two trades on Eurjpy and eurusd last week. Both ending in profit on the H1 timeframe. I was wondering however, what is the best way to make an entry? Through a buy/sell stop order or should one wait for the candle that broke the Support/resistance to close. I find this a challenge at times.

In the attached picture. At the break of support(red line) I am caught between placing an order a few pips below the support and the close of the breakout candle( blue line). If I place an order... In a short time I would have been in profits....however, if I entered at the close of breakout candle, not only would my entry be unfavorable, I'll also take a loss on the trade.

There are other situations I've seen in the charts where stop orders didn't do so well. Price simply fell pass the support, triggered the order and continued in the opposite direction, leaving only wicks or shadows. Just wanted to get ur take on this.

redsox11:


Great job bro. It's all about putting it to play, not just reading it online.

To answer your question, I'll enter after bar close. So that I don't enter into fake move. And if the bar closes with too much movement that will require big stop loss, then I'll wait, market in most times retrace back to where they broke out from.

Bigbasho plays it this way a lot. He waits to enter at the retrace from where the market broke out from.

sconp:
@redsox11 could you create a thread for the tutorial pls?

redsox11:
Good luck guys. Happy weekend.




https://www.nairaland.com/4111155/learn-forex-trading-absolutely-free
Same info , maybe add one or two things. Just putting everything together in one place.

Rickrux0:
I have my eyes set on AudUsd for a potential sell this week. Trading on H1 and confirming 3candle sequence on D1. Price hasnt broken 24 sma, neither has sma began to turn yet. I just hope I don't skrew it up if the setup is complete. Also, I'm curious...will news alter our results with this trading system? Considering we trade high timeframes.

redsox11:


I don't care about news except Non Farm announcement, once a month. If you're trading 5mins TF, you should care about the news.

Good plan you've got. Now it's waiting game... For the set up to show up.

Ps: As you're on 1hr TF, you should ignore trade with large SL, look for set up with tight SL and be picky.
Pps: From the chart, I marked the previous buy. With daily big picture confirming it.

bigbasho:


I have his book, I will revisit it

mrikay:
YOu bad people have finally chased out Pipsbasketing from the forum... Someone who has something to offer.

redsox11:
Good luck guys. Happy weekend.




https://www.nairaland.com/4111155/learn-forex-trading-absolutely-free
Same info , maybe add one or two things. Just putting everything together in one place.

Shevychen2:

Normal

They chased him away and they aren't posting anymore. Nigerians will never change.

Shevychen2:

Normal

They chased him away and they aren't posting anymore. Nigerians will never change.

mrikay:


Tear him down! Tear him down!! They keep shouting. They will rather see the whole community in chains than see somebody giving out freedom.

DTGOLD:

bros please im on my kneels,can you send me the quarters theory book,tnx damillionaire4eva@gmail.com.ill so appreciate.tnx