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- Far East Man replied Apr 12, 2010
Hi M, The initial retracement (the leg to the head) may be a bit too shallow, I guess. According to mistersimple, it has to be around 61.8. url url Cheers,
- Far East Man replied Apr 11, 2010
Thank you for the info, Rastaman! Hmmmm.... I had never noticed this broker. Looks ok to me, too. By the way, did anyone take EU long somewhere? I love double tops and bottoms. And I love taking it in the middle where the W is still under ...
- Far East Man replied Apr 10, 2010
He he he, I'm an hour away from you. I'm in Fujisawa. My favorite broker is Alpari UK. They now accept credit card deposit, and I feel quite comfortable with them. Funny we communicate in English. I know that brokers' services battle in Japan is so ...
- Far East Man replied Apr 9, 2010
Thanks, M. I'm fine, really! Entering upon fixed zigzag was seemingly easy when I started reading this thread because many pairs were nicely trending at that time, so I took those positions without being selective. Only in hindsight, taking those ...
- Far East Man replied Apr 9, 2010
Congrats M! mistersimple, the GJ 1H crow setting hit the TP beautifully. What an amazing prediction! My GU and GJ turned out to be losers. I won't take big swing again.
- Far East Man replied Apr 8, 2010
Thanks mistersimple, It's looking good. I'm currently shorting GJ, so not good for me though. But that's ok. I'm in a process of finding a way. So it's always good to have interesting ideas. My EJ took 97 pips profit (RR almost 1:1). My GU and GJ ...
- Far East Man replied Apr 8, 2010
Thank you very much for the details, mistersimple! Now as you can see on the chart below, GBP/JPY 1H seems to be the perfect crow setting. image How or where would you enter the trade? Upon the touch of the extreme line and the beak? Where would ...
- Far East Man replied Apr 8, 2010
mistersimple, I've actually been frequently checking your thread recently. Really impressive work! I would love to try your method. Could you tell me what the crow is?
- Far East Man replied Apr 8, 2010
I like your decision, M. Now the downward momentum is massive. So it could work out! I pray for you.
- Far East Man replied Apr 8, 2010
Hi dzero, Yes, candle formations are sometimes very powerful, but they are, at the same time, highly dependent upon personal recognition. But, yea, if you use them as an additional confirmation in relation to other indicators or price actions, they ...
- Far East Man replied Apr 8, 2010
The range is big. But my concern is there will be two major UK-related news events. If you want to do it 100% mechanically, you have no choice but flip the coin. If the news outcome gives a massive boost, there would be a chance to fill either side ...
- Far East Man replied Apr 8, 2010
Modified the stop on EJ 1H. image
- Far East Man replied Apr 8, 2010
If you look at a 1H chart by zooming out like this, you may notice that the smaller the range the better the RR would be. Below is a 1H EUR/JPY chart. So I think it's a good idea to pick a range about 100 pips or less. If you pick a big range, then ...
- Far East Man replied Apr 7, 2010
Hi dzero, I always wanted to enter with smaller SL, but the thing is when you enter closer to the ZZ pivot, the ZZ pivot is not fixed. I have been considering laying out two ZZs on a chart, one with bigger numbers like 13, 5,5, the other with ...
- Far East Man replied Apr 7, 2010
GJ Possible Entry on 1H — I have placed a sell trigger on GBP/JPY 1H chart, too. I really don't like opening multiple positions at a time (the reason is posted in my blog), especially when those pairs are somehow correlated. But I simply would ...
- Far East Man replied Apr 7, 2010
EUR/JPY Possible Setup — I have placed a short trigger on EUR/JPY 1H chart. Sell stop: 125.182 Stop loss: 126.200 I know that the most recent swing high is not fixed, but if the swing low is penetrated, then it will be fixed. If the price goes ...
- Far East Man replied Apr 6, 2010
This is great, stevegee58! The best ZZ I've come across! Yep, that's the sound money management! I haven't moved my stop. I have to wait till the TM goes below the entry for at least two ledges. If I move my stop too early, it'll kill the potential ...
- Far East Man replied Apr 6, 2010
The original system doesn't set a solid SL and TP. So RR is variable with this system. Michael applied 1:1 RR on his own 5M trading.
- Far East Man replied Apr 6, 2010
Additional notes about my money management: My lot sizing is like this; when I have to risk 150 pips, I open 0.01 lot, and when I have to risk 75 pips, I open 0.02 lot. See? The risk $ is the same for both trades. For some traders, 75 pips stop is ...
- Far East Man replied Apr 6, 2010
Hi Archie, I'm currently using the opposite high/low as my initial stop, then adjust it along the TM (one step above/below). I'm very interested in placing the initial stop at the TM so that the risk reward ratio is better. I'm currently planning to ...