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And it is the full image of the possible trades starting in the end of last week.
As we see from the image it was two good buy ordes validated by NonLagMA big and RSIFilter indicators. And these two orders were still open on Monday. |
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And now about exit.
As we see from the image our two buy orders should be closed by the yellow bar of NonLagMA big indicator. In this case one order will be closed with more than +250 pips and the other one with about +90 pips. Both orders should be closed in 03rd of July at the about 14:30 alpari server time. It is about +340 pips just for 3 days trading GBPUSD only. |
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Some people may ask me:
well but if it is the trading systems of 3 indicators only (ASCTrend, NONLagMA big and RSIFilter) so why we should attach to the chart the other indicators? Becase we may estimate (to trade or not) based on Fibo-Pivot indicators. And we may have many exit cases. For example, it is our two buy orders which may be closed by AbsoluteStrenght_exit indicator (see image). Why we need the other exit? Because if we have exit on yellow bar of NonLagMA big indicator we may have a lot of pips even for one week. But it is risky. Exit on AbsoluteStrenght_exit indicator will give us less pips in profit but less risky: +112 for one order and +124 for the other one that is about +230 pips for both. In that case we are trading normally: we open one order then we close this one order, waiting for the other validated ASCrend signals, open the order, close and so on. Just in normal way. So the trader is having a choise: - exit simultaniously all open orders (exit on yellow bar of NonLagMA big indicator); or - exit in "normal" way using AbsoluteStranght_exit indicator. You may see it from the image. |
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Well. Evething is very clear about second exit rules: we are openning the order according to the ASCTrendsig indicator validated by NonLagMA indicator and RSIFilter indicator and exit on AbsoluteStrenght_exit.
One order at the time. It is not risky. First exit rule. We open as many orders as we have ASCTrend signals validated and close all simultaniously on yellow bar of NonLagMA big indicator. It is risky? Yes of course. But it will get us a lot of pips in profit as well. How to reduce the risk if you choose the first exit rule? - try to open the order in the beginnng of the trend (in the beginning of NonLagMA big indicator). If you see the good sigal - try to see when the trend was started and, probable, it will be finished soon. We may see this case from the image (USDJPY M30): first sell gave +140 pips, second sell was in +43 pips, 3rd was with about +40 as well, and 4th one with the about -20 pips. So if you start to trade from the 4th signal you will lose at least 20 pips. But if you wait and open the order in the beginning of the trend so you may win about +200 pips in total for all 4 orders for USDJPY only and for 3 days only. |
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First exit rule (continuing).
If we may get a lot of pips from some rules so this rules are very risky. Otherwise it is not forex. On the image attached you may see the USDJPY M30 now: we opne 3 buy orders and all of them are still open and are still with losses. That is why I attach the Fibo-Pivot indicators here just to understand when the price is moving and to get the additional confirmation (above/below/near middle pivot line and so on). If you are trading using the first exit rules you may get losses. Try to use Fibo- pivot indicators to understand to trade or not. Last edited by newdigital : 07-04-2006 at 08:38 AM. |
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It is fully described in this section http://www.forex-tsd.com/catfx50/ about how to use Fibo-Pivot so I will not repeat it.
Well. We know that second rules are less risky but may be less profitable. Do we have the other exit rules? Yes. At least 2 more: 3rd exit rules: FiboPivot exit rule (Live Charts Fib Pivots indicator); and 4th exit rules: Pivot exit rules (^Pivot_ResSup indicator). But using these 3rd and 4th exit rules we may reduce the trades and we will not trade often. But we may take into account these 3rd and 4th exit rules. Which way/ How to do it? One example is with EURUSD and USDCHF now (see images). |
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So what is the conslusion?
- try to open all 4 charts (EURUSD, USDCHF, GBPUSD and USDJPY) even if you are trading the one pair only; - from the beginning use second exit rules: you will have some losses and you may have good profit also. - use the first rules only if you are familiar with Fibo-Pivot and so on. |
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