Simple Inside Bars

This is a discussion on Simple Inside Bars within the Trading Journals forums, part of the Reception category; Unable to move stop any further as the previous bar did not make a lower low so our stop remains ...

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Old Nov 10, 2008, 4:04pm   #43
 
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foredog started this thread Unable to move stop any further as the previous bar did not make a lower low so our stop remains at 15802 for the night, hopefully markets will drift lower.
Maybe i need to introduce a rule to lock in some profits on a large move but for the moment we'll wait and see if the 50% works.

There was an inside bar on the 1500 candle but i said i wouldn't trade after 1500 so we'll let that one go.
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Last edited by foredog; Nov 10, 2008 at 4:04pm. Reason: typo
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Old Nov 11, 2008, 8:01am   #44
 
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foredog started this thread Todays open at 6am is 15656

We're still i our trade and showing a profit. The 7am bar is making a lower low than the 6am so we will move our stop accordingly. The high is 15660 so 15802-15660 = 142 /2 = 71

New stop is 15731

We've now locked in a profit (in theory) and hope for the trade to run lower.


Exit will be on a reversal signal or when stop is hit.
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No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Nov 11, 2008, 9:06am   #45
 
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foredog started this thread THe 8am bar made a lower low (just 15566 vs 15569) so we can lower our stop again.

The high of the bar was 15643 (15731-15643=88 /2 =44) so our new stop is 15687

We have now locked in a profit of 90 pips which gives us a R:R of 1.63 so for (90/55)
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IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Nov 11, 2008, 10:05am   #46
 
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foredog started this thread No lower low for the 9am bar but we do have another IB

8am range 15566 - 15643

9am range 15575 - 15631

Sell stop placed at 15571

stoploss at 15635

4.5 lots (293 / 64 =4.57)

I have just taken the previous balance as no profit or loss has been banked yet.

Trade triggered almost immediately, lets see what happens....
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IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Nov 11, 2008, 11:10am   #47
 
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foredog started this thread The 10am candle made new lows so we can move our stops accordingly.

The high was 15625 so our original trade we move the stop to 15656 (15687 -15625 = 62/2 =31)

and our second trade to 15630 (15635-15625 = 10 / 2 =5)

I would not have been too keen to take the second trade seeing how far cable's already fallen without any pull back but we just have to follow the rules and see what happens
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IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Nov 11, 2008, 12:03pm   #48
 
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foredog started this thread No lower lows but another inside bar

10am range 15625 -15507

11am range 15596 - 15527

So a sell stop at 15523

stoploss at 15600

3.8 lots (293/77=3.8)

Order cancelled at 1pm if no trade

All other stops stay the same.

I don't have much hope for this trade succeeding if triggered but we can but try.
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IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Nov 11, 2008, 1:00pm   #49
 
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foredog started this thread Our trade was not triggered and cable has gone above our stop so the order is cancelled.

The other two stops will stay where they are as no lower lows.
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IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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