Simple Inside Bars

This is a discussion on Simple Inside Bars within the Trading Journals forums, part of the Reception category; If i had been long cable following the rules i would've moved my stop to 15080 and still locked in ...

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Old Nov 19, 2008, 5:32pm   #91
 
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foredog started this thread If i had been long cable following the rules i would've moved my stop to 15080 and still locked in a 16 pip loss, makes me think it could be worth following the original method of taking off half the position at 1:1.
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Old Nov 19, 2008, 8:16pm   #92
 
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Quote:
Originally Posted by foredog View Post
If i had been long cable following the rules i would've moved my stop to 15080 and still locked in a 16 pip loss, makes me think it could be worth following the original method of taking off half the position at 1:1.
You never know though foredog; The risk/reward would have been pretty cool if the move had followed through strongly.
All we can do is try and accept these uncertainties.

Best Regards,
Neil
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Last edited by bansir; Nov 19, 2008 at 8:18pm. Reason: spelling
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Old Nov 19, 2008, 9:36pm   #93
 
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You never know though foredog; The risk/reward would have been pretty cool if the move had followed through strongly.
All we can do is try and accept these uncertainties.

Best Regards,
Neil
I agree, all you can do is follow your rules, put the trades on and try and keep the losses small and some of the should reward us.
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Old Nov 20, 2008, 3:03pm   #94
 
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foredog started this thread 6am open 14960

Inside bar at 1400

12pm bar 14830 - 14927

1300 bar 14834 - 14900

Sell stop place at 14830

Stoploss at 14904

Order is for 5.5 lots (406.26/74 = 5.49)

If not triggered will cancel at 1500
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Old Nov 20, 2008, 4:02pm   #95
 
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foredog started this thread We are in a trade at last and it's made a new low so we can move our stop, though only by a little.

1400 high 14888

current stop 14904 ( 14904 - 14888 = 16/ 2 = 8)

New stop 14896

This won't make much of a difference to our bottom line, but every little helps and it's in the rules and RULES ARE RULES....
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Old Nov 20, 2008, 5:02pm   #96
 
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foredog started this thread Another new low and the high of that candle was 14802 so we can move our stop to 14849 so now only 19 away from our entry
stop will remain there now until either tomorrow mornig or it's hit
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Old Nov 20, 2008, 10:41pm   #97
 
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Good luck with the trade Foredog.

In case you plan on posting any more charts, in case you are not aware of it, there is a free and very nifty picture picture file viewer called irfanview (IrfanView - Official Homepage - one of the most popular viewers worldwide ). Very popular among digital photographers. Anyway, among other things, it's dead easy with this to resave a .bmp file (or any other graphics file) as a JPEG, which will make it a lot smaller, so you could post it direct, without having to wrap it up in a ZIP file.

Just a thought. irfanview is dead easy to install; for complete functionality, make sure you have the plugins (all explained on the site, and this is also dead easy). It's also pretty small.


Regards,
M.
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Old Dec 5, 2008, 1:05pm   #98
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Hi mate hows it going, seemed like you were of to a good start, would be nice to see this continue.

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Old Dec 5, 2008, 1:56pm   #99
 
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foredog started this thread Sorry to anyone following this but i had to put it on the back burner for a few weeks.

I wasn't making much headway on my real account, which pays the bills, so i had to concentrate on that. Hopefully get back to the IB's when my P&L's back on track.

Cheers
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Old Jan 22, 2009, 12:38pm   #100
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Originally Posted by foredog View Post
There is a lot of talk of risk reward and different strategies so i am going to attempt to demo trade a simple system on the GBPUSD over the next few weeks.

I will trade the break of a 1hr Inside bar in the direction of the day (chosen by taking the open of the 6am Uk time candle) with an entry by stop loss 4pips outside the bar and my stop 4 points the other side of the bar.

I will then check every hour and if a bar makes a new high i will move my stop to 50% difference from this candle and my previous stop and my exit will either be stop hit or signal in other direction.

I will try and record it here and also on a blog A SIMPLE TRADING SYSTEM

I will start with a fictional $10000 and risk 3%

Thank you
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Old Jan 22, 2009, 12:48pm   #101
 
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foredog started this thread I'm away for a few days next week but hopefully I'll start posting again later next week or the week after (having missed the big moves in cable!)
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Old Jan 22, 2009, 5:29pm   #102
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I'm away for a few days next week but hopefully I'll start posting again later next week or the week after (having missed the big moves in cable!)
Without wanting to cause offence, i wouldn't bother to be honest. You've proved it can work if the strategy is applied with discipline, patience and good money management. System refinements are up to the individual and should be explored and tested by themselves.
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Old Mar 28, 2009, 12:13pm   #103
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Originally Posted by foredog View Post
I'm away for a few days next week but hopefully I'll start posting again later next week or the week after (having missed the big moves in cable!)
Hi Foredog,

Now we're a few months on from when you first posted your system, have you found it to have consistently been up and have you traded it for real at any point?

Cheers
KDH
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Old Mar 28, 2009, 2:11pm   #104
 
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foredog started this thread I've not really had the chance to trade it long term as i needed to concentrate on my equity trading which pays the bills.

Taht's back on track so i'm hoping to have the time to commit to both and start doing this for real soon. Plenty are doing this though if you go to Forexfactory and look for the DIBS thread people are trading this every day.
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Old Mar 28, 2009, 4:01pm   #105
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Originally Posted by foredog View Post
I've not really had the chance to trade it long term as i needed to concentrate on my equity trading which pays the bills.

Taht's back on track so i'm hoping to have the time to commit to both and start doing this for real soon. Plenty are doing this though if you go to Forexfactory and look for the DIBS thread people are trading this every day.
Yeah - five minutes after sending that to you I found the thread and it looks a very promising system! Cheers for getting back to me.
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