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...so if you see an uptrend on your H1 chart then yes you are trading the trend...Ignored
PS... That's assuming one has properly recognized the trend, of course!!
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...so if you see an uptrend on your H1 chart then yes you are trading the trend...Ignored
DislikedTo be honest yes I think you can say you are trading the trend based on an H1 chart.
[color=black][font=Verdana]The trend is defined by the timeframe you use to trade from so if you see an uptrend on your H1 chart then yes you are trading the trend. Are you trading the long term trend... maybe not? Am I... probably not either! I guess it depends on your own point of view on the market. I would say that using 4 hour and daily charts and holding my position for a few days, I am a medium term trend trader!...Ignored
DislikedThere are all kinds of different trends over all kinds of different time areas, you can actually see them better on the M1 chart cause you can see the price action that formed that 4H candle.
I can and do trade exactly the same trends, read of a M1 chart that other use a 4H chart for, likely much more accurately.Ignored
DislikedHello,
I started to read jacko thread about trend trading, as many of you recommended.
He mentioned at some point he is using at least 4h chart, everything below is just noise. Maybe it's true, maybe it's not. What I didn't understand was how can he enter a trade with a 50 pips SL ? I personally think a SL of 50 pips might work on a 1h chart, but not on 4h and above. The market (at least EUR/USD) can easily fluctuate with more then 50 pips.
How do you trade with trades? What time charts are you using and what SL?Ignored
DislikedI use mainly weekly charts (if I use charts at all) and don't use stops.Ignored
DislikedSo a conclusion would be that SL depends on the chart your are trading on, because of the fluctuations of the market. If I would stay more than one day in a trade (I am not there yet ) a SL of 100 would sound good.
Thanks you all for sharing.Ignored
DislikedStop Loss is a great tool to decrease the risk.it's true that we can not use Stop loss in every trade, but Stop loss is required for some particular trades like if you are a swing trader then you have to use stop loss and scalpers always use stop loss.there is a gear role of Stop Loss in forex trading.Ignored
DislikedXaron, i believe you use mental stops as opposed to hard stops.
Technically speaking, every trader/investor uses stops.
ZIgnored
DislikedYes, you're right. Of course it's not a good idea to let positions run forever (losing ones). But using hard stops has never worked for me that good.Ignored
DislikedI don't know. It might work sometimes and sometimes not. Never tried it to "resurrect" a loss.Ignored
Disliked1. Is it really a bad thing to trade against major trend given by D1 and W1 charts?
For example, on EUR/USD, the D1 chart shows an uptrend that slowed down a little, maybe a reversal will soon occur. But on H1 I have a clear downtrend, so I opened a position. Is it a bad approach?
2. How fast are you usually getting the trend? How many pips do you miss until you are almost sure it's a trend in a specific direction and open a position?Ignored