I have been using a few systems and all complement, but in some
cases that rule confuses me. In this example, the 30 minute candle
here would have confirmed the trade before closing? I used positive
divergence on multiple charts, trend lines, October lows, and the
Pro system as reasons to get long at the lows today.
When I typed the question it had just taken back 50% but not had
a closing confirmation.
You don't have to reply to me until you are free. Take your
time.
mike - no, for example when I trade ES futures on these RVM
setups, such as the 5 min ES chart I posted, my buy or sell stop
order goes in once the doji or large candle completes. If the
trigger occurs it's during the next candle, not when it closes.
So once I'm filled my stop goes at the low of the doji or
large candle, not the current candle as it's generally not finished
yet
so here's that 5 min ES, this is a doji not a large candle, but
same deal, once doji was complete I set my buy stop order in place.
The buy stop triggered about 2 min into the next candle, so
it still had 3 min to go. My sell stop immediately was place
at the low of the doji once my entry occurred.
I meant buy or sell stop order depending on if it's a short or
long trade. The example I show is a long trade so was a buy
stop, otherwise my comment references both long and shorts
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Matt or Steve,
Posted by zitron on 14th of Jan 2016 at 10:17 am
Does the bullish engulfing or large green candle have to close before the 50% rule takes effect for you?
Answer: NO
Thanks,
Posted by zitron on 14th of Jan 2016 at 10:26 am
I have been using a few systems and all complement, but in some cases that rule confuses me. In this example, the 30 minute candle here would have confirmed the trade before closing? I used positive divergence on multiple charts, trend lines, October lows, and the Pro system as reasons to get long at the lows today.
When I typed the question it had just taken back 50% but not had a closing confirmation.
You don't have to reply to me until you are free. Take your time.
mike - no, for example
Posted by matt on 14th of Jan 2016 at 10:21 am
mike - no, for example when I trade ES futures on these RVM setups, such as the 5 min ES chart I posted, my buy or sell stop order goes in once the doji or large candle completes. If the trigger occurs it's during the next candle, not when it closes. So once I'm filled my stop goes at the low of the doji or large candle, not the current candle as it's generally not finished yet
so here's that 5 min
Posted by matt on 14th of Jan 2016 at 10:24 am
so here's that 5 min ES, this is a doji not a large candle, but same deal, once doji was complete I set my buy stop order in place. The buy stop triggered about 2 min into the next candle, so it still had 3 min to go. My sell stop immediately was place at the low of the doji once my entry occurred.
Matt, where you said "my
Posted by zubeldia on 14th of Jan 2016 at 10:24 am
Matt, where you said "my buy or sell stop order" did you mean "my buy or buystop order"?
I meant buy or sell
Posted by matt on 14th of Jan 2016 at 10:26 am
I meant buy or sell stop order depending on if it's a short or long trade. The example I show is a long trade so was a buy stop, otherwise my comment references both long and shorts