I understand there can be so much of a difference in this in regaurds or at which there is a SL in. I have been imagining this for a while. If a person trades compared to a person that trades 1 hr charts off to the person that trades so forth and off 4 hr charts. Ok now that I have stated that, does the typical man trading off 4 hr charts, hold a position 4 times longer than that of a 1 hr chart trader and 8 times longer than a 30 minute chart dealer? I know I am not explaining this exactly how I need, that is normal for me.
Greetings Ren, I will post while trading 30m graphs, on what I'm seeing my two pips worth.
My model suggests I go into a trade w/3 units, shooting you at xPips, the 2nd, at x Pips, and also the 3rd to allow run w/a variable prevent loss based on 1) automatic trailing stop(or two) manually stop/replace as currency creates new areas of consolidation, then breaks out in management of prior trend.
So the short answer I'm discovering on my model is typicaly when a trade goes from the direction since TA indied, and also the New York am session is average at volume/volatility, 1 two TPs are often hit by (all times in GMT-5) ~10:30 (after entering ~6 to 7amIsh) along with the 3rd usually ends up that afternoon in a change.
Thom
a following note: my customary 1st TP reaches 22-30 pips, then moving S/L into BE 1 on staying units, then 2nd TP reaches 45-50pips, then moving S/L of staying 3rd unit into TP-level 1, and trail at 20-30pips based on currency. Via TA based FIBOs, Harmonic Beats on 30m chart not looking at different graphs for typicaly TP's are decided.
Reply With Quote
Thom
