@HalcyonTrader Hi, Been following you for quite a while now. I must say excellent work you have. I was wondering what your terms mean such as 'v' and 'rr' and 'dp'
@Fatbeetrader Congrats on $1M profits on profit.ly! :) You have been a big inspiration to me over the past couple of years and hopefully many more to come. Big congrats!!
@HalcyonTrader Thanks mate :) Glad that I could help inspire you.
@Cprgee Thank you :)
@ssteffenn15 Thank you steffenn :)\
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@HalcyonTrader Hey, what order do you use? Market order, limit order or stop order ?
hi @ssteffenn15 I use both limit and market orders - just depends on if i'm watching actively or not.
Thank you :)
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@HalcyonTrader Also how do you know when to take 1r, 2r, or 3,4 r profit? Since you are doing this on a lower time frame and the volatility involved when you you bring stops to be?
I look for any excuse to TP. A pivot or support or resistance. I know the 15M very well - for me its not all that volatile but I don't recommend it for newbies. You have to get feel for how far you can push it.
Hmm sounds good. And how many pips into profit do you bring stops to BE?
not a fixed amount of pips - once the market has moved away from my entry and it shouldn't come back. This one is play by ear.
cool
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@HalcyonTrader Hey, How many pips do you set as a stop loss? Or do you use position sizing?
Position sizing based on my stop loss & a fixed $ risk.
Thank you for being so helpful.
DP = daily pivot point. RR = Role Reversal (you can google that one, basically support becomes resistance and vice versa). V = Something I made up but basically is the origin of a strong move, preferable looks like a V for long and a ^ for short (I call both a V)
ah okay. Very nice. Thank you
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