Seneca, do you take the breakout and retest for the opening range even if it happens late in the NY session like yesterday? Or do you only take the entry until London Close?

Ramblings of a Forex Junkie

Currently, I use 20%-22% of the daily ATR(5) smoothed with the 5 period ema for my intraday trading (as SP explained in his posts). Then I set the position size accordingly, risk is always 1% (1R). For the trades from the weekly high and low I use ...

Ramblings of a Forex Junkie

Yes, this was my by far most profitable day this year. Good avice. Position size is always 1R / 1% (as yet). But you are right, I often take 2-3 trades that are highly correlated. I'll have to pay greater attention to this matter.

Ramblings of a Forex Junkie

Some nice moves today with bounces from the daily/weekly open on EU, GJ and UJ. Today's live result (only level trading intraday): +13.2R / 13.2% (including some "gambling" trades from late Friday evening for 2.5R, couldn't resist ;-) Done for the ...

Ramblings of a Forex Junkie

I closed the trade, too. Too much risk involved I think. You are right about gambling, you never know where price goes/gaps over the weekend.

Ramblings of a Forex Junkie

How true, mate. 0:30 pm here in Germany, time to get some sleep.

Ramblings of a Forex Junkie

Sounds good. Time can be worth more than money, especially if you have young kids and spend the time with them. It is a memorable time you do not want to have missed at a later date. My daughter is 7 and my son is 4 years. I have (still) a part time ...

Ramblings of a Forex Junkie

Great. I am just preparing three sub accounts with my broker and the chart setups for parallel trading of the intraday levels, weekly levels and the opening range breakout. I will live trade all 3 methods and compare the results from next week on. ...

Ramblings of a Forex Junkie

One question regarding your stoploss on H4: do you also use the weekly ATR for the daily open trades or the daily ATR as for the intraday trades? PS: Thanks for your answers.

Ramblings of a Forex Junkie

Once again a nice trade from the opening range breakout on EU...closed half at 1/1 for +29 pips (0.5R), moved stop to BE and second half running at +72 pips...

Ramblings of a Forex Junkie

Awesome, Seneca. Sounds like a great way to trade the higher timeframe. Have you decided yet what pairs you will trade on H4?

Ramblings of a Forex Junkie

That's great! I am also interested to learn more about your bigger TF method.

Ramblings of a Forex Junkie

Seneca, do you ever hold trades from the opening range breakout over the weekend? Or are you flat at market close on Friday?

Ramblings of a Forex Junkie

I did not the following short on the retest, unfortunately. But thanks for the hint. The range breakout really is not time consuming at all. For the levels I trade, I would say in total I spend 2 hours looking at the charts. So the 2 methods (levels ...

Ramblings of a Forex Junkie

Yes, EJ was one of my trades...exited way too early in hindsight. One question: Would you consider the weekend high as the real weekly high or only as an additional level?

Ramblings of a Forex Junkie

Ok, thanks for your thoughts. I decided to let the other half run and was stopped out at BE. Bad luck, but a win is a win (0.5R). PS: I am done for the day. Trading the levels made me 3.8R today. With the breakout trade on EU my account increased ...

Ramblings of a Forex Junkie

Yes, you are right. Would you exit the trade then at the resistance or manage it as planned?

Ramblings of a Forex Junkie

Nice breakout and retest from the 3 hour range leading up to London Open. Closed half at +40 pips, other half running with stop at BE.

Ramblings of a Forex Junkie

Ok, this makes perfect sense. I assume from your above statement that for a breakout in the same direction on the next day, you move your stop from the previous day to the stop level of the current trade?

Ramblings of a Forex Junkie

Great, thanks. Would you move the other half to BE after 1/1?

Ramblings of a Forex Junkie