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Sam@ezeetrader.com

6 Comments

  1. Rob C-Reply
    October 20, 2015 at 9:17 pm

    Hi Charlie,

    Firstly, a quick merci – because of you I’ve realised that lots of consecutive demo losses (all managed risk well but too many in a row) were me calling tops and bottoms! I thought that was the only way. It may not be the whole reason for the losses but momentum has opened my eyes. The “20 tips” article is very good, simple but to say very handy for any novice is an understatement. So kudos!

    Your multi-time frame analysis makes sense. But how do you decide which time frame to take? I look at daily, 4hr, 1hr and 5min (for entry) – any more and my head would explode.

    From your experience, how do you decide what to go with? i.e. the other day, think it was USDCAD, you saw 4hr timeframe divergence, checked 5min chart and went long and got pips. Of course it could have rolled over (part of the risk), but what if get conflicting info on different timeframes? So, 4hr says divergence and long opportunity but 1hr might be telling you to short – would you not trade, so awaiting all timeframes to tell you the same thing, or pick one and trade it? From my (albiet short) experience, it seems that seldom happens where every timeframe says the same thing.

    Rob

  2. Charlie Burton-Reply
    October 21, 2015 at 8:06 am

    Hi Rob,

    Thanks for your feedback – hopefully others who are new see what you have….

    The trade you refer to the other day I was indeed using the 4 hour chart and yes what you saw was me going long using the 5 minute but you must remember I’m not showing everything in those videos. The 5 minute was the final confirmation, the important factor was that it had done what I needed it to do on the 4 hour and hourly first. The 5 minute then becomes the reason to execute. So the setup is really based on the higher timeframes, the 5 minute is simply the final piece in the jigsaw to validate when to execute.

    Yes if I get conflict I will usually not bother taking at trade or otherwise downsize my position.

    hope that helps

    Charlie

  3. Rob C-Reply
    October 21, 2015 at 12:46 pm

    Indeed it does. As always much appreciated.

  4. Am-Reply
    October 21, 2015 at 1:07 pm

    Hi Charlie,

    firstly, thanks for all your efforts on video updates and live trading.. very informative..

    id like to ask, on these trades where people are achieving 200-300 pips.. whats the average time period trade is running for?….also, what is the average stop size in pips?

    thanks
    Am

    • Charlie Burton-Reply
      October 21, 2015 at 1:13 pm

      Hi Am,

      On these trades, they ran for about a week. Most of these types or trades are over within two weeks on average.

      Stops are always smaller than the gains. normally we try to keep the stops to with around 100 pips but obviously it depends on the trade and sometimes it will be more, but then so would the reward.

      hope that helps

      Charlie

  5. Am-Reply
    October 21, 2015 at 3:16 pm

    Thanks Charlie…much appreciated!

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