PowerTrading/The River - page 5
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Welcome Melissa. Hi guys, I've been trading this system for a few weeks now and I must say it is a profitable system.
Hey Smalltalk,
Glad you are here as well. I am sure you can be helpful to others here as we are trying to be.
Welcome
Welcome Melissa.
Hi guys, I've been trading this system for a few weeks now and I must say it is a profitable system. Thanks to the originator of this system, he may be Rob Booker or Orange Roshan.
Happy trading!
Aha..
The concept of the wave..or river trade has been around for quite some time, it's nothing new just look up http://www.raghee.com/
I am not sure why you Orangites need to go on like this...just do your trading and if you are so successful then people will believe and follow you no matter what any one else says. To me, it's that simple.Dave, you hit it bullseye. Like they said just wave it and go with the flow!
The other indicators just crowd the chart. I prefer mine with less - KISS = LESS is MORE! But, to each his/her own. Whatever works for an individual trader to achieve their goals should cut it.
ENJOY!
fxcruiser
?
when we enter a trade, say long, does the candle before the candle we enter on have to be a long candle and not short candle? also , when we enter long and the price reverses and crosses the red sma does it have to close above the red line or just touch it to exit the trade?
thnx
Entry, Stoploss
when we enter a trade, say long, does the candle before the candle we enter on have to be a long candle and not short candle? also , when we enter long and the price reverses and crosses the red sma does it have to close above the red line or just touch it to exit the trade? thnx
The candle before the one you enter does not have to be a long, but I think I may wait an additional candle to be sure in that case. Unless we have broken a fib area or an important trendline. In respect to the SL, I would set the stop just past the envelope line on the other side, maybe 5 pips at most.
I hope that helps,
PT
zigzag only has this , where is price length ..?
extern int ExtDepth=12;
extern int ExtDeviation=5;
extern int ExtBackstep=3;
what is the difference between rivier trade and carry trade?
and i just understand when should we enter , but doesn't know how to close, would you like to give more pictures ? thanks.
you can reply or send mail to me , my mailbox is jiangpr@gmail.com , 3q.
Refer to post #1 for exit rule.
Take profit:
1- Use Fibo levels, support and resistance, etc
2- Look for reversal candles and formation.
3. Use +90 or -90 level of 62SMA
Personally I use River Trade to maximise profit. I prefer GBP/JPY pair since it has bigger moves. I use another method as my main system in trading this pair. Depending on volatility and existing open trade, I use RiverTrade mostly for scalping. For scalping, I will pay close attention when the price getting close to +45 level of 62SMA because this is my first take profit level. I will also check out the higher time frame to see if the price has a good chance to go to my second target level, +90 level of 62SMA. If this level is near a fib line, I prefer to exit at fib line.
Happy pipping!
what is your blue and red line ?