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Thread: Biggest question: reversal or breakout?

  1. #1
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    Biggest question: reversal or breakout?

    Hi there

    in recent months I am working hard to identify it will be break out or reversal.

    I have build my strategy that works fine for reversals, but during US session
    there are nice break outs happens even no news and my reversals does not work on that
    session, except if prices moving near price average of 60 days - that is different story.

    I wantrf to learn to identify it and started using volume indicator.

    What do you recommend and use for break outs, guys?
    Also does thinkor swim better than MT4 platform?

    Tadas

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    advert via signature isn't allowed edited by Gamer

  2. #41
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    This is not a good thing when we are removing our stop loss or just getting more and more negative amount of fund by holding our trades in forex, trader's should have understand this properly that which point of the market would be better to exit and it does not matter then how much we are losing that time, along with it we should use a good risk management so that we can close our trade with less loss only.

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  3. #42
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    Quote Originally Posted by Khimi234 View Post
    This is not a good thing when we are removing our stop loss or just getting more and more negative amount of fund by holding our trades in forex, trader's should have understand this properly that which point of the market would be better to exit and it does not matter then how much we are losing that time, along with it we should use a good risk management so that we can close our trade with less loss only.
    I think that as long we want to remove the stop loss then we need to know that stop loss should not be placed based on desperation first. In order to place them perfectly, we need to understand the reason behind it then we can execute it perfectly too. Certainly a huge confidence will be needed first before we will do that decision.

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  4. #43
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    Quote Originally Posted by sekiryutei View Post
    I think that as long we want to remove the stop loss then we need to know that stop loss should not be placed based on desperation first. In order to place them perfectly, we need to understand the reason behind it then we can execute it perfectly too. Certainly a huge confidence will be needed first before we will do that decision.
    If we want to not using any stop loss then we need to place or cut our position manually. If we can keep watching our chart fully then i think this will be executeable but if we do not have that time then we will have no other choice but to use the stop loss tool so when we can't watch the market we can still keep our trade safely.

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  5. #44
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    Quote Originally Posted by Selly View Post
    If we want to not using any stop loss then we need to place or cut our position manually. If we can keep watching our chart fully then i think this will be executeable but if we do not have that time then we will have no other choice but to use the stop loss tool so when we can't watch the market we can still keep our trade safely.
    Difficulty will lies in whether they can cut their own position manually or not. If they can do it then certainly that is very good already but not all traders will be able to afford for them too. We might need to know our own limitation in here for what we can do and what we can't do at all. If we already found the answer then i believe trading is much more easier.

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  6. #45
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    Cutting our position manually would not be that much good at all, I would suggest to use stop loss always but if you are thinking that market will come back to your opening price then for sure after placing the stop loss you can close it manually too, but buy ignoring stop loss if we are using manual method of cutting loss then it would not be a good smart work at all here.

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  7. #46
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    Quote Originally Posted by Earnperfect View Post
    Cutting our position manually would not be that much good at all, I would suggest to use stop loss always but if you are thinking that market will come back to your opening price then for sure after placing the stop loss you can close it manually too, but buy ignoring stop loss if we are using manual method of cutting loss then it would not be a good smart work at all here.
    If we wish to cut our position manually then we need to possess the knowledge that can help us to gain the confidence in doing them first. if we do not have any confidence while we trade then we will not get anything we wish too in return. Traders need to ignore the market and make their own decision. but the price will need to be closely watched since they are trully important.

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  8. #47
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    Quote Originally Posted by bryTadas View Post
    Hi there

    in recent months I am working hard to identify it will be break out or reversal.

    I have build my strategy that works fine for reversals, but during US session
    there are nice break outs happens even no news and my reversals does not work on that
    session, except if prices moving near price average of 60 days - that is different story.

    I wantrf to learn to identify it and started using volume indicator.

    What do you recommend and use for break outs, guys?
    Also does thinkor swim better than MT4 platform?

    Tadas
    it depends on how you trade, and I prefer to the reversal, because then I'm more confident with the direction of prices are clear, and it could take a few pips of profit there. the basis of the reversal is when it touches the the limits of support or resistance and we can use it to make a profit of around 20 -30 pips. so if you want to trade based on the reversal then you should know the limits of support and resistance..

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  9. #48
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    Quote Originally Posted by Batavia View Post
    it depends on how you trade, and I prefer to the reversal, because then I'm more confident with the direction of prices are clear, and it could take a few pips of profit there. the basis of the reversal is when it touches the the limits of support or resistance and we can use it to make a profit of around 20 -30 pips. so if you want to trade based on the reversal then you should know the limits of support and resistance..
    Doing a reversal trade actually is very dangerous and it is not like you prefer or not anymore. As long you are taking a risky trade then you will need to be aware of the possible risk on it. If you don't then you can't say anything once you loss a great deal of money which is very possible at the current moment. Try to trade safer and slower will do.

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  10. #49
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    I think a reversal will be very easy to spot in the sense that we should see it this way when the price hits the support or resistance levels you will see the market reversing, that means going through the other direction, Furthermore, we ought to know that there is no certainty when it comes to trading, there is no way to know for sure what the market is doing but with the right trading skills and knowledge we should be able to be sure most of the times.

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  11. #50
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    Quote Originally Posted by Batavia View Post
    it depends on how you trade, and I prefer to the reversal, because then I'm more confident with the direction of prices are clear, and it could take a few pips of profit there. the basis of the reversal is when it touches the the limits of support or resistance and we can use it to make a profit of around 20 -30 pips. so if you want to trade based on the reversal then you should know the limits of support and resistance..
    I do not prefer to trdae the reversal, but I know that the reversal is a very good means of trading that can get traders what they need in the market for success. What traders will strictly know might be a breakout system, but the breakout of the higher time frame is a successful trend of that time frame.

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