Strategies, Systems & Indicators

[Edward]

Hey Biswajit thanks for asking this questions.... once again lets explore this important aspect of successful trading.

Now that we have 5 successful traders trading Lazy boy, I would like to hear from them about their own "exit strategies".
Remember, the entry point is the first crucial thing, the next is the exit. Now I am pretty sure we are all comfortable with the entry, half the job is done, the next half is the about the exit.

Lets dedicate this entire week discussing the exit strategies.
If you get time to know them personally, you will agree with me that each of this 5 guys are completely different from each other.
Madhav, Raghav, Sumit, Ashish, Sunny and others....
If each one spells out his exit strategy, you people can decide which one suits your temparament. I will try to show the pros and cons (if any ) of each strategyl and will also explain my own strategy (which I have alreade done, but to refresh that)

I see there are two versions of Lazy Boy
1)Using only crossover for enry
2)Using both Crossover and Arrow for entry

If somebody has tested both,Plz post the comments.

Another thing is now I think it is right time to discuss various exit strategies that suits for Lazy boy

1)Book profit for Fixed pips.(How much target for which TF?)
2)Book profit when lower TF gives an opposite signal
3)Combination of above two.Book profit for partial lot let the remaining run for larger profit
4)Using arrows for exit
5)Others(Plz comment)

I expect some experienced members to share views which of the above and logic for the same.If somebody has tested both plz post your results.

 

[sumitdasjoshi]

well my exit stertgy is like i enter with 3 lot i have book profit in 10 pip than 20 and than 30 pip.

 

[biswajit2040]

well my exit stertgy is like i enter with 3 lot i have book profit in 10 pip than 20 and than 30 pip.

After achieving first target of 10 pips or 2nd target of 20 pips ,do you move stop-loss?
Do you keep SL as high/low of trigger candle?Plz explain details

 

[sumitdasjoshi]

yes i moved stop loss to be

 

[biswajit2040]

yes i moved stop loss to be

Thanks for the quick reply
Say ,trigger candle high at 83.17 and low at 82.95
u go long at 83.20
Now,Price is at 83.30 you achieved the first target,where would you move SL?
If price reaches 83.40 then how you move SL?I assume you are using 30min TF.

 

[sumitdasjoshi]

once target hit i put is to be for eft of my target .i dont move stop loss many time only once.

 

[Edward]

Madhav, Raghav, Sunny, Ashish,

when you see this please post... I will request Devee sir to do the same..
lets discuss and freeze the top 3 techniques by this weekend...

Biswajitji.. the first quality in forex for profit is patience......... waiting...... waiting and waiting... so don't be anxious.. help is on the way... lets dedicated this week for the exit...

in the past we have discussed the entries quit exhaustively and thus now we get very few queries on the entries... but be warned 'exit' is the most importatnt thing.. so don't expect any quick fixes for it... you will have to fine tune it as per your temparament...

 

[maidass]

Dear Eddie & Friends,
as I'm concentrating more on marketing activities to make the seminar & training a big hit in Bangalore, I will not be able to contribute regularly here.
Plz do 4give me.

Take care ... so long.


It is not important what you do,
Till the time you know the
importance of doing it

 

[bharatk8]

Re: The Easiest Forex Trading system :

Not able to download indicator from Link1/Pl. upload once again

Hello All,

Download the indicators and the template from the link given below.
You have two links .... 1 is a special indicator that you will need to download , copy it and paste it in the following way...
My computers > C Drive > Program files > Your Metatrader folder > experts > indicators

Link 2 goes like these >>>

My computers > C Drive > Program files > Your Metatrader folder > templates
paste it in the template folder...

Close your metatrader and restart it again.....

Right click > template > Forexkhan1

Now we are ready to go.... there are only two conditions to lookout for... simple... but very essential conditions to make profit.....

You will now have 2 different sections... the Lower section has ADX.... I have removed everything else... from ADX and you only have two lines... A blue line and a red line.....

In the candles area... you have three lines
1. a green line which is the 50 ma line.
2. Yellow line - Ed's Moving Average, this is a modified moving average....
3. Red line

This is an old link, go to the first post and download from there the rar file and follow this process
1. Link for Indicator
2. Link for Template

If you are downloading this .... just put a thanks to this post so that we will know how many people are downloading this.... and can study the results.... Hope you will help us in keeping a tab... thanks in advance

The setup in the next post.....

 

[Tavnaz]

Hi Guys,:thumb:
Thank you all for help regarding time frames for lazyboy.
I've been working on lazy boy for a while now.
And well said edward without exit the position is worthless,may i suggest round number for exit like 25,50,75,00.
They are major levels 94% of the time,you exit before them it will be good.
Regards
Tavnaz