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TOPIC: Apply Ross Hook Trading (+TTE) in the Forex Market

Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #67

  • Manus168
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At this afternoon (afer the London Market open) I look the GBP/USD at m15 and m5 timeframes looks like getting sideways so I marked in a square so after the GBP/USD already breakout and close above the box and I'm waiting the GBP/USD back to retrace and form a Ross Hook and I put the Pending Order: BUY STOP Order@ 1.45536 (above the Hook + spread 1.5 Pips) with the TP 10 pips profit and not so long after the Pending Order Done the TP gonna hit 10 pips. and here's the screenshoot:

Last Edit: 1 year 7 months ago by Manus168.
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Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #68

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Hi Charlie,

very nice trade and your thought process and entry has been spot on. I use filters based on the daily chart on most of my intraday-trades too.

One thought I had while looking at your trade example was that if you have trades that go that far more on a regular basis, you almost certainly would profit from not taking any contracts off before the trailing stop hits. My advice would be to go through all of your recorded trades and see if that's actually true. For most traders it is, even though it's psychologically more challenging to not take the "quick profits" it's something that often makes the difference between a good and an excellent long-term performance!

Thanks for sharing!

Marco
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Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #69

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Nice no-pain trade Manus, they don't get much easier than this :)

On a situation like where the market is liquid enough and a pullback already happened, you might want to experiment by getting in a few pips earlier using the TTE instead of the RH.

Thanks for sharing!

Marco
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Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #70

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marco wrote:
Nice no-pain trade Manus, they don't get much easier than this :)

On a situation like where the market is liquid enough and a pullback already happened, you might want to experiment by getting in a few pips earlier using the TTE instead of the RH.

Thanks for sharing!

Marco

You're welcome Marco, I will remember and try next time for the TTE's trade. For this trade I just follow the Joe's idea's for his Major Entry signal after market sideways (I found the Measuring Bar) and they breakout and form the Ross Hook he (Joe's) usually will take the violated Ross Hook like My trade today as his Major entry signal .
Last Edit: 1 year 7 months ago by Manus168.
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Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #71

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The uptrend in GBP continues.



I waited for correction an bought the first RH up on 5 minutes.



I closed my position based on 2 reasons:
- the 3rd up bar was kind too long for me.
- we will have a economic data in 10 min in GBP.

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Apply Ross Hook Trading (+TTE) in the Forex Market 1 year 7 months ago #72

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It seems that I did a good job in that short time position.



never let hope be your advisor, just trade what you see :)
Last Edit: 1 year 7 months ago by charlie_brown.
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