Swordfih

HI guys,

Would you kindly tell me where you see a difference between the two indicators? Both indicators plots "coloured zones" from previous support and resistance areas.

I don't currently have PFA but APA downloaded from the Angelika's link and from the videos it looks the very same thing to me. Having APA, I noticed zones can be set to be removed automatically, one can lock or unlock zones for adjustment and zones even automatically changes colors when touched by price, which is kinda cool and convenient if you ask me. Hey, it sound I'm selling the dang thing, I'm not, we all can get it from the posted link and $ave the monies ;)

I've fetched this boring webinar on youtube:

http://www.youtube.com/watch?v=awlsFRqHtIM

Hi apple1937,

1.) What if the market doesn't hit your first target and reverse, are you going to exit only by letting the market hits your entry price without making any profits?

If the market didn't moved pass half of my initial risk/profit amount (+5 in the example given) let say +4, which is pathetic IMHO meaning there is something wrong with my initial analysis to take the trade then yes, I will man up exiting the trade with a "full loss" no matter what, ifs or buts. I'll find myself in a hole where I need to dig myself out off but there is always another trade ahead. If the market moved to +5 and reversed then I will be out too but with half the initial risked amount, which might be the lesser of two evils. Next trade, please!

"2.) If the market hits your first target but doesn't hit your 2nd target and reverse, when will you exit rest of your positions?

Yes, I will be exiting ALL open positions at break even +1 when price retrace back to my stop. That would be good trade, not great but good then I will move on up to the next one.

Will you be letting the market hits your entry price too?"

That would be at b/e +1, right?

3.) When the market hits your 1st and 2nd target, you will let rest of your positions to ride with the trend until the market take you out. Based on what criteria or indicator to determine you have ride enough with the trend?

Just price action alone, if I've picked the trend direction correctly, I tend to use the most recent price swing to place my trailing to ride with the trend, unless is one of those fickle days in which the markets behave a little temperamental (if you know what I mean) and tighten my stop is required. Once out, I will decide if it's worth to look for the next trade or call it a day. No need to keep beating a dead horse, right. There will be another day!

There you have it, hope that help, if it not that clear let me know.

Use fib. confluence, to test the price reaction in this levels in conjuction for example, with MACDBB, if the retracement is weak believe the price breack this levels. However think this is a excelent sup./resist. indicator.

Although I don't use the MACDBB, good pointer there. Thx bro.

Nukem,

Here is the latest sales pitch Webinar. You'll find after the presenter stop blowing smoke, there are several interesting points. Wonder if it really works as he claimed.

http://www.screencast.com/users/VideoLibrary/folders/BTTFT/media/618d7920-8bdc-4177-a50f-0722d6965eb5

Scaling Out works for me

In my case, I always look to actively scale out of any given trade, but first and foremost I try to reduce my initial risk to half size and zero short afterwards.

As example if I'm in a trade risking -10 ticks, pips, rocks or what have you, I move my stop to -5 (from -10) after +5 in profit reducing my risk in half at this point (in case market don't cooperate) then moving my stop t0 break even +1 as soon as I have reached what I was risking on the trade, on this case 10, right?

Now, I can't lose and I'm loving it, better yet, in the worst case scenario I'm out covering my broker's commission. Still with me? Good, coz' from this point forward it's like we like to say on this side of the pond "It's All Gravy". A profit it's a profit, it's a profit, it's a profit! I don't care if its 1 or 100 as long as its padding my trading account not funding others people yacht.

First potential target 2X my initial risk where I "dumping" half of my trade size, second target 3X initial risk where I'm looking to shave 1/4 off, after that IF and that's a big if (did you caught that?) the trade rallied, I trail whatever left (usually a 1/4, if my math's serve me right) until the market decides to take me out. At this point I had to give myself a pat on the back and move on and look for the next trade...

Hope it helps. By the way, this is my exit strategy and I don't pretend to know it all or can't guarantee it will work the same for you way but it's works for me 8-).