when you draw weekly H/L , you drawing curent weekend or las weekend???
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Dislikedplease post charts with where you got in and out and why, along with some description of the daily, weekly sr fibs etc.Ignored
Dislikedwhen you draw weekly H/L , you drawing curent weekend or las weekend???Ignored
DislikedHey Doom,
its nice to see another touch trader. i am also following this trading approach, but i am still a beginner, thats why my equity is bouncing up and down. its not very easy to pick only the best ones, but maybe i can learn from you
keep on posting
sentinelIgnored
DislikedGreat to know another touch trader Sentinel.
And call me Taz it is fine.
Biggest subject in touch trading is what is the difference between a touch trade and a normal PA trade.
...Ignored
Dislikedyes Taz, thats also my understanding of the difference betweem PA and touch trading.
the main reason for me trading "by the pip reversals" is the large risk-reward ration of course. Being successful at that depends on the setups i take. After a series of some winners, i (maybe driven by overconfidence) took not the best trade scenarios and lost a big portion of my gains.
I fully understand the importance of moneymanagement and since i am learning, i never risk more than 0,5% on each touch-trade. Capital preservation is rule number one.
For...Ignored
DislikedHello Doom
http://img696.imageshack.us/img696/2304/audusde.gif
What are your thoughts on this. Please tell me if i am missing something.
By the way excellent thread. keep up your good thread useful for both newbies and oldies.
Regards
DanIgnored
DislikedThese systems definitely work great but require a lot of patience.. I use resistance points and will trade them but the price is usually far from these points or near them when Im not watching since its 24 hour market.. so I like to have a system and then use these in conjunction as warning or possible side trades..
do you plan on trading this alone with not other systems?Ignored
DislikedHey Guys look what i found.
2 Confluences of Weekly PPZ and 38.2 of big Swing.
Yes we have 150 EMA right at the top.
Do we get a PA here i don't think so,this is Point type confluence.
I will update about this later,let me contemplate this.
Regards
Taz
http://img528.imageshack.us/img528/8530/eurjpyp.gifIgnored
DislikedHey Sentinel,
You have got a very nice blog there. Thanks
As i see your chart i see pure S/R and trendlines.
Another thing i see heroism and lack of patience.
Why would you break even a trade just because you feel a hero,i mean,every trade is not a runner,i know market gurus say that let yous profits run and cut your losses short,but that doesn't mean your let every profit turn into a net break even. [color=Blue]I dont quite understand what you mean. I tried letting my profits run earlier this year, but i did not feel comfortable...Ignored
DislikedHello newyear,
Welcome to my thread.
Any strong PPZ is a strong PPZ and will make a price bounce.
As i already said a touch trade is a touch trade where you place your order and there is no pullback in towards your stop loss.
So i don't think we touch traders need to finnesse our trades.
I just set a pending order at strong bold PPZ and i sometimes increase leverage and increase lots if i have faith.(i dont advice this)
And when i come back i have got many pips.
It is like :
Trader A.
Rides a single wave from one start point.
Trader...Ignored
DislikedGreat Stuff Dan,
You nailed it bro.
This is one of my favorite trades,we have a cause.
A trend(mini) on 4 hr,price retraces and we have confuence.
That was 50 % retrace and PPZ and some TLs too.
And the kabboom what was your profit.
A Quick one or to the pip potential of the trade.
Regards
Taz
http://img502.imageshack.us/img502/7900/audusdo.gifIgnored