DislikedIgnored
This was an example how to easily catch 20-25 pips with small risk.
You can go for bigger targets on bigger time frames and at a more volatile time like opening session, 15-30 minutes after news...
Script/EA to balance losing trades agianst winning trades 23 replies
Daily Trades = Lazy Trades Journal 7 replies
Reading The Stupid Dogs' Mind 12 replies
DislikedHi Hani,
Thanks for posting the charts. Another question for you, if I may. I know that you always plan your trades before you enter into the market. What exactly do you look at when planning your trades? I know you use pivot levels (do you use your own calculations?) , trendlines, S/R, etc. Do you hold one to be more importantthan the other?
Look forward to your answers when you have the time. Thank you.
LeeIgnored
DislikedFirst day of the second week of the year.
Today is still a day to trade with extra caution.
PL @1.4749
We are trading under PL since the opening.
On Friday, prices went strongly up to test the resistance in the 1.4810-20 levels and have been rejected strongly, showing that the market is not yet ready for such highs, and giving a bias to a test of the dowside @1.4580-1.4600 levels were we may find a good opportunity to buy with a great R:R.
Until PV is broken, I will be in the selling side adding to position on 1.4685-95 break targeting 1.4650, 1.4610.Ignored
QuoteDislikedWhat exactly do I look at when planning my trades...
Well it depends on the way I am trading. I do not trade in just one style. I have positions that I hold for weeks, others for days, hours and even minutes... I interact with the market and for every situation I will be using different technique, different targets and I would be looking to different things.
It can go from basig S/R and candle patterns to more complicated combined techniques and calculations.
What I am trying to post here is an easy way to deal with the market by just using pivot levels, S/R with trendlines and sometimes fibo. for the big picture, while avoiding Big Dogs traps.
I think that the live trades I alreay did in this journal since four months are clear enough to reveal all the 'secret' of this 'bounce or break trading entry technique'.
Keep in mind that PL will differ depending on the broker you are using.
They can be calculated by using simple formulas in an excel sheet, or automatically thru some indicators depending on platforms, or found on many sites.
DislikedHi Hani,
Finally EU broke out of the triangular pattern to the downside. Is it possible to "predict" the probable direction of the break before it happens ?
...Ignored
DislikedHi Hani,
...
Also are there any particular candle patterns you specially watch out for when you are day trading. ?
...Ignored
DislikedThanks Hani for the answers to my questions. Also for the links for the candlesticks patterns. I have also been reading up on the Pivot Point Bounce Strategy (google search). I have a fair idea from watching your trades and will try to incorporate that into my trading plan. Any particular favourite sites where I can read up more on the Pivot Point Strategy you use?
Thanks againIgnored
DislikedHi Hani,
...
I do have a problem sometimes of letting my profit turn into a loss and was wondering how you would remedy such a situation. I have started taking half profits once I am in front and bring my stop to break-even. However I have come across advise about letting the profit ride and also ensuring a wide enough stop in order not to get whip-sawed. Many a times when I do this, I end up turning a winner into a loser. Any advise would be very appreciated as I value your experience highly.
Thanks Hani.Ignored
DislikedGU is doing new lows in expectation of a possible rate cut tomorrow.
PL @1.9740, far away from the current quote.
Minor support @1.9620 under test.
We have a good support @1.9560-80 region where we can buy a bounce targeting 1.9650, 1.9715 with 30 pips SL. Great R:R
An aggressive short would be to sell bounce 1.9645-50 targeting 1.9580 with SL 1.9670Ignored
DislikedThe aggressive short gave +65 pips, and we are currently longing GU from 1.9560 where it bounced yesterday as expected. First target 1.9625 where the PL may stop further recovery until interest rate decition announcement today.
Beware volatility at these time and try not to trade 30 minutes before and after the news until the markets make up their mind about the direction it will choose to take.
There's an important support @1.9490-1.9500 and 1.9405-1.9420 where we may reenter longs if SL is hit.
First major resistance @1.9835, with 1.9708 and 1.9760 as interim resistances.
Safe trade to all.Ignored
DislikedWatch closely 1.9549 break as it will open the way to an aggressive short trade targeting 1.9504
You may use this break as a hedge postion entry to protect your long trade, or close and reverse (C&R) the trade, then C&R again around 1.9500Ignored
DislikedHi Haniam,
Nearly 3am, about to head off to bed for a brief shut eye...
Just read the thread...great stuff and wished I had read it before going live. My trading has been consistent over the past two months - consistently losing -
I need to get my act together quickly. Emotions have been my biggest problem, oh yes and the false belief that this is easy after successful demo trading...what a joke!
Well, all your points made are very valid and I am looking forward to the year ahead.
Thanks for your efforts and am looking forward to learning from you
Oromis.Ignored
DislikedWell, the bIG dOGS are certainly smiling today after their victory over me, and I'm sure many others, after the events of the past twenty four hours.Ignored