Hi David ...
After reviewing the 5m (and the 4hr and Daily), oh my, weren't you sorta commiting seppuku by going SHORT? That trade really should never have been taken, cuz not only were you going against the longer-term trends, but market was in a consolidation, as well (and small ranging ones at that - which is evident in the 4hr).
However, for discussion and review of fti's dancing style ... let's say that even if fti took that trade, and let's say he entered where you did (although, he absolutely wouldn't have), but let's just say even if he did, he would have exited that trade with about 25 pips per troop profit and gotten out of the trade before it turned against him that severely, as shown in his example of one of his dance steps --> Post #1462
If you compare the example I just linked, you can see that the scenario is almost the same except for where the price resumes going SHORT while yours reverses into going LONG. Going back to your illustration/example, once fti saw the PA reversing from 4:00 (according to the timezone setting on my 5m chart example), he would have exited any and all positions had he had any left in (or reversed into the position thus going LONG and entered attacks - I don't like to do that myself, haha, cuz I prefer to exit and then reassess any new positions, but I know he has done it --> on a ride-along where we were trading together, when it was reversing he said he was going to reverse his position and asked me if I was going to do the same, and I said, "NO WAY," lol, and I said "good luck" and "goodnight," and I exited and went to bed, while he reversed his position and continued to trade).
I think this is a good post by fti to reread regarding how (at the bank) he's had to take over the book if after his juniors and seniors couldn't rescue a self destructive trade. He also talks about Elliott Waves, which I remember him mentioning to me in the private tutorings (I'll see if I can find more discussion he did with me on that and post it later) --> Post #882
As we can see by his post, there's no way to bring the book out of a mess like that without a HUGE resource capital. We also don't have fti to take over our book (as BabeFX mentioned). So, we need to not take trades that could lead to self-destruction.
David ... are you still trading on the longer-term timeframes? Most of us look at the longer-term timeframes for reference of the trend (btw, I have readded the Daily to my trend assessment window after your "dead in the water" post, lol), but I'm talking about "trading on" meaning, you are not using the 5m, but instead using the 1hr for your entries and exits? At first I thought maybe you just used the 1hr timeframe for your example since the 5m would be too hard to show the entire move of the PA in one chart, but now I'm wondering.
.
After reviewing the 5m (and the 4hr and Daily), oh my, weren't you sorta commiting seppuku by going SHORT? That trade really should never have been taken, cuz not only were you going against the longer-term trends, but market was in a consolidation, as well (and small ranging ones at that - which is evident in the 4hr).
However, for discussion and review of fti's dancing style ... let's say that even if fti took that trade, and let's say he entered where you did (although, he absolutely wouldn't have), but let's just say even if he did, he would have exited that trade with about 25 pips per troop profit and gotten out of the trade before it turned against him that severely, as shown in his example of one of his dance steps --> Post #1462
If you compare the example I just linked, you can see that the scenario is almost the same except for where the price resumes going SHORT while yours reverses into going LONG. Going back to your illustration/example, once fti saw the PA reversing from 4:00 (according to the timezone setting on my 5m chart example), he would have exited any and all positions had he had any left in (or reversed into the position thus going LONG and entered attacks - I don't like to do that myself, haha, cuz I prefer to exit and then reassess any new positions, but I know he has done it --> on a ride-along where we were trading together, when it was reversing he said he was going to reverse his position and asked me if I was going to do the same, and I said, "NO WAY," lol, and I said "good luck" and "goodnight," and I exited and went to bed, while he reversed his position and continued to trade).
I think this is a good post by fti to reread regarding how (at the bank) he's had to take over the book if after his juniors and seniors couldn't rescue a self destructive trade. He also talks about Elliott Waves, which I remember him mentioning to me in the private tutorings (I'll see if I can find more discussion he did with me on that and post it later) --> Post #882
As we can see by his post, there's no way to bring the book out of a mess like that without a HUGE resource capital. We also don't have fti to take over our book (as BabeFX mentioned). So, we need to not take trades that could lead to self-destruction.
David ... are you still trading on the longer-term timeframes? Most of us look at the longer-term timeframes for reference of the trend (btw, I have readded the Daily to my trend assessment window after your "dead in the water" post, lol), but I'm talking about "trading on" meaning, you are not using the 5m, but instead using the 1hr for your entries and exits? At first I thought maybe you just used the 1hr timeframe for your example since the 5m would be too hard to show the entire move of the PA in one chart, but now I'm wondering.
.
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