We have talked a lot about past.
What about present now?
Dilip
What about present now?
Dilip
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DislikedGraeme a big thanks for posts #576 and #578, it helps tremendously. If I may ask --- so when u enter the first trade of the day you find there's no momentum you immediately exit and then look at another pair? Or will you look for an entry again later in the day for the same pair? Reason I ask is some days just seem very hard for example 16th Jun on GU.
Could you advice what entries you would have made on that day for the GU? The yellow line on the chart was the asian open. Whenever price used to get above the yellow line and appear to breakout...Ignored
DislikedHi,
I have been reading your posts (still not all of them, only 5 pages) and it sounded really simple (as you said) and in the same time a lot of profit, less stress (compared to intraday trading) and more time to spend with my family and on my job. So I decided to back test this method:
I used EUR/USD daily chart with a reference to a weekly chart. I started from 2001.01.01. and ended up with 2003.12.31. That is three years total, what is enough to say if the system is profitable or not (i presume). I entered only once per day when I saw a good...Ignored
DislikedAgree with above. cherry picked charts and 20/20 hindsight are great.
But live/demo is a new ball game.
My damn bug has no legs as they keep dieing with the 30pip stop.
I can assure you that this is a very tearful frustrating way to trade as Pipeasy says. Looking at the usdchf one would think,"just sell at every 00 line" but it does not work (FOR ME) unless I open up the stop to a gut wrenching SL level.
Pipeasy is correct- this is the best way to trade and I'm learning a boatload and playing with higher TF now like I used to back in...Ignored
DislikedGood evening, tommbstone
Thank you for sharing. Last 3 weeks on usd/chf is range and im sure many other traders has lost money or extremely frustrated. I still look at this chart but I have moved on with other pairs that are trending currently. I suggest that you move away something like this for now.
Sincerely,
GraemeIgnored
DislikedGood evening, fugly
Thank you for good question.
I do trade the 5min timeframe but not as regularly. With smaller the timeframe, I still apply same focal interpretation but Im more hesitant to enter unless I see something good.
With 5 minute chart or anything lower you are looking for momentum (greater participation of other traders to push your entry into profit). This is represented by momentum after a long bodied candle. Sometimes long bodied candle is ignored by rest of the market, its something we have no control.
This is what I would...Ignored
DislikedMy question is for other US traders (or anyone that might have a view on this). Does anyone have an opinion on trading this methodology in the US due to time issues? It often seems much of the range is done by early morning eastern time. I guess what I am wondering is whether this is a viable methodology from the US if only the NY session is traded?
ThanksIgnored
DislikedHi Graeme,
Early in the week I entered a GBPUSD long trade at 1.5720 and price went up nicely from there. When price got to what appeared to be the top at 1.5962 and suddenly reversed with a strong bearish candle I exited at 1.5870. I exited due to the strong bearish candle and what I believed to be the top of Elloitt Wave 5. Now here is where I struggle to hold onto positions. Because I've been trading for a few years and have been exposed to many different trading systems/methodologies I tend to use some of the tools from my previous systems...Ignored
DislikedIMHO it doesn't matter much when you are trading daily candles. You want trades to last over weeks and hopefully even months, not minutes or hours.Ignored