PO of Buy-stop @ 1.4125
Edit: Order is clicked now.
Edit: SL hit
Wait for next setup and clear market direction.
Here is my chart.
Edit: Order is clicked now.
Edit: SL hit
Wait for next setup and clear market direction.
Here is my chart.
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DislikedHey mongolian and others,
Just wanted to see how many hours you're spending at the charts using this method. While wanting to have ample amount of chart time I am wary of getting burnt out!Ignored
DislikedCheers mate, can I ask what session you trade? I think it was covered somewhere in the thread but I'm being lazy
I'm in Australia so London is good for me (5pm) but I'm working with entries for a longer term setup then. I tried juggling both systems but it fried me big time.
Thinking maybe the Asian session could be worth looking at using this.Ignored
DislikedHey mongolian and others,
Just wanted to see how many hours you're spending at the charts using this method. While wanting to have ample amount of chart time I am wary of getting burnt out!Ignored
DislikedFocus is very important. I was not focus today, I have no concentration on trading today. Ideally I should not trade today (will make a note now)
But today I made many mistakes as in history I can see my mistakes easily, but was hard to see when doing live. But still on live I made mistakes for sure.
Please comments what mistakes I made, so that I can learn. I also found as today I tried to look tick-chart but was looking one min too, may be that was the reason I could not focus.
Thanks in advance.Ignored
DislikedFocus is very important. I was not focus today, I have no concentration on trading today. Ideally I should not trade today (will make a note now)
But today I made many mistakes as in history I can see my mistakes easily, but was hard to see when doing live. But still on live I made mistakes for sure.
Please comments what mistakes I made, so that I can learn. I also found as today I tried to look tick-chart but was looking one min too, may be that was the reason I could not focus.
Thanks in advance.Ignored
DislikedFocus is very important. I was not focus today, I have no concentration on trading today. Ideally I should not trade today (will make a note now)
But today I made many mistakes as in history I can see my mistakes easily, but was hard to see when doing live. But still on live I made mistakes for sure.
Please comments what mistakes I made, so that I can learn. I also found as today I tried to look tick-chart but was looking one min too, may be that was the reason I could not focus.
Thanks in advance.Ignored
DislikedYou have some sort of moving average on the chart - I assume to keep you on the right side of the trend. If this is the case you should have had a bias to the long side. i think it was Ed Seykota who said "the trend is your friend until it ends" and from the chart you posted the trend never really ended. In my humble opinion the safest trades are to trade the pullbacks to the quarter levels going in the direction of your trend indicator. When the trend does turn you will inevitably lose - but that is the cost of doing business.
Just my 2¢ -...Ignored
DislikedYou have some sort of moving average on the chart - I assume to keep you on the right side of the trend. If this is the case you should have had a bias to the long side. i think it was Ed Seykota who said "the trend is your friend until it ends" and from the chart you posted the trend never really ended.Ignored
DislikedHi Enochben,
I had MA on chart but not looking into it. I open a 15 min. chart and take some idea of trend from it some times but normally 1-min 12.5 graph boxes are fine to see the trend.
Now one Question and confusion I have. When or how should I see the reverse in trend. I mean when should I change my bias?Ignored
DislikedThat my friend would be the "HOLY GRAIL"! LOL!
The way I eyeball a trend reversal is a strong close on the other side of the MA. For a more PA eyeball of a reversal one might look for a 1-2-3 reversal pattern (market higher high followed by a lower low and then a lower high).
But trying to pick market turns can become a costly game. I think using this quarter system you can wait and let the market show you the short term trend is over and catch the "next" quarter leg - you don't have to catch the first one - there are plenty!
Big Ups...Ignored
DislikedFocus is very important. I was not focus today, I have no concentration on trading today. Ideally I should not trade today (will make a note now)
But today I made many mistakes as in history I can see my mistakes easily, but was hard to see when doing live. But still on live I made mistakes for sure.
Please comments what mistakes I made, so that I can learn. I also found as today I tried to look tick-chart but was looking one min too, may be that was the reason I could not focus.
Thanks in advance.Ignored
DislikedHi nhen, i agree on this one with Mongolian, it's very individual i guess. You have to monitor your ability to concentrate, one can go for hours and for another 1hour is more than enough. I try to practice 2-3 hours on London and New York open each. 5min exercise or meditation breaks after each hour helps to stay focused.
imho its better to use one system at a time unless you have mastered both of them separately.Ignored