Trap 2: Big winner ( +43 pips )
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
How is a Bull trap formed? 3 replies
EUR/USD Scalp 1 min 886 replies
Helper EAs for Semi-auto trading and Manual trap setting 0 replies
15 min indicator on 5 min chart 3 replies
DislikedThere was no retrace to the bottom line, so we don't get an entry.Ignored
DislikedThere is. You allways wait for the retrace by RAZ method.
If not, u are playing breakout ( that I'm testing right now )
Anyway, trade 6: No entry again.Ignored
DislikedGuys, I don't want to argue, but all this "retrace" stuff and "counting 1-5 pips" and "waiting for the perfect V" works 50/50 or even worse than 50/50, because it also filters out some very good trades. raz gave us all the rules in his first post.
forexforex trades very successfully checking with H-1 trend and PA, and it is the best way IMHO. At any case, if you trade in the H-1 direction, your chances are much better with any system.Ignored
DislikedGuys, I don't want to argue, but all this "retrace" stuff and "counting 1-5 pips" and "waiting for the perfect V" works 50/50 or even worse than 50/50, because it also filters out some very good trades. raz gave us all the rules in his first post.
forexforex trades very successfully checking with H-1 trend and PA, and it is the best way IMHO. At any case, if you trade in the H-1 direction, your chances are much better with any system.
As to 'minimising losses" - everybody has his own way, I already told about using loks...Ignored
Dislikedthe success rate increases dramatically if you do this:
if the break of the trap is by 5-6 pips or more, then it is good to go. you may enter and it is more likely to profit.
if the break is by say only 1-4 pips, and then price retraces, the trade is highly likely to fail. do not enter.
even if the break is by 5-6 pips, it is best to enter with half your original position. if price retraces, then you can enter with other half at a better price.
bottom line: wait for a break of 5-6 pips, enter with half position, re-enter with other...Ignored
DislikedGuys, I don't want to argue, but all this "retrace" stuff and "counting 1-5 pips" and "waiting for the perfect V" works 50/50 or even worse than 50/50, because it also filters out some very good trades. raz gave us all the rules in his first post.
forexforex trades very successfully checking with H-1 trend and PA, and it is the best way IMHO. At any case, if you trade in the H-1 direction, your chances are much better with any system.
As to 'minimising losses" - everybody has his own way, I already told about using loks...Ignored