DislikedHi Dan,
I can not post any charts as no trading for me today. Just cracked my first beer while waiting for the Foo Fighters concertIgnored
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DislikedHi Dan,
I can not post any charts as no trading for me today. Just cracked my first beer while waiting for the Foo Fighters concertIgnored
DislikedNo probs mate. Checked the charts again and price respected the levels I had so its all good. Hope you enjoyed the concertIgnored
DislikedHi DW, I did not take any trades yesterday as I was a bit busy doing other things ... but when I did have a look at the charts I could not find any entries that I would of taken. There wasnt any clear break, pullback, continuation on EU or GU. AU bounced nicely off the res level which I see happen quite often on pairs, however im not sure of how to range trade. DW you mentioned that when you started trading you were a range trader ...any chance you could give me some more info of you method ?
Cheers
DanIgnored
DislikedWell it was pretty straight forward. I looked at the charts with the belief (and I still do) that the market is range bound more than it trends.
So simply all I was doing was placing lines on the chart to identify where the range extremes were and then was looking for trades from those levels with stops x amount of pips from the edges of the ranges. The only difference back then was that I traded a lot simply from touches of the ranges rather than waiting for a candle to confirm an entry.
So if the market is range bound more than it trends then...Ignored
Disliked
EU 5min .. 2 failed trades today.
Broke sup then retraced showing pinbar at what I thought would be resistance. Tried again as shown on chart and price went the opposite way.
Any suggestions as to what was wrong with my analysis. These were on my demo account but its still just as frustrating
Dan
AttachmentIgnored
DislikedHi Dan,
The first trade was quite a valid entry with rejection at a previous resistance area, a little but unlucky to get spiked out by the bar that moved above that PB. The second one also a valid entry, maybe in a little bit of a congested area though.
Sorry I have not been able to reply a bit sooner I have been a bit busy in the last week ish and probably will be over the next couple of weeks leading into the xmas and new year period, between work and social events there is not much time to be checking out the charts but doing my best to...Ignored
DislikedThanks for taking the time out to reply to my questions, really appreciate it.
Well it seems as if I am taking the correct trades, I just keep getting stopped out.
The frustrating thing is not knowing what I’m doing wrong because every trade I have taken has gone in the exact opposite direction, seriously.. If I had taken the exact opposite side of my trades I would of had a lot of winning trades these past few months. ...Ignored
DislikedHi guys, just wanted to share a nice breakout I traded this morning on m5. News out in 8 mins so I'm out till about 13.30 UK time.Ignored
DislikedI waited for a pullback - I tend to trade in this fashion as I like to have 'double confirmation' that the trend is going in my direction. Seems to work a treat even though I got smashed around a bit yesterday due to the news being all over the place and the world thinking Europe will end.Ignored