http://www.forexfactory.com/showthre...01#post6012101 and
http://www.forexfactory.com/showthre...48#post6012148
I got a message from someone it seems about to bust a gut they are so unhappy with their earlier sell and trading in general, asking why I didn't think it was a sell etc etc.
OK first of all I had no clue it wasn't going to go down further, it was an engulfing close from a key SR level. That seems like a decent set up. I didn't know what the market would do I only knew what I would do in reaction to that engulfing close. First of all I wasn't a seller because I knew I wasn't prepared to risk money on 1 candle on 1 TF.
Engulfing close candle - if that was a candle in trend yes absolutely brilliant set up, but it wasn't.
Key SR level - pa was weak on the move down as mentioned well over an hour to move 25 pips was unconvincing.
No 4hr or 1hr divergence.
No 4hr set up candle.
No 1hr LH LL flow to at least give better chance of success. 1hr HH HL flow clearly in tact.
Bottom line we are in a major uptrend from 1.20ish to above 1.30. Thats a lot of up move to take a sell based on 1 candle.
I got the distinct impression the person thought every tdi crossing is a trade. It isn't. The what IF it went down and I missed out idea.
The only thing I can think to say is get a trading plan for trend and CT. The rules are up to you. Could be trading on 1 side of ma only, follow D or 4hr tdi/rsi cosses, trade direction above below tdi/rsi 50 level only. Trade 1hr HH HL or LH LL flow only. Once you have your rules test them out, stick to them, change them only if you see something better (and tested the changes).
That'll give you a fighting chance, trading every tdi crossing won't.
http://www.forexfactory.com/showthre...48#post6012148
I got a message from someone it seems about to bust a gut they are so unhappy with their earlier sell and trading in general, asking why I didn't think it was a sell etc etc.
OK first of all I had no clue it wasn't going to go down further, it was an engulfing close from a key SR level. That seems like a decent set up. I didn't know what the market would do I only knew what I would do in reaction to that engulfing close. First of all I wasn't a seller because I knew I wasn't prepared to risk money on 1 candle on 1 TF.
Engulfing close candle - if that was a candle in trend yes absolutely brilliant set up, but it wasn't.
Key SR level - pa was weak on the move down as mentioned well over an hour to move 25 pips was unconvincing.
No 4hr or 1hr divergence.
No 4hr set up candle.
No 1hr LH LL flow to at least give better chance of success. 1hr HH HL flow clearly in tact.
Bottom line we are in a major uptrend from 1.20ish to above 1.30. Thats a lot of up move to take a sell based on 1 candle.
I got the distinct impression the person thought every tdi crossing is a trade. It isn't. The what IF it went down and I missed out idea.
The only thing I can think to say is get a trading plan for trend and CT. The rules are up to you. Could be trading on 1 side of ma only, follow D or 4hr tdi/rsi cosses, trade direction above below tdi/rsi 50 level only. Trade 1hr HH HL or LH LL flow only. Once you have your rules test them out, stick to them, change them only if you see something better (and tested the changes).
That'll give you a fighting chance, trading every tdi crossing won't.