DislikedAnother trade guys on Usdjpy on 24.05.13.How can u miss these.These will just flash and say trade me short trade me short {image}Ignored
I personally wouldn't trade it just because an M is forming there. What's your definition of PF?
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DislikedAnother trade guys on Usdjpy on 24.05.13.How can u miss these.These will just flash and say trade me short trade me short {image}Ignored
Disliked{quote} Thanks for the honest answer Moloy. 70% sounds like you're a human. Definitely more realistic than the hyped and promised 90% Holy Grail by SM. So feel free to share your losing trades as well That way we can all contribute to everyone's understanding. Welcome to the club Moloy.Ignored
Disliked{quote} What's the reason for this trade? PFL has just formed yesterday (in my opinion), and you went short. Towards the peak formation. Something SM says against. I personally wouldn't trade it just because an M is forming there. What's your definition of PF?Ignored
DislikedIt's not often I'll say anything positive about SM~, however on the rare occasion a half-Batman appears, it seems to work well.Ignored
DislikedMan, that's definitely some new material you put in there. I never touch W1 or MN charts. Steve said it's irrelevant. You only need the past 3-5 days worth of data he said. It's good that you are combining the teaching from other people into your system. Heard of Deville. Never had access to his material though. Everyone will agree with you in regards to the confluence of events. But it's a matter of recognizing these events in the first place that I have trouble with. So far I've listed what works and doesn't in Steve's teaching for me, in my previous...Ignored
DislikedMan, that's definitely some new material you put in there. I never touch W1 or MN charts. Steve said it's irrelevant. You only need the past 3-5 days worth of data he said. It's good that you are combining the teaching from other people into your system. Heard of Deville. Never had access to his material though. Everyone will agree with you in regards to the confluence of events. But it's a matter of recognizing these events in the first place that I have trouble with. So far I've listed what works and doesn't in Steve's teaching for me, in my previous...Ignored
Disliked{quote} @Ishtana.Steve oversimplifies in his teaching, there is nothing in trading that works all the time. He was just trying to highlight the most probable patterns. Everyone is different and sees things slightly differently. I am hopeless at level counting whereas djmoloy71 seems pretty good at it - though he may well just cherry-pick the most recognisable ones, after all we don't need to trade every pair or every day. I think you need to work at your PF recognition because in your comments upon Moloy's UJ short, the ONLY PF on the chart was...Ignored
I don't really quantify level or pushes as PF, I look the quality of the PF. A vector candle off the M/W or H&S is my general confirmation of a PF. And I try not to overtrade, but I admit if I haven't traded anything since Monday, and it's Thursday, I got an itchy finger. But I'm getting better and be more disciplined in taking only pristine setups like SM wanted us to.
Anyway, despite this definition, I still have trouble finding it in the live price chart. Take GBP CAD today. I AM cherry picking an example here, but by doing this I'm addressing the weakness in my system.
I recognized the M as a peak formation, but had I traded this as a safety trade or even a third leg, I would've gotten stopped out. Maybe if I enter now, it becomes the real third leg. But after 2 SL, my mind would've been clouded and I wouldn't have traded this even if it works out well.
This is why I still have not trusted my edge yet.
I'll talk about hi-lo and ADR on my next post.