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JCAnderson Feb 16, 2019 2:34pm | Post# 121

From my experience, both these timeframes are useful. As usual, I use three main timeframes in one window: 5M, 15M and daily. As an alternative, it is possible to use combination of 1M, 5M and 1H - in depends on your strategy.

rudy5 Feb 16, 2019 9:21pm | Post# 122

Dang watching M1 and daily together is quite the gap.

In my mind regardless of the entry time frame youre watching you gotta be aware of the bigger daily levels. Even weekly zones, cuz thats where the longer term strong/weak fundamentals will come into play.

jmflukeiii Feb 16, 2019 9:59pm | Post# 123

Dang watching M1 and daily together is quite the gap. In my mind regardless of the entry time frame youre watching you gotta be aware of the bigger daily levels. Even weekly zones, cuz thats where the longer term strong/weak fundamentals will come into play.
Somewhat, but were talking about making 5 to 10 pip scalps here. There can also be too much information leading to paralysis... which goes back to what Veni said, something along the lines of just take the trade.

rudy5 Feb 17, 2019 3:24pm | Post# 124

Indeed.

However we get paid to analyze information correctly. So it would make sense then that the more info you can appropriately analyze (whats important, whats not, and everything in between) the more profit potential there is.

Is it it all worth it? Not for everyone. Just depends on what your goals are with trading

fxprimate Feb 17, 2019 3:43pm | Post# 125

Indeed. However we get paid to analyze information correctly. So it would make sense then that the more info you can appropriately analyze (what’s important, what’s not, and everything in between) the more profit potential there is. Is it it all worth it? Not for everyone. Just depends on what your goals are with trading
You don't need any analysis, on the contrary the simpler the better.
What you need to know is how this greedy game work.

Edit:
Think what you want ... and feel free not to believe me
Have a good week

rudy5 Feb 17, 2019 6:59pm | Post# 126

Lol. So is your screen turned off while you trade?

dont tell the banks, they’re wasting millions on analysts every year!

Dont get me wrong I think I understand where you’re coming from. I just think it coulda been said better lol

sharingan9 Feb 20, 2019 3:41pm | Post# 127

{quote} I took some textbook trades from page one {quote} .. and support becomes resistance.. and vice versa.
The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned support will destroy your trade

Sesamstrasse Feb 20, 2019 4:08pm | Post# 128

{quote} 1.The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. 2.You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned...
1. I can 't see any issue .. works fine ..
2. No thanks.. I m good.

✌Guido

fxprimate Feb 20, 2019 7:04pm | Post# 129

{quote} The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned support will destroy your trade
You need to understand how this game works.

The rest its the usual ... discipline, do not be greedy, keep the losses short, etc ...

sharingan9 Feb 20, 2019 7:37pm | Post# 130

{quote} 1. I can 't see any issue .. works fine .. 2. No thanks.. I m good. ✌Guido
1. You can see the issue clearly, but I will highlight them for you: OP decided to leave because few people are using the system. Few people are using this system because it generates losses in strong trends/strong s/r when you follow original rules(range can turn into a trend whenever) with out adding things to it as the you, others and the OP have done throughout the thread.

2. I do not doubt that you are a great trader, but I know the first page rules are not the only rules you follow because you have taken different types of trade setups in this very thread such as channel breakouts than you commented saying you "took some textbook trades". The fact that you had to specify you took some textbook trades shows that you have been taking trades that are NOT textbook and do not follow the exact rules. So stop lying to yourself and others to make a point.

Keep getting more pips, and God Bless you and your family

sharingan9 Feb 20, 2019 7:47pm | Post# 131

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{quote} You need to understand how this game works. The rest its the usual ... discipline, do not be greedy, keep the losses short, etc ...
I am sure you are an excellent trader and I would never presume that you are a rookie trader. I would appreciate it if you would extend me that very same courtesy and do not presume that I am a rookie trader and not attempt to educate me on basic "babypips" trading fundamentals such as discipline, greed, and keeping losses short all of which I am fully aware, all of which I fully understand, all of which I implement. So please do not presume anything without context. My last year's results:


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I keep my losses very short...........when I have them

fxprimate Feb 20, 2019 7:58pm | Post# 132

{quote} I am sure you are an excellent trader and I would never presume that you are a rookie trader. I would appreciate it if you would extend me that very same courtesy and do not presume that I am a rookie trader and not attempt to educate me on basic "babypips" trading fundamentals such as discipline, greed, and keeping losses short all of which I am fully aware, all of which I fully understand, all of which I implement. So please do not presume anything without context. My last year's results: {image} I keep my losses very short...........when...
Congratulations

rudy5 Feb 21, 2019 1:46pm | Post# 133

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Hmmmm seems you are a very good trader

took a little scalp short here to catch it as it fell back within the last swing high. Classic first page trade, but context is everything
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Orangejuice Feb 22, 2019 7:14am | Post# 134

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Thanks for sharing Man.

Training live with lower lots until I get the hang of it. I exited this with +1.6 pips but I could have gotten more.

How do you determine when to exit? I'm guessing experience plays a big part.

Here is EU
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NathanAstel Feb 22, 2019 11:11am | Post# 135

Forex trading is hard , its true but most hard is news trading , i have lost so much money only during news from my first step of trading. just nothing to say.

T4Trade Feb 22, 2019 11:13am | Post# 136

Forex trading is hard , its true but most hard is news trading , i have lost so much money only during news from my first step of trading. just nothing to say.
this happens to rookie traders,i also lost my first account on draghi news,ever since then i dont trade news at all.trading news is not intelligent because we can not fight with banks.
Trading manually is really difficult,when i was newbie or i learnt trading for few years,whenver i place order,it goes against me,because retail trades are being manipulated by brokers and MM.so its a hard game,but one can win with lots of hard work and intelligence.

rudy5 Feb 22, 2019 12:53pm | Post# 137

Thanks for sharing Man. Training live with lower lots until I get the hang of it. I exited this with +1.6 pips but I could have gotten more. How do you determine when to exit? I'm guessing experience plays a big part. Here is EU {image}
The easiest targets are 50 retracement a or previous swing highs/lows. Im not sure about a long there, but the structure that formed last time price was down there looks a lot like an accumulation so had you gotten in on that one its clear to see price went back to prior big swing low

Orangejuice Feb 23, 2019 12:24am | Post# 138

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{quote} The easiest targets are 50 retracement a or previous swing highs/lows. Im not sure about a long there, but the structure that formed last time price was down there looks a lot like an accumulation so had you gotten in on that one its clear to see price went back to prior big swing low
Thanks, so targeting the 50% retracement should be a standard or a fixed 5pips tp.

I was only picking trades with possible reversals and only focus on scalping a few pips.
Need to work more on PA reading skills and practicing.

Exited around this area
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rudy5 Feb 23, 2019 12:33am | Post# 139

Yeah that would be a good target.

Id avoid the fixed pip target as youre trying to force the market to fit your target and your either asking for too much or not enough in 99% of the trades. Focus on the PA and set your targets based on the market.

Pickles Feb 23, 2019 1:05am | Post# 140

Y\\Id avoid the fixed pip target as youre trying to force the market to fit your target and your either asking for too much or not enough in 99% of the trades. Focus on the PA and set your targets based on the market.
So much truth in this..


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