I got the point. Metaphorically speaking, it's like taking pictures of an object. A photographer should adjust her/his camera (lenses, speed etc) so as to be able to take different object in various conditions and background. Examples you gave me ...

Yes, every trader has her/his own preference. What we do in trading reflects who we are--our personality. My thought says that it's not money but a feeling of tranquility that can make me a good trader; tranquility which I can get out of a setup ...

I like the smily As a newbie I can only guess what you mean by "dynamic parameters". Do you refer to the ability to make adjusments to whatever in my way of interpreting the market (e.g., indicators)? I would like to be more aware of this kind ...

Somewhere in this forum I wrote that I look at ALL timeframe--well, nearly all. I don't stop at H4 but go lower to H1 (to confirm the trend exists in that time frame) and M5 (where I enter a trade). M5 suits me well enough. I have ordinary ...

Thanks for sharing of the system. Maybe you would give more thought on the entry bar. Up to my writing of this reply, you don't say anything on the entry bar, except that it should be higher than the pullback bar. Here is my humble thought--as a ...

How about being consistent in profit--small and large?

Guess the system doesn't work no more?

My comment about the bold part: It's logically true if one uses longer time frames (D1, W1, MN) but scalpers can find good setups every day. Just my humble opinion. I'm a newbie though.

Thank you for your reply. So, EU, a high probability of breakout strategy and 70 pip SL. Really makes sense for me. Concerning the big question, how would you know when he left part of equation is higher?

Yes, I agree with you. Any pair has its behaviour of its own; that's how I would like to think of them. Thanks for your insight.

Thank you, nanningbob. You've just convinced me I'm on the right track. And I'll do your advice.

Are you saying that there should be a solid strategy/ method behind a no SL trading? And that strategy should be based on MN and W1 timeframe?

Would you be kindly letting me know which pair you trade with 70 pip SL? That kind of information can only come out of experience and a newbie like me lack of it. Thanks

Thanks for your comment. Of course, it does not guarantee the price will go in the same direction as before. It's just that when one doesn't use SL, s/he should has some theoretical and empirical reason as to why a SL isn't needed. For me, it lies ...

First off, only when I'm sure the trade will be a winner. How? Look for a trend in ALL timeframe: MN + W1 + D1 + H4 Open position in M5 (here I use Heiken Ashi + EMA36). The MN image The W1 image The D1 image The H4 image First trade +261 after ...

Hi PipinStein, Thank you for your tip on big stop/ big margin. I couldn't agree more. The trade was started with a M5 chart and H1 for the trend bias (H1 was down trending). SL was previous high. After the trade went well, I took a look at D1, W1 ...

Thanks, Chicky. It means a lot for a newbie

Newbie here. Here is my humble thought as a newbie. I've read all your technical analysis and got confused. For me, seeing the MN chart below is enough to say that EU will go down further. image

Sell EU on 2014/07/22 at 1.34631. Now it's around 1.33800 and keep trending down. Started with M5 chart but in line with MN, W1 and D1, this could be a huuuge TP. image