Random coin toss probability have 50% win ratio but can not apply that in trading with tight SL like 15 pips there is lot of SL hunt in 15 pips SL
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DislikedHey Max. Thanks for the chart, muchly appreciated. I have a question. I noticed the GBP CPI is due in the next half hour, would you recommend these levels once the news is dealt? I have to admit here that my fundamentals aren't the greatest so I tend to side line and deal with the mopping upIgnored
Disliked{quote} depends on the normal volatility caused by the news item, in this case it wouldn't really stop me, but you know 9 out of ten you will find that the entry aligns with news which is why you get the classic scenario of Fundi people saying the price is Fundi driven and the TA saying it is technical driven. chicken and egg I guess. I am personally more interested to see what indications the PA gives me in the bubble to justify an entry.Ignored
DislikedThis is my random entry testing 34% win ratio there was 10 consecutive loss 3 times between 195 trades, this is perfect example martingale system never works in the random trading {image}Ignored
DislikedThis is my random entry testing 34% win ratio there was 10 consecutive loss 3 times between 195 trades, this is perfect example martingale system never works in the random trading {image}Ignored
DislikedYes Matt I 'm with you on this type of trading check this chart out Aud/Cad just pierced it's 40 day average which the 4 hr chart shows... .97500 should provide the next closest support and on the 30m chart it shows how price bounced off 11/3 weekly low and kept going south how much further it goes? who knows but it should be a good one.... {image} {image}Ignored
Disliked{quote} Hey Owl. do you still have any of those shorts still open? Nice callIgnored
Disliked{quote} Thanks Matt Yes sir I should've put more pending orders on the swing low last night because I sleep during london and I usually place pending order in the direction I want and like for it to go but yes I still do got my 4 sell trades in and I just placed a pending order under the tail of the last low..Price did indeed pierce .97500 although it's come back to around that area now... I felt good all along about this setup because price has broke retested and kept going on off it's weekly low along with the 40 day average... Here they are though:...Ignored
Disliked{quote} Very nice sweep, looks like it's your next shout at the bar (I mean buy us drinks not scream at it) I must have passed over this pair a few times but it's definitely not one of major currencies I use. Going back over the history I can't believe how much it trends. It may have something to do with the correlation of our countries commodities (Aussie here) especially minerals. But anyway fundamentals not my strong suit. I will be studying this pair more closely from here forwards. Do you have an exit strategy or just pa?Ignored
Disliked{quote} Yes Aud/Cad is like my girl!!!! I like the way it moves so much..... Seriously though it is a great pair to trade because of the moves it makes although I'm not quite sure why it's so liquid...and yes I gauge pure PA to determine exitIgnored