For me, if I was in this trade - now I would be getting an alert to make my first decision. As long as it did not hit 1st trouble area, whatever happens is not under my control. Not my part of the deal.
Good luck brother.
Ben
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedisn't it fun to trade the news,just a little gambling like always, market structure and how orders work it can put you easily in this kind of trades
on the cable I didn't added any postion because I'm already in from the 4h BUOB
just for fun purpose
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Disliked15 min chart! Wow, you must have had alot faith in that one, my friend.
Very nice on the Eur/Gbp . . Aaahhh, the 4 hour chart . . . that's better.Ignored
DislikedTime for making some decisions.........
when you are trying to catch up some swing position you must be prepare for a large drawdown, you must have a god mental shape for this kind of trade.you must know yourself otherwise you will suffer a lot if you get emotional with your trades.For me it doesn't bother me at all the DD.
All you need is to know from what points those DD can be a reversal signal,so you can KILL IT
gj is up by 7R= 14%
ej is up by 10R=20%
uj is up by 12R=24%
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Dislikedlol...i basically only trade formations on the 15min not PA. i also use it for entries after i have made up my mind from the longer TFs.
heres an example...not very good ones but i think youlle get the point. i dont post these as obviously they dont belong on this thread, but its amazing what a couple of lines can do for your trading!.
jonIgnored
Dislikedlol...i basically only trade formations on the 15min not PA. i also use it for entries after i have made up my mind from the longer TFs.
heres an example...not very good ones but i think youlle get the point. i dont post these as obviously they dont belong on this thread, but its amazing what a couple of lines can do for your trading!.
jonIgnored
DislikedI see. Using a formation on the lower time frames with the longer time frame PA bias. I like it.Ignored
DislikedWell traded G_J.
Would be good to see how you manage these trades with movement of stops etc.
One question I have (for anyone) is when entering a trade what contract do you open? On most major pairs the spread is somewhere between 2-4 pips for the daily rolling contract. If you keep this position open for a week you would maybe catch a 300 pip move and pay 20 pips or so as spread, which is still quite a lot but acceptable under ther circumstances. However on the minor FX pairs the spread absoultely eats into your profits. For example I was in...Ignored
Dislikedhi mate, i dont think you have this right?? we only pay the spread once when we open the tradewe get the bid, when the trade is running we will always get the ask when we close. Besides that i dont even think bout the spread except when i set my orders, as it is just the cost of trading. and damn cheap too imo lol
hope this helps
jonIgnored
DislikedHi Jon, basically on a rolling contract what happens at the end of each day (8pm for me) is that if you have a position open then it will get closed and a new position opened at that point (SL etc remains the same), hence you are paying the spread each time the position is rolled.
However you can also open positions for longer durations, such as quartlerly or even yearly. For these contracts the spread is larger but smaller than if you rolled every day for that duration.
My question is which contract do you open and how do you judge what contract...Ignored
DislikedHi Jon, basically on a rolling contract what happens at the end of each day (8pm for me) is that if you have a position open then it will get closed and a new position opened at that point (SL etc remains the same), hence you are paying the spread each time the position is rolled.
However you can also open positions for longer durations, such as quartlerly or even yearly. For these contracts the spread is larger but smaller than if you rolled every day for that duration.
My question is which contract do you open and how do you judge what contract...Ignored