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Trading Made Simple

Today is Friday,

EU Nov08

- H4 price action

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
AJ Nov 08

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
XAU Nov08

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Haven't traded much this week but entered on AU this morning.
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Quick 20pips on SELL AUDJPY H4 timeframe with TP at ADR Low

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Also have SELL AUDCHF and BUY GBPAUD but at this stage not much movement.
Quoting emmanuel7788
AJ Nov 08 {image} ...

Good to close at BRN 101.00 before New York open.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Today is Friday, EU Nov08 - H4 price action {image} ...

Closing before New York open... Rule #16

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
XAU Nov08 {image} ...

Closing before New York open ... Rule#16

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Click to Enlarge Name: XAU Nov08 UPPDATE close Rule#16 8-11-2024 7-22-34 pm.png Size: 23 KB

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} Nov 07 was not an easy day just after the US elections results, nevertheless still manage my daily average by picking trades carefully. {image}
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...

Closing today' intraday trades and this week ,

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
EU short taken a while ago.
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Anyone trade from 6 hours chart? I found it less stressful.
Took short on Eur/USD
0,5% risk
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Quoting lynnc
EU short taken a while ago. {image}
Taken the trade out as its Friday evening and got just over 4R nice way to end the week
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Quoting MoHoSK
Anyone trade from 6 hours chart? I found it less stressful. Took short on Eur/USD 0,5% risk {image}
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on your 6Hr chart the setup was a DIB and the sell entry was 2 candles ago.

the 5-Method works in all timeframes...




..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
GBPAUD Buy 50pips
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AUDCHF Sell 11pips
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Quoting lynnc
{quote}Taken the trade out as its Friday evening and got just over 4R nice way to end the week {image}
@lyncc

I don't see a 4R trade. Looking at the price action and your entry and exit, that trade was only +2Rish

Looking at the last swing high on your chart, your stop loss would be above the last swing high ... that's 26pips SL and there was no True REVERSAL at that entry candle according to Big E' post #261.

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If you had really traded with Risk to Reward 1 to 4,

you would be rich after 630 trades and you only need to trade once-a-day.

but the when I look at your chart with all the stuff added on it, I know the reasons why you have not been profitable the last 5+years.

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Big E was right when he picked "Trading Made Simple" as this thread' title from all the proposals made in his old thread.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting shertiger
GBPAUD Buy 50pips {image} AUDCHF Sell 11pips {image}

@shertiger

both winning trades are good.

to be a successful trader you need to have consistency over a time period and a series of trades.

setting SMART targets in your trading business is key.


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} @shertiger both winning trades are good. to be a successful trader you need to have consistency over a time period and a series of trades. setting SMART targets in your trading business is key. ...
Thanks Emmanuel. Totally agree with what you are saying. At this stage in my journey I want to focus on catching the right setups and then turn my focus onto trade management. :-)
Quoting emmanuel7788
{quote} @lyncc I don't see a 4R trade. Looking at the price action and your entry and exit, that trade was only +2Rish Looking at the last swing high on your chart, your stop loss would be above the last swing high ... that's 26pips SL and there was no True REVERSAL at that entry candle according to Big E' post #261. {image} If you had really traded with Risk to Reward 1 to 4, you would be rich after 630 trades and you only need to trade once-a-day. but the when I look at your chart with all the stuff added on it, I know the reasons why you have...
My stop was just above the previous black candle, 13 pips and the take profit was around 53.5pips so roughly 4R.
Quoting lynnc
{quote}My stop was just above the previous black candle, 13 pips and the take profit was around 53.5pips so roughly 4R.

@lyncc

You took that sell in sideways market conditions if you had followed post #261 and post #647 there would not be any trade.
Looking at the price action, your sell entry into recent swing high/swing low.

You only posted that when it turned out to be profitable trade.

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} @lyncc You took that sell in sideways market conditions if you had followed post #261 and post #647 there would not be any trade. Looking at the price action, your sell entry into recent swing high/swing low. You only posted that when it turned out to be profitable trade. {image} ...
At the risk of repeating myself, I like to see the 4hr chart agreeing with my trade. If I look at the h4 at the time of taking the trade it doesn't look too bullish to me.
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Now, why don't you get on with your own trading and save your advice for people that ask you for it.
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