DislikedI watch the quotes and 1 minute chart.Ignored
Big Picture Money Management 4 replies
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DislikedWhen I buy the support or sell the resistance I prefer the previous price move to be exhausted.Ignored
DislikedHow do you know when previous price move is exhausted? Is it when you see pause in the movement? What do you mean by "when quotes stop"?Ignored
for traders wanting to see patterns on bid ask price,a good exercise to to start training your eye,
when theirs a rapid increase in price or decline,watch the the buy price if rising or sell price if selling,you will notice the pattern price will go 15411 hit 12 ,14,fill 12 then hit 15 ,16,17,15 ,18 ,then quickly come back to 14 or so,then much quicker will hit 19 ect,you will notice price jumps ,gaps the price will move 7 or so pips and come back and fill the gap before accelerating to make new highs,great for joining a trend and...Ignored
DislikedThat's the tricky part. I wait for 20 pips straight movement for the EUR/USD and 25-30 pips for GBP/USD. The best set up is when the last 1 min candle is at least 10 pips. I also watch the MACD to measure the price swings. The quotes help me to fine tune the entry. Often I buy the bottom and sell the top of a price swing. This is scalping rather than swing, but depends on the level and the position management.Ignored
DislikedHi Srmfx - I like your title and many of your posts are so close to what I've been posting with Medici
Attached is a little indy with an altert that may help people with these wider ranged candles - on the chart this morning its set at 5 pips just to show some action
DislikedQuotes can tell you many things, but not everything. There are many more factors...Ignored
DislikedVery interesting posts on quotes and watching order flow - it seems as if you have found a way to watch order flow in FX, similar to futures but without the DOM.
Thanks for answering my questions.
@chart example : is this 1min - so you enter only once you have detected that a directional move by the BB has been initiated. Now I understand better how your tight stops work.
DislikedI don't trade during the US session and I've missed this trading opportunity.Ignored
DislikedThanks for all this great material srmfx. Your comments on quote watching have really got the old brain whirring.
On this chart, may I ask why you didn't consider shifting the stop under the swing low after the first entry point (but before the second)? I would probably have done this and got stopped out. Are there some guide lines you use in terms of which swings to consider for stop placement?
DislikedHi srmfx, in post #56, what did you mean by "GBP/USD 2B"?Ignored