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Price is Everything Chat Room

  • #741
  • Nov 23, 2011 2:40pm Nov 23, 2011 2:40pm
Quoting emene
As it is the chatroom here, i want to do a littel survey on psychology guys.

What do you hate the most :

1) Getting your inital stop hit although it was a good setup.

OR

2) Having a trade going your way, seeing it come back from far away, just to hit your break even and go the other way.

OR

3) Close a trade with a few pips and see it go 200 pips in your direction without you, although it was your plan (often because of the fear of situation 2).

OR

4) Price hits your stop on your perfect set-up and then flies in your direction.

I'll...
They all suck pretty badly

1, 2 and 4 are often avoidable using common sense

I try to avoid number 2 as much as I can, leaving me stuck with number 3 quite often.

So yes, it's no.3 for me
  • #742
  • Nov 23, 2011 5:26pm Nov 23, 2011 5:26pm
Quoting emene
As it is the chatroom here, i want to do a littel survey on psychology guys.

What do you hate the most :

1) Getting your inital stop hit although it was a good setup.

OR

2) Having a trade going your way, seeing it come back from far away, just to hit your break even and go the other way.

OR

3) Close a trade with a few pips and see it go 200 pips in your direction without you, although it was your plan (often because of the fear of situation 2).

OR

4) Price hits your stop on your perfect set-up and then flies in your direction.

I'll...
same.... i could give u a dozen examples.
dont really use SL's except when im off the comp. but yes, 3 is the worst feeling ever.

1 is also a problem but minor minor.. u sometiems go a little early and that has its cons.

so 1 and 3 for me
Have I got something on my face, SOLDIER?
  • #743
  • Nov 23, 2011 7:56pm Nov 23, 2011 7:56pm
Quoting emene
As it is the chatroom here, i want to do a littel survey on psychology guys.

What do you hate the most :

1) Getting your inital stop hit although it was a good setup.

OR

2) Having a trade going your way, seeing it come back from far away, just to hit your break even and go the other way.

OR

3) Close a trade with a few pips and see it go 200 pips in your direction without you, although it was your plan (often because of the fear of situation 2).

OR

4) Price hits your stop on your perfect set-up and then flies in your direction.

I'll...
For me no 2 and no 3, happens many times ...
  • #744
  • Nov 23, 2011 9:14pm Nov 23, 2011 9:14pm
dammit eu popped 50+ i got only 7?!!

f- me
Have I got something on my face, SOLDIER?
  • #745
  • Nov 23, 2011 9:52pm Nov 23, 2011 9:52pm
Quoting bumapatria
dammit eu popped 50+ i got only 7?!!

f- me
it's okay bro,,, still in profit eh?? be glad of that...
lolz
TRADING IS SIMPLE BUT NOT EAZY
  • #746
  • Nov 23, 2011 10:01pm Nov 23, 2011 10:01pm
Quoting green_trader
it's okay bro,,, still in profit eh?? be glad of that...
lolz
yeah but not as much. my target is even around those highs, but i needed to go out and i couldnt set BE SL yet the modify pips minimum iddnt reach.

anyways..."+7"
Have I got something on my face, SOLDIER?
  • #747
  • Nov 24, 2011 8:02am Nov 24, 2011 8:02am
Quoting emene
As it is the chatroom here, i want to do a littel survey on psychology guys.

What do you hate the most :

1) Getting your inital stop hit although it was a good setup.

OR

2) Having a trade going your way, seeing it come back from far away, just to hit your break even and go the other way.

OR

3) Close a trade with a few pips and see it go 200 pips in your direction without you, although it was your plan (often because of the fear of situation 2).

OR

4) Price hits your stop on your perfect set-up and then flies in your direction.

I'll...
me, situation 4. this is very annoying .

And, this my view about the other situation.

 

  1. ah, its okay, at least I save from the reversal wave.

  2. This is better then number 1 If I'm not win then I don't wanna lose either. (Defend and Counter attack)

  3. I never worries about this. Cause I never cut my postion. After I open a new position, I will set my stoploss and takeprofit. and let my position run then i will go to forex factory and read or reply a thread.
    This is good for psychology, I will free from greed and fear.

- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #748
  • Nov 24, 2011 8:20am Nov 24, 2011 8:20am
Quoting bumapatria
yeah but not as much. my target is even around those highs, but i needed to go out and i couldnt set BE SL yet the modify pips minimum iddnt reach.

anyways..."+7"
Do you trade 15m at all?

I know everyone loves to be on the 5m/1m, but IMO, 15m is one of the most cleanest intraday PA timeframes that there are. Very rarely lies, and targets/stop areas are clean as well.

And... average 15m play takes approximately 1-3 hours to play out. So you can go into it knowing your going to setting with it for a while.
  • #749
  • Nov 24, 2011 8:27am Nov 24, 2011 8:27am
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- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #750
  • Nov 24, 2011 8:32am Nov 24, 2011 8:32am
Quoting Venice
Do you trade 15m at all?

I know everyone loves to be on the 5m/1m, but IMO, 15m is one of the most cleanest intraday PA timeframes that there are. Very rarely lies, and targets/stop areas are clean as well.

And... average 15m play takes approximately 1-3 hours to play out. So you can go into it knowing your going to setting with it for a while.
Hi Venice, in my opinion higher timeframes cleaner chart, but less PA (supply demand) can be spotted. so less play and less loss(oh,less loss, no no no this is not any exception).

Lower timeframe more PA (supply demand) can be spotted. more opportunity to open a trade and shorter time to play with, and risk will bigger

Correct me if I'm wrong
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #751
  • Nov 24, 2011 8:46am Nov 24, 2011 8:46am
Quoting Du Jin Shan
Hi Venice, in my opinion higher timeframes cleaner chart, but less PA (supply demand) can be spotted. so less play and less loss(oh,less loss, no no no this is not any exception).

Lower timeframe more PA (supply demand) can be spotted. more opportunity to open a trade and shorter time to play with, and risk will bigger

Correct me if I'm wrong
Well... what do you mean by less pa? There is the same amount of pa over an extended period of time. If you are focused on just one day, then yes your statement would be true.

However, the higher up on the time frame you go, the more power a supply/demand area has, and the likely hood if it not having any power dimenishes.

On the flip side, on the 1m, 5m charts etc, you get a lot more setups. There is also the possibility of the demand/supply zone being a weak one and price ignoring it.

I know from my stats alone that I am far more accurate on the higher time frames. The 1m is my weakest time frame. Sometimes levels built by the 1m are simply ignored, or do enough just to create a mini bounce.

Keep in mind though, a loss on the daily will cost me about 50-70 pips, a loss on the 5m will be about 10-20, and a loss on the 1m will be about 5-7. It's all relative, is what I am trying to convey.

Lower time frame = more setups, tighter risk, small to medium reward.
Higher time frame = less setups, less risk (relative to probability), big reward.

On the daily chart, I am looking for at a minimum of a 150 pip trade. And generally the average intake is around 250-500. But of course this is over the course of a few weeks too.

Hope my perspective can give you a bit of insight. When I look at my charts, if I didn't have something telling me what time frame I am currently on, the highs and lows are (to determine the span); I would not be able to tell if it was a 1m chart or a daily or weekly chart. It all looks exactly the same to me, and I trade them all the same.
  • #752
  • Nov 24, 2011 9:04am Nov 24, 2011 9:04am
Quoting Venice
Hope my perspective can give you a bit of insight. When I look at my charts, if I didn't have something telling me what time frame I am currently on, the highs and lows are (to determine the span); I would not be able to tell if it was a 1m chart or a daily or weekly chart. It all looks exactly the same to me, and I trade them all the same.
Thanks for your reply Venice.
pretty clear for me.

Quoting Venice
Well... what do you mean by less pa? There is the same amount of pa over an extended period of time. If you are focused on just one day, then yes your statement would be true.
I'm sorry for the misinformation. I mean the higher timeframe e.g H1 or m30 or m15 .have less PA if compare with the M5 timeframe.


Quoting Venice
However, the higher up on the time frame you go, the more power a supply/demand area has, and the likely hood if it not having any power dimenishes.

On the flip side, on the 1m, 5m charts etc, you get a lot more setups. There is also the possibility of the demand/supply zone being a weak one and price ignoring it.

I know from my stats alone that I am far more accurate on the higher time frames. The 1m is my weakest time frame. Sometimes levels built by the 1m are simply ignored, or do enough just to create a mini bounce.

Keep in mind...

I'm sorry . but I'm really confuse why Reds and the other fellow PIE trader trade on lower timeframe like M5.
Maybe the experience will prove this.
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #753
  • Nov 24, 2011 9:07am Nov 24, 2011 9:07am
Quoting Du Jin Shan
Thanks for your reply Venice.
pretty clear for me.



I'm sorry for the misinformation. I mean the higher timeframe e.g H1 .have less PA if compare with the M5 timeframe.





I'm sorry . but I'm really confuse why Reds and the other fellow PIE trader trade on lower timeframe like M5.
Maybe the experience will prove this.
Yes; experience is everything in this game. I personally prefer the 15m ... but will take shots at the 5m and 1m if I see good setups. When I do say they are less accurate, it doesn't mean there are still plenty of good probability trades. My accuracy drops to about 75-80% on the 5m. My daily chart accuracy is 97.6% right now... 15m is right in at 91.2%. (Can you tell I love stats? hah). I have every single trade I take logged, and which time frame it was taken on is just a piece of the puzzle.

I do work a day time job though, so swing trading on the h4/daily has always been my bread and butter. Lots and lots of patience needed for that
  • #754
  • Edited 10:00am Nov 24, 2011 9:23am | Edited 10:00am
Quoting Venice
My accuracy drops to about 75-80% on the 5m.
It's better not to play in this timeframe. if you have more accuracy in higher timeframe, hmmm it's a waste

Quoting Venice
My daily chart accuracy is 97.6% right now... 15m is right in at 91.2%.
it needs a lot of experience i guess to have such accuracy

Quoting Venice
(Can you tell I love stats? hah). I have every single trade I take logged, and which time frame it was taken on is just a piece of the puzzle.


Quoting Venice
I do work a day time job though,
Maybe you must considering to trading for living. and be a full time trader.
Sorry if i'm indelicate

Kindest regards
DJ shan
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #755
  • Nov 24, 2011 11:31am Nov 24, 2011 11:31am
Bonjour everyone.
To me M5 is very accurate. M1 is dangerous when liquidity is lacking. H1 is a good trend follower TF. H4 for weekly swingers.
I use M5 on MT4 with some spotting on M1. With my ECN i use H4 with some indies (filters) for weekly swings. This is that way cos i can't monitor all things.

BTW: I 'd like to know how are your monitoring setups, the number of screens, platforms etc.. I find it difficult to track on M5 more than 4 or 5 instruments.
Rien ne sert de courir il faut partir à point.
  • #756
  • Nov 24, 2011 11:45am Nov 24, 2011 11:45am
Quoting flytox
Bonjour everyone.
To me M5 is very accurate. M1 is dangerous when liquidity is lacking. H1 is a good trend follower TF. H4 for weekly swingers.
I use M5 on MT4 with some spotting on M1. With my ECN i use H4 with some indies (filters) for weekly swings. This is that way cos i can't monitor all things.

BTW: I 'd like to know how are your monitoring setups, the number of screens, platforms etc.. I find it difficult to track on M5 more than 4 or 5 instruments.
M5 is fast enough for me, the problem i have is getting the limit order in before a candle high or low breaks.

currently using 6 monitors, but this is over kill. the reason i am is because i picked up identical 2nd hand monitors for a £10 each.

Adding 1 extra monitor may be very easy depending on your computer, and ebay is full of cheap monitors, so you could add 1 at low cost if you want, i would say it would be money well spent.

if you want to add an extra monitor then i will be happy to discuss how to go about it if you dont know what to do.
  • #757
  • Nov 24, 2011 2:17pm Nov 24, 2011 2:17pm
Quoting Du Jin Shan
It's better not to play in this timeframe. if you have more accuracy in higher timeframe, hmmm it's a waste



it needs a lot of experience i guess to have such accuracy






Maybe you must considering to trading for living. and be a full time trader.
Sorry if i'm indelicate

Kindest regards
DJ shan
I have considered it, but I enjoy my day job to much to let it go... for now.
  • #758
  • Nov 24, 2011 3:24pm Nov 24, 2011 3:24pm
OK, so now we all know you direct porn movies.

Quoting Venice
I have considered it, but I enjoy my day job to much to let it go... for now.
Hello.
  • #759
  • Nov 24, 2011 3:32pm Nov 24, 2011 3:32pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting Venice
Yes; experience is everything in this game. I personally prefer the 15m ... but will take shots at the 5m and 1m if I see good setups. When I do say they are less accurate, it doesn't mean there are still plenty of good probability trades. My accuracy drops to about 75-80% on the 5m. My daily chart accuracy is 97.6% right now... 15m is right in at 91.2%. (Can you tell I love stats? hah). I have every single trade I take logged, and which time frame it was taken on is just a piece of the puzzle.

I do work a day time job though, so swing trading...
Hi every body, and thank you for the great thread indeed.

Hey venice, I am trying hard to be successful trading the 15-30 min tfs depending on S/D zones on H1 and H4, and am impressed by the accuracy % you have. Can you provide some insights into how to achieve such a success? For me, I am still strugling with patience and greed (2 yrs). For example, this week I had 105 pips gain, just to give it back today to the market with premium (another 100 pips).

Thanks in advance
  • #760
  • Nov 24, 2011 3:37pm Nov 24, 2011 3:37pm
PLEASE, for your own sake, go through our threads, for one week, without trading, and you ll get ur answer buddy. Enjoy, and welcome.

Price is everything, Romancing the price, and here. And also, ask Ifmyanta by PM, he'll love it

Quoting Atom
Hi every body, and thank you for the great thread indeed.

Hey venice, I am trying hard to be successful trading the 15-30 min tfs dependign on S/D zones on H1 and H4, and am impressed by the accuracy % you have. Can you provide some insights into how to achieve such a success? For me, I am still strugling with patience and greed (2 yrs). For example, this week I had 105 pips gain, just to give it back today to the market with premium (another 100 pips).

Thanks in advance
Hello.
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