When I try to practice, the momentum bar is really subjective, it's hard to identify. I am trying to survive.
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DislikedOk, since Survivor asked for more participation from us I will post a recent trade that I took. I post it because there are many points I would like to make. I am not very experienced trader and I switched to intraday trading since I have read this post. This is why if I am wrong somewhere I hope someone more experienced will jump in and correct me.
In the chart below GBP/USD looks like it is trending down and we were in a pullback. I entered a pending sell order below the big bearish bar. The order was 12 pips below the low price. After 2 bars...Ignored
DislikedOk, since Survivor asked for more participation from us I will post a recent trade that I took. I post it because there are many points I would like to make. I am not very experienced trader and I switched to intraday trading since I have read this post. This is why if I am wrong somewhere I hope someone more experienced will jump in and correct me.
In the chart below GBP/USD looks like it is trending down and we were in a pullback. I entered a pending sell order below the big bearish bar. The order was 12 pips below the low price. After 2 bars...Ignored
DislikedJust came back from vacation and found your first thread! Good luck and good job.
I think your approach using CHOROS in H1 has some good applications. My advice to newbies, use Survivor's method to take quick scalps (10-20p) per trade and you will have many wins. Use lower TFs to fine tune your exit. My only concern is that you don't get an early seat in the train (compared with CHOROS). But it seems to be a winning seat if you don't stay too long with it.Ignored
DislikedWhen I try to practice, the momentum bar is really subjective, it's hard to identify. I am trying to survive.Ignored
DislikedHi Survivor,
Hope you are fine with your personal life.
May I ask you a question?
Is your chart free of moving average, S/R, TL, pivot, Rounds, etc now????
cheers,
kk007Ignored
DislikedPrice KK... i have abandoned everything. I just need price bars. You are free to use choros mas if you want.Ignored
DislikedHi Survivor,
This is what happening right now, there was a momentum bar 3 bar ago, if I entered at the momentum bar break and set SL to -10, it is a loser, is it?
cheers,
kk007Ignored
DislikedHi Survivor,
This is what happening right now, there was a momentum bar 3 bar ago, if I entered at the momentum bar break and set SL to -10, it is a loser, is it?
cheers,
kk007Ignored
DislikedHow did it go? It's all after the event analysis but still. After your momentum bar there was clear lack of momentum. I would have tightened my SL and taken a loss if necessary. I rarely keep my sl below previous bar when i am long. Break below previous bar low is negative sign for me. That means sellers a fighting back.Ignored
DislikedYou bought it right @ resistance - yesterday's high (1.4432 on my charts).
Take care.
Vidas
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"Do not sell morning weakness in the strong uptrend" - old Sumer proverb.Ignored