AU m15 close to tp now
tradewith60
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DislikedHello 60mm! Great thread!
I am a little confused, which is why I'll skip directly to your last posted trade which is AU taken on BEEB above the 50SMA. What made you take that trade? Few basic conditions were against your decision.
1) above 50SMA
2) there was no trend, more likely it was about a range between the two horizontal yellow lines, as showed on jpg.
3) there was a HL-HH swings structure inside the range
I noticed that seems to comply with Steve Primo's #4 strategy, but your way of thinking will be more interesting to hear it.Ignored
DislikedHi Cristiansan...
1. my entry was just below the 50sma, but i see your point... to be fair it was really an attempt to get in on a trend turning point....
2. The main reason... was a lovely engulf at a failed high, if London open failed at the high we we're most likely going short to a stronger s/r.
3. I don't agonize over entries, it's exits on the winners that matter to me, it's R/R that matters the most to me... 50%, 40% win rates are more than enough... I got nearly 4/1 on this trade so I can now have a few free goes at some set ups that...Ignored
Disliked60mm, you are right, the main key of your strategy is EXIT. I have also noticed that you are quite flexible when it comes about the rules. I don't mean you break them, but you don't abide them blindly. When transactions have been taken in a discretionary way (but respecting the strategy), we talk about experience, which makes the difference.
Thanks for sharing all these tips!Ignored
Dislikedaiming for 1.24878 to cap another awesome week trading commandoIgnored
Dislikedaiming for 1.24878 to cap another awesome week trading commandoIgnored
DislikedI though an engulfing candle is when the entire body of the preceeding candle is overtaken, am I wrong ?Ignored
Dislikedyes, you are right
I'm presuming though that you haven't read about the other 2 signal types?Ignored