Let me break down how I trade DAX30 M5 charts:
The Goldenrod Vertical Line is the Frankfurt session open time.
The LimeGreen Vertical Line is plus 1 hour.
This is where I first start looking for an Entry setup.
So, when I start, I see something like this:
I do this:
The Risk (SL) for a Long there is only about 10-15 Pips, max.
I should Enter the Long, if I were a machine.
But, in reality, I might just be looking at another instrument,
or doing whatever else, and when I see the setup, I am late.
So, when I see this:
I should sit on my hands and just wait until I see smth like this:
There is a Pinbar rejection and an InsideBar.
This is a signal that Bulls are losing strength, there is no room for objectivity or not.
I don't know, maybe some Traders need only this much to Risk a Short.
Others will still wait for this:
This should be the last call for a Short Entry with SL max 30 Pips,
but I would probably Risk not more than 20 Pips initially, in this situation.
After seeing the following, you sit on your hands, again:
And, you follow the Local Trend until you see this:
This is reason to Close the Short Entry.
This is reason to Risk Long at max 30 Pips SL.
And, you continue like this till you've had enough.
Now, you can see my mistakes more clearly.
For various reasons, I was never there to see the very best Entry moment,
but still I tried to get on the train when it was moving.
However, because I am minimizing my SL (Risk), using safety gear,
my injuries aren't big and I quickly recover!
So, again, we are not machines, we are not always there at the right moment,
we have urges to take a trade, because Price is now moving stronger than before,
and we think that it might move 100 Pips more in just a few seconds.
Sometimes it does that, but most often not!
And, again, when you are using safety gear and letting your Profits recover your Losses plus Reward,
you are on the right path, you will be Profiting in the end result!
It is just that I want to get injured less frequently, that's all!
The Goldenrod Vertical Line is the Frankfurt session open time.
The LimeGreen Vertical Line is plus 1 hour.
This is where I first start looking for an Entry setup.
So, when I start, I see something like this:
Attached Image
I do this:
Attached Image
The Risk (SL) for a Long there is only about 10-15 Pips, max.
I should Enter the Long, if I were a machine.
But, in reality, I might just be looking at another instrument,
or doing whatever else, and when I see the setup, I am late.
So, when I see this:
Attached Image
I should sit on my hands and just wait until I see smth like this:
Attached Image
There is a Pinbar rejection and an InsideBar.
This is a signal that Bulls are losing strength, there is no room for objectivity or not.
I don't know, maybe some Traders need only this much to Risk a Short.
Others will still wait for this:
Attached Image
This should be the last call for a Short Entry with SL max 30 Pips,
but I would probably Risk not more than 20 Pips initially, in this situation.
After seeing the following, you sit on your hands, again:
Attached Image
And, you follow the Local Trend until you see this:
Attached Image
This is reason to Close the Short Entry.
This is reason to Risk Long at max 30 Pips SL.
And, you continue like this till you've had enough.
Now, you can see my mistakes more clearly.
For various reasons, I was never there to see the very best Entry moment,
but still I tried to get on the train when it was moving.
However, because I am minimizing my SL (Risk), using safety gear,
my injuries aren't big and I quickly recover!
So, again, we are not machines, we are not always there at the right moment,
we have urges to take a trade, because Price is now moving stronger than before,
and we think that it might move 100 Pips more in just a few seconds.
Sometimes it does that, but most often not!
And, again, when you are using safety gear and letting your Profits recover your Losses plus Reward,
you are on the right path, you will be Profiting in the end result!
It is just that I want to get injured less frequently, that's all!
Trade the facts, not opinions.