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Looked some more at U/J. Ive decided that i need to have a very different approach to the price action then the one i have with E/G and E/U if im going to trade it. Its much more of a one way PA. That doesnt mean its not interesting.

Hi Yaed, I like your approach, and I have a few questions:
1) Are the orders pending orders or market orders? or both?
2) Do you set TPs, or do you close the orders like a basket at a certain profit/loss?
3) Do you use any trailing stop? and/or move to breakeven?
Best,
MathT7

1) Market orders. Since how i trade is only partially based on sell high and buy low, i cant use limit orders very often. What i do is also based on buy high and sell low, because i consider breakout trades. To me its quite self evident why i do this: This is what the other people are doing, there are people doing both of these things or similar things, so i need to be in it as well if i am going to trade. I think i have evidence for this, IN THE CHARTS, and not because of what people are jabbering on about here on FF.

2) I set TPs as a MAXIMUM of how much i could POSSIBLY in the best case get out of a trade. And then 90% of the time i close them before it gets there. Often i close the orders at various points if i have many open ones. Sometimes i close them all at the same place, but not so often. To me its a matter of probabilities, and a matter of MANY probabilities in many ways of many frames of time.
To take a very recent example:

The first position, sell at 8:25 i sold there because it broke a new low and i figured thats the way to head.
But also i sold a second position at 8:50 as it broke through an older low from yesterday noon.
At 9:03 PA seemed to indicate the ride was sort of ending, but i wasnt sure. So i closed the first position and let the second remain.
A few minutes later, at 9:09 the second position was going nowhere, but it was still in a tiny bit of profit, so i closed that one as well.
All good, 12.4 pips profit.

3) I prefer to monitor my trades all the time. Having a stop at break even does not make mathematical sense and does not make sense price action wise either, at least in general. Using break even stops is a matter of using fixed SL. And that is only interesting if things DONT change, which they do all the time. In general i close a trade if its not working out no more, no matter if its in win or loss. To me its seems stupid to keep a position that seems not be working out and incur losses on it from the point it currently is (so i dont mean loss on the position itself, but a loss from where it CURRENTLY is), just because i have a fixed idea that i will close it at break even.

yes, failed new high and the higher low is broken. wait for a retrace to sell, that's what i am thinking.

Well then there is this to consider.

I am looking at 1m chart, the last swing low is only a little lower than the previous one, a sign that the sellers seem out of ammo, the slow grinding up shows the buyers are cautious. i guess a wedge is forming up. I guess your buy confirmation is valid, however, i would like to wait for it to be broken and a retrace to buy.

I will go in again at a retrace. If this dont work out and it goes below the line i will close it.

Hi Yaed,

You are doing excellent job and I appreciate that. There are lot of silent visitors who are like me but they are not putting their inputs sad. Everyday I am learning something new from your thread. Lot of things to grasp. Once again thank you for everything.

Bomi

I do what i can. Im getting tired of it though. Maybe i just need a cup of coffee. Maybe i will quit posting here today. Maybe i have said all there is to say already. Maybe i will go on. Havent decided yet.

well, you got to focus on one pair especially you zoom into 1m chart. as long as the pair you are looking at is moving, you can make money.