Hello all,
I'm using the daily chart only. is this what you guys advise?
I'm using the daily chart only. is this what you guys advise?
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DislikedHello all, I'm using the daily chart only. is this what you guys advise?Ignored
Disliked{quote} After this current GN setup completes the plan was to then start with a much larger live trading account which would outline the MML intraday system and also continue to trade the D1 Quad Patterns. The purpose for having a Quad Candle D1 method and an intraday MML M15/5 system is so that opportune trades can be taken whilst Quad pattern setups unfold. The trader can at any time choose to trade 1 or the other method or indeed both at the same time. Unfortunately due to the pitiful participation in this thread at this time it is becoming very...Ignored
Disliked{quote} Trade lost guys, (- 20 pips) but I will be staying focused on this pair nowIgnored
Disliked{quote} GBPCHF [D1 Chart] A technical look at this pair. {image} The harmonic completion finishes at a very nice level in confluence with the extreme +2/8 MML. This completion assumes that price holds above the low shown on the screenshot and continues its way up the chart. If price breaks down lower than the low shown on the screenshot then we need to adjust our expectation. This simply means that our projected D point of the 1 to 1 harmonic completion will be a slightly lower price than it was before due to a deeper pullback. A long entry from...Ignored
Disliked{quote} I really appreciate showing your thinking and trade results over the course of the trade. As we all know, they don't all win, and some are educated guesses on PA. Still, much to learn from the not so successful trades . . . maybe more than on the winners. FSIgnored
Disliked{quote} I really appreciate showing your thinking and trade results over the course of the trade. As we all know, they don't all win, and some are educated guesses on PA. Still, much to learn from the not so successful trades . . . maybe more than on the winners. FSIgnored
Disliked{quote} The main concept here is to look for Quad Candle Pattern setups on a D1 chart, so you are correct. There is also the option to trade intraday MML setups on say an M15 TF but I have not yet outlined this methodology. The reason for not yet showing the MML M15/5 system is due to starting this thread with a 1K live account which in my opinion is a very small account. A very small account will struggle to trade more than a few trades with correctly placed stops on a big moving pair such as GJ and GN due to the larger pips involved in the stops...Ignored
Disliked{quote} Hi Masterrmind, I think let this thread stick to D1 Quad/MML setups. I have done in last 45 days 3 setups based on MML. Two got me 900 pips and I lost 150 pips in another trade. Pairs traded were GBPJPY, GBPAUD (both winners) and GBPNZD (loser). The strike rate will further improve with time. I feel anyone practising D1 Quad/MML set up combined with risk management for a year or so can count himself/herself to be among top 5% of successful fx traders.Ignored
Disliked{quote} VERY hard to combine D1 & M15 approaches within a single thread - even for a fellow of your descriptive talents ... Perhaps a new M15 thread is an answer that might bring more rewarding - & less confused - participation from the wider FF membership ?Ignored
Disliked{quote} So useful to me to disassemble each of your comments so as to understand the whole thought process. Great learning available here. With appreciation, FSIgnored
Disliked{quote} Still pondering the additional thread idea but not sure I will go down that path. The idea to keep both methods separate has its merits but having them both run together for traders with larger accounts also has its merits. For traders wanting to trade pure D1 Quad the M15/5 MML method might be a distraction or it could be viewed as a relevant add on to their trading methods. At this stage Im not too keen to start another thread. If the participation rate does not pick up convincingly by the end of this month then its very likely the thread...Ignored
Disliked{quote} Nothing is distracting as long as the core principle of trading and recording it before the fact is strictly adhered to. Short-term MM setups will certainly be helpful as long as rationale for setups are provided right at the time or before trading.Ignored
Disliked{quote} Hi Masterrmind, I think let this thread stick to D1 Quad/MML setups. I have done in last 45 days 3 setups based on MML. Two got me 900 pips and I lost 150 pips in another trade. Pairs traded were GBPJPY, GBPAUD (both winners) and GBPNZD (loser). The strike rate will further improve with time. I feel anyone practising D1 Quad/MML set up combined with risk management for a year or so can count himself/herself to be among top 5% of successful fx traders.Ignored
Disliked{quote} I do have to agree, think you have to learn to walk before you can run, My trade will either hit target or stop me out now for +40 pips, If you guys want the thread to continue its only fair that you give Masterrmind a little more feedback, I have always tried to do this but was open and honest that although I am a big fan of Murrey I was not over keen on the Quad pattern itself, hence my scalping style posts of which I will cease now, so come on guys get the thread moving, do not think we will find a much better guy to learn this game from...Ignored