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  • #421
  • Sep 22, 2017 4:51am Sep 22, 2017 4:51am
Strong buy level.

How do I trade this?
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A trade should be based on an assumption based on facts
  • #422
  • Sep 22, 2017 6:22am Sep 22, 2017 6:22am
Attachment g
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A trade should be based on an assumption based on facts
  • #423
  • Sep 22, 2017 6:52am Sep 22, 2017 6:52am
What is wrong?
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A trade should be based on an assumption based on facts
  • #424
  • Sep 23, 2017 7:38am Sep 23, 2017 7:38am
WEEKLY DIGEST -

If bull candle appears in a bear rally then an assumption can be made about the level at which the bull candle appeared that some buyers are present. So, next time price enters that level some bullish action can be expected.

Learn not to make stupid mistakes.

Volatility and liquidity.

If irregularities can be found in a market then a trade can be made on that irregularity.

price is in an equilibrium between these two levels.
When price entered it was out of balance.
An assumption can be made that this equilibrium might be short term reversal from the original rally.

look for irregularities in market to trade. A trade should be based on an assumption based on facts

What differentiates it from most forms of technical analysis is that its main focus is the relation of a security's current price to its past prices as opposed to values

derived from that price history. This past history includes swing highs and swing lows, trend lines, and support and resistance levels.

How do I trade this?
A trade should be based on an assumption based on facts
  • #425
  • Sep 23, 2017 11:47pm Sep 23, 2017 11:47pm
UJ daily
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A trade should be based on an assumption based on facts
  • #426
  • Sep 23, 2017 11:52pm Sep 23, 2017 11:52pm
reference candle should give hint about the next market move. This is the candle where assumption is made.
A trade should be based on an assumption based on facts
  • #427
  • Sep 24, 2017 2:14am Sep 24, 2017 2:14am
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A trade should be based on an assumption based on facts
  • #428
  • Sep 24, 2017 5:05am Sep 24, 2017 5:05am
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A trade should be based on an assumption based on facts
  • #429
  • Sep 25, 2017 5:03am Sep 25, 2017 5:03am
price does not move until there is a big imbalance between buyers and sellers.
A trade should be based on an assumption based on facts
  • #430
  • Sep 25, 2017 7:59am Sep 25, 2017 7:59am
How to trade with a rally in price?
A trade should be based on an assumption based on facts
  • #431
  • Sep 25, 2017 10:44pm Sep 25, 2017 10:44pm
How to calculate stop loss
A trade should be based on an assumption based on facts
  • #432
  • Sep 26, 2017 8:46am Sep 26, 2017 8:46am
It is important to remember that all profits are unrealized gains until you sell what you bought or buy back what you sold short.
A trade should be based on an assumption based on facts
  • #433
  • Sep 26, 2017 9:11pm Sep 26, 2017 9:11pm
Have confidence in your decision making.
A trade should be based on an assumption based on facts
  • #434
  • Sep 26, 2017 9:12pm Sep 26, 2017 9:12pm
Being right and making money is not the same as being right only.
A trade should be based on an assumption based on facts
  • #435
  • Sep 27, 2017 12:55am Sep 27, 2017 12:55am
Quoting maverick2017
Being right and making money is not the same as being right only.
Mate.. Your trading is similar to mine 5 years ago. Pure speculation. Overthinking the market & charts.
Let the market come to you.
I see No SLs & No TPs.??? No wonder your losses are greater than your profits even though your win rate is OK.
Conventional trading is for losers
  • #436
  • Edited 3:21am Sep 27, 2017 2:44am | Edited 3:21am
Quoting Ralffe
{quote} Mate.. Your trading is similar to mine 5 years ago. Pure speculation. Overthinking the market & charts. Let the market come to you. I see No SLs & No TPs.??? No wonder your losses are greater than your profits even though your win rate is OK.
Correct about everything.
I do not place sl/tp because most of the times I'm right about the direction of the price but my entry points are really very bad. So, I decided to cut down the size of the trade but it still does not work.
Trading is speculating, right?
Overthink is really a bit of concern because then I have problems exiting the trade whether it is in profit/loss.
How do I improve?

What is the difference between when you were trading like me and now?

What does it mean to "let the market come to you"?
A trade should be based on an assumption based on facts
  • #437
  • Sep 27, 2017 3:33am Sep 27, 2017 3:33am
Getting input from past price data.
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A trade should be based on an assumption based on facts
  • #438
  • Edited 4:24am Sep 27, 2017 3:37am | Edited 4:24am
Upside
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Trap
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A trade should be based on an assumption based on facts
  • #439
  • Sep 27, 2017 4:58am Sep 27, 2017 4:58am
Quoting maverick2017
{quote} Correct about everything. I do not place sl/tp because most of the times I'm right about the direction of the price but my entry points are really very bad. So, I decided to cut down the size of the trade but it still does not work. Trading is speculating, right? Overthink is really a bit of concern because then I have problems exiting the trade whether it is in profit/loss. How do I improve? What is the difference between when you were trading like me and now? What does it mean to "let the market come to you"?
No trading is not speculation. Not if you do your homework first.
You must have a Sl & TP. Be realistic. Even if it is only a 1:1 trade, it's worth it.
Draw trend lines. NOT the conventional ones. Draw from lowest point to latest support level.
Place Buy/Sell stop orders. That way the market comes to you when it has committed to the direction.

You have a Long UJ trade running. There is resistance at 113.80 where a pullback can be expected. Take TP there OR look to the weekly chart & hold for a greater reward. SL should be 111.45 or Tight SL at 112.25
Cheers
Conventional trading is for losers
  • #440
  • Sep 27, 2017 6:22am Sep 27, 2017 6:22am
Quoting Ralffe
{quote} No trading is not speculation. Not if you do your homework first. You must have a Sl & TP. Be realistic. Even if it is only a 1:1 trade, it's worth it. Draw trend lines. NOT the conventional ones. Draw from lowest point to latest support level. Place Buy/Sell stop orders. That way the market comes to you when it has committed to the direction. You have a Long UJ trade running. There is resistance at 113.80 where a pullback can be expected. Take TP there OR look to the weekly chart & hold for a greater reward. SL should be 111.45 or Tight...
Even if homework is done, we cannot be sure about the direction a price will move. Moreover homework is done for better speculation.
I will try putting Sl & TP on next trades as to test my analysis whether I'm wrong or right in predicting the direction.

Can you post a chart showing the trendline you have mentioned?

On UJ why not put the TP at 114.48?
On weekly I can see a flag like formation but it is too large.
A trade should be based on an assumption based on facts
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