Simple Low Risk Price Action Trading w/ TE Results

Quoting Embry1

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11th consecutive winner on the live account. I just need to find more of these and scale the lot size to match the risk of the longer term trades to really scale the account. Trying to stay at 2-4% risk per trade so these smaller ones need to be at least 2% risk. This one I held and hit TP thank goodness, I have a bad habit of cutting them too early but I always perform best when I set my trade parameters and let it either run to TP or stop out. My risk/reward should always be set up to where even if it stops out, the next winner should take everything...

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Quoting nihilist23uk

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{quote} Daily looks interesting at 1st glance. I will take a look at some charts later . Keep info coming mate,it really is appreciated.

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Quoting Embry1

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12 in a row for this account, just waiting for the loser now because I'm way over due. Not surprisingly, when I see a trade to hold over night, they usually work out because I'm not staring at the computer trying to perfect the exit. I set my TP and SL based on support and resistance and go to sleep. I've done this every day this week and some last week and if you have the right setup with the right exit, you'll do well. Here is a trade on the GBPUSD that I opened just before the Tokyo session. I knew there was big EUR and GBP news this morning...

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Quoting OCrhino

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{quote} On this chart it looks like there could of been several bars, previous to your entery, that you could of entered. What factor caused you to enter when you did? Was it the 15M chart?

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Quoting reteid2222

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{quote} Ok coded the indicator that it took exactly angelicas entrys...u have utc-7 to -4 in germany +1... Settings and trades now as in the picture: Next step I ll code embry s version with div & s/r....this will be harder cause of the s/r {image} {image}

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Quoting juraia

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{quote} Can you post the updated version: {image} Можете ли да публикувате обновената версия:

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Quoting Embry1

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{quote} I was watching the 15 minute chart for it to sync up, also the risk reward didn't line up to my liking until it got closer to the PSAR and middle bollinger band. The SL was just above the 100 EMA on the 15 minute chart. {image}

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Quoting plymgary

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{quote} Hi Embry1, Thank you for sharing your system. I've been reading all morning and now got to this page. Further to what is written above, would it be possible for you to explain the indicators you are using now please? I've installed the ones from the original post, but also noticed you might be using some that Angelica shared on page 3? So, just to avoid confusion I want to make sure I'm using the exact ones you are. Thanks again

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Quoting Embry1

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{quote} The indicator you need is on post 41 for stoch divergence. The only other indicator I have is the bars on the bottom of the screen indicating when there are 3/4 signals aligned but honestly I haven't had much use out of that and will probably do away with it very soon. It may help some but I don't need it whatsoever. The template is on the first post for the divergence indicator. You actually don't need the divergence indicator either because the arrows typically occur after I've entered the trade but it does help you understand in hindsight...

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Quoting nihilist23uk

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Managed to grab 120pips on NZDUSD daily.Looks like there is room for more so may have got out too early but tp hit so all good. {image}

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Quoting Embry1

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{quote} The problem I have on M5 is the risk/reward. Typically the spreads are going to eat up too much of the profit to be worthwhile. I'm sure it works on M5 but it may not be worth your time.

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Quoting plymgary

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I'm going to try this strategy on 4hr charts and see how it goes. I'm too busy for the 15M charts, so can just use wider TP's and SL's on the 4hr. Nothing to lose from trying it out.

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