Avoid the crowd. Be chess player, not chess piece
Wolfe Waves - Get in the Zone
- #2,064
- Edited 12:32pm Nov 6, 2017 11:40am | Edited 12:32pm
{quote} Yes, you'r right. I know it but, the reasons because I took this ww are 1) the bigger one hasn't completed my standards for a ww 2) i see a another possibile bearish ww and if the bullish ww go to target, that shoul forme 4-5 leg look at the chart..but it might very well be wrong {image}
- #2,066
- Nov 7, 2017 1:50am Nov 7, 2017 1:50am
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #2,067
- Nov 7, 2017 1:57am Nov 7, 2017 1:57am
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #2,068
- Edited 4:04am Nov 7, 2017 2:35am | Edited 4:04am
after some tests, the biggest problem for WW trading is: You can not focus on low spread currencies cause the signal appears everywhere. Forex is a zero-sum game, if you trading sth with high spreads, you are working for your brokers.
But i enter on any ww with my setup that i see; and i'm positive to think that in a random order the targets will be in a higher percentage than the SLs.
Second factor in my favor is the risk/reward, that is better than 1:1, sometimes cold reach even 1:5 or higher depending on your entry and your risk.
I see Forex a bit like this picture
So have to think in probabilities
Avoid the crowd. Be chess player, not chess piece
- #2,070
- Edited 11:37am Nov 7, 2017 10:54am | Edited 11:37am
{quote} Picked up +20 pips on half the position but the rest got stopped out at BE.
Never been in a situation like this one, so I need an advice from someone much experienced than me
On audjpy, there are 2 different settings for 2 bullish WWs.
The first is smaller
The second is in higher TF
What should be done? if the smaller ww will complete..should it be taken or better to wait if the bigger will complete?
Thank you
Avoid the crowd. Be chess player, not chess piece
- #2,071
- Nov 7, 2017 9:56pm Nov 7, 2017 9:56pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
{quote} In my broker there are pairs with very variable spreads ( at 23 p.m sometimes in some currencies arrive to 20-30 pips, so i have to remove it momentarily) But i enter on any ww with my setup that i see; and i'm positive to think that in a random order the targets will be in a higher percentage than the SLs. Second factor in my favor is the risk/reward, that is better than 1:1, sometimes cold reach even 1:5 or higher depending on your entry and your risk. I see Forex a bit like this picture
WW count on "successful reversal", if it not happens the risk:reward is quite low.
No one wants to be defeated~
- #2,072
- Nov 7, 2017 10:02pm Nov 7, 2017 10:02pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
{quote} Hi Kurt, need your help here.. Never been in a situation like this one, so I need an advice from someone much experienced than me
I didnt see any valid WW on H1, but on H4 we have one.
No one wants to be defeated~
- #2,073
- Nov 8, 2017 2:21am Nov 8, 2017 2:21am
{quote} only EURUSD USDJPY can remain low spreads (<1pip including commissions) at any broker. WW count on "successful reversal", if it not happens the risk:reward is quite low. {image}
I have minimum a R/R of 1:2, if not, i don't enter.
Look for example at the big WW on NU
I decided to exit because I was already in positive with a R/R: 1:4 and that wasn't even my first target (but decided to exit for the end of the week and other factors)
It depend on your entry; better entry can make the difference
Avoid the crowd. Be chess player, not chess piece
- #2,079
- Nov 8, 2017 10:07pm Nov 8, 2017 10:07pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #2,080
- Nov 8, 2017 11:27pm Nov 8, 2017 11:27pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~