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SAFE - KISS

Looking better at BTCUSD, i think the yellow trendline is better than the red one, I say that because if you see the "point 1" on the chart, the first swing where i should put the trendline was too low, and making the red trendline too steep. I hope I am explaining my idea well, sorry I am not english tounge, that why i like to use screenshot with arrows and nice stuff.
So, if we base our analisys on the yellow trendline, if hypotetically speaking the daily candle close above the yellow trendline, we still don't enter long, because the actual candle is crossing the yellow TL.
If we base our analisys on the red trendline, if hypotetically speaking the daily candle close above the red trendline without crossing it, we enter long.

Really interested about your thought Ralffe,

Mirko
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Quoting okrim
Looking better at BTCUSD, i think the yellow trendline is better than the red one, I say that because if you see the "point 1" on the chart, the first swing where i should put the trendline was too low, and making the red trendline too steep. I hope I am explaining my idea well, sorry I am not english tounge, that why i like to use screenshot with arrows and nice stuff. So, if we base our analisys on the yellow trendline, if hypotetically speaking the daily candle close above the yellow trendline, we still don't enter long, because the actual candle...
Very good
Conventional trading is for losers
Quoting Ralffe
{quote} Well done Once price moves below the current low at 147.90 you could move your SL to BE safely.
Thank you Ralffe.

Well I decided against your advice to close all trades, clear up and take a breath. Bit of reflection on what I've learned so far!
I cleaned down all the charts so I can apply new trend lines as part of my practice in getting entries right.

I realise you mostly stayed in but for me to learn I want to re-enter.
And truthfully if it was not a demo account... would I have closed them and been happy this week! You bet.

I am flowing 11 pairs Brent and Gold. I know some are crosses however I'm keen to practice.
Anyway the result was + 7265 pipettes -3232 Net 403pips. That would be a pretty mind blowing week in my book! The equity curve on my demo has gone of like Space X

I appreciate there will be not so good sessions so I'm realistic. Anyhow time to reflect and start over.
Thank you so much for your insights and help so far

Oh and PS: I haven't looked at lower time frames than daily at all, which is unheard of for me. I do look at the monthly to get a peep at all time highs and lows for perspective.
Quoting Ralffe
{quote} You should read my posts from post 203 about trading or hedging pull-backs on the 4H
Hi Ralffe, thanks, i will do for sure. But due to my lifestyle, i cannot guarantee my self the possibilty to follow H4. I will stick to daily TF, and i will trade H4 if and when I can.
So, said that, based only on daily TF, are my analisys correct?

Thanks,
Mirko
Quoting Ralffe
{quote} No. That will not happen unless price continues to higher highs. Hopefully not. Note the bounce came exactly where it should have albeit higher than I would have liked. We are now waiting to add on to shorts if price comes down & continues down. {image}
All clear now, thank you
Quoting okrim
{quote} Hi Ralffe, thanks, i will do for sure. But due to my lifestyle, i cannot guarantee my self the possibilty to follow H4. I will stick to daily TF, and i will trade H4 if and when I can. So, said that, based only on daily TF, are my analisys correct? Thanks, Mirko
Yes you are on the right track & going well.
Conventional trading is for losers
Just playing... eurjpy h4, is the trendline hinged good?
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Quoting Ralffe
{quote} Yes you are on the right track & going well.
Thanks Ralffe, great to know!
Quoting MrGreen95
Just playing... eurjpy h4, is the trendline hinged good? {image}
Perfect
Conventional trading is for losers
Got SL on gold, loss was reduced on 25% to initial, but have locked bigger profit on AJ. Still have 5 running trades.
Will try to add on.
I make a question about a situation that can occour many times, see the attatch screenshot.
Thanks!

Mirko
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Quoting okrim
I make a question about a situation that can occour many times, see the attatch screenshot. Thanks! Mirko {image}
Very strong resistance there for sure. I traded the retrace on the 4H But I would not be going long again until the high at is broken & confirmed.
I do not expect to see this. Waiting now to add shorts. Probably tomorrow. We need to see price hesitate going down (could be doing that now) to set the next line & add a short.
Conventional trading is for losers
Quoting Ralffe
{quote} Very strong resistance there for sure. I traded the retrace on the 4H But I would not be going long again until the high at is broken & confirmed. I do not expect to see this. Waiting now to add shorts. Probably tomorrow. We need to see price hesitate going down (could be doing that now) to set the next line & add a short.
Thanks for the answer, so generally speaking even if we have the signal for a long trade but we are below a resistance we avoid to enter, and if we have the signal for a short trade but we are above a support, we avoid to enter. Right?

Thanks again,
Mirko
Quoting okrim
{quote} Thanks for the answer, so generally speaking even if we have the signal for a long trade but we are below a resistance we avoid to enter, and if we have the signal for a short trade but we are above a support, we avoid to enter. Right? Thanks again, Mirko
One would be foolish to go long today. Super strong resistance. Even a candle over the line would still have me waiting to see Monday's action.
Safety first always.
Conventional trading is for losers
Quoting Ralffe
The expected pull.backs are in motion & as I said they are best played on the 4H. If played they will be hedges to the original trades. I usually look for a 50% retrace on these trades. So long as they don't break the Daily lines they can only be regarded as pull-backs. {image}
Hi Ralffe, could you speak about money menagement?
I would like to know those things:

1) When you enter a trade, do you calculate your lot size according to the distance of the initial SL to have a fix percentage of risk?
2) How do you menage to calcolate the maximum percentage of risk, knowing that you can have more than one open trade? How many trades do you allow yourself to be in simoultaneously?
3) I see that some pair you follow have great correlation, like nzdusd and gold for example. If you are in both them, aren't you too exposed?
4) If you are short and daily tf, and you suppose there is a pullback, you go eventually on 4hr tf to find opportunity to go long, right? So, when you open the trade on 4hr tf which percentage of risk do you choose? The same of the short trade on daily? Let say that you risk 1% on the short trade based on daily tf, then the price maybe pullback, on 4hr tf you find a long entry and you enter long. Do you risk 1% on this trade too?
5) feel free to make other videos, we like you in the video very much!

Big thanks,
Mirko
Quoting Ralffe
{quote} One would be foolish to go long today. Super strong resistance. Even a candle over the line would still have me waiting to see Monday's action. Safety first always.
Yes, that is what i thought. Thanks!!!
Hi Ralffe
Would I be right in thinking that we would place a buy trade on EURUSD lf the current candle does not cross back into the red line. sorry if its a dumb question i'm just trying to learn.

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Thank You James16, Fijitrader, Dialist, Mbqb11, ghous, Pinbar and Jarroo
Quoting okrim
{quote} Hi Ralffe, could you speak about money menagement? I would like to know those things: 1) When you enter a trade, do you calculate your lot size according to the distance of the initial SL to have a fix percentage of risk? 2) How do you menage to calcolate the maximum percentage of risk, knowing that you can have more than one open trade? How many trades do you allow yourself to be in simoultaneously? 3) I see that some pair you follow have great correlation, like nzdusd and gold for example. If you are in both them, aren't you too exposed?...
Overall money management is entirely up to the individual. Everyone has their own MM so each to his/her own.
Conventional trading is for losers
Quoting Seabreeze
Hi Ralffe Would I be right in thinking that we would place a buy trade on EURUSD lf the current candle does not cross back into the red line. sorry if its a dumb question i'm just trying to learn. {image}
Normally yes but I smell a huge bull trap. I would not be making that decision today.
Conventional trading is for losers
Quoting Ralffe
{quote} Normally yes but I smell a huge bull trap. I would not be making that decision today.
Hi Ralffe

May I ask if your concern is because of the resistance line shown here on the weekly chart. Many thanks for your time.

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Thank You James16, Fijitrader, Dialist, Mbqb11, ghous, Pinbar and Jarroo
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