SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Billytt Die happy trading e/j daily breakout
- #28,642
- May 18, 2018 6:18am May 18, 2018 6:18am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
Little grandson arriving later. I am taking a rest before a boisterous 5 year old turns my day upside down.If he brings his 12 volt powered motor bike then I am going to do a lot of fast walking
{image}
yaaaaaaaaaaaaaaaay go for it Mr T.... sounds fun lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #28,643
- May 18, 2018 6:18am May 18, 2018 6:18am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #28,644
- May 18, 2018 6:20am May 18, 2018 6:20am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
Catch you later,,,, sorting my GF's Bee Hive out bzzzzzzzzzzzzzzzzzzzzzzzz
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #28,649
- May 18, 2018 10:55am May 18, 2018 10:55am
- | Joined Jan 2018 | Status: Trader | 1,108 Posts
I will be back tomorrow. Have a good one everyone. {image}
You can't say it wrong!
It's
I'LL BE BACK.
Inserted Video
- #28,652
- May 18, 2018 11:18am May 18, 2018 11:18am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Lem, is it the wickzone method?
What you had was a momo (momentum) move down out of the doji-like candle. I then got two points of note:
1: After a big momo candle, you will often (more often than not) get a retrace to around the 50% mark (either of the candle or the point of the breakout) and...
2: ...this combined with the fact that there was a level I was watching below that the candle didn't want to close below.
As such, it was worth a quick hitter to take anything I could get. As it turned out it took the candle following to bring the bigger push but it did get there (and more).
It should be noted that the same thing then happened going the other way!
You can either trade the retrace as I did here, or what will happen is, price will wick into the area it came from and then resume back in the original direction, so you can play that...or do both
.There is a name for this as a stand-alone method but I don't want to get into it here for now (I figure we've got enough going on for now) and it's a variant of the technique Claudia uses to trade around the pivot - this was just around a different level, not the DPV.
- #28,653
- Edited 11:56am May 18, 2018 11:39am | Edited 11:56am
- | Joined Jan 2018 | Status: Trader | 1,108 Posts
{quote} I suggest currency trading is not for you. You can't even grasp the basics - I'm up 3k real £ today and you? I'm being hard for your good.
Claudia, like i said i never did the hedging before, always traded with the SL, so now i don't know how to move. Notice i trade since september 2017 and never had a "mentor". I've not yet burned an account, and i think this is already a lot...
How many money did you lose before becoming profitable? Trading wasn't for you? I would not say it
- #28,654
- May 18, 2018 11:43am May 18, 2018 11:43am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Lem, the bounce off 13070 was great. Just like a sniper, I waited. Still in it from 13067 > 13089. It did bounce back taking all the profits a first time. But since, I've already made my daily gains I was ready to take a loss and move on (easier said than done). So I let let eat up my gains. I should have more control over my ego or scale out which i didn't do i wanted it all, yes I've ''worked'' for this one, this was a special trade for me. So I held my breath and let it come back just to bounce to 13097 (I was ready to take my profits...
Always have the courage of your convictions. If you are 100% sure of the method and the decisions you took to enter a trade, then we need to always fight against any intrusion into our little bubble as we manage things. having doubts poke you in the back of the neck with a sharp stick, ''Hey, dude...maybe we should take our profits now...what happens if it goes all the way back down? Do we go back in? Do we leave it and add in? Do we counter on the way down against us, so we can at least bank a cushion? Dude, dude...dude!!!' Pay attention to me!!!''.
If you have a complete plan of what to do in every possible situation, then all that goes away. You live and trade in the moment. No need to ''What if? What if? What if?!! '' as you already know exactly what you are going to do before it happens.
That is why I say that for these methods here, it is absolutely crucial that you practice on demo only. I know all the arguments about playing with skin in the game and generally, that makes sense - but not here. Here, you need to perfect the techniques needed to run these methods without the pressure of potentially losing money. It's all about grooving the moves so they become second nature.
If you are worried about losing money, for ego's sake as much as anything else, then you will not perfect those techniques.
Anyway, onward and upward
- #28,656
- May 18, 2018 11:54am May 18, 2018 11:54am
- | Joined Jan 2018 | Status: Trader | 1,108 Posts
{quote} No Mr-G, it's not anything really talked about as a method here. What you had was a momo (momentum) move down out of the doji-like candle. I then got two points of note: 1: After a big momo candle, you will often (more often than not) get a retrace to around the 50% mark (either of the candle or the point of the breakout) and... 2: ...this combined with the fact that there was a level I was watching below that the candle didn't want to close below. As such, it was worth a quick hitter to take anything I could get. As it turned out it took...
- #28,659
- May 18, 2018 12:02pm May 18, 2018 12:02pm
- | Joined Jan 2018 | Status: Trader | 1,108 Posts
@mrg - ok was a bit harsh there sorry. But all the clues are in the thread.
Not important Claudia. Thank you anyway. I think only it's a bit soon to stop trading: i'm still learning!
