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Plan the Trade

  • #7,221
  • Aug 21, 2018 10:34am Aug 21, 2018 10:34am
Quoting hilmy83
{quote} out reverse..rotation taking place {image}
out..
was down -120ticks
finished on the 4th setup with net +95 ticks..
  • #7,222
  • Aug 21, 2018 10:38am Aug 21, 2018 10:38am
Quoting Divergence
5 minute chart doesn't have enough candles for me stops become bigger I like to see inside the moves
i don't really trade off 5 minute bars..i trade off levels..it's the same move if use tick charts or 1 hour charts...
  • #7,223
  • Aug 21, 2018 10:40am Aug 21, 2018 10:40am
Quoting hilmy83
{quote} i don't really trade off 5 minute bars..i trade off levels..it's the same move if use tick charts or 1 hour charts...
Gotcha stops are much bigger than mine
  • #7,224
  • Aug 21, 2018 10:45am Aug 21, 2018 10:45am
Quoting Divergence
{quote} Gotcha stops are much bigger than mine
oh yea definitely. risk profile is up to individuals. i consider myself pretty aggressive BUT sane enough to put in the stops and get out when i reach my max limit

"aggressive gambling with a touch of sanity"
  • #7,225
  • Aug 21, 2018 10:51am Aug 21, 2018 10:51am
Aggressive gambling with a touch of sanity nice quote I am an aggressive conservative
  • #7,226
  • Aug 21, 2018 11:52am Aug 21, 2018 11:52am
Quoting Divergence
{quote} it should work in higher time frames but stops would be huge i am a daytrader extremely short term looking to make 500 dollars a day thats my plan
Sorry, you are right, it does work. I did not express that right. What I meant was that it happens but very rarely so one would wait very long between signals.
Never give up !!!
  • #7,227
  • Aug 21, 2018 2:38pm Aug 21, 2018 2:38pm
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  • #7,228
  • Aug 21, 2018 2:39pm Aug 21, 2018 2:39pm
why can't I thumbs up my own post
  • #7,229
  • Aug 21, 2018 3:01pm Aug 21, 2018 3:01pm
Interesting approach rudy
  • #7,230
  • Aug 21, 2018 3:03pm Aug 21, 2018 3:03pm
Quoting rudy5
{image}
How do you use these levels? Look for a pattern?
So many in the Commercial section want to make me rich! :o
  • #7,231
  • Aug 21, 2018 8:27pm Aug 21, 2018 8:27pm
Quoting FX-Flux
{quote} How do you use these levels? Look for a pattern?
they are just typically higher liquidity levels and likely to see stop hunts around them. accumulation/distribution zones. I didn't expect to see so many fractions of round numbers working as S/R though which is why I posted it
  • #7,232
  • Aug 21, 2018 8:30pm Aug 21, 2018 8:30pm
Quoting rudy5
why can't I thumbs up my own post
Here is an extra thumb. : )
So what do you have there, pivots of a certain time frame or . . . . ?
Edit: ok, you posted above while i was typing.
  • #7,233
  • Aug 22, 2018 3:22am Aug 22, 2018 3:22am
Yesterday a bit of a washout on NQ -17. Just had some success on Dax +37

Note that pinbar at the open, woulda made a nice one if it had connected...

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'in less than half an hour he made over 100 ticks'
  • #7,234
  • Edited 8:40am Aug 22, 2018 7:37am | Edited 8:40am
Quoting turnip15
{quote} Something simple relating to price action :-) It might help some newer guys here ? https://www.forexfactory.com/showthr...2#post11385702
Thanks ... watched some of his stuff and is very much the same as Mr D ... pure price action and trend and pullbacks ... except he does not wait for such deep pullbacks because he trades higher time frames ... on Forex I normally wait for pullbacks between 50 - 61% ... got some insight and tested it with good effect .. better to wait for only 61% pullbacks ... very easy to get 1:3 risk:reward trades that way ... with 50% pullbacks 1:2 is the norm and get more stop-outs ... thanks again!
Never give up !!!
  • #7,235
  • Aug 22, 2018 9:45am Aug 22, 2018 9:45am
been struggling with where to put entry .. like today:

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Become the casino
  • #7,236
  • Aug 22, 2018 9:46am Aug 22, 2018 9:46am
best i can come up with is if pb is followed by thrust bar then put entry top/bottom of pb candle, otherwsie put entry at max pb point
Become the casino
  • #7,237
  • Aug 22, 2018 9:50am Aug 22, 2018 9:50am
similarly yesterday:

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Become the casino
  • #7,238
  • Aug 22, 2018 9:52am Aug 22, 2018 9:52am
Quoting erasmus66
best i can come up with is if pb is followed by thrust bar then put entry top/bottom of pb candle, otherwsie put entry at max pb point
Its an imporant issue for sure
  • #7,239
  • Aug 22, 2018 9:54am Aug 22, 2018 9:54am
Quoting erasmus66
best i can come up with is if pb is followed by thrust bar then put entry top/bottom of pb candle, otherwsie put entry at max pb point
This may be a good rule of thumb. As the thrust bar entry will be like the 1 2 3 entries before . . . .
  • #7,240
  • Aug 22, 2018 10:03am Aug 22, 2018 10:03am
Boring day trading currencies, retail sales numbers came out from Canada.. chop, chop, chop.

Switched over to enqu8.. WOW. what a beast.

Learning to reading the depth of market, seeing where all the orders are.. and its explosive.

Had some fun scalping, looks like its been a bullish day since the stock market open from 9:30am...

I can definitely see my transferring my FX experience over to this, as its quite technical.

Cheers
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