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  • #51,901
  • Oct 11, 2018 11:29am Oct 11, 2018 11:29am
I'm hoping it tests that high again so I can potentially get another short in.
  • #51,902
  • Oct 11, 2018 11:32am Oct 11, 2018 11:32am
Fix scalp ...

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Perfection is the enemy of good enough!
  • #51,903
  • Oct 11, 2018 11:34am Oct 11, 2018 11:34am
Quoting Donwealt
Have spent months trying fruitlessly to harmonize Safe SL(based on price structure) and comfortable SL (specified amount of pips one is willing to loose to see if a trade will work). Comfortable SL that does not meet the SAFE SL criteria run a higher risk of being hit out while setup is still valid. SAFE SL that is too big for comfort, makes the mind restless and leads to poor trade management. Trading only those setups where SAFE SL is just comfortable pipwise, means missing a great number of good setups just like 3 I missed today....All turned...
do not use all your money for one trade. divide your funds into a few portions. this so then you will have money to take advantage of other "opportunities".
As Above, So Below
  • #51,904
  • Oct 11, 2018 11:35am Oct 11, 2018 11:35am
Quoting mbrown
I'm hoping it tests that high again so I can potentially get another short in.
it will and not only.
As Above, So Below
  • #51,905
  • Oct 11, 2018 11:37am Oct 11, 2018 11:37am
Hi Ata,

I m enjoying your system. It has made things so easy that I can believe that I m making money easily. Thanks!

I just avoid red news. And all goes well.

Thanks buddy
  • #51,906
  • Oct 11, 2018 11:38am Oct 11, 2018 11:38am
EU 5 M + 15 M
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yes yes yes
  • #51,907
  • Oct 11, 2018 11:40am Oct 11, 2018 11:40am
A short at 1581 and SL 15835 looks attractive.
  • #51,908
  • Oct 11, 2018 11:42am Oct 11, 2018 11:42am
Quoting sponge
Starting to sound like a broken record but the weekly trend line (blue line) is still in charge We may see a break soon. {image}
Action replay

1.1600 would break it.
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All charts/ideas based on UK time zone
  • #51,909
  • Oct 11, 2018 11:50am Oct 11, 2018 11:50am
Quoting basit1
Hi Ata, I m enjoying your system. It has made things so easy that I can believe that I m making money easily. Thanks! I just avoid red news. And all goes well. Thanks buddy

post some charts and setups.... noones used his trendline break since he's left. id be pissed off if all us other miscreants used every other technique except the one spent so long teaching
buy the rumor,sell the news
  • #51,910
  • Oct 11, 2018 11:51am Oct 11, 2018 11:51am
Quoting Moty
EUROPE , WE HAVE A PROBLAM. The good data from the US lately , will probably cause further interest rate hikes. all the time it's echoing in my head, so I'm always looking for places where the dollar can get stronger. Today he has reached such a point dx d1 + h1{image}{image} eu d1 + h1{image}{image} eur/jpy {image}
Echo s in your head dont pay ,,what does the chart say ?
  • #51,911
  • Oct 11, 2018 12:01pm Oct 11, 2018 12:01pm
Quoting MzansiObi
{quote} Don, its all about probability and levels. The reality is we win some we loose some. Had three trades yesterday. Two made money one got stopped out, but overal picture was still profitable risk reward. follow your rules and by all means, something very key is picking the levels. while lower time frames may pose nice setups consider where they are in the greater scheme of things. If its mid range id rather sit out in a bid to avoid massive DD. Just my 2cents worth. Often times our analysis is correct but we enter prematurely...just like a...
Already have a setup that I follow. On the average, it's minimum favourable excursion 30 pips. So most times after 30pips, I'm looking to close the trade.
Often like my SL to be BTW 10 to 15 pips.
Most times when my setup occurs, setting that 15 pips SL, will not fit price structure and could easily be hit out without price showing any indication of changing direction.
On the other hand, setting a safe SL based on the price structure I'm seeing with it's S/R levels, mean having 20 to 30pips SL which I'm not comfortable with. Mind you my target is about 30pips.

I resolved to take only those setups whereby I can set SAFE 15pips SL. ( the price structure is such that 15pips SL achieves safety) But with this, a lot of setups come and go and I couldn't enter. Today I had 3 setups. I took none because of this. If I had taken those 3 setups, I would have been over 100pips today. But I didn't and I got nothing and I'm annoyed with myself.

My question is should I just set the comfortable 15pips SL irrespective of price structure when the setup occurs?
Or
Should I always set SAFE SL based on price structure whenever setup occurs disregarding the effect on the R:R ratio? Extending the target may be out of the question because the the big SL showed that a great chunk of the anticipated move has occurred by the time the candle that established the setup closed.
  • #51,912
  • Oct 11, 2018 12:03pm Oct 11, 2018 12:03pm
Quoting mbrown
A short at 1581 and SL 15835 looks attractive.
i almost double dipped and hedged at that level but didn't pull the trigger
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,913
  • Oct 11, 2018 12:06pm Oct 11, 2018 12:06pm
Quoting wasntme
{quote} post some charts and setups.... noones used his trendline break since he's left. id be pissed off if all us other miscreants used every other technique except the one spent so long teaching
Im sure their is a few using it ,, as stated himself ,, it is not the only thing he uses ,, it is was a simple and relatively stress free way to get a clue to those who had none ,,,how many times can it be explained and gone over ,,,,, comes a time that it just has to be practiced by those who were serious ,,, questions have been answered over and over ,, ,,dont think the rule said that way was the only way discussed here ,,any rate ,, its a damn good methodology to use if if one has no clue what so ever ,,, kinda went from a learning to people wanting an exact point to enter and a guarantee ,,the mkt dont work that way ,,there are no guarantees
  • #51,914
  • Oct 11, 2018 12:07pm Oct 11, 2018 12:07pm
Quoting engweijie
{quote} I’d go with safe. Money is money and honestly, principle wise even if you’re comfortable with losing x amount of dollars doesn’t mean you just give it up like that - might as well throw it out the window. IMO safe (and tight) SL at strong S/R is the option I would choose, because price doesn’t travel linearly.. if you enter just at the S/R areas and you’re stopped out, chances are price will re-test that area at least one or two more times before making a decision on whether it’s plowing through or bouncing back. Making less money beats...
I'm seriously considering the safe SL option. I'm just considering the r:r ratio.
I'm not yet a fan of trailing till infinity.
Less than 40% of my trades move significantly greater than the Average favourable excursion. After a certain amount of pips, I look to get out.
  • #51,915
  • Oct 11, 2018 12:08pm Oct 11, 2018 12:08pm
Quoting Donwealt
Have spent months trying fruitlessly to harmonize Safe SL(based on price structure) and comfortable SL (specified amount of pips one is willing to loose to see if a trade will work). Comfortable SL that does not meet the SAFE SL criteria run a higher risk of being hit out while setup is still valid. SAFE SL that is too big for comfort, makes the mind restless and leads to poor trade management. Trading only those setups where SAFE SL is just comfortable pipwise, means missing a great number of good setups just like 3 I missed today....All turned...
Hi Donwealt,

you already received some quote... here is mine.
i would say it roughly, resumed.. hope you catch it.
my trading became much more healthy when i stop to look for money or pips... pick the bottom, pick the top, find reversals, etc...
i stop doing that long time ago.
i target myself to make my account rise 1% per day.
i target myself to not lose more than 1% of my account.
That can be achieved with 5 pips run, 10, 15, 50, 80 pips runs... up or down!
when the good setup comes along, is a math thing.
i don't care to catch all pips of the day! most of my trades are for 10pips target (mean). and that's it!
When setup comes, according to my balance, i set my lot size in order to XXpips=1% account increase.

1st i find the setup.
2nd i define where will be my SL (mostly mental).
3rd measure distance in pips.
4th define % to risk (mine is 1%).
5th set lot size.
Shoot.

if bad trade, i lose 1% and i can live another day.
if trade fire, i can lock profit at 1%, (move SL to profit lock) and trail... to 2%, 3%...whatever market gives you.

That's where most of the traders fails. DISCIPLINE.
do not overtrade, do not get greedy.
Set your rising target per day. When target is hit, CLOSE THE DAY!

Hit and run... go to demo, make some nice charts, post something here...


it's called exponential growth
If you don't know how to earn money, don't loose it.
  • #51,916
  • Oct 11, 2018 12:09pm Oct 11, 2018 12:09pm
Quoting hdlSA
I think we need to see what build up we get here. Can come down into the channel or go further. Got lucky, switched from short to long seconds before the jump. {image}
There is no luck in the mkt ,,, chance favors a prepared mind ,,good job
  • #51,917
  • Oct 11, 2018 12:10pm Oct 11, 2018 12:10pm
Quoting basit1
Hi Ata, I m enjoying your system. It has made things so easy that I can believe that I m making money easily. Thanks! I just avoid red news. And all goes well. Thanks buddy
can you tell me please what is the Ata's system. which system you using
WMTP (Where is MahiN There is Problem)
  • #51,918
  • Oct 11, 2018 12:11pm Oct 11, 2018 12:11pm
Quoting Donwealt
{quote} Already have a setup that I follow. On the average, it's minimum favourable excursion 30 pips. So most times after 30pips, I'm looking to close the trade. Often like my SL to be BTW 10 to 15 pips. Most times when my setup occurs, setting that 15 pips SL, will not fit price structure and could easily be hit out without price showing any indication of changing direction. On the other hand, setting a safe SL based on the price structure I'm seeing with it's S/R levels, mean having 20 to 30pips SL which I'm not comfortable with. Mind you my...

Maybe reduce your lot size then so that you get comfortable with the safe one?
4&1 All Time Profit: $37,496
  • #51,919
  • Oct 11, 2018 12:12pm Oct 11, 2018 12:12pm
Quoting wasntme
{quote} post some charts and setups.... noones used his trendline break since he's left. id be pissed off if all us other miscreants used every other technique except the one spent so long teaching
I still using his teachs...
tunned to my style!

but the base is there!
If you don't know how to earn money, don't loose it.
  • #51,920
  • Oct 11, 2018 12:13pm Oct 11, 2018 12:13pm
Quoting Moty
EU 5 M + 15 M {image} {image}
Moty my man, you keep talking about 'crooks'. Forget the noisy M5 for a moment and look at your 1 hr. It is all normal 'break a supply/demand area, test it and move on". Even your MA's are supporting the current up move. It would not surprise me a bit to see 6200 today, seriously. I just think you shorted too early, it happens to all of us. Just my opinion
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TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
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