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  • #121
  • Feb 16, 2019 1:34pm Feb 16, 2019 1:34pm
From my experience, both these timeframes are useful. As usual, I use three main timeframes in one window: 5M, 15M and daily. As an alternative, it is possible to use combination of 1M, 5M and 1H - in depends on your strategy.
  • #122
  • Feb 16, 2019 8:21pm Feb 16, 2019 8:21pm
Dang watching M1 and daily together is quite the gap.

In my mind regardless of the entry time frame you’re watching you gotta be aware of the bigger daily levels. Even weekly zones, cuz thats where the longer term strong/weak fundamentals will come into play.
  • #123
  • Feb 16, 2019 8:59pm Feb 16, 2019 8:59pm
Quoting rudy5
Dang watching M1 and daily together is quite the gap. In my mind regardless of the entry time frame you’re watching you gotta be aware of the bigger daily levels. Even weekly zones, cuz thats where the longer term strong/weak fundamentals will come into play.
Somewhat, but we’re talking about making 5 to 10 pip scalps here. There can also be too much information leading to paralysis... which goes back to what Veni said, something along the lines of “just take the trade”.
Small disciplines repeated with consistency lead to great achievements.
  • #124
  • Feb 17, 2019 2:24pm Feb 17, 2019 2:24pm
Indeed.

However we get paid to analyze information correctly. So it would make sense then that the more info you can appropriately analyze (what’s important, what’s not, and everything in between) the more profit potential there is.

Is it it all worth it? Not for everyone. Just depends on what your goals are with trading
  • #125
  • Feb 17, 2019 2:43pm Feb 17, 2019 2:43pm
Quoting rudy5
Indeed. However we get paid to analyze information correctly. So it would make sense then that the more info you can appropriately analyze (what’s important, what’s not, and everything in between) the more profit potential there is. Is it it all worth it? Not for everyone. Just depends on what your goals are with trading
You don't need any analysis, on the contrary the simpler the better.
What you need to know is how this greedy game work.

Edit:
Think what you want ... and feel free not to believe me
Have a good week
POW!
  • #126
  • Feb 17, 2019 5:59pm Feb 17, 2019 5:59pm
Lol. So is your screen turned off while you trade?

dont tell the banks, they’re wasting millions on analysts every year!

Dont get me wrong I think I understand where you’re coming from. I just think it coulda been said better lol
  • #127
  • Feb 20, 2019 2:41pm Feb 20, 2019 2:41pm
Quoting Sesamstrasse
{quote} I took some textbook trades from page one {quote} .. and support becomes resistance.. and vice versa.
The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned support will destroy your trade
  • #128
  • Feb 20, 2019 3:08pm Feb 20, 2019 3:08pm
Quoting sharingan9
{quote} 1.The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. 2.You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned...
1. I can 't see any issue .. works fine ..
2. No thanks.. I m good.

✌Guido
Risiko birgt immer auch die Chance.
  • #129
  • Feb 20, 2019 6:04pm Feb 20, 2019 6:04pm
Quoting sharingan9
{quote} The issue with this system is that the rules of the textbook trades from page 1 are countered by resistance becoming support/becoming resistance and trends. I mentioned this last year and I knew this thread was not going to be successful because the system can not stand alone. You would need more than the rules on page 1 to trade this effectively. You would have to do other analysis to make sure it works other wise a strong trend and support turned resistance/resistance turned support will destroy your trade
You need to understand how this game works.

The rest it´s the usual ... discipline, do not be greedy, keep the losses short, etc ...
POW!
  • #130
  • Feb 20, 2019 6:37pm Feb 20, 2019 6:37pm
Quoting Sesamstrasse
{quote} 1. I can 't see any issue .. works fine .. 2. No thanks.. I m good. ✌Guido
1. You can see the issue clearly, but I will highlight them for you: OP decided to leave because few people are using the system. Few people are using this system because it generates losses in strong trends/strong s/r when you follow original rules(range can turn into a trend whenever) with out adding things to it as the you, others and the OP have done throughout the thread.

2. I do not doubt that you are a great trader, but I know the first page rules are not the only rules you follow because you have taken different types of trade setups in this very thread such as channel breakouts than you commented saying you "took some textbook trades". The fact that you had to specify you took some textbook trades shows that you have been taking trades that are NOT textbook and do not follow the exact rules. So stop lying to yourself and others to make a point.

Keep getting more pips, and God Bless you and your family
  • #131
  • Feb 20, 2019 6:47pm Feb 20, 2019 6:47pm
Quoting fxprimate
{quote} You need to understand how this game works. The rest it´s the usual ... discipline, do not be greedy, keep the losses short, etc ...
I am sure you are an excellent trader and I would never presume that you are a rookie trader. I would appreciate it if you would extend me that very same courtesy and do not presume that I am a rookie trader and not attempt to educate me on basic "babypips" trading fundamentals such as discipline, greed, and keeping losses short all of which I am fully aware, all of which I fully understand, all of which I implement. So please do not presume anything without context. My last year's results:


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I keep my losses very short...........when I have them
  • #132
  • Feb 20, 2019 6:58pm Feb 20, 2019 6:58pm
Quoting sharingan9
{quote} I am sure you are an excellent trader and I would never presume that you are a rookie trader. I would appreciate it if you would extend me that very same courtesy and do not presume that I am a rookie trader and not attempt to educate me on basic "babypips" trading fundamentals such as discipline, greed, and keeping losses short all of which I am fully aware, all of which I fully understand, all of which I implement. So please do not presume anything without context. My last year's results: {image} I keep my losses very short...........when...
Congratulations
POW!
  • #133
  • Feb 21, 2019 12:46pm Feb 21, 2019 12:46pm
Hmmmm seems you are a very good trader

took a little scalp short here to catch it as it fell back within the last swing high. Classic first page trade, but context is everything
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  • #134
  • Feb 22, 2019 6:14am Feb 22, 2019 6:14am
Thanks for sharing Man.

Training live with lower lots until I get the hang of it. I exited this with +1.6 pips but I could have gotten more.

How do you determine when to exit? I'm guessing experience plays a big part.

Here is EU
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  • #135
  • Feb 22, 2019 10:11am Feb 22, 2019 10:11am
Forex trading is hard , its true but most hard is news trading , i have lost so much money only during news from my first step of trading. just nothing to say.
  • #136
  • Feb 22, 2019 10:13am Feb 22, 2019 10:13am
Quoting NathanAstel
Forex trading is hard , its true but most hard is news trading , i have lost so much money only during news from my first step of trading. just nothing to say.
this happens to rookie traders,i also lost my first account on draghi news,ever since then i dont trade news at all.trading news is not intelligent because we can not fight with banks.
Trading manually is really difficult,when i was newbie or i learnt trading for few years,whenver i place order,it goes against me,because retail trades are being manipulated by brokers and MM.so its a hard game,but one can win with lots of hard work and intelligence.
  • #137
  • Feb 22, 2019 11:53am Feb 22, 2019 11:53am
Quoting Orangejuice
Thanks for sharing Man. Training live with lower lots until I get the hang of it. I exited this with +1.6 pips but I could have gotten more. How do you determine when to exit? I'm guessing experience plays a big part. Here is EU {image}
The easiest targets are 50 retracement a or previous swing highs/lows. I’m not sure about a long there, but the structure that formed last time price was down there looks a lot like an accumulation so had you gotten in on that one it’s clear to see price went back to prior big swing low
  • #138
  • Feb 22, 2019 11:24pm Feb 22, 2019 11:24pm
Quoting rudy5
{quote} The easiest targets are 50 retracement a or previous swing highs/lows. I’m not sure about a long there, but the structure that formed last time price was down there looks a lot like an accumulation so had you gotten in on that one it’s clear to see price went back to prior big swing low
Thanks, so targeting the 50% retracement should be a standard or a fixed 5pips tp.

I was only picking trades with possible reversals and only focus on scalping a few pips.
Need to work more on PA reading skills and practicing.

Exited around this area
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  • #139
  • Feb 22, 2019 11:33pm Feb 22, 2019 11:33pm
Yeah that would be a good target.

I’d avoid the fixed pip target as you’re trying to force the market to fit your target and your either asking for too much or not enough in 99% of the trades. Focus on the PA and set your targets based on the market.
  • #140
  • Feb 23, 2019 12:05am Feb 23, 2019 12:05am
Quoting rudy5
Y\\I’d avoid the fixed pip target as you’re trying to force the market to fit your target and your either asking for too much or not enough in 99% of the trades. Focus on the PA and set your targets based on the market.
So much truth in this..
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