Do we know know how many R that loss is or don't you work that way?
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Disliked{quote} Dont worry about it David, its about learning from our mistakes. Do we know know how many R that loss is or don't you work that way?Ignored
DislikedIt'sDavid, what trade monitor are you using?, mine is different,.no drawdowns and dates...Ignored
Disliked{quote} Dont worry about it David, its about learning from our mistakes. Do we know know how many R that loss is or don't you work that way?Ignored
Disliked{quote} When assisting new traders with rules it is imperative that the information presented is true and correct Making a correction to a recent post by a veteran 30 year full time trader is difficult, but sometimes necessary, below is an example of a recent post (3972 by (RobinHood) The chart did not copy here, so go back and look at the chart to see what he is talking about. This line is correct If the candles are blue/blue and the HMA is green and the the RSI is above the Purple 50 Line, only take long trades on a 4 Hr. or Daily chart. t This...Ignored
Disliked{quote} I have a few mistakes to learn from, but to be honest a lot of it is stuff that could have gone my way but didn't. I'm not sure I should have moved my first profit point from 25 to 30 pips, I saw quite a few hit around the 27 and 28 area before retracing. I'm also looking at how I better make us of TMA bands. I am thinking of cutting out crossover trades where they need to break the TMA line in order to profit, and only taking continuations in that situation. I've observed (at least on the 4H) that crossovers that are already at the limit...Ignored
Disliked{quote} Hi David, I had to google this and I am still none the wiser. I have 2 demo accounts with different brokers and the H4 candle close time is as follows:- FxPro is the same as yours 6am,10am and 2pm (UK) FXCM is 5am,9am and 1pm so might be better for some people. For some reason I assumed the H4 candle closed at the same time everywhere round the world but it appears some brokers use Central time, pacific time, NY time. I guess choose the broker that fits your trading times best. Perhaps one of our more experienced traders can shed more light...Ignored
Disliked{quote} Hi David, I had to google this and I am still none the wiser. I have 2 demo accounts with different brokers and the H4 candle close time is as follows:- FxPro is the same as yours 6am,10am and 2pm (UK) FXCM is 5am,9am and 1pm so might be better for some people. For some reason I assumed the H4 candle closed at the same time everywhere round the world but it appears some brokers use Central time, pacific time, NY time. I guess choose the broker that fits your trading times best. Perhaps one of our more experienced traders can shed more light...Ignored
Disliked{quote} It doesn't matter. Just trade what you see on YOUR chart. The only reason to worry about matching someone else's broker times is if your are trying to match each other's setups as closely as possible. Even then, unless you use the same broker, the spread differences introduce subtle deviations that can result in occasional differences in signals between two traders.Ignored
Disliked{quote} Cheers DrDave. I was just curious as to why the H4 candle is not synchronized around the world. i do trade what the chart is telling me but some peoples H4 finish an hour later and I can do both brokers H4 candles closing at different times. A bit wierd I think. If I miss one H4, I can look at the other one.Ignored
Disliked{quote} Thanks, I just re-read that and thought “hmm... I wonder if he knows what he typed.”, but if us newbies are paying attention, we knew what he meant to say. Thanks for pointing this out to those that didn’t.Ignored
DislikedTrade report for the week. 3rd consecutive week in the green. Up 4R, which is nice. But I've got a problem with the start of the week, just like last week: I started with 9 (!) consecutive losers. And then made it all up during the rest of the week, but it made me want to check the days graph on MyFX: {image} Well, out of the 115 trades I've taken so far, Monday and Tuesday are not where I shine, to say the least. I'm going to impose myself, at least for a limited time, to not take a trade on Mondays, and instead just watch for setups & observe...Ignored
Disliked{quote} I have seen lots of Forex traders that don't trade on Mondays.Ignored
Disliked{quote} Thanks, I just re-read that and thought “hmm... I wonder if he knows what he typed.”, but if us newbies are paying attention, we knew what he meant to say. Thanks for pointing this out to those that didn’t.Ignored
DislikedThank you RH and all. Your method is interesting. I have subscribed and will try this method on H1 TF. Especially for continuation entry, because I am a intraday trader and have not been patient enough to wait for the H4 signal. (from Bahasa Indonesia with google translate)Ignored