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The Jail Break System

  • #5,581
  • Jan 31, 2020 4:53am Jan 31, 2020 4:53am
Quoting prozor7
{quote} keep it simple if you believe that price is going up than enter @ bottom of the box if you believe that price is going down than enter @ top of the box you have to defend yours believes with money - than you have to ask yourself hardest question: HOW MUCH I'M WILLING TO LOSE? pro7
Time & Price Forecast - Jenkins
  • #5,582
  • Jan 31, 2020 4:55am Jan 31, 2020 4:55am
Quoting Kruspe
{quote} AUDUSD We are below 0.67
watching for 0.6660s for R
Time & Price Forecast - Jenkins
  • #5,583
  • Jan 31, 2020 4:57am Jan 31, 2020 4:57am
Quoting Leacher
Morning all caution! Last W1 and M1 Day - BREXIT would trade small, if given any opportunity some overstretched pairs like EA, AU, and others in small ranges - Patience I have realized that proper D1R is very important for Direction we will see
You do make a point here...
"The market doesn't care about you, stop hoping it will." Dirk
  • #5,584
  • Jan 31, 2020 4:59am Jan 31, 2020 4:59am
Hello Poker Chip

You were spot on with buying USDCAD. The MM made everyone think it was selling with that big red candle last night.

My trades have just hit my TP of 1.32390.

Regards N
  • #5,585
  • Jan 31, 2020 5:05am Jan 31, 2020 5:05am
Quoting billytt
Morning all. 00-00 4 hour break. Both usd/chf and gbp/chf have broken High, SOOOOOO I am Long. I am not touching Dax, ftse or cable, BUT, I do have a short trigger on Cable just in case it flips, this is more of a fun trade. Trade well all. t 06-46 UK Time.
u r fast!

UCHF:
already getting in and out since yesterday as D1R is confirmed
only taking the long side of the trades
lets see what it does today, have a long bias as long as D1R is not taken out
Time & Price Forecast - Jenkins
  • #5,586
  • Jan 31, 2020 5:09am Jan 31, 2020 5:09am
Quoting prozor7
{quote} always remind yourself how much I'm willing to lose and "Analysis Paralysis" will go away!!!! edit: find yours worst day of trading and tell yourself "Look if I can survive that than I can survive anything"
My worst day in trading?

So many to choose from

Today is pretty close, I have a big draw down on 2 Aud pairs, I know the corona virus as had a big impact, hope thing turn around soon for all the people affected and for my account balance
  • #5,587
  • Jan 31, 2020 5:16am Jan 31, 2020 5:16am
Quoting billytt
{quote} Hi Mucky, hope all is well. With the counter trades I do...…. I have been told many times and rightly so, I still lose that money. I suppose I do . I find it easier to use than a stop especially trading manually. (this is a long story). For the record, using a counter, I can honestly say I haven't had a loss for a long time, (years) It is only when you close a trade you fail. Only trouble now is the stupid big margin needed to trade. What you posted above is correct. Trade well bud.
plz do enlighten us with the Trade management skills, that you have learnt an practice

making a trade call is the easy part, managing it is a skill!

big margin and leaving a losing trade for days/weeks may not be possible for most here

found peace with comfortable trade size. should it go against, double on D1R. works well

how come loss is out of your dictionary?
Time & Price Forecast - Jenkins
  • #5,588
  • Jan 31, 2020 5:21am Jan 31, 2020 5:21am
EG - Old Love

D1R Primary: Confirmed for Long

Double Bottom on Second D1R

H4: R in the making

anyone? maybe Do Nothing. watch only. as BREXIT-D
Time & Price Forecast - Jenkins
  • #5,589
  • Jan 31, 2020 5:24am Jan 31, 2020 5:24am
Quoting ukmartin
{quote} My worst day in trading? So many to choose from Today is pretty close, I have a big draw down on 2 Aud pairs, I know the corona virus as had a big impact, hope thing turn around soon for all the people affected and for my account balance
reason that you have big DD is because you
1. didn't set Stop Loss
2. enter to big lot for the account
3. mind playing with you
4. not focus on now
5. lack of confident (no SL)
6. no trading plan (again no SL)
7. trading based on hope not fact or PA
8. panic
9. Risk / Reward bigger than 1:1
10 analysis / paralysis

be honest and find yourself in above than eliminate threat. I'm sure that this group will help you, I will

pro7
Forex can only be understood backwards, but it must be traded forwards.
  • #5,590
  • Jan 31, 2020 5:30am Jan 31, 2020 5:30am
Quoting Leacher
{quote} u r fast! UCHF: already getting in and out since yesterday as D1R is confirmed only taking the long side of the trades lets see what it does today, have a long bias as long as D1R is not taken out
usd/chf I traded the high break and then the low break looking for daily range, but it was really slow , so closed my short.
all finished now BUT , I keep looking at it again to short, But I wont lol.
t 11-30
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,591
  • Jan 31, 2020 5:31am Jan 31, 2020 5:31am
"see" you later remember it's FRYday
Forex can only be understood backwards, but it must be traded forwards.
  • #5,592
  • Jan 31, 2020 5:42am Jan 31, 2020 5:42am
Quoting prozor7
"see" you later remember it's FRYday
Ha ha L.O.L.
Attached Image
  • #5,593
  • Jan 31, 2020 5:42am Jan 31, 2020 5:42am
Quoting Leacher
{quote} plz do enlighten us with the Trade management skills, that you have learnt an practice making a trade call is the easy part, managing it is a skill! big margin and leaving a losing trade for days/weeks may not be possible for most here found peace with comfortable trade size. should it go against, double on D1R. works well how come loss is out of your dictionary?
loos out of my dictionary???, I was joking. BUT because I counter and then fix a fail, it doesn't actually lose.
You are right about ridiculous margin, I do keep emphasizing that..
A few years ago you could have a £20 trade and keep doubling it up without the margin, I did. then margin went up and again.

I have/do have counters which can go over a day or two, and yes I am charged for the pleasure , but that is a part of trading, like paying taxes etc.
I have a method where strike rate is approx. 90%, you can still lose on this.
I have my frequency distribution stats, and I see what percentages/outcomes I can employ, BUT I THEN TAKE A PERCENTAGE OF THAT, that gives me added edge.
I never go for the full amount.
I started with very little capital <<<<<almost nothing , lost and lost then realised I don't do anything Forex tells us, I traded with the market makers to the groups of buyers/sellers and stuck to it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,594
  • Jan 31, 2020 5:42am Jan 31, 2020 5:42am
https://news.sky.com/story/fca-looki...ision-11922264

enjoy the read. did u see it coming???
  • #5,595
  • Jan 31, 2020 5:58am Jan 31, 2020 5:58am
Quoting prozor7
{quote} reason that you have big DD is because you 1. didn't set Stop Loss 2. enter to big lot for the account 3. mind playing with you 4. not focus on now 5. lack of confident (no SL) 6. no trading plan (again no SL) 7. trading based on hope not fact or PA 8. panic 9. Risk / Reward bigger than 1:1 10 analysis / paralysis be honest and find yourself in above than eliminate threat. I'm sure that this group will help you, I will pro7
Very Nicely Analyzed. Most of us, including me, falls frequent victim of many of the items listed.

As for AU, know that Commodity Pairs (AU,CAD, NZ) tends to over stretch in both directions until they suck blood completely.
We have AU RATE Decision Next Week - currently - a CUT to 0.50 - fundamentally negative -but could be an R -follow PA on D

I have lot sized as per my max/risk/day/pair.

I'm in DD with EA at a comfortable level. Waiting for D1 Reversal for double Down, which should arrive next week around AU Rate Decision. Market is Smart and tends to priceIN Info early!
Time & Price Forecast - Jenkins
  • #5,596
  • Jan 31, 2020 6:12am Jan 31, 2020 6:12am
Quoting billytt
{quote} usd/chf I traded the high break and then the low break looking for daily range, but it was really slow , so closed my short. all finished now BUT , I keep looking at it again to short, But I wont lol. t 11-30

looking and wont trade...interesting.

looking for a swing bottom on 1H to make long!
Time & Price Forecast - Jenkins
  • #5,597
  • Jan 31, 2020 6:14am Jan 31, 2020 6:14am
Quoting billytt
{quote} usd/chf I traded the high break and then the low break looking for daily range, but it was really slow , so closed my short. all finished now BUT , I keep looking at it again to short, But I wont lol. t 11-30
Billy, good job!

So you trade both directions if there is still enough space within ADR?

Thanks
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  • #5,598
  • Jan 31, 2020 6:14am Jan 31, 2020 6:14am
Quoting pamc
https://news.sky.com/story/fca-looki...ision-11922264 enjoy the read. did u see it coming???

thanks!
Time & Price Forecast - Jenkins
  • #5,599
  • Jan 31, 2020 6:26am Jan 31, 2020 6:26am
Quoting Kruspe
{quote} Billy, good job! So you trade both directions if there is still enough space within ADR? Thanks {image}
yes, if one end breaks x amount and then retraces to break other end, AND WE HAVE A GOOD %%% of daily range left. I also look at the shortest candle for the previous 5 days, but not always.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #5,600
  • Jan 31, 2020 6:35am Jan 31, 2020 6:35am
Quoting billytt
{quote} loos out of my dictionary???, I was joking. BUT because I counter and then fix a fail, it doesn't actually lose. You are right about ridiculous margin, I do keep emphasizing that.. A few years ago you could have a £20 trade and keep doubling it up without the margin, I did. then margin went up and again. I have/do have counters which can go over a day or two, and yes I am charged for the pleasure , but that is a part of trading, like paying taxes etc. I have a method where strike rate is approx. 90%, you can still lose on this. I have my...

Interesting. plz go on...………………………………

how do you manage a losing trade without stop loss?
Time & Price Forecast - Jenkins
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