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In One Sentence - How Do You Trade?

  • #142
  • Apr 29, 2020 2:32am Apr 29, 2020 2:32am
In a slow moving day, such as today's London session, I re-evaluate the potential reaction/turning zones/levels I had identified and wait for price action; e.g. for day trading (which I do about 20-30% of the time), checking my zones every four hours.

KP
Do your homework, follow the footprints of smart money
  • #143
  • Apr 29, 2020 2:56am Apr 29, 2020 2:56am
If you run into a forest to escape a serial killer who is chasing you, will you hide behind the nearest tree, or will you run deep into the forest to find the best hiding place?.......think about that when you place your SL.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #144
  • Apr 29, 2020 2:57am Apr 29, 2020 2:57am
In the attached AUDUSD chart, for example, I will not be interested in trading the pair unless price action shows me a feasible setup at the magenta zone.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_April 29, 2020.png Size: 40 KB


Quoting KeenPips
In a slow moving day, such as today's London session, I re-evaluate the potential reaction/turning zones/levels I had identified and wait for price action; e.g. for day trading (which I do about 20-30% of the time), checking my zones every four hours. KP
Do your homework, follow the footprints of smart money
  • #145
  • Apr 29, 2020 3:30am Apr 29, 2020 3:30am
Good point there mate; some use ATR to set sl, I use market structure for what I call my capital protection order (CPO).

KP

Quoting realjumper
If you run into a forest to escape a serial killer who is chasing you, will you hide behind the nearest tree, or will you run deep into the forest to find the best hiding place?.......think about that when you place your SL.
Do your homework, follow the footprints of smart money
  • #146
  • Apr 29, 2020 3:38am Apr 29, 2020 3:38am
Quoting KeenPips
Good point there mate; some use ATR to set sl, I use market structure for what I call my capital protection order (CPO). KP {quote}
There's a 'Part 2' to what I said above, which I'll post tomorrow after people have had time to think!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #147
  • Apr 29, 2020 5:44am Apr 29, 2020 5:44am
Quoting realjumper
If you run into a forest to escape a serial killer who is chasing you, will you hide behind the nearest tree, or will you run deep into the forest to find the best hiding place?.......think about that when you place your SL.
If I am a CAT that is wearing boots that break twigs loudly in the forest, I would take the nearest tree. As I am a Cat, I have 8 more lives to live.

Thing about survival as a trader
Trading thin liquidity at the boundary of the charts
  • #148
  • Apr 29, 2020 5:49am Apr 29, 2020 5:49am
Quoting realjumper
If you run into a forest to escape a serial killer who is chasing you, will you hide behind the nearest tree, or will you run deep into the forest to find the best hiding place?.......think about that when you place your SL.
I would avoid hiding in the most obvious place. It's not about losing lives, you have only one.
It never gets easier, you just get better
  • #149
  • Apr 29, 2020 6:11am Apr 29, 2020 6:11am


Quoting Shabs19
{quote} I would avoid hiding in the most obvious place. It's not about losing lives, you have only one.
Do your homework, follow the footprints of smart money
  • #150
  • Apr 30, 2020 1:13am Apr 30, 2020 1:13am
Quoting realjumper
{quote} There's a 'Part 2' to what I said above, which I'll post tomorrow after people have had time to think!
Do not sit there (like a muppet) and watch your SL get eaten by mister market.....accept when you are wrong (because the market is never wrong) and exit the trade, re-evaluate and move on.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #151
  • Apr 30, 2020 1:14am Apr 30, 2020 1:14am
Quoting realjumper
{quote} Do not sit there (like a muppet) and watch your SL get eaten by mister market.....accept when you are wrong (because the market is never wrong) and exit the trade, re-evaluate and move on.

You can only trade tomorrow if your account survives today!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #152
  • Apr 30, 2020 7:15am Apr 30, 2020 7:15am
Badly...
Compulsions can be hard to resist
  • #153
  • Apr 30, 2020 7:43am Apr 30, 2020 7:43am
In one sentence, tell us how you trade; not how well or badly you trade.

KP

Quoting trumps
Badly...
Do your homework, follow the footprints of smart money
  • #154
  • Edited 12:56pm Apr 30, 2020 12:44pm | Edited 12:56pm
pro.. vit... able ... opps look like 3 ...
  • #155
  • Apr 30, 2020 1:24pm Apr 30, 2020 1:24pm
Quoting KeenPips
In one sentence, tell us how you trade; not how well or badly you trade. KP {quote}
Yeah I know, just joking.
Multi-time frame Swing trading.
Compulsions can be hard to resist
  • #156
  • May 1, 2020 7:11am May 1, 2020 7:11am
Like I mentioned in an earlier post, I rarely trade on Fridays; but when I do, I don't go beyond the London session.

KP
Do your homework, follow the footprints of smart money
  • #157
  • May 1, 2020 9:10am May 1, 2020 9:10am
For my swing trading, directional alignment of market operation on HTFs is important.

KP
Do your homework, follow the footprints of smart money
  • #158
  • May 1, 2020 10:17am May 1, 2020 10:17am
Hi Keen,

Why don't you go beyond the London session?

And if you allow me another question regarding the direction of the HTF: If you have, for example, 2-3 HTF, it does not happen to you that when only the least of them "marks" a "new trend", it is when the trend of the immediately higher HTF continues opposite?

regards and Good weekend

PS: I don't know if my English is good enough to explain, sorry ...
Newbie trader
  • #159
  • May 1, 2020 10:36am May 1, 2020 10:36am
Never mind your English mate. First question answered: I want to close any open position, except swing trading position, early enough before I get hooked in aimless moves or drying up of liquidity. Second question answered: My swing trading involves leaving a trade open for more than one day, at times a few weeks. Therefore, I need to have good directional backing from the main HTFs I use - MN, W1 and D1. They must all be aligned. If not, it will be a day-trading setup.

Stay safe.

KP

Quoting fex
Hi Keen, Why don't you go beyond the London session? And if you allow me another question regarding the direction of the HTF: If you have, for example, 2-3 HTF, it does not happen to you that when only the least of them "marks" a "new trend", it is when the trend of the immediately higher HTF continues opposite? regards and Good weekend PS: I don't know if my English is good enough to explain, sorry ...
Do your homework, follow the footprints of smart money
  • #160
  • May 4, 2020 4:34pm May 4, 2020 4:34pm
For me, Forex trading is basically a matter of waiting patiently for the market to meet your trading criteria.

KP
Do your homework, follow the footprints of smart money
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