The real Basics - how to start and how avoid the traps | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Metatrader Error Traps MT4 and MT5 10 replies

Introduction and trading basics 27 replies

Back to basics or information overload? 12 replies

:: Smithy's Live Trades :: (EMA's / Pivots / News Traps) 10 replies

Trading Basics: Concepts and Psychology 0 replies

Attachments: The real Basics - how to start and how avoid the traps
Exit Attachments

The real Basics - how to start and how avoid the traps

  • #161
  • Edited 7:28am Jan 24, 2020 7:14am | Edited 7:28am
Quoting kirosa
Hello again guys i watched the chart the last days. The first Picture is from day one where i marked some boxes i saw. What i see are fast moves then it slowes. Goes sidways and then it breaks in one direction. or in a trend it pauses makes a retrace and goes further. Yea thats what i saw the first day i hope its not complete bullshit. {image} So now the second day. I marked it now in an different way with a ruler and not in mt4 anymore. to not get distracted. The lines are a bit to thick {image} After checking i think i have marked...
Good drawings. Price not endless moving also not for ever stay at one place. It is good to train the eye to find a balance between the "snake" and the white area. If you focus to near the snake you have no clue what is providing the area. If you only focus to much to the area you not near enough to the line. The entry model must keep this balanced.

Have a look what i see in the last example.
That works for me, because i have train my eyes to this patterns. At the circles i will enter, after i have a notice a move away from the patterns. I do not enter to early anymore and i know it will reduce my risk/reward, but also reduce that i am picked up by false movements. As you can see here in the past, for any chart we can get several opinions and all will work.

Attached Image (click to enlarge)
Click to Enlarge Name: Training_14_drawings.png Size: 93 KB
Perfection is the enemy of good enough!
  • #162
  • Edited 9:48am Jan 24, 2020 9:06am | Edited 9:48am
Thanks you very much for your answer. I will keep this in mind when i Draw again and again.

When i See your Chart drawing i think i See that i Look in too small pattern.

This Weekend i will Draw on every Chart you have posted Here. Maybe i find Something i can take AS entry and Exit.

Well its a Lot to learn.
  • #163
  • Jan 24, 2020 12:57pm Jan 24, 2020 12:57pm
Hello again. I cant wait to post and ask for your feedback.

this is the first chart i have marked. The stuff i found the most here are trendline breaks in trends.

Its only a simple idea but maybe it makes sense. I will see if i can see this pattern in the other charts.

Attached Image (click to enlarge)
Click to Enlarge Name: Training 1.png Size: 70 KB



Happy to see your feedback.
  • #164
  • Jan 24, 2020 1:27pm Jan 24, 2020 1:27pm
Quoting kirosa
Hello again. I cant wait to post and ask for your feedback. this is the first chart i have marked. The stuff i found the most here are trendline breaks in trends. Its only a simple idea but maybe it makes sense. I will see if i can see this pattern in the other charts. {image} Happy to see your feedback.
Looks pretty good. As long you have a desicion point (one you only need!) and you able to produce a routine for it, you can enter the market. You can nothing do if price went against your routine and means not it will never work again. The core part is risk management.
Perfection is the enemy of good enough!
  • #165
  • Jan 24, 2020 1:36pm Jan 24, 2020 1:36pm
And again a new example ...
Attached Image (click to enlarge)
Click to Enlarge Name: Training_15.png Size: 12 KB
Perfection is the enemy of good enough!
  • #166
  • Jan 24, 2020 2:53pm Jan 24, 2020 2:53pm
thanks for sharing
  • #167
  • Feb 16, 2020 2:13pm Feb 16, 2020 2:13pm
Quoting MichaelSch
And again a new example ... {image}
I see only now this thread and I hope it isn't dead

BTW here's my analysis of your last chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Training_15.png Size: 30 KB
"In ancient times they had no statistics so they had to fall back on lies."
  • #168
  • Jun 18, 2020 3:18am Jun 18, 2020 3:18am
I will post something in this thread again, to bring it back.

If you be patient, you will reach your target.

Attached Image (click to enlarge)
Click to Enlarge Name: Example.png Size: 11 KB
Perfection is the enemy of good enough!
  • #169
  • Jun 18, 2020 3:54am Jun 18, 2020 3:54am
And the next one.

Attached Image (click to enlarge)
Click to Enlarge Name: Example02.png Size: 14 KB
Perfection is the enemy of good enough!
  • #170
  • Jun 19, 2020 1:15am Jun 19, 2020 1:15am
Attached Image (click to enlarge)
Click to Enlarge Name: Example03.png Size: 43 KB
Perfection is the enemy of good enough!
  • #171
  • Jun 19, 2020 1:35am Jun 19, 2020 1:35am
... and going on.

Attached Image (click to enlarge)
Click to Enlarge Name: Example04.png Size: 30 KB
Perfection is the enemy of good enough!
  • #172
  • Edited 2:53am Jun 19, 2020 2:36am | Edited 2:53am
Attached Image (click to enlarge)
Click to Enlarge Name: Example05.png Size: 29 KB


... this is not tough and be something that any new trader can learn in short time.

Edit:

Around trading you can get huge amount of commercial. You do not need it really, because all you need to make money from trading is for free around! Be careful and not invest too much in books/systems.
Perfection is the enemy of good enough!
  • #173
  • Jun 19, 2020 3:28am Jun 19, 2020 3:28am
Hi MichaelSch,
I follow your thread ... very interesting and instructive ...
This thread is the "vision" of the market closest to the way I do that I have seen here at FF ...
I found the way to "fine-tune" those entries a lot ...
thanks for your selfless effort ...

waiting for more...
regards and thanks
Newbie trader
  • #174
  • Jun 19, 2020 3:32am Jun 19, 2020 3:32am
Quoting fex
Hi MichaelSch, I follow your thread ... very interesting and instructive ... This thread is the "vision" of the market closest to the way I do that I have seen here at FF ... I found the way to "fine-tune" those entries a lot ... thanks for your selfless effort ... waiting for more... regards and thanks
Many thanks for those words. We have collect an incredible amount of great informations. I am happy jmflukeiii, stevepatt, piptracy ... take in past part here and share the way they see the market. Another great member, but not part here i highly recommend is piptalk, have a look also.

In other words, if you able to go in the thinking of the named member and practice it over and over again, your way is a good one.
Perfection is the enemy of good enough!
  • #175
  • Jun 19, 2020 3:40am Jun 19, 2020 3:40am
Your post brought me here.

Stay safe, trade safe.

KP

Quoting fex
Hi MichaelSch, I follow your thread ... very interesting and instructive ... This thread is the "vision" of the market closest to the way I do that I have seen here at FF ... I found the way to "fine-tune" those entries a lot ... thanks for your selfless effort ... waiting for more... regards and thanks
Do your homework, follow the footprints of smart money
  • #176
  • Jun 19, 2020 4:14am Jun 19, 2020 4:14am
Let me add my opinion that a trader can minimize being sucked in by market manipulation at an S/R zone by waiting for at least the H4 candlestick to close. Taking a trade at such a zone when the H4 candlestick has not closed is an invitation to fall for market makers' manipulation.

KP
Do your homework, follow the footprints of smart money
  • #177
  • Edited 4:51am Jun 19, 2020 4:40am | Edited 4:51am
Attached Image (click to enlarge)
Click to Enlarge Name: Example06.png Size: 24 KB


In the past trades i show how i mark patterns and wait for the reaction after the breakout. Often price comes back and i use this for my entry here.
If you daytrade, you will not have countless levels. A few are in play and able to produce good trading oppertunities.

A hint:
Please go through thread and explore how good the other ones explain the examples. Much deeper informations, as i did here. I do not want to place my sight in the light so much. In the next days i will share blank charts again, who user can pick up.
Perfection is the enemy of good enough!
  • #178
  • Jun 19, 2020 5:22am Jun 19, 2020 5:22am
Attached Image (click to enlarge)
Click to Enlarge Name: Example07.png Size: 26 KB


.. went good. Next picture will be a new clean example and hope it will pick up.
Perfection is the enemy of good enough!
  • #179
  • Jun 19, 2020 5:34am Jun 19, 2020 5:34am
Quoting MichaelSch
{image} .. went good. Next picture will be a new clean example and hope it will pick up.
I just realized that I'm in the same operation in exactly the same place as you ...

regards
Newbie trader
  • #180
  • Jun 19, 2020 5:45am Jun 19, 2020 5:45am
Here we go and as in the past, have fun and be calm doing it.

Attached Image (click to enlarge)
Click to Enlarge Name: Training_restart_01.png Size: 9 KB
Perfection is the enemy of good enough!
0 traders viewing now