Hi Paxilein. You need to spend more time on a simulator. The charts are presenting a story, you are not seeing it. You need to practice. We all started at the same point so don’t be disillusioned.
Yesterday I had this nice correlation between M15 35 and RN on first touch... the 35 also isn't flat...However... Just 6 minutes later
Did I do something wrong?
You are allowed to fall but you are imposed to get up!
Now this is what I call constrainment. I wanted to enter 7 pips earlier but my wife had different opinion... Phlong37 is confused as some examples in the manual are not clear. I have attached the DanceTOC. file where you can have all the links to some of the most important posts in this thread. There you can find information about constrainments as well...The file was not created from me though...I dont really remember the guy's name
{image} {file}
Hi iero,
thanks for posting! I was looking at this setup as well the whole day. I didn't pull the trigger though, because frankly I was too scared, didn't have a clue in which direction price will go. Better sideline then loosing money. But I want to learn from your trade and I've a couple of questions. I would be happy if you could shed some light :-)
1. what was your entry trigger? Price was caught between RN and Daily pivor the previous hours. Why enter exacty at the time you did? It was a good decision, because if was the breakout bar which retested the Daily R1. But why enter exactly at that time and not sooner or later (which would have been to late in this case).
2. Why did you decide to go long? Probably as the channel indicates, it's the direction of the trend. However price previously bounced against the Daily R1 and also didn't close above the RN. From my point of view there is a valid argument for trading both directions. Trading long is definitely the stronger argument, but it's not something one could classify as an AAA trade or is it?
- #15,884
- Oct 10, 2020 9:16pm Oct 10, 2020 9:16pm
{quote} First of all you have too much zoom in at your charts and I can't see the MAs slope clear. Second, the touch that you are reffering to is the 2nd or maybe the 3rd
It's never too late to make a bad trade!
- #15,885
- Oct 10, 2020 9:23pm Oct 10, 2020 9:23pm
Hi Paxilein. You need to spend more time on a simulator. The charts are presenting a story, you are not seeing it. You need to practice. We all started at the same point so don’t be disillusioned.
I document all trades with Drawdown and Pip-Potential. So I can compare the results of my trade to the actual potential results each trade would've given and so improve the results over time by adjusting the TP or even SL.
I also have columns for documenting which touch it was... while I focus on 1st touches I sometimes, like in that case, misread the touches and then it might get messed up
I'm currently also trying to find a working EA that can do the trade-management as I live in a weird time Zone to trade GU and might just be able to open a trade before going to bed and then the EA has to do the candlestick-trail and closing half at +15 for example...
It's never too late to make a bad trade!
- #15,886
- Oct 11, 2020 11:56am Oct 11, 2020 11:56am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #15,887
- Oct 11, 2020 2:06pm Oct 11, 2020 2:06pm
Now this is what I call constrainment. I wanted to enter 7 pips earlier but my wife had different opinion
- #15,888
- Oct 11, 2020 2:26pm Oct 11, 2020 2:26pm
- Joined Sep 2016 | Status: Its my job to know what others dont | 1,348 Posts
{quote} I don't give up.... My trades are quite good and I just want to figure out what I can improve on the red trades.... {image} I document all trades with Drawdown and Pip-Potential. So I can compare the results of my trade to the actual potential results each trade would've given and so improve the results over time by adjusting the TP or even SL. I also have columns for documenting which touch it was... while I focus on 1st touches I sometimes, like in that case, misread the touches and then it might get messed up
WaBaS Where are Buyers and Sellers
- #15,892
- Oct 12, 2020 9:18am Oct 12, 2020 9:18am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #15,894
- Oct 12, 2020 10:08am Oct 12, 2020 10:08am
{quote} Yep, I moved to BE+1 and was stopped out as BE-1, the SL was not respected, probably due to the lack of liquidity. And of course, as usual my target was reached after that.
{image}
You count to ten, and then...
- #15,895
- Oct 12, 2020 10:19am Oct 12, 2020 10:19am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #15,897
- Oct 13, 2020 3:35am Oct 13, 2020 3:35am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
The Blue Box is the area where I'm planning to SELL.
That could start with a second touch of the M15 10EMA (Watch it in M15 time frame) in confluence with Daily S1 and Monthly Pivot. It may go up to H1 10EMA in confluence with M15 35/50 that are nicely close together in a nice down angle.
The target could be Weekly Pivot close to Daily S2.
That could start with a second touch of the M15 10EMA (Watch it in M15 time frame) in confluence with Daily S1 and Monthly Pivot. It may go up to H1 10EMA in confluence with M15 35/50 that are nicely close together in a nice down angle.
The target could be Weekly Pivot close to Daily S2.
The Blue Box is the area where I'm planning to SELL. That could start with a second touch of the M15 10EMA (Watch it in M15 time frame) in confluence with Daily S1 and Monthly Pivot. It may go up to H1 10EMA in confluence with M15 35/50 that are nicely close together in a nice down angle. The target could be Weekly Pivot close to Daily S2. {image}
You are allowed to fall but you are imposed to get up!