Williams%R, SAR X-over 15 minute candles

It's funny how out of an entire thread of trading with great information being presented a poker message gets my attention the most lol. Do you play seriously or is it just more of a casual thing for you? I got my feet wet with trading from a background of card counting in blackjack and am always interested in games where you can establish an edge and make money out of

No play online but not for money, poker is a good mental exercise for me. If I'm patient I will usually come out ahead, if not I'll lose.

I wondering why you chose the level you did instead of this level?

For entering the trade? I wasn't up yet. I used most recent resistance, I usually do. If you notice also previous resistance became support, in tightening PA, price is squeezing which often will lead to a breakout. Just a question of how much.

Ah okay that makes sense. The psychology behind playing poker, blackjack and being a trader all tie in together too. Plus watching poker on TV is so relaxing for me kinda like watching golf.

Think ive seen this indi on another thread, A Great programmer called swing man, if you search Swingmans profile you should get be able to find it ...

D1

Thanks Snail

I need your help with a project. Reach out buddy

Up really early today started trading about 4:45am earliest for me in a long time. 5 trades 3 Aud pairs and 2 GBP pairs. Heres Aud trades GBP's still open.

Didn't have much time got scheduled for the vaccine this morning, so was hoping for a few quick easy trades. 3 wins 0 losses pretty good day.

That's it I'm done.

Nice trades Orrunec. Good luck with Vaccine.

Had 2 index trades 1 small win on S & P and nice win on Nasdaq. Talked myself out of a nice win on the Russell. Dow PA was too jumpy.
Same with Oil.

Hi Rocky,
Could you tell us why you exit a trade when you do , as I notice there was many more pips to go on some trades you have taken , perhaps you could explain what you look out for.
Many Thanks
Geoff

Hi Rockypoint are you still only trading Tue-Thur ? cheers

Tues. thru thurs. definite yes, but also will check things mon. and fri. and might trade. With the whole covid thing still living here with curfews and restrictions, so plenty of time.

Geoffrey,

I limit myself to 2 or 3 hours trading, so today for instance I'd be done by 8am my time at latest. Some days showing very dynamic PA I might go longer but not often. Next my target for day on FX is 100 pips if I'm at or near that I will most often shut down. Over the years I've found trying to get every pip can often backfire especially on the more volatile pairs like Gbp.

Today if I'd stayed till 8am on Aud/Cad +10 pips, Aud/Jpy +3, Aud/Usd +6, Gbp/Jpy -14, Gbp/Usd exactly the same.

But with Gbp pairs I would've exited earlier on pullbacks having Jpy be -8, Usd be -9.

So trying to pull a few more pips nets me +2-5 pips not worth a hours time. Are there other days I could've made a lot more yes. Are there other days could've lost some profits yes. Things tend to even out in the end.

You have to realize trading even successfully is imperfect. You will never make every entry at the perfect time, You will never always make perfect exit for the most pips, you will always miss some opportunities, there will be times when trading seems simple and times when you feel a little lost. Try to stay on an even keel and realize you will never do this perfectly. Set reasonable goals and stick to them. For me 100 pips is a good target but that's not where I started it was at 10 and every time I could consistently hit that goal I bumped it another 10.

Another piece of info as it relates to my trading, someone is bound to ask why not use trailing stops. I don't like them. Is that entirely rational , No it's not. I have my little things I just don't like, trailing stops, candle stick formations of more than 2 bars(though I do like 3 bar breakout), EA's, Black Box systems, Complicated systems, trading Chf and leaving trades open when I'm not at the computer. Are all these bad things no they are not(except black box systems always promoted as the holy grail).

Hi Rockypoint,
Thank you for your valuable insight. I'm new here, also to forex trading and hoping to learn from you. What PA book would you recommend for beginner? Thanking you in advance.
Ariela