Morning Max
- #3,321
- May 6, 2021 4:37am May 6, 2021 4:37am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
- #3,323
- May 6, 2021 5:26am May 6, 2021 5:26am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
{quote} hey, nice to see your still banking the points
- #3,324
- May 6, 2021 10:41am May 6, 2021 10:41am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Nice rejection at D-R1 this morning bagged a few. Below the Open now leaving a test of D-PP a probability which, could provide a nice reaction
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- #3,325
- May 6, 2021 10:51am May 6, 2021 10:51am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
Long Dax from just below D-Open
Bit of a late entry (school run 
)
Out +72
Long Dax from just below D-Open {image}
)Long Dax from just below D-Open {quote} Bit of a late entry (school run
- #3,326
- Edited May 7, 2021 10:09am May 6, 2021 11:20pm | Edited May 7, 2021 10:09am
Gidday every one. As this may help the newbies, shall post my first stage of analyse with gold. Normally I keep it a simple black and white but for this example have added colour and a bit of explanation. If this meets with approval shall post additional honing in on shorter time frames when time permits. Simple as it seems the below is a vital step in the start of understanding and gaining an edge and outcome. {image}
{quote} Gidday Pips The best advice I think any one can give you is to go over all the excellent examples posted on this forum copy them on your free simulated platform and begin by putting in your support and resistance levels, zoom the chart in and out and use different time frames. By doing this continually you will begin to see patterns and hence trading levels all along with your pivots. Do not use a real account when starting. After saying that I guess what I am indicating here is giving advice is on a hole not the way to get people started...
- #3,332
- Edited 1:50am May 9, 2021 12:56am | Edited 1:50am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
{quote} I appreciate you guys helping newbie traders like me with these useful information. i wanted to ask if i wanted to trade only one time frame, eg, 15 min or 1Hr what important levels should i add because i don't want to add every level that is offered in the pivot prof, i just the ones that are really useful and want to keep it clean and simple. Your feedback will be greatly appreciated.
As duskyboy rightly said, mindset and money management is king in this game. Using pivots will give you excellent S&R levels from which to open and close trades. In the beginning i would advise to stick with that and just observe how price reacts around these levels on a daily basis using different timeframes. I tend to pull the trigger on 5 & 15 min TF's but get my information from 15min, 30 min and hourly. ALWAYS look left at previous structure of price as this will have a strong bearing on what is happening right now and what has a high probability of happening.
There is a lot more you can add to the mix which i use, all of which work very well and can be used on their own to trade successfully but you have a lot to take in at this stage so my best advice is to not search for trades, they WILL jump out at you when you begin to 'see' price rather than just look at it.
Pivots and structure is all you need to trade profitably and a binary mindset, right - wrong - in - out
All pivot levels are important depending on each day's volatility btw. Some days all the action is either above or below the open, other days the open will sit in the middle of huge swings.
Welcome and good luck
{quote} Hi pips
- #3,338
- May 11, 2021 10:39am May 11, 2021 10:39am
Hello gents. Hope all are well. Short dax below S3. took one earlier as well for +70 at S1 I think we should be looking for Ms1. Bargain!Edit: Half off +35. rest to run to ms1. {image}
- #3,340
- May 12, 2021 12:13am May 12, 2021 12:13am
{quote} It took it's time but a very nice 100 point reaction
Well Max hope you do not mind me pushing my barrow here with this longer TF approach and examples.
I shall put up one more post to help and encourage the newbies with a little extra content on a the shorter TF entry and confirmation to complete my former charts.
Some of you will by now be saying why is this bloke putting up this type of trade, especially as all the former chart examples are short TF,s.
Believe me when I say my example really are gifts from god, they may take longer to develop and action but that has its benefits and rewards.
May have mentioned earlier this is as simple and safe as it gets with the mechanical approach using price action and the pivot tool.
The $28 gold outcome or 2800 pip one piece move rockets the account into overdrive.
Example, for a small investment off one full contract that's a fast $28000 gift.
Shall post a couple of charts, the four hour is a little messy with explanation.
Many pips to you all.
