Hi everyone one. I am new here.
Cable Update (GBPUSD)
- #596,482
- Edited 10:23pm May 20, 2021 9:59pm | Edited 10:23pm
- | Additional Username | Joined Mar 2020 | 1,607 Posts
Entry and Trade Management
Entering the first trade is but difficult coz you're not sure it will hold.
That's why you can see I like to stack up my position after the first entry stick.
Normally I enter 1/10th of my position sizing to "test" if the trade works.
My interest is in taking One trade at a time, however there will come a time when I can stack trades up in the same direction when trending moves occur.
We will sometimes scale out of trades once target ranges are met so the roll back or retracing cant take profits from us.
The set up was done at Daily and/or H4. The idea is to stack the odds in your favor, to see setups that really standout and that scream at you.
Then scale down to H1/M30 and try to fine tune the entry.
One thing which I certainly do is the idea that orders stack up behind support and resistance.
Once these levels are breached price gains momentum.
However - these support & resistance levels are not always clear.
How often have we traded these and been faked out?
Often enough to make simple S&R trading not profitable, in my experience.
The logical solution is to enter later, but this often sees you lose a good chunk of the move and get stuck in consolidation.
Which brings me to my thoughts on how we can truly find an edge.
Regards
Sang Real
Edit : wrong chart. lol
Entering the first trade is but difficult coz you're not sure it will hold.
That's why you can see I like to stack up my position after the first entry stick.
Normally I enter 1/10th of my position sizing to "test" if the trade works.
My interest is in taking One trade at a time, however there will come a time when I can stack trades up in the same direction when trending moves occur.
We will sometimes scale out of trades once target ranges are met so the roll back or retracing cant take profits from us.
The set up was done at Daily and/or H4. The idea is to stack the odds in your favor, to see setups that really standout and that scream at you.
Then scale down to H1/M30 and try to fine tune the entry.
One thing which I certainly do is the idea that orders stack up behind support and resistance.
Once these levels are breached price gains momentum.
However - these support & resistance levels are not always clear.
How often have we traded these and been faked out?
Often enough to make simple S&R trading not profitable, in my experience.
The logical solution is to enter later, but this often sees you lose a good chunk of the move and get stuck in consolidation.
Which brings me to my thoughts on how we can truly find an edge.
Regards
Sang Real
Edit : wrong chart. lol
- #596,483
- May 20, 2021 10:42pm May 20, 2021 10:42pm
- | Joined Aug 2012 | Status: Trader | 2,263 Posts
A 1 pip gain is better than a 1 pip loss.
- #596,484
- May 20, 2021 10:42pm May 20, 2021 10:42pm
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #596,485
- May 20, 2021 10:45pm May 20, 2021 10:45pm
- Joined May 2020 | Status: Best trader ever to exist ever | 10,707 Posts
{quote} It's dropping right now.We have targets like 1.40500 - 1.39500 - 1.3800 ...u might suffer some draw till 10 JunePS. i was LONG at 1.38000 for 250 pips ride check my posts here on GU chat.U forgot what makes money here "Buy low, sell high" Am short here at 1.41400 , you do the math for me.
- #596,486
- May 20, 2021 10:54pm May 20, 2021 10:54pm
- Joined Mar 2017 | Status: american cichlid lover | 1,302 Posts
just woke up...
owh i missed that 20 bears...
the daily wait and see game begin .
owh i missed that 20 bears...
the daily wait and see game begin .
Trade with prediction = witch with her visions lol
- #596,487
- May 20, 2021 11:02pm May 20, 2021 11:02pm
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #596,488
- May 20, 2021 11:03pm May 20, 2021 11:03pm
- Joined Mar 2017 | Status: american cichlid lover | 1,302 Posts
{quote} SL banged ~ . ~
Trade with prediction = witch with her visions lol
- #596,490
- May 20, 2021 11:10pm May 20, 2021 11:10pm
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
{quote} wekekekekekek
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #596,491
- May 20, 2021 11:10pm May 20, 2021 11:10pm
- Joined May 2009 | Status: trader | 2,034 Posts
will it get back to 1.42.. this week?
1.4200
- #596,494
- May 20, 2021 11:17pm May 20, 2021 11:17pm
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #596,496
- Edited 11:34pm May 20, 2021 11:19pm | Edited 11:34pm
- Joined Sep 2009 | Status: Trader | 6,009 Posts
They have started the crookery early today
No view just gonna be ultra cautious and wait for a solid setup if it arises
I don't see a major selling area until high 1.42s now. HOWEVER, DXY back on multi year support.. so anything can happen
Time for some hindsight analysis, totally missed that nice s/w zone on the 4h around 1.41
No view just gonna be ultra cautious and wait for a solid setup if it arises
I don't see a major selling area until high 1.42s now. HOWEVER, DXY back on multi year support.. so anything can happen
Time for some hindsight analysis, totally missed that nice s/w zone on the 4h around 1.41
- #596,498
- May 20, 2021 11:20pm May 20, 2021 11:20pm
- Joined Mar 2017 | Status: american cichlid lover | 1,302 Posts
{quote} what your view brother today haha, seem bull in action to get some high today
disciplined my self just to trade what i see and its not much,,, its only 10 to 20 ,,
coz sometimes bias become ego ...lol
but looked at the daily ,, the h4 ... the direction is up
Trade with prediction = witch with her visions lol
- #596,499
- May 20, 2021 11:25pm May 20, 2021 11:25pm
- Joined Mar 2021 | Status: Crazy Frog | 3,775 Posts
{quote} i have no bias when im trading... disciplined my self just to trade what i see and its not much,,, its only 10 to 20 ,, coz sometimes bias become ego ...lol
1.4200 have many hidden seller there , if price will go up , should already break that 1.4200 with at least 40-50 pip move , not lying like crappy shiity thing haha
the price action never hestite to move
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
- #596,500
- May 20, 2021 11:31pm May 20, 2021 11:31pm
- Joined Mar 2017 | Status: american cichlid lover | 1,302 Posts
{quote} not sure yet cause daily put some move and h4 havent close , still my feeling for bear today . 1.4200 have many hidden seller there , if price will go up , should already break that 1.4200 with at least 40-50 pip move , not lying like crappy shiity thing haha the price action never hestite to move
youre right its lying there for sometimes..
see? im shitty on bias things
but i try my best to see and not failed my daily target. its only 10 to 20 for f***sake
Trade with prediction = witch with her visions lol