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  • #821
  • Jul 21, 2021 8:58am Jul 21, 2021 8:58am
Quoting bilal1947
{quote} Hi nikosk0 / scherzi How far we can hold or shall take partials on the way? what shall be tp or can hold long term. {image}
I have no precise studies on that.

I usually close the whole trade in these two cases:
- I reach 1:1 or a sufficient expansion near or beyond 1:1 as long as the PA suggests I have to.
- I think my trade is wrong no matter if the trade reached or not my SL. At the very second I guess I was wrong, I close it manually.

I really would need very good reasons in order to consider establishing RRRs higher than 1:1. A lot of things should converge on a chart for me to consider doing it.

For instance, imagine that your chances of getting 1:1=70%.

If trading 1:2 offers a probability of success lower or equan than 35%, then (and ignoring comissions and spread), it should be avoided.

While if trading 1:2 has a likelyhood greater than 35%, then it would be probably advisable.

But since I keep my ideas and my head in simple terms, I avoid all that kind of speculation and try to avoid being too precise so that I can focus omy executive skills instead of managing too much variables and lose the focus.
  • #822
  • Jul 21, 2021 9:03am Jul 21, 2021 9:03am
The day expaned too much above.

It may turn back down, but I do not like selling these moves at these hours.

Not having being able to buy it and not being right with Americas session, it is time to close and leave the charts.

We should avoid overtrading or staying longer than usual just because we did not find a good setup at the right hour in my opinion.

There are a lot of chances for a drop now. But I insist, I usually trade Americas earlier. That is one of my rules.

Have a good day and trade safe.

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  • #823
  • Jul 21, 2021 9:05am Jul 21, 2021 9:05am
Quoting scherzi
{quote} I have no precise studies on that. I usually close the whole trade in these two cases: - I reach 1:1 or a sufficient expansion near or beyond 1:1 as long as the PA suggests I have to. - I think my trade is wrong no matter if the trade reached or not my SL. At the very second I guess I was wrong, I close it manually. I really would need very good reasons in order to consider establishing RRRs higher than 1:1. A lot of things should converge on a chart for me to consider doing it. For instance, imagine that your chances of getting 1:1=70%....
so entry execution is more important with an R:R 1:1 since it has high probability of 70% +
"Exchange of hands"
  • #824
  • Jul 21, 2021 9:55am Jul 21, 2021 9:55am
Quoting bilal1947
{quote} Hi nikosk0 / scherzi How far we can hold or shall take partials on the way? what shall be tp or can hold long term. {image}
i would use that area as tp but as ssaid on earlier post, i trail my trades. 0.5r 1r 5r 10r whatever, i trail 1m and 5m, when structure shifts on those i am out whether or not my trades was based off 4hrs or daily. my stops though are mostly based off biger timeframes. so the entry might be off 1m, psycological stop based on 1m but fail-safe stop is based off 4hr or daily (y know, spikes and stuff that happen)
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i had a prety good day, 2 acoutns all went up significantly, i trailed all of my trades but customer came and i missed the gu long, its was perfect. on the one account i took only an eu long but as it turned out i exited early for no reason, structure didn change it was jut big rr and as i was trailing i started to get nervous, on the other i was scalping 1m i took 10-15 trades on au gu eu gj
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Quoting scherzi
{quote} I have no precise studies on that. I usually close the whole trade in these two cases: - I reach 1:1 or a sufficient expansion near or beyond 1:1 as long as the PA suggests I have to. - I think my trade is wrong no matter if the trade reached or not my SL. At the very second I guess I was wrong, I close it manually. I really would need very good reasons in order to consider establishing RRRs higher than 1:1. A lot of things should converge on a chart for me to consider doing it. For instance, imagine that your chances of getting 1:1=70%....
first things first. do not change what works for you.

now in the seconds, if patient and have enough screentime you can get a 70% win rate with 2+ rrr. but its exhausting and i am talking about 1m 3m trades. even 5m is too slow and everyonce in a while a setups like todays gu apears that can give you easy 3rr on higher timeframes but you still need to be there for the perfect entry

Quoting bilal1947
{quote} so entry execution is more important with an R:R 1:1 since it has high probability of 70% +
entry and execution are the most important for me too. rrr is not so much. but being able to get a zero DD entry is crucial for psycological reasons mostly

BTW this was the eu trade i was talking about could have goten 50x rrr
it was on 1m tiny stop
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  • #825
  • Jul 21, 2021 12:17pm Jul 21, 2021 12:17pm
dont get confused, the one below IS a market structure trade, a breakout.
witch i am still trying to be good at, or build more confidence.
it was setup i once took as a reversal (ya know, overbought indicators and stuff like that)
upon failure i realised it works as continuation more often than not and give at least 2rr or even 3rr depengind on the spread.

it doesnt work everytime tho nor every time of the day. but if you figure it out, its good enough.

still havent mastered it
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  • #826
  • Jul 21, 2021 6:38pm Jul 21, 2021 6:38pm
Quoting nikosk0
{quote} i would use that area as tp but as ssaid on earlier post, i trail my trades. 0.5r 1r 5r 10r whatever, i trail 1m and 5m, when structure shifts on those i am out whether or not my trades was based off 4hrs or daily. my stops though are mostly based off biger timeframes. so the entry might be off 1m, psycological stop based on 1m but fail-safe stop is based off 4hr or daily (y know, spikes and stuff that happen) {image} i had a prety good day, 2 acoutns all went up significantly, i trailed all of my trades but customer came and i missed the...

I took exactly the same GU trade, up to London Open Level, as you....

As the bag of pips was full, I walked away before New York open. I usually try to finish before NY open. Do not like the cowboys session...

There were several good set-ups, however, this on AU is an ideal one.
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  • #827
  • Jul 22, 2021 1:01am Jul 22, 2021 1:01am
Quoting snail69
{quote} I took exactly the same GU trade, up to London Open Level, as you.... As the bag of pips was full, I walked away before New York open. I usually try to finish before NY open. Do not like the cowboys session... There were several good set-ups, however, this on AU is an ideal one. {image}
the harmonic below i've just now started to recognise the role of it on EU mainly. looks like a butterfly so i'll call it like that, if there i an official name let me know

update on the structures, nothing has changed apart from gu. no major structure was broken, market has no direction for me yet
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  • #828
  • Jul 22, 2021 1:32am Jul 22, 2021 1:32am
I do not like buying normally on this weak structure, but see.
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The main reason is that it is in the middle of a range and I see it more as a breakout of a range than a new positive or ascending structure.

Another problem is that the structure was formed before the European markets opened, and therefore, the huge increase of volume entering the market could literally cancel any ongoing price change. Should markets be manipulated and price just changing because of internal reasons, who knows.
  • #829
  • Jul 22, 2021 1:35am Jul 22, 2021 1:35am
Quoting scherzi
I do not like buying normally on this weak structure, but see. {image} The main reason is that it is in the middle of a range and I see it more as a breakout of a range than a new positive or ascending structure.
Lets see if it can touch 1.181
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"Exchange of hands"
  • #830
  • Jul 22, 2021 1:40am Jul 22, 2021 1:40am
Quoting nikosk0
{quote} i would use that area as tp but as ssaid on earlier post, i trail my trades. 0.5r 1r 5r 10r whatever, i trail 1m and 5m, when structure shifts on those i am out whether or not my trades was based off 4hrs or daily. my stops though are mostly based off biger timeframes. so the entry might be off 1m, psycological stop based on 1m but fail-safe stop is based off 4hr or daily (y know, spikes and stuff that happen) {image} i had a prety good day, 2 acoutns all went up significantly, i trailed all of my trades but customer came and i missed the...
I lost yesterday's obvious GBPUSD ascending M5 buying opportunity because I was convinced prices were going to fall and ignored the signals. Being biased is generally good because you wait for optimal opportunities, no matter what PA does; but you lose entries because sometimes you are not right.
  • #831
  • Jul 22, 2021 1:49am Jul 22, 2021 1:49am
Quoting bilal1947
{quote} Lets see if it can touch 1.181 {image}
See also GU how it is bulding positions there.
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We're near a m1 climax area. But that means nothing per se since m1 does not rule intra-day expansions. Just another signal to be added to the convergence bucket.
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  • #832
  • Jul 22, 2021 1:49am Jul 22, 2021 1:49am
Quoting scherzi
{quote} I lost yesterday's obvious GBPUSD ascending M5 buying opportunity because I was convinced prices were going to fall and ignored the signals. Being biased is generally good because you wait for optimal opportunities, no matter what PA does; but you lose entries because sometimes you are not right.
and at times worst we take wrong entries, and even worse to cover it enter again thinking NOW is right spot and not leaving our bias, it happened to me
"Exchange of hands"
  • #833
  • Edited 3:13am Jul 22, 2021 2:16am | Edited 3:13am
Quoting bilal1947
{quote} and at times worst we take wrong entries, and even worse to cover it enter again thinking NOW is right spot and not leaving our bias, it happened to me
fuck ye. it keeps happening from time to time to me as well.

in any case i believe that we will have a continuation of yesterdays momentum and a bullish candle close on eu gu etc the rest but in reality customers came and i missed my 2 entries on eu both time.

sucks to be me at times....

might trade some pullbacks or who knows what later in the day
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  • #834
  • Jul 22, 2021 3:56am Jul 22, 2021 3:56am
Quoting nikosk0
{quote} fuck ye. it keeps happening from time to time to me as well. in any case i believe that we will have a continuation of yesterdays momentum and a bullish candle close on eu gu etc the rest but in reality customers came and i missed my 2 entries on eu both time. sucks to be me at times.... might trade some pullbacks or who knows what later in the day {image}
Stop looking at m5 and look at the weekly and daily and see where price will be going.
Enter on m5 in direction of the htf
  • #835
  • Jul 22, 2021 4:45am Jul 22, 2021 4:45am
Quoting devontrader
{quote} Stop looking at m5 and look at the weekly and daily and see where price will be going. Enter on m5 in direction of the htf
Hi Jason,

Take a look at this Post 22
  • #836
  • Jul 22, 2021 4:46am Jul 22, 2021 4:46am
Quoting nikosk0
{quote} fuck ye. it keeps happening from time to time to me as well. in any case i believe that we will have a continuation of yesterdays momentum and a bullish candle close on eu gu etc the rest but in reality customers came and i missed my 2 entries on eu both time. sucks to be me at times.... might trade some pullbacks or who knows what later in the day {image}
Today I have paid to the marktes. In my case it is rarely by a technical issue.
  • #837
  • Jul 22, 2021 5:07am Jul 22, 2021 5:07am
Hi Nik,

I like your approach


EUR/USD M5 M1 Short Trade
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  • #838
  • Jul 22, 2021 5:13am Jul 22, 2021 5:13am
Quoting stevepatt
Hi Nik, I like your approach EUR/USD M5 M1 Short Trade {image}
Steve why the LL?? Imbalance maybe ?
  • #839
  • Jul 22, 2021 5:14am Jul 22, 2021 5:14am
I think that today GU is just retesting this area here.

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For me, D1 shows a nearby critical low, because the highs seem strong while the lows seem weak.

And I have this feeling for EU.
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  • #840
  • Jul 22, 2021 5:19am Jul 22, 2021 5:19am
Quoting scherzi
I think that today GU is just retesting this area here. {image} For me, D1 shows a nearby critical low, because the highs seem strong while the lows seem weak. And I have this feeling for EU. {image}
I agree with the EU retrace.....back to retest orderblock.....eu news ahead?

Also 2days of equal highs...nice pot of money up there saying scoop me up
.
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