trading is like dancing, don't think and just listen to the music!
- Joined Aug 2010 | Status: absolute beginner | 4,927 Posts
trading is like dancing, don't think and just listen to the music!
- Joined Oct 2007 | Status: Thanking GOD for today | 1,105 Posts
{quote} Nice going Swingtrade. I closed at 7 pips for the same reason. Is probably my best trade of the week.
Plan, Prepare, Execute, Repeat
- Joined Aug 2010 | Status: EsikeTrader | 2,222 Posts
fxrabbi-style, +10 scalp on m1: {image}
Happy trading
Be Dumb and Follow Price
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Looks like many of you are making great progress and lots of pips/points. Great to see!
Here are a couple of Nasdaq trades I took this evening, for a total of around 80 points.
First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established.
Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit was just before another structural high (solid red line again) and seems like a pretty good exit as price is now struggling to break it.
Although I'm not posting so much lately - I am still watching the thread closely so keep posting please. I do my best to respond to any queries quickly or provide feedback where required.
Here are a couple of Nasdaq trades I took this evening, for a total of around 80 points.
First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established.
Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit was just before another structural high (solid red line again) and seems like a pretty good exit as price is now struggling to break it.
Although I'm not posting so much lately - I am still watching the thread closely so keep posting please. I do my best to respond to any queries quickly or provide feedback where required.
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
One more from today. Dow this time - worth around 75 points.
Entry was a break of the structural low (solid red line) and a cross of the -50.
The sharp-eyed among you will notice that we actually went back above -50 at some point, so why didn't I get out?
Well, because the market structure had changed, I was expecting a Lower High to follow the established Lower Low. This is what played out and I sat through some drawdown for a little while. If you look left, you will see why I exited where I did.
Entry was a break of the structural low (solid red line) and a cross of the -50.
The sharp-eyed among you will notice that we actually went back above -50 at some point, so why didn't I get out?
Well, because the market structure had changed, I was expecting a Lower High to follow the established Lower Low. This is what played out and I sat through some drawdown for a little while. If you look left, you will see why I exited where I did.
- Joined Aug 2018 | Status: Trader | 1,436 Posts
Looks like many of you are making great progress and lots of pips/points. Great to see! Here are a couple of Nasdaq trades I took this evening, for a total of around 80 points. {image} First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established. Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit...
.....I can understand clean charts like yours.I have a question,your entries are on M1 I see,which is the ultimate scalping TF I'd say....which is the highest timeframe would you refer to,on making a decision on M1 entries.Not sure if you answered this in a past message/reply.Thank you.
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
{quote} Congrats Laura you're the forex structural engineer lol
But to answer your question, I find the 15m chart to be ideal for seeing just the big enough picture to assist with 1m entries. In fact, I used to exclusively trade just the 15m timeframe back when I traded mostly forex. As Swingtrade and others have suggested, different timeframes can serve different purposes but I'd say for scalpers the 15m is a good reference point.
the market was not kind enough to give me more . Entry was taken after LO and I took 1/2 out for 12 pips..I left the balance for my target but got stopped out at b/e+ instead {image}
But when stop-losses, they are so offensive. The price then turns in my direction. =)
This means we need to set stop losses further away. And take profit from the market on impulses and exit, and not wait for the price to run further.
It's just as if there is no inner confidence that small profits will be larger than rare but large stop losses over a long period of time. 
This means we need to set stop losses further away. And take profit from the market on impulses and exit, and not wait for the price to run further.
It's just as if there is no inner confidence that small profits will be larger than rare but large stop losses over a long period of time.
