trading is like dancing, don't think and just listen to the music!
- #1,061
- Jul 27, 2021 5:16am Jul 27, 2021 5:16am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
- #1,062
- Jul 27, 2021 5:22am Jul 27, 2021 5:22am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #1,063
- Jul 27, 2021 5:26am Jul 27, 2021 5:26am
- Joined Oct 2007 | Status: Thanking GOD for today | 1,108 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
- #1,064
- Jul 27, 2021 5:51am Jul 27, 2021 5:51am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
fxrabbi-style, +10 scalp on m1: {image}
Happy trading
Time always comes before price
- #1,068
- Jul 27, 2021 12:23pm Jul 27, 2021 12:23pm
- 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.
- #1,069
- Jul 27, 2021 12:32pm Jul 27, 2021 12:32pm
- 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.
- #1,070
- Jul 27, 2021 1:39pm Jul 27, 2021 1:39pm
- Joined Aug 2018 | Status: Trader | 1,458 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.
- #1,071
- Jul 27, 2021 1:51pm Jul 27, 2021 1:51pm
- 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.
- #1,073
- Jul 28, 2021 3:25am Jul 28, 2021 3:25am
- Joined Aug 2012 | Status: Trader | 18,672 Posts
the cautious seldom err....C
- #1,075
- Jul 28, 2021 5:54am Jul 28, 2021 5:54am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
- #1,076
- Jul 28, 2021 8:52am Jul 28, 2021 8:52am
- Joined Aug 2012 | Status: Trader | 18,672 Posts
the cautious seldom err....C
- #1,077
- Jul 28, 2021 11:32am Jul 28, 2021 11:32am
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}
- #1,079
- Jul 28, 2021 11:45am Jul 28, 2021 11:45am
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.
- #1,080
- Jul 28, 2021 11:50am Jul 28, 2021 11:50am
But in such a situation, a short stop loss saved my money.
Maybe after the stop loss, you should immediately open a trade in the other direction? And only if it turns out to be unprofitable, then leave this market due to uncertainty? 
Maybe after the stop loss, you should immediately open a trade in the other direction? And only if it turns out to be unprofitable, then leave this market due to uncertainty?