6
How Hard Was Your Forex Beginning? Share to Encourage others 3 replies
Trading Options... What I've learned (the hard way) 45 replies
forex ain't hard 17 replies
New trading system hard to completely follow... anyone ever have this problem? 0 replies
DislikedHello, thank you mate for allowing everyone to post here. I'm practicing and trading 1m and 5m naked chart for a while now but sometimes i feel like i missing something, i don't know if it's just more confidence or a technical issue. I'm reading and studying this thread to learn more, people like you and JensG are a pearl in this ocean. May i ask you a couple of things? 1) Do you analyze higher timeframes to realize if you will be on the right side of the micro-trend? Or it's just a feeling due to the micro price action in that zone? 2) Sometimes...Ignored
Disliked{quote} 1) Do you analyze higher timeframes to realize if you will be on the right side of the micro-trend? Or it's just a feeling due to the micro price action in that zone? No, to be honest I look out for channels/trends but im only looking to make a few pips per trade and not hold, so I'm not bothered about analysing trends on a chart too much, I'm more focused on the reversal of the current legs and nearby levels that could disrupt my trade. 2) Sometimes you talk about slow and speed of price action during live charts. With this you mean the...Ignored
DislikedI would like to give a few tips here, as I was recently contacted privately, but think this information is better kept public for everyone. General recommendation for all who want to trade like this: Depending on your monitor and field of vision, arrange 3-5 charts from top to bottom on the screen. Jumping back and forth between charts is nonsense, it doesn't work because you lose the feeling for the price action each time. My personal preference: EUR/USD, GBP/USD, USD/CAD, AUD/USD. In addition, there are sometimes small information advantages if...Ignored
Disliked@Jaymantos: Yes, that looks good. As an additional recommendation, I would add horizontal lines or a grid to make it easier to spot areas that are on a similar price level than the PA you're currently watching. @jojofx A higher timeframe doesn't really make sense for what we're doing. Understanding the bigger picture is important, sure. Veni and also I talked about it here before, but our bigger picture is usually visible within the last couple of hours because of the short holding time and not some overarching trend that lasted the last couple...Ignored
DislikedHi Veni and Jens, Would you take the same trade? Where would you put your positive stop loss after price reversing? My earlier plan is to put SL to BE once it reverses, but as we can see, the price suddenly move against it, which will stop my trade at BE. On that trade, i close it early after seeing big long leg, which i think tend to be reversed. But i will miss more profit, if the price keep moving down {image}Ignored
DislikedHi Veni and Jens, Would you take the same trade? Where would you put your positive stop loss after price reversing? My earlier plan is to put SL to BE once it reverses, but as we can see, the price suddenly move against it, which will stop my trade at BE. On that trade, i close it early after seeing big long leg, which i think tend to be reversed. But i will miss more profit, if the price keep moving down {image}Ignored
Disliked{quote} I did take this trade this morning. It was on EUR/USD, wasn't it? I put my entry a little bit higher than you to make sure the previous low was safely broken. This was a buy-trade in a downward channel within a downtrend after all. Be that as it may, momentum was on our side and this channel showed good legs in both directions but, because of these circumstances, I decided to not move my SL into positive territory but instead to exit manually. I typically don't bet on channels to be broken, so there is no point in trying and milk it, furthermore,...Ignored
Disliked{quote} I got a bit confused reading this then I realized Jens thought you took a buy trade, I think Jens spotted the wrong thing on the chart, correct me if im wrong so I outlined his trade more clearly. He took the short from the leg with the trend. {image}Ignored
Disliked{image}{image}{image} A leg up was formed and I started to look for opportunities to get in on a reversal, getting in too close to that previous daily high didnt make sense, I would be risking a continuation of a bullish trend, so I waited for price to get back downwards within the earlier range below the days high, with a little bearish momentum whilst looking at the nearest levels (disturbances) to keep me alerted to where I would possibly have to close my trade.Ignored