{quote} In your example I don't understand entry 1, I see two strong bullish candlesticks
So after understanding that post, the two main things that stick out to me:
1) It looks like price approached one of those areas that is a key level on a higher timeframe. I'll post a screenshot below to make it clearer.
2) The momentum of price as it turned away from that point after the two bullish bars.
Number 2 is probably most important and I think this is why Veni says screen time is so vital. This is all just a guess though and Veni can chime in with what really happened if he'd like.
I have a lot to learn...in the examples that you expose in both I would have had losses. In the veni graph I see that the impulses are the same as the setbacks or I would be out or I would surely have entered late. And in the Fenix graph I would have stayed with the previous range looking for a buy and in the fall it would hit me... there is much to learn
).A lot of hassle could be avoided by understanding that:
1. It's just a "game" of probabilities
2. The method doesn't even matter, as long as you always use the same. It doesn't need to be be able to predict stuff, be always right and "understand" every tick of the market since 1970 on all timeframes. The method serves as a lense to highlight probabilities for your brain. It must be simple, and always looking for the same general ideas. Believe the pros who say you could make money with any method (after watching market through it for a long enough time). Over time, your brain starts picking up on probabilities after doing wrong things over and over again through that method. You start realizing "Ok, I should probably exit now ("based on the 90 previous times I held from there and market just retraced to my stop")".
Therefore the biggest mistake people can make is to jump from one "system" to another constantly. It will obliterate any chance they have to start trading profitably one day.
No tree, it is said, can grow to heaven unless its roots reach down to hell
