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  • #1,214,041
  • Apr 28, 2022 1:35am Apr 28, 2022 1:35am
Quoting PatienceFx
{quote} try something on demo use 61.8% of last closed candle as guide
wait i will cook something for you
  • #1,214,042
  • Apr 28, 2022 1:37am Apr 28, 2022 1:37am
Quoting Js3mwtRc
{quote} Because I though I would leave with some pips gain with only 15-30 minutes of job on daily basis. This is a mistake I did when I was new trader and don't like what I see in new traders now.
Im trying to learn myself, actually trying to make it a habit, taking 1st profit after 20-30 pips, for example on EU, with stop loss about the same, 20-30p, then i usually just set breakeven.
  • #1,214,043
  • Apr 28, 2022 1:47am Apr 28, 2022 1:47am
Quoting PatienceFx
{quote} wait i will cook something for you
here you go

you can change the timeframe in settigs

it will draw a line at 61.8 of last closed candle on the time frame you select

so you can decide whether to buy or sell
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 Js3mwtRc.ex4   9 KB | 261 downloads
  • #1,214,044
  • Apr 28, 2022 1:48am Apr 28, 2022 1:48am
Quoting BlueGas
{quote} Im trying to learn myself, actually trying to make it a habit, taking 1st profit after 20-30 pips, for example on EU, with stop loss about the same, 20-30p, then i usually just set breakeven.
It a dead-end. You will not make money, only you will give it to your broker, by paying the spreads.

Best for me is to sell Daily/Weekly chart highs by using resistance and supply this time of the year.

Patience thinks I am newbie
Looking for profitable short term trades ...|
  • #1,214,045
  • Apr 28, 2022 1:51am Apr 28, 2022 1:51am
Quoting Js3mwtRc
{quote} It a dead-end. You will not make money, only you will give it to your broker, by paying the spreads. Best for me is to sell Daily/Weekly chart highs by using resistance and supply this time of the year. Patience thinks I am newbie
TRY THIS

https://www.forexfactory.com/thread/...3#post13983833
  • #1,214,046
  • Apr 28, 2022 1:53am Apr 28, 2022 1:53am
Quoting PatienceFx
{quote} TRY THIS https://www.forexfactory.com/thread/...3#post13983833
because my long went ballistic lmao
Attached Image (click to enlarge)
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  • #1,214,047
  • Apr 28, 2022 1:57am Apr 28, 2022 1:57am
Quoting PatienceFx
{quote} here you go you can change the timeframe in settigs it will draw a line at 61.8 of last closed candle on the time frame you select so you can decide whether to buy or sell {image} {file}
Try to read something with value, this indicator you've posted is Junk

https://think.ing.com/articles/fx-daily-dollar-boom/
Looking for profitable short term trades ...|
  • #1,214,048
  • Apr 28, 2022 2:02am Apr 28, 2022 2:02am
Sold 2 positions Avg 1.22551

Target 1: 1.02350

Target 2: 0.97555
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Bulls Run. Bears Bite. We Profit.
  • #1,214,049
  • Apr 28, 2022 2:05am Apr 28, 2022 2:05am
Quoting Js3mwtRc
try to make entries on highs and not on breaks, you will thank me later. {image}

I'm still guilty of making this mistake, especially when I'm looking too closely for the next highs/lows I need to recognize the moments to stay out of the market. I currently have a badly placed short at 1.051 from my missing my exit.
Trying my best.
  • #1,214,050
  • Apr 28, 2022 2:08am Apr 28, 2022 2:08am
booked
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  • #1,214,051
  • Apr 28, 2022 2:14am Apr 28, 2022 2:14am
Quoting moondoggie
{quote} I'm still guilty of making this mistake, especially when I'm looking too closely for the next highs/lows I need to recognize the moments to stay out of the market. I currently have a badly placed short at 1.051 from my missing my exit.
It is not easy, because like new trader you have to learn how the price action works. Listen to this, just paper trade the entries you most think they are wrong (you can achieve that by reading older and more experienced traders) and demo trade entries that look and they very close to swing trading. Very close, because the market will not reach a level you want, or because it will overpass it, before it turn back in your favor again.

When I want to make bad entries then I use fake money, or do something else like, reading micro/macro-economics which is a top priority in this job and making forecasts using bigger timeframes - Monthly/Weekly. These are good habits Bad is to use junk indis like patience does and cheat people.

You will get better by the time don't hurry up.
Looking for profitable short term trades ...|
  • #1,214,052
  • Apr 28, 2022 2:16am Apr 28, 2022 2:16am
Quoting ForexGoose
{quote} that’s what she said
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You have to have an IQ higher than 90 to interact with this user.
  • #1,214,053
  • Apr 28, 2022 2:24am Apr 28, 2022 2:24am
Quoting here2there
{quote} I doubt it will go that low.
New corona era for me. I'm going to put my TE in positive territory. EU will do another minimum and up for now.
POSTMASTER
  • #1,214,054
  • Apr 28, 2022 2:26am Apr 28, 2022 2:26am
Quoting Js3mwtRc
{quote} It a dead-end. You will not make money, only you will give it to your broker, by paying the spreads. Best for me is to sell Daily/Weekly chart highs by using resistance and supply this time of the year. Patience thinks I am newbie
Strong statement. I do agree about daily/weekly and looking for liquidity pools, for detemerning daily bias. But how many times did a profitable come back to you, lets say for example 20-50 pips +, and then u actually close it at breakeven or even worse in a loss. Im firm believer of taking partial profits, why not pay yourself? Second, u completely psychological pressure, and u build confidence by doing that and u can leave the rest to reach ADR or maybe even switch it to swing trade, or taking TP2 and TP3, maybe even TP4. So basically with 1st take profit u go for something like R/R = 1:1.5 . Just my humble opinion.
  • #1,214,055
  • Apr 28, 2022 2:30am Apr 28, 2022 2:30am
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POSTMASTER
  • #1,214,056
  • Apr 28, 2022 2:37am Apr 28, 2022 2:37am
Quoting Js3mwtRc
{quote} It is not easy, because like new trader you have to learn how the price action works. Listen to this, just paper trade the entries you most think they are wrong (you can achieve that by reading older and more experienced traders) and demo trade entries that look and they very close to swing trading. Very close, because the market will not reach a level you want, or because it will overpass it, before it turn back in your favor again. When I want to make bad entries then I use fake money, or do something else like, reading micro/macro-economics...

That's great advice mate! Thanks for the encouragement I guess I just got a little excited with all the crazy movements this week haha. Anyway, relieved to know that EU is still in a major major downward trend. Needless to say, I'm preparing to be in drawdown in the near-term for a little while before things head in my direction. I'll keep an eye out for a good level to add sells too
Trying my best.
  • #1,214,057
  • Apr 28, 2022 2:46am Apr 28, 2022 2:46am
Members that state no drawdown don´t even have an account. Trileros working for the industry. Not allowed to.
POSTMASTER
  • #1,214,058
  • Apr 28, 2022 2:46am Apr 28, 2022 2:46am
Quoting BlueGas
{quote} Strong statement. I do agree about daily/weekly and looking for liquidity pools, for detemerning daily bias. But how many times did a profitable come back to you, lets say for example 20-50 pips +, and then u actually close it at breakeven or even worse in a loss. Im firm believer of taking partial profits, why not pay yourself? Second, u completely psychological pressure, and u build confidence by doing that and u can leave the rest to reach ADR or maybe even switch it to swing trade, or taking TP2 and TP3, maybe even TP4. So basically...
If, you throw a coin on daily basis then the price will sure move 30 pips after 20, but it will move with less probability to 40, 50 and etc. pips, so the most easy way to think how to make money is, that if, you close at break even you will not lose, but what about the half times the price hitting your stop loss -20 in this case and you having to pay the spreads and commissions by getting zero many times, you will end up losing your account.

You only have to look at the bigger picture and risk not more than 2% of your account and sometimes some more if, you get the entries right. You've got to have patence that pays.
Looking for profitable short term trades ...|
  • #1,214,059
  • Apr 28, 2022 2:57am Apr 28, 2022 2:57am
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people leave, but this thread will go on for ever
  • #1,214,060
  • Apr 28, 2022 3:02am Apr 28, 2022 3:02am
Quoting Js3mwtRc
{quote} It is not easy, because like new trader you have to learn how the price action works. Listen to this, just paper trade the entries you most think they are wrong (you can achieve that by reading older and more experienced traders) and demo trade entries that look and they very close to swing trading. Very close, because the market will not reach a level you want, or because it will overpass it, before it turn back in your favor again. When I want to make bad entries then I use fake money, or do something else like, reading micro/macro-economics...
Really great tips to try out!
Quoting moondoggie
{quote} I'm still guilty of making this mistake, especially when I'm looking too closely for the next highs/lows I need to recognize the moments to stay out of the market. I currently have a badly placed short at 1.051 from my missing my exit.
Did you exit when you realized you missed it? Maybe that should be your first focus = reacting. Without that, even "better recognizing the moments", will not help on the long run. P.S, a lot of traders, including me, sold at 1.0510. I personally don't think there is a time to stay out. It all depends on the strategy in question, its adapting capabilities, and the rules(mm etc.) to be followed 100%, 100% of the time. My first thoughts on the matter, pondering on my own learning experience which, I realize, could be of no help at all depending on the readers approach. Ah ! Beautiful diversity! Cheers mate, great to read you, keep at it !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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