To free Gazans of Hamas, use whatever it takes.
- #131,602
- May 4, 2022 5:15am May 4, 2022 5:15am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,606
- May 4, 2022 6:14am May 4, 2022 6:14am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
bounce {image}
GU May04 H1 London 12pm
- green line bounce 4.2, to me this is not good enough MOMENTUM to take a buy entry
- and the Stoch is flat above 80 level
- the price action created a swing high and is now a potential resistance
> overall this is not a A+++ setup
> it does not meet all the ten(10) things which a rules-based discretionary trader like Big E would consider as a best setup
> market is waiting for FOMC
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,607
- May 4, 2022 6:38am May 4, 2022 6:38am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} GU May04 H1 London 12pm - green line bounce 4.2, to me this is not good enough MOMENTUM to take a buy entry - and the Stoch is flat above 80 level - the price action created a swing high and is now a potential resistance > overall this is not a A+++ setup > it does not meet all the ten(10) things which a rules-based discretionary trader like Big E would consider as a best setup > market is waiting for FOMC
{image}
EU May04 H1 London 12:35PM
- price action bounce ... what is this price pattern?
> compare this EU and the GU above post,
> Stoch %k above %d looks nice and good
> EU is a better PA and has some potential if this current H1 can break above the double stops swing high and close above wit higher high + higher Close.
> risk is the New York open in 25 minutes and FOMC hours later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,608
- May 4, 2022 6:44am May 4, 2022 6:44am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,609
- Edited 7:09am May 4, 2022 6:54am | Edited 7:09am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
{quote} Lots of good advice coming from Emanuel and showing that he indeed is a trader with good success rate. Snake, I think your are forcing it and taking too many trades, in trading a lot of the times is all about waiting for the right set up, it may even take a day or two sometimes, better wait and only take the right set ups. Also, you do not have to be constantly in a trade, sometimes just watch price actions as it reacts to the different points. S/R, Big round number, HH's/LL's and check on other Time frames and TDI how it played out. This,...
To free Gazans of Hamas, use whatever it takes.
- #131,610
- May 4, 2022 7:02am May 4, 2022 7:02am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} EU May04 H1 London 12:35PM - price action bounce ... what is this price pattern? > compare this EU and the GU above post, > Stoch %k above %d looks nice and good > EU is a better PA and has some potential if this current H1 can break above the double stops swing high and close above wit higher high + higher Close. > risk is the New York open in 25 minutes and FOMC hours later. {image} {image}
GJ May04 H1 NYO
- this one good for 20 pips
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,611
- May 4, 2022 7:05am May 4, 2022 7:05am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Lots of good advice coming from Emanuel and showing that he indeed is a trader with good success rate. {image}
and there is also lots of good examples by Fake'Dr'Dave too,
examples you must learn BUT NOT to Follow,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,612
- May 4, 2022 7:07am May 4, 2022 7:07am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} GJ May04 H1 NYO - this one good for 20 pips {image}
TMS Monitor for the 8 pairs Big E traded back in 2011,
TMS Monitor May04 H1 NYOpen
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #131,615
- May 4, 2022 7:20am May 4, 2022 7:20am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
{quote} GU May04 H1 London 12pm - green line bounce 4.2, to me this is not good enough MOMENTUM to take a buy entry - and the Stoch is flat above 80 level - the price action created a swing high and is now a potential resistance > overall this is not a A+++ setup > it does not meet all the ten(10) things which a rules-based discretionary trader like Big E would consider as a best setup > market is waiting for FOMC {image}
Even though he didn't find his magic "10 things" on H1, he is too clueless to think that MAYBE they are found on SMALLER TFs, and **schock** the opposite direction!
To free Gazans of Hamas, use whatever it takes.
- #131,617
- May 4, 2022 7:30am May 4, 2022 7:30am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #131,618
- Edited 7:54am May 4, 2022 7:36am | Edited 7:54am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #131,619
- Edited 10:43am May 4, 2022 9:04am | Edited 10:43am
- | Joined Dec 2020 | Status: Trader | 118 Posts
Last trade for the day.
Some thoughts on this trade, I took this short because I saw a rejection on the left from the last high. And all the other indicator signals positive.
And the usual outcome
And now the daily emotional damage.
There are always things to learn and here are some of my lessons learned regarding this strategy:
-For all the newbies like me, I believe, that this is not and I highlight NOT a simple trading strategy. It's not. It's definitely one of the most difficult and unpredictable strategies that I have ever read and seen. The reason why so many users perhaps like me are drawn to this is because we are foolish enough to believe that a simple strategy like this with clear mechanical entries and exits can work. That's just ridiculous, why? Because if it does work for everyone there is no edge left. (note to future self, don't ever get involved in some thread again that uses the words for topic like simple, easy, for dummies, etc.... trading strategies ...never, ever , get involved again
).
- For whom I believe this can work for is advanced professional traders with already years of consistent profit that have the SKILL and I want to highlight SKILL here again to read price action and not any kind of price action but Heikin Ashi candles. Also on top of that years of experience reading market structure. Pretty much what probably takes to become a consistent profitable trader. In the beginning of this thread the original poster BigE mentions you need to know some of the basic forex stuff, s/r, last HH and LL etc...just basic stuff ....NO those are not basic stuff and you are a fool like me to believe that this system can only work based on the indicator rules based on this system ans some basic forex knowhow. YOU NEED TO KNOW MARKET STRUCTURE VERY WELL.
Also I am a bit sad because there are some nice genuine people here that are always willing to help for sure, but unfortunately you are stuck with people like me who are the only people who post live trades. There would be so much to learn from a couple of recent entry/exit live trades pictures from some of the successful traders that use this system but I think they have left this thread maybe a long time ago .Trading live and looking back in hindsight on a chart looking for entries is not the same thing as trading live.
I decided to keep posting my live charts based on the 4H entry from now on, Big E traded that without looking at the charts using clear SL so I will give that a go and see how it goes.
Some thoughts on this trade, I took this short because I saw a rejection on the left from the last high. And all the other indicator signals positive.
And the usual outcome
And now the daily emotional damage.
There are always things to learn and here are some of my lessons learned regarding this strategy:
-For all the newbies like me, I believe, that this is not and I highlight NOT a simple trading strategy. It's not. It's definitely one of the most difficult and unpredictable strategies that I have ever read and seen. The reason why so many users perhaps like me are drawn to this is because we are foolish enough to believe that a simple strategy like this with clear mechanical entries and exits can work. That's just ridiculous, why? Because if it does work for everyone there is no edge left. (note to future self, don't ever get involved in some thread again that uses the words for topic like simple, easy, for dummies, etc.... trading strategies ...never, ever , get involved again
). - For whom I believe this can work for is advanced professional traders with already years of consistent profit that have the SKILL and I want to highlight SKILL here again to read price action and not any kind of price action but Heikin Ashi candles. Also on top of that years of experience reading market structure. Pretty much what probably takes to become a consistent profitable trader. In the beginning of this thread the original poster BigE mentions you need to know some of the basic forex stuff, s/r, last HH and LL etc...just basic stuff ....NO those are not basic stuff and you are a fool like me to believe that this system can only work based on the indicator rules based on this system ans some basic forex knowhow. YOU NEED TO KNOW MARKET STRUCTURE VERY WELL.
Also I am a bit sad because there are some nice genuine people here that are always willing to help for sure, but unfortunately you are stuck with people like me who are the only people who post live trades. There would be so much to learn from a couple of recent entry/exit live trades pictures from some of the successful traders that use this system but I think they have left this thread maybe a long time ago .Trading live and looking back in hindsight on a chart looking for entries is not the same thing as trading live.
I decided to keep posting my live charts based on the 4H entry from now on, Big E traded that without looking at the charts using clear SL so I will give that a go and see how it goes.
- #131,620
- May 4, 2022 10:24am May 4, 2022 10:24am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.