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Attachments: GBP/USD M5 Trading
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GBP/USD M5 Trading

  • #381
  • Jul 12, 2022 10:10am Jul 12, 2022 10:10am
Quoting stevepatt
{quote} GBP/USD M1 Short Trade Result BE I exited this Trade because it was Stalling and Failing to make New Lows It's better to play it safe I can always re-enter {image}
GBP/USD M1 Observations

Net Result for the day so far +40 Pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 12th July 22 M1 Observations GBP_USD_20220712_15.37.png Size: 45 KB
Click to Enlarge Name: 12th July 22 M1 Observations 2 GBP_USD_20220712_15.46.png Size: 42 KB
Click to Enlarge Name: 12th July 22 M1 Observations 3 GBP_USD_20220712_16.06.png Size: 44 KB
  • #382
  • Jul 12, 2022 10:19am Jul 12, 2022 10:19am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220712-230937.png Size: 32 KB
if u able to 'read' the PA in red box, it will be easy for u to trade with high win rate...
  • #383
  • Jul 12, 2022 10:30am Jul 12, 2022 10:30am
Quoting senjamerah
{image}if u able to 'read' the PA in red box, it will be easy for u to trade with high win rate...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220712-232217.png Size: 31 KB
In scalping gold, 1 of the big challenge is to make fast decision (less than 2 mins) and execute order quickly. need a lot of practice. it is not easy at the beginning...
  • #384
  • Jul 12, 2022 10:39am Jul 12, 2022 10:39am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220712-233302.png Size: 31 KB
hopefully some of u could learn something....i'm not a good mentor..
  • #385
  • Jul 12, 2022 10:55am Jul 12, 2022 10:55am
Quoting senjamerah
{image}if u able to 'read' the PA in red box, it will be easy for u to trade with high win rate...

Hi Senjamerah,

I think you are a very good Mentor.

A lot of Traders don't want to work at Trading and just want to be told where to Enter and Exit without doing any work

The only people that really make it are the ones that actually have an interest in learning to Trade and they make money as a by product of what they have learned

If a New Traders only focus is making money they will more than likely Fail

The thing in that Box that draws my attention is the Wicks showing Bullish Rejection
Attached Image (click to enlarge)
Click to Enlarge Name: 12th July 22 M5 Observations Spot Gold (£1 Contract)_20220712_16.33.png Size: 31 KB
  • #386
  • Jul 12, 2022 11:11am Jul 12, 2022 11:11am
Quoting stevepatt
{quote} Hi Senjamerah, I think you are a very good Mentor. A lot of Traders don't want to work at Trading and just want to be told where to Enter and Exit without doing any work The only people that really make it are the ones that actually have an interest in learning to Trade and they make money as a by product of what they have learned If a New Traders only focus is making money they will more than likely Fail The thing in that Box that draws my attention is the Wicks showing Bullish Rejection {image}
u almost there...
  • #387
  • Jul 12, 2022 11:17am Jul 12, 2022 11:17am
Quoting senjamerah
{quote} {image}In scalping gold, 1 of the big challenge is to make fast decision (less than 2 mins) and execute order quickly. need a lot of practice. it is not easy at the beginning...
Where was your entry?
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #388
  • Jul 12, 2022 11:18am Jul 12, 2022 11:18am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220713-000807.png Size: 33 KB
sometimes there is no pullback, but the structure and PA itself will shows the path right away...this happen few hours ago on GU m5...the last candle in the box form a strong bull without upper wicks(consider a strong momentum).
  • #389
  • Jul 12, 2022 11:24am Jul 12, 2022 11:24am
Quoting heispark
{quote} Where was your entry?
above the red box
  • #390
  • Jul 12, 2022 11:34am Jul 12, 2022 11:34am
Quoting senjamerah
{quote} above the red box
Didn't long wicks on the left bother you?
In hindsight, I think waiting for pullback inside the box would be better.... You even didn't have a strong breakout candle outside of the box.... Yes, I know hindsight is 20-20 vision....
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-07-13_01-31-02.png Size: 68 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #391
  • Jul 12, 2022 11:48am Jul 12, 2022 11:48am
Quoting heispark
{quote} Didn't long wicks on the left bother you? In hindsight, I think waiting for pullback inside the box would be better.... You even didn't have a strong breakout candle outside of the box.... Yes, I know hindsight is 20-20 vision.... {image}
Hi Heispark,

Those Bearish Wicks have cleared the Path for the Bulls on the way up

It's all about the most recent PA and what that is indicating

Personally, I'm a sucker for a PullBack

But there are times when there is no Pullback

I guess it comes down to experience
  • #392
  • Jul 12, 2022 12:07pm Jul 12, 2022 12:07pm
Quoting stevepatt
{quote} GBP/USD M1 Observations Net Result for the day so far +40 Pips {image} {image} {image}

GBP/USD M1 Observations

Since Price returned to a Bullish Bias there have been two more trade opportunities

Price is has now started to drop be interesting to see where it Holds....
Attached Image (click to enlarge)
Click to Enlarge Name: 12th July 22 M1 Observations 4 GBP_USD_20220712_17.59.png Size: 41 KB
  • #393
  • Jul 12, 2022 12:08pm Jul 12, 2022 12:08pm
Quoting heispark
{quote} Didn't long wicks on the left bother you? In hindsight, I think waiting for pullback inside the box would be better.... You even didn't have a strong breakout candle outside of the box.... Yes, I know hindsight is 20-20 vision.... {image}
hi Heispark,
the box consist 8-9 candles...the way it looks/forming; does it means anything to u? did u able to feel/interprate it?
if u really interested in this method, here is my humble suggestion : open the m5 chart and just trade(demo acc) when u see/predict any bull or bear momentum, do it again and again without any tool/indis....
  • #394
  • Jul 12, 2022 12:23pm Jul 12, 2022 12:23pm
Quoting stevepatt
{quote} GBP/USD M1 Observations Since Price returned to a Bullish Bias there have been two more trade opportunities Price is has now started to drop be interesting to see where it Holds.... {image}

GBP/USD M1 Long Trade

I get a feeling I'm a glutton for punishment

If I had the luxury of Trading through the day I wouldn't even have to be looking at charts right now.....
Attached Image (click to enlarge)
Click to Enlarge Name: 12th July 22 M1 Long Trade GBP_USD_20220712_18.11.png Size: 42 KB
  • #395
  • Jul 12, 2022 12:48pm Jul 12, 2022 12:48pm
Quoting stevepatt
{quote} GBP/USD M1 Long Trade I get a feeling I'm a glutton for punishment If I had the luxury of Trading through the day I wouldn't even have to be looking at charts right now..... {image}

GBP/USD M1 Long Trade Update

Moved Stop to BE
Attached Image (click to enlarge)
Click to Enlarge Name: 12th July 22 M1 Update GBP_USD_20220712_18.43.png Size: 49 KB
  • #396
  • Jul 12, 2022 12:51pm Jul 12, 2022 12:51pm
Quoting stevepatt
{quote} GBP/USD M1 Long Trade Update Moved Stop to BE {image}

Stopped at BE
  • #397
  • Jul 12, 2022 12:59pm Jul 12, 2022 12:59pm
Quoting stevepatt
{quote} Hi Heispark, Those Bearish Wicks have cleared the Path for the Bulls on the way up It's all about the most recent PA and what that is indicating Personally, I'm a sucker for a PullBack But there are times when there is no Pullback I guess it comes down to experience
He said his entry was above the red box. If he meant just right above the box, those bearish wicks weren't cleared yet. I don't know exactly where he entered. Yes, it was a successful trade in hindsight.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #398
  • Jul 12, 2022 1:13pm Jul 12, 2022 1:13pm
Quoting stevepatt
{quote} GBP/USD M1 Long Trade I get a feeling I'm a glutton for punishment If I had the luxury of Trading through the day I wouldn't even have to be looking at charts right now..... {image}
How long have you tested this 1M strategy? You've been around in FF for more than 10 years I guess and I think it wasn't the first time you tested 1M. You must have reasons why you had chosen 5M so far. Market conditions change always, and tomorrow may not as good as today. Perhaps, that's the biggest hitch many people stumble over and finally give up trading......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #399
  • Jul 12, 2022 1:49pm Jul 12, 2022 1:49pm
Quoting heispark
{quote} How long have you tested this 1M strategy? You've been around in FF for more than 10 years I guess and I think it wasn't the first time you tested 1M. You must have reasons why you had chosen 5M so far. Market conditions change always, and tomorrow may not as good as today. Perhaps, that's the biggest hitch many people stumble over and finally give up trading......
Hi Heismark,

I've gone back a few months and like I have said it looks promising

I have also gone back to random dates and run through a week or so and things still look good

I'm going to carry on Testing going forward

I've looked at the M1 in the past and have never quite got in tune with it that is why I have prefered the M5

Using this Method I feel far more in tune with Price

The EMAs indicate which way Price is moving across 4 TFs when all four are moving together it makes for good Trading on M1

Using the EMAs along with Structure Levels (M1) adds Confluence

Take a look at this Post 381 it gives an idea of what I am looking for

When Price starts Trending strongly it can be difficult to find a good Entry Point because Price is moving so fast

Trading this way does make it a lot easier to find multiple Entry Points in a fast moving Trend

I only Target +10 Pips because Price will often PullBack after 10 to 20 Pip moves I want to be out before this happens

When price does PullBack I look to Re-Enter

I use a +20 Pip SL to give me room to get out at BE if Price starts to go against me
  • #400
  • Jul 12, 2022 6:33pm Jul 12, 2022 6:33pm
Quoting stevepatt
{quote} Hi Heismark, I've gone back a few months and like I have said it looks promising I have also gone back to random dates and run through a week or so and things still look good I'm going to carry on Testing going forward I've looked at the M1 in the past and have never quite got in tune with it that is why I have prefered the M5 Using this Method I feel far more in tune with Price The EMAs indicate which way Price is moving across 4 TFs when all four are moving together it makes for good Trading on M1 Using the EMAs along with Structure Levels...
Hi, Steve
You remind me of RJ (Realjumper) who started Genesis system. He started from M5 and moved to M1 when forex volatility collapsed long ago (forex volatility changes time to time). He flattered how 1M trade is so much good then. Then later he came back as M15 trader. He is a loser (of both trading and life) and consistent losing trader. I am afraid to say your approach won't work. Visual backtesting has a limitation. Market is far more complicated than you may think. Anyway, that's my personal opinion and good luck to your journey. I am done with this thread. Bye.
Simplicity is the ultimate sophistication - Leonardo da Vinci
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