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Swing Trades using Price Action

  • #121
  • Jul 19, 2022 3:23pm Jul 19, 2022 3:23pm
Quoting Bee-Hop
NZD/USD - Sell{image} NZD/CAD - Sell {image}
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB

Was there any reason to not take this trade?

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB

Was there any reason to not take this trade? Looks to have triggered SL before being rejected.
  • #122
  • Jul 19, 2022 6:19pm Jul 19, 2022 6:19pm
It was valid but lost.
We do take losses.
In the days of old when sailors were bold, and seldom if ever contented.
  • #123
  • Jul 19, 2022 6:20pm Jul 19, 2022 6:20pm
USDJPY buy
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY buy 20.7.22.PNG Size: 69 KB
In the days of old when sailors were bold, and seldom if ever contented.
  • #124
  • Jul 20, 2022 8:02am Jul 20, 2022 8:02am
Quoting pt49
It was valid but lost. We do take losses.
Thank you.
Yes taking a loss is part of the game.

Was making sure it was valid and met the rules. Your feedback is appreciated.

Onto the next...
  • #125
  • Jul 20, 2022 11:18am Jul 20, 2022 11:18am
CADCHF Demo. Entered late, for now in profit. Greetings.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf 20.07.22.jpg Size: 45 KB
  • #126
  • Jul 20, 2022 11:24am Jul 20, 2022 11:24am
GBPCAD Demo. Currently in profit.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad 20.07.22.jpg Size: 40 KB
  • #127
  • Edited 5:59pm Jul 26, 2022 11:32am | Edited 5:59pm
EURCHF Demo hit TP (2:1 RR)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB



GBPNZD Demo Hit SL
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 30 KB


New Trade Idea - GBPJPY Long
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 31 KB
  • #128
  • Jul 27, 2022 12:40am Jul 27, 2022 12:40am
Hey this may be a a bit strange but does anyone know how to configure the Fibonacci in mt4 to look like the one used in this thread.
  • #129
  • Jul 27, 2022 8:08pm Jul 27, 2022 8:08pm
Quoting Entelex
Hey this may be a a bit strange but does anyone know how to configure the Fibonacci in mt4 to look like the one used in this thread.
This is unrealistic because the one displayed in the thread is on a different platform.
  • #130
  • Jul 27, 2022 9:51pm Jul 27, 2022 9:51pm
Quoting Entelex
Hey this may be a a bit strange but does anyone know how to configure the Fibonacci in mt4 to look like the one used in this thread.
delete all fib lines and put in two new “fib” lines. One at 33%, one at 67%.

done
A snails pace wins the race :-)
  • #131
  • Jul 28, 2022 7:22am Jul 28, 2022 7:22am
EURCAD Demo

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #132
  • Jul 28, 2022 7:25am Jul 28, 2022 7:25am
@pt49
How do you manage your trade?
Do you set & forget?

You also said TP & SL are 2:1, 3:1 etc but your USDJPY shows a 3.69%, how?
  • #133
  • Jul 28, 2022 5:58pm Jul 28, 2022 5:58pm
USDCAD

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 32 KB
  • #134
  • Jul 28, 2022 9:49pm Jul 28, 2022 9:49pm
Quoting capsmart
You started the thread in 2009 and you are still using the same simple system. I admire you !!! I have a question for you after seeing your profile. Is this system used to trade the IB Maximizer?
No, I was trading a simple inside bar setup for the IB Maximizer.
I have not traded that live account for a month or so now, as I have been studying the free ICT youtube channel... "ICT Mentorship 2022".

I highly recommend the ICT method... it is hands down the best free OR paid trading methods available ANYWHERE.
It may take 6 months to "get it" but once you see it with backtesting you can't "unsee" it.
In the days of old when sailors were bold, and seldom if ever contented.
  • #135
  • Jul 28, 2022 10:01pm Jul 28, 2022 10:01pm
Quoting Bee-Hop
@pt49 How do you manage your trade? Do you set & forget? You also said TP & SL are 2:1, 3:1 etc but your USDJPY shows a 3.69%, how?
You take your profits where you are happy with based on your backtesting in TradingView using the Replay option.
You should NEVER follow anyone elses trading method without backtesting it yourself.
Backtesting using TradingView Replay trains your brain to instantly recognise your setups.
Trading is all about training your brain in recognition and controlling your emotions through risk management.

You can set SL and and TP and forget, or you can set SL and manage the TP manually (requires sitting and watching the trade... not practical for swing trades)... but ALWAYS set a StopLoss.

The 3.69% was where the price had moved to when I took screenshot.
In the days of old when sailors were bold, and seldom if ever contented.
  • #136
  • Jul 28, 2022 10:25pm Jul 28, 2022 10:25pm
Sorry, I have not been active in the forum lately as I am staying overseas in Bali... checking out "Cost of living" to see if it is feasible to live here instead of in Australia.

IT IS DEFINATELY A REAL COST EFFECTIVE place to live.

Western style meals in hotels and bars are 40-50% the price in Oz... fat juicy Pork Ribs with salad and chips (fry's) $12aud (in Australia would cost $25-$30)

Eating local meals in warungs is far cheaper... $2.00 to $4.00 for filling very tasty stir fry chicken/pork and fresh vegies and rice/noodle meals.

Full strength beers 330ml Bintang bottles cost $ 2.80 to$3.20 at the table... 30% of Aussie prices.

Rental accommodation varies greatly.
$15 to $100 a night... but book for 6 months stay and get at least 50% off.

I can easily live in Legian in Bali for under $200aud a week if I decide to come for a long term stay... insurance will cost extra (and is mandatory, depending on your age and health challenges).
In the days of old when sailors were bold, and seldom if ever contented.
  • #137
  • Jul 29, 2022 12:47am Jul 29, 2022 12:47am
Dear PT

Check the following chart of USDCAD, are my trades qualify for your criteria

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_2022-07-29_10-43-20.png Size: 40 KB
  • #138
  • Jul 29, 2022 4:08am Jul 29, 2022 4:08am
Quoting Entelex
Hey this may be a a bit strange but does anyone know how to configure the Fibonacci in mt4 to look like the one used in this thread.
Although I don't belong here (not enough patience to trade such high TFs: I was just lurking around), I think I can answer that question. Just set up the fibo tool as you see in the picture. Hope that helps.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-07-29_10-06-01.jpg Size: 110 KB
  • #139
  • Aug 1, 2022 1:12am Aug 1, 2022 1:12am
Quoting khuzia
Dear PT Check the following chart of USDCAD, are my trades qualify for your criteria {image}
to me, yes.
A snails pace wins the race :-)
  • #140
  • Aug 1, 2022 8:52am Aug 1, 2022 8:52am
Quoting khuzia
Dear PT Check the following chart of USDCAD, are my trades qualify for your criteria {image}
Yes, looks good.
In the days of old when sailors were bold, and seldom if ever contented.
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