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  • #241
  • May 10, 2023 7:34am May 10, 2023 7:34am
Was stopped out by a pip before it reverses, unlucky. I have a question though, for this particular trade that hit my stop loss (breakeven), will you put a new buy limit if it tests that level again or wait for a clear lower low?
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  • #242
  • May 10, 2023 12:58pm May 10, 2023 12:58pm
Quoting chuasai
Was stopped out by a pip before it reverses, unlucky. I have a question though, for this particular trade that hit my stop loss (breakeven), will you put a new buy limit if it tests that level again or wait for a clear lower low? {image}
No immediate buy limit... and only again if there is a clear strong swing low.

GL
Stay the Course
  • #243
  • Edited 2:47pm May 10, 2023 1:22pm | Edited 2:47pm
I was stopped out at BE as well. It's fine its part of the game and keeps you safe in the long run. Unlucky and Lucky happens and it's a wash... in the end what counts is you doing the right thing and follow a set of structure that you can always fall back on otherwise you be all over the place.
Discipline and staying the course is my edge. I have no problem with getting unlucky (as it has happened a lot last couple of weeks and you been the witness of it lol). This week atm sitting at +70 profit and its only Wednesdays, bring it on baby.

Currently waiting to see if a new low swing will form to see where we at with levels and orders... for now the only two playable levels with sell limits are 1048 & 1086.

I have some free time today I want to touch on an important Delima you might be facing I find it necessary since thread is developing with consistent followers.
Stay the Course
  • #244
  • Edited 3:22pm May 10, 2023 2:32pm | Edited 3:22pm
Quoting Jewel1996
{quote} If this current trade get to BE and drops, what is the next line of action: should there now be a sell limit at 0977ish or we wait for a swing low to be formed and then put a buy limit for when it returns. In the meantime we still keep the sell limits at 10486 and 10865. Have you ever had a loosing month with this strategy. I understand that it is inevitable that we have a loosing day/week I suggest that post 232 be added to the essential read. Thank you for your time
If it had dropped with a real break out then yes that would have made that swing low a legit level to go short from, but now we notice is not and one maybe in the making a bit up top at 10000.
Both sell limit are very much intact till two weeks filter takes them out.
232 is in... good suggestion.

Okey and now the main question; as I have been asked several times in different shape and form, so I will answer it once and for all and add it to first post.
"Have you ever had a losing month with this strategy?" or etc in that nature.
... sure, if and when I fuck up... if and when I try to outsmart the market and myself, get too wise for my own good... when I panic and let fear in to act desperate... when I become impatient with even results or mediocre results then fall off the pathway try to get too creative.
but, when I stay even kill, stay the course, sticking to trading plan and style... ya, losing is far and away FOR ME.
The fact is, I know my market philosophy and I trust it because I have sweat it out for many years of trading, and won't change it for the world, not based on ego but rather success... because is based on when and where Money was inserted and deserted, so, I test the market on those spots (peaks and valley, levels) to keep probability on my side with 3R+ hammer on top of it, for the possible lack of mediocre win rate. Keeping losses short, maximizing winners (30pips stops/BE, 3R+)

folks, don't put much weight on any one to throw in bunch of personal stats for you on how successful they are or once were. instead, put weight on actual market sense and philosophy, a base, as to if it makes sense to you or not, is it market Savvy, is it based on some valuable market core or some xyz digital codes... more important of all, is it for you or not, does it fit your personality or not, does it fit your agenda and goals or not, is it at your speed or not.
eg, even if I am a god trader, I would not be able to scalp for shit, bcz is just not me... I won't stare at charts for hours. Or short time trading or too long. Or too volatile crazy wild pair. Or high risky, high variance, and etc
As a trader in my opinion, you got to be flexible adapt to what's successful and implement it, but at the same token it got to fit YOU.
You will never get any number from me based on my results besides what you see in forward trading you witness here. My results have nothing to do with yours period.

This post is for everybody, Thanks for the question, Jewel.

GL
Stay the Course
  • #245
  • Edited 4:00pm May 10, 2023 2:56pm | Edited 4:00pm
Quoting axecap
I closed early, when it looked to me we were heading back to test resistance. I managed a bit better than BE. It may well head back up with CPI news in the next couple of hours , but for me now its sit on my hands time with EURUSD
I would not do that. I follow the plan and stay away from those types of decisions where I can save a few but miss a ride.
I know you made couple of bucks instead of even like me or rest of us. But if it had turned on you right there and ran to the moon, you would have sat there and beat yourself up for interfering. that is a bad feeling to create for yourself just to save a few winning tips vs abandoning your trading plan and discipline.
You want to do the same thing all the time, staying solid so you have something to fall back on otherwise you are all over the place and relying solely on your PA predictions and you name it... that is all fine and dandy but you gotta be that good all the time. If you can do that then you stand correct and keep on. I know I can't.
let is play its course for most times.

Just my take brotha not putting you on the spot just pointing out details that make big differences... if it makes sense to you and others.

GL
Stay the Course
  • #246
  • May 10, 2023 2:59pm May 10, 2023 2:59pm
So why would we not want to place a buy limit at the 1.0946ish area right now?
  • #247
  • May 10, 2023 3:14pm May 10, 2023 3:14pm
Quoting mdz4h5
So why would we not want to place a buy limit at the 1.0946ish area right now?
Because you already took shot at it not long ago and failed, sure it faked us out but its not really shooting up either... need to be patient to let it fully develop a new swing low, it still looks like a bounce... need a full loop round to develop and approach it again to take shot at again.
stay patient.

GL
Stay the Course
  • #248
  • May 10, 2023 4:32pm May 10, 2023 4:32pm
Quoting nadi-fx
{quote} Because you already took shot at it not long ago and failed, sure it faked us out but its not really shooting up either... need to be patient to let it fully develop a new swing low, it still looks like a bounce... need a full loop round to develop and approach it again to take shot at again. stay patient. GL
Really looking forward to how tradable buy and sell limit levels will develop from within the marked area.
Again is there a set number of pips between a buy and sell limit you use as filter?

Thank you very much
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  • #249
  • May 10, 2023 4:43pm May 10, 2023 4:43pm
Quoting Jewel1996
{quote} Really looking forward to how tradable buy and sell limit levels will develop from within the marked area. Again is there a set number of pips between a buy and sell limit you use as filter? Thank you very much {image}
No, just when a valid level is formed is good to go.
I know the concern comes from too jammed up PA... but price can take off from any level.
Stay the Course
  • #250
  • May 10, 2023 9:13pm May 10, 2023 9:13pm
Quoting nadi-fx
{quote} No immediate buy limit... and only again if there is a clear strong swing low. GL
Thanks for the reply. Can I check if it is a valid sell (10031) and buy (9661) as these are mid-range valleys/peaks I feel. Or if it’s not, why is it not a valid level?
  • #251
  • May 10, 2023 9:23pm May 10, 2023 9:23pm
Quoting nadi-fx
{quote} I would not do that. I follow the plan and stay away from those types of decisions where I can save a few but miss a ride. I know you made couple of bucks instead of even like me or rest of us. But if it had turned on you right there and ran to the moon, you would have sat there and beat yourself up for interfering. that is a bad feeling to create for yourself just to save a few winning tips vs abandoning your trading plan and discipline. You want to do the same thing all the time, staying solid so you have something to fall back on otherwise...

All good I respect your discipline and restraint, which no doubt has come from your experience with your strategy. My comment was not intended to cast doubt on it
merely record my nervous decision. I shall regroup and look for the next swing.
Thanks
Its all just one persons opinion
  • #252
  • May 10, 2023 9:26pm May 10, 2023 9:26pm
[quote=chuasai;14422021]{quote} Thanks for the reply. Can I check if it is a valid sell (10031) and buy (9661) as these are mid-range valleys/peaks I feel. Or if it’s not, why is it not a valid level?[/quote

How is that a Peak or Valley? (blue circle) I marked it off your chart
its not, that is nothing but a wick in a continuation... so therefore like we have explained earlier right above be patient for new swing low to form.
wicks are nothing if they are not in a essential location like peaks and valleys. does that mean price will not react to it? no, price reacts to a lot of things for reasons sometimes or something that we don't know anything about, should we trade all of them!!! in that case you can open trade anywhere and everywhere.
you want some kind of probability with you.

Please do read the thread important posts.

GL
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Stay the Course
  • #253
  • May 10, 2023 9:29pm May 10, 2023 9:29pm
Quoting axecap
{quote} All good I respect your discipline and restraint, which no doubt has come from your experience with your strategy. My comment was not intended to cast doubt on it merely record my nervous decision. I shall regroup and look for the next swing. Thanks
You're all-good buddy, just pointing out what I think is necessary to know to increase profitability decrease disasters.

GL
Stay the Course
  • #254
  • May 10, 2023 9:38pm May 10, 2023 9:38pm
For you Southern Cals people we got the Lake show going on atm... hopefully we close'em out tonight.
GO LAKERS
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Stay the Course
  • #255
  • May 10, 2023 9:39pm May 10, 2023 9:39pm
Quoting nadi-fx
Quoting chuasai
{quote} Thanks for the reply. Can I check if it is a valid sell (10031) and buy (9661) as these are mid-range valleys/peaks I feel. Or if it’s not, why is it not a valid level?[/quote How is that a Peak or Valley? (blue circle) I marked it off your chart its not, that is nothing but a wick in a continuation... so therefore like we have explained earlier right above be patient for new swing low to form. wicks are nothing if they are not in a essential location like peaks and valleys. does that mean price will not react to
...
Then may I ask why you consider this as a valid Peak in the circle? It does not break the previous swing high (10866) but you still considered this as a level.
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  • #256
  • May 10, 2023 9:43pm May 10, 2023 9:43pm
Quoting chuasai
{quote}{quote} Then may I ask why you consider this as a valid Peak in the circle? It does not break the previous swing high (10866) but you still considered this as a level. {image}
That is clearly valid... your got a high or Peak (blue circle) then price made a clear V and the square box is a valid trade.
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  • #257
  • May 10, 2023 10:04pm May 10, 2023 10:04pm
Quoting nadi-fx
{quote} That is clearly valid... your got a high or Peak (blue circle) then price made a clear V and the square box is a valid trade. {image}
Why did you consider this as a valid level then, since there was no clear low formed on that candle and u set a buy limit order as shown from your square box. Sorry for asking a lot of questions as I do not get the mid ranges valleys/peaks.

I thought this was a valid sell (2nd image) because of the V shape formed as well similar to this (1st image) which caused my confusion. Hope you can enlighten me thanks
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  • #258
  • Edited May 11, 2023 10:23am May 10, 2023 10:58pm | Edited May 11, 2023 10:23am
Quoting chuasai
{quote} Why did you consider this as a valid level then, since there was no clear low formed on that candle and u set a buy limit order as shown from your square box. Sorry for asking a lot of questions as I do not get the mid ranges valleys/peaks. I thought this was a valid sell (2nd image) because of the V shape formed as well similar to this (1st image) which caused my confusion. Hope you can enlighten me thanks {image} {image}
That is clearly a low after price push off long!!! are you just asking questions to ask questions or to just not putting mind behind it.
the 2nd image I already explained to you... the origin is nothing but a wick in a continuation, there is no V there, otherwise every pullback is a V. there is no level formed there yet.. did we sell from there!! I have not even put a level there yet, let alone selling.
a pullback and resume sets a level.
you need to understand the difference between a wick and a push off or a wick with continuation.

This is very simple my friend. please do the due diligent, with all due respect. if this is your thing read the 1st post and all other important posts a few times and study the chart for hours and hours.

GL... bcz right now you need a lot of it, not to be harsh.
Stay the Course
  • #259
  • May 11, 2023 1:47am May 11, 2023 1:47am
Okey so now we have a new level 10024 is in play I already got a sell limit order. I also decided to take one more shot at 9410 after the drop for now missed my order by couple of pips. Hence the drop push off validates the new swing low level at 10024.

Going to bed.

GL
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  • #260
  • May 11, 2023 3:09am May 11, 2023 3:09am
Quoting nadi-fx
Okey so now we have a new level 10024 is in play I already got a sell limit order. I also decided to take one more shot at 9410 after the drop for now missed my order by couple of pips. Hence the drop push off validates the new swing low level at 10024. Going to bed. GL {image}
typo I think, but cant see what it should be. 1.0915 ish is the next low I have
Its all just one persons opinion
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