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  • #101
  • Dec 10, 2023 12:52am Dec 10, 2023 12:52am
Risk Reward Ratio.
After posting the DAX chart I thought it would be a good time to show why I rejection candles.
Chart 1 shows the way I would enter the trade. Chart two is how I have seen the majority and including myself enter trades using a safe entry.
N.B. I am just using DAX as an example as I had the charts open. I am happy to show the same with FX.
The safe method is getting on the train as it leaves the station. I am in no way saying that you cannot be successful trading this way because I traded like this for years.
The issue I had with trading the safe way was the snail pace that my account was going up.
Why was I risking $100 to make $200 only to get a few losses and go backwards? I did not like the odds.
Many of you have probably looked at what I have posted in this thread and said he'll be getting stopped out a fair bit entering on rejection candles and you would be right however, trading rejection candles can and will give you high RR (usually a minimum of 5R) The best RR I have had was over 17R but it takes time to spot the runners. Anyway before you place a trade this coming week have a look and see if there is a rejection candle before your entry

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Your trade order needs to be in the right place at the right time.
  • #102
  • Dec 10, 2023 3:39am Dec 10, 2023 3:39am
Quoting Islandfx911
{quote} Hi Turnip, I have taken a look at US500 to see if there were any setups. I found one as soon as I opened charts. The example is how I would have traded it with my system. I do not trade the US session as I am usually am asleep for two hours by the time it opens. I have labelled the SL value and MT value similar to pips just for this example to get the MT R value. If I feel like a late night I will look for a live trade on NAS / S&P sometime this week. {image} Here is the DAX system trade. I have not traded DAX for years, back when I was...
Would there be a similar short around 4602 where the line chart topped and then tried to come back to test the break of a hypothetical line drawn horizontally across
4062 (ish) ?
every Saint has a past. Every Sinner has a Future
  • #103
  • Dec 10, 2023 4:44am Dec 10, 2023 4:44am
Quoting turnip15
{quote} Would there be a similar short around 4602 where the line chart topped and then tried to come back to test the break of a hypothetical line drawn horizontally across 4062 (ish) ?
Hi T,
If I have got this right as per chart, the setup is not what I class as a good setup.
Reasons why. If you compare to the first trade at the open there a strong bullish impulse move followed by the pullback to a healthy amount of support.
At the 4604 area there was no real impulse move. I have marked up my preferred trade which was supported by a block of support, and it is also trading with the bullish start to the day.

Attached Image (click to enlarge)
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Your trade order needs to be in the right place at the right time.
  • #104
  • Dec 10, 2023 5:08am Dec 10, 2023 5:08am
Quoting Islandfx911
{quote} Hi T, If I have got this right as per chart, the setup is not what I class as a good setup. Reasons why. If you compare to the first trade at the open there a strong bullish impulse move followed by the pullback to a healthy amount of support. At the 4604 area there was no real impulse move. I have marked up my preferred trade which was supported by a block of support, and it is also trading with the bullish start to the day. {image}
Got it. As you pointed out on your chart - interesting where price returned to
every Saint has a past. Every Sinner has a Future
  • #105
  • Dec 10, 2023 5:25am Dec 10, 2023 5:25am
Hi Rob, your topic, gave me reminder, like world FX , may be terrible and toxic. So I kept the groups FX to a minimum, so many smart heads who want to show off their big dick, so little tangible, real money earned. I may not come here for 50 years. And people will keep complaining and keep looking for the magic indicator instead of developing their mind, but never mind, it's not my problem anymore. I want to thank you and congratulate you on your common sense and consistency.
I tell you, that shared now example for m1 , can be opening haos. You showed support with higher tf. So it's not worth giving it up now. This is very risky . You said it yourself. I will include examples that will show dax from a larger perspective.
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  • #106
  • Dec 10, 2023 5:30am Dec 10, 2023 5:30am
Quoting Islandfx911
{quote} Hi Merka, There is a vast difference in the two candles, the one you have highlighted is a what I call a thrust candle, it is a very bullish candle and it could be followed by another similar candle in a bullish trend. The candle I have marked up has a decent sized wick and that's what I want to see at resistance. What is interesting here is your candle went up to resistance, mine went through it and rejected it followed by two further attempts by the third and fourth candles having a go at it. In this example the market was overall bearish...
Great analysis
Make all mistakes in demo and rain in pips in live account
  • #107
  • Dec 10, 2023 7:21am Dec 10, 2023 7:21am
Quoting LaszloTrader
{quote} It seems on the 1M chart, there was NO possible entry, where You signed it on 5M, because of the news event. Was it a demo acc.? Would You be so kind to post Me Your trade on 1M chart? The same as You posted on 5M. THX!
You cannot post it, because there were NO POSSIBLE entry THAT TIME. On 1M chart is clear. It is a fake trade You posted there on 5M. You want mentoring people, because You need their money as oculus pointed out in his post 62:
"I would suggest to avoid giving much attention to the thread starter... Couple of days ago he made a post where he stated he's "available to teach anyone interested", then deleted the post shortly after. Probably just another fortune-seller, he's just waiting for some people to get interested.

Wonder why FF still allow deletion/editing of posts."
Now You trade 30years, couple of days ago You traded 3months live...

It s NOT the approach the problem, it is the SCAM here. Move to the COMMERCIAL SECTOR, sell Yourself there please.

  • #108
  • Dec 10, 2023 7:57am Dec 10, 2023 7:57am
Quoting LaszloTrader
{quote} You cannot post it, because there were NO POSSIBLE entry THAT TIME. On 1M chart is clear. It is a fake trade You posted there on 5M. You want mentoring people, because You need their money as oculus pointed out in his post 62: "I would suggest to avoid giving much attention to the thread starter... Couple of days ago he made a post where he stated he's "available to teach anyone interested", then deleted the post shortly after. Probably just another fortune-seller, he's just waiting for some people to get interested. Wonder why FF still...
Hi LT,
I am not going to put you on my ignore list for now. I think it is good to show other members what type of person you are. I'm not sure why you are on the attack but it does not bother me in the slightest.
Here is your 1m chart and here is the ticket.
Have a great day and all the best.


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Your trade order needs to be in the right place at the right time.
  • #109
  • Dec 10, 2023 8:40am Dec 10, 2023 8:40am
Quoting HouseOfHaus
I like the fact that the second candle takes out the first candle with a wick both at resistance and I take the same trade almost always too However, it is not just based on the individual candle you posted but both together The idea being that bears hit the resistance line and then early bears were stopped out and stop-hunted before the main move happened I feel this is a sign that larger players may be grabbing stops to get the liquidity they need to short with larger size, hence the wick above resistance and the larger move that follows It is...
"I feel this is a sign that larger players may be grabbing stops to get the liquidity they need to short with larger size"
Your trade order needs to be in the right place at the right time.
  • #110
  • Dec 11, 2023 12:27am Dec 11, 2023 12:27am
BTC Dec 11

- looking for M5 buy entries

H4

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M5
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Target 45750

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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #111
  • Edited 1:43am Dec 11, 2023 1:10am | Edited 1:43am
Hi Traders,
Trying a long. SL is 2 pips
TP +11 (5.5R)

Not sure how it will go as we are in pre-market open

Update SL hit. I liked the odds but a bit trigger happy being Monday

Attached Image (click to enlarge)
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Your trade order needs to be in the right place at the right time.
  • #112
  • Dec 14, 2023 4:12am Dec 14, 2023 4:12am
Hi Rob, Renko variation as discussed earlier, 10 pip bricks (20 pip reversal bricks). I took +10 pips but easily went to +20:
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Everything should be made as simple as possible, but no simpler - Einstein
  • #113
  • Dec 14, 2023 4:19am Dec 14, 2023 4:19am
Same set up with EJ although I didn't trade this - ran to +30. Obviously th H4 charts have changed in appearance in both cases since the entry points:
Attached Image(s) (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #114
  • Dec 14, 2023 4:31am Dec 14, 2023 4:31am
Quoting Davidh061
Hi Rob, Renko variation as discussed earlier, 10 pip bricks (20 pip reversal bricks). I took +10 pips but easily went to +20: {image} {image}
Hi David,
Thanks for posting the Renko Charts and well done on the GU trade.
I believe that Support & Resistance will always be a good launch pad for a trade.
I did not trade GU long as I need rejection wicks to enter. Chart below is what I look for each day.
Line charts are easier to read for me.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: GU 14 12 Line Chart.png Size: 13 KB
Your trade order needs to be in the right place at the right time.
  • #115
  • Dec 14, 2023 4:40am Dec 14, 2023 4:40am
Quoting Islandfx911
{quote} Hi David, Thanks for posting the Renko Charts and well done on the GU trade. I believe that Support & Resistance will always be a good launch pad for a trade. I did not trade GU long as I need rejection wicks to enter. Chart below is what I look for each day. Line charts are easier to read for me. Thanks {image}
Thanks Rob, just to be clear you run the H4 line chart for an overview and use an M5 chart for entry? I agree with your comment regarding visualisation preferences - one size definitely doesn't fit all when it comes to trading charts. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #116
  • Dec 14, 2023 4:48am Dec 14, 2023 4:48am
Quoting Davidh061
{quote} Thanks Rob, just to be clear you run the H4 line chart for an overview and use an M5 chart for entry? I agree with your comment regarding visualisation preferences - one size definitely doesn't fit all when it comes to trading charts. Cheers, Dave
Hi Dave,
I start with 4hr line chart and mark up S&R on the peaks and troughs. Then 30m chart and adjust to 30m peaks and troughs.
Things can change rapidly so you may have to add an additional SR line. The more touches on the line the more significant the SR.
Always remember though "Anything can happen"

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #117
  • Dec 14, 2023 6:59am Dec 14, 2023 6:59am
Another test on demo account; took +10 pips buy DAX40, see how it runs although I suspect market is in limbo until US news shortly:
Attached Image(s) (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #118
  • Dec 14, 2023 8:25am Dec 14, 2023 8:25am
Another DAX test off the same S/R zone. Ignored the second test - too close to the news, opened buy at the third test, good for +20 pips (green line open at 6870) but more resistance at the +20 level, managed to collect +3 pips as it started a big reversal:
Attached Image(s) (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #119
  • Dec 15, 2023 2:57am Dec 15, 2023 2:57am
Hi Traders,
Nice quick 4R trade to end the week.
Have a great weekend.
Regards
Rob
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Your trade order needs to be in the right place at the right time.
  • #120
  • Dec 15, 2023 4:42am Dec 15, 2023 4:42am
I like the line chart very much, I use it myself sometimes
Very beautiful trades
Please continue
Theory of Everything is Liquidity...https://www.youtube.com/@FxArt.Trader
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