Advice on Level trading conflicts | Forex Factory

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Advice on Level trading conflicts

  • #1
  • First Post: Feb 4, 2024 8:45am Feb 4, 2024 8:45am
hello all ,


i have been trading this level strategy for some time now

but sometims the price goes sideways and it is hitting my tight stoplose


i will share with you a picture for a level that i selected with the price going up and down several times hitting my 3 pips stoplose

why 3 pips ? because high risk to reward ratio

all i do is i set a level and i wait for price to close up/down based on the direction and then a price retracmemnt to the same level

look at the picture


but please , who ever can give me the best solution to avoide these bad entries then please tell me

advise me to reduce the noise

show me your tallent



thanks



https://c.mql5.com/21/530/6487462290359__1.png
  • #2
  • Feb 4, 2024 4:19pm Feb 4, 2024 4:19pm
Don't use stop loss or trade with a wider one. The bid/ask spread should never be a factor in losses.
In your chart, the spread is 5.4 pips. With a 3 pip stoploss order, you should lose 100% of trades.
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  • #3
  • Feb 4, 2024 11:32pm Feb 4, 2024 11:32pm
Quoting traderxp
hello all , i have been trading this level strategy for some time now but sometims the price goes sideways and it is hitting my tight stoplose i will share with you a picture for a level that i selected with the price going up and down several times hitting my 3 pips stoplose why 3 pips ? because high risk to reward ratio all i do is i set a level and i wait for price to close up/down based on the direction and then a price retracmemnt to the same level look at the picture but please , who ever can give me the best solution to avoide these bad entries...
Don't trade before tokyo session because sydney session alone has very wide spreads.

When sydney session alone, my euro is like yours 3 to 5 pips. But once 8 am +8gmt starts because i use pepperstone.com razor, it becomes .1 to .2 or so tics.

3 pip stop loss is ok, just experct to lose a lot before you get that 10 bagger.

If you risk 3 pips, consider, spread x comission into your computation. If 3 pips, then atleast 4 pips tp is ideal for me. Or 6pips or 9 pips to 15 pips tp.

I once tried 1 to 9 rr. I lost 7 x before winning once to tp and calling it a day. It was super scary.
Trading is gambling. So gamble responsibly.
  • #4
  • Feb 5, 2024 2:56am Feb 5, 2024 2:56am
Quoting Ryan420
In your chart, the spread is 5.4 pips.

On the Eur/USD?! Don’t be silly. It must be 5.4 pipettes (0.54 pips).
  • #5
  • Feb 5, 2024 3:31am Feb 5, 2024 3:31am
Quoting traderxp
hello all , i have been trading this level strategy for some time now but sometims the price goes sideways and it is hitting my tight stoplose i will share with you a picture for a level that i selected with the price going up and down several times hitting my 3 pips stoplose why 3 pips ? because high risk to reward ratio all i do is i set a level and i wait for price to close up/down based on the direction and then a price retracmemnt to the same level look at the picture but please , who ever can give me the best solution to avoide these bad entries...
Seems to me like you have no strategy. No view on the market. No idea of where the dumb money is trapped, and where their points of pain might be.

You are just gambling.

May as well head down to the casino. The odds will be more in your favour there, and you get free drinks and a comfortable chair.
  • #6
  • Feb 5, 2024 5:08am Feb 5, 2024 5:08am
Quoting Ryan420
Don't use stop loss or trade with a wider one. The bid/ask spread should never be a factor in losses. In your chart, the spread is 5.4 pips. With a 3 pip stoploss order, you should lose 100% of trades.
yeah i use peperstone razor to make it 1 pip
  • #7
  • Feb 5, 2024 5:09am Feb 5, 2024 5:09am
Quoting Sovy
{quote} Don't trade before tokyo session because sydney session alone has very wide spreads. When sydney session alone, my euro is like yours 3 to 5 pips. But once 8 am +8gmt starts because i use pepperstone.com razor, it becomes .1 to .2 or so tics. 3 pip stop loss is ok, just experct to lose a lot before you get that 10 bagger. If you risk 3 pips, consider, spread x comission into your computation. If 3 pips, then atleast 4 pips tp is ideal for me. Or 6pips or 9 pips to 15 pips tp. I once tried 1 to 9 rr. I lost 7 x before winning once to tp and...

i usually follow the levels which is based on most recent high and lows
  • #8
  • Feb 5, 2024 5:12am Feb 5, 2024 5:12am
Quoting GusParker
{quote} Seems to me like you have no strategy. No view on the market. No idea of where the dumb money is trapped, and where their points of pain might be. You are just gambling. May as well head down to the casino. The odds will be more in your favour there, and you get free drinks and a comfortable chair.
dear , if you did not understand my way then it means you have don't have much idea about the strategies
this level was selected randomly just to find a way in these situations

from my selected levels there are 2 or 3 are like this , and so i seek an answer for it

if u had a similar issue and found an answer for it then please share it or stop judging my trading style based on a single picture
  • #9
  • Feb 5, 2024 5:59am Feb 5, 2024 5:59am
Quoting traderxp
{quote} dear , if you did not understand my way then it means you have don't have much idea about the strategies this level was selected randomly just to find a way in these situations from my selected levels there are 2 or 3 are like this , and so i seek an answer for it if u had a similar issue and found an answer for it then please share it or stop judging my trading style based on a single picture
It's that 3 pip SL bit that gets me.

The best that could be said about your strategy (whatever it might be), is that it is statistics based, but statistical trends are in constant flux, and on the sort of time frames that you would be looking at with your 3 pip SL, you could replace 'constant flux' with totally chaotic.

So if you are wondering why you can't find any success over the duration, hence why you are here looking for an answer to a dumb question for which there is no answer, then that is why. Your market parameters of choice, are basically random chaos.
  • #10
  • Feb 5, 2024 6:29am Feb 5, 2024 6:29am
Quoting traderxp
{quote} i usually follow the levels which is based on most recent high and lows
As long as you trade from tokyo to ny, spreads should be ok.
Trading is gambling. So gamble responsibly.
  • #11
  • Feb 5, 2024 6:57am Feb 5, 2024 6:57am
Quoting KarlKraus
{quote} On the Eur/USD?! Don’t be silly. It must be 5.4 pipettes (0.54 pips).
Oh good. The spread is only 20% of the stop loss. 90% chance to lose every trade.
ForexOrderFlow.com Return This Year: 11.4%
  • #12
  • Feb 5, 2024 8:48am Feb 5, 2024 8:48am
Quoting Ryan420
{quote} Oh good. The spread is only 20% of the stop loss. 90% chance to lose every trade.

please , anyone who can share any idea then share it but please stop talking about the spread
because this picture does not represent my trading account spread

so please if anyone wants to give a good idea then please don't speak about the spread because it is a main factor that can not be ignpred
and start focusing on the issue i adessed
  • #13
  • Feb 5, 2024 8:54am Feb 5, 2024 8:54am
Quoting GusParker
{quote} It's that 3 pip SL bit that gets me. The best that could be said about your strategy (whatever it might be), is that it is statistics based, but statistical trends are in constant flux, and on the sort of time frames that you would be looking at with your 3 pip SL, you could replace 'constant flux' with totally chaotic. So if you are wondering why you can't find any success over the duration, hence why you are here looking for an answer to a dumb question for which there is no answer, then that is why. Your market parameters of choice, are...

dear , i adressed an issue in the first post
if u please have an answer for it then u are most welcome
but if keep saying the same thing then how can we improve what we are seeking ?

i mean i get every single word your wrote , but do i agree ?


am not asking to judge my trading style , right or wrong
am asking how to improve the entry model in the picture , that's all
pelase focus !
  • #14
  • Last Post: Feb 5, 2024 10:12am Feb 5, 2024 10:12am
Quoting traderxp
{quote} please , anyone who can share any idea then share it but please stop talking about the spread because this picture does not represent my trading account spread so please if anyone wants to give a good idea then please don't speak about the spread because it is a main factor that can not be ignpred and start focusing on the issue i adessed
Wait until Trump tweets.. insta 10 pip spread on EurUsd.
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