I didn’t enter on this one, but I know I could have if I would seen it. What would the reasons for Vidvad or Rocky be to not enter this one?
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Disliked{quote} I'm not sure from your charts but are you long entries on Red candles?Ignored
DislikedI didn’t enter on this one, but I know I could have if I would seen it. What would the reasons for Vidvad or Rocky be to not enter this one? {image}Ignored
Disliked{quote} Nothing wrong with that being a long entry as the green candle closed above the little swing area. You guys do realize that NOT all trades are winners. The idea is "At the end of 20 trades, do I have a larger account than I started with or a smaller account?" And in all cases, if you are doing this correctly, the answer should be yes. You absolutley can't sweat the result of any one particular trade. It is just one trade of thousands that you will take during the rest of your life. Signals are probability indicators, not prediction indicators....Ignored
Disliked{quote} You have to change that attitude. You know why some trades lose? Because our system indicated that there was a higher probabiility that if we buy here, then enough traders will come in after us willing to pay even higher prices than we did, pushing price up to our profit target. Any trade might have a 65% chance of going to our profit target before going to our stop loss. That means any trade has a 35% chance of going to our stop loss before going to our profit target. This is a probability game, not a prediction game. We are not predicting...Ignored
DislikedTraded for 45 minutes, although PA was really nice before I started trading, I couldn't take advantage of that today: I opened 2 buy trades in both situations the 8EMA high was above the 34EMA and I bought on the open after a red candle and then a green candle: {image} The first one immediately went down which resulted in a loss -20 ticks, the other one had 2 green bars up after a moment, so I could make the loss -13 ticks, because I moved the stoploss. I am not sure yet why the trades are lost. I am going to take another look into it. However I...Ignored
Disliked{quote} Ok I get that candle turned from green to red after entry, but you ,had to previous candles which didn't break up. 2nd trade was also a long but entry candle never broke above ema tunnel.Ignored
Disliked{quote} I’m not quite sure whether I am completing understand you, so let me know when I have something wrong. What do you exactly mean with the previous candles that didn’t break up? That the previous candle needs to close above the 8EMA high? On the second trade; I opened the trade when the current price was above the 8EMA high on the entry candle, you can see the blue arrow, which is above the 8EMA high. Again let me know if I understand something wrong, because I am learning so much from your feedback!Ignored
DislikedYes I am aware that not all entries can be winners, but just to prevent that I am not entering on wrong decisions. As long as I follow the rules and loose, I don’t mindIgnored
Disliked{quote} Okay thanks for the feedback! I saw rocky sending this morning to keep a "shit don't make that mistake again list" and interpreted that as asking myself why a trade went wrong.Ignored
Disliked{quote} I had to run a few errands so I couldn't respond to the chart you psted fully. So looking at that area that you asked about on MY chart, I would have disregarded the smal swing indicator, I would have entered sooner, because the resistance area I'd have been focused upon would have been last night's high and last week's high. The heavy pink line is last week's high, and just to the left you will see last night's premarket high. {image} Here is my chart zoomed out so you can see all the levels I watch. Each of these is far more important...Ignored
Disliked{quote} Thanks Vidvad for your explanation, normally I also always mark previous day highs and lows and weekly highs and lows and daily open of current day, however, as I am practicing just the entries, I don't want to get extracted by these levels. Knowing that I would do to much thinking which would make me not to enter a certain trade. When I get better, I will definitely draw these lines.Ignored
Dislikednew here.. n im kinda lost.. the thread was about psar and now i see renko.. can someone please help me find the beginning of renko here? much appreciated @rockypointIgnored
Disliked{quote} You can always ask yourself and indeed you should review all of your trades at the end of the day, and at the end of the week go back and review all of the signals, both the ones you took and the ones you missed. Mistake will be made, especially when you are new to the method. When I started with the method I was around a 55% profitable/45% losses. As I gained experience, I improved: 60%/40% then 65%/35%. Now I have a lot of days with mostly winning trades. I mentioned I was doing a Tradovate demo the other day. I was practicing, learning...Ignored