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MTF Engulf / Engulf fail

  • #2,321
  • Mar 10, 2024 10:18am Mar 10, 2024 10:18am
Quoting Inthebox
{quote} i do not use r:r. nothing is fixed for me. i look at TP range as 1%. then the SL can be lesser than 1% and dictated by the SL range that I choose for the entry time frame.
So basically sometimes your SL can be more than 1% and sometimes less?
profiting on actionable patterns
  • #2,322
  • Edited 10:43am Mar 10, 2024 10:28am | Edited 10:43am
Quoting poap
{quote} So basically sometimes your SL can be more than 1% and sometimes less?
no always less.
if it is more, you can always go a time frame lower.
can be 0.18%, 0.27%, 0,.53%, etc ....
i have no control. the entry time frame SL range dictates.
i control the 1% TP.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,323
  • Mar 10, 2024 10:42am Mar 10, 2024 10:42am
Quoting Inthebox
{quote} no always less. if it is more, you can always go a time frame lower. can be 0.18%, 0.27%, 0,.53%, etc .... i have no control. the entry time frame SL range dictates.
If I go from 30m to 15m or 5m it also mean that I'll probably need to change my TP to be 15m/5m engulf to be realistic, and most of the times we will see 15m engulf before we will see 30m engulf(put aside major events where it can create great range)
I think I'm kinda missing some point with that drill down to raze the SL
profiting on actionable patterns
  • #2,324
  • Edited 12:45pm Mar 10, 2024 12:02pm | Edited 12:45pm
Quoting poap
{quote} If I go from 30m to 15m or 5m it also mean that I'll probably need to change my TP to be 15m/5m engulf to be realistic, and most of the times we will see 15m engulf before we will see 30m engulf(put aside major events where it can create great range) I think I'm kinda missing some point with that drill down to raze the SL
what is the amount of pips of your TP does not matter.
whether you use h1 m30 m15 or m5 does not matter, whether it is 30 pips 23pips 12 pips does not matter.
what matters is that they all do not change the fact that your TP will always be 1%.
you have to understand this part.
time frames that you use or TP pips distance do not matter. what matters is my focus on TP is 1%.

why traders have the notion that getting 50 pips 30 pips TP is better than getting 12 pips TP?
that is seeing things from only one perspective.
i do not see that way. both give me 1% TP. that is my daily target to achieve.
30 pips can give me 1%, 23 pips can give me 1%, 12 pips can also give me 1%.
you just adjust your position lot size after knowing the TP distance to get 1%. work around the norm, think differently.

that is how i train consistency of daily 1% TP with 80% win rate.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,325
  • Edited 4:06pm Mar 10, 2024 1:14pm | Edited 4:06pm
Quoting Inthebox
{quote}... 30 pips can give me 1%, 23 pips can give me 1%, 12 pips can also give me 1%. you just adjust your position lot size after knowing the TP distance to get 1%. ....
I understand the importance of adjusting position size to achieve consistent returns rather than fixating solely on the number of pips. However, a challenge arises when a setup presents itself with a predetermined take-profit (TP) target of 1%, but the stop-loss (SL) required to manage risk falls at 1% or even 1.5%. In such scenarios, the risk-reward ratio becomes a crucial factor in decision-making. Should I proceed with the setup despite the wider SL, or should I continue searching for opportunities with more favorable risk-reward ratios?
profiting on actionable patterns
  • #2,326
  • Mar 10, 2024 7:03pm Mar 10, 2024 7:03pm
this one need PA confirmation on EJ 4h/30m and also time is off, will look at this area tomorrow morning

also setting up my new platform, hope it will treat me well
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profiting on actionable patterns
  • #2,327
  • Mar 10, 2024 7:27pm Mar 10, 2024 7:27pm
Quoting poap
this one need PA confirmation on EJ 4h/30m and also time is off, will look at this area tomorrow morning also setting up my new platform, hope it will treat me well {image}
is this mt4?
Success = Practice + Patience + Persistence
  • #2,328
  • Mar 10, 2024 9:17pm Mar 10, 2024 9:17pm
Quoting poap
{quote} I understand the importance of adjusting position size to achieve consistent returns rather than fixating solely on the number of pips. However, a challenge arises when a setup presents itself with a predetermined take-profit (TP) target of 1%, but the stop-loss (SL) required to manage risk falls at 1% or even 1.5%. In such scenarios, the risk-reward ratio becomes a crucial factor in decision-making. Should I proceed with the setup despite the wider SL, or should I continue searching for opportunities with more favorable risk-reward ratios?...
i think we have enough of words.
a picture paints a thousand words.
i continue with your ej analysis that the trend is down.

m15 did not qualify but m5 did.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,329
  • Mar 10, 2024 9:34pm Mar 10, 2024 9:34pm
Quoting Inthebox
m1 scalping fun. not trading. update. all buy protected. {image} {image} {image}
uj result.
2nd partial TP reached and the rests BE hit.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,330
  • Mar 10, 2024 9:52pm Mar 10, 2024 9:52pm
Just a reminder that from today, the NY session will be one hour earlier.
Success = Practice + Patience + Persistence
  • #2,331
  • Edited 10:03pm Mar 10, 2024 9:52pm | Edited 10:03pm
anything is possible.
my asia session uj 9 pips 1% TP scalp.

when you have arrived at a stage where you had done thousands of entries with 80% hit rate success.
you do not required 30 pips for your daily target.
that is the confidence you have to achieve.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,332
  • Mar 10, 2024 10:22pm Mar 10, 2024 10:22pm
use logic.
although d1 potential bullish eg, (but candle not closed), now is not the time to buy.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,333
  • Edited 2:35am Mar 11, 2024 2:12am | Edited 2:35am
Quoting fxpider
{quote} is this mt4?
that's cTrader with some sync indicators, switch symbol and rectangle tool on 2 screens
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profiting on actionable patterns
  • #2,334
  • Mar 11, 2024 2:30am Mar 11, 2024 2:30am
Quoting Inthebox
use logic. although d1 potential bullish eg, (but candle not closed), now is not the time to buy. {image}
protect trades if not TP.
the longer you stay in the market the riskier it becomes.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,335
  • Mar 11, 2024 2:40am Mar 11, 2024 2:40am
Quoting Inthebox
anything is possible. my asia session uj 9 pips 1% TP scalp. when you have arrived at a stage where you had done thousands of entries with 80% hit rate success. you do not required 30 pips for your daily target. that is the confidence you have to achieve. {image}
nice trade,
weren't you concerned with the 4h engulf you sold into in asia session?
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profiting on actionable patterns
  • #2,336
  • Mar 11, 2024 3:11am Mar 11, 2024 3:11am
Quoting poap
{quote} nice trade, weren't you concerned with the 4h engulf you sold into in asia session? {image}
no.
there was also a possibility that price going up to top of h4.
focus on m1 current market price.
all blue candles. no indication of reversing before my target.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,337
  • Mar 11, 2024 3:38am Mar 11, 2024 3:38am
see what is happening now.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,338
  • Mar 11, 2024 4:04am Mar 11, 2024 4:04am
Holly crap! I just noticed that the h4 rollover time also changed and my session indicator is all over the place.
Success = Practice + Patience + Persistence
  • #2,339
  • Mar 11, 2024 4:05am Mar 11, 2024 4:05am
NAS100 4h/5m alignment

I saw engulf on the 5m right after I entered the trade, but still in 4h BUEG so I really don't know if I should reduce TP to there or still go for my initial plan of this trade
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profiting on actionable patterns
  • #2,340
  • Mar 11, 2024 4:12am Mar 11, 2024 4:12am
Quoting poap
NAS100 4h/5m alignment I saw engulf on the 5m right after I entered the trade, but still in 4h BUEG so I really don't know if I should reduce TP to there or still go for my initial plan of this trade {image} {image}
either exit with profit or put to BE.
both decisions have no risk.
ITB - Seeing Orderliness amongst 'Randomness'
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