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MTF Engulf / Engulf fail

  • #3,421
  • Jun 23, 2024 5:24pm Jun 23, 2024 5:24pm
Quoting poap
{quote} even when you trade d1/4h charts and going broad market(15 pairs+) can feel like trading 5m charts as you need to flicker between those I questioning myself alot regarding any strategy I used 1. Should I use 5-6 pairs max using 1% risk and obviously have less trades 2. Go broad 15+ pairs using 0.3% risk to allow more pairs and to find setup quicker
we are always over confident that our trades will win.
good traders should play defensive not to lose too much.
can you handle when all your pairs going against you?
my advice is to cultivate focus and patience maximum of 3 pairs with total maximum of 2% risks to ensure that you last longer without blowing your account.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,422
  • Jun 23, 2024 7:42pm Jun 23, 2024 7:42pm
Quoting Inthebox
{quote} we are always over confident that our trades will win. .......
This overconfidence always bites me back hard, whenever I am in a winning streak.
Success = Practice + Patience + Persistence
  • #3,423
  • Jun 23, 2024 7:48pm Jun 23, 2024 7:48pm
Quoting fxpider
{quote} This overconfidence always bites me back hard, whenever I am in a winning streak.
in a winning streak, you can afford to have lots of BEs.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,424
  • Jun 23, 2024 9:23pm Jun 23, 2024 9:23pm
Quoting Inthebox
gold yesterday was a drop from d1 eg to eg, also a qml. a 520 pips range drop. either you laugh or cry your way to the bank. next probably gravitating to 17 18 june low. however after such a big drop, will expect retracement coming early week. {image} {image}
Quoting Inthebox
how confident are you to enter a buy just by solely looking at m5? it was a snrc support and resistant continuation model. or resistant turned support flip from the chart. will you be more confident if there was a m15 engulfing? what about with the h1 engulfing? so do not ever miss out checking the higher time frames. {image} {image} {image}
gold asia open buy.
blue zone direction and entry.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,425
  • Jun 23, 2024 11:11pm Jun 23, 2024 11:11pm
Quoting Inthebox
{quote} {quote} gold asia open buy. blue zone direction and entry. {image} {image}
Took a very similar trade. m30 created EF followed by EG buy entry.
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  • #3,426
  • Jun 24, 2024 12:54am Jun 24, 2024 12:54am
Quoting Inthebox
{quote} {quote} gold asia open buy. blue zone direction and entry. {image} {image}
gold continuation long with frankfurt open.
blue zone direction and entry.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,427
  • Jun 24, 2024 6:27am Jun 24, 2024 6:27am
gu london open long.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,428
  • Jun 24, 2024 11:58am Jun 24, 2024 11:58am
Quoting Inthebox
gu london open long. {image}
Amazing! I am looking for some similar setup using weekly and daily tf.
If you have time, would you like to help me finding some?
  • #3,429
  • Jun 24, 2024 5:42pm Jun 24, 2024 5:42pm
Quoting okrim
{quote} Amazing! I am looking for some similar setup using weekly and daily tf. If you have time, would you like to help me finding some?
you have to do the work yourself.
post the pair that you are interested in with mn, w1 and d1 eg ef.
i shall then post mine for your own comparison.
this way you can learn better.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,430
  • Jun 24, 2024 5:44pm Jun 24, 2024 5:44pm
anyone can post charts with eg ef.
directional and entry time frames.
i shall then post mine for your own comparison.
i want better interaction than what is presently.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,431
  • Jun 24, 2024 7:03pm Jun 24, 2024 7:03pm
who has account with Saxo?
their gold spread is around 0.5 to 1 pip, which is fantastic.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,432
  • Jun 24, 2024 8:45pm Jun 24, 2024 8:45pm
Quoting Inthebox
anyone can post charts with eg ef. directional and entry time frames. i shall then post mine for your own comparison. i want better interaction than what is presently.
I will try GU
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #3,433
  • Jun 24, 2024 10:01pm Jun 24, 2024 10:01pm
gu red zone.
may go up to 1.27 region.
time with market open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,434
  • Jun 25, 2024 7:58am Jun 25, 2024 7:58am
Quoting Inthebox
gu red zone. may go up to 1.27 region. time with market open. {image}
gu
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,435
  • Jun 25, 2024 3:16pm Jun 25, 2024 3:16pm
Hello, nice tread. I found it a moment ago and kept my attention due is use Engulfing as a trigge to enter! :-)

One Example on Gold in D1
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Gold in H4
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  • #3,436
  • Jun 25, 2024 5:55pm Jun 25, 2024 5:55pm
gold tested h4 eg sell but cmp in h4 eg buy.
i take it as sell until m30 eg buy get tested.
please post if you want to discuss other pairs.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,437
  • Jun 25, 2024 6:45pm Jun 25, 2024 6:45pm
dropped to touch a w1 support.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,438
  • Jun 25, 2024 7:24pm Jun 25, 2024 7:24pm
the w1 support bounce with eg buy, back to where it dropped.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,439
  • Jun 25, 2024 7:42pm Jun 25, 2024 7:42pm
Quoting Inthebox
who has account with Saxo? their gold spread is around 0.5 to 1 pip, which is fantastic.
Saxo web trading platform is good in spread wise and trade execution.
but i can't have a chart showing my past trades with entry and exit.
also can't have a statement showing line by line of past trades with profit/loss just like mt4 mt5.
can some one enlighten me?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,440
  • Jun 25, 2024 7:50pm Jun 25, 2024 7:50pm
gold.
will the rest of the day be going up???
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ITB - Seeing Orderliness amongst 'Randomness'
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