Sorry for another boring post but this is such an amazing system one can play around with once you do understand/become familiar with the price action of your favourite pair/s. Never a dull moment.
Just another triangle on the EY - this one not according to the rules. But just to show you how the EY will give you 10pips (don't go for anything more - too risky) trading from the 50MA and using the triangle (because of its volatility).
This is a great exercise that one can use for practising your "patience". Wait for the price to touch the lower leg of the triangle before entering. The entry points are indicated on the chart. If the price goes against you/crosses the triangle line - you need to exit immediately (practising your discipline). I do use micro lots to trade - just for the exercise (patience and discipline). I do believe in exercise - just like in golf. If you don't practise the short putts, you won't make them in a competition. If you don't practise your patience and discipline, you won't have them in the high probability setups. That is why I do use high risk trades to practise/do my execrcises.
I've been doing this "entry" exercises since Apr 2007 - previously some with members on Skype.
The two other price tags was my trade from the 50MA for six pips profit - too close to the pivot line.
Just another triangle on the EY - this one not according to the rules. But just to show you how the EY will give you 10pips (don't go for anything more - too risky) trading from the 50MA and using the triangle (because of its volatility).
This is a great exercise that one can use for practising your "patience". Wait for the price to touch the lower leg of the triangle before entering. The entry points are indicated on the chart. If the price goes against you/crosses the triangle line - you need to exit immediately (practising your discipline). I do use micro lots to trade - just for the exercise (patience and discipline). I do believe in exercise - just like in golf. If you don't practise the short putts, you won't make them in a competition. If you don't practise your patience and discipline, you won't have them in the high probability setups. That is why I do use high risk trades to practise/do my execrcises.
I've been doing this "entry" exercises since Apr 2007 - previously some with members on Skype.
The two other price tags was my trade from the 50MA for six pips profit - too close to the pivot line.
Attached Image (click to enlarge)
Willem
Forex recipe for success = Patience, discipline & hard work.
that's great !
