..
), but he post the entry times so then you can get a feel by "back testing with the f12 key on first a 4hr chart, and then on the 1hr entries what price action/candles/emotions are going on in the market.. I'd say 8 out of 10 of the trades are triggered by price action on the 4h or 1hr. Whereas in the case of loosing trades 8 out of 10 are triggered by macd signals and/or position relative to MA's etc (all the ones you see posted). Price action/emotion is the key... Hope this helps. It did for me after looking at Phil's trades in February and making notes on the entry candle.... Most of us are learning and to me that learning is when to enter based on emotion is the key.... I can train my four year old to tell me when a line turns green from red, of course getting him to sit down for more than 2 seconds is another story...Hi Tony,
thanks for the advice on the wrap up mp3 ( and the word doc) another really helpful wrap up-thanks Phillip
the more I listen to the wrap ups,the more I find there is to learn!
Could someone help with timeframes-Ive been reviewing my trades for the week and feel I have probably over traded and to be frank "itchy fingers" have led me from the 4hour timeframe onto the hourly which has resulted in me trading everyday- in an effort to get in early
I tend to trade cable and looking at the chart today, on the 4 hour the price did bounce off the 21 and then went up, all during the space of a candle that went down and then bounced up within 4 hours- the move was over in that timespan and I wouldnt and didnt take that TC trade for a number of reasons- not least because it was friday afternoon in the UK!
Looking at the 1 hourly chart for the same period the price came down to the 89 and bounced via an RB signal which would have yielded pips but that 1 hourly chart seemed to lack any smooth rhythm yesterday and today and an RB is not a signal I would have taken on the MACD
The movement of the market is much clearer on the 4 hourly but if One drops down to the 1 hourly the perspective is different and the temptation is there to "curve fit" which is a point that Phillip is making in his wrap up- in terms of trading what is seen rather than a signal or an anticipated signal in the case of dropping down a timeframe specifically to look for entry
I am wondering how you all use the 2 timeframes- do you all use these 2 timeframes? do you stick to the 4 hour as a measure of rhythm and also entry?
Any help would be appreciated
regards
Mark
Best thing is to study the logs that Phil post at the end of the month (I know they are not real time
didnt' i teel u for 2 months euro will never see 1.5
Hi mike_dg,
Yes, you have been...but it did retrace pretty close....you are doing a great job! But, becareful w/saying never.....it could and then your superior analytical assessment would be invalidated. Use probably never and we will think you are looking into a crystal ball
(personally, I think e/u will move up and down and this week will see dollar strength)...odd times ahead...
Overall, kudo's to you. Hope you made all those downward pips w/your shorts over the last few months!
Pips
these logs are un real, you see say 15 trades per month, 2 or 1 of them are losses, this win/loss ratio is unreal, any trader knows that a 1:1 win/loss ratio is great and will make you money provided you cut your losses short and let you profit run,but a 15:2 ratio !!!
they holy grail is about cutting losses short and let profit run with a win/lose ration of 1:1 or even 2:3
I see once again you have succeeded in getting attention, If that is all you want please seek it somewhere else. I posted earlier that your posts should be completely ignored, but it is not easy to see Phillip and other good memeber of this Forum wasting their time replying to your posts. see i just wasted 5 minutes doing this, but i hope this gets the message across.
these logs are un real, you see say 15 trades per month, 2 or 1 of them are losses, this win/loss ratio is unreal, any trader knows that a 1:1 win/loss ratio is great and will make you money provided you cut your losses short and let you profit run,but a 15:2 ratio !!!
they holy grail is about cutting losses short and let profit run with a win/lose ration of 1:1 or even 2:3
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