AndsX,
I thought it might be easier to explain here
Yes I was talking about the Secret Service by clockwork. That is a great thread and it seems very educational. Of course... I don't think I would trade 3-5 times a month though... 4% a month doesn't do it for me, I made 34.5% last night alone.
Alright I'll start by saying that yes it is just as time consuming I'd say, but to keep our risks low, I've found that this is one of the only ways to do this.
This trade that I am showing you here was 26 pips risk total. Which is not bad. Some maybe 25-50 or so, or less, depending on where you enter and how far away a recent low or high was.
So it pays to pay attention to important areas, which in itself is time consuming - they would be the black lines on the chart. You could of course go the secret service way which would be hardly any screen time at all, but I think you would need quiet large stop losses, maybe not, I didn't finish the thread in total but from what I understood it looked that way.
The top purple line is where I entered, and the bottom purple line is where I had my stop loss and the 0.71200 (black line) was my take profit and it got hit nicely.
I've got a 1 Hour chart to show you the bigger picture and then the 30 Min chart to see the inner workings of price action, it hit the black line and got rejected, that to me is information that it is not going back there.
The red arrow is the bar that I entered on.
Now ... I did this over lots of pairs, looked for areas of particular interest and just paid attention.
I used 3% risk per trade regardless, which can if you have a small stop loss give you a better pip value.
Alright, I hope this helps
As of right now, the AU is now sitting on the top of that black line, it could be a good place to look at going short. I'm not though, not with the holidays and stuff. Won't be trading until probably tuesday now.
You can go over the trades I did with the report I posted on the other thread and examine where I entered and exited and if you look closely you will probably see why
Cheers,
VB,
I thought it might be easier to explain here
Yes I was talking about the Secret Service by clockwork. That is a great thread and it seems very educational. Of course... I don't think I would trade 3-5 times a month though... 4% a month doesn't do it for me, I made 34.5% last night alone.
Alright I'll start by saying that yes it is just as time consuming I'd say, but to keep our risks low, I've found that this is one of the only ways to do this.
This trade that I am showing you here was 26 pips risk total. Which is not bad. Some maybe 25-50 or so, or less, depending on where you enter and how far away a recent low or high was.
So it pays to pay attention to important areas, which in itself is time consuming - they would be the black lines on the chart. You could of course go the secret service way which would be hardly any screen time at all, but I think you would need quiet large stop losses, maybe not, I didn't finish the thread in total but from what I understood it looked that way.
The top purple line is where I entered, and the bottom purple line is where I had my stop loss and the 0.71200 (black line) was my take profit and it got hit nicely.
I've got a 1 Hour chart to show you the bigger picture and then the 30 Min chart to see the inner workings of price action, it hit the black line and got rejected, that to me is information that it is not going back there.
The red arrow is the bar that I entered on.
Now ... I did this over lots of pairs, looked for areas of particular interest and just paid attention.
I used 3% risk per trade regardless, which can if you have a small stop loss give you a better pip value.
Alright, I hope this helps
As of right now, the AU is now sitting on the top of that black line, it could be a good place to look at going short. I'm not though, not with the holidays and stuff. Won't be trading until probably tuesday now.
You can go over the trades I did with the report I posted on the other thread and examine where I entered and exited and if you look closely you will probably see why
Cheers,
VB,
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