amazing stuff !!
5min CT trade on eur/usd
and then again on the 15min..
Folks,
...
NZDJPY - 1H time frame but exact same rules as the 5M stuff.
Trade was with long term trend and pin (see attached chart)
Trade went the right way and reversed - formed a tradable CT trade with divergence!!! - I left it alone as I find my meddling with trades rarely works in my favor!! and its not in the plan... (yet anyway)
So what would you folks do in this situation? close the trade for somewhere around BE? or do what I did and let it go.....
a little assignment perhaps, Sir.yep, you r right, i forgot to put on the round number on the chart...
i got out at the blue line on my chart, gave me almost 1:1R .. it was a CT trade so i didn't expect such a big run.. anyway that is the game and i did my job for today
): the 50-level acted as resistance.
Folks,
Wanted to post this one up as I think loosers are more important a lot of the time than winners...
NZDJPY - 1H time frame but exact same rules as the 5M stuff.
Trade was with long term trend and pin (see attached chart)
Trade went the right way and reversed - formed a tradable CT trade with divergence!!! - I left it alone as I find my meddling with trades rarely works in my favour!! and its not in the plan... (yet anyway)
So what would you folks do in this situation? close the trade for somewhere around BE? or do what I did and...
provided we don't let them stick to our mind
...
Heres the full graph........
seeing as I trade on and off at work I really need a set it and forget it trading strategy (Hence I use trailing stops at 1R - moves SL to BE at 1R and gets the occasional 4R+ runners) - questionably not ideal but full time trading is still years away for me at the moment so I have to find something that works for me..
since u have a job, u are excused for this minor mistake. lol
well, do u prefer trading this shorter TFs from H4 & up (j16 way)? does it suit your lifestyle? it seems H4 & up suit u more since u have a job.
anyway, it seems a close call, but now that looks like a triple top.
Thanks for the chart, Keep posting!
not just a CT run. imho, it was in fact a BB headfake to the downside. in this case, discount sellers came in on top & drove the price down (along with possibly hitting stops & sell stops on the way down).
if u will look closely at the RSI, u will have a clue of what price may do.
i'm trying to squint & eyeball the exact area on both yours & Josh's charts, & i noticed this:
do u see the single up bar (green candle on your chart) below the blue line & at the mid-BB (just about where u probably exited)?
correct me if im wrong, but the RSI,...
Hey Jankone,
Congrats, it's really a great thread
By the way, 2 questions for you if I may...
It's simple. if you are only 50% and if you trade with good moneymanagement, you just make money.
1) do you draw your div lines on the chart between the close points of the bars (line chart), or from the low|high of the bars?
2) what is your CT trades average win rate and R:R?
3) What is your exit strategy you are using for CT trades? Have you tested different strategies and got to a certain conclusion?
I have spent about 5-6...
1)rsi on close
2)hard to say. it's changeable.i look for trades with potential to make1,5x or more. You need EDGE. I prefer 2x
3)for ct trades it's usually ema21 for pt(a few pips under or over ) or just fix tp ( let's say 10 sl, 20 tp.
It's like football, I cant answer too, if you ask "how you score goals?"
There are different ways and you need to train "your " way.
Sometimes you just know, when to close. ( usually I close when it's 2-4 bars running on +- 0..)..or you can use S/R..round numbers...there are many ways...pivots...
thanks supreme. i don't see any change, not sure what you meant.
