N2FX - 1/5/15 Minute Pattern Trades

Awesome my friend.

The important thing is precise entry, I try to pin point entries before they form, this one was excellent.

Mark this on a 5 minute chart and make a mental copy in your mind of how this one formed, works many times.

Will be back in a little while, time for a break and dinner.

Post ideas and charts if you guys want, would like to see your overall thoughts of patterns.

shoulder right now?

hey ,

come across your journal today, great stuff

will get through it, in the meantime i'll be watching and learning,,

cheers

Glad to have you.

You will notice many of the same patterns as you read, I am not sure how many setups I actually trade, but I do watch for these 3 strategies.
Reversals, Continuations, and Breakouts.

I prefer reversals at extreme ranges, or at the Session High/Low.
Continuations are what we traded a little while ago, price moves 30-50 pips, and pulls back to a buy zone, we enter and exit before the recent top/bottom is reached.
Breakouts, price moves out of range, and re test the high/low and stays outside of the range, then enter and take your profits.

I usually target 7 pips on every trade, and my stops are about the same.

Some times if were up against a major sup/res off a weekly, I will take a few entries and not stop so quick, knowing the chances of a good bounce is near. This happened yesterday on a weekly low, price stalled above the line, and next thing you know, it was in awesome profits.

I have a daily goal of 20-30 pips after wins and losses, but I prefer not losing at this time. lol.

My win/loss ratio is 90% at most times, and when I lose it does not take away much of what I am winning. If I can win 5-10 trades a day, and only lose 2 trades, profits will always rise.

Cheers to you.

Here are the targets on the move up.

1.3577 Reached, next area 1.3586.

Ultimate would be a move to 1.3610 and 1.3635 areas.

Yes, finally movement.

1.3591 reached, watching the next level at 1.3610 or the stall from here to there on the 5 minute chart.

I took a short after the high stalled and price remained under my 1.3586 line and a 5 minute formation revealed that +7 pips was available.

Did not post this, took trade, set limit and stop and was working on a document at my desk.

Trade entry was my T2 to the T1 target, worked nice and profitable.

These 2 areas I have marked for the move down stall.

1.3570 and 1.3562.

I will watch for patterns, but I am not 100% positive I will take a trade at this time.

I have exceeded my daily goal heavily the past 3 days, and the risk appetite is reduced.

Note: We could be getting a top SHORT setup also, so long or short, there will be a setup......

NY Session Totals: (1 lot trades)
+7, +3, +7, +4 = + 21 pips

Asia Session Totals:
+7 pips (1 lot)
+7 pips (6 lots)
+7 pips (1 lot)

Daily Total pips as per lot: +77 pips

I scan the factory and threads and see so much stuff, it is really confusing to look at so many different charts, setups, strategies.

I just looked at the EU thread, and I can't even figure out what people are trading, I must be really off or something, but it actually confuses me to look at indicators, and such.

I guess the reason I have so few people in this thread is because it takes experience to trade Price action with no indicators.

I have tried a hundred times to add indicators, and they work if your on a larger time frame, or you have just worked with them so long they make sense, but the traders I talk with on the phone and in person do not use them.

I am hoping that someone is getting a grasp on how trading small segments is very profitable, small losses, picking your entry as near as perfect as possible.

Yes, we lose, yes we pick wrong entries, but keeping that risk small never jeopardizes my account, actually a 10/1 ratio is no big deal if they change it this year.

Nice to see your live trades.

I can't believe your sharing all the little secrets to easy trading.

Give me a call tomorrow if your around.

Cheers to you, and great job on the account.

(setup there N2 at 86, you should be in??)

You seen my entry at 85 - short.

I figured on this I would go for 10 pips.

Looks like a good setup, did you get in??

Only a few pips here, not sure of exit targets your using??

I am so use to 7 pips, i am out.

Hey C, I thought I was finished for the night, but you can't resist those setups, I will post chart in a few.

I just enjoy trading when it is so predictable, Asia loves giving me money tooooo.....

I will give you a call here now, give me a few minutes to close up the trading shop.

Here is the 2nd entry SHORT from that 1.3486 level.

More pips, I know it is small when you take only 7 pips at time, but hey, win/loss ratio rocks, and once you figure out how the market plays, like thecableguy, you will pick the entries and pips also.

And when I am waiting for the setups, I love to change the colors of my lines, and candles.
What else can I do, I have no indicators to piddle with.

NY Session Totals: (1 lot trades)
+7, +3, +7, +4 = + 21 pips

Asia Session Totals:
+7 pips (1 lot)
+7 pips (6 lots)
+7 pips (1 lot)
+7 pips (1 lot)
+2 pips (1 lot)
- 2 pips (1 lot)

Daily Total pips as per lot: +84 pips
8 Wins 1 Loss

Low tap at 72 LONG for just a quick 2 pips.

78 short 81 break stop, target for break of 70 area.

1 Lot trade, small risk with stop.

Update: This was a dead move, what I thought was going to be a fast move down below low turned out to be a spread loss -2 pips on that loss.

That is good, shows that we all have losers.

I have updated my daily totals post #658