DislikedLook.... you have to see the intentions of the market to go up/down...Ignored
- #562
- Aug 22, 2010 4:59am Aug 22, 2010 4:59am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
i will get you one hint....
Go here: http://www.forexfactory.com/showthread.php?t=54528
This is the "System I" of the great trader and teacher feb2865.
There is talking about so colled "V"-formation.... Read it closely... At least first 10 pages. I promise - you will get the hang of it!!!!!
If you then will look at my and your charts with white ellipses - you will see (I am sure!) almost the same formations.... and then you will have at least the idead what is happening at the levels.......
And.... No! I do almost not place the pending orders near the levels..... I tend to look at price and not enter the trade just because the price is near the level. I wait to see the market direction.
Like feb2865 used to say - "do not trade the market signals, trade market intentions"
Hope - it helps.
Go here: http://www.forexfactory.com/showthread.php?t=54528
This is the "System I" of the great trader and teacher feb2865.
There is talking about so colled "V"-formation.... Read it closely... At least first 10 pages. I promise - you will get the hang of it!!!!!
If you then will look at my and your charts with white ellipses - you will see (I am sure!) almost the same formations.... and then you will have at least the idead what is happening at the levels.......
And.... No! I do almost not place the pending orders near the levels..... I tend to look at price and not enter the trade just because the price is near the level. I wait to see the market direction.
Like feb2865 used to say - "do not trade the market signals, trade market intentions"
Hope - it helps.
- #563
- Aug 22, 2010 5:01am Aug 22, 2010 5:01am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
Totally agree. These few words say a lot, my friend!
Thank you, brother!
- #565
- Edited 5:32am Aug 22, 2010 5:18am | Edited 5:32am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
- #569
- Aug 23, 2010 12:28am Aug 23, 2010 12:28am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
Arkan!
Look at my chart. There are some blue arrows - they show you the level.
They show at first Turning Points, and - Turning Points create the level.
Do you see them????
Then - the blue boxes (2) show my entery and exit. (BTW - I took that thrade for real.)
In your chart the entery could be a little late... But... it all depends on market coditions.... I do not tell that your entery is late... I tell - it could be a little late, can you get it?
Ok?I think - you really start get te idea!
- #570
- Aug 23, 2010 12:33am Aug 23, 2010 12:33am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
Also will be important that the ratio lost-profit is 1:2 o 1:3 ?
so - remember - your profit should be no less than 1:1... And - you do not have to wait and pray for the market to not get hit your SL. If you feel the trade is not good now - just exit it! No need to wait for the market to hit your SL... This way your RR would be even better
not 1:1, but 1/3:1 etc...
- #571
- Aug 23, 2010 12:34am Aug 23, 2010 12:34am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
In 4 hours this is what I see.
If this candle close bearish, under the line go short, and take profit in posibles targets.
Attachment
- #572
- Aug 23, 2010 1:49am Aug 23, 2010 1:49am
Whenever you trade your RR ratio should be at least - 1:1 (1risk:1reward), better is of course - 1:2 (1risk:2reward), 1:3 (1risk:3reward) is more better!
so - remember - your profit should be no less than 1:1... And - you do not have to wait and pray for the market to not get hit your SL. If you feel the trade is not good now - just exit it! No need to wait for the market to hit your SL... This way your RR would be even better
not 1:1, but 1/3:1 etc...
This week i´m going to start work this method.
Now I see this :
- #575
- Aug 23, 2010 3:13am Aug 23, 2010 3:13am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
Hello Dim, then will be to wait for the levels 2660 - 2732 to see how reacts the price ?
But - you know a lot now... Do not wait for me... take your trades...
Why? - Because for today I did miss two trades already because of the other stuffs at my home....
So - if you see the trade - just shot!
- #577
- Aug 23, 2010 3:26am Aug 23, 2010 3:26am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
ok, i understand you ...
Now i´m long, but i don´t know waht would be the best target ...
Attachment
Of course - the target #2 is more sweet
....But - you know - there are always "but" in the world...So - if you will see that the market will reverse, then you will use the RR as your exit guide... I mean - you know you should try to get at least 1:1 Ok? So - If the market will not reach your target #2 - then (based on the observations on real price) try to get as much as possible... at least 1:1....
- #578
- Aug 23, 2010 3:28am Aug 23, 2010 3:28am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
Of course - the target #2 is more sweet
But - you know - there are always "but" in the world...So - if you will see that the market will reverse, then you will use the RR as your exit guide... I mean - you know you should try to get at least 1:1 Ok? So - If the market will not reach your target #2 - then (based on the observations on real price) try to get as much as possible... at least 1:1....
But....
- #579
- Aug 23, 2010 3:35am Aug 23, 2010 3:35am
- Joined Apr 2008 | Status: Trader | 1,271 Posts
As for CURRENT MOMENT - i see it is possible to reach your target #2.
But....