Is it just me, or there is really nothing out there as per setups?
Anyone has any advancement this week?
Cheers
Anyone has any advancement this week?
Cheers
- #1,166
- May 26, 2011 10:55am May 26, 2011 10:55am
nzdxxx pairs had some good opportunities as well as eurgbp..
My latest positions on both pairs died at b.e although they all were at good levels.
shorted eg at .8720 now its down over 100 pips....this one was little "too much".Price hit my entry level at b.e then reversed quickly and never came back to my entry.Its like market knew the exact level where I kept my breakeven trade
bought nzdusd at .7896 now its up about 200 pips--------this one also died at b.e
so this means I had good attempts and they could easily have turned out profitable trades but market did not allow me to get in its ride with my low risk entries..Its all good.There will be another opportunity.
for the next week I'll be watching some pairs.
like eu now forming a very nice bullish setup (currently a pinbar right on 1.4 level) but its still too early to make a call..
nzdusd trying to make a close above .8 level which is very bullish.
au nicely forming a pinbar on a median line (1.05) which shows its intention to move up (if its still the case by the end of the week)
******
All you need to do is
first, pick your weekly chart that indicates its direction clearly by price action and location.Stay focused on the qualified pairs during the week
second, start watching them on 4hr chart until they match with your weekly hindsight.
third,enter upon low and clear entry opportunities.if it fails but gives you another but this time better opportunity,try one more time.But nothing more than two attempts per single 4hr candle.
My latest positions on both pairs died at b.e although they all were at good levels.
shorted eg at .8720 now its down over 100 pips....this one was little "too much".Price hit my entry level at b.e then reversed quickly and never came back to my entry.Its like market knew the exact level where I kept my breakeven trade
bought nzdusd at .7896 now its up about 200 pips--------this one also died at b.e
so this means I had good attempts and they could easily have turned out profitable trades but market did not allow me to get in its ride with my low risk entries..Its all good.There will be another opportunity.
for the next week I'll be watching some pairs.
like eu now forming a very nice bullish setup (currently a pinbar right on 1.4 level) but its still too early to make a call..
nzdusd trying to make a close above .8 level which is very bullish.
au nicely forming a pinbar on a median line (1.05) which shows its intention to move up (if its still the case by the end of the week)
******
All you need to do is
first, pick your weekly chart that indicates its direction clearly by price action and location.Stay focused on the qualified pairs during the week
second, start watching them on 4hr chart until they match with your weekly hindsight.
third,enter upon low and clear entry opportunities.if it fails but gives you another but this time better opportunity,try one more time.But nothing more than two attempts per single 4hr candle.
Can I ask you this: Why do you feel you need to trade more frequent? Trades come and go why not just wait on the best ones, have a high success rate, and make good bank on each trade?
You don't have to answer this to the thread but just for you to think about. I can tell you this personally, when I cut my trades to a third of what they use to be, my profits have never been higher.
simple
I've lost money by trading more.
But I think I answered this question once before. The thing that keeps you "waiting" most with this method are the four hour signals. There is a four hour signal every hour somewhere depending on your broker. Sign up for a few demo accounts with different GMT time brokers and load up all of those charts for more setups. I am probably going to stick with one chart since the more time I spend in front of the charts, the more I tend to mess something up!
- #1,174
- May 29, 2011 8:00am May 29, 2011 8:00am
Indeed, my week entry NZDCAD is still alive, now almost reaching 200 pips!
My first big one, man
Thanks Nomask for teaching us your amazing method !!
and good luck forever to you,,
only an analysis, and I'm always wrong,
don't follow me,
- #1,176
- May 29, 2011 9:01pm May 29, 2011 9:01pm
- Joined Aug 2009 | Status: Just trade it! | 1,230 Posts
Money is made by sitting, not trading. Jesse L. Livermore