i do not think too much, i longed 4450 that is what h4 telling me,
see u up
see u up
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DislikedThanks Dean, you are so right. In his PDF dcginc posts : "3-5 trades per week are plenty for me. 6-10 is a busy week. You can make a great living with just a few good trades a week..." I found that quote very inspiring and strive to learn how to trade this way.Ignored
QuoteDislikedHello, I don't believe in counting how many trades I have done and passing on great setups because I have reached my "limit" of the week.
DislikedThanks Dean... that was a very nice post and very much appreciated.
Well, just got back to see I missed GBPUSD's move of the day. Short on 4hr (Central Euro Time broker). Broke previous low and would be about +50 so far. Never mind... there'll be plenty more!Ignored
DislikedYes but in saying that mate I was looking at in on the hourly chart when I got the signal and the candle just didnt look like gettting through the resistance along 1.6450 if you have a look.....it obvioulsy did, but it put me offIgnored
DislikedOh absolutely. I wouldn't have taken that on the 1hr either. It looked as if it was just bouncing off the sides of its trading range. The time to hit it I think would have been when it clearly broke the previous low at about 1.6420. That coincided with the recent 4hr candle on my chart. My problem earlier was concentrating too much on the narrow trading range of the 1hr and looking for breakout of that. Should have looked at the bigger picture (the 4hr) and said 'ah.. now THAT'S the range'.
EDIT: also, I think I said when I took the trade something...Ignored
DislikedYep you got it. That's exactly how it works.
So let's say your account size is $2000 and your maximum risk per trade is 1.5%. That means if you're trading 0.1 lots = $1 per pip = 30 pips maximum stop loss.
If you wanted your stop loss at 60 pips, you would have to trade .005 (50 cents per pip) lots to maintain that 1.5% risk.
A 44 pip stop loss would mean (gets calculator out) .007 lots.
It's worth having all this on paper so when you come to trade, you can see instantly what your trade value should be for the stop loss you want. So you...Ignored
DislikedAnyone seeing any opportunities for this next session?
I am not, the three I am looking at is as follows:
AUDUSD: Flatlining, hasnt done anything for a while and I dont think that will change.
EURUSD: 4H cross up, but daily trend down, 4H just heading into resistance.
GPBUSD: Not yet crossed, but TDI on Daily and 4H not agreeing...
Im keeping myself to only these pairs for now.
If anyone sees anything let us know, Happy to learn if I missed something.
Trying to follow the rules, which sometimes means not trading.
CheersIgnored