Trading with Deadly Accuracy

And if you're Tuesday had started with this....

You can post it here. More then welcome.

...

hey yojimbo,
let me join u
eaud has about 6 touches on the tl, look for tlb and retest for shorts
ej & eu are similar, both showing channels ...
cheers

cool

eaud I see... looks like a channel. I'd prefer to be in there before the break. Maybe the high from the big vertical bear candle that ended the consolidation to the left. Or a clear reversal formation at the upper channel line in H1 / H4. But I admit waiting for a break and a daily close to trade the retest feels safer in a way.

About the euro pairs, I don't think I will take any long positions here only scalp on a good, clear pattern. As long as price doesn't take out the most recet lower high with around 100 pips + and stays there for some time I will only look to short. Got burnt far too often in the last couple of days holding long for a bit too long or having too much profit expectation even though I was looking to short. Ill wait for at least a week of good consolidation before even considering a possible reversal.

There is no secret to it or magic. There is no Midas touch.

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I was just wondering... Is the computer technician Darren on the website the Darren (aka Dazzdude) here on FF? Or they two different Darrens xD?

same here, drew my tls wrong so got burnt as well ... but levels must be met imo, going to watch them closely for possible entry.
yeah! Darren on the website is the Dazzdude here on FF
cheers

updated

price didnt get to my orders, now looking for possible entries of the trendwall to get a ride

something i also try to do is draw my tls in an entirely different way based on how price is moving ...

ozzi, dollar swiss, dollar yen

update: geppy, cable

momentum break in eu, uc, cable, geppy. Let's watch price form some hook and continuation for a good retest trade.

Below the ozzi chart which I am especially keen on. Missed my entry at the 9800 by 0.8 pips but oh well...

update: it was momentum but not a break.

2nd update: big momentum break to the lower side. trade retest there

quick update ...

retests taken place over night on all pairs so rather to be handled with care.

update: found something interesting on ozzi H4

On M15 however one can expect resistance from that lower trendline so take that into consideration when adjusting TP and scaling. Remember what Will said about bias: "Trade your lines, S/Rs and patterns for profit. You'll be in the money. Every single time. As long as you don't do it at any price." Not his exact words but that's what I wanted to hear. Trade at a price where you can define your risk and your reward (= TP & exit).

And if the risk is too high for you resort back to money management and trade with a smaller size. For instance my risk tolerance is very low. When comparing myself with successful traders I have to say that in order to be "successful" like them I would have to raise my risk and reduce my reward expectation in about 90% of my trades. But that makes me doubt whether I am correctly applying the wmd methodology. "If you rely on money management to earn a buck your system sucks. -wmd" Despite this method being the most deadly accurate I have come across I still have to learn that it doesn't mean that you can expect price to hit that low or that high to that pip 100% of the time. For example a retest that appears to have not happened in M15 appears to be a valid retest on H4 and then you thrash your PC. Will once told me that there is a difference in understanding every movement in the market to the pip (including those subjectively perceived inaccuracies) and making money.

I am in fact losing money so... if you're struggling with the same issues invest in yourself and take a course with Wmd.

even better if the retest doesn't happen today and continues.

update: ujpy

see how she plays

should've paid out quite handsomely. ~90 pips

let myself get scared by the strength of the retracement so got out with measly 15... a never ending story. holding when I should kill, killing when I should hold.

update geppy: been waiting for this one since february

remember though, never stand in the way of a vertical move

Heres the after.... sweet bcb. 2 waves.