Good post Jeremy.
Is your risk in check? A 50% drawdown is pretty rough.
Best of luck in the new year.
Is your risk in check? A 50% drawdown is pretty rough.
Best of luck in the new year.
Hey Karl,
this are not valid setups imo. You need clearly setups to trade successful consistently. Don't try to see a setup in every chart. It should jump right of the screen to you and scream: "Karl, i am the sexiest RR that you ever seen, please trade me! ".
Less trades, more quality setups--> more pleasure.
See my chart below...(Sorry for my bad English)
BTW Rusty gives you already an excellent answer as i see now!
Attachment
I think this level has been validated. I post my updated chart. Maybe I'm wrong, of course that's just an opinion.
- #4,666
- Nov 20, 2012 5:36am Nov 20, 2012 5:36am
Hey Bullz,
I think this level has been validated. I post my updated chart. Maybe I'm wrong, of course that's just an opinion.
your second trade looks already triggered, as well your first trade met it's FTA. So you ALREADY have 2 winners here. Trader's common mistake is to turn winners into losers
Please be careful here Karl,
your second trade looks already triggered, as well your first trade met it's FTA. So you ALREADY have 2 winners here. Trader's common mistake is to turn winners into losers
Attachment
- #4,672
- Nov 20, 2012 2:57pm Nov 20, 2012 2:57pm
Easy guys, i think Grizzly was just saying to stick to the best setups only.
Anyway it could be a good research to make a record of some non A trades and review them lately to check if you can find a way to extract some money of these, too. Worst case scenario, you would find out there is no point in playing those and have e good record of trades to stay away from
Anyway it could be a good research to make a record of some non A trades and review them lately to check if you can find a way to extract some money of these, too. Worst case scenario, you would find out there is no point in playing those and have e good record of trades to stay away from
audusd RR
edit: thoughts for order: wide stop because I remember tom said aud has a habit of breaking through a bit before bouncing. I would classify this as a B- setup as the resistance area prior to the break is the only clear level.
thought 2: zooming out this area seems to be a PPZ so it could floor through my order. this is why I'm on demo.
The thing is you classified it as a B- setup. What do we do with anything less than A setups? We skip them and wait for A setups.
And btw, Your TP seems a bit high imo... The way i see it , this is the FTA.
GL and lay off the caffeine.
I don't need easy. I just need possible.
- #4,675
- Edited Nov 21, 2012 2:39am Nov 20, 2012 4:59pm | Edited Nov 21, 2012 2:39am
Easy guys, i think Grizzly was just saying to stick to the best setups only.
Anyway it could be a good research to make a record of some non A trades and review them lately to check if you can find a way to extract some money of these, too. Worst case scenario, you would find out there is no point in playing those and have e good record of trades to stay away from
Update: Bounced off the level predicted, FTA hit right where Griz said. Still making higher lows and barely higher highs. I think I would have moved my SL up to 1.03540 and let it run. However my buy limit order was not triggered, not sure why.
Edit: I've noticed from previous patterns the W shape formed during accumulation below has a high probabability to be a successful RR, 4/5 I found have been successful, and 3/5 have bounced for their complete breakout high. Food for thought.
- #4,677
- Edited 8:23am Nov 21, 2012 7:47am | Edited 8:23am
SFP play. I tend to miss SFP's all the time, but this one i caught pretty on time 
There are 3 spots where i have found SFP's work better:
1 - at sharp highs/lows with nice wicks
2 - at divergence where you trade 2nd or 3rd diverging high/low
3 - at PPZ's on the second ppz touch, maybe the third after the flip.
EDIT :
This one closed for 2R.
There are 3 spots where i have found SFP's work better:
1 - at sharp highs/lows with nice wicks
2 - at divergence where you trade 2nd or 3rd diverging high/low
3 - at PPZ's on the second ppz touch, maybe the third after the flip.
EDIT :
This one closed for 2R.
- #4,679
- Nov 21, 2012 8:32am Nov 21, 2012 8:32am
Examples of the other 2 scenarios:
The first one even is a combination of both:
So these are the 3 locations i like to look for SFPs. This is just my personal opinion and research of course.
The first one even is a combination of both:
So these are the 3 locations i like to look for SFPs. This is just my personal opinion and research of course.
