I canceled when price started pulling back second time then went to bathroom and then realized I should have short it
The 5 minute TF S&R trading system
- #3,027
- Jul 2, 2013 4:41am Jul 2, 2013 4:41am
Trades for LO session, I trade EJ and EU for this type of strategy.
Closed EU trade around BE as didn't like choppy PA, got there in the end with some help from the news.
Not sure if I'm trading by exact rules here, still going through thread, so happy to be corrected!
Also I use IT Finance 125 tick for entries and run 5M > through MT4.
Closed EU trade around BE as didn't like choppy PA, got there in the end with some help from the news.
Not sure if I'm trading by exact rules here, still going through thread, so happy to be corrected!
Also I use IT Finance 125 tick for entries and run 5M > through MT4.
- #3,032
- Jul 2, 2013 12:11pm Jul 2, 2013 12:11pm
No setups today
{quote} I didn't see any great setups on EURUSD today either ... and yesterday was a no trade day for me as well patiently waiting for a good setup ... remember ... we only need a handful of good setups to make our month ... quality over quantity!!!
Just trying to get a handle on how you guys are trading here and picking set ups.
I saw three set ups this afternoon (one I would not have taken), the other two I saw as fairly high probability trades given the confluence.
Can I ask what disqualifies these set ups? Are you only looking for trend trades and not trading any days/afternoons we are swinging in a moderate range?
{quote} {quote} Just trying to get a handle on how you guys are trading here and picking set ups. I saw three set ups this afternoon (one I would not have taken), the other two I saw as fairly high probability trades given the confluence. Can I ask what disqualifies these set ups? Are you only looking for trend trades and not trading any days/afternoons we are swinging in a moderate range? {image} {image}
I will let the founder of this thread, fxpivots, answer your questions as he is the best expert in "his" system.
I trade it somewhat differently (not much though) and thus will not try to confuse anyone here by providing my detailed view.
In general I can say that your trades seem valid and reasonable from a technical perspective and I can see why you took/would have taken them. They are just not meeting the high standards of fxpivots who is only looking for a handful of good trades a month and thus is just choosing the best ones.
Hope it helps
- #3,034
- Jul 3, 2013 2:35am Jul 3, 2013 2:35am
{quote} Hi nhen, I will let the founder of this thread, fxpivots, answer your questions as he is the best expert in "his" system. I trade it somewhat differently (not much though) and thus will not try to confuse anyone here by providing my detailed view. In general I can say that your trades seem valid and reasonable from a technical perspective and I can see why you took/would have taken them. They are just not meeting the high standards of fxpivots who is only looking for a handful of good trades a month and thus is just choosing the best ones....
Beautiful short on the EJ at LO from 67, rode to figure but it pushed through. Love this pair, great R:R when it moves.
