what is the name of your terminal? it is not familiar for me.
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DislikedIt did not bounce off much from 1.3016, however, that level proved itself as a good support/buying level but not great. It repeately hit my sls several times. One may notice a 2% or 3% growth in my account balance for this move, but I suspect it was an overall loss in terms of number of pips gained/Lost. This gain in only because of taking risk more than 1%, using high leverage and keeping very tight sls. This was not part of the deal, but I took those trades that way only because it was a good buying level. It is more kosher not to take risk more...Ignored
Disliked{quote} Let's continue.... Similarly some traders do not look at these cycles in a diagonal way but in a straight horizontal way, that is, they look for the price levels that cut through these cycles. Some refer to this as Price Pivot Zones and lately on these forums termed as MoFus (or M*thr F*ckr Zones). Whether it be Fibs, Bats, Gartley, Trendlines, Channels, Elliot or anyother patterns/techniques, these are all connected and form because of these PPZs. One good thing about PPZs is that you don't need a single line on your chart to reconize them....Ignored
Disliked{quote} OK............. Here is a chart showing some of the key levels. I keep an eye of these levels but do not trade them. In the next post I will explain and show how I determine my entries and exits. {image}Ignored
Disliked{quote} OK............. Here is a chart showing some of the key levels. I keep an eye of these levels but do not trade them. In the next post I will explain and show how I determine my entries and exits. {image}Ignored
Disliked{quote} Closed 3/4th position as we are entering a small selling zone from 1.3025 to 1.3040Ignored
Disliked{quote} Shorted 2 lots,with sl above 1.3040. Planning to take profit near 1.3016Ignored
Disliked{quote} We are still in this selling zone. But if it overcomes, will end-up at 1.3160 Tried to play that small selling zone, but no use. Lost few percentages. Back to long position. {image}Ignored
Disliked{quote} Coming back to the system discussion. If you compare what happened when we focused on 1% risk and 1% reward and what happened when we started focusing on trade set-ups. ................Will be back in 7 minutes to continueIgnored
Disliked{quote} re-entered. May get sl in 10 pips but 1.3040 is there for second attemptIgnored
Disliked{quote} u Don't know how many attempts I have made but one thing is for sure........ they all gave me huge losses. We are in a very good buying zone and I don't want to miss this opportunity. The only thing I am not following is the 1% rule. My risk is times more than 1%. Following the 1% rule and keeping sl beyond 50 pips is very wise but not thrilling. Market noise few times went in my favor but could not materialize this move. My only fear is 1.2800 support, if it breaks I will lose 90% of the account. ps. 1.2779.3 to be exactIgnored