So, here is my trade, planned yesterday and executed tonight (which Dadas mentioned earlier)
That was my plan
And here is the execution
That was my plan
And here is the execution
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DislikedOk, 2 trades that was taken today, but they didn't work out well. First one, GBPUSD: {image} I tried to copy the idea to open short on the S/R . It did worked as it is marked on picture. However, I didn't realise this: Breakout Candle, so I should have been looking for a Long, not Short. In the earlier example there was no break out, and the price action was rather "telling" to open short, but not today. Today was an obvious long. I lost -11 pips. The second trade, AUDUSD. {image} Same IDEA as previously. However, it could work out here, but I...Ignored
DislikedOk, 2 trades that was taken today, but they didn't work out well. First one, GBPUSD: {image} I tried to copy the idea to open short on the S/R . It did worked as it is marked on picture. However, I didn't realise this: Breakout Candle, so I should have been looking for a Long, not Short. In the earlier example there was no break out, and the price action was rather "telling" to open short, but not today. Today was an obvious long. I lost -11 pips. The second trade, AUDUSD. {image} Same IDEA as previously. However, it could work out here, but I...Ignored
DislikedAccording to Case 1: I don't know why I missed the PTECZ, probably because it lasted only 2 hours( this week opening candle ) and I decided to ignore it. Wrong ! Now I know that I should never do that again. I realised just after the wrong trade was taken. I realised that I did wrong. Then I saw PTECZ, BO candle.retrace- everything became clear. I wrote it under the first picture.Ignored
DislikedCase 2: Well, I entered this trade because as I have seen many times, once price breaks out and forms a trend, it often retraces back to the zone. So, I placed Buy Limit pending order end went to bed...Ignored
DislikedTime to take a decision. I'll stick to EA for pending short, take a ECad as a hedge, put a pending buy stop for GU and pending sell stop for GA. But while placing orders, I noticed that GU pending buy will sit couple pips above BigRoundNumber (BRN), the area where Big Guys like to pump the price for some shorts, so decided to skip that trade.Ignored
DislikedSo, after a day of nervous awaiting my trades finally got some profit... GA{image} EA{image}Ignored
Disliked{quote} GBPAUD I said you wouldn't get anything, and you got a trigerred order which took 2 days to complete. However, Price didn't BO PTECZ UP, so it was likely for return back Down! So, instead of using nerves, you just had to see if Price was BO PTECZ UP or DOWN. EURAUD Exactly what I said. Same scenario as above.Ignored
Disliked{quote} But if I waited for the BO to happen then what my TP would be?! Should I wait for the BO candle to close next day and after that how would you estimate a TP level?Ignored
Disliked{quote} GBPAUD I said you wouldn't get anything, and you got a trigerred order which took 2 days to complete. However, Price didn't BO PTECZ UP, so it was likely for return back Down! So, instead of using nerves, you just had to see if Price was BO PTECZ UP or DOWN. EURAUD Exactly what I said. Same scenario as above.Ignored
DislikedThe more I read and practice, the more I can understand your method, sometimes feel more confident but sometimes not. I just read to page 100, and often went back to read the old thread again, still long way to go. Btw, from page 100, there are lot of discussion about the PTECZ trader, but couldn't find it in the thread, I don;t know if you can email me one? If not, no worries, I will continue the manual drawing. Thanks.Ignored
Disliked{quote} Yes, it's a long journey, but a very interesting one, too. Don't give up! Just persist no matter what! Don't worry if you get confused, just let it go! Your mind will do the work while you're sleeping. After some time you will see and understand more and more.Ignored