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123PatternsV6 revisited

  • #841
  • Oct 16, 2013 1:21pm Oct 16, 2013 1:21pm
Dee, Where did you drew your support and resistance from that GU chart?
  • #842
  • Oct 16, 2013 1:48pm Oct 16, 2013 1:48pm
Thx dee for your comments. Yeah Ive still got to concentrate more on just 123 type entries. I appreciate your feedback.
  • #843
  • Oct 16, 2013 3:16pm Oct 16, 2013 3:16pm
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Not to good
  • #844
  • Oct 16, 2013 3:17pm Oct 16, 2013 3:17pm
another one
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  • #845
  • Oct 16, 2013 3:18pm Oct 16, 2013 3:18pm
and another
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  • #846
  • Oct 16, 2013 3:20pm Oct 16, 2013 3:20pm
clearly along way to go....
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  • #847
  • Edited 3:17am Oct 17, 2013 3:06am | Edited 3:17am
EU +44 +70.
GU +50 +100

"Focusonmoney" See the lines on my charts, see what price level they are at, now draw the same lines on your chart and scroll back, what do you see happening when price hits the line. Practice looking for levels, after some time it becomes much easier. Start on the Daily, then change down to the 4Hr, then to the 1Hr. Use the 1hr and 15min for your short term S&R levels. Another way is zoom out, you will see the levels much more easily, they actually become obvious when you zoom out.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU +50 +100 17 10.png Size: 30 KB
Cut your Losers short and let your Winners run.
  • #848
  • Oct 17, 2013 3:17am Oct 17, 2013 3:17am
Great Trades Dee, Really learning lots from you.....
  • #849
  • Oct 17, 2013 3:51am Oct 17, 2013 3:51am
Quoting dee50
EU +44 +70. GU +50 +100 "Focusonmoney" See the lines on my charts, see what price level they are at, now draw the same lines on your chart and scroll back, what do you see happening when price hits the line. Practice looking for levels, after some time it becomes much easier. Start on the Daily, then change down to the 4Hr, then to the 1Hr. Use the 1hr and 15min for your short term S&R levels. Another way is zoom out, you will see the levels much more easily, they actually become obvious when you zoom out. {image} {image}
Great Job Dee,

I want to know how you enter into the market, or u place pending orders..
thanks
regards
  • #850
  • Oct 17, 2013 4:08am Oct 17, 2013 4:08am
Quoting jeetvirk
{quote} Great Job Dee, I want to know how you enter into the market, or u place pending orders.. thanks regards

This morning I used Market Orders, I opened the charts saw the trades and entered. Other times I use pending orders, depends on how the PA is setting up. If I am not sure I wait and use a market order. If the pattern looks good and the entry point is not near a major level I will use a Pending order. Sorry, does not help much does it? but I am a Discretionary Trader.
Cut your Losers short and let your Winners run.
  • #851
  • Edited 5:24am Oct 17, 2013 5:09am | Edited 5:24am
Support & Resistance. Supply & Demand. Here are a few things to help you. Had to split this E Book to upload it. 001 is first. 064 is second half. Written by a young man, "PhanTi" at the tender age of 21. Do you think he will do well in trading.? Had a couple of threads here on FF.
Attached File(s)
File Type: mq4 SS_SupportResistance_v04b.mq4   25 KB | 704 downloads
File Type: ex4 II_SupDem v2.ex4   36 KB | 585 downloads
File Type: pdf Trading_Price_II_001.pdf   5.4 MB | 2,174 downloads
File Type: pdf Trading_Price_II_064.pdf   5.7 MB | 2,452 downloads
Cut your Losers short and let your Winners run.
  • #852
  • Oct 17, 2013 7:25am Oct 17, 2013 7:25am
Quoting dee50
EU +44 +70. GU +50 +100 "Focusonmoney" See the lines on my charts, see what price level they are at, now draw the same lines on your chart and scroll back, what do you see happening when price hits the line. Practice looking for levels, after some time it becomes much easier. Start on the Daily, then change down to the 4Hr, then to the 1Hr. Use the 1hr and 15min for your short term S&R levels. Another way is zoom out, you will see the levels much more easily, they actually become obvious when you zoom out. {image} {image}
That's great Dee, I knew that you will beat the market today, I took today the same entries like you did , but my problem is the same I can't wait for the right exit , I still work on Demo which I treat like real, whenever I have few pips I just close the orders and when I look few hours later to see the market I start to hit my head into the wall, whenever I have a loosing trade I wait for days to minimize the loose , but for a winning trade few pips would make me want to run a way with them like a jerk !
I know that patience is a virtue but I cannot be patient unless I'm loosing.....Dah...
  • #853
  • Oct 17, 2013 12:11pm Oct 17, 2013 12:11pm
Quoting geomoon
{quote} That's great Dee, I knew that you will beat the market today, I took today the same entries like you did , but my problem is the same I can't wait for the right exit , I still work on Demo which I treat like real, whenever I have few pips I just close the orders and when I look few hours later to see the market I start to hit my head into the wall, whenever I have a loosing trade I wait for days to minimize the loose , but for a winning trade few pips would make me want to run a way with them like a jerk ! I know that patience is a virtue...
Welcome to the club. Same problem for every one. In fact it is the single biggest reason for many traders failing!!! The only way to overcome this problem is through confidence, you develop the confidence over time to set your target and leave it alone. I am concerned that you will not take a loss and hold on to a losing trade trying to mitigate your loss, that is the road to ruin, cut your losses short and re enter, if you panicked to soon. Or take a smaller position size, one that does not hurt so much
Cut your Losers short and let your Winners run.
  • #854
  • Oct 18, 2013 12:33am Oct 18, 2013 12:33am
Quoting dee50
{quote} Welcome to the club. Same problem for every one. In fact it is the single biggest reason for many traders failing!!! The only way to overcome this problem is through confidence, you develop the confidence over time to set your target and leave it alone. I am concerned that you will not take a loss and hold on to a losing trade trying to mitigate your loss, that is the road to ruin, cut your losses short and re enter, if you panicked to soon. Or take a smaller position size, one that does not hurt so much
Aha.... so I'm not a lone in this and it's the human nature and the only way to overcome this is by experience !! it's strange that we all live in a world of uncertainty and we accept it , but when it comes to money and known loose we start to run away.
it's good to know that it's not only me and building confidence over time will not consume all the capital " I hope " , I agree with you that it's better to cut your losses and re enter.
Thanks Dee...... you are the best !
  • #855
  • Oct 18, 2013 5:03am Oct 18, 2013 5:03am
EJ +22. GU +20. UJ +40. 2 CT Pin Bar Trades and a 123.
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Cut your Losers short and let your Winners run.
  • #856
  • Oct 18, 2013 5:41am Oct 18, 2013 5:41am
Quoting dee50
EJ +22. GU +20. UJ +40. 2 CT Pin Bar Trades and a 123. {image}

Good Way to go Dee , since EU had a big move yesterday, it's wise to stay a way from it for today , I can see that you are have moving averages all over the charts , do you rely on them as targets ?
Have a nice week end !
  • #857
  • Oct 21, 2013 10:04am Oct 21, 2013 10:04am
Please,
can some coders add alert sound to show123v2?
thank's in advance
  • #858
  • Oct 25, 2013 2:31am Oct 25, 2013 2:31am
Quoting carbonmimeti
Please, can some coders add alert sound to show123v2? thank's in advance
Ask in the Tech forum that is where the programmers hang out.
Cut your Losers short and let your Winners run.
  • #859
  • Oct 25, 2013 2:39am Oct 25, 2013 2:39am
Quoting geomoon
{quote} Good Way to go Dee , since EU had a big move yesterday, it's wise to stay a way from it for today , I can see that you are have moving averages all over the charts , do you rely on them as targets ? Have a nice week end !

I do not have many MAs. Using the TEB method, 100 EMA 30 EMA 5 EMA. On my EU charts 50 EMA 200 EMA. I only use the 200 EMA as a potential target because so many pro traders have that on their charts and it usually forms S&R because of this. If an ema is part of confluence, then yes it is a target or it is part of the target. Any other time I TP at or near an MA it is coincidence and there is usually another more pertinent reason for taking profit in that area.
Cut your Losers short and let your Winners run.
  • #860
  • Oct 25, 2013 2:47am Oct 25, 2013 2:47am
This weeks EU trades. +235 pips. NFP was very generous to me, I was in the market prior to the announcement, with a very small 10 pip SL, so the gap up was very beneficial to me. The rest of the week was extremely bitty, so I set my TPs at realistic points. Today, to alleviate the boredom of trading, I am going to watch the paint dry on my walls and maybe count how many grains of rice there are in a 1Kg bag.
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Cut your Losers short and let your Winners run.
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