{quote} ... in the end, always it comes down to who has how many posts and when was registered to FF ... so I'll continue to be blind and dumb follower as so far.
Even though I walk through the darkest valley, I will fear no evil
- #67,065
- Mar 10, 2014 7:27am Mar 10, 2014 7:27am
GOLD long add 1 order Price move down, fast with nice reaction (for me buy) I set possible TP and save SL. I add next small order. {image} {image} M1 nice action-reaction {image}
- #67,066
- Mar 10, 2014 7:32am Mar 10, 2014 7:32am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Yeah. Gotta understand he's not scalping the M1. M1 provides S/R Volume analysis for general direction and better entry.
Exactly, TAH like most of us, drop down to a lower t/f for a better EP. I'm not suggesting that FXRobert made a un-wise trade, I would like to know the below. That's why we post charts to share ideas.
FXRobert,
It's just that the 1m is so fast and not as reliable as the higher t/f's, in looking at his GBP/CAD chart it appears to be a high risk trade and curious what his thinking was, his stop placement, R/R and target. The usual considerations prior to entry? It worked but curious because we don't see too many 1m scalps posted here mostly 15m and above.
Keep It Simple
{quote} Exactly, TAH like most of us, drop down to a lower t/f for a better EP. I'm not suggesting that FXRobert made a un-wise trade, I would like to know the below; FXRobert, It's just that the 1m is so fast and not as reliable as the higher t/f's, in looking at his GBP/CAD chart it appears to be a high risk trade and curious what his thinking was, his stop placement, R/R and target. The usual considerations prior to entry? It worked but curious because we don't see too many 1m scalps posted here mostly 15m and above.
insanity: Doing the same thing over... and expecting different results -AE
- #67,069
- Mar 10, 2014 7:43am Mar 10, 2014 7:43am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #67,071
- Mar 10, 2014 7:49am Mar 10, 2014 7:49am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} Actually, it works b/c he's scalping. In addition, his trade is an RR of 1:2, so I wouldn't consider that bad. You can calculate this prior to the trade based on S/R. You have a double bottom (stopped by buying power/shot profit taking/risk aversion) followed by a pullback for retest. He then waits for confirmation by the high volume bull candle which is where he makes his trade with nice risk to reward. It's a single trade scalp with very nice setup. Then he gets out at the first SR target. Trade done. Beautiful.
Thanks for the detailed explanation. That all makes good sense when I look back at his chart. Just a bit too fast for my old eyes these days.
Keep It Simple
- #67,073
- Mar 10, 2014 7:52am Mar 10, 2014 7:52am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} qFish thanks. I'm not English therefore it's hard to tell. I'm not scalper but I try. I watch when price is (H1 - resistance) - posible change. I see M5 price flat session night. Price waves whole numer and I watch cadle + volumen.
FXRobert,
Thanks, I see what your doing now. Good Job
Keep It Simple
- #67,074
- Mar 10, 2014 7:57am Mar 10, 2014 7:57am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
{quote} qFish, Thanks for the detailed explanation. That all makes good sense when I look back at his chart. Just a bit too fast for my old eyes these days.
insanity: Doing the same thing over... and expecting different results -AE
- #67,078
- Mar 10, 2014 8:04am Mar 10, 2014 8:04am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #67,079
- Mar 10, 2014 8:08am Mar 10, 2014 8:08am
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
{quote} No problem. It may not be his reasons, but that's what I see and how I would go about that trade. And it's ok to not have the same reasons. You may come upon something yourself that is great. Just know why you enter/exit a position. Sometimes you may be in DD and need to see reasons for staying in. Your psychology is the biggest enemy imho. Even trading the 4h, I face it all the time, but I have more time to think. Trading lower TF like M1 or M5, you don't have much time. You go with your guts. Trading the M1 and M5 requires a lot of experience...
qFish,
Yes, I have scalped 1m and 5m charts for a long time with big lot sizes using another trading system and it can be profitable, but became too stressful thats why I am here. IMO, Smaller lots and higher t/f's = less stress for me.
Keep It Simple
- #67,080
- Mar 10, 2014 8:13am Mar 10, 2014 8:13am
{quote} I don't know If I understand him correctly, but he is trying to say, that he is going from H1 to M1, I do pretty much the same looking in to H1, and taking trades from M5,M15, because I already have the direction and what I need is set up!
I watch every day H4 H1
If samething atraction I watch lower TF.
GBPCAD I watch TF5 flat price and waves. Above whole numer and below numer, above whole numer and below.
I watch how look candle and volumen simple and group.
I'm not scalper but sametimes I trade scalp becouse I like fast know what I get money
