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Consequence Pilot Level Trading

  • #161
  • Sep 11, 2014 3:08am Sep 11, 2014 3:08am
Quoting FXEmpire
{quote} congrats.. but your ignoring the EL's.. in the long run it will hurt you.. just a brotherly advice
i dont understand u.

if i take the other side of the confirmation how SL and i wait to price breaks the last top, where is the problem?

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  • #162
  • Sep 11, 2014 3:12am Sep 11, 2014 3:12am
Quoting tnavi
{quote} i dont understand u. if i take the other side of the confirmation how SL and i wait to price breaks the last top, where is the problem? {image}

??
Passion, Persist, Patience, Protect
  • #163
  • Sep 11, 2014 3:16am Sep 11, 2014 3:16am
Quoting FXEmpire
{quote} ??
sorry for my horrible english

i try

forgive the SL...

why i entered badly?
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  • #164
  • Edited 3:36am Sep 11, 2014 3:23am | Edited 3:36am
Quoting tnavi
{quote} sorry for my horrible english i try forgive the SL... why i entered badly?

it's ok I just did not understand exactly what you were trying to say..

firstly try to read the first post and try to understand it fully.

look.. the concept of this thread is getting in early.. early entry level (EL)..
trading the regular support and resistant is just like another of many s/r thread in FF.. trading in such fashion has higher risk of getting chopped around in the range markets, mostly for larger damage..
what I do and have offered here is to minimize that and even make money in such tight ranges as well as still turning in profit on nice looking trending days and most other conditions... with some defensive skills one would be able to survive almost all conditions but when and only EL is applied..
that is the niche or edge..

i hope it makes sense to all..
Passion, Persist, Patience, Protect
  • #165
  • Sep 11, 2014 4:13am Sep 11, 2014 4:13am
pending set both ways on the earliest EL... this how you squeeze in trades if it's meant to stay or form a range.. even if it goes just barely side to side you would get your tp..
the risk of getting FO at the top or bottom of brackets or traditional S/R is more than any less than EL's..
if it's mean to not stay in range.. well you are in earlier and maybe even get more than your target.. if it mean to stay, you still most likely would get your +5 when it makes a small burst to top of bottom of the box.. if it's stay in the box and take its sweet ass time well then it's slow enough for you to make a BE out after some time..
just some scenarios run through of different options that price can throw at you... however it's too vast to put a cap on.. that is why i call it the beast.. but I enjoy head butting with the beast, lol.


my first trade, the short.. just ignore that folks.. its total miss management from my side.. that trade at worst should be a 5 pips loss when it resumed back couple of time.. i was just a bit busy.. or just simply stupid.
anyhow it's good example to see live to not ever get cut like that.
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Passion, Persist, Patience, Protect
  • #166
  • Sep 11, 2014 4:47am Sep 11, 2014 4:47am
Out @ -5.3 I did doubt this level. I think it should have been the high of the doji.
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  • #167
  • Sep 11, 2014 4:59am Sep 11, 2014 4:59am
Out @ -5.2
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  • #168
  • Sep 11, 2014 5:15am Sep 11, 2014 5:15am
my current chart with trades and exits..
ignoring the 1st trade which is still running.. i totally f-ed up that one.. even if i BE that one is a disaster.

but the other 5 trades where all of them turned to be a FO.. but the net loss between them all is 10 pips.. for avg loss of -2.. that's the kind of defense is needed to get by terrible days like this when its moving horribly..
the one clean buy winner earlier would have easily wipe that, which i missed, lol.. so not a great day for me.. but still i am ok if i defend as such.. and wanted to point it out for your knowledge and confidence if this is you thing to follow.
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Passion, Persist, Patience, Protect
  • #169
  • Sep 11, 2014 5:16am Sep 11, 2014 5:16am
wow, the PA is terrible today.
  • #170
  • Sep 11, 2014 5:20am Sep 11, 2014 5:20am
Quoting PiptheRipper
wow, the PA is terrible today.
sure.. so it is at least half the time..

the question is what are you going to do about it..
Passion, Persist, Patience, Protect
  • #171
  • Sep 11, 2014 5:25am Sep 11, 2014 5:25am
Quoting FXEmpire
{quote} sure.. so it is at least half the time.. the question is what are you going to do about it..
haha, yeah you are probably right. Good defense is what is needed. I've been struggling a bit with that today. I'm unsure whether I should exit immediately after there is some hesitation or to give it some more time. Out of my 7 entries, I've only managed to defend 2 properly. The 3rd one happened to be the only runner we had today.
  • #172
  • Sep 11, 2014 5:40am Sep 11, 2014 5:40am
Quoting PiptheRipper
{quote} haha, yeah you are probably right. Good defense is what is needed. I've been struggling a bit with that today. I'm unsure whether I should exit immediately after there is some hesitation or to give it some more time. Out of my 7 entries, I've only managed to defend 2 properly. The 3rd one happened to be the only runner we had today.
The best structure that I can give out is to..
- think survival on the 1st sign of threat against your position..
- Think Exit when the threat seems real..
- next is, to act stone cold.. price reaching anywhere close to your entry.. outtt, period.

anyways this is what i do.. and has kept my head above water for many years.. ok rip, lol
Passion, Persist, Patience, Protect
  • #173
  • Sep 11, 2014 5:54am Sep 11, 2014 5:54am
Quoting FXEmpire
my current chart with trades and exits.. ignoring the 1st trade which is still running.. i totally f-ed up that one.. even if i BE that one is a disaster. but the other 5 trades where all of them turned to be a FO.. but the net loss between them all is 10 pips.. for avg loss of -2.. that's the kind of defense is needed to get by terrible days like this when its moving horribly.. the one clean buy winner earlier would have easily wipe that, which i missed, lol.. so not a great day for me.. but still i am ok if i defend as such.. and wanted...

My performance: 8 trades, 1 win, - 6 pips for the day, all is possible.
  • #174
  • Sep 11, 2014 5:59am Sep 11, 2014 5:59am
Quoting Traffex
{quote} My performance: 8 trades, 1 win, - 6 pips for the day, all is possible.

well done..
Passion, Persist, Patience, Protect
  • #175
  • Sep 11, 2014 6:22am Sep 11, 2014 6:22am
Quoting FXEmpire
my current chart with trades and exits.. ignoring the 1st trade which is still running.. i totally f-ed up that one.. even if i BE that one is a disaster. but the other 5 trades where all of them turned to be a FO.. but the net loss between them all is 10 pips.. for avg loss of -2.. that's the kind of defense is needed to get by terrible days like this when its moving horribly.. the one clean buy winner earlier would have easily wipe that, which i missed, lol.. so not a great day for me.. but still i am ok if i defend as such.. and wanted...
hi fxempire, what is the best defense to do when the price move fast enough against you and not able to exit quickly? do you wait for the next pullback to lessen the damage or you just accept the losses as it is and move on? will appreciate much your answer. was able to do good defence yesterday but today seem so difficult.
  • #176
  • Sep 11, 2014 6:36am Sep 11, 2014 6:36am
Quoting jackenorme
{quote} hi fxempire, what is the best defense to do when the price move fast enough against you and not able to exit quickly? do you wait for the next pullback to lessen the damage or you just accept the losses as it is and move on? will appreciate much your answer. was able to do good defence yesterday but today seem so difficult.
great question.. valid concern

This is the hardest situation to defend against..
I would not accept the loss right away.. but right away i would consider such a fast move against my position as a real threat..
so.. I would look to exit this on the same candle with giving it one chance of resume and make out there fora small loss.. if it does not give me that.. then all there is left is to see if it pulls back like saying it yourself and even settle for larger loss than normal 3-5 pips.
now why i would not accept the loss right away on a fast move against.. bcz if i do that then i create this habit of making panicky exits all the time on almost every little move against my positions which would result in missing out on a lot of winners.

This is the most effective and honest answer i could have given you.

same kind of a deal happened to me on this very day on my first trade, the short one.. it moved away very fast without a chance on the same candle.. then i waited for the pullback after it's burst.. which it did give me the chance to get out at -5 even -3, and that is great.. but i was on the phone and did not act on it quick even though i was watching it. however once in while no matter what you will get cut for one reason or other, and its part of the game.. but for the most part if your trigger trade is not involved inside red news zone, then price would give you a second chance off the pullback.

all in all above everything else it's important to never get emotional in such situations.. and then one would survive even the mountain top.. i believe that.

I hope it helps.
Passion, Persist, Patience, Protect
  • #177
  • Sep 11, 2014 6:44am Sep 11, 2014 6:44am
Quoting FXEmpire
{quote} great question.. valid concern This is the hardest situation to defend against.. I would not accept the loss right away.. but right away i would consider such a fast move against my position as a real threat.. so.. I would look to exit this on the same candle with giving it one chance of resume and make out for small loss.. if it does not give me that.. then all there is left is to see if it pulls back like saying it yourself and even settle for larger loss than normal 3-5 pips. now why i would not accept the loss right away on a fast move...
yes of course it help much, exactly what i want, being panicky will prevent much loss but might miss the ride if ever it will continue in my direction. i now prefer for a bit more loss and wait for the next pullback if exit is really the right defence. thank you so much.
  • #178
  • Sep 11, 2014 6:47am Sep 11, 2014 6:47am
Quoting jackenorme
{quote} yes of course it help much, exactly what i want, being panicky will prevent much loss but might miss the ride if ever it will continue in my direction. i now prefer for a bit more loss and wait for the next pullback if exit is really the right defence. thank you so much.
YW jack.. I am glad you brought this concern up.
Passion, Persist, Patience, Protect
  • #179
  • Sep 11, 2014 6:48am Sep 11, 2014 6:48am
Out @ 0.1 Price stalled. Today so far: -0.2+0.2-5.2+10.6-5.3-5.2+0.1=-5
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  • #180
  • Sep 11, 2014 6:55am Sep 11, 2014 6:55am
Quoting Anusragger
Out @ 0.1 Price stalled. Today so far: -0.2+0.2-5.2+10.6-5.3-5.2+0.1=-5 {image}
With your spread, -5 is a phenomenal results, lol
Passion, Persist, Patience, Protect
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