Timing the Trade

6E update:

GC update:

GC update:

GU trade
Price drop in an interesting R/S - Supply/Demand flip, it drops with high volume = strong partecipants are interested
Low volume at the R/S (see the circle) = no interest into pushing belowe it
A couple of interesting candles with low volume

Update on GC trade from last night....stopped out for -$90

Eurjpy:

This trade is on the demo side. I neglected to switch accounts on my trade manager
before I entered the short.

....second pic text point 2. should say 'prior'.

Audusd moving into an area of interest:

Euraud 60 min:

Stain,

Good observations on the volume.

Eurjpy:

Earlier trade stopped out for breakeven. Following pics are a second short entry.

Target one hit:

Target 2 hit:

Target 3 hit:

Audusd:

Target one hit:

Was away from the computer at market close. Came within a pip of hitting target # 2. Lowered the stop and will see what happens Sunday afternoon.

Risk management is really the key to winning at this trading game. Once you enter a trade, you lose all control over how the market moves.
All we...as retail traders control is where we enter and where we decide to exit! If one can pick winning setups consistently, size will take care of itself.

Any given market is a complex, always changing fluid environment that is controlled by powers (Institutions, Fund Managers, Hedge Funds) way above the mere mortals (retail traders)! The best chance of success for us lowly beings is in trying to understand and trade in harmony with the Alpha dogs! The best and really...only consistent approach I (as a humble lowly trader seeking enlightenment on this complex journey) have found, is in learning to read volume. Because volume is the footprint that gives clues to where markets are going next. Not lagging indicators...but forward looking.

But the ability to extract money from the computer screen...from anywhere in the world...with no boss...and minimal overhead...with unlimited earning potential is the common glue that keeps us coming back for more. I can't think of many goals more worthy and challenging!

When it comes down to it, every time a trader presses the buy/sell button, that trader has entered combat! You think I'm kidding? At that point, the lowly retail trader has chosen to engage minds with some of the sharpest people on the planet (if it were easy...everybody would be doing this and saying '*&@#$' to their bosses) Remember this....every time you have a winning trade, some poor sap...somewhere in the world, just lost money! And every time you have a losing trade...someone is laughing at your poor trading skills as they transfer your money into their account!

That's just the hard cold facts of the serious game...you have wondered into.

Gold is approaching an area of interest:

Thank you, i am an experienced (and profitable) trader, but volume is something totally new for me.
My very short term levels for gold, there was/is significant demand (look at the red line) belowe the first flip.

Refer to post # 436:

Audusd remaining two positions held over from Friday was stopped out for -10 pips.

Today's early morning trade.....Gbpusd: First two profit targets hit, third hit trailing stop for +4 pips.

Second Gbpusd trade:

Target 1 hit: