In trading, you have to be defensive and aggressive at the same time
- #59,003
- Edited 10:46pm Jul 20, 2015 10:18pm | Edited 10:46pm
{quote} Bird I have been trading for 4years and I seldom rarely trade monsters line GN GC GA GJ Reason is simple 1st spread 2nd volatility. Precision entry is a must and then you hope and prey PA does not stop you out.Well 50pip SL is minimum for pairs averaging 200+pips and some days can go 400pips.It takes good experience on majors before you start on crosses.If you have less then 3years of trading I'll say stop trading crosses. Choose more forgiving pairs. Regards
I made back about 20% of losses in last week, but I was not consistent in keeping them till now. So its back to square 1 again.
As for the GU trade that we all know its in the BU trend, I probably cant seem to grasp the PA for the continuation. Now, H4 I am seeing narrow ranges, I guess its a BU candle in H4 for confirmation?
- #59,004
- Jul 20, 2015 10:20pm Jul 20, 2015 10:20pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #59,006
- Jul 20, 2015 10:51pm Jul 20, 2015 10:51pm
- Joined Nov 2012 | Status: Trader | 2,339 Posts
I Have Learned to Take Some Losses to Make Profits
- #59,011
- Jul 21, 2015 2:34am Jul 21, 2015 2:34am
{quote} Thanks , below was the plan drawn in the weekend, now at LO price went up but hesitated to continue, so sign of reversal but not confirmed, on lower time frame, M15, PA forms LL and followed by LH, opened the trade on the break of last LL , stop was only 25 pips at this stage , moved it to BE as PA reached +30 pips Pls check the plan below {image}
I wish I could do the same analysis as you did.... it's just cool and the most important thing: it generates pips!!!!!
- #59,012
- Jul 21, 2015 2:41am Jul 21, 2015 2:41am
{quote} Hello farhad10 please send your indicator for Previous Mont/week/daily regards, dan
Best,
N
- #59,015
- Jul 21, 2015 2:54am Jul 21, 2015 2:54am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Good day, Emmanuel: Sorry to waste your valuable time,I still have some dumb questions. For my question 2,what are the difference between "build more position" and "scale-in new position" ? Would you kindly explain more about scale in & out concept? please..... is "scale in position" part of ME (initial entry position plus 4 more positions)? If the price goes up, and I scale in a position, do I use the original calculated 0.2% lot for my entry? best regards, steven
here using that same example,
this should answer a your 'dumb question'.
we learn by asking questions, that's the way I was raised.
Knowing the market condition is very important when we want to trade with ME/ME.
Reading materials:
Entry and Exits: Post#24,918
How to Build a Position: Post#20,342
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,016
- Edited 4:48am Jul 21, 2015 4:14am | Edited 4:48am
Hello everyone,
This is my first post here. Until now I have been reading and reading and reading...I have still lot of work in fron of me :-) I have ben trading this method for almost a month - I started on 30.06.2015 with 991 CZK (about 40$) on demo account. Now I have 2061 CZK (82,4$) which is about 105%. I have 32/49 of profit trades (+/- 65% win rate) - yet the point is, that it is getting higher and higher - 2 week ago I had 50-55%.
If you guys have any tips and tricks for me I would be more than happy to read them and think about them. Below should be (first time I am uploading a picture) my graphs from today. I am working but I am lucky that I can check the market from time to time. These trades were closed in 10 minutes - especially EU rallied in few minutes. So I decided to close all positions at +5% -- also because I did not have that much time to check it for another few hours. Moreover I found out that having at least few pips is better than nothing. Let me know your thoughts about my entries. Thank you guys!
Lots of green pips to all of you
First chart is my favorite EUR/USD -> there are Weekly/Daily/H4 and H1 charts...The entry was supported by the trendline bounce as well.
This is my first post here. Until now I have been reading and reading and reading...I have still lot of work in fron of me :-) I have ben trading this method for almost a month - I started on 30.06.2015 with 991 CZK (about 40$) on demo account. Now I have 2061 CZK (82,4$) which is about 105%. I have 32/49 of profit trades (+/- 65% win rate) - yet the point is, that it is getting higher and higher - 2 week ago I had 50-55%.
If you guys have any tips and tricks for me I would be more than happy to read them and think about them. Below should be (first time I am uploading a picture) my graphs from today. I am working but I am lucky that I can check the market from time to time. These trades were closed in 10 minutes - especially EU rallied in few minutes. So I decided to close all positions at +5% -- also because I did not have that much time to check it for another few hours. Moreover I found out that having at least few pips is better than nothing. Let me know your thoughts about my entries. Thank you guys!
Lots of green pips to all of you
First chart is my favorite EUR/USD -> there are Weekly/Daily/H4 and H1 charts...The entry was supported by the trendline bounce as well.
MACD SCS All Time Pips:
8,722
- #59,017
- Jul 21, 2015 4:46am Jul 21, 2015 4:46am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,018
- Jul 21, 2015 4:56am Jul 21, 2015 4:56am
{quote} here is a little secret: when you trade against the higher timeframe, you should have a Plan B when your Plan A fails.
Thank you for your advice
I will print it with my trading plan and other notes.Regards,
Lukas
MACD SCS All Time Pips:
8,722
