DislikedI can use only pivot points? Or is better use ema100,ema200,prev D-W-M high/low too? I don't like charts too busyIgnored
You need to be confident, fearless, dedicated and disciplined. Please do research yourself and find your way.
{quote} Very nice Ballistical. Excellent example of discipline. Many thanks for sharing.
{quote} Dear Ballistical First I want to thank you for putting your trades here and share it with us. just a suggestion: When you plot a trend line, you must obey it, unless it breaks. look at no 1 and 2 that I draw in your pic The TP's should were on the trend line, if so, you were not BE at them, you were at least +20 pips. ( just for scalp ) Another note, your trend line is uptrend trend line, so you should take buy trades. sell trades if trend line were being broken.this is why all of your sell trades failed. you put your TP's below the trend...
Agree with what you said, although I think you mean SL's at trend-line as oppose to TP's? The trend line was actually placed fairly late on in the week (a long time after it should have been.) Had it been in place earlier, I might have been more aware of the strong bullish move taking place earlier. I also agree that sticking to trend-trades would have been more beneficial this week. I need to review my past 100 or so trades, and see what effect eliminating CT trades would have had on my overall results.
Thanks again, I always appreciate the feedback! Good luck for the coming week!
...Hi Ballistical, Nice to see you back in action after vacation. Very comprehensive details and it will be good reading for Sunday morning. Your Thurs trade was killer entry and then ME/ME was good. I am still wondering about my EA (CM), some how it stopped me at BE without reaching 21 pips. Oh well, the benefits of using CM is much higher then some system errors. This week I broke my 5% risk rule and use much bigger lot in one of the +54 pips trade. It works but I need to work on this bad habit as it appears afterevery
Thurs, I was lucky that LO continued on after the FO move as this wasn't the case for the rest of the week. I used to use CM when I couldn't monitor trades manually but I too had some instances where it closed positions early etc. Super-frustrating when you do everything right and lose out due to CM. Fortunately, I'm able to monitor my positions most of the time these days so got rid of CM. Agree that it's still worth using overall, regardless of the odd error here or there, if you're unable to monitor charts. Do you use 5% risk per trade? This is very high IMO. Personally, each of my current positions use 1% although I've always been fairly conservative so could understand this being too low for most.
Thanks for sharing the article... it turned out that was my sunday morning reading
It's completely true about keeping the brain going. I go to the gym most days after work, and find that I am a lot more focused when I've had a busy day at work, as my brain is still engaged, when you might expect the opposite to be true. It's all very relevant to trading as well, since discipline is critical to success in this game Best of luck for the coming week
Ballistical
Focus on the process and the profits will follow
- #59,865
- Aug 23, 2015 11:58pm Aug 23, 2015 11:58pm
- Joined Nov 2008 | Status: Trader | 50,193 Posts
EURUSD D1 has triple top Resistance on M1 chart according to 'Big picture planning/trading pdf' getting close to 200 ema{image}
Fantastic bull rally. The turtle trend traders must all be smiling with the money they are making so far.
Hope many of you caught the Euro cross pairs rally too and make lots of pips.
EU just reacted at 1.149 which is the 10EMA on the Monthly chart. 1.1180 is too far away at the moment and we are facing month end this week.
On the Weekly, we are targetting 1.115900 which is the 50EMA on the weekly chart TF.
How do you trade on H4 in a runaway trend?
Trade safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,867
- Aug 24, 2015 1:11am Aug 24, 2015 1:11am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
TMS 5-Method is a trend trading methodology and there is no reason for us to trade against the Price Action when there is an established trend.
Here is an example using EURCAD where the Weekly is the Primary Trend and we trade the H4 chart using ME/ME.
Here is an example using EURCAD where the Weekly is the Primary Trend and we trade the H4 chart using ME/ME.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,869
- Aug 24, 2015 2:58am Aug 24, 2015 2:58am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
- #59,873
- Aug 24, 2015 5:30am Aug 24, 2015 5:30am
- Joined Aug 2012 | Status: Trader | 18,655 Posts
TMS 5-Method is a trend trading methodology and there is no reason for us to trade against the Price Action when there is an established trend. Here is an example using EURCAD where the Weekly is the Primary Trend and we trade the H4 chart using ME/ME. {image} {image}
the cautious seldom err....C
- #59,874
- Aug 24, 2015 7:54am Aug 24, 2015 7:54am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
{quote} Bounces and more bounces!.
Can also use M15 for trade entries in such trending situation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,875
- Aug 24, 2015 7:56am Aug 24, 2015 7:56am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,876
- Aug 24, 2015 8:01am Aug 24, 2015 8:01am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
{quote}
Hi Pips29,
you are doing excellent trading the M15.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,879
- Aug 24, 2015 8:22am Aug 24, 2015 8:22am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #59,880
- Aug 24, 2015 8:23am Aug 24, 2015 8:23am
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett