Disliked{quote} Just my 2 cents. Divergences and closes over / under the MA can happen anytime in any chart. You need to have more behind a trade. Understanding of price action and of support and resistance. Don't trade only divergences and closes over / under MAs. Look back and I'm sure you will find divergences that failed. Price doesn't move because there is a divergence. Price moves because there is an imbalance in the supply / demand report. The divergences show loss of momentum which may indicate the beginning of this sort of imbalance. Dee mentioned...Ignored
Took another scalp of 8 pips. I should tattoo this on my head: let the orders run....
I pulled the trigger manually because there was a trend line that price respected and after touching the SR price did not immediately ran up. On one side I could see it as price is accumulating for another move up, on the other side I could see this a price is absorbing sellers and the move up will be anemic. I all most closed the trade with a minus 3 or 4 in the range, but it started making small higher progress so I decided to live it.
I pulled the trigger manually because there was a trend line that price respected and after touching the SR price did not immediately ran up. On one side I could see it as price is accumulating for another move up, on the other side I could see this a price is absorbing sellers and the move up will be anemic. I all most closed the trade with a minus 3 or 4 in the range, but it started making small higher progress so I decided to live it.
- #3,323
- Edited 9:36am Sep 10, 2015 9:24am | Edited 9:36am
{quote} Thanks MisterC, really appreciate your comments.
If you are new to trading I suggest you read: JJRVAT's PDF that is attached on this thread by Dee.
Watch this video :
Inserted Video
Watch the truth behind price movement series from this channel: https://www.youtube.com/user/petefaders
And go through every post that Dee made, those before he started trading renko's included. And spend lot's of time simulating. Most people avoid simulating because they are afraid to be wrong (well, I should not generalize...I avoided simulating form that reason
) but by simulating and watching charts you stay rooted in reality, you see what works, what doesn't, where you need to perfect. Also, develop your trading psychology: http://www.forexfactory.com/showthre...46#post8447246 . Trade mindfully is a good asset.I did made a more comprehensive list but that is if you really want to go hardcore here: http://www.forexfactory.com/showthre...52#post8456052 ; the small list from here should be more than enough. As Dee reminded me recently: you can know too much and it can become detrimental. In the end it's your choice, you can evaluate your progress and need for more knowledge.
Hope this helps.
- #3,324
- Edited 9:47am Sep 10, 2015 9:37am | Edited 9:47am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
nescentia necat
- #3,325
- Sep 10, 2015 9:56am Sep 10, 2015 9:56am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
and the loser of the day
SL hit -10 audjpy
SL hit -10 audjpy
nescentia necat
- #3,326
- Sep 10, 2015 10:41am Sep 10, 2015 10:41am
and the loser of the day SL hit -10 audjpy {image}
) Seem to me you bought in the middle.So guys what timeframe do you use for S/R. My zebra is still waiting!
- #3,327
- Sep 10, 2015 12:01pm Sep 10, 2015 12:01pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
{quote}So guys what timeframe do you use for S/R. My zebra is still waiting!
I have already done several posts explaining how to draw S&R levels, here is a link to one of them.
Alternatively there is the function "search this thread"
http://www.forexfactory.com/showthre...05#post8088805
Cut your Losers short and let your Winners run.
- #3,328
- Sep 10, 2015 12:05pm Sep 10, 2015 12:05pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #3,329
- Sep 10, 2015 12:08pm Sep 10, 2015 12:08pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #3,331
- Sep 10, 2015 12:24pm Sep 10, 2015 12:24pm
{quote} Glad to help. If you are new to trading I suggest you read: JJRVAT's PDF that is attached on this thread by Dee. Watch this video : https://www.youtube.com/watch?v=u8eGrIvlCBQ Watch the truth behind price movement series from this channel: https://www.youtube.com/user/petefaders And go through every post that Dee made, those before he started trading renko's included. And spend lot's of time simulating. Most people avoid simulating because they are afraid to be wrong (well, I should not generalize...I avoided simulating...
- #3,333
- Sep 11, 2015 1:40am Sep 11, 2015 1:40am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} Kind of ranging to me. I'd buy lower or sell higher. If I liked these type of ranges.
{quote} Thought you were done for the day? If you are not careful you will be printing out charts putting them in a blender and main lining them because you can not sleep through the night with out a "Trading Fix"
it was really a forced useless.
the market had already given the game over.
I have to start to print me signs to be attached to monitor like 'get out!' 'do not touch the mouse!'
...or even something more offensive ..
nescentia necat
- #3,334
- Sep 11, 2015 1:41am Sep 11, 2015 1:41am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
nescentia necat
- #3,335
- Sep 11, 2015 1:47am Sep 11, 2015 1:47am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} Friska, pretty nice trading, sorry for break, I am really busy these days, but there is reason: http://www.forexfactory.com/showthread.php?t=557219 Few beta versions of that EA we have already tested and my good friend is working on the finally version.
keep us updated on your progress ...!!
nescentia necat
- #3,336
- Sep 11, 2015 3:08am Sep 11, 2015 3:08am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
dax adding short pos +20+16 ongoing
let's see..
let's see..
nescentia necat
- #3,337
- Edited 3:38am Sep 11, 2015 3:26am | Edited 3:38am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
dax adding short pos +20+16 ongoing let's see.. {image}
2nd +54 ongoing
edit out 2nd +64 div on 10100 10/5 pip renko
nescentia necat
- #3,338
- Edited 7:00am Sep 11, 2015 6:20am | Edited 7:00am
Took a trade on my demo account. This is tick chart.
Price made a DT on the lows moved higher and this is the 1st PB. What I don't like about this trade is that the impulsive up move did not make more progress higher so price may end up ranging or going lower. But...we'll see...for now it looks good
EDIT: price went 10 pips in my favor, placed SL at BE
EDIT: closed for 6p as price started retracing
CONCLUSION: my order management was s**t. Good entry, bad exit. I waited for 2 rejections at the lows (3 if you look at M5) and a break so I have a good confirmation for entry and of course the context was appropriate. However I exited on the 1st rejection at the tops. I should have either closed my order as the wide range bar closed (the one before the 1st rejection) or as the inside bar formed showing a contraction in volatility; the latter is a proper conservative exit. I need to perfect my order management...
Price made a DT on the lows moved higher and this is the 1st PB. What I don't like about this trade is that the impulsive up move did not make more progress higher so price may end up ranging or going lower. But...we'll see...for now it looks good
EDIT: price went 10 pips in my favor, placed SL at BE
EDIT: closed for 6p as price started retracing
CONCLUSION: my order management was s**t. Good entry, bad exit. I waited for 2 rejections at the lows (3 if you look at M5) and a break so I have a good confirmation for entry and of course the context was appropriate. However I exited on the 1st rejection at the tops. I should have either closed my order as the wide range bar closed (the one before the 1st rejection) or as the inside bar formed showing a contraction in volatility; the latter is a proper conservative exit. I need to perfect my order management...
- #3,340
- Edited 4:42am Sep 12, 2015 4:24am | Edited 4:42am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote}
several occasions yesterday by dax ..
sometimes it is generous and in the mood,
gives calm movements and and readable ..
thx! to you, c u on monday!
nescentia necat