Live today like theres no tomorrow-- Prioritize like you will die today
- Joined Jul 2013 | Status: Member | 859 Posts
Live today like theres no tomorrow-- Prioritize like you will die today
Trading Made Simple 146,162 replies
Trading Made Simple the right way, and other trading lessons 333 replies
Indicators for the 'Trading Made Simple' system 343 replies
MTF Indicators for the 'Trading Made Simple' system 241 replies
DislikedJust showing you something. I'm not getting into posting live charts in this thread. I'm not able to do it for one thing. For the other I posted enough live charts in the other thread, a fair few of them before the trade took place. Yes, I COULD have gone short at the start of the week maybe would have made some pips, I don't know BUT consider this. I was asleep in bed without a care in the world dreaming about what I was going to do to this hooker later in the week. Monday morning was messy. {image} {image} As you can see I'm just showing 2 TF...Ignored
DislikedWith this method do you end up in a trade every week? Are you watching multiple pairs and the first one the gives up the ghost and shows u what you want to see, are u just taking that single trade? Are you letting the magic 6h bars guide you ie. if price engulfs against you are u getting out, or are u waiting to see a bar close over the open to get in a trade? Or is it just to remind u check in every 6h and see how things are. These questions are just for experimentation on the charts.Ignored
Disliked{quote} I can see you're on the same wavelength as me. You FILTHY barstardIgnored
Dislikedof course it's dumb luck. How you manage your trade isn't though. As long as you have the stats on your side and a logical reason to enter rather than tea leaves, you will remain consistent in your application. Whether the ensuing win or loss is large or small is down to how much the market moves, and your reason for entering has no bearing on this whatsoever, and how you react to that movement. The alternative is unquantifiable and random. Just remember what some dead bloke said 'for any edge the ongoing results will be random', paraphrasing. I.e...Ignored
Dislikedunless you do the work and look at some frequency distributions you won't know will you?? I.e. If long above the open what's the lower wick range? But yes, generally speaking my get out is around 50 pips usually, but depending on how price moves I'll often tighten to 25. And yes you're right sometimes I break my own rules and stick that 50 pips within the range. I think this week on Euro I did just that.Ignored
Disliked1.Trading h1 your costs will not tend towards 0 2. Price requires time to move and you're not giving it any. 3. Short term moves and the news will slaughter you. 4. R:R on a per trade basis is irrelevant. You take what the market gives. 5. What gives good R:R ultimately is running winners and cutting losers, it's as simple and as complicated as that.Ignored