As simple as possible: 00 level trading

Strong USD / weak AUD

Have any of you had issues with the CSM Giaria like Snail uses? My broker uses a i suffix I have tried everything I can think of to get it to work including changing the code to include the suffix.

Neo, I have also i suffix. It should be Giraya with suffix indy attached in the up right corner. :nerd:

I look at chart structure (zoomed in and out, S+R, pivot points, candlestick patterns, likely zones where price will congest/reverse or bounce) to form an expectation of the likely path that price might take.

I treat every trade as unique since no 2 trades are truly identical and there will always be some form of variation.

If the chart structure presents well then I do take trades off the immediate start of the hour (ie a pending order etc just before the turn of the new hour) however, many times I prefer to wait to enter a trade if there is sufficient doubt about the trade setup and especially in cases where I simply just want to see more price action from the start of the hour such that more information is available to make a better informed decision.

As for the GU trade the structure left of my entry (rather prior to the hour in which I took the trade) shows me clearly that a reversal is likely and very possible (the depth of the retracement is unknown of course until after it happens) due to a simple ABCD pattern and that's why I waited to see where the market would take the price.

It turns out that the retracement was shallow however greater than 10 pips so an entry on the hour would have resulted in as you say a SL or at best a BE, this is true.

The general direction of GU is to the downside, mini pullbacks and then continuations are expected and the entry I took was also not without some risk since a mini support level had formed on the 200 level (look slightly left and note the 2 candles red then green at the start of the hour).

My entry considered this risk but the momentum of the bearish candle driving down was enough for me to make the trade considering all factors and even then you notice that price still went 6 or so pips into DD on that trade!

The idea is to form the very best expectation of where price is headed based on all the trading factors you can think of, this is what puts the probability on your side.

Don't think that you will win every trade (especially early on in your experience) as this takes many hundreds of hours of chart time to get right and even then a loser trade will come along every so often just to put you back in your place.

What I can say though is that the more of the right type of experience (chart time, market dynamics, charting patterns, session patterns, candlestick patterns etc etc) you get the greater the trader you are likely to be.

Good trading,

Masterrmind........... :nerd:

Thank you Masterrmind. Your explanations are always highly educational

Thanks VinceHS........

The problem of course is that a rather lengthy post would be required for almost every trade since not all are the same setup.

At least I can assume that there is some value in what I post and that's my main agenda here.

Have a great festive season mate and all the very best for the new year....

Note: I'll still be trading of course but probably in an even more selective manner........

Masterrmind...........

Can not attach this indicator - forex strenght meter to chart at all. What might be the problem ? It does not open at all.

EURJPY (M15) +50.4pips.



Trade Ideas:

1. 5ema the trigger.
2. Sync in pair.
3. strength.
4. Momentum.



Happy trading,
Yomi.

30 minutes of work

Snail what do you mean by "suffix indi"?

Attached...

Amazing! I thought I had went through all the attachments from this thread but I must have missed it. Thanks Snail!

Nice results, but it seems like you're starting every day with a new account, right? How come the previous day's statistics don't show the next day?
Demo right?

Question i myself wondered actually.

Bravo again Robinho! Show the chart please too.

Stay positive, Multimillion

Very simple, one just selects "today" history for calculations...:nerd:

Sure, but why would someone who is showing pips + dollars and expressing a "30 minutes work" superstar attitude in public would refrain from showing the whole week's performance that would indeed show an even more amazing ego-inflating overall performance ? losses messing up the stats maybe ???

Thank you Masterrmind, your posts are always informative & educative. Indeed, Experience really is the difference btw winning & losing traders. I do need a lot of chart time before having a price structure sense like you do.

Thanks again and wish you a merry christmas

please i need mastermind to comment on this please....trying to trade like him

Hi everyone.

Due to many reasons i have not been as active on the thread as i was before, but hope that will change at the start of next year.

Just wanted to stop by and wish everyone a happy christmas and new year.

Asmodai