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More simple is impossible

  • #4,521
  • Dec 21, 2015 3:47am Dec 21, 2015 3:47am
Quoting simpleguy
{quote} I"m far from being a guru but I just use R:R as a guide. It just doesn't make sense to risk 10 for an easier 5 does it? So if something doesn't make sense to me I wait for the next trade that is right around the corner that does make sense to me.
Depends how high your hit rate is.
  • #4,522
  • Edited 4:23am Dec 21, 2015 3:56am | Edited 4:23am
eurgbp short opp
1H
edit:BE hit
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nescentia necat
  • #4,523
  • Dec 21, 2015 4:24am Dec 21, 2015 4:24am
Quoting Jaquemate
Another perspective {image}
Hey can you help i will like you to post a template with that small arrow or is it just for illustration?
  • #4,524
  • Dec 21, 2015 5:33am Dec 21, 2015 5:33am
Hi everyone,

I have done 5 trades today, so far, and would appreciate some feedback if possible.

All trades were taken off the Renko 3 chart and my reasoning for taking the trades are as follows:

Trade 1 (+9.8p) – BPC off the BRN; the Renko 1 showed it more clearly.
Trade 2 (+0.0p) – BO of the previous swing low ie a 123 late entry. Exit at BE as I thought a 123 against my trade was forming.
Trade 3 (-6.2p) – Pre-empting a double bottom. Early exit as I thought that price was forming a swing high and getting ready for a new leg down.
Trade 4 (+10.0p) – Double Bottom at BRN with MACD Divergence.
Trade 5 (+10.0) – Preempting a small 123 formation; price moved against my position to form a more pronounced 123.

I do have the impression that I am going to be told that I do preempt too much.

Please be ruthless with your feedback.

Thank-you kindly.
Attached Image (click to enlarge)
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  • #4,525
  • Dec 21, 2015 6:41am Dec 21, 2015 6:41am
Quoting Ic555
Hi everyone, I have done 5 trades today, so far, and would appreciate some feedback if possible. All trades were taken off the Renko 3 chart and my reasoning for taking the trades are as follows: Trade 1 (+9.8p) BPC off the BRN; the Renko 1 showed it more clearly. Trade 2 (+0.0p) BO of the previous swing low ie a 123 late entry. Exit at BE as I thought a 123 against my trade was forming. Trade 3 (-6.2p) Pre-empting a double bottom. Early exit as I thought that price was forming a swing high and getting ready for a new leg down. Trade 4 (+10.0p)...
Were you using fix SLs?
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,526
  • Dec 21, 2015 7:13am Dec 21, 2015 7:13am
Quoting BBalazs
{quote} Were you using fix SLs?
When I enter a trade, I set my SL to 10 pips. But if I see price struggling to move my way decisively, I will try to get out at a smaller loss or BE if possible.
  • #4,527
  • Dec 21, 2015 7:21am Dec 21, 2015 7:21am
Quoting Ic555
{quote} When I enter a trade, I set my SL to 10 pips. But if I see price struggling to move my way decisively, I will try to get out at a smaller loss or BE if possible.
Thank you for your answer. Seems like you are working with an initial 1:1 R:R, which is really good IMO, considering you are scalping.

Regards
Balazs
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,528
  • Dec 21, 2015 9:15am Dec 21, 2015 9:15am
Quoting Slingshots1
{quote} Hey can you help i will like you to post a template with that small arrow or is it just for illustration?
DEJAVU!! You asked the same question April 22 2015
http://www.forexfactory.com/showthre...51#post8221851

And you get the same answer April 22 2015
http://www.forexfactory.com/showthre...57#post8222257
Cut your Losers short and let your Winners run.
  • #4,529
  • Dec 21, 2015 10:16am Dec 21, 2015 10:16am
Ger30+170+32+66+20+2+10+53. I am finished with Scalping as the main source of trades I have gone back to trading properly with scalps merely being used as quick pip grabbers.

You have seen what is possible from both sides of the fence, I am sure that Phili and Matomi and the other expert scalpers will still offer advice to those of you that see scalping as your road to riches, I personally, "Have been there done that" I have imparted what advice I can about Scalping and now I will return to trading the longer runs which is what I have spent the last 5 years perfecting.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #4,530
  • Edited 10:41am Dec 21, 2015 10:28am | Edited 10:41am
Quoting dee50
Ger30+170+32+66+20+2+10+53. I am finished with Scalping as the main source of trades I have gone back to trading properly with scalps merely being used as quick pip grabbers. You have seen what is possible from both sides of the fence, I am sure that Phili and Matomi and the other expert scalpers will still offer advice to those of you that see scalping as your road to riches, I personally, "Have been there done that" I have imparted what advice I can about Scalping and now I will return to trading the longer runs which is what I have spent the...
Attached Image



btw awesome result!

niiice dax move
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nescentia necat
  • #4,531
  • Dec 21, 2015 10:42am Dec 21, 2015 10:42am
Quoting dee50
Ger30+170+32+66+20+2+10+53. I am finished with Scalping as the main source of trades I have gone back to trading properly with scalps merely being used as quick pip grabbers. You have seen what is possible from both sides of the fence, I am sure that Phili and Matomi and the other expert scalpers will still offer advice to those of you that see scalping as your road to riches, I personally, "Have been there done that" I have imparted what advice I can about Scalping and now I will return to trading the longer runs which is what I have spent the...
After reading through your PDFs twice, staring at the charts all day long, comparing your entries to mine at the end of the session, I am starting to feel that I have a grasp on basic PA and the proper use of indicators thanks to you, friska & Philippine. You guys are a true source of inspiration and great traders. Please keep doing what you doing & posting your charts. Thank you.

Regards
Balazs
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,532
  • Dec 21, 2015 12:09pm Dec 21, 2015 12:09pm
Denis you wanted this ADR indi which is on my H4 chart.
Attached File(s)
File Type: mq4 xADR_0.2renko.mq4   4 KB | 445 downloads
Cut your Losers short and let your Winners run.
  • #4,533
  • Dec 21, 2015 12:10pm Dec 21, 2015 12:10pm
Quoting dee50
Denis you wanted this ADR indi which is on my H4 chart. {file}
Yes. Thank you for posting it!
  • #4,534
  • Dec 21, 2015 12:40pm Dec 21, 2015 12:40pm
Quoting dee50
Ger30+170+32+66+20+2+10+53. I am finished with Scalping as the main source of trades I have gone back to trading properly with scalps merely being used as quick pip grabbers. You have seen what is possible from both sides of the fence, I am sure that Phili and Matomi and the other expert scalpers will still offer advice to those of you that see scalping as your road to riches, I personally, "Have been there done that" I have imparted what advice I can about Scalping and now I will return to trading the longer runs which is what I have spent the...

excellent trading dee.. This is called trading for the long haul.
1st trade deviation and sto oversold ---right???
2nd trade ...did you take this trade becos of the stoch
3rd trade ...deviation ..why did you not take it immediately...???
  • #4,535
  • Dec 21, 2015 1:20pm Dec 21, 2015 1:20pm
Quoting bettervolume
{quote} excellent trading dee.. This is called trading for the long haul. 1st trade deviation and sto oversold ---right??? 2nd trade ...did you take this trade becos of the stoch 3rd trade ...deviation ..why did you not take it immediately...???
There is more happening on the chart than you are seeing!! The problem with scalping is that you can develop MACRO EYE, you can see individual Pixels on your monitor but you can not see the whole monitor.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Trade 3.png Size: 74 KB
Cut your Losers short and let your Winners run.
  • #4,536
  • Dec 21, 2015 1:57pm Dec 21, 2015 1:57pm
Quoting dee50
{quote}There is more happening on the chart than you are seeing!! The problem with scalping is that you can develop MACRO EYE, you can see individual Pixels on your monitor but you can not see the whole monitor. {image} {image}
That is indeed the problem...and the challenge
  • #4,537
  • Dec 21, 2015 2:02pm Dec 21, 2015 2:02pm
No trading for me the next couple weeks....am off on a motorcycle jaunt around Mindanao...will check in here a bit so keep up the good work......
  • #4,538
  • Dec 21, 2015 2:07pm Dec 21, 2015 2:07pm
Well, I was following this thread in its first weeks of its creation. I stopped it as it it was more focusing in scalping other than aiming for the big pips.

Dee, it is a good news to my trading personality that you are now more into longer trades other than scalping. I'm really amaze on the level of accuracy you have developed, and the so short SL you have. I'm now going to follow this thread in a frequent basis, as I'm determined to become profitable in this 2016 after about 5 yrs of learning and screwing up. I now have a much broader view of FX, and I can tell you that I feel more comfortable trading H1 - H4 in D1 areas. So, if I can learn your entry strategy to keep my SL tight, this would be just awesome.

I also wonder if you are only trading DAX and why?

Again, I'm determined to turn to the profitable side this 2016. It is something I have to do as difficult times will come.

Many thanks for your time and willingness to help others Dee. That is priceless.

My best wishes to all in this season, and the very best (health, success, love) in the incoming year.






Quoting dee50
{quote}There is more happening on the chart than you are seeing!! The problem with scalping is that you can develop MACRO EYE, you can see individual Pixels on your monitor but you can not see the whole monitor. {image} {image}
  • #4,539
  • Dec 21, 2015 2:54pm Dec 21, 2015 2:54pm
Quoting dee50
{quote}There is more happening on the chart than you are seeing!! The problem with scalping is that you can develop MACRO EYE, you can see individual Pixels on your monitor but you can not see the whole monitor. {image} {image}
Hi Dee,

One of the things that amazes me about your type of trading are your clean entries.

I have attached a renko 5 chart showing where you took a trade and where I would have taken the trade if I had been in front of the monitor.

Your trade suffered minimal drawdown while mine suffered 10 pip drawdown twice which would have cause me to, at best, close the position at BE.

My question is, what made you take the trade where you took it and not earlier?
Attached Image (click to enlarge)
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  • #4,540
  • Dec 21, 2015 3:20pm Dec 21, 2015 3:20pm
Quoting cfabian
Well, I was following this thread in its first weeks of its creation. I stopped it as it it was more focusing in scalping other than aiming for the big pips. Dee, it is a good news to my trading personality that you are now more into longer trades other than scalping. I'm really amaze on the level of accuracy you have developed, and the so short SL you have. I'm now going to follow this thread in a frequent basis, as I'm determined to become profitable in this 2016 after about 5 yrs of learning and screwing up. I now have a much broader view of...
EU has an ADR of about 100 pips I traded it exclusively for years until I discovered The DAX, an ADR of 200+ pips, so I can make twice the amount of pips in the same time.
Cut your Losers short and let your Winners run.
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