Something to keep in mind for tonight and upcoming days. Either way that's a good road map.
Attached Image (click to enlarge)
Hidden in plain sight.
- #6,002
- Mar 16, 2016 10:50am Mar 16, 2016 10:50am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
GER30+49+32+21. Compounded x10 = 1,020 pips. WOW!! I hear you say, but, is compounding expensive, if you lose, YES. It can be horrendous so only consider it if you can afford it, if I take 10 x 10 pip SLs (€1,000) in a day, I would be pissed but I would not be financially hurt. mind you, if I took 10 x 10 pip SLs in a day I should not be trading with real money, not unless I had also got 10 x 20 pip TPs then it would be acceptable.
There is a reason the brokers provide leverage and in most cases it is not for your benefit. There are exceptions, like "Phili" who is clearly physically Hard Wired directly into the exchange and receives RAW Data directly into his brain, bypassing the ECNs and the broker data feeds.
No, seriously, Leverage can work for you if you have the Method and the Confidence but if you don't have this then it can seriously damage you both financially and personally.
I am only pointing this out to you because I have become attached to you all and care for you deeply
There is a reason the brokers provide leverage and in most cases it is not for your benefit. There are exceptions, like "Phili" who is clearly physically Hard Wired directly into the exchange and receives RAW Data directly into his brain, bypassing the ECNs and the broker data feeds.
No, seriously, Leverage can work for you if you have the Method and the Confidence but if you don't have this then it can seriously damage you both financially and personally.
I am only pointing this out to you because I have become attached to you all and care for you deeply
Cut your Losers short and let your Winners run.
- #6,003
- Mar 16, 2016 11:01am Mar 16, 2016 11:01am
Nice one. But missed what ? You got pretty much all there was to take 
Missed the move up despite seeing the div, that's the downside of part time trading and not being on the screen all the time.
Missed the move up despite seeing the div, that's the downside of part time trading and not being on the screen all the time.
GER30+49+32+21. Compounded x10 = 1,020 pips. WOW!! I hear you say, but, is compounding expensive, if you lose, YES. It can be horrendous so only consider it if you can afford it, if I take 10 x 10 pip SLs (1,000) in a day, I would be pissed but I would not be financially hurt. mind you, if I took 10 x 10 pip SLs in a day I should not be trading with real money, not unless I had also got 10 x 20 pip TPs then it would be acceptable. There is a reason the brokers provide leverage and in most cases it is not for your benefit. There are exceptions, like...
Hidden in plain sight.
- #6,005
- Mar 16, 2016 11:39am Mar 16, 2016 11:39am
GER30+49+32+21. Compounded x10 = 1,020 pips. WOW!! I hear you say, but, is compounding expensive, if you lose, YES. It can be horrendous so only consider it if you can afford it, if I take 10 x 10 pip SLs (1,000) in a day, I would be pissed but I would not be financially hurt. mind you, if I took 10 x 10 pip SLs in a day I should not be trading with real money, not unless I had also got 10 x 20 pip TPs then it would be acceptable. There is a reason the brokers provide leverage and in most cases it is not for your benefit. There are exceptions, like...
alot more to learn from you guys.
- #6,006
- Mar 16, 2016 12:04pm Mar 16, 2016 12:04pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Took a buy on GU on the vertical line for +22 pips, not sure if it was a valid 1-2-3 trade. {image}
Cut your Losers short and let your Winners run.
- #6,007
- Mar 16, 2016 12:06pm Mar 16, 2016 12:06pm
{quote} 1. Divergence does not automatically mean that the market is going to reverse! 2. You were going CT with major S&R only 10 pips away, even less on your second short. There was a BRN 10,000 and the 50 EMA and a session 38.2% Fib creating a strong confluence area. 3. The first touch at the BRN gave Hidden Divergence (Trend continuation) so your second short was suicidal. This also created a rising Trendline. 4. There was a strong resistance area above, HTF 61.8% + BRN 10,050 which was a more obvious turning point for a CT trade 5. If you had...
- #6,008
- Mar 16, 2016 12:21pm Mar 16, 2016 12:21pm
{quote} Looks like all the bits were in the right place.
happy that i got it right. O yeah btw Dee wanted to clarify the difference in 5 pip renko on de30 , looks abit different on some parts. Will it be an issue since i would not be able to read some possible divergence?
- #6,009
- Mar 16, 2016 12:31pm Mar 16, 2016 12:31pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
{quote}
BTW change the settings on the stochs, change the fixed minimum to -10 and fixed maximum to 110, then add Levels, 20, 50 and 80 this will give you a clearer picture of what is happening, if you can live without the "Levels" no problem but definitely change the Fixed Min and Max.
Cut your Losers short and let your Winners run.
- #6,010
- Mar 16, 2016 12:38pm Mar 16, 2016 12:38pm
{quote} Sorry I should have said, that was an ordinary 5 min chart that I posted, but you did have divergence on your 5 pip chart look on the LH side of the last chart that you posted there is a cluster of 4 bars with 1 bar tail going below the 3 others, if you look at the MACD and Stochs both have Divergence. BTW change the settings on the stochs, change the fixed minimum to -10 and fixed maximum to 110, then add Levels, 20, 50 and 80 this will give you a clearer picture of what is happening, if you can live without the "Levels" no problem but...
- #6,011
- Mar 16, 2016 12:49pm Mar 16, 2016 12:49pm
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,721 Posts
Let it turn and find your entry.
- #6,012
- Edited 1:13pm Mar 16, 2016 12:50pm | Edited 1:13pm
- | Joined Feb 2015 | Status: Trader | 697 Posts
GER30+49+32+21. Compounded x10 = 1,020 pips. WOW!! I hear you say, but, is compounding expensive, if you lose, YES. It can be horrendous so only consider it if you can afford it, if I take 10 x 10 pip SLs (1,000) in a day, I would be pissed but I would not be financially hurt. mind you, if I took 10 x 10 pip SLs in a day I should not be trading with real money, not unless I had also got 10 x 20 pip TPs then it would be acceptable. There is a reason the brokers provide leverage and in most cases it is not for your benefit. There are exceptions, like...
1020 pips? Well, dinner wise, you can now afford two, maybe three wives and explore the wonderful world of polygamy. Epic trading, as usual Master Dee.
Edit - The area in the chart that you circled, i was watching it but got scared of by the divergences. If were trading that area, what would be the rationale for entries? Again, please pardon my ignorance.
- #6,017
- Edited 1:44pm Mar 16, 2016 1:33pm | Edited 1:44pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #6,019
- Mar 16, 2016 1:43pm Mar 16, 2016 1:43pm
- Joined Jul 2010 | Status: Retired | 3,621 Posts
DAX +39. Sold the 3p renko divergence in supply + BRN and chickened out at the small retracement to take profits. {image}
I only held for 2 pips more any longer and I would have given loads back.
Cut your Losers short and let your Winners run.
