Disliked{quote} So with that risk:reward they are like 75% effective by playing odds when the ratio is in their favor.Ignored
Not sure I understand.. why 75%?
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Disliked{quote} So with that risk:reward they are like 75% effective by playing odds when the ratio is in their favor.Ignored
DislikedWhat i do observed is when price attempted too many times on those support or ressistance, its getting weaker. Below are the charts : {image} {image} When price in a rally mode, the best entry is wait for a pullback. {image}Ignored
Disliked{quote} Indicator just for drawing but it need to draw manually..sometimes im not using it. Here's again when so many attempt on the support : {image}Ignored
Disliked1. look at higher time frames 2. look at Dollar index if your trading a usd pair. 3. look at correlations with other markets.. Such as Dow, SPX, Dax, Oil, Gold, copper, hong kong, japan stocks 4. Time of day.. Asia pretty weak.. London a little stronger... USA/London overlap Very powerful can break levels easy 5. Data releases can break levels 6. Structure of the market above and below the S/R 7. Make sure your drawing s/r correctly 8. Is it the first retest of S/R or 2nd or 3rd.. Each retest level gets weaker.. Best is always first retest. 9. Quick...Ignored
DislikedS/R doesnt work because it relies on a specific line values, the market isnt perfect. Zones are better in my opinion. Your obviously having high leverage trades if your getting burned ( I know been there done that). Trading breaks/reversals, requires you to remember that 5 things can happen when price comes into these zones Breaks Reverses Breaks-Fakeout-Reverses Reverses - Fakeout- Breakout Hovers. At the same time understand the bigger picture, is the market in a downtrend/uptrend on the higher time frames ? Use Elliott wave count helps to determine...Ignored
Disliked{quote} That's what I say to myself everyday. But of course, when I see something that looks like a reversal, I can't help it. I'll have to get in.Ignored
Disliked{quote} Do you trade reversals only or you wait for confirmation patterns to form? I mostly wait for confirmations. If a trend looks weak, I'll get ready for a reversal, with fingers crossed 5 Trades today on AUDJPY. {image}Ignored
Disliked{quote} Yes I know the feeling, It is called greed. I used to trade like that, didn't have much luck. Some winners some losers overall didn't lose money but I also didn't make a lot of money. After I took more conservative way, my profit become bigger and I can tell you I feel much safer trading like that. Every day when I sit in front of my computer I tell myself: " trade with a trend, trade with a flow"Ignored
DislikedMarkets were crazy today. Trading on 5m charts is not easy. Lolz. #almostdied {image}Ignored
DislikedThese are some of my rules for trading. 1) The trend is NOT my friend. I only trade reversals(contrarian). Even when my prediction is wrong,the market generally gives me a way to get out quickly and cutting my loses short. I found out that when I started trading, 90% of my loses were because of "trend following" trades.Ignored
DislikedGoofy question. Why not just trade the market that occurs? You cannot "predict" anything, but you can follow it very easily. If you are trading line breaks, WOW, good luck with that!!Ignored