[quote=PippyTheGrt;9084632]{quote}{quote} Thanks for the explanation Billy. I've been lurking here for a while and skimmed through the thread and now I've got a question related to your explanation above.
hello again, almost 02-00 here. Fri 12th was a double fail, (high fail, low fail,) then high good and before that was 18th July then 20th May (9 this year). If you have 2 fails I would recommend you close trade and wait for next day. I Don't . I don't trade every trade and I have a choice between A/U and Cable. It is easy to work out what I do and I will tell you part as I have told everyone else here.
1st you need a decent range on the 04-00 candle and preferably no news. if you hit a fail open another trade the opposite direction, you can then either then wait until next trigger or open another lot. You just need to keep the first loss in limbo . Next trigger can be high /low following day or high/low of the daily or an inside bar break.or a correlated pair entry. ANd a big bank roll to bully the trade. It works but you need the trigger?
hello again, almost 02-00 here. Fri 12th was a double fail, (high fail, low fail,) then high good and before that was 18th July then 20th May (9 this year). If you have 2 fails I would recommend you close trade and wait for next day. I Don't . I don't trade every trade and I have a choice between A/U and Cable. It is easy to work out what I do and I will tell you part as I have told everyone else here.
1st you need a decent range on the 04-00 candle and preferably no news. if you hit a fail open another trade the opposite direction, you can then either then wait until next trigger or open another lot. You just need to keep the first loss in limbo . Next trigger can be high /low following day or high/low of the daily or an inside bar break.or a correlated pair entry. ANd a big bank roll to bully the trade. It works but you need the trigger?
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.