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My Line in the Sand

  • #201
  • Oct 12, 2016 9:46pm Oct 12, 2016 9:46pm
GBP/JPY Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Oct 16 GBP:JPY M5 Observations.png Size: 134 KB
  • #202
  • Oct 13, 2016 3:39am Oct 13, 2016 3:39am
mostly broker have high spread on cross pair can u mention any broker which have Los spread on cross pair.
  • #203
  • Oct 15, 2016 2:30am Oct 15, 2016 2:30am
Quoting tradeinlaw
mostly broker have high spread on cross pair can u mention any broker which have Los spread on cross pair.
Hi Tradeinlaw,

An ECN Broker is essential.
  • #204
  • Oct 15, 2016 2:40am Oct 15, 2016 2:40am
GBP/JPY M5 Observations

I've said it before and I'll keep saying it "The Market is Fractal by Nature".

What this means is we see the same things occurring on all TFs.

As we go up the TFs the Scale of the Fractal Increase so it takes much more "time" for what we are seeing to play out.

I Trade M5 now because my Exposure to the Market ("time") has decreased dramatically but I am Trading exactly the same setups as I would be Trading on D1.



Attached Image (click to enlarge)
Click to Enlarge Name: 15th Oct 16 GBP:JPY M5 Observations.png Size: 180 KB
  • #205
  • Oct 16, 2016 9:07am Oct 16, 2016 9:07am
GBP/JPY H1 Observations

We could see a drop down into a Level of Buying (Demand) before a push up to new levels of Selling (Supply)

If enough Levels of Selling get Consumed on the way Down it removes the obstacles for the return journey

It all depends on the amount of Buying still in the Market at the levels marked on the Chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: 16th Oct 16 GBP:JPY H1 Observations.png Size: 198 KB
  • #206
  • Oct 16, 2016 10:56pm Oct 16, 2016 10:56pm
GBP/JPY M5 Long Trade

The Market has hit a Level where Buyers are greater than Sellers.

Are there enough Buyers to push the Market to my Target?

That's always a judgement call.
Attached Image (click to enlarge)
Click to Enlarge Name: 17th oct GBP:JPY M5 Long Trade.png Size: 109 KB
  • #207
  • Oct 16, 2016 11:16pm Oct 16, 2016 11:16pm
Quoting stevepatt
GBP/JPY M5 Long Trade The Market has hit a Level where Buyers are greater than Sellers. Are there enough Buyers to push the Market to my Target? That's always a judgement call. {image}

Moved Stop to BE +1
  • #208
  • Oct 16, 2016 11:52pm Oct 16, 2016 11:52pm
Quoting stevepatt
GBP/JPY M5 Long Trade The Market has hit a Level where Buyers are greater than Sellers. Are there enough Buyers to push the Market to my Target? That's always a judgement call. {image}
GBP/JPY M5 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Oct 16 GBP:JPY M5 Observations.png Size: 118 KB
  • #209
  • Edited 9:27am Oct 17, 2016 9:16am | Edited 9:27am
Quoting stevepatt
GBP/JPY M5 Long Trade The Market has hit a Level where Buyers are greater than Sellers. Are there enough Buyers to push the Market to my Target? That's always a judgement call. {image}

GBP/JPY M5 Long Trade Result

+2R +30 Pips +4%

Draw Down = 3.6 Pips

"Time" Exposure 85 Minutes.
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Oct 16 GBP:JPY M5 Result of Long Trade.png Size: 157 KB
  • #210
  • Oct 17, 2016 9:31am Oct 17, 2016 9:31am
GBP/JPY M5 Short Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Oct 16 GBP:JPY M5 Short Trade.png Size: 103 KB
  • #211
  • Oct 17, 2016 10:51am Oct 17, 2016 10:51am
Quoting stevepatt
{quote} GBP/JPY M5 Observations {image}
how come you dont enter at this level with a buy limit ? ..are you waiting for candle confirmation ?
  • #212
  • Oct 17, 2016 12:13pm Oct 17, 2016 12:13pm
Quoting price777999
{quote} how come you dont enter at this level with a buy limit ? ..are you waiting for candle confirmation ?

Hi Price,

I wasn't sure where the Bulls where going to show their hand so, in this case, it was the Bullish Candle before my Entry that I saw Bullish Intent.

I would rather enter with a Market Order, at most times, because I like to see how the Market approaches (PA) a particular Level.
  • #213
  • Oct 17, 2016 12:28pm Oct 17, 2016 12:28pm
When you ging full time trader ? ..I'm hoping to strart up again soon ..

I don't even find time to look at daily charts when i'm working .
  • #214
  • Oct 17, 2016 1:13pm Oct 17, 2016 1:13pm
Quoting price777999
When you ging full time trader ? ..I'm hoping to strart up again soon .. I don't even find time to look at daily charts when i'm working .

Hi Price,

I think it would drive me crazy to just Trade full-time.

There is no other purpose to Trading other than to make money.

I Trade because I enjoy the process of Trading and want to be as good a Trader as I can be and hopefully money will be a byproduct of that.

But that isn't enough for me, I enjoy my day job, renovating old properties, because I get a great deal of satisfaction from doing that.

At the end of the day, week, month, year I can physically see what I have achieved.

I enjoy the combination of the two things, I do, because they compliment each other.
  • #215
  • Oct 17, 2016 2:21pm Oct 17, 2016 2:21pm
steve

in post 205

do you have the indicator that put the price levels up the right hand side of the chart
giving you the levels of even number 20s and 80s etc

ive emailed you but no reply yet

cheers
jason
  • #216
  • Oct 17, 2016 2:41pm Oct 17, 2016 2:41pm
Quoting devontrader
steve in post 205 do you have the indicator that put the price levels up the right hand side of the chart giving you the levels of even number 20s and 80s etc ive emailed you but no reply yet cheers jason

Hi Jason,

It's the BN Levels v1.01 indicator you can find it here Post #3
  • #217
  • Oct 17, 2016 9:01pm Oct 17, 2016 9:01pm
Steve could you please explain fractal movement and take some example please?
  • #218
  • Oct 17, 2016 11:01pm Oct 17, 2016 11:01pm
Quoting alsu
Steve could you please explain fractal movement and take some example please?

Hi Alsu,

Fractal means repeating patterns that repeat on different scales.

So I would be looking for exactly the same patterns on D1 as I am on M5.

The Scale is greatly reduced when Trading M5 compared with D1.

By Trading M5 my exposure to the Market, both in terms of Pips and Time, is greatly reduced.
Attached Image (click to enlarge)
Click to Enlarge Name: 18th Oct 16 GBP:JPY D1 Observations.png Size: 133 KB
  • #219
  • Oct 18, 2016 7:58am Oct 18, 2016 7:58am
Quoting stevepatt
GBP/JPY M5 Short Trade {image}
Hi, great thread. Just a question on this trade, it did not hit your target (126.40) on my feed (tradestation). Did you close it manually?
  • #220
  • Oct 18, 2016 11:54am Oct 18, 2016 11:54am
Quoting alsu
Steve could you please explain fractal movement and take some example please?
Steve hope you dont mind

this video i think is valueable for lots to learn from about the market and candlesticks

it helps when looking at daily or 5mins charts

i think this may also help to answer what you were posting earlier too

the lesson starts around 7mins so skip forwards

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