Psych Levels, Pivots, and Trendlines - Resurrected | Page 576 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #11,501
  • Nov 4, 2016 5:55am Nov 4, 2016 5:55am
Market is really simple, don't over complicate it. Market is doing only 3 things, go in up trend, down trend, or ranging. And it has levels, and price can break the level, retrace or make false break out. And that is it. Everything else it is just a tools to pin point your entry, to have a nice risk reward.
The most common mistake of newbies, is that they looking for tools for the entry, and they skip the most important part. First analyse the market, trend and levels, after you see the whole picture, you start looking where you can get in.
Even though I walk through the darkest valley, I will fear no evil
  • #11,502
  • Nov 4, 2016 6:40am Nov 4, 2016 6:40am
This is a very good thread indeed and an eye-opener for me too ... for the moment I am trading this on demo for till the next month to test the waters but so far good results. I however use fixed stops and targets and move stop to be after either a lot of time has passed or I am almost at my target.
You are trading this on which pairs: I got eurusd / usdcad / gpbusd / eurjpy / usdjpy ... am I still missing out on something ?
  • #11,503
  • Nov 4, 2016 6:56am Nov 4, 2016 6:56am
Quoting cvds16
This is a very good thread indeed and an eye-opener for me too ... for the moment I am trading this on demo for till the next month to test the waters but so far good results. I however use fixed stops and targets and move stop to be after either a lot of time has passed or I am almost at my target. You are trading this on which pairs: I got eurusd / usdcad / gpbusd / eurjpy / usdjpy ... am I still missing out on something ?
If you trade M1, it takes time before you will get used to it. You have no time to think, it has to be fast, but trust me, after you get used to it, it takes 2 sec to see what is on your chart, if you go on higher time frame after M1, oh boy you getting bored, in couple seconds you see where you will take a trade, and you just sit and wait for that trade.

I trade majors, AU EU GU UC UJ, I like small spread
Even though I walk through the darkest valley, I will fear no evil
  • #11,504
  • Nov 4, 2016 6:59am Nov 4, 2016 6:59am
I didn't take it, but it is what I am was talking about. I didn't get engulfing at the top of the channel, if there was engulfing I would sell right away
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 93 KB
Even though I walk through the darkest valley, I will fear no evil
  • #11,505
  • Nov 4, 2016 7:06am Nov 4, 2016 7:06am
Quoting cvds16
This is a very good thread indeed and an eye-opener for me too ... for the moment I am trading this on demo for till the next month to test the waters but so far good results. I however use fixed stops and targets and move stop to be after either a lot of time has passed or I am almost at my target. You are trading this on which pairs: I got eurusd / usdcad / gpbusd / eurjpy / usdjpy ... am I still missing out on something ?
And welcome maniacs club !!! Scalpers is maniacs, there is not a lot of us, but we do good in this business, with good MM you can make 20-30% in a week easily.
Even though I walk through the darkest valley, I will fear no evil
  • #11,506
  • Nov 4, 2016 7:17am Nov 4, 2016 7:17am
and again no trade, no divrgence
Attached Image (click to enlarge)
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Even though I walk through the darkest valley, I will fear no evil
  • #11,507
  • Nov 4, 2016 7:26am Nov 4, 2016 7:26am
How many monitors do you use?
With God all things are possible.
  • #11,508
  • Nov 4, 2016 7:35am Nov 4, 2016 7:35am
Didn't trade it, NFP, but still good set up, double top on the top of the channel
Attached Image (click to enlarge)
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Even though I walk through the darkest valley, I will fear no evil
  • #11,509
  • Nov 4, 2016 7:40am Nov 4, 2016 7:40am
Quoting Dehyah
How many monitors do you use?
I trade with laptop, I don't use desk top, I like to be portable, I can go to the bar and trade there, or sit on the terrace. i have a desktop, with 3 21" monitors, and one 26" monitor, all together is 4 monitors, but I use it to play games.

Even with M1 charts, you have plenty of time to watch charts, The chart above, there was 10 minutes before you can pull the trigger, every trade takes at least 3 minutes to pull the trigger.
Even though I walk through the darkest valley, I will fear no evil
  • #11,510
  • Nov 4, 2016 7:49am Nov 4, 2016 7:49am
Quoting Dehyah
How many monitors do you use?
If you use the templates that monocor put at disposal you can easily put the five majors on one 23" screen at the same time in MT4 arranged so you can see them all at once with over the last two hours visible ...
  • #11,511
  • Nov 4, 2016 7:54am Nov 4, 2016 7:54am
Quoting cvds16
{quote} If you use the templates that monocor put at disposal you can easily put the five majors on one 23" screen at the same time in MT4 arranged so you can see them all at once with over the last two hours visible ...
Thats true !!!! Right now I am looking for laptop with VR set card, It is even better then a big screen. Buy a small laptop with VR, and thats it, all what we need today.
Even though I walk through the darkest valley, I will fear no evil
  • #11,512
  • Nov 4, 2016 7:58am Nov 4, 2016 7:58am
People spend carzy money, buying desktops for 5K, you need it only if you are gamer like me, if you just want to trade, don't waist money, buy a computer for $300, that is more then enough, if you want to have couple monitors, you can spend 200 more for video card.
Even though I walk through the darkest valley, I will fear no evil
  • #11,513
  • Nov 4, 2016 11:35am Nov 4, 2016 11:35am
curious to see your trades for today ... I had a hard time finding good ones today ... in the end took two trendline breaks ... both reached my target ...
two more questions: how much do you risk per trade as a percentage of your account ? and till how late do you take setups ?
  • #11,514
  • Edited 12:33pm Nov 4, 2016 12:18pm | Edited 12:33pm
Quoting cvds16
curious to see your trades for today ... I had a hard time finding good ones today ... in the end took two trendline breaks ... both reached my target ... two more questions: how much do you risk per trade as a percentage of your account ? and till how late do you take setups ?
I forgot to post trades, I took couple trades, for 18 pips in total. Today was NFP so I didn't want to trade at all, usually in this day I take the day off. I risk not more then 2 %, most of the time it is around 1%. I take trades until London will close, only bcz it fits in my time.
Even though I walk through the darkest valley, I will fear no evil
  • #11,515
  • Nov 4, 2016 12:24pm Nov 4, 2016 12:24pm
Have a nice weekend !!!!
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Even though I walk through the darkest valley, I will fear no evil
  • #11,516
  • Nov 4, 2016 12:32pm Nov 4, 2016 12:32pm
I saw 3 good trades that I would of took today.. I probably wont take the same trades as Monocor because we don't think the same.. But they are based on the same concepts, channels, triangles, support etc..
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  • #11,517
  • Nov 4, 2016 12:35pm Nov 4, 2016 12:35pm
Quoting focusonmoney
I saw 3 good trades that I would of took today.. I probably wont take the same trades as Monocor because we don't think the same.. But they are based on the same concepts, channels, triangles, support etc.. {image} {image} {image}
You copied my trades bro ))))))) GU and AU that was my trades!!!!! Good Job !!!! Keep it up

UJ chart was in post 11, 504 I didn't take it
Even though I walk through the darkest valley, I will fear no evil
  • #11,518
  • Nov 4, 2016 1:55pm Nov 4, 2016 1:55pm
Quoting monocor
{quote} You copied my trades bro ))))))) GU and AU that was my trades!!!!! Good Job !!!! Keep it up UJ chart was in post 11, 504 I didn't take it

Thank you for posting your charts.. You are right when you said "Market is really simple, don't over complicate it. Market is doing only 3 things, go in up trend, down trend, or ranging. And it has levels, and price can break the level, retrace or make false break out. And that is it. "

People need to read that over and over.. Have a great weekend!
  • #11,519
  • Edited 9:00am Nov 5, 2016 7:48am | Edited 9:00am
EDIT: deleted question since I found the answer myself ...
  • #11,520
  • Edited 2:46am Nov 7, 2016 2:35am | Edited 2:46am
still on demo for this month, took this trade: short gpbusd for 15 pips
Attached Image (click to enlarge)
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