Billytt Die happy trading e/j daily breakout

Quoting lemercenaire

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{quote} Hi slowbrain. In my head, I do not think of any move as having failed, instead I look at it as just another move. A small psychological point but important. I'm just as happy trading inside the candle as taking a breakout. Anyway, as you've seen, I box the zone from the Trigger Candle's H to L. I then add a Mid-Line. If once the Trigger Candle closes and either breaks and does not make my tp (+5) or doesn't break at all and price drops back inside the range and it continues to drop, I will counter-trade the cross of the mid-line. If it then...

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Quoting turnip15

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Hello chaps. CAD one hour ( 7 am) - don't forget the "Lem" trade ( dead zone) at 12 noon to 1 pm UK time and see how it goes. and Cable four hour ( 4 am) And especially for young William - the hourly Dax break ( 7 am Bar) Have a gay day William :-) {image} {image} {image}

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Quoting turnip15

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{quote} So, to start again, candle closes and this time price is below the mid-line and moves down into the lower Wick-Zone, then turns back up and leaves that zone. I will enter long as it leaves the zone. So you see, you can play that candle and then the following zone all day long if you need to The bit in RED (above,) is an excellent summary

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Quoting lemercenaire

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{quote} Hi slowbrain. In my head, I do not think of any move asto High and Open to Low...ie the wicks (or tails as some call them). A statistically significant percentage close them out. There's always another day. Be brutal with your stops. Do not hesitate to close a losing position - don't be tempted to let it run ''just in case''. There will always be another trade and you can enter again. Stick with the pairs I run here, as they are the best suited to the method. I look at them in the order I post. As time goes on and more data goes into the...

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Quoting turnip15

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{quote} This is an important psychological point, I think. The chances of a trade going five points in your favour is a lot higher than those that go 30+ in your favour.Plus, the mental strain involved in watching and hoping for something to go 30 points etc is a lot higher than waiting correct and well posted, 04-00 break is 88% strike rate at last look. Counter and you get 100% but it does need to be worked at. and yes watching charts when in a bad trade is bad for the nerves.

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Quoting billytt

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{quote} good work... Some people say oooooooooo only +5... using a small lot will not make you rich but it mounts up... Try making + 5 using 10 per point then 100 .. (post aimed at 3rd persons not you SB).

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Quoting billytt

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{quote} Counter means open double size on opposite trigger ?

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Quoting slowbrain

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{quote} Lemercenaire i understand that you open in this example 3 positions 1 long 2 shorts. do you close the long with loss ? if yes nornally the candle range is 15 to 20 pips what will be your SL size ? cheers SB

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Quoting turnip15

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Lems Dead Zone CAD ( 12 noon to 1 pm UK) look at the wick action as described by Lem above - interesting phenomenon n'est pas ? Edit: I didn't put in the midline of the hourly price 12 noon to 1 pm bar. {image}

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Quoting lemercenaire

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{quote} Excellent - so I would go short out of the Top Wick-Zone (actually having checked my charts, there was a breakout North - just - that turned immediately, so would have been a counter out of the bottom of the Wick-Zone) and add-in at the Mid-Line (though in this case, there really isn't but you get what I mean) and then again at the break. That first H1 candle would have covered you just fine. It would have got a bit hectic later on of you had decided to go in again and you'd have been jumping in-and-out...

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