Psych Levels, Pivots, and Trendlines - Resurrected

Quoting monocor

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I am buying BMW 550i xdrive M pack, they gave me a good deal. But mine will be black. Mercedes didn't give me a deal, it is mercedes we don't give deals. Bmw was super nice, when i mentioned that i think about mercedes, they gave a good deal right away. {image} {image} {image}

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Quoting Happy_Sniper

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Hi Monocor! A very inspirational thread indeed. I've started to trade 1m too as I find higher TF's difficult for my character. Always too many 2nd thoughts and hard to follow through swings etc. This works way better for me. I'm in profit (using very small lots) but not very consistent. Win rate maybe around 40% and lots of BE stop losses. One question, how many trades do you take daily? Approx. To find those winners. Cos' for me it takes a few. Thanks!

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Quoting monocor

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{quote} 15-20 trades a day. If you have 40% winners, apply money management and you all set, it is good enough to make money. Some times I have a lot of BE, and loosers too, Thursday I had 7 loosers in a roll, I was -70 pips, I had to trade all the way through the day 12 hours, by the end of day I closed +10. But friday was really nice, over 100 pips. To increase your win rate, I can recommend, watch higher time frame, lets say M5, and take trades only from key reversal levels. Drop your charts, with trades, and will see what is wrong.

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Quoting monocor

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Today is very slow, not much trading. Trade empowered stopped trading last week, and will be back next year, i think that was wise decision. But any way I have nothing to do, so I will trade this week ))))) {image}

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Quoting tnandkumar

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{quote} hai monocor, thanks for sharing very much impressive charts.... i tried to find out the rules of buy,sell ,stoploss,take profit , money management and currency pairs which need to be traded from the previous posts,but sorry i could not find them. can you please tell me the post no. where you have mentioned all these,i would be great help to me thanks in advance

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Quoting monocor

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{quote} 15-20 trades a day. If you have 40% winners, apply money management and you all set, it is good enough to make money. Some times I have a lot of BE, and loosers too, Thursday I had 7 loosers in a roll, I was -70 pips, I had to trade all the way through the day 12 hours, by the end of day I closed +10. But friday was really nice, over 100 pips. To increase your win rate, I can recommend, watch higher time frame, lets say M5, and take trades only from key reversal levels. Drop your charts, with trades, and will see what is wrong.

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Quoting Happy_Sniper

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{quote} Thanks for your reply. I don't really have an issue with losing trades as my mm is (has been) pretty solid and I'm up 30R in a month. Will start dropping charts when I have internalized this scalping a bit better. Just helps to know that behind those beautiful trades there is a bunch of BE's and losers too. And I don't think I can go back to higher timeframes anymore of course I pay attention to them too, but to trade, they seem soooo slow Thanks again!

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