Hey dancers, I wish you a profitable new week. Been practicing a lot in simulator. I noticed that GBPUSD UK time 8-12 is very unpredictable. I know some of it is because of the new, and market hours opening etc. Do you guys trade at this time??? I find it very hard. Following the dance rules, I get quite good win rate afternoon, but before that, its seems hit or miss.
I find myself doing well in Frankfurt open. Would say first 3 hours, and then after noon, few hours, havent figured it exactly out yet.
What I have learned is that, I do quite well in simulator. But in Real time, I´m having difficulties with patience and trust issues
. In Simulator, with increased speed, it feels like cheating, it is so easy.
I have been practicing GPBUSD and EURJPY. Strange thing is that I´m having a bit hard time in GPBUSD, and in EURJPN Im absolutely killing it. The signs are so clear.
Maybe it is wrong, but I have decided to stop practicing in simulator, and try get comfortable in demo, because right now it seems to me, that I can use The Dance rules reasonably well, but I have many problems controlling myself, that dont come out in simulator (using higher speed). If I can get used to demo, I feel I can actually be successful.
What I have learned is that, I do quite well in simulator. But in Real time, I´m having difficulties with patience and trust issues
. In Simulator, with increased speed, it feels like cheating, it is so easy.I have been practicing GPBUSD and EURJPY. Strange thing is that I´m having a bit hard time in GPBUSD, and in EURJPN Im absolutely killing it. The signs are so clear.
Maybe it is wrong, but I have decided to stop practicing in simulator, and try get comfortable in demo, because right now it seems to me, that I can use The Dance rules reasonably well, but I have many problems controlling myself, that dont come out in simulator (using higher speed). If I can get used to demo, I feel I can actually be successful.
I find myself doing well in Frankfurt open. Would say first 3 hours, and then after noon, few hours, havent figured it exactly out yet. What I have learned is that, I do quite well in simulator. But in Real time, Im having difficulties with patience and trust issues
thinking outside the box
- #12,993
- Edited 4:53am Feb 21, 2017 4:36am | Edited 4:53am
- | Joined Oct 2016 | Status: Trader | 346 Posts
Took a doji. Was to greedy, wanted to get 10 pips, but ended up with -1 pip (adjusted mu SL after first bar, should have taken my profit there). It only went 9 pips
thinking outside the box
Took nice 24 pips. I wasnt 100% sure where the price will go, that is why I dont call it constrainement. Basically the price was hesitant, and I was waiting for it to show me, where it decides to go. As soon as I saw the movement I entered. There is a Doji, but it was counter trend, so cant call it a Dance rule. Maybe should have entered earlier, because of the Doji, but I dont feel comfortable trading counter trend. So I felt that I needed more proof, and the price movement was all I needed.
There are also double tops, that might be a good indicator.
There are also double tops, that might be a good indicator.
Hello dancers, as you know I trade the choros method using the m5 timeframe bounces from 12ema and 23ema, however I get very very mixed results, that brings me to the conclusion that something is missing in my understanding of this approach, overall I'm not profitable at all, breakeven at best.
I hope someone more experienced in this way of approaching this magnificent methodology could shed some light in the following questions that I couldn't find clearly answered in the thread, so without further delay here they go:
1) When contemplating trading bounces from the m5 12/23 I should FIRST wait for the m15 35/50 to develop a decent angle?
2) Should I take only the first bounce on each? Or should I keep taking them until they burn me? This confuses me in regards to the "first touch rules".
3) The m5 12/23 bounces respect an order? example, take the 12 them only the 23? or is ok to take the 12 them 23 and if I get a rejection on the 12 again I take it anyways?
4) When do I reset the 12/23 bounce count? When price goes to the other side of the m5 50ma?
I know its a lot of questions, but I feel they are the ones holding back my consistency. And I think everyone could benefit from the answers since they will clear a lot of grey areas, at least for me
Best regards
I hope someone more experienced in this way of approaching this magnificent methodology could shed some light in the following questions that I couldn't find clearly answered in the thread, so without further delay here they go:
1) When contemplating trading bounces from the m5 12/23 I should FIRST wait for the m15 35/50 to develop a decent angle?
2) Should I take only the first bounce on each? Or should I keep taking them until they burn me? This confuses me in regards to the "first touch rules".
3) The m5 12/23 bounces respect an order? example, take the 12 them only the 23? or is ok to take the 12 them 23 and if I get a rejection on the 12 again I take it anyways?
4) When do I reset the 12/23 bounce count? When price goes to the other side of the m5 50ma?
I know its a lot of questions, but I feel they are the ones holding back my consistency. And I think everyone could benefit from the answers since they will clear a lot of grey areas, at least for me
Best regards
thinking outside the box
- #12,997
- Feb 25, 2017 5:14am Feb 25, 2017 5:14am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #12,999
- Feb 27, 2017 1:53am Feb 27, 2017 1:53am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
{quote} 1) Yes 2) Yes on the first bounce only (sometimes for 23 the second is also strong). If the first 12 is not good I do not take the 23. 3) only 2 trades, take the 12 then the 23 then stop 4) Do not know what is the best reset. In general, keep in mind that the M5 trades are not as solid as higher timeframes. The advantage is that you can trade even on flat days and with small SL (but also small TP).
thinking outside the box