Thats what we call a false breakout. :-) -10p Look at the trendline. Its still respected.
Attached Image (click to enlarge)
Psych Levels, Pivots, and Trendlines - Resurrected
Hey guys, it's a wonderful thread, and im doing practice all days. There is a lose trade i made today. whether i sold too early, or I shouldn't have sold it ? What will you guys do? {image}
Well maybe i can analyse your trade...hehe
Ok i see level at that point swing high, but do you draw a trendline or a channel? Tthen you get in too early cos the TL wasnt broken yet. Also i look for a retest. Because of false breakouts.. hahahaha.Look one post before..... I can tell you...
I like that. Lets try to analyse our mistakes. But remind a lost does not have to be a mistake.
I hope you can understand my english. Maybe there are some gramaticly mistakes somewhere.
- #12,084
- Edited 7:01am May 5, 2017 6:41am | Edited 7:01am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
Be smart and calm!
Make homework and you can see, that at higher TF EUR was at Top of Channel in M30
Hehe ... the ultimate tip to loose money is to ignore drawings from higher timeframe and jump around in M1, M5 without a clue whats going on.
I would like scalping if i am a broker and my crowd like to scalp ...
Make homework and you can see, that at higher TF EUR was at Top of Channel in M30
Hehe ... the ultimate tip to loose money is to ignore drawings from higher timeframe and jump around in M1, M5 without a clue whats going on.
I would like scalping if i am a broker and my crowd like to scalp ...
Perfection is the enemy of good enough!
R/R 2:1. I put my SL at 13Pips. The right decision because this "stop-fishing"-spikes....
- #12,086
- May 5, 2017 10:01am May 5, 2017 10:01am
Be smart and calm! Make homework and you can see, that at higher TF EUR was at Top of Channel in M30 {image} Hehe ... the ultimate tip to loose money is to ignore drawings from higher timeframe and jump around in M1, M5 without a clue whats going on.
but in some way you are right..Do not forget the bigger picture..
[quote=stechi;9832604]{quote} Hey man.Nice to see your trade. You are right i love this thread too. I learnend a lot so far. Well maybe i can analyse your trade...hehe Ok i see level at that point swing high, but do you draw a trendline or a channel? Tthen you get in too early cos the TL wasnt broken yet. Also i look for a retest. Because of false breakouts.. hahahaha.Look one post before..... I can tell you...
Thanks for your comment. Yes you're right, waiting until the trend line break will be better.I think I need more patient, and keep watching 15M TF, entry the trade by 1M/5M.And I like your hard work, keep going together
Ok i see level at that point swing high, but do you draw a trendline or a channel? Tthen you get in too early cos the TL wasnt broken yet. Also i look for a retest. Because of false breakouts.. hahahaha.Look one post before..... I can tell you...Thanks for your comment. Yes you're right, waiting until the trend line break will be better.I think I need more patient, and keep watching 15M TF, entry the trade by 1M/5M.And I like your hard work, keep going together
I analysed my two trades EUR and USDJPY.
In backtesting everything looks so clearly but when you in the trade you get nervous sometimes
So in EUR i trade that breakout of TL. I saw that green candle closed above and thought : The breakout! The Breakout! BUY BUY BUY!
But as you can see i extended the TL and price comes back to test. So next theres a breakout. Keep calm! It comes back one time! (But what if not.....)
USD/JPY
I was lucky to get out. Price dropped hardly a little bit later.
As an exit signal i draw a TL. You can get out or look carefully what happens when TL is broken. I noticed that now, not in trade.
In the trade i just feel like : mmmmmmh no new high....okay. No. i can stand that. out! out!.. 20Pips bye bye
In backtesting everything looks so clearly but when you in the trade you get nervous sometimes
So in EUR i trade that breakout of TL. I saw that green candle closed above and thought : The breakout! The Breakout! BUY BUY BUY!
But as you can see i extended the TL and price comes back to test. So next theres a breakout. Keep calm! It comes back one time! (But what if not.....)
USD/JPY
I was lucky to get out. Price dropped hardly a little bit later.
As an exit signal i draw a TL. You can get out or look carefully what happens when TL is broken. I noticed that now, not in trade.
In the trade i just feel like : mmmmmmh no new high....okay. No. i can stand that. out! out!.. 20Pips bye bye
- #12,090
- May 6, 2017 4:03pm May 6, 2017 4:03pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Be smart and calm! Make homework and you can see, that at higher TF EUR was at Top of Channel in M30 {image} Hehe ... the ultimate tip to loose money is to ignore drawings from higher timeframe and jump around in M1, M5 without a clue whats going on.
Even though I walk through the darkest valley, I will fear no evil
- #12,091
- Edited 4:54pm May 6, 2017 4:08pm | Edited 4:54pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #12,092
- Edited 4:23pm May 6, 2017 4:10pm | Edited 4:23pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
I analysed my two trades EUR and USDJPY. In backtesting everything looks so clearly but when you in the trade you get nervous sometimes
and watch thouse levels, price is reacting to them, dont buy in to level
Even though I walk through the darkest valley, I will fear no evil
- #12,093
- May 6, 2017 4:32pm May 6, 2017 4:32pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #12,094
- May 7, 2017 5:54am May 7, 2017 5:54am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
Perfection is the enemy of good enough!
- #12,096
- May 7, 2017 11:24am May 7, 2017 11:24am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
Tomorrow will drop some charts from Friday, next week will be at least one chart a day, as usual m1 trades. Focus drop some charts too, what you been up lately ive been playing with binary options, demo only, builed up nice trading approach 95% win, but couldn't find a trader who wasnt scamed by binary broker, it is dissapointing
I'm here.. Trading the market as usual... Yea I heard binary options is a scam but I'm not sure.. 95% win rate sounds good though
- #12,100
- May 8, 2017 3:08am May 8, 2017 3:08am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil