Thank Doji i think i luv you lol.
My first 5min enter. I was already +5 pips as it crossed the first point i would enter on. I entered as price crossed the EMA in direction of profit on 5min.
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- newscalper
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I've taken today off today and just watched and marked this up
Apart from the EMA which is a good visual guide I find the macd really confuses things and does give a lot of false signals if you're not careful - it would have had you looking for a short at the bottom with that hourly close under the bottom line. To my mind at that point it was only up. Why? Who got screwed over going short at the last minute on the higher TF? There was a break up through a pointy place then price returned - it's a 123 breakout and f**k over on the higher TF, enter on 1 lower. Tada. LOL.
Good old Joe.
Apart from the EMA which is a good visual guide I find the macd really confuses things and does give a lot of false signals if you're not careful - it would have had you looking for a short at the bottom with that hourly close under the bottom line. To my mind at that point it was only up. Why? Who got screwed over going short at the last minute on the higher TF? There was a break up through a pointy place then price returned - it's a 123 breakout and f**k over on the higher TF, enter on 1 lower. Tada. LOL.
Good old Joe.
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LOL. 1 minute bar closed exactly on the zero line now it's just sat there doing nothing.
And bar closed over so out. Would be about -3 pips I think.
Story of my life, call trade after trade right all day then when I actually do something live (had I put money on it), it loses. Now you tell me that's psychology lol.
And bar closed over so out. Would be about -3 pips I think.
Story of my life, call trade after trade right all day then when I actually do something live (had I put money on it), it loses. Now you tell me that's psychology lol.
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- dojirock
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Sure I will give it a try. I used to use space that I would accumalate to pad my stops. I dont do that anymore. Now that Im stacking and conviced its the way I want to go it has become very important that I keep my losses extremely tight. I target sl 's at recent high or low or based on the 50simple and or 8 ema... as s/d for a sl. So if I am short I would be below the 50 simple and or 8ema, if price crosses back across the 8ema im out. Its not worth it. I am usually never wrong more than twice. When Im right, well here is where it takes some mental power to stay in! The 8ema helps me with that also, a lot of trends stay above or below the 8 ema which enables me to hold out longer. Another big tip is the colored boxes on my stacking charts, look at them. Those are session trading boxes. When price makes a new high or low from previous session, it tends to be bigger moves. which helps me hold longer also. If you look at the charts where my friend stacks(i post those too) he gets 15 to 40 pips per trade.... which is right in my comfort zone. He also has me convinced one good trade per session is all it takes.
I figure if I can master this like he has, I can trade two days a week and be done. Which is very interesting to me and my style of trading.
Let me know if you need better clarification...hope this helps.
I figure if I can master this like he has, I can trade two days a week and be done. Which is very interesting to me and my style of trading.
Let me know if you need better clarification...hope this helps.
judokamak wrote:doji....can you please explain a bit about your profit taking/SL. Where or when do you close your profit position-s and how do you set your SL?
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
- dojirock
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LOL glad it helps BB!
Great job, keep it going!
Great job, keep it going!
bettlebox wrote:Thank Doji i think i luv you lol.
My first 5min enter. I was already +5 pips as it crossed the first point i would enter on. I entered as price crossed the EMA in direction of profit on 5min.
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
- dojirock
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News, I dont use the macd blindly.... I always have an idea of where my support and resistance lines are and the macd adds strength to my trades.
For example....look at a 15 min macd cross and mark it....if it crosses up...go to 5 min and watch the chart... No shorts on 5 min....just not enough room, and a countertrend....
For example....look at a 15 min macd cross and mark it....if it crosses up...go to 5 min and watch the chart... No shorts on 5 min....just not enough room, and a countertrend....
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
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