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newscalper
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Postby newscalper » Wed Jan 08, 2014 4:43 pm

bettlebox wrote:News

This how i would marked up fibos just with 1hr in isolation.





I don't get the consitency of logic on the last entry - if you wouldn't have gone long earlier on the basis of a 5 minute bar going below the fib why did you elect to go long on the final one which made pips? And the other one to the left on the 3 sema?

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bettlebox
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Postby bettlebox » Wed Jan 08, 2014 5:00 pm

To Raw:
i wait for 5min MoMo (not a rat trade there is difference) also know as engulfling pattern on individual candles. Look back a page or so to Dojirocks pictures on zlines, this shows what are momo .

to judo:
This is process i use , here is example with 7 pip s/l

i enter a trade

1)at this point there is nothing i can do either the market will take my stop loss or it will move me into profit.

2) price move to +8 im now at 1:1 (S/L = 7 plus my spread=1 total = 8). Move S.L to breakeven. (this is the thing if this trade is goodone price will rarely get back to breakeven point and just take off, and if does take you out breakeven it will produce another signal for you get back again, no big deal)

3) Next i sit back wait for price to reach 2:1 or takes my s/l @ breakeven.
At 2:1 I focused on reaching my primary target which is another zline.Also once at 2:1 stage onwards now if i see signs of weaknes within the market i can choose to take profits or lean on breakeven stoploss its up to you. If you got multiply lots in position you can cover the position.

This is basics how i manage a trade, i also play variations on this.it works. Why do i move my S/L because i want to be profitable im not interested in draining the banks :P.

BB
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

raw
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Postby raw » Wed Jan 08, 2014 5:03 pm

If BB is using m15 fibs, the last entry would make sense.
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bettlebox
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Postby bettlebox » Wed Jan 08, 2014 5:30 pm

Dont know if these help way i see it





newscalper wrote:
bettlebox wrote:News

This how i would marked up fibos just with 1hr in isolation.





I don't get the consitency of logic on the last entry - if you wouldn't have gone long earlier on the basis of a 5 minute bar going below the fib why did you elect to go long on the final one which made pips? And the other one to the left on the 3 sema?
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

judokamak
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Postby judokamak » Wed Jan 08, 2014 6:20 pm

cool, thanks bettle

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Postby bettlebox » Wed Jan 08, 2014 6:26 pm

Just wanted to point i never took those trades on eurusd today. They viewed as just plays off 1hr levels with no regard to 4hr.


The point been if had no higher timeframe direction the worst case you walked away on the day with -6 pip loss how would you react to it? and lets say you took that other trade and we add -7 pip trade to total.

-6 + -7 = -13 pips how would you react to that?

In the bigger picture -13pips is nothing.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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TygerKrane
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Postby TygerKrane » Wed Jan 08, 2014 10:05 pm

newscalper wrote:Red news is about to rip me a new hole
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"Goodbye my account. You have served me well"
~newscalper

:smt043
ROFL!
I have tears in my eyes, that s**t is so funny!


Well if it makes you feel any better, I start trading again next week, so maybe we can spread the pain & laughs around

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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newscalper
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Postby newscalper » Thu Jan 09, 2014 10:02 am

:lol:

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newscalper
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Postby newscalper » Thu Jan 09, 2014 10:07 am

thx for the PA tips BB

Today
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paweldobkowski
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Postby paweldobkowski » Thu Jan 09, 2014 11:37 am

Hi NS : )

Sorry to see Your loss but remember that failure should be a feedback. I'm curious, what did You learn from this particular experience?

And one more if You don't mind me asking. Do You have one approach / style or You jump between tools?

Because You often post different charts and what I've found helpful is to stick with ONE thing (even if it's not working well) and going with it for an extended period of time. It's like math, You can't see the variables without having constant values. Also what we tend to do (people) while switching approaches is to focus mainly on them. Do we do it right? / wrong? etc. and when we find something good we EXPECT it to work. Which automatically imposes our view on the market instead of letting market dispaly it's nature to us. Even MO said WAAAAAAY BACK something like: "You need to let the market teach You how it works". Which I belive is basically that principle in action.

Hope that makes any sense : )

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