Patterns Observation.

[aliassmith]

The best stop loss is no stop loss: if price does something that you don't like then get out:

Especially on a minute chart, it is more likely that you will get abused by a rogue wick than have price not only move quickly against you but so strongly that it actually closes without retracing.

Depending on the strategy. I would say yes and no to that.

One great reason to have a SL would be for emergencies. Computer freezes
Power outage
Broker connection issue
Random news
Etc.

If you are leveraged all-in like don_xyz does then its probably a good idea.

I do it both ways.
If I trade small with multiple orders then no SL.
If I trade large then I'll use a SL.
If I am adding in then normalizing my risk the yes to SL.
If I get tired of watching then yes to SL.

[IgazI]

The best stop loss is no stop loss: if price does something that you don't like then get out:

Especially on a minute chart, it is more likely that you will get abused by a rogue wick than have price not only move quickly against you but so strongly that it actually closes without retracing.

Depending on the strategy. I would say yes and no to that.

One great reason to have a SL would be for emergencies. Computer freezes
Power outage
Broker connection issue
Random news
Etc.

If you are leveraged all-in like don_xyz does then its probably a good idea.

I do it both ways.
If I trade small with multiple orders then no SL.
If I trade large then I'll use a SL.
If I am adding in then normalizing my risk the yes to SL.
If I get tired of watching then yes to SL.

'Stop profits' are fine I'm more talking about placing an order to exit at a loss

As far as connection issues, you can still draw on the chart when it is not updating; call the broker and plot the HL price bar yourself.

[Don_xyZ]

The best stop loss is no stop loss: if price does something that you don't like then get out:

Especially on a minute chart, it is more likely that you will get abused by a rogue wick than have price not only move quickly against you but so strongly that it actually closes without retracing.

Yes, this is true. There are situations where the wick killed the trade. Also, I sometimes don't use SL. There are things that I consider prior to deciding whether to use SL or not and how I go about the no SL route.

And yes, I do close my trades manually when I don't like how things are progressing in the market (profitable or not).

[IgazI]

I'll keep that in mind.

I guess the reason why people no longer post is because they are already profitable and lost their interest the share because after a while, trading is gonna get boring because it's gonna be the same set of entries and exits being posted everyday.

This is different for me because I seek to kill my boredom than seeking knowledge in here these days. I used to play guitar (classical or accoustic) and occasionally try to make a song.

I just finished reading this whole thread; I don't read threads from start to finish, feel honored

The #1 thing that I hate about Kreslik is that no matter how long you've been here, no matter what your fame is, you still have to fill out the captcha to log in. . . I bet even Avery has to enter '3BEFR' to log in;

my advice to the new people is:
- hit 'preview' often when making a long post
- if you are forced to log in then do so and hit the back button until you return to your draft.

[Don_xyZ]

I'll keep that in mind.

I guess the reason why people no longer post is because they are already profitable and lost their interest the share because after a while, trading is gonna get boring because it's gonna be the same set of entries and exits being posted everyday.

This is different for me because I seek to kill my boredom than seeking knowledge in here these days. I used to play guitar (classical or accoustic) and occasionally try to make a song.

I just finished reading this whole thread; I don't read threads from start to finish, feel honored

The #1 thing that I hate about Kreslik is that no matter how long you've been here, no matter what your fame is, you still have to fill out the captcha to log in. . . I bet even Avery has to enter '3BEFR' to log in;

my advice to the new people is:
- hit 'preview' often when making a long post
- if you are forced to log in then do so and hit the back button until you return to your draft.

Owh, thank you for even visiting here.

Yes, the captcha man.

If I'm gonna make a long post I'd do it in Google Docs first coz it has auto save. I learned my lesson haha

[Don_xyZ]

Gotta keep the thread alive.
Entry at 1.0438
Exit at 1.0270 for 168 pips / 84 R.

I missed the initial spot for fractal daily anchor trade but got in at London fractal daily anchor.

The bias in D1 is still intact

Screenshot_20220706-090501.png (141.24 KiB) Viewed 2226 times

The HH gradually sloping

Screenshot_20220706-090851.png (148.8 KiB) Viewed 2226 times

3rd touch is traditionally the charm

Screenshot_20220706-090029.png (134.13 KiB) Viewed 2226 times

After 25 R I got tired of adding the fib marker. Definitely not the 1st time posting the D1+H1 formula. When they align, it's gonna be astronomical R. Rinse and repeat.

IgazI's 3 and Alias' Deadhorse would have caught this move also.

[Don_xyZ]

My London Open play for anchor trades.

Price move up or down from the starting point like this

Screenshot_20220707-082448.png (114.44 KiB) Viewed 2163 times

Or like this

Screenshot_20220707-082616.png (122.21 KiB) Viewed 2163 times

To achieve one of these 4 waves.

Screenshot_20220707-083244.png (117.21 KiB) Viewed 2163 times

Things to watch for are the pullbacks and targets.

This should make sense to achieve monstrous R.

[Don_xyZ]

After revisiting another old trading idea I found another quick scalping play and this time using only line chart on closing price.

As I browse through the potential, things get even crazier.

Screenshot_20220708-083909.png (129.51 KiB) Viewed 2068 times

Screenshot_20220708-084337.png (126.78 KiB) Viewed 2068 times

Screenshot_20220708-084612.png (127.77 KiB) Viewed 2068 times

Screenshot_20220708-084807.png (113.55 KiB) Viewed 2068 times

Can anyone scalp like this? Yes, of course.

Are you kidding me? I'm dead serious.

I have to give credit to IgazI for making me re-think about the use of closing price. But some wires in my brain might have been plugged in differently so I ended up with a pure line chart and this stuff instead lolz

The core of this strategy is breakout trade but with some variations (my style, as always). This can be done on any tf but ideally on M1 or at least M5. What about 5 seconds, 10 seconds and the rest? Yes it can be used there also however, the cost is simply not worth it.

[aliassmith]

After revisiting another old trading idea I found another quick scalping play and this time using only line chart on closing price.

As I browse through the potential, things get even crazier.

Screenshot_20220708-083909.png

Screenshot_20220708-084337.png

Screenshot_20220708-084612.png

Screenshot_20220708-084807.png

Can anyone scalp like this? Yes, of course.

Are you kidding me? I'm dead serious.

I have to give credit to IgazI for making me re-think about the use of closing price. But some wires in my brain might have been plugged in differently so I ended up with a pure line chart and this stuff instead lolz

The core of this strategy is breakout trade but with some variations (my style, as always). This can be done on any tf but ideally on M1 or at least M5. What about 5 seconds, 10 seconds and the rest? Yes it can be used there also however, the cost is simply not worth it.

I've seen line charts used for trading. I still like the information I get from bars and candles.

[IgazI]

There are obvious trade-offs to choosing closing prices over all prices, I am just of the opinion that the negatives of the price spikes far outweigh the positive;

you have to exchange near certainty of a specific size loss for an uncertain size loss . . .
on the other hand price has to certainly move against you vs uncertainly moving against you.

Personally I reject the idea that the open adds anything to the close or that the high and low is more significant than where price is at the end of the day.