Aliassmith Beats a "Dead Horse"

[aliassmith]

Ya sometimes the market cooperates and you can just load the boat and make stupid gains. The markets recently have been like that but you have to be careful with risk management.

Position is at a pointy place near a 50% pullback on the daily chart.
I have about 10x leverage pushed into this looking for about 200 pips more.

Good luck on riding that trade for a +20% gain!

I am currently investigating AJ shorts, I am looking to break the lows caused from last week's oil price drop.

Screenshot_20200316-180553_ThinkTrader.jpg

Just like MO said get a good position and a bit of Luck

[aliassmith]

Ya sometimes the market cooperates and you can just load the boat and make stupid gains. The markets recently have been like that but you have to be careful with risk management.

Position is at a pointy place near a 50% pullback on the daily chart.
I have about 10x leverage pushed into this looking for about 200 pips more.

Good luck on riding that trade for a +20% gain!

I am currently investigating AJ shorts, I am looking to break the lows caused from last week's oil price drop.

Screenshot_20200316-180553_ThinkTrader.jpg

[aliassmith]

Position is at a pointy place near a 50% pullback on the daily chart.
I have about 10x leverage pushed into this looking for about 200 pips more.

Good luck on riding that trade for a +20% gain!

I am currently investigating AJ shorts, I am looking to break the lows caused from last week's oil price drop.

Screenshot_20200316-180553_ThinkTrader.jpg

Just like MO said get a good position and a bit of Luck

Well I was positioned but I didn't get the luck part.

[aliassmith]

Seems like it was a struggle making $250 on a AUDJPY short last night on a H1 zline. Turns out it ran for 100 pips overnight. Ugh!

[aliassmith]

Asia wasn't bad, able to eek out some cash.
They aren't all winners and that is the purpose
You don't need to win every trade
You don't always need to win more than you risk
The market giveth and you must taketh!

[aliassmith]

Well during this social distancing and shutdowns, I figured I would look at some charts and post a pic of the standard chart setup I use. Sometimes I put other stuff on there "testing" but this is what I've settled upon.

The indies are:
PMBiasCandle
A 20 SMA that changes colors with slope
ATR
A modified FIB to measure ranges and such

[aliassmith]

Simple trade with the 20 sma, and the candlebias
Used the Fib tool to measure 1:1

[aliassmith]

Simple trade based on:
20 sma sloping down
50% retrace
Support becomes Resistance
Short somewhere in the yellow block

[aliassmith]

Follow-up Trade
20 sma sloping down
50% retrace
Support area becomes Resistance area
Short somewhere in the yellow block

[aliassmith]

By my Book trade:
20 sma sloping down
candle bias red
measure tool for target(s)
entry was somewhere in the yellow box