Aliassmith Beats a "Dead Horse"

[Yirbu]

Today I took just one trade. It's a bit of an odd pair and sometimes the spread is a pip or so but it can trend good.
This trade looks a bit like the GU trade yesterday...again I took 1.5R and was happy just to see it drop like a brick later. Guess I need to learn to catch these big drops.

[aliassmith]

GBPUSD M5 I did not trade. It is 4th of July weekend.

The vertical red line is about then I would sit at my charts.

Before the trade shown I might have traded and made a few pips or lost a few, basically break even

The trade that is shown is under the 20 sma that is pointing down with a zline entry.

the SL is about 4 pips and take profit is 10 to 30 pips.

Risking $200 a pip you make $2000 to $6000.

1 well executed trade might be all you need, if not there was about 5 trades for maybe 50 pips IMO.

I hope you had a nice weekend and enjoyed it.

I actually took that trade.... I was able to take 1.5R and am quite happy with the result.
Closed it when price stalled after the first big candle down. I am pretty sure the 50% retracement of the next candle would have scared me and I would probably end up with less. Would you have stayed in that trade?

On my chart I would look for the 3x to exit. Previous swing low. 1.5R is good tho.

[aliassmith]

Today I took just one trade. It's a bit of an odd pair and sometimes the spread is a pip or so but it can trend good.
This trade looks a bit like the GU trade yesterday...again I took 1.5R and was happy just to see it drop like a brick later. Guess I need to learn to catch these big drops.

You had a decent exit. There was a pullback shortly after you exited that I would have shorted.

[aliassmith]

GBPUSD M5

2 trades early US session.

Trade 1 was a Fair Value Gap entry. for 1%ish (20+ pips)

Trade 2 was a zline entry with a second entry for 3%ish (30+ pips)

Possible 63 pips for each trade if you have a good crystal ball.

As someone posted.... Under the red 20 sma when it has some steepness to it.

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

[IgazI]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

One of those every month and you're not starving

[Jhx]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

Is the first entry at a zline? Would a stop be at the high of the blue candle?

Can't see the criteria for #2 and #3.

I'm also seeing how adding works there; moving the SL to the average entry, but it does take balls to hold like that . Maybe one day

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

One of those every month and you're not starving

Good thing it happens way more than once per month if you like to trade like that.

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

Is the first entry at a zline? Would a stop be at the high of the blue candle?

Can't see the criteria for #2 and #3.

I'm also seeing how adding works there; moving the SL to the average entry, but it does take balls to hold like that . Maybe one day

It's a zline as resistance trade with stop above the blue wick

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

Is the first entry at a zline? Would a stop be at the high of the blue candle?

Can't see the criteria for #2 and #3.

I'm also seeing how adding works there; moving the SL to the average entry, but it does take balls to hold like that . Maybe one day

No ballz necessary.
Reasonable risk to start the first unit.
When the second unit is placed right the risk is zero or close to zero.
When the 3rd part is placed then you need to be at zero risk and look for a target or targets.

It only takes conditioning. Not being worried if you make money every day.