Aliassmith Beats a "Dead Horse"

[aliassmith]

AUDJPY M5
Last push down was decent.

[Yirbu]

Was watching EU like a hawk because it was going to hit parity.
I didn't feel comfortable trading into that round number but catched a trade on the bounce.
Happy I took 1R but still...

220712 - EURUSDiM51.png (125.49 KiB) Viewed 1507 times

[Yirbu]

Today I was trading and ended up with 1R.
When my second trade turned south and nearly reached my SL I decided to close the trade to save one pip. Price immediately ran back up.
...I lost 1R.
Later price came back and I opened a new position which brought me up to 2R but I got out after price printed a second down candle. So...1.5R

I need to figure out how exiting works best for me. In the different threads I often read... "I exit if price stalls"....
Trade #1 was such an example. Price stalled and I got out...Maybe this comes with experience...
I'll try to see if I can review how different exits would have worked in my past trades. TRO was talking about the middots to exit. Would have turned out quite nice today.
Any other suggestions to get the most out of exiting?

220712 - EURUSDiM5.png (118.43 KiB) Viewed 1478 times

[aliassmith]

Realized I have been trading about 90% of my trades on my Samsung phone. Honestly it is a bit clunky on the app so I miss some moves.

[Yirbu]

Realized I have been trading about 90% of my trades on my Samsung phone. Honestly it is a bit clunky on the app so I miss some moves.

Hope you have a big screen, ha, ha

[aliassmith]

Realized I have been trading about 90% of my trades on my Samsung phone. Honestly it is a bit clunky on the app so I miss some moves.

Hope you have a big screen, ha, ha

This phone is 6.5 inch If I remember correctly.
The screen in my office is 32 inch.

Use of the phone is just so flexible.

[Don_xyZ]

Realized I have been trading about 90% of my trades on my Samsung phone. Honestly it is a bit clunky on the app so I miss some moves.

And people say I’m crazy lolz
The market is the same regardless of the display.
If you can’t make money trading from a phone then your way of trading is already too complicated IMHO
Well, unless your phone is the ancient Nokia 8210 or you use an EA to aid you.

[Don_xyZ]

Today I was trading and ended up with 1R.
When my second trade turned south and nearly reached my SL I decided to close the trade to save one pip. Price immediately ran back up.
...I lost 1R.
Later price came back and I opened a new position which brought me up to 2R but I got out after price printed a second down candle. So...1.5R

I need to figure out how exiting works best for me. In the different threads I often read... "I exit if price stalls"....
Trade #1 was such an example. Price stalled and I got out...Maybe this comes with experience...
I'll try to see if I can review how different exits would have worked in my past trades. TRO was talking about the middots to exit. Would have turned out quite nice today.
Any other suggestions to get the most out of exiting?

220712 - EURUSDiM5.png

Exit method is abundant in this forum but I can now see what your real problems are. You lack the stats to back your confidence. If you know how an event might turn up even just 25% of the time over 1000 occurences you can already know how to react and take advantage of it. Problem is, it takes time to gather stats and thus, to build your confidence. Is there a shortcut? Yes, study the 1 minute tf like there’s no tomorrow.

[Yirbu]

Exit method is abundant in this forum but I can now see what your real problems are. You lack the stats to back your confidence. If you know how an event might turn up even just 25% of the time over 1000 occurences you can already know how to react and take advantage of it. Problem is, it takes time to gather stats and thus, to build your confidence. Is there a shortcut? Yes, study the 1 minute tf like there’s no tomorrow.

Absolutely true...I haven't got enough data to have the confidence.
I have been studying average candle sizes, wick sizes etc but am not completely sure yet.
Haven't been looking at the 1 minute. Thx! I'll have a look at that.

[Jhx]

Today I was trading and ended up with 1R.
When my second trade turned south and nearly reached my SL I decided to close the trade to save one pip. Price immediately ran back up.
...I lost 1R.
Later price came back and I opened a new position which brought me up to 2R but I got out after price printed a second down candle. So...1.5R

I need to figure out how exiting works best for me. In the different threads I often read... "I exit if price stalls"....
Trade #1 was such an example. Price stalled and I got out...Maybe this comes with experience...
I'll try to see if I can review how different exits would have worked in my past trades. TRO was talking about the middots to exit. Would have turned out quite nice today.
Any other suggestions to get the most out of exiting?

220712 - EURUSDiM5.png

Exit method is abundant in this forum but I can now see what your real problems are. You lack the stats to back your confidence. If you know how an event might turn up even just 25% of the time over 1000 occurences you can already know how to react and take advantage of it. Problem is, it takes time to gather stats and thus, to build your confidence. Is there a shortcut? Yes, study the 1 minute tf like there’s no tomorrow.

My difficulties with gathering stats to gain confidence is that I have a hard time determining "this entry is valid, this one isn't". The entry might be executed in the same way, but context is different, and in many cases that matters a lot.

In complete opposite scenarios it might be easier to say "ah, this makes sense because in case A price was like this and in B price was like that"; but the nuances in valid/invalid scenarios that at glance look similar gets me spinning in circles me every time and would make the foundation in which I build the stats useless.

It seems that context is really important but how one views the chart is subjective. There seems to be so much information to the left when you're about to enter. I don't know. Maybe I just haven't found a way to read the chart in a consistent manner. Are there any 'chart reading methods' out there?