Aliassmith Beats a "Dead Horse"

[IgazI]

I think that many of these losses will be avoided as you gain experience. . .

y.png

I do hope so because it can really drain your battery.
I don't think I understand the blue lines...looks like SR but why are they where they are?
With the red lines I can work...just never thought about this. I guess I am too focused on other things.

The blue lines are "patterns" and patterns are the things behind the breakouts:
if price is "in" something then it is a pattern & if "out" of something then it is a breakout.

Separating up from down and out from in is step #1 in trading.

[Yirbu]

I think that many of these losses will be avoided as you gain experience. . .

y.png

I do hope so because it can really drain your battery.
I don't think I understand the blue lines...looks like SR but why are they where they are?
With the red lines I can work...just never thought about this. I guess I am too focused on other things.

The blue lines are "patterns" and patterns are the things behind the breakouts:
if price is "in" something then it is a pattern & if "out" of something then it is a breakout.

Separating up from down and out from in is step #1 in trading.

Thx. I'll have to think about that because it doesn't click in my head.
Of course I have read about it in your thread but it's not always obvious for me.
I guess that's the experience.

In the mean time I grabbed +4R on the m1. Twice
What goes up must come down and even if there is no momentum....gravity will work

I think this is also what I mean with my trading feels wobbly......trade...get some...lose all...get some again...
Anyway...I've got +16R now...near my personal best!

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[IgazI]

1. Learn a basic trading method
2. Trade it
3. Journal
4. Repeat

Trading and journaling are more important than the system itself.

[Yirbu]

1. Learn a basic trading method
In progress
2. Trade it
In progress
3. Journal
In progress
4. Repeat
In progress

Trading and journaling are more important than the system itself.

[aliassmith]

This is so frustrating.
I also lost my Monday earings on Tuesday so I am back where I started

220824 - EURUSDM5.png

You don't have many options when you take losses. They come from gains you already made or future gains. The profit in your account isnt guaranteed.

This is a long game you are not trading for a few trades. Some days might be red. Some weeks might be red.

[Yirbu]

This is so frustrating.
I also lost my Monday earings on Tuesday so I am back where I started

220824 - EURUSDM5.png

You don't have many options when you take losses. They come from gains you already made or future gains. The profit in your account isnt guaranteed.

This is a long game you are not trading for a few trades. Some days might be red. Some weeks might be red.

You are right as usual...still it was frustrating.
Luckily there is a new day every day

[Don_xyZ]

This is so frustrating.
I also lost my Monday earings on Tuesday so I am back where I started

220824 - EURUSDM5.png

You don't have many options when you take losses. They come from gains you already made or future gains. The profit in your account isnt guaranteed.

This is a long game you are not trading for a few trades. Some days might be red. Some weeks might be red.

Yes. This is why many people with employee mentality dropped out of forex trading because there is the uncertainty factor and also the pressure to make money ASAP. Just to become a good surgeon requires many years of sacrifices and yet there are people who expect to make money as soon as they finished reading a $49 e-book.

[Yirbu]

I think that many of these losses will be avoided as you gain experience. . .

y.png

I do hope so because it can really drain your battery.
I don't think I understand the blue lines...looks like SR but why are they where they are?
With the red lines I can work...just never thought about this. I guess I am too focused on other things.

The blue lines are "patterns" and patterns are the things behind the breakouts:
if price is "in" something then it is a pattern & if "out" of something then it is a breakout.

Separating up from down and out from in is step #1 in trading.

....And you the blue ones are zones where the swing highs/low were not so?

[Yirbu]

I do hope so because it can really drain your battery.
I don't think I understand the blue lines...looks like SR but why are they where they are?
With the red lines I can work...just never thought about this. I guess I am too focused on other things.

The blue lines are "patterns" and patterns are the things behind the breakouts:
if price is "in" something then it is a pattern & if "out" of something then it is a breakout.

Separating up from down and out from in is step #1 in trading.

....And you the blue ones are zones where the swing highs/low were not so?

I get it... I think....it doesn't matter what you name it
It's just "the thing" behind the breakout.

[IgazI]

I do hope so because it can really drain your battery.
I don't think I understand the blue lines...looks like SR but why are they where they are?
With the red lines I can work...just never thought about this. I guess I am too focused on other things.

The blue lines are "patterns" and patterns are the things behind the breakouts:
if price is "in" something then it is a pattern & if "out" of something then it is a breakout.

Separating up from down and out from in is step #1 in trading.

....And you the blue ones are zones where the swing highs/low were not so?

The answer is a simple question: what is "out"?:

If it is not "out" (breakout) then it is "in" (pattern):

Once you know where the "ins" are then you can draw your trend or horizontal lines to trade the "outs":

QA.png (155.52 KiB) Viewed 1146 times

Why is it a bad idea to trade the blue lines in the picture below? because you are entering into a pattern; notice how the green line differs in that you are trading price moving out of the pattern:

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