Never Lose Again

[bakaender]

I wouldn't because I only will take a trade off the H4 chart if it is back to back candles. I would look to lower time frames and take a short if any came up.

Another thing I would suggest though, like TRO says, only trade 1 pair till you know what your doing. GBP/USD is easier I than the EUR/JPY I think, but I only trade the pound.

[prochargedmopar]

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe

[prochargedmopar]

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe

Another note, it looks like e/j is driving itself into a corner.....when it breaks out of the triangle/wedge someone is gonna be a happy pipper......
The trend line I drew was suppose to touch the tips only...or maybe bodies depending on your perspective.

Enjoy.

[jcelano]

Hello!

I took this trade a few moments ago and wanted to get your thoughts...

Please Note:

This trade was made by simple observation and looking at the history of the candles preceding the candle on which I took the trade

HERE'S WHAT I SAW:

I noted that the LONG CANDLE on which I entered was HUGE and looked to hit the HIGHS of the previous wicks (actually it went past)

I also noticed that none of the other high wicks actually stuck and found their point of resistance quite a bit lower

The price was already at it's highest point since late SEPTEMBER

Based on this, I scalped some pips on a retrace

The IN was a SELL Market Order and the OUT was a BUY ENTRY order to close out the position

The HIGHER TIMEFRAMES were used only to determine the the price was already at a high for OCTOBER

Here's my question:

Would you have taken the trade?
What are your thought regarding my interpretation of price acation?

I made 7 pips on the deal and could have made 15+ however I am still taking the smaller profits at this point to keep my expectations in check and not treat DEMO MONEY like DEMO MONEY

As always, thanks for your time!

James

[aliassmith]

A trendline with 3 touches is suppose to be strong.
See the black line?
Most likely outcome is a bounce......so stikky stock charts book says anyway.
See what happened?

M.O. has stated that the hugging candle that closes inside the momo candle reduces momentum by the amount it closes inside the body.....or something like that.....I see that the close of the candle at mid-point has negated some of the momo. Need to wait for price action, looks to be going up, any Green rats in the house???????
LOL

Also, It seems we are in some kind of distribution/accumulation phase and most people are waiting to see if price is gonna break up again or drop back down.

What do you see??


I f'd up and bought after g/u made it's most recent high and had retraced some.......allowed myself to be influenced by another trader (I'm a red rat dammit).....wasn't long and I was down 42 pips....doh.

After 4 trades london I'm -14.x pips but up +2% on account. hehehehe

Explaination on chart.

[aliassmith]

A nice wick in short!
Will it continue down?
Have to wait and see.

[pablo101]

Price hit H1 ZL, I get an entry on 5m. Sl got hit-again...

You will probably say that I entered too late again...

I took this one not just because of h1 zline and h1 momo but 4 hr closed red, out with small gain as I see price push higher. Now in long GU again.

You were able to close it with a gain? Wow...nothing to add.

Calling me out sir??? not scared about closing out if I see a loss on the horizon

Well, looking at your pic, you were not in the same trade that I was in. I have entered 30-40 min later. I have been surprised how it was possible to exit with a gain in my situation.
Sorry if I am wrong.

LOL my bad

[prochargedmopar]

What's my deal?

I was short at 86, 77, and 71 for a grand total of +.9 pips.

It's still dropping. looking at a chart while not being in a trade and looking at a chart while being in a demo trade for me is TOTALLY different than looking at a chart while being in a trade live...........
It's getting funny.



Take this GREEN rat reverse trade right here....after being down 13ish pips, if I hadn't already bailed with a live trade I surely would have when I got back to a couple pips.................

With demo, why not hold and see what happens???
It's insanity,



Heck, I even closed the demo trade 10 pips to early, or more.

If I can ever think of this as a game and NOT a necessity of life it will be a cake walk with only one number in the basket.....MINE.
LOL

[prochargedmopar]

See what I mean,
Demo trading is tooooooo easy.

M5 rat reverse (red guy this time)

See profit??



Looky here, I can even hold for a few more pips through a pullback....no green candles. close it at +20.....
Doh,



Can't wait till I get my head together so I can do this live....hehehehe


EDIT!!
I FIGURED OUT HOW TO DO IT.

Using 10 cent pips with a $1000 account would be like trading demo, 10,000 pips to spare.
Well then,
So to a $10,000 account with $1 pips.
And also a $100,000 account with $10 pips.

All I need now is somebody to loan me $100,000 to $250,000 and I can retire tomorrow.

LOL

[aliassmith]

$100,000 wow that would be about $100 per pip.
You would make a ton of money and then blow the account up

Plenty of opportunities to make 20 pips a day.

4 chances on GBP/USD in the US Session alone and I showed the
trade on EUR/JPY earlier that moved about 25 pips