LOSS
mook - LOG
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mook - LOG
Last edited by lukx on Wed Nov 03, 2010 5:51 am, edited 1 time in total.
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- bredin
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Looks like a sit-down price to me
I was wondering what he based the trade on
G.
I was wondering what he based the trade on
G.
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- Braathen
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the CC closed over his black line.. so he went long..
only problem is.. the prev extreme is the take profit..
and price had yet to close consecutive candles above anything on a higher TF.. so basicly.. he fueled someones sell order
only problem is.. the prev extreme is the take profit..
and price had yet to close consecutive candles above anything on a higher TF.. so basicly.. he fueled someones sell order
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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lukx wrote:LOSS
Start on higher tmf like H1 at least.
The first candle that really closed much higher then previous other colored candle is your initial candle to start with.
http://s906.photobucket.com/albums/ac26 ... trade4.gif
If you use limitorders to enter with a SL of just 10 ticks you will get nailed over and over again.
Mighty uses a big SL for his first entry. If you will not use such a sl then you need to wait for candle closes and use other candles to enter.
Lets say if you had waited for the close of the M5 and buy on high you would never be filled so no loss at all. Maybe if you had reacted fast you could have shorted because of a close below your line.
The rules are still the same.
Did CC close over a line or not? Yes it was but you didn't wait for the next close. If that close was above your line then you could have go long with entry with right cc color.
Last edited by dragon33 on Wed Oct 20, 2010 2:31 pm, edited 2 times in total.
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