lol
out
stupid trade on that
may buy it here though
PA, S/R, ZL, EXTREMES & MOMO
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Hi guys. Good to see You all
Today was a good day! Mainly because price action was easy to read.
I wasnt posting because I realised that Im not able to focus on trading and posting at the same time. Also it brings in some kind of pressure and that's the last thing that I want to feel while trading.
Anyway! I was thinking if anyone ever tried to place sell and buy orders simultaneously and after trade proves to be right (reacts to S/R area) You just close one side?
Sounds like a good idea - in theory
Today was a good day! Mainly because price action was easy to read.
I wasnt posting because I realised that Im not able to focus on trading and posting at the same time. Also it brings in some kind of pressure and that's the last thing that I want to feel while trading.
Anyway! I was thinking if anyone ever tried to place sell and buy orders simultaneously and after trade proves to be right (reacts to S/R area) You just close one side?
Sounds like a good idea - in theory
im gluten free intolerant
- newscalper
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- rank: 1000+ posts
- Posts: 1236
- Joined: Mon Dec 27, 2010 12:12 am
- Reputation: 291
- Gender:
What do You mean whats the difference?
You can blindly "bet" on the S/R area/line and when price reacts You can close one of the orders and go with "the flow". If You are wrong You can just close both orders and only pay spreads/fees. It's a huge difference.
It's not worth doing on small TF's but when You think about H1 or more there is plenty of time to close one order and let the other run when You see the rejection (price fails to close over Your line).
IN FACT instead of yapping CHALLENGE ACCEPTED newscalper ; D Beggining from tomorrow I'll try to test that thing. Might change my mind because Im still thinking if it makes sense but now I'm pretty sure it does ; )
EDIT: Differences to be specific:
- Losing less in case of being wrong
- Less stress of getting into the trade. Actually no stress because of an option of getting out ALMOST untouched
EDIT2: Keeping in mind Im a "newbie" or as gamers would say "fckn noob" I often find myself in situation where I look so hard for a good entry that I end up not taking the trade at all. That should do the trick.
Eventually I'll end up zeroing my account paying commisions. The worst case scenario is that my broker falls in love with me.
You can blindly "bet" on the S/R area/line and when price reacts You can close one of the orders and go with "the flow". If You are wrong You can just close both orders and only pay spreads/fees. It's a huge difference.
It's not worth doing on small TF's but when You think about H1 or more there is plenty of time to close one order and let the other run when You see the rejection (price fails to close over Your line).
IN FACT instead of yapping CHALLENGE ACCEPTED newscalper ; D Beggining from tomorrow I'll try to test that thing. Might change my mind because Im still thinking if it makes sense but now I'm pretty sure it does ; )
EDIT: Differences to be specific:
- Losing less in case of being wrong
- Less stress of getting into the trade. Actually no stress because of an option of getting out ALMOST untouched
EDIT2: Keeping in mind Im a "newbie" or as gamers would say "fckn noob" I often find myself in situation where I look so hard for a good entry that I end up not taking the trade at all. That should do the trick.
Eventually I'll end up zeroing my account paying commisions. The worst case scenario is that my broker falls in love with me.
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