adaseb wrote: Fxtraveller wrote:
bigger charts rule. made only 34 pips in a 100+ pips move though. need to have more confidence and hold on to the trades
Hey I noticed you do alot of these shorting/longing at the old breakouts points. Just wondering do you only do it for GU or do you try it on other pairs also?
The trades in the earlier post are actually EJ
I trade EJ and GU only!
We all know that 'the more volatility, the more potential profit'.
MO, somewhere on babypips, gave the list of the best (ie most volatile) pairs:
4) something, cant remember
I stick to 2 pairs that I am reasonobaly familiar and comfortable with.
Also, lets not forget that a zline is where long- term trader's profit run out.
The (true) break out point (esp. on higher TF)- is the most obvious point of entry. Hence its the most obvious zline (in my opinion)
This is MO's quotes from NLA and this thread:
'Zero line is simply a breakout
, it doesn't matter where so long as price did not move to it to the right of the chart. '
'If you see a breakout and you can imagine your self sitting with profit after moving your stops to BE then that is a ZL'
'The only thing that matters is that price is continually closing in the direction you are looking to trade based on a point of reference.
Wicks reject areas and bodies explore them.
By looking at different time frame charts you can figure out how far into the forest traders are exploring before turning back to the reference line.
All I am saying is don't get overly technical because there are only two choices and one of them makes money