well it was close to TP but still LOSS:
why I didn't take profit, I tell you why , because I was doing what the grate mightyone said one day: r/r 1:4 . so I did tp 56pisp ls 14.
lukx zline trading log + cfabian p.35 + adaseb p.48
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My rule of thumb is at least 1:3
If you want to have at least 1:4 (nothing wrong with that) you need to check before you trade.
Have a look below. The yellow line is the top of a demand area. Why ? Because price has bounced off it (twice in this picture). You were selling into a demand zone !
You need to place your trades into thet bigger perspective (imho). Knowing that zone would have made you think twice because the R/R was lower than 1:4 !
If you want to have at least 1:4 (nothing wrong with that) you need to check before you trade.
Have a look below. The yellow line is the top of a demand area. Why ? Because price has bounced off it (twice in this picture). You were selling into a demand zone !
You need to place your trades into thet bigger perspective (imho). Knowing that zone would have made you think twice because the R/R was lower than 1:4 !
There's no business like [strike]show[/strike] covid19 business.
lukx wrote:well it was close to TP but still LOSS:
why I didn't take profit, I tell you why , because I was doing what the grate mightyone said one day: r/r 1:4 . so I did tp 56pisp ls 14.
but
when the market is saying " i'm not going down anymore and i am now going to go up"
you need to take profit and or go long
you cant just stay in bec you think it is gong to keep going down
what is the market saying
you are short off the line before A, you get momo on A
B----- what does this bar mean---- decrease in momo with the wick--- no way i am still in that short
C----- increase in momo off the bottom after the rev. bar= not short poss. long
D--- looking to short into this bar due to the momo off of A
E and F---- no good momo into the low= exit short and poss trade long
G----- momo up going to trade long no way in hell i am still short
Bend over and assume the position for another 4 years of hope and change.
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Thanks for this explanation espip, when you get a chance please post some more. They are really helpful... I know it takes time, so I appreciate it in advance.
Cheers
Cheers
es/pip wrote:cfabian wrote:espip,
tiering the story together from multiple TF is where many of us get lost. Each TF is different story. A good setup in determined TF is a kick in the but in another one. Thus I wonder if you can examplify some trades by drilling down your analisis from higher TF to your M5 - M15 (or your entry TF) just as dragon has done it with his approach? It will be extremely beneficial.
Cheerses/pip wrote:lukx wrote:Yes I checked 1H and I was in zl like it supposed to be, I entered at 15m zl.
Trading plan based on what dragon wrote. (check 1h for zl, enter on 15mzl) I forgot about the rule about entering short when blow pervious daily close and long above. Today it would worked but yesterday it didn't.
RR around 1:3
this most likely will be a waste of time since you still don't have your emotions under control
but
show me your h1 chart that shows " Yes I checked 1H and I was in zl like it supposed to be"
then post a h4 chart underneath it-- and tell me what those bars mean
then make your argument AGAIN---BASED of YOUR CHARTS
then i will post mine
it will be later today or tonight when i respond, have to take care of some things
post your charts
it is as simple as looking up and then left
if you are trading the m5 chart---ALONE
you look UP-- m15 and higher and then look left
is the m5 momo into a m15 opposite momo?
if so then you should not take the m5 momo to be correct
if i see m15 momo long so now i am thinking long, i then look up to the higher time frames and see if it is directly back into a m30 opposite momo
if so then i disregard the m15 and look short off the higher time frame
when you trade against the momo it needs to be as close to the bottom/top as you can get in bec it is less risky, after that then you are looking to play off the dominate momo--- ie higher time frame
these are not the best examples of what i am trying to say------
this is what MO is saying when he says --- not sure if this is exact---- " you can get fooled on one time frame but not on all time frames"--- or something like that
ie
it looks like momo on m5 but it is not bec of the higher time frames
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
cfabian wrote:Thanks for this explanation espip, when you get a chance please post some more. They are really helpful... I know it takes time, so I appreciate it in advance.
Cheerses/pip wrote:cfabian wrote:espip,
tiering the story together from multiple TF is where many of us get lost. Each TF is different story. A good setup in determined TF is a kick in the but in another one. Thus I wonder if you can examplify some trades by drilling down your analisis from higher TF to your M5 - M15 (or your entry TF) just as dragon has done it with his approach? It will be extremely beneficial.
Cheerses/pip wrote:lukx wrote:Yes I checked 1H and I was in zl like it supposed to be, I entered at 15m zl.
Trading plan based on what dragon wrote. (check 1h for zl, enter on 15mzl) I forgot about the rule about entering short when blow pervious daily close and long above. Today it would worked but yesterday it didn't.
RR around 1:3
this most likely will be a waste of time since you still don't have your emotions under control
but
show me your h1 chart that shows " Yes I checked 1H and I was in zl like it supposed to be"
then post a h4 chart underneath it-- and tell me what those bars mean
then make your argument AGAIN---BASED of YOUR CHARTS
then i will post mine
it will be later today or tonight when i respond, have to take care of some things
post your charts
it is as simple as looking up and then left
if you are trading the m5 chart---ALONE
you look UP-- m15 and higher and then look left
is the m5 momo into a m15 opposite momo?
if so then you should not take the m5 momo to be correct
if i see m15 momo long so now i am thinking long, i then look up to the higher time frames and see if it is directly back into a m30 opposite momo
if so then i disregard the m15 and look short off the higher time frame
when you trade against the momo it needs to be as close to the bottom/top as you can get in bec it is less risky, after that then you are looking to play off the dominate momo--- ie higher time frame
these are not the best examples of what i am trying to say------
this is what MO is saying when he says --- not sure if this is exact---- " you can get fooled on one time frame but not on all time frames"--- or something like that
ie
it looks like momo on m5 but it is not bec of the higher time frames
Just want to second that es/pip....I know you've posted a ton of charts but I found your explanation of these particularly helpfull. Thanks
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