Pro Trader wrote:es/pip wrote:Pro Trader wrote:es/pip wrote:numbk2k wrote:went ballistic true my tp .... lol i should have targeted the 0% level of H4 momo candle
i ddint trade the last one bec it was right in front of the news
es/pip do you enter at the zline itself shown by each of your arrows?
the line is just a line its not a signal
like MO has said its just a line in the sand, and it comes down to price closing above or below your line in the sand
Yes I understand that, it's just I've been watchin PA around these zlines after a momo and often price reverses of the line itself like clockwork. With charts posted with arrows at the line I wasn't sure what all you guys were doing.
Thanks for clearing that up, again.
I've been entering at the low of a momo (for a short) with a SL at the top, Dragons entry basically and thats been going ok but also the size of a momo is a factor to consider else the SL would be too large. Do you have a maximum SL beyond which you won't take a trade?
When you drop to a 1m or just get in, don't you have to be mega fast to do so at your desired price what with calculating SL distance from entry then position sizing etc? I notice that price can move quite quickly from these areas
Thanks for your help
my max loss is 4% per trade so my stops are at 20 pips
i am always trading the same size based off $1 a pip per $500--- so i dont have to calculate anything
the only time that i change my lot size and risk is if i am getting ready to do a m5 or m15 rat----- then i will adjust based on how the PA looks
i rarely will take a full stop--- will just get out based on the PA