dragon33 wrote: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.
Price canNOT reverse without a 123.
"The largest correction that does NOT return to the extreme is NOT a correction, it's a reversal.....M.O."
Hopefully he gets in soon on some of these using the Traders Trick Entry:
Click on the link that Dragon posted and read what he says on his charts.......... http://s906.photobucket.com/albums/ac26 ... trade4.gif
"OR USE THE 50% BUT ONLY ON THE WAY BACK"
THAT is a TTE