Based on what I SEE the EURUSD may be in for a short week. ....
Well well... indeed EURUSD ended short for the week..
I'll do a couple of more in the following weeks. Lets see how many I can nail...
prochargedmopar wrote:Winny, thanks.
But that is a little to much action for even me. Bright lites.
es, only made +13.5 yesterday.
es, input excepted, though I can see clearly(er) Action required.
es, I've printed out hurndreds of pages and will sort and re-read again.
M.O. It seems that your advice about getting in the latter part of a candles' development is going to be HUGE both in pips drawdown and psychological strengthening. Should help by having better odds of a closed body in the direction of profit and reduced risk of taking the maximum average pip value on the chin.
Ive been getting in at the beginning of each candle after my "signal" candle and then being wicked out. I will have to say that if the candle is oversize in length I'll have to pass. Every time I see one that takes a long run I jump into the trade emotionally thinking I'm going to miss out and then boom, It will retrace big time.
Gonna crank up the simulator sat. night and then be ready to pull the trigger monday. According to my rules, of course........
Thankyou guys for the help.
Much, Much appreciated.
prochargedmopar wrote:Fear of taking a trade means that you know what the out come will be; you couldn't possibly know for certain.
And afraid of being wrong.
You are trading a 15 minute chart and the average 15 minute range is 20 pips.
If a new candle opens and you enter into a position then what is your approximate risk without a stop
and what is the chance that you can get out at BE if you are wrong.
It is your plan to exit on the same candle you entered on if you are not in significant profit, according to past momentum moves, by the time the candle closes:
New one on me.
If a new 15m candle opens and you enter into a position 3 minutes before the close of that same candle then what is your approximate risk without a stop?
About 4-5 pips
Do your chances of getting out at break even improve over entering at the beginning of the candle and why?
Yes, The next candle may go both ways and when you see its reversal you could exit B/E. I never looked at entering this way before.
With limit orders you reduce your risk by having price move to you.
Since price can only move so far so fast, on average, your risk is reduced.
With market orders you reduce your risk not through price movement, but through time. In time price moves using up the range like burning oil there by reducing your risk.
Ok, wait for development to take place.
If the candle that closed is the truth and the current candle is the deception then the current candle must always be moving toward the truth.
Knowing that you will eventually get the truth out of the candle you can observe the deception in fractional check points and then better decide weather it is truth or lie that price is moving with the momentum as shown by truth.
One third dots?
PS: It would help you if your chart was not lit up like a Christmas tree.
This is my way of seeing multiple time frames, I/E M60, M30, and M5 all on the same chart.
.3635 is a Z-line, no more buyers/only sellers available?
000000 was a shooting star reversal signal.
111111 a bear candle
222222 doji (long wicked high wave)
vvvvvv bear candle, sell on 4th arrow M15 for M30 risk =1/3 of M90 risk.
checks = bear candle, body in direction of profit. Yeah, were makin pips now. ect.......
Sell/buy toward the end (time wise) of the candle forming the z-line for less risk of a Neg. close?
Sell/buy the opening of the next Illusory candle for a full 20pip risk?
Sell/buy near the close of the next Illusory candle to get closer to verification? 3 min left = about 4 pips risk. But now I have reduced profit potential.
I thought you (MightyOne) rode the wick in the direction of loss back toward the Z-line for additional profit and less drawdown?
Or is that a 102 advanced move?
Am I on the right track or do I need MO 100?
Winny, I can't find the TOPTREND indicator in my list of hundreds of indy's. I even checked the motherload zip posted on this site. Probably a good thing though as I don't want to add to my Schwarzenegger "Christmas" tree chart. LOL