Never Lose Again

[razorboy]

this situation has become relatively obvious, but I are you aiming for 100+ pips on every trade?


Assuming that you are, I guess you end up with a lot of BE trades - once you start reducing your risk as price starts to go your way

You are confusing me for a systems trader when I am discretionary.

If you are asking if the probability that price will not return to the high is greater when price closes out side of the largest decline that returned to the high then the answer is yes.

I am usually short before the box is even hit.

I may go long shortly after the low break until price closes below the box.

My SL is either 9, 14, or 19 pips

If the spread is > 3 then my SL is not 9
If the spread is > 5 then my SL is not 14
If I scalp then it is added to my SL for re entry

My SL NEVER moves!

If I wish to reduce risk then I will take profit.

To MO and Manta: So do you short as soon as price break support (box with A low and B high) or wait until the next candle open? Where do you put your stoploss? Thanks in advance

[MightyOne]

I am aiming for a gain of at least 6x my SL on every trade (as high as 114 pips).

I am entering off the daily extremes or 70-30

It is not as hard as it looks

Once you have a significant profit you loosely defend it from corrections and keep rolling over the profit into the next trade.

I keep saying this, but some how it does not compute

this situation has become relatively obvious, but I are you aiming for 100+ pips on every trade?


Assuming that you are, I guess you end up with a lot of BE trades - once you start reducing your risk as price starts to go your way

You are confusing me for a systems trader when I am discretionary.

If you are asking if the probability that price will not return to the high is greater when price closes out side of the largest decline that returned to the high then the answer is yes.

I am usually short before the box is even hit.

I may go long shortly after the low break until price closes below the box.

My SL is either 9, 14, or 19 pips

If the spread is > 3 then my SL is not 9
If the spread is > 5 then my SL is not 14
If I scalp then it is added to my SL for re entry

My SL NEVER moves!

If I wish to reduce risk then I will take profit.

To MO and Manta: So do you short as soon as price break support (box with A low and B high) or wait until the next candle open? Where do you put your stoploss? Thanks in advance

[razorboy]

no it isnt hard as it looks - but like i said before - sometimes I nail it right on (50 to 150 pips) and others I'm so wrong that If I had faded my own trade, I would have been brilliant and am stuck trying to figure out why I see somethings so right and others so wrong - its like im dyslexic

[MightyOne]

It is all about perception:

no it isnt hard as it looks - but like i said before - sometimes I nail it right on (50 to 150 pips) and others I'm so wrong that If I had faded my own trade, I would have been brilliant and am stuck trying to figure out why I see somethings so right and others so wrong - its like im dyslexic

[MightyOne]

[prochargedmopar]

How I see this price action...price is falling down quite fast. Somebody is making money. Suddenly it's slowing down and hesitate whether to go lower or stop and correct (this is ABCD formation), then it says "OK, enough, let's correct a bit", who made money before starts losing now, this is the moment I jump in. You can look at the MO's TL as the point where market decided "it is enough".

Look at the market and price as living creature
Might this be the psychology you wanted me to see, MO?

Losing money?
I think they are taking profit and at the same time hitting stops which is driving price in the other direction.

So it's both, making money/losing money, depends on what position you have take. But then, I'm not suppose to be thinking about money.

[prochargedmopar]

Here is a little scalping chart that I've setup for having fun with.

#1 breakouts.
#3 reversals.
DSS 6/10 for trigger
DSS 30/50 for Higher time Frame overbought/oversold market condition monitor.

Loosely based on this:
http://www.trade2win.com/boards/forex-s ... ors-3.html

And this:
http://www.trade2win.com/boards/forex-s ... trade.html

Very simple strategies and tro has all the idy's in "digital" format.

[inzider]

Me again!

MO!.... hehe

You are using that #1 level later as a breakout on the upside?!?
When you mean long over short below, is that in relation whit box range or ZL?

I started using those and its preatty accurate.
You guys dosen't include wick?

And, you said " I am entering off the daily extremes or 70-30", can you gently clarify about 70/30 level.

Last point... can someone can post the semaphore indic used here, and what's the real point of it ?!?



Much appreciated!

Yes...

Like this?

I would have used the closing price of the 1 Semafor

Maybe this can help to somebody...Chart is 5M GBPUSD from yesterday afternoon. I did not take this trade, because i was not at my computer (I don't like friday afternoon trading), but it shows how I would trade.

Notice how small SL you need for 100-120 pips profit in just 2-3 hours.

MO, is the TL marked on my chart correct?

[prochargedmopar]

Link to 3LZZ indicator.

http://kreslik.com/forums/viewtopic.php?t=1863

[TheRumpledOne]

Pro:

Until your charts are consistent, you trading nor your profits are going to be consistent.

You change charts more than I do!!