cfabian wrote:Last night trade...
Had 20 pip hard stop. -18 max DD.
It touched 4H ZL (95 pip from my entry), but went to sleep and didn't place take profit. Closed it this morning with +37.
Still demo trading.
es/pip, MO I'm having more confidence in this system, thanks for your support... I just wonder if you can post an example where in your timeframe looks like a valid and strong "setup" while in higher timeframe it dictates the opposite. This is something I still need to get the feel of.
for me anyway
i am not really sure how to explain it by putting it into words but i will try.
i take the pair i am looking at and i flip thru my different time frames. i look to see on each time frame where the momentum is, where we just came from, who just got zl'ed and where we are most likely to go, which takes roughly 30 secs.
i look to see where the momentum is, where it started and what happened in the process of the move. did it increase or decrease as it came into a held profit area? Where are the next group of traders still sitting with a profit? If this holds where are we going next?
what does it look like on the weekly, daily h4 etc etc. If i see something on the 15 i like and then see something that contradicts that on the h1 or whatever then i will pass. If it is not very clear then i do not take it. When i look at the chart 1 of 2 things happens-----1 it jumps right out as being very clear of what i think is happening -----2 it has no appeal its just kind of blah------ if its blah then i do not trade.
i really cant explain it in words
pretty sure that didn't help very much
in fact i may delete this whole post