Never Lose Again

[Fxtraveller]

May I try to recap? It will be beneficial for myself as well:

1) basically you want movement/momo in order to even consider trading

then you want to trade in the direction of the momo

targeting other traders that are holding onto their profit

2) So if you are waiting for momentum and momentum is defined by a CLOSED body

3) Quote: ?if you see a breakout and you can imagine your self sitting with profit after moving your stops to BE then that is a ZL?
Wicks in the direction of loss and bodies in the direction of profit.

4) The only thing that tells me that my entry was less than perfect is the CLOSE OF A CANDLE while I am sitting with a loss.


5) TRO quote: IT'S ALL ABOUT THE ENTRY... a poorly timed entry means no chance to take profit. A poorly timed exit means you may have missed your chance to take profit?


There is still oh so much more, but I tried to make it as concise as pos.

[prochargedmopar]

PA wasn't perfect---- i agree

i mean i haven't made 500 pips or anything but i am up an ok amount--- not sure i never count them

i can still see that people refuse to use the 5 min close to tell them to get out and taking there full stop. My 20 pip hard stop is a disaster stop if you will. It is only there to protect me if it just rips on me when i get in, or if a 5 min bar rips against me without giving me a chance to get out at a better price.

MO, Dragon and I rarely take a full stop---- but everyone seems to take them without hesitation.

a 60 pip stop is nonsense----- unless it is built up from profits---like MO was showing

just bec you have a zl doesn't mean you take the trade---- especially after multiple bars

--- again no one wants to look inside for some reason

-- if you are watching a h4 zl from 8 days ago and trading it off that zl directly----- how do you have momo showing you the way? You don't.


no one should be trading gbp/jpy in my opinion---- at least not yet.

----------- trade the pound, the euro or the ej-- preferably the pound or euro to start


i don't understand a majority of the charts( and reasoning) posted


everything that Dragon and i learned is in this thread---- i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread.

I'm looking inside......hehehe

[cfabian]

Today too freaking boring.... Is there a bank day in the US or what is going on???????

I guess I should wait until Tokyo or beginning London.

[prochargedmopar]

PA wasn't perfect---- i agree

i mean i haven't made 500 pips or anything but i am up an ok amount--- not sure i never count them

i can still see that people refuse to use the 5 min close to tell them to get out and taking there full stop. My 20 pip hard stop is a disaster stop if you will. It is only there to protect me if it just rips on me when i get in, or if a 5 min bar rips against me without giving me a chance to get out at a better price.

MO, Dragon and I rarely take a full stop---- but everyone seems to take them without hesitation.

a 60 pip stop is nonsense----- unless it is built up from profits---like MO was showing

just bec you have a zl doesn't mean you take the trade---- especially after multiple bars

--- again no one wants to look inside for some reason

-- if you are watching a h4 zl from 8 days ago and trading it off that zl directly----- how do you have momo showing you the way? You don't.


no one should be trading gbp/jpy in my opinion---- at least not yet.

----------- trade the pound, the euro or the ej-- preferably the pound or euro to start


i don't understand a majority of the charts( and reasoning) posted


everything that Dragon and i learned is in this thread---- i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread.

Sorry ES/PIPS,

I'll refrain from posting my M5 stuff. Then again maybe I should be looking inside at the M1 to "look inside" the M5

PLEASE do not stop posting your m5 charts....that is how many get into their trades with least amount of draw down. Yes, using the m1 IF you are only trading the m5 for entries and targets MAY help.

Just don't get mesmerized by all the wiggle action. Stay focused on the m5 closed bodies.

thx

[lukx]

Today too freaking boring.... Is there a bank day in the US or what is going on???????

I guess I should wait until Tokyo or beginning London.

well I somehow pulled 50 pips today, 2 trades for 5 pips on EU and one for 40 on GU. Would be more on EU if I wouldn't chicken out when price was stalling for quite a bit during London.

This was my best trade today and it was on autopilot;)
I set sell limit on ZL and TP on down ZL and went to do shopping

[Fxtraveller]

Lukx,
what about the SL? =] did you preset it?

Good trade.

[aliassmith]

PA wasn't perfect---- i agree

i mean i haven't made 500 pips or anything but i am up an ok amount--- not sure i never count them

i can still see that people refuse to use the 5 min close to tell them to get out and taking there full stop. My 20 pip hard stop is a disaster stop if you will. It is only there to protect me if it just rips on me when i get in, or if a 5 min bar rips against me without giving me a chance to get out at a better price.

MO, Dragon and I rarely take a full stop---- but everyone seems to take them without hesitation.

a 60 pip stop is nonsense----- unless it is built up from profits---like MO was showing

just bec you have a zl doesn't mean you take the trade---- especially after multiple bars

--- again no one wants to look inside for some reason

-- if you are watching a h4 zl from 8 days ago and trading it off that zl directly----- how do you have momo showing you the way? You don't.


no one should be trading gbp/jpy in my opinion---- at least not yet.

----------- trade the pound, the euro or the ej-- preferably the pound or euro to start


i don't understand a majority of the charts( and reasoning) posted


everything that Dragon and i learned is in this thread---- i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread.

Sorry ES/PIPS,

I'll refrain from posting my M5 stuff. Then again maybe I should be looking inside at the M1 to "look inside" the M5

PLEASE do not stop posting your m5 charts....that is how many get into their trades with least amount of draw down. Yes, using the m1 IF you are only trading the m5 for entries and targets MAY help.

Just don't get mesmerized by all the wiggle action. Stay focused on the m5 closed bodies.

thx

Not much to pick from except 2 early MZ S/R trades long. Here is one My normal trading time looked like crap

[Humble]

I set sell limit on ZL and TP on down ZL and went to do shopping

Way to go lukx!

[pablo101]

...

[cfabian]

Very good Lukx,
As we had that big bullish momo prior your short, I waited for price get in the MZ. H4 momo was long and held profit is in majority in that direction. I entered long based on M5 but price was just stalled in that MZ area. I thought it would move at good speed as there was a high impact news, but nothing happened.

At the end I lost 10 pips and did nothing afterwards but almost sleep (well, I was working tho)... this thread was also very quiet.

Lets see how it goes tomorrow Friday... be careful as there are high impact news on the GBP and USD.

Today too freaking boring.... Is there a bank day in the US or what is going on???????

I guess I should wait until Tokyo or beginning London.

well I somehow pulled 50 pips today, 2 trades for 5 pips on EU and one for 40 on GU. Would be more on EU if I wouldn't chicken out when price was stalling for quite a bit during London.

This was my best trade today and it was on autopilot;)
I set sell limit on ZL and TP on down ZL and went to do shopping