The idea's we trade by, so we never lose again. p2. The students become the masters
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Time for GU to go up?
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- PeterBerregi
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Nice trade v8
I notice from the above that you don't necessarily stick to the "true" H4 (i.e. the H4 produced by MT4), but will stake out your area of interest by using any 4 consecutive H1 candles.
Is that understanding correct or maybe it's just I'm getting slightly different charts from my broker. I am based in Oz and things are often upside down and back to front in the land downunder
Great to have you back posting
I notice from the above that you don't necessarily stick to the "true" H4 (i.e. the H4 produced by MT4), but will stake out your area of interest by using any 4 consecutive H1 candles.
Is that understanding correct or maybe it's just I'm getting slightly different charts from my broker. I am based in Oz and things are often upside down and back to front in the land downunder
Great to have you back posting
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
AJ needs to breakouy down or find some support and start moving up again
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
PeterBerregi wrote:Nice trade v8
I notice from the above that you don't necessarily stick to the "true" H4 (i.e. the H4 produced by MT4), but will stake out your area of interest by using any 4 consecutive H1 candles.
Is that understanding correct or maybe it's just I'm getting slightly different charts from my broker. I am based in Oz and things are often upside down and back to front in the land downunder
Great to have you back posting
Good eye. I purposely have multi brokers with different start times for there bars to better help see momo at a glance. Remember its not a momo bar were looking per say, but a burst of momo over a period of time (4hr charts just happened to become the most used usually).
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
So tinypic keeps crashing my computer. But here is why a lot of people trading fail at long term. Looks like a perfect weekly mzone setup. But then (missing pic would show) the following week continued to retrace more and then start to go up and the next week contined up. You can check the chart yourself.
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https://charts.mql5.com/12/878/audusd-w1-oanda-division1-2.png
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- PeterBerregi
- rank: <50 posts
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
v8power wrote:...But here is why a lot of people trading fail at long term...
Hi v8. Can you clarify the above statement for me.
Do you mean that people fail to successfully trade with high timeframe charts? Or do you mean the usual trope that most people fail trading in general.
Here is the second chart you tried posting:
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
PeterBerregi wrote:v8power wrote:...But here is why a lot of people trading fail at long term...
Hi v8. Can you clarify the above statement for me.
Do you mean that people fail to successfully trade with high timeframe charts? Or do you mean the usual trope that most people fail trading in general.
Here is the second chart you tried posting:
yES to what you said 1st. Here is the 4hr chart and how it would have played out. First 2 trade setups shown by the 50 fib retace were losers. But look at the 3 rd and 4th fib retraces. Those are picture perfect setups that you could have use a 10-20 pip sl to trade with. The blue lines show you your exits, when price will retrace.
There is one blue exit line I didn't mark. Had you had the balls to hold it the 1st trade would be almost 200 pips, 2nd 175 and 3rd 150. So over 500 pips with a at most 20 pip sl. Even at 1% per 10 pips that is over 50% gained minus the 2 losses. This is how I do it
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
PeterBerregi wrote:Nice trade v8
I notice from the above that you don't necessarily stick to the "true" H4 (i.e. the H4 produced by MT4), but will stake out your area of interest by using any 4 consecutive H1 candles.
Is that understanding correct or maybe it's just I'm getting slightly different charts from my broker. I am based in Oz and things are often upside down and back to front in the land downunder
Great to have you back posting
My Onada chart does have a 4hr momo bar. Not a true mzone trade (candles back to back), but a play off S/R as MO would say
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Another thing I love to use in my trading is the failure of a pattern/setup. There is actually of very widly used pattern that the failure wins more then the actually pattern. So what I do is what for it to fail and then take my easy money. The cool thing aboiut a failure is yuou don't take the trade until it is more then likely to go your way (unless your in congestion). Now if you see this pattern inside itself, then I play that straight and gives me a win of about 9 out of 10. No Im not telling you the pattern
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