Three Charts

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jrtrading
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Re: Three charts

Postby jrtrading » Wed Sep 30, 2015 10:11 pm

AUD/NZD - attempting this one

AUDNZD.afxH1.png
AUDNZD.afxH1.png (19.06 KiB) Viewed 366 times

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MightyOne
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Re: Three charts

Postby MightyOne » Fri Oct 02, 2015 4:08 pm

Well, are we going to get an update? :)

jrtrading
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Re: Three charts

Postby jrtrading » Fri Oct 02, 2015 4:15 pm

MightyOne wrote:Well, are we going to get an update? :)


Space was and then was no more.

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MightyOne
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Re: Three charts

Postby MightyOne » Fri Oct 02, 2015 5:19 pm

jrtrading wrote:
MightyOne wrote:Well, are we going to get an update? :)


Space was and then was no more.


Price moved up what...60-70 pips?
Price was ranging
Daily hadn't really closed higher than anything.

The best you could have done was to increase your unit size and get out.

When you get to 8x min. size ($min) then you might consider holding a bit longer.

Don't trade for pips, %goals get closer because of lot size.

Lastly, lock in a few pips so that you can take a short term trade to regain space
if price comes back on you.
Prior to a doubling you need to lock 8-10 pips
&
after you double you only need to lock 5;
if you start with your space slightly beyond the extreme then this shouldn't be a problem.

jrtrading
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Re: Three charts

Postby jrtrading » Fri Oct 02, 2015 6:54 pm

I was lost and then I was found.

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Re: Three charts

Postby jrtrading » Fri Oct 02, 2015 6:55 pm

MightyOne wrote: Price moved up what...60-70 pips?
Price was ranging
Daily hadn't really closed higher than anything.

The best you could have done was to increase your unit size and get out.

When you get to 8x min. size ($min) then you might consider holding a bit longer.

Don't trade for pips, %goals get closer because of lot size.

Lastly, lock in a few pips so that you can take a short term trade to regain space
if price comes back on you.
Prior to a doubling you need to lock 8-10 pips
&
after you double you only need to lock 5;
if you start with your space slightly beyond the extreme then this shouldn't be a problem.



Thx. :)
Edit: Really appreciate you taking the time to write these replies.

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Re: Three charts

Postby jrtrading » Sun Oct 04, 2015 12:44 am

Since this is a thread about what I do, good bad or awesome, here is an update of my plans.
I have been using a trading simulator and want to have it as a routine at night, not trading but only watching price.
One can speed the candles up as desired, so it is not like watching paint dry.

This may help my focal interpretation, where likely the magic is..
I will let you guys know how it works out.

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MightyOne
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Re: Three charts

Postby MightyOne » Sun Oct 04, 2015 10:20 am

jrtrading wrote:Since this is a thread about what I do, good bad or awesome, here is an update of my plans.
I have been using a trading simulator and want to have it as a routine at night, not trading but only watching price.
One can speed the candles up as desired, so it is not like watching paint dry.

This may help my focal interpretation, where likely the magic is..
I will let you guys know how it works out.


Technical analysis is only 10% of trading.

The market moves a hundred or hundreds of pips each day.
If price is closing above "something" then price is not moving toward your stop.
If price is not moving toward your stop then it will fill the range away from your stop.
If price moves toward your stop then get out :wink:

There is only so much that the range can expand in a single day and the market knows this...
just take a look at the price action:

GBPUSDecnM2.png
GBPUSDecnM2.png (37.1 KiB) Viewed 208 times


Large chart stop locations, hourly/daily/weekly ranges, position sizing & money management;
take these things away and there is no 'magic'. :shock:

You don't have to stare at charts, you can start making money today simply by trading with the numbers.

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Re: Three charts

Postby salezyakuku » Sun Oct 04, 2015 11:10 am

jrtrading wrote:Since this is a thread about what I do, good bad or awesome, here is an update of my plans.
I have been using a trading simulator and want to have it as a routine at night, not trading but only watching price.
One can speed the candles up as desired, so it is not like watching paint dry.

This may help my focal interpretation, where likely the magic is..
I will let you guys know how it works out.


Which trading simulator?
"I only see my goals, I don't believe in failure 'Cause I know the smallest voices, they can make it major"

jrtrading
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Re: Three charts

Postby jrtrading » Sun Oct 04, 2015 11:32 am

salezyakuku wrote:Which trading simulator?


Hi salezyakuku,
It is Forex Tester 2, I have had it for quite some time now but not sure if I can recommend it or not.
I think it has helped me but not sure.

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