Hi Folks,
We thank God for seeing us through another week and bringing us to a brand new week.More profits ahead,fellas.
Quote:
Originally Posted by TheRumpledOne
I think I understand 
My question is that your numbers always have a 1.5 : 1 risk/reward ratio but in your posts you talk about 2.5 : 1, can you
elaborate? |
Hi, The RumpledOne,
It seems I've been misquoted in a way...from what can be remembered,I'm not sure we talk about 2.5 :1 ratio in my
posts, just a 1:1 and 2:1 risk reward ratio.Maybe you could check again and help bring that quote for us to see. But in
actual fact, I'm trying to write on Risk Management(including Risk to Reward Ratios) in my subsequent posts.
Stay tuned, mon ami.
Quote:
Originally Posted by TheRumpledOne
Now, I am not clear that I fully understand. :confused: |
Neither do I ,mon ami...Seems you are about to RUMPLE UP my brain cells, RUMPLED ONE...lol...
Anyways, from what I can see, you are using SUPPORT AND RESISTANCE (or is PIVOT POINTS?) on the 15min
GBPUSD chart. But at the point where you( or the robot) wrote ''1.8681..go Long) was quite erroneous because you
would have lost close to 81 pips if the trade was triggered at that region.
The long bearish red candle have broken below the 1.861 support and the greenish bullish candle next to it closed below
the low of the previous bearish red candle. So there was no reason, technical analysiswise, to go long at that
region,RUMPLED ONE.
At the point where you (or the robot) wrote ''1.8607 SUPPORT'', the long red bearish candlebar has already broken it,
turning SUPPORT TO RESISTANCE at that point. And if you could observe, price did not in any way CLOSE above
''1.8607 SUP'' line to warrant a decision to buy or go long at that point. That point was then a RESISTANCE POINT
like a ceiling above. What would have being on our mind during price action was to SELL...GO SHORT. And you
would have made up to 81 pips from that bearish bias.
I sure hope you didnt take that long trade that was shown on that chart, RUMPLED ONE. If it were an Expert
Advisor(robot) that triggered it, it wouldnt have been funny,my friend, cos of the losses that might have been incurred.
I want to give thanks to Steve Nison for bringing the ''CANDLESTICK PATTERN'' to the Western Hemisphere from
the East (Japan). And I recommend the book for anyone serious in making money from trading.
Please feel free to ask any questions or make comments.
Thanks...
Stallion..