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Good morning everyone. Here is ny chart of today's 2 trades. LONG DAY!!!!!!, but worth it. Once again a combination of knowing the intraday information from IDT, in combination with a reliable trading system parameters.
I use a combination of 30 and 15 min. charts for holding my position and exits. And 5 minutes with 15 min. charts to pinpoint my entry. So Far so good.
I did had a loss of $250 during the last buy, bu trying to call a "TOP". WELL, As the rules states it. NEVER TRY TO CALL TOPS OR BOTTOMS, Eventually they will kill you.
So, I reverse at my mistake and re enter in the direction of the up inmediate trend. So, for today I got
61pips down
78 pips up
-25 pips down.( douring the 78 pips up move)
Total of 114 net pips PROFIT.
Cheers and happy pippens
Over and Out.
Omegavus,
could it be possible to post indicators, or just give me the settings and names of them, I want to see what you are seeing. that would be great.
Thank you
This is going to be a GOOOOOODDD One. Since I got stoped out twice with 25 pips each, on previous sell opportunities. I need to recover on the short side "calls" so I'm short 2 lots from 1.9870.
Although I did went long last, and made nice profit, I was still BEARISH on sentiment, since 2 days ago. That's the reason for such a strong break to the downside. Market makers were holding and collecting on us again.
Meanwhile, while everyone was making money one way or another, back on planet Boho, a sleepless night without a trade - too gun shy to take any, long or short, even with the writing on the wall!
Guess that's what being a newbie is all about - watch and learn and learn and learn and when the confidence is not there, it's better to stay out/paper trade
Meanwhile, while everyone was making money one way or another, back on planet Boho, a sleepless night without a trade - too gun shy to take any, long or short, even with the writing on the wall!
Guess that's what being a newbie is all about - watch and learn and learn and learn and when the confidence is not there, it's better to stay out/paper trade
Boho, I spent about 18 months paper trading and still do some times, when testing new parameters. Keep it up, BUt you have to play on the real trades as well. Let me give you my own example.
The last 2 days I tried to short on what it looks like a Great set up. It didn't played as planed, Even though all of my parameters were in agreement. So I got stopped out on 25 pips. Then I tried for the second time, since the market went up for no more than 50 pips, wich is considered a stoploss hunt strategy from the Market Makers. I did went short, but this time since the indicators were kinda mixed between the 4 hrs and 30 min charts, I played safe and went on to place one mini lot. I got stoped out again, but it was only for 28 pips on a mini lot. You, see I got to keep my strategy intact, even though I'm getting stoped out, but I'm keeping my METHODOLOGY TRUE and CONSITENT. I played this morning trade with the same analysis. But this time, I knew there was two reports coming out, wich could have a conflicting data. So, I waited for them to come out and then implemented my trade analysis 15 to 20 min, later. And it worked out.
So, the idea is to Be Truthfull to your method, System Indicators, whatever you use, that gives you a reliable entry - exit indication, but STICK WITH IT, if you keep changing it, it will kill you.
P.S. As of right now: 1:09 pm, the market has retraced to the 38.2 and 50% ret levels, after a great run to the downside, this is consider a goo sell entry point. Look for the 5 min RSI to go short and a retest to the low of the day, as target price.
__________________
Remember:
What makes money on a real METHODOLOGY, is the SYNERGY of the right indicators, and the correct INTERPRETATION of the trader. Be part of our exclusive community at www.ForesightFX.com. Markets can be Predicted: www.ForesightFX.com/squeeze1
This is something I learned from my mentors, wich actually, some of them are Money Managers and Market Makers. :
it's not the number of trades you make that
matters, it's the quality of the trades you do
enter that determines how good your results will
be...
__________________
Remember:
What makes money on a real METHODOLOGY, is the SYNERGY of the right indicators, and the correct INTERPRETATION of the trader. Be part of our exclusive community at www.ForesightFX.com. Markets can be Predicted: www.ForesightFX.com/squeeze1
Just for information. My targets to the downside are :
1.9845 then 1.9825
I'm still bearish in this big retrace after the sell off.
I do got out on one contract at target 1.9685. Filled.
But got Screwed on the second. because, when I came back the market went back to fast. So, Still short with loss on my second contract from Friday.
I shorted at 1.9870.
So, I got 95 pips on one contract, but loosing 5 pips as of now on the second. I lowered my stop to just abouve the top of 1.9885. Stop is at 1.9889.
Over and Out
__________________
Remember:
What makes money on a real METHODOLOGY, is the SYNERGY of the right indicators, and the correct INTERPRETATION of the trader. Be part of our exclusive community at www.ForesightFX.com. Markets can be Predicted: www.ForesightFX.com/squeeze1
I got Stopped Out. at my Stop of 9889. Loss 19 pips.
Since the 4 hr was bullish at the Frankfurt open, I was expecting a Stop Loss Hunt as always. So, After the minor decline on the Open, I went Long 2 lots at 1.9865 after RSI was at the 40 level and my Dinapoli Stochastic indicator gave a buy signal and prices bounced off the 200 MA exponential and Midle Pivot Point 9862 as well.
My upward targets were:
Price Targets:ALL OF THEM REACHED
Target 1: 1.988672
Target 2: 1.9902
Target 3: 1.992672
Exited at 9925. Total Profit of 60 pips (x2 cts)= 120 pips!! $1,200.00
__________________
Remember:
What makes money on a real METHODOLOGY, is the SYNERGY of the right indicators, and the correct INTERPRETATION of the trader. Be part of our exclusive community at www.ForesightFX.com. Markets can be Predicted: www.ForesightFX.com/squeeze1
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