Redsox11's Posts
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Pipsbasketings:If it regularly nip your SL and go to the intended direction. Just a suggestion, why not put another entry right at your SL area with a very tight stop (extra 10-15pips.. would make for great R:R). Just a suggestion as you'll have a better idea than I do. |
Holding... Thinking of taking one off before any major retrace. KISS (Keep it Simple, Stupid) , when I'm over thinking things.
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The thing is, I take hit (SL) every now and then as it's part of the business , but my entry are usually tight. If I successfully deploy my entry, I usually can have something of 1:5 to 1:10 ( R:R ) SL not more than 10pips above or below hourly chart, usually. Ps: GCAD- Hourly and 15mins chart. Pps: I usually just trade what I see and try not to be married to my trades, so I move with with the flow. If I'm wrong, I take a small loss and move on to the next.
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Was in GU too early, should have waited to see some wicks on the hourly chart before entering. Took some trades off, to replenish the account. I'll leave the rest as free trades.
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redsox11:All trades stopped out @ Breakeven... |
Holding from yesterday, recon some will take me out @ Breakeven. I'm going to have to sit on my hands now " saving my ammunition ", as I'm not seeing high probability entry (I rather take A+, B+ entry and lose the trade , than enter a C- trade and win... Building bad habits.)
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18. I remember placing another position when price retraced to 50% of candle 17. However didn’t know it will close around that area. Uh oh. 7th position is now in danger. Im watching carefully now. 19. I really want to see price close below candle 18 as a engulf pattern. Please please please. Hmm.. it does close below 18 but it doesn’t close below 17. Looks like a stall. ** Price all over the place, ascending wicks, double top wicks ** I need a clue very soon or I will start to close my legs. 20. Not good. Alarms ringing. 3 up candles with price closing over previous down candle of 19. This is not a good sign. My only saving grace is that the price did not close above 17. My 7th is now in danger and now Im going to get ready to close it if price moves sharply. Finger already on enter button here. 21. Hmm.. Engulf pattern. Buyers chickened out. Sellers pushed it down and closed below 20. Good sign but I want to see other sellers also seeing this. Post later.
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12. Uh oh. Price closed above the previous down candle. Not good. Is this the end to my 2 positions? Price couldn’t close above uppoer wick of 9. Still ok. 13. Hmm... down candle? Closing below candle 12 the up candle. Good Good Good. 14. And there. Breakout again. My 2 positions was never in danger. Now I want to stack more 15. I notice ema crossed over and now a gap is opening indicating strength between 5/10ema. Good Good. Price opens and retraces up. Excellent I say. As long as it doesnt close above the previous 14 down candle. Since this is fresh momentum. I add 1 position at open and another just around 50% fib. Need to be quick on fingers. Now 4 positions and I will close out 3rd and 4th position if price closes above candle 14. 16. Big rush down and I didnt want to add another position at open. Thats overexposure. No retrace but I note the very short uppoer wick of the previous candle. Not even 33% indicating sellers are well in charge with good strength (which also means other sellers are jumping on). Candle 16 retraces and I add another position at around 50% and ready to close this position if price closes above the previous down candle. 17. Goody. 5 positions and all ok. Candle 17 another retrace to 50% another position and finger ready to close it if price closes above the previous candle 16. If price closes above 16 I will most likely close this one and the one just before just to minimize my risk little further. Total 6 positions. Now every tick is worth 6 pips for me. Continue on...
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7. I do not want to enter at open of this candle as the stop loss is larger than what I think is required. However, yesterday I did (we will come to this later and the reason I entered sell at the open of candle 7 is because I had hindsight from higher timeframe). Price retraces past 50% of previous down candle. Uh oh. And then bounces off at open price of the previous candle. Yes, seen that all too often and another position around there. 2 positions on single 5min candle. This means im very confident but will not risk any more until something better comes out. 8. Im expecting a big drop of price. It doesnt. Uh oh. My only saving grace is the descending wick pattern. Still ok. **As long as price doesnt retrace and close above the breakout I will wait. Dont need a hard stop loss yet** 9, 10. I notice the price is now stalled again in this mini range. Another support happening below candle 6,7. Not good but not bad. 11. I still see descending wick pattern. Buyers are away for now.
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Price Interpretation. (Same chart - the break down ) 1. First candle after flying buddha. Does not close below or above the s/r 2. Buyers pushed up but couldn’t close over the previous down candle. Sellers still in charge but support not broken 3. Sellers push and break the support of candle 1 and 2 but not flying buddha. This is good sign. 4. I notice open price is same as the low of lower wick of candle 1. Buyers push up but close at 50% fib of candle 3. Not enough power from buyers. Goody. 5. Buyers gather strength to push it up but all they create is a wick. This new wick creates another descending wick pattern. Getting better. 6. Clear breakout of support from flying buddha and closing well below it. Now I know sellers in charge. Continuing on..
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meshpips:Sorry I saw your earlier message, nice one . Will Post few chart, something that helped me in the past . Might help someone. Helped me with price interpretation in the past. I’m not sure it’s for beginners though. |
Used 1 hr hindsight to enter the trade on 15mins, seeing all those wicks. [color=#990000][/color]
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Got stopped out on EN but took took some profit off GCHF "missed another Sell Limit with a tight stop" and left one trade running, targeting some 160+ pips, it's a free trade ( as SL is set to breakeven)
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meshpips:How did you manage your NZDUSD trade? With that huge spike up, could only escape that if you don't have a SL set in. Great call on XAUUSD, even fell some more.
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Update so far...
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Experimenting on the side with Graeme Millipede. Will make you develop no itching fingers. Mainly setting your trade at breakeven asap and letting market decide. No TP usually, but minimum is TP is 1 1/2 -- 2 weeks . I'll update once in a while, will still update if the experiment eventually turn out bad.
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Wasn't 100% sure but I thought that was Igbo language if I'm not mistaken. http://couch-tuner.city/5/american-gods-s1-e2-the-secret-of-spoons/
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JLINE:Fantastic JLine. Keep doing what you do. |
JLINE:EA(script) to manage trades, yes. Not program robot to enter trades and exit trades that you prolly use too. I know what you see is mind bending, so that's totally okay. |
Not mine, just to inspire. Endless possibilities. Happy Trading Y'all.
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wickyyolo:I think " YOU " are the Holy Grail, not some system per say. To inspire-- Endless possibilities. .. Copied.
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JLINE:It's actually manual trading, not some bots. Of course you can have EA to manage you trades, after entering manually.
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Copied- " I missed 3 golden ops to take this account from 50k to 7 figures in less than 24hrs.... but it shows you what you can do when you really "see" what's going on behind the glass... You have to start thinking like those on the other side of the glass do...they are PAID to take our money....all of it. You MUST quit thinking like every other person on this side of the glass as they are the ones, 95% of the time, that lose ALL of their money... if you can not do this, then don't trade because YOU WILL LOSE ALL OF YOUR MONEY! " Not mine, just to inspire. Endless possibilities.
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coogar:Hi coogar, I have been trying to get a hold of you, some things I'd like to discuss with you outside here. I could write to your email address or something. Mine is @ yahoo.com or bbm - 5903604 Cheers. Ps: Mostly business. |
Naturalized: |
Naturalized:Hi Naturalized, I have been trying to get a hold of you, some things I'd like to discuss with you outside here. I could write to your email address or something. Mine is @ yahoo.com or bbm - 573604 |
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