2be
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+11 and +15 pips just as a sweetenerOh no.
Nothing great, but?
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emoun
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:clap:
2be
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If you want to keep the profits from the winning trades, take them with cool.
emotion derived from the winning trade is just as destructive or even more the emotion derived from the loosing trade, the reason being we learn more from the loosing trades then from the winning trades, it sounds strange but it resonates with profitable traders
Another note:
Retracements are traded differently that impulsive move in agreement with a trend on a larger TF. It is like taking a bone from an Alsation. TA tells us that a new L in that case is expected, but the trend fights against it, and guess what, TA usually wins, the new L is achieved, and some traders especially those who can only remember the last three bars, suddenly change opinion, and provide liquidity.
There is nothing unusual in today's PA on indices they are in retracement which the trend on the higher TF does not tolerate that well.
Once that L is achieved indices will fly up again, for sure.
How are you getting along with Oscar?
emoun
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If you want to keep the profits from the winning trades, take them with cool.
emotion derived from the winning trade is just as destructive or even more the emotion derived from the loosing trade, the reason being we learn more from the loosing trades then from the winning trades, it sounds strange but it resonates with profitable traders
Another note:
Retracements are traded differently that impulsive move in agreement with a trend on a larger TF. It is like taking a bone from an Alsation. TA tells us that a new L in that case is expected, but the trend fights against it, and guess what, TA usually wins, the new L is achieved, and some traders especially those who can only remember the last three bars, suddenly change opinion, and provide liquidity.
There is nothing unusual in today's PA on indices they are in retracement which the trend on the higher TF does not tolerate that well.
Once that L is achieved indices will fly up again, for sure.
How are you getting along with Oscar?
Thank you for your reply.
Trading Options like Dow , Dax is something really new to me. I have been trading Forex on higher timeframe before.
The most difficult part for me is Entry. After a falling / rising move I keep wait until price reaches at PA rejection levels. Sometime I enter too early specially Buying when I try to buy the Dip at the earliest. Can you suggest me a safe criteria to enter buy trade after falling move. I use 5 Minute Chart.
Oscar is a very funny guy
2be
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Entry is usually most difficult for beginners, actually as important and in some cases all important is the exit.Thank you for your reply.
Trading Options like Dow , Dax is something really new to me. I have been trading Forex on higher timeframe before.
The most difficult part for me is Entry. After a falling / rising move I keep wait until price reaches at PA rejection levels. Sometime I enter too early specially Buying when I try to buy the Dip at the earliest. Can you suggest me a safe criteria to enter buy trade after falling move. I use 5 Minute Chart.
Oscar is a very funny guy
If anything you use makes your entry pleasurable and very satisfying even from before the beginning, than please be careful. Only very experienced traders can achieve that purposefulness in trading based on the strategy well tested and statistically providing then with an edge. There is something inherent in trading that has to make you entering with the attached risk. A normal person reacts to risk. More you are at home with tolerating and managing risk the better.
Normally the beginner is risk averse when actually one should love it or at least tolerate it, and in reverse beginner is suddenly in love with risk when one needs to be risk averse. (Example: loving risk when moving a SL in a loosing trade, or taking small profits on a winning trade with much more potentials, even well planned potential PT in range which is in a statistically achievable zone)
These are the very basic few observations.
Please read some good books and study them, there is a list of books I posted long ago on the other thread which used to be private. Now you can access it without any permission, if I am correct.
Please take time to study and learning,
Best wishes,
2be
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P
postman
"...If anything you use makes your entry pleasurable and very satisfying even from before the beginning, than please be careful...."
Oi Oi Swiss Toni's in the house.
Another 'manufactured' positive close on the S&P?
I dont know why they bother, who do they think they're fooling?
Oi Oi Swiss Toni's in the house.
Another 'manufactured' positive close on the S&P?
I dont know why they bother, who do they think they're fooling?
Attachments
emoun
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I am learning PA , S/R, Trend Lines, Channels, Multiple TF analysis.
I have been watching Steve Nison Course, Chris Capre, Jarrat Devis, Forex Mentor and Forex4noobs etc.
Can you please provide links of useful resources where i can learn TA. I did not find links of books you mentioned.
emoun
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Sir, Can you please advise me a what you look for entry after a falling move ?
P
postman
The price stops and goes the other way. !
At the moment its really easy. the Dow falls to a level and stays flat for 30 minutes then really really slowly starts to move up. Its been the same for weeks, not 'normal' by any stretch of the imagination. But you have to adapt to changing circumstances.
emoun
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I am particularly asking about normal dips for scalping.
Your both entries for today were owesome.
694 and 697
Both times you enter just at the right time. I think you should reveal your secret and contribute to community and help beginners like me.
SlowlyButSurely
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I am particularly asking about normal dips for scalping.
Your both entries for today were owesome.
694 and 697
Both times you enter just at the right time. I think you should reveal your secret and contribute to community and help beginners like me.
Often it is intuition, something hard to put in to words, but often a pattern in the way price is reacting that indicates price is likely to reverse. Time in front of the screen is the only way I learnt about reading into PA
P
postman
I am particularly asking about normal dips for scalping.
Your both entries for today were owesome.
694 and 697
Both times you enter just at the right time. I think you should reveal your secret and contribute to community and help beginners like me.
Endless, endless hours in front of a tick chart with a one minute chart to back me up. Let your subconscious do the rest.
Whatever I do the Dow and Dax is on screen from 6am to 11pm. Unfortunately people dont want to hear that, they just want to know what web site to visit so they can spend 30 minutes reading and get rich quick.
There, the 'secret' is out.
emoun
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I can identify PA on Key S/R levels.
Double Top is a good entry point if price is likely to drop like you were trying to enter short as high as possible. Entering Long is far more difficult because price creates new support levels. I sometime miss a buying move waiting for double bottom.
I am learning from you guys.
P
postman
There you have it! From 2 different sources, we didnt confer beforehand, thats how it is.
