I will try and capture at higher resolution. And will eventually do a video or two that will make it much clearer and assist you in understanding my viewpoints.
Price is war...
A market making new highs is rising, Buyers are winning
A market making new lows is falling, Sellers are winning
When is the war on? When are the troops sleeping?
Price is territory that Buyers and Sellers are at War for.
What would be a probable and realistic price goal for the Buyers to achieve if they won the battle today?
What would be a probable and realistic price goal for the Seller's to achieve if they won the battle today?
You will choose a side to be on, you will watch to see who early on is winning the battle, and make your choice, you will know where your choice would be proved wrong, you will expect to take the earliest profit that justifies your risk in relation to the overall goal of the team you have chosen.
If your team is really kicking the other's ass, you might go for a larger portion of their probable win for the day.
If you were wrong, you were wrong, you will fight another day.
You will not become Happy when you win, you will not become Angry when you lose.
You will be right slightly more than you are wrong, and you will judge your risk and reward based upon this fact.
You will gain slow and steady equity.
Trader333
Moderator
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Yes I can see where you are coming from. In your analogy do you also think that at certain key levels there may be reserve troops who could halt an advance or if not at least temporarily slow it down. Depending on what happens here a move to next defensive position is probable depending on the price action ?
Paul
Paul
Price will answer that for you, at any front, especially a front that has had more than one failed attempt, there is a higher and higher probability of that front not being breached, and the advancing troops are forced back, The golden mean is a great tool for estimating how far they will retreat.
I'm sorry if I was a bit rude earlier on. I should have waited to see how you go. I am finding you interesting but I have found others to be so, too, only to be disappointed later.
Anyway, I'm following your posts and good wishes.
Split
trader_dante
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With all due respect, if you are up 35% on your account in a week, then you are risking too much relative to your account size.
You are correct
This account is my aggressive account, a normal or more conservative account is better to gain around 7 to 10 percent in a week ( although higher has occurred). I normally trade at a .1% pip value to the account equity. The reason I am doing this is just to see how long it will work, testing the limits for a breaking point. I have already taken the initial investment back out, so I am trading on profit alone. The real reason it's working is because the trades I am calling have such a high accuracy rate. I really don't think it can get much better than what I have found. It has a lot to do with finding frequent 3 to 1 ratio trades, with an extremely low loss rate. My normal account is seeing a double evey two months or so.
This account is my aggressive account, a normal or more conservative account is better to gain around 7 to 10 percent in a week ( although higher has occurred). I normally trade at a .1% pip value to the account equity. The reason I am doing this is just to see how long it will work, testing the limits for a breaking point. I have already taken the initial investment back out, so I am trading on profit alone. The real reason it's working is because the trades I am calling have such a high accuracy rate. I really don't think it can get much better than what I have found. It has a lot to do with finding frequent 3 to 1 ratio trades, with an extremely low loss rate. My normal account is seeing a double evey two months or so.
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Yen
Although I closed for the long weekend the yen has hit the target area that I indicated.
Based upon my system I will also be watching for a large short trade in the EUR/USD during either the14th or 15th London market hours and if and when it reaches the 1.3450 area upon reversal confirmation.
An earlier retracement from today's upward movement back down to the 1.3314 area my also be traded once movement downward is confirmed.
Although I closed for the long weekend the yen has hit the target area that I indicated.
Based upon my system I will also be watching for a large short trade in the EUR/USD during either the14th or 15th London market hours and if and when it reaches the 1.3450 area upon reversal confirmation.
An earlier retracement from today's upward movement back down to the 1.3314 area my also be traded once movement downward is confirmed.
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