MajorMagnuM
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sl hit on remaINDER
2 39 pm
EU
need 2433 and 36 to be scalp buying now - or even holding any on from 2407 low
No 2433 and 36 - then further tests of low and maybe under 2400
EU comment from over 30 mins ago
we so far have made 2434 - so not high enough
We now know above 2417 - still another scalp buy
so we might end up as a BTTZ from say 16/17 to 37 / 38 - ie 20 pip range
Over 38 + easy - more scalp buys
Under16 and 2406 - more scalp sells
In between 16 and 38 - scalp for 3-7 pips or leave until clarity
AU
2 45 pm
In a BTTZ
Needs either above 8725 and 30 for more scalp buys
Or - under 8688 and 80 to hold scalp sells
In between - then scalp for small pips - or end up being tricked
got that one
Good morning from here....
F
Would you have taken those trades?
And do you suggest me finishing reading the other thread?
(sorry the last short BO is on the hour)
Fz
@F: I was not around at the time, but in hindsight, notice you were quite correct about Draghi!
In other news, the Chinese interest rate drop boosted commodity currencies, apparently.
Only lurking and demo-ing for now, but following (when time allows) with great interest. Glad you had a good week! :clap:
Hi Fz
Yes
Looking at your BO trades - they make sense and you have enough clues - or reasons to say that the probability would be maybe over 65 -70 % and with tight stops you should end up with positive RR's with anything over 2 or 3 being very good
With the other thread - You can easily cherry pick out all my comments on my method maybe in less than 20 or 25 pages - and so it should not take you long hrs or days to suss through it.
The problem is then - too put it all into practice then takes many weeks and months etc - ideally on demo or very low live mini stakes and then after say 500 trades - say 3 -4 months of carrying out try live - whilst ensuring you have a win ratio of over 65% on every 100 trades with stops under 7 pips.
When you have at least another 500 trades with good results - within the guide lines of win ratios and using tight stops etc then you should be ready.
It took MM approx 6 months to get there with going live etc and then he would have the odd bad sessions with say 5 or more bad scalps than would set him back etc
He persevered and I am sure as now cracked it - even getting some trades on only 2 -3 pip stops including 0 5 pip spread - ie that good on timing
I had told him now every 1000 live trades he now takes - he averages 10 -30 per trading day - so full time say another 3 -4 months he should see improvement again
If you have the time and the commitment - the end results are well worth while - I am sure MM will find that out over the coming years
Regards
F