I trade only the European opening I will not trade more than 4 hours, I am also based in Oceania and when is late I like to rest or relax, sometime when I take partial profits at the next level moving my SL to BE I find a nice surprise in the morning with my remaining.....not always but enough.
not there yet?
cup of tea.....
itspossible
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Im looking at trading for 30 mins only.If that method doesnt work-sod it
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made 43 pips on 11 pips risk, not partial profit taken, just under 4% gain, a generous day.....
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Im looking at trading for 30 mins only.If that method doesnt work-sod it
Hi amico, 30 minutes is good, because it filters to you the bit and pieces.......
You have to consider that 20% of the time the high/low of the day is made in the first few hours, it is more common for market to revese the opening than continue, if market pushes price up and at a level makes an healthy reversal on the 30 minutes, you would be wise to place a sell stop order below that reversal bar, it could be the high of the day.......
Once you gain confidence in this particular stile on the 30m, then you will start to take trades also on a smaller time frame or viceversa, I mean.... in the case of today EU trade I entered after the 15 bar because the 5 bar did not convince me in his reversal, the 15 did convince me considering the fact the GU was already going down strong...as a correlation. If the 15 was not convincing I would probably look at the 30m TF next....normally if the bucks stops there (30m bar) it would print a nice pin bar.
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itspossible
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i have entered the position 3 times on the demo and i have had the opportunity to take pips on all 3 occasions.it may be best just to take them quickly otherwise they turn negative and then usually come back.still learning and trying to get the bigger moves.time will tell
i have entered the position 3 times on the demo and i have had the opportunity to take pips on all 3 occasions.it may be best just to take them quickly otherwise they turn negative and then usually come back.still learning and trying to get the bigger moves.time will tell
if you make them quickly make sure you are not losing more when you do lose on average, if that is the case your risk has to be very little .
On the 30m the technical risk is about 10-20 pips and you have to work on that.
EU has a daily average of 100 pips, if you are right 50-60% of the time by catching half of that average you will be alright by taking 1-2 trades per day.
Said that you have to invest in yourself how to learn to back off when it is not working or when you are reading it wrongly, because you will be reading it wrongly..... but less as times goes by as you remain loyal to your plan and objective.
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EU 30
My view on the 30m.
Took a short on the 5m, my risk was about 8, but I closed the trade with +1.1.
The 5 was already not very convincing, the 15 was but did not trade below as well as the 30m, so I got out.
She went into tight range, into range best is to buy low and sell high and to to do that I need to trade the 1m TF which I do not feel like doing it.
My view on the 30m.
Took a short on the 5m, my risk was about 8, but I closed the trade with +1.1.
The 5 was already not very convincing, the 15 was but did not trade below as well as the 30m, so I got out.
She went into tight range, into range best is to buy low and sell high and to to do that I need to trade the 1m TF which I do not feel like doing it.
Attachments
and more:
"Positive images help you adhere to your trading strategy in the face
of the stress of day-by-day trading. Most successful traders I know
pay close attention to going past their psychological stopping points.
Over time, they have learned to face their anxiety and keep trading
their strategy rather than retreat to their comfort zone. They have
learned to interpret their fear as excitement and as a signal for action
and to believe that opportunities abound on the other side of the
anxiety. Further, they have also learned that breakdowns or errors or
bad trades don't reflect on their ability or self-assessment but are actually
the stepping-stones to breakthroughs and extraordinary results.
Rather than retreating from uncertainty, they view a loss as an
opportunity".
"Positive images help you adhere to your trading strategy in the face
of the stress of day-by-day trading. Most successful traders I know
pay close attention to going past their psychological stopping points.
Over time, they have learned to face their anxiety and keep trading
their strategy rather than retreat to their comfort zone. They have
learned to interpret their fear as excitement and as a signal for action
and to believe that opportunities abound on the other side of the
anxiety. Further, they have also learned that breakdowns or errors or
bad trades don't reflect on their ability or self-assessment but are actually
the stepping-stones to breakthroughs and extraordinary results.
Rather than retreating from uncertainty, they view a loss as an
opportunity".
tokyojoe
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Hi M
Hello Fugazsy, great posts, your positive outlook will rub off on those that care to take notice.
I have decided to go into the new year by only taking positions between 8am & 9.30am, then 2.30 to 3.30pm, approx 2.5 hours per day, I know what I'm looking at now & seen enough to know that staring at a screen all day is not for me.
I have completely unshackled myself from the need to be knowing what is going on all day.
I've cut my time to the bone, as I have to be realistic re opportunities, I could easily just say I'll only do the first 20 mins of the two opens, but it's just not realistic in the long term.
Ps good luck to ip with his new plan, I think we are on the same page with not caring what goes on when we're not in our time window.
Good luck all for the new year
Hello Fugazsy, great posts, your positive outlook will rub off on those that care to take notice.
I have decided to go into the new year by only taking positions between 8am & 9.30am, then 2.30 to 3.30pm, approx 2.5 hours per day, I know what I'm looking at now & seen enough to know that staring at a screen all day is not for me.
I have completely unshackled myself from the need to be knowing what is going on all day.
I've cut my time to the bone, as I have to be realistic re opportunities, I could easily just say I'll only do the first 20 mins of the two opens, but it's just not realistic in the long term.
Ps good luck to ip with his new plan, I think we are on the same page with not caring what goes on when we're not in our time window.
Good luck all for the new year
Hello Fugazsy, great posts, your positive outlook will rub off on those that care to take notice.
I have decided to go into the new year by only taking positions between 8am & 9.30am, then 2.30 to 3.30pm, approx 2.5 hours per day, I know what I'm looking at now & seen enough to know that staring at a screen all day is not for me.
I have completely unshackled myself from the need to be knowing what is going on all day.
I've cut my time to the bone, as I have to be realistic re opportunities, I could easily just say I'll only do the first 20 mins of the two opens, but it's just not realistic in the long term.
Ps good luck to ip with his new plan, I think we are on the same page with not caring what goes on when we're not in our time window.
Good luck all for the new year
Hi M
Where have you been? We all missed you here
To me it make sense what you just wrote as usual.....
The opening have more volatility and can be much easy to read for certain traders, during the middle of the day the pattern are the same but are much slower and can end up easily in "nowhere" which can automatically bring in a bit of frustration....
It seems a good plan, I am sure you will find your way and tune to it, I know you work hard and it is just a matter of time before it is payed back yo you.
I reckon Impossible will be fine also, he just needs to find his own way.
Best wishes to you mate for the new year, this is going to be a great year.
EU, 15m
ok, has finally moved, but I would not take trades like this and hope, the only confirmation is on the 15m TF and the RR to the next level is less than 1:1 (if it gets there), I could be wrong but that is another story.....which I do not care about.
Attachments
eu 5m
One trade and the first of the year, entered on the 5m. Made just above 100 pips on less than 20 pips risk.
Did not take any partial profit at my next level, some how I knew I got the high of the day, of course nothing for sure but the facts were there and when it got to the my next level I just moved my SL to BE and went to bed.
One trade and the first of the year, entered on the 5m. Made just above 100 pips on less than 20 pips risk.
Did not take any partial profit at my next level, some how I knew I got the high of the day, of course nothing for sure but the facts were there and when it got to the my next level I just moved my SL to BE and went to bed.
Attachments
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took a little trade on EU short as a breakout pullback on the 30m TF risking 15 and made 19, the move started way before my entry and I took the full amount off at the recent low....... based on technicality this might turn or stall..... I say it might....
Now she made a LL
Now she made a LL
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Chart. Done
Attachments
and more.....
Positive images help you adhere to your trading strategy in the face
of the stress of day-by-day trading. Most successful traders I know
pay close attention to going past their psychological stopping points.
Over time, they have learned to face their anxiety and keep trading
their strategy rather than retreat to their comfort zone. They have
learned to interpret their fear as excitement and as a signal for action
and to believe that opportunities abound on the other side of the
anxiety. Further, they have also learned that breakdowns or errors or
bad trades don't reflect on their ability or self-assessment but are actually
the stepping-stones to breakthroughs and extraordinary results.
Rather than retreating from uncertainty, they view a loss as an
opportunity.
Positive images help you adhere to your trading strategy in the face
of the stress of day-by-day trading. Most successful traders I know
pay close attention to going past their psychological stopping points.
Over time, they have learned to face their anxiety and keep trading
their strategy rather than retreat to their comfort zone. They have
learned to interpret their fear as excitement and as a signal for action
and to believe that opportunities abound on the other side of the
anxiety. Further, they have also learned that breakdowns or errors or
bad trades don't reflect on their ability or self-assessment but are actually
the stepping-stones to breakthroughs and extraordinary results.
Rather than retreating from uncertainty, they view a loss as an
opportunity.
