Quote:
Originally Posted by basomakm
Thanks tlindle
1-Do u mean if i'm using 15min chart have to use 1hour chart and so on ... ?
2-I choosed the right IB or not ? i was wrong coz only i go against the trend ?
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Well it's tough to say exactly why your trade went bad, but going against the trend could be a big part of it. Here's a real life example where going with the trend saved me some serious dough, happened just a few minutes ago. EUR/USD 15 min. chart.
This chart signals a good entry according to James's system. We've got stochastics coming around below twenty, a perfect IB formed and the following candle has moved up a few pips. Time to go long!
But first, let's check our one hour chart and see what the overall trend is. Hmm, the trend is clearly moving down. According to our rules, we should only go short. Guess we'll stay out of this one.
Great idea! The trend wins, and the price falls RAPIDLY. If you hadn't set a stop-loss and went to the kitchen to make some lunch, you would have been in real trouble!
Hope this makes things more clear. Like I said before, it is certainly possible to trade against the trend. James does it every now and then in his live trades. But, unless you have a real feel for the market it's best to always trade with the trend.