Yeah, per trade. A little agressive I know, but I only take the good ones.
Well, I would PMā¦ But it says you donāt allow PMs. Funny joke. XD āWanna get my Skype name, PM me!ā
Then ppl try to PM, and it says basically āgo away noob!ā
I think itās hilarious. But obv accident. You PM meā¦ If Iām worthy that is.
I canāt access anything either. Maybe I donāt have enough posts. Can you email me at forexfreek17atyahoo.com?
Now I was able to PM you.
Iām not posting a chart to trade off of, itās juts Monday morning, and I though a quick educational discussion might set us up well for the week ahead, by no means Iām declaring that this post will be absolutely 100% correct, but hopefully it will help us all learn a bit more, so here goes:-
(Please forgive my terminology, Iām not big on terminology, maybe I should be, but itās the understanding thatās most important than what itās called)
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This is a bullish bar, but with underlying weakness, there is a bit of a large top wick and the following volumes are low, showing there is no interest to go further up. (But as a by the by, I have been looking at trading these breaks off of my volume predictor, but weāll see if it will work out, itās quite an aggressive idea)
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Tiny weak candle with high volume following the weak push up, a sure sign to go short (But not at 9:40 GMT on Friday!)
(Blue markers) - that just illustrates obvious turning points - high volume small candles, but not in this market, the range of the market is only around 30 pips max, and down 20 pips or so this morning (GMT), so in practice - stay out, itās just not worth it, this is why I have those two blue lines across my chart, they are 16 PIPS either side of the price line so I can tell at a glance what āsizeā the market is.
5/6. On their own these would be bearish push down bars, but they are in the wrong place, this is why you need to understand the context of the market, remember itās not VSA itās VSA,Fibs & S/R.
Hope itās clearing and not confusing, I do have my moments on both sides of the coin, well you know sometimes you can put something up and itās clear as anything to yourself but in actual fact it may well be a trail of confusion.
Hereās the latest version of my session volume indicator, itās like an addiction, I just have to tinker, besides I like the different colours, now it has a Volume Alert, when the volume goes higher than the red line on the indicator it will put up an alert.
SessionVolume.mq4.zip (2.27 KB)
How are you doing Hoss? Good day again? Been a good day for me as I was multi-tasking lol, play with my account as well as demo for fun. Hmm, lately I always missed those runners, hmm, when it start to runs, either it hits my BE or I close the trade too early lol. Today could well be ns day again, huh? :D, volume is smallest around in weeks. I wish tomorrow it moves down like crazy, then moves up late LD session again to become a shakeout day lol
No trades today. I only trade NY. Weird day. Hopefully weāll get some action tomorrow!
ND? Donāt you mean NS?
Same hereā¦so far so good. Weāll see if gets down to the ideal 1.4350 area for entry. Catch ya later on Luiz.
What I hope to see when I get up at 15:00 GMTā¦
Itās earnings season baby ā time for the Euro to give some back
NS, Nero
After I did my post yesterday, I thought it showed a lack of knowledge in areas after a second look, I though it would be a good idea to go through the material again on this thread and Master the Markets, damn good idea, the more you learn the more you understand, the more you understand the more you learn and so it goes.
This is something that is not so valid in my eyesā¦ But oh wellā¦ Anywayā¦ I opened it after price went higher than that small up candleā¦
First, there was wide spread up candleā¦ Not so high volume. Then there started to be some volume. But candle wasnāt wide spread. But I decided, that if next candle goes higher than that, it has pushed thru supply.
Well, next candle was high volume and wide spread. And I was in trade. I didnāt like that volume too much. First my stop was at red line. 20 pip stop. Risking 1 %. After that wide spread up bar with huge volume, I moved my stop 10 pips closerā¦ 'cause if it pushed thru supply, it wonāt go back down. Since there was alot effort, it needs to go up. If it fails, my stop would be closer anyway.
Then there was even higher volumeā¦ Down candleā¦ But it was so small candle. o0 Alot activityā¦ That woulda been last place for me to move stop closer, but since I already did move my stop closer and was risking only half %ā¦ So I let it runā¦
At that point, I had to goā¦ I had some stuff to do. Visit doctor and then take my motorcycle in workshop and then go to eat and then to super marketā¦ etcā¦ So now I just got back few minutes agoā¦ I was SO SURE that my trade woulda been stopped. But LOL!! omg 5 % profit. XD I closed it as soon as I saw price was at highs. XD 100 profit with 20 pip risk. Well, I halved my risk after being in that trade for couple of minutesā¦ But still.
Like I typed in that pictureā¦ Luckā¦ But, luck or no luck. My work week is done. Iāve made already 6.5%. This can easily be my best week ever if next couple of days gives me little moreā¦ But since I got this weekās target profits already, I have no reason to push it.
And donāt forget, more you learn, more you earn. Thatās the most important thing, right?
Absolutely Nero, and good result, you should be well near your target you had for the month.
Also, and I must say I wouldnāt have realised it if I hadnāt reviewed the material, but just previously there is a low volume, low spread test that forms the double bottom, and I think itās very valid too to trade it on the break (itās in the book) these can be some of the best since as you say, it didnāt come back to hit your stop.
hey Nero, if you go to doctor next time, I think this expert might help: BreakEvenExpert_v1.mq4
LOL. Itās break-even expert, for example, you set 20 pips, when your trade is up by 20 pips, itāll automatically lock BEā¦
Well, I could use something like that, Luiz. But I think that wonāt work on my broker. Different platform. =/
Purpleā¦ Itās just that there was so much volume. Itās dangerous to open positions in high volumeā¦ need to see results. I had kinda bad timing. But I had luck in many ways I think.
Good day today. Had a few on the EUR and the AUD.