[QUOTE=EnPoint;280654]You are well on your way, young grasshoper! lol
Thanks for the heads up enpoint,
I looked at the second EU short as you did, but chickened out of it - still a bit green. The volume bars on Oanda europe showed 3 larger ones on M5, but clearer on M15.
Should have taken it as I’m on demo.
Cheers
On your first trade did you enter as soon as the upthrust happened? My point is there is no way of knowing whether that up thrust is buyers absorbing sellers or sellers absorbing buyers. Some times you will see such upthrust with high volume, especially in this case where the bar closes as a bull, and then you might see the next bar will be another upthrust with another up close, and another and another (usually in areas of S/R on smaller timeframes) and this is SM absorbing sellers slowly pushing through supply. This is why I think it is better to wait for a confirmation or retest, as happened in your 2nd entry. 
Just my humble junior opinion
I was watching this one last night and decidie to take the trade on the close of the bar after the upthrust. My opinion was that bar closed as a bearish candle and had the sellers in control, so was going to drop in price, which it did for me
Same further along with the two large pins with buyers overwhelming the sellers. The second pin there showing highest volume for 14 candles. Proved to me (in my opinion) that the buyers had come in and taken out the sellers.
Just my opinion though
How big is a typical SL for you guys? I’ve been stopped out of 8 trades in a row the last couple of days, It’s really frustrating as the market usually turns right after im stopped out. I usually use a SL of 15-20 pips. Today I had a SL of 30 and got stopped out 6 pips before the market turned and hit what should’ve been my TP.
I woke up for NY and looked what happened in London. I marked the highest volume bar of London (which was confirmed weakness) so I started keeping my eye out for shorts. I didnt see any buying pressure on the .3690 line and .3700 has been a tough cookie to crack so anything above that, I was looking for shorts. And I noticed what I said was wrong. I got in on the bar before the 1st upthrust. My TP wasn’t set which it would of hit (I use 20 sl, 20 tp most of the time)(stupid error) so the second upthrust took me out but I got back in on the close of that bar.
Well, what was your reasoning behind it? Then we can go from there.
Mines usually about 20 on aggressive entries and have been as low as 8 on ND/NS conservative entries. I never have a stop above 20.
I actually got a little impatient with this one. (I took some time off of trading and lost some discipline 
)
I marked highest volume bar of london… price went up some 40+ pips… some buying power… Looked for entries at this/around this level. I wanted price to close .3636 which it did a few bars later, but instead, I got in on the thrust. My stop was missed by just a few pippettes… yikes!
Half off at +20… Letting the rest run
Also just realized that the FOMC minutes are today. Looking to exit soon as positioning can start soon and price will be all over the place. Lets see how .3690 holds up.
Out at .3677 … Looks like sellers creeping back in at .3690 … I’m done for the day and will just watch the chaos
Thanks
Could someone please comment these trades I made today?
First trade. Used too small SL of 10 pips and got stopped out, turned around a few pips later… Anyway, is this correct?
Second trade. Got stopped out here too with a 30 pip SL and yet again turned a few pips later… Would this be a correct enter and was this a no supply I entered on or am i totally lost here?
Would really appreciate some thoughts on this, thanks!
Today was just mad. Especially couple minutes before I wrote this posts … The market behave so strangely I felt a big urge to do something really silly. I trade forex for over a year and I’ve never blown an account. I’ve NEVER even risked more than 2% of my account!.. So I felt like a weirdo… not doing those rookie mistakes. So I got in UCAD today… trading big positions… got whipsawed around and ended up with one of the biggest loses I’ve ever had.
Anyways… I don’t feel like a weirdo any more and I will start following my plan again :). This is just my micro (real tho) account so I took it as a price for a lesson. Just letting yall know that forex traders may seem a little crazy from time to time.
On tje first one, the next move down hadn’t start yet… Looks like it was abaorbing orders at that level… I like the move down to start then get in on a small pullback…
On the 2nd you have a downtrend right behind you… Also, the widespread bars behund your entry hadn’t been tested yet. That entry was pretty aggressive. You want it to test to see if its buying, then wait for a break abovw the minor resistance and then look for a no supply into this zone. Which actually happened 5 bars before tje end of the pic. In both cases, you didnt allow price to collapse on your order to confirm the nd/ns. For me, the buffer I use is the bid/ask spread.
the human psyche is a mother f*****. I know I said I wouldn’t take any more trades today but I felt like I had to take one at the 37 level. then my mind got stuck in sell mode and I took a few bad hits as I started revenging. in hindsight they were plenty of buying opportunities. I eventually broke even as price dropped after the fomc meeting, finishing a bit in the green for the day. theres a huge difference between knowing how to trade and actually trading. I know how to trade, just have to get my head back into that “actually trading” mode since my break.
Short GBP/USD
The pair shows strong selling pressure on the 1 hour chart. On the 5 minute chart it shows low volume on the candles that just re-broke the 50 fib and pivot line, a good sign of weakness.
Thanks for the input EnPoint! Just don’t get what you mean with this, could you explain further please?
Looks like I caught the top. Still in this trade, at about +130 right now. Keeping it for the long haul.
pls what do you mean by STOP SET TO BE?..IS IT BLOCK ENTRY?
BE means Break even. Meaning there’s no more risk to lose money.
thanks danny k
