Target reached. Took some profit off and will trail it.
Some times this way, that you post charts so I donāt have to. I closed half of the position. And also going to put my stop higher.
good call pete just closed in 400 pips ā 2 order ā sweet victory
Stop got hit now. Half gave me 20 pips, other half 10.
Profit day again. Volume is amazing.
I sold the pin bar, and it looked perfect, then went straight down.
the trade was on the 5 min chart, the green up, and the red down in the second blue box. I sold after the pinbar after that. These had higher relative volumeā¦ IDK how it went up?
Well, I didnāt see stopping volume. I see some volume, but thatās not enough for me.
Editā¦ There is more volume on bottom than top. So there is more reason to go long.
Hey what broker do you guys use for volume?
I personally would not have taken this trade. On my screen the volume for this candle was lower than all of the last 7 candles.
Though it definitely looks different on your screen, it was the second test of the 50fib, which would have kept me out.
By the way, when you say things like:
āIDK how it went up?ā
āWhy was this a dumb trade?ā
āI thought that would represent no sellersā¦ why does it not?ā
āhow could I have forseen it going up?ā
āwhat was wrong with my logic?ā
It indicates that you donāt understand how the market works. It is not something that can be 100% predicted. Itās just people. There is no perfect logic you could come up with to predict what people will do. You canāt simply follow a set of rules and forsee what trades people will take within the next hour. If you want to win this game, you have to understand that the signs these people (the big players) are giving you, may - or may not - be clues to what they will do next. This is what separates this thread from the rest.
When you make a trade, and it goes against you, you shouldnāt be thinking āI donāt understand! My rules were followed perfectly and my logic said the market would go down. I donāt know how the market went up!ā
You should be thinking, āOk, let me look back at the trade, and the circumstances surrounding the trade, to see how I can avoid these types of trades in the future.ā
Or even, āMy strategy gives me a 60/40 win rate, letās keep it moving.ā
MetaTrader mostly.
yes, but with which broker? I have heard different brokers give slightly different VSAs.
Pete said few pages ago that IFX Trader is okay. And he is using that mostly.
Thatās IBFX. Still have gotrader charts up also. I like to have more than one.
Iām in long hereā¦trading this time of day is not my favorite thing to do lolā¦ but the setup is decent for a scalp.
my internet is down. posting this from my phone. at least i set my stop b4 it went outā¦but where was my tp set lol
EDIT: Internet is back but slowā¦uggh.
You canāt trade and adjust your stops from the phone? You should at least enable tethering for times like this!
I just closed it +10. I hate phones but ya, itās a good backup if I can do that. I just found out what tethering is lolā¦I better get with it.
Short on high volume green candle with long upper wick.
Exit early, switch to long.
Higher volume bounce off 50fib.
I took the short at the 50% retracement this morning for +25 pips in the end. Took a small long at 1.3774 a short while ago but thinking now I might go flat and stay out until after Trichet is done running his mouth in a few hours.
so, When there is stopping volume on a down trend, and the bar has a medium size top wick, and a slightly larger bottom wick and closes upā¦ that would be concidered a successfull stop in volume or no?
(ignore blue bloxes on 1h chart)
Donāt trade usdchf, it correlates with eurusd. Just better off trade uerusd alone