I made my long in eurusd. I used fibs. Usual 50%-61.8 area. My targets were Daily R1 where I closed half, then Weekly Pivot, where I closed 1/4. Still have 1/4 from original position going on.
So other than that 1/4, I’m done also.
Hi Nero,
I’m a newbie, so please could you explain with a chart where & why did you entered long…?
Btw…was a nice trade… 
Thanks!
Yep probably wise to close out most of the trade - once price got up to 1.3666 it’d covered about 75% of it’s daily range from the Tokyo session low of 1.3571. The early morning pullback offered a nice chance to get along for the ride. With the poor German manufacturing data & Chinese rate hike there mightn’t be enough of a push around to force it much higher today but we’ll see I guess.
Oh yes, sorry. >.< Forgot whole chart. 
It went to that fib area there, little wick and increased volume, next candle was up, not so much volume (marked with green square). I went long after that closed. Opened position in that green circle. Very aggressive entry as usual. But it just pays off so often.
Edit: Oh yea and like I said earlier, I took half on that R1, then 1/4 on WP. I think I locked BE when it went to R1. I still have that 1/4 going on.
Edit2: Stop got hit on that last 1/4. 2 % profit was made today. I’m cool with that. Still woulda been good to get bonus from that last 1/4.
Yes, you joined the stop fishing targeting trailing stops above 1.3640 because Euro shorts from Friday’s Hi parked them there.
[QUOTE=NeroKoso;242599]Oh yes, sorry. >.< Forgot whole chart. 
QUOTE]
Thank you for the very quick reply…and happy for your 2% profit!
So, I’ve another question for you and Pete: 
I saw someone in this thread going long/short on long lower/higher wick & very high volume.
In this chart I marked an example (there was also a rejection from 61.8 level…)
Or this kind of entry has to be done only on 1H TF?
What do you think about?
Thanks again guys!!
That would have been great place to go long when you look at it later. But as you can see, very next candle went up. So you would have open trade after that high volume candle close. But that is something what I don’t do (unless I’m bored and I’m playing with mini account). It is way too risky. It can go either way on that point.
I use high volume candles to take my profits out. Like in my last screenie, you can see some volume when price went to R1 and when it went in WP (plus there was wicks). When I see volume at some important points, I take my profits.
So after that volume, you need to see couple candles so you can see better what happens next. In my entry, there was one candle that gave me opportunity to jump in.
NeroKoso, I’m impressed. Were you able to get to this point of understanding mainly from this thread? I’m not asking to pat myself on the back, but to know that it is possible.
1,000 posts!
Hey petefader,
thanks for sharing this ofc. Just a little recap before I jump into this mega-thread.
- This system is an advanced Mad Scalper system, right? Should I start my learning over there?
- You use MT4 just for charts, right?
- Does it have built-in volume indicator? My Oanda Platform doesn’t have any volume indication :-/
- What sessions do you trade? London + New York I guess? About 2 hours a day, I guess?
- Does anybody has an updated meetpips profile? That would be just a cherry on top. Thanks
If you or anybody else could answer these questions I would be very glad. I just need a little info to determine whether or not I should start reading all that stuff
-
Not related. Start here.
-
I think he uses MT4 just for charts, but it shouldn’t matter.
-
Yes it has a built-in volume indicator.
-
He answered this a while back, I think he starts at 3am…don’t remember.
Yes. Everything out from this thread. Everything. I still haven’t even started to read Tom’s book. (OMG I SHOULD, but so busy always. Long book anyway. haha)
I only read this thread 2 times in like 2 months (or even less), but like I said before, I read slowly and watch live charts etc. Never read anything else about volume. (well couple little thingies yes and watched couple vids on YouTube… But MAINLY, everything from here.)
I don’t know, but it just fits. It makes alot sense. I never used indicators in 2 years of my trading, so I think that’s why volume helps me ALOT. I always think why, when something happens. I like to think alot.
You are not asking it, but you totally deserve it. 
6 losses in a row 
Ouch. o0 Bad beat. =/ 6 is quite alot. I hope they wasn’t full losses.
Dodge, you know you were bending/breaking the rules sometimes right? I never take high Volume breakouts, I don’t think any type of VSA entry fits that…and there is reason. Also noticed one of your recent trades, a short, was made due to increased vol at fibb, but the Volume at the start of the up move was much higher. You were trading against the background. Hope that helps.
LOL thanks for the picture, it made me laugh I’ll have to find one of those for Blackjack!
No, they weren’t all-in. Luckily I learned from my 18 streak loss a few months ago :eek:
How many of those were trades against the directional bias out of curiosity? Do you use feeder stakes for counter-trend trades?
I’ll go back and check the PDF, but I think I remember reading something about a high volume candle closing past resistance/support being a strong indication that smart money wants price to continue in that direction. Something about “Gapping Up”, a sudden rise through the top to discourage selling so they can continue the up move with little resistance.
I’ll read through it again.
Some were reversals, some were with the trend, and some were good trades but I got cute with my stops. I’ll post some pics in a bit.
Yea np. That pic makes me laugh everytime I see it.
But yea. It’s so very hard for me to risk even 1 %. Usually I risk like half %. Pete risks 2 %… I just can’t. I’m still too scared. So many times I’ve jumped away from bad trade before it even hit my stop. Usually that happens with small positions. Those are my very aggressive moves. Stop very close and small position. And usually I close it fast when in profit. Unless it looks very good and I take good pips from it. Like I risk 7 pips and get 30. I’d say it’s good ratio. But usually I get much less, but profit is profit.
ok, I hear ya…but I find that breakouts are fake more than they are real. Just look back on the charts how many times price pops a few pips above/below s/r and doesn’t break. I think it’s a losing game personally. Buy low, sell high. During summer time, slow PA…it gets even more risky. This is just MY take, doesn’t mean you can’t make it work though.