Please don’t mind my response earlier.
Trust me, I am always open to new methods that works. In as much as I want to use the news as well, I don’t like the news. So why would I find a way to completely ignore the news and know when to stay off the market, and not jump on it.
Hopefully you’d share. Thanks.
Glad to have bumped into you.
steveepperson:
I completely disagree. The chart you present here could be any timeframe, and you would trade it the same, no matter what. It doesn’t matter if it were a daily, 1hr, or 1 minute chart. You would trade it exactly the same.
For example, if you were to enter long right now, your stop would be just below the solid black line. If you were going short, your stop would be just above the highest price reached on the chart. You would simply adjust your position size depending on the timeframe. If this were a daily chart, your SL would be 100’s of pips away. Whereas, if this were a 1minute chart, your SL would be just a few pips away.
It doesn’t matter the timeframe-- the price action tells us the same thing: The chances of the price continuing upward remain highly probable.
I don’t disagree with any of this, it’s all sound advice.
It wouldn’t have mattered what TF this was as it dropped significantly. A great example of good money management. I lived to trade another day.
Congrats on a trade well managed!
That’s a great quote right there.
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